Stacking mentality

[Sliopjbsail]

Whether stacking gold, or silver, or both. Do you stack what you can as and when you can afford it? Do you get those precious metals by hook or by crook (credit cards, PayPal credit, selling other stuff to pay for it etc) to secure them safely away or do you have a nice, safe precious metals allowance every month for which you use to invest in the shiny stuff?

[RichmondStacker]

I only started stacking a couple of years ago but stopped for a year to clear all my debts and stopped gambling and cut down on craft beers at home.  I have a minimum target I budget for every year along with cash/ISA/crypto amounts from my salary monthly.  I’m lucky enough to get overtime at work as well as a very nice callout fee if I go in with less than 24hrs notice, that usually goes towards a bonus soverign and a treat for the missus. 

I’m less wasteful with money now but not tight as I allow an amount for treats/trips every month but I see things in terms of silver.  Two pints of beer, that’s an oz of silver. 

[PansPurse]

I think there's actually two quite different questions here:

Stacking approach; I have a monthly budget although I sometimes supplement this by selling other PMs (did a shift over from silver to gold a while back). Generally working on putting some savings to one side while also paying off debts (yes I know this isn't the optimal solution, but it makes me happier), but PMs is only a modest part of that for me.

Stacking mentality/reasoning; for me it's mostly about savings discipline. Funds in the form of PMs is slightly harder to access so I'm unlikely to unless it's something important. Also because it's only a sort of emergency fund I don't see it getting much bigger than it is currently (enough to cover an unexpected bill or two but not life-savings territory) additional funds are likely to serve me better in stocks and shares. I suspect the approach of accruing large quantities of physical PMs at the expense of otehr forms of investments/savings is akin to stockpiling food and medicine.

[Roy]

8 minutes ago, PansPurse said:

I suspect the approach of accruing large quantities of physical PMs at the expense of other forms of investments/savings is akin to stockpiling food and medicine.

Good analogy, yet the opposite is true.

Sovereigns get better with age 😊

Your stacking mentality sounds excellent to me.

[Roy]

1 hour ago, RichmondStacker said:

Two pints of beer, that’s an oz of silver. 

Jeez! Has it got that bad?

I pay less than a dollar a pint 🍻

[Sliopjbsail]

52 minutes ago, Roy said:

Jeez! Has it got that bad?

I pay less than a dollar a pint 🍻

That’s what I was thinking?! That’s some damn good ale you would hope 😆

[PansPurse]

1 hour ago, Roy said:

Jeez! Has it got that bad?

I pay less than a dollar a pint 🍻

This is why homebrewing has suh an appeal. In the South-East you'll be lucky to get two pints for an ounce worth (depending on if you're talking spot or if we're talking actual in-hand price for silver)

[TonyS]

I paid 2/1d (two shillings and a penny) for my first pint. In my local I’d now (with inflation and increased taxes) get 2½ pints for an ounce of silver.

If I tried to pay in silver the landlord would probably tell me to stop being daft, go home and sober up.

[Sliopjbsail]

3 hours ago, PansPurse said:

This is why homebrewing has suh an appeal. In the South-East you'll be lucky to get two pints for an ounce worth (depending on if you're talking spot or if we're talking actual in-hand price for silver)

Do you home brew? I tried a kit once but it turned out really flat

[999magnum]

I wish I could distill my own bourbon.

[vand]

Good finance starts with budgeting. Your stacking budget should be manageable and clearly defined - in that respect it is no different from anything else you buy. Steady disciplined accumulation wins the day. 

[AppleZippoandMetronome]

For me my PM budget is made up of what I have left over. I have the things I put money towards every month - usual bills, savings, etc and what is left goes mostly to silver. As I've gotten older I am spending less and less on nights out and general socialising. I seem to have gone from spending spare cash on boozy nights out with mates to spending it on shiny stuff. It is a better use for the money though I have 0 regrets on the boozy nights out - life is short and its important to have fun.

I wouldn't go in to debt to buy either silver or gold unless its a case of making use of some credit card perks but paying off the balance before interest is added.

[Timmo365]

Exactly the same as ApplezippoandMetronome.  Although I was always pretty good at saving and budgeting my excess cash would go on nights down the pub, going to football, cinema and meals out. Now I have a toddler and a tough job, so the above are very rare these days. I enjoy stacking, so this gives me a quick fix plus I like the fact that it's a store of wealth that will either be given to my child eventually who would have paid zero towards it or if things go a bit tits up it can help supplement my later years in life. Definitely worse hobbies in life. 

[RacerCool]

I'm not too different from many others here. After the bills are paid, I'll save some and then buy some PMs. That seems to be the most sensible way for the everyday working man to go about it. 

[Frost]

Every month I try to buy at least 20 oz of silver (often it becomes 40-50 or even more). Generally I stick to the rule when spot price is low I buy and when it's high I sell generics. My minimum order is $100 as I don't want to pay shipping, hopefully most US dealers offer that possibility.

I'm lucky that my wife supports me in stacking and presents me silver for holidays. Do your spouses share your hobby?