Will your nerves hold ?

[HighlandTiger]

Hypothetical question, but one that may become reality. Ignoring of course all the SHTFers who said PM's were going to the moon in 2015   (doh!)

 

If PM's continue to fall to say half the current levels, and rest at low prices for say a few decades, as they have in the past. (in fact Pm's adjusted for inflation, have trundled along, a bit up, a bit down, throughout history, APART from the last 10 years or so.), how many of you will continue to buy all the way down, and hold your nerve sitting on a pile of yellow and white metal you've lost huge money on, in the hope that one day in the dim and distance future the prices will rise again. 

 

If you have to wait 20 years to make a small profit, how will your mindset regarding PM's be then?

[Danny-boy]

Personally, I'll keep buying and reduce my £/oz as best I can.

Although I am stacking to form part of my retirement fund, I do actually enjoy stacking as a hobby / pastime and I find it a very effective way of saving money that would otherwise "disappear".

I won't retire for another 30 years approximately - I'm acutely aware that (and quite prepared for) silver and gold may be worthless then, or it may be worth a huge amount. Obviously I'd rather the latter, but who knows.

My actual pension that I save pretty hard for, may also be worthless but at least I'm doing more than a lot of people to try and enjoy my retirement with ample funds, and be able to treat / help my children.

I pay a lot for my car, which I really enjoy - but I'm fully aware it's losing huge sums every month and will be worth a quarter what I paid for it when I come to get rid of it. But it's something I enjoy, so am prepared to "spend" that money. I enjoy stacking too, so see it in a similar way - I just at least have the chance of a return on investment, unlike the car.

[DRooster]

 

If you have to wait 20 years to make a small profit, how will your mindset regarding PM's be then?

Well, that's kinda my whole plan   

[mrwebb697]

Not really an issue for me,just stacking to leave the kids a bit when i'm gone so will

keep buying

[Kman]

If you have to wait 20 years to make a small profit, how will your mindset regarding PM's be then?

 

For me it's not really about making a profit as much as being another store of wealth

 

That being said, I would of course like to make a profit evenutally and my buying habits are geared towards that the best way I think currently possible. 

[HighlandTiger]

@Kman For Pm's to be a store of wealth there has to be a rise in price in order to match inflation.

[Kman]

@Kman For Pm's to be a store of wealth there has to be a rise in price in order to match inflation.

 

I'm more thinking about should there be a problem with the banks, it's nice to know I have some other liquid wealth to call upon 

 

Also I don't just buy precious metals for their spot price, I'm trying to get historic numismatic gold that will hopefully have a rise in collectible value in the future, so perhaps even if the spot price doesn't keep up the collectible value will. 

[Scuzzle]

I firmly believe you still can't go wrong as long as you are prepared to wait, silver always was a 10 year hold investment even in economic times far less volatile than nowadays.  More of us don't fall for the manipulation tricks played by the big boys designed to frighten us into selling up like we used to and now we have learned to buy more rather than sell up for when the manipulation is turned to forcing prices in the other direction.

[Hookythestacker]

Already reconciled to the fact I will likely peg it before it's worth cashing any silver in, doesn't bother me one bit, maybe ease off buying a little on the highs. Lets face it though, if you are into PMs, proofs

or bullion, not a lot is going to put you off. I'd tuck my silver in every night if it was easily accesible 

[silversword]

Not bothered by present price falls. I'd always intended to hold some gold/silver as an alternative to keeping savings in the bank or other financial institutions, and always as a long-term thing. Some of the coins are just so nice that I'll keep them for aesthetics anyway, but the pure bullion stuff is just put by for a rainy day. Obviously I'd sell some if the price soars upward, but until that time, I just acquire a bit here and there with disposable cash, and the cheaper the better. 

[jc1989]

I am 31 and am in for the long hall. The plan being to accumulate an absolute shitload of PM's over my working life and use them to tick along with in my retirement. I am not putting all my eggs into one basket so will hopefully have other income streams.

Any PM's that don't get used in my retirement go to my kids/grandkids

If they are worth very little I will not sell and let me kids sell them in the future.

[KDave]

Like JC I am looking extreme long term, around 40 years before I sell any of my gold unless I fall on hard times or the value of it goes crazy again.

 

PM's are my means of saving some purchasing power (historically gold has never be worth zero unlike currency), protecting it from a failure in the fiat system (whatever form that may be - credit crisis, hyperinflation, government revaluation ect) and a way of removing all third party risk from my a part of my retirement plan (physical only). My fiat pension will be worth far more than the gold I am stacking in the current pension set up and gold will just supplement it best case scenario. Come a worst case scenario gold will probably be worth far more than it is today and will hopefully compensate for the loss of the fiat pension (which lets face it - is basically free money the way it works today).

 

I actually don't trust pension schemes because they are suspiciously generous - if I could today generate the returns expected on paper I would be very wealthy by the time I retire. There is *usually* no such thing as a free lunch and so I am fairly confident that not all of the money promised will be there when I come to retire. However the current system could very well trundle on for another 60 years which means not taking advantage of a pension and the free money that comes with it is too large a risk for me to take.

 

As PM's are mostly my way of hedging bets, I will never sell all of them and will certainly not be selling at a loss to chase opportunities else where. 

[SilveriteFX]

@Kman For Pm's to be a store of wealth there has to be a rise in price in order to match inflation.

 

@HighlandTiger - Would you rather be holding paper money and paper assets during a full economic collapse and currency re-set ?

 

- Get ready for some cheap gold! - https://thesilverforum.com/topic/3674-get-ready-for-some-cheap-gold/?p=56266

[Stu]

To be honest I was more nervous when gold was tracking up at the start of the year and pushing £870 as I have not amassed the quantity I want for my core stack. It can fall all it likes in the meantime, much cheapness please.

Here is another article for the bears, bring it on

http://www.mining.com/deutsche-gold-price-has-another-30-to-fall-and-soon/

[HighlandTiger]

@HighlandTiger - Would you rather be holding paper money and paper assets during a full economic collapse and currency re-set ?

 

- Get ready for some cheap gold! - https://thesilverforum.com/topic/3674-get-ready-for-some-cheap-gold/?p=56266

 

Perleeeeeese. I'm sorry but I'm not one of those people who think the worlds economies are about to collapse either tomorrow or anytime in the next 100 years. In spite of all the doom and gloom coming from armchair "financial experts", the world ticks along nicely every day. Some years we'll have recessions, some years we'll have boom times. But again the world will continue and banks will, as they have done since the time of the Medici's in the 14th century, continue to prop up the ruling establishment of the day.

 

If you are banking (excuse then pun), on the world returning back to the gold standard, then I hope you have access to a time machine. Because it will be the only way you will ever see the gold standard in action. 

 

[HawkHybrid]

Perleeeeeese. I'm sorry but I'm not one of those people who think the worlds economies are about to collapse either tomorrow or anytime in the next 100 years. In spite of all the doom and gloom coming from armchair "financial experts", the world ticks along nicely every day. Some years we'll have recessions, some years we'll have boom times. But again the world will continue and banks will, as they have done since the time of the Medici's in the 14th century, continue to prop up the ruling establishment of the day.

 

If you are banking (excuse then pun), on the world returning back to the gold standard, then I hope you have access to a time machine. Because it will be the only way you will ever see the gold standard in action. 

 

 

unofficially we still have the gold standard. otherwise the us

wouldn't need to hold 8k tons of gold and china won't need

to declare 1k6 tons of gold to help encourage faith in the

yuan for trade. at a low price or high, gold is accepted trade

payment worldwide.

 

let's hope we don't get an economic collapse, but hold some

gold because we just don't know what tomorrow will bring.

 

HH

[Keithoil]

I am retired now by the virtue of the fact as a contract Systems Engineer in the Oil & Gas sector the collapse of the oil price means I am the first to go. Don't get me wrong I new this I just cold have done with another year.

 

So now I am, living the life of Riley!!!

 

We have four properties three rented (my sons are buying two of them interest free) out plus I have just turned 55 and get my company pension.

 

"My stacks of gold and silver nah" I never want to sell them, just like them too much. 

 

When I get to 66 thats when I get my state pension, (for the younger guys and gals you may well be into your seventies before you can get any state pension), then my outlook gets even better with a boost to my income from the state.

 

Just bought some more gold and a bit of silver yesterday.

 

2327 oz silver, over a kg of gold

 

Time will Tell!!!

[HighlandTiger]

Nice to hear you are still around @Keithoil, and that life is not to shabby at the moment.

[simon13]

With my interest rates so low and other financial instruments carrying increased risk, Everyone should hold some hard assets without counter party risk.

For me its Gold, Silver, Property and Whisky. I'm currently selling the house to pay for a new business venture, without debt or external investment. If I can me in within budget i'll be putting whats left into Gold and Silver... hopefully the price will keep dropping until then.

I wont be homeless, i'm almost finished doing up a room in my hotel that cant be used as a hotel room because of fire regs.

[Hookythestacker]

 

"My stacks of gold and silver nah" I never want to sell them, just like them too much. 

 

 

2327 oz silver, over a kg of gold

 

 

That's pretty much along my lines of thinking, there are much easier and more effective ways to invest than putting cash into PMs. Trying not to wax lyrical here and sound 

like a you know what, but if you aren't passionate about the stuff I wouldn't even bother buying it.

 Being a little nosy here Keith, is that 2327oz physical silver for delivery? If so what have you found the most cost effective way to have an amount like that delivered. Please feel free to tell me to mind my own business 

 Edit. I was thinking fully insured delivery.

[Keithoil]

That's pretty much along my lines of thinking, there are much easier and more effective ways to invest than putting cash into PMs. Trying not to wax lyrical here and sound 

like a you know what, but if you aren't passionate about the stuff I wouldn't even bother buying it.

 Being a little nosy here Keith, is that 2327oz physical silver for delivery? If so what have you found the most cost effective way to have an amount like that delivered. Please feel free to tell me to mind my own business 

 Edit. I was thinking fully insured delivery.

Hi HTS

 

No that is all physical silver in secure storage not too far from the house.

 

I dread to think how much that would cost to get delivered, it would be more for the six big blokes to look after it in transit

 

Keith

[Kman]

Hi HTS

 

No that is all physical silver in secure storage not too far from the house.

 

I dread to think how much that would cost to get delivered, it would be more for the six big blokes to look after it in transit

 

Keith

 

I've been wondering where you were Keith, not seen you in tiiime. 

[Keithoil]

Just adjusting to not working anymore, and we lost one house and had to find another quickly which we just completed in May.

 

I have been here just not saying much.

[Cointreau]

Good to hear from you Keithoil. Have you retired now or just taking a rest?

I got 22 oz of gold now.

[DRooster]

Is this turning into an "I got so many ounces" thread?

(Does such a thread not exist in the forum, it would be cool...)

I have three ounces ... of silver ... and 100g of 50% old coins. Do I get a wooden spoon?