Mark10110

Also great move to make,

Create a spreadsheet of dates you purchased, what you got, how much and use the formula cells so you can always see your average cost over time,

I created a cell where I put in the current price and it tells me my total potential profit loss.

On 15/07/2022 at 16:18, BobP said:

A brief update, having trawled through countless posts recently, finally ordered some gold britannias and a couple of sovereigns. The price included delivery, and I'll be waiting for the postman again when they have been shipped.

Managed to "lose" 120 euros in less than 36 hours as the price has tumbled. 

I'm in it for the long term, so in the scheme of things, not really an issue, but do wish I had been patient for a day or two

Something you need to learn in the metals space (or crypto space), You are not down till you sell.

For Example, I paid in the ranges of £18 per oz of silver around 2016/2017, I was "down" for about 2 years, then I was up for around 7 months in 2020/2021, I haven't sold so in reality I haven't made a profit or a loss.

It can be a learning curve to not see it as a profit/loss and more of a future profit/loss.

It's not healthy to be market watching too much, Sure watch some youtube vids every so often for entertainment but also keep in mind the biggest "Experts" out there don't know what's going to happen, Off the top of my head I remember Jim Rickards saying in December 2021 " we have reached peak inflation". He was wrong...... so so very wrong. No one can tell you the future, if they claim they know... they are lying. 

(Jim Rickards is the biggest gold/silver bug I know of, and known as top of the field, check his books out)

Peter Schiff is a good listen, however I dislike his anti-bitcoin stance

On 31/08/2019 at 13:02, Mark10110 said:

I have been having thoughts that I have struggled with on my next purchase which should be next week, At what price should I stop buying gold/silver? I am not asking you guys to tell me when I should stop but I am curious if you guys have a limit? 

For example my limit I am wiling to keep buying silver is at the £20 mark and with the dreaded B word making silver cost north of £20 with tax I have put the brakes on that

As for Gold... I  don't know. The charts show gold at an all time high and I am having inner battles on if it is viable to buy now.

Some of you guys must be having the same inner conflict?

In hindsight I think I played this perfectly.

I halted buying silver at 450oz as it hit £20 per oz (including tax) and tapered buying gold around £1300 funneling my funds towards acquiring my goal of owning a full bitcoin before the next bull run.

My plans for the next 2 years is to start selling some of my Crypto holdings and start buying gold and silver with a % of the profits. Silver I will buy on these forums more than likely and gold from a trusted dealer.

I did want to get into gold mining stocks but it seems extremely complicated and a headache and I prefer to "set it and forget it" 

12 minutes ago, PJRay said:

Ouite a few things but I'm not prepared today to be drawn into an argument about the socio economic musings of a professional right wing agitant.

He didn't say anything about macro economics that wasn't common knowledge and dressed it up with his own I'm alright Jack ideology.

Doling out 'hard truths' from his tax haven into a spittle flecked camera for his fans. It seems toxic and I won't be touching Peter Schiff with a ten foot barge pole.

He isn't to your taste, I get that. He does talk about the fact that he does not pay tax where he is and also goes into great detail on what the trade offs are, no representation and not being eligible to vote. He also talked about not taking the bail out money currently being offered of upto 100k per employee for a maximum of 500 employees and explains how it is being exploited by everyone else in detail even explaining the fine print. 

I don't think he is right wing, he literally called Trump a liar and accused him of backtracking  about his claims about unemployment rates and  inflation... (macro economics) but you didnt get that far.

Everyone can't be liked by everyone.

I respect your opinion

4 minutes ago, TheApe said:

Wow, dude, you need a drink.

So as i stated,

I am pretty sure he did talk about macro economics for a good 40 minutes? 

unemployment rates, Interest rates, Growth rates?

1 minute ago, TheApe said:

I agree, not much of a conversation. 🤣.

But I was asking what PJRAY didnt like about what he said not how he said it. 

Anyone who knows anything about Peter Schiff knows he is the biggest Gold "pumper" in existence. He bashes bitcoin constantly in favour of gold. I mean ... he has his business link behind him the whole time.... where he sells gold. I think people want to see gold and listen to how it was money for over 5000 years for the 100th time but in a different way.

56 minutes ago, TheApe said:

Interesting, I thought most of what he said made sense.

What in particular did you take such offense to?

some people just want to be in an echo chamber or hear what they themselves believe.

Peter Schiff is used to talking for 5 minutes in a soundbite for a news interview where he has 2-4 others also trying to talk over him so its kind of how he is now. I had to take 2 10 minute pauses to get a drink and let my ears remember what silence is like but overall it was a fantasic podcast which I learned a lot about how loans and finance works.

As for people expecting 3 hours of him showing gold coins and gushing over them I am afraid you will not find much of that there, searching youtube unboxings and such may be better for them.

Peter Schiff is the loudest voice in Gold and this whole podcast was a build up to why you need gold.

Peter Schiff brand new interview on Joe Rogan podcast,

Interesting for anyone even looking at gold.

can you use the card to buy gold from say Atkinsons? For example I buy 1oz of gold for £1220, in 8 months it grows to £1300, can i use the glint card to buy from a dealer or is it an ATM only card? not saying i would as they are going kaput but could you?

Just now, Coolsmp said:

So you're not looking to retire early? Ive got 30 years before i receive my state pension but i wont be letting the government dictate my retirement age i'll decide that for myself.

I don't know about others but the sole reason I get gold and silver is because I want retirement money that the government don't know I have. My father got made redundant at work for "business reasons" but we knew it was because he had Chrones disease and it was taking a turn for the worse, when he was laid off he went to get benefits and was told "yea, not until you spend all that money you earned and saved up" which was disgusting when you have a guy who worked 30 years paying taxes. I decided thatif I lose my job or something alike I don't want them saying "tough luck, spend your savings now"

Just now, Derv said:

That's him. Gary McKinnon ?

Strange how it all ended. The USA are like a dog with a bone , they usually never give up.

He must've had an ace card somewhere. He seemed like he was on some kind of spectrum , but very intelligent, I think, nonetheless

he had Asperger, I have a mild version of it. I think everyone is on the spectrum in some way.

He most likely got a job working in government.  

Just now, Derv said:

Can anyone remember that crazy hacker 10 years ago or so who claimed he hacked cia,fbi, nasa? and supposedly seen 'evidence ' of off world bases? It was a YouTube video. USA tried to extradite him but he got totally let off for whatever reasons !

I know it's a bit tinfoil hat material. But it was a genuine case ! 

Yea, Gary.

Was supposed to be extradited but all the media stopped talking about him.  

Just now, Derv said:

I agree I can't see it happening in my lifetime.

Though if/when we colonize the moon , mars ect that may reduce overall  costs of mining once bases are set up. 

the minute they start putting people on space bodys to live is when I stop buying gold and start buying stocks in space tech

Just now, ChrisF said:

If we struggle with demand and or "run low" on gold and the above is the only option the cost of recovering gold would be tremendous.  Gold prices would go balistic.  

I doubt it will be viable in my lifetime, I found this on google,

"SpaceX Falcon 9 rocket can put 10,450 kg (23,050 lb) in low Earth orbit for $54 million"

To mine asteroids or other entity's would take multiple trips to set up. 

Just now, Coolsmp said:

Ive recently stopped buying silver and moved to gold with an aim of 5oz per year. 

Same apart from the weight,

I only managed to get around 310oz of silver and now I move into gold. I will just buy either 2-3 sovs per month or if I have had a good month at work I will just get a 1oz brit.

@Coolsmp if you have a youtube where you show your progress or unboxings let me know. 

Just now, KDave said:

Gold has dam near gone straight up since May without a visible correction, it is extremely overbought.

Given that 2011 was blow off top of the last bull, tell me does this look healthy?;

thats what has me concerned. 

Just now, firestacker said:

If central banks stopped exponentially printing I might consider easing back on gold but that's never going to happen.

Right now I mainly look at it from an allocation percentage. Only 1% of my net worth is in gold right now (more in the likes of silver and bitcoin) but I'm trying to increase this over time because when you look at the general market most people are 100% in index funds and thats it. The fact that many won't even consider a 1% allocation shows us how far we've got to go.

I got lucky with bitcoin and got in at the bottom in January, but being into crypto has made me more alert about buying at highs

I have been having thoughts that I have struggled with on my next purchase which should be next week, At what price should I stop buying gold/silver? I am not asking you guys to tell me when I should stop but I am curious if you guys have a limit? 

For example my limit I am wiling to keep buying silver is at the £20 mark and with the dreaded B word making silver cost north of £20 with tax I have put the brakes on that

As for Gold... I  don't know. The charts show gold at an all time high and I am having inner battles on if it is viable to buy now.

Some of you guys must be having the same inner conflict?