MikeInTexas

On September 1, 2019 at 06:43, MikeInTexas said:

There are a few of us here who have been "stacking" over a long period of time. Some of my stuff, I bought in the 1980's and 1990's when silver was $6.00 to $9.00 per ounce. And even these past few years, with the ups and downs, I paid as high as $22.00 per ounce including premiums. A Dollar Cost Averaging strategy. I have sold very little, and today, the stack gets bigger. I am not stacking silver as an investment. I am stacking to preserve my wealth, against a changing economy. Look into what the price of gold and silver have done in Argentina, as their currency has crumbled because of bad inflation. Look at Venezuela, their currency is garbage. Their Government hates the idea that the citizens are using American dollars in what the govt says is 'black market' trading, but all it really is, is people trying to buy food and necessities. There are even a few old silver coins being used. And we have all seen these past few months.. silver at $14.50, and YES...I did buy at that level.. and even this past Friday, I bought 2019 American Silver Eagles 1oz at $21.50 each. I bought nearly all the 2019's the dealer had in stock, as he was waiting on big boxes to arrive for his customers. When the spot BID/ASK prices in New York City, London, Hong Kong and Australia get above $25.00 United States Dollars (USD) per ounce, I will just set aside some mad cash, should the spot prices drop suddenly. Which is like going shopping, and everything is ON SALE! If the metals do sky rocket, don't panic, wait and see, because you had already been stacking, which is more than the rest of Americans are doing. Some people buy brand new cars and trucks, waisting their capital, and others are stacking gold and silver, preserving their buying power. Something I keep in my mind is, if I had bought a 10 oz bar of silver at say $9.00 per ounce with a premium of $1.50 per ounce over the spot price, and silver later moves to say $18.50 per ounce, and I sell that 10 oz bar for $185.00... now what do I do? Put the cash in a bank, where it does not do anything? Look at history, back in 1979, inflation was at near 18%, home loans were at 12% to 16%, and silver and gold went way up! It was because the dollar was losing its buying power. SmoggyPluto, you are off to a good start! Keep stack'in!

Have been putting small sums of savings aside for times like this, depending on what happens tomorrow with Spot Silver, hopefully will end up having done a comfortable purchase of ASE's (American Silver Eagles). Also within my budget, is enough to walk out with .925 Sterling for projects, and other .999 for my own silver pours in bars and rounds. So that everyone here understands, the measures I take to preserve my capital are not for wanting the U.S. Dollar or U.K. Pound to be devalued for my benefit, it is history that warns us to pay attention, to take measures to preserve what little capital any of us have to our name. Keep stacking everyone! Cheers from MikeInTexas!

9 hours ago, vand said:

Ouchie.

Correction continues.

I fear this is heading back down another dollar or 2.

Agree. Was kinda expecting this to happen, but did not think drop would happen this soon. 

On September 27, 2019 at 12:04, pneustack said:

it's an interesting dynamic...  on the one hand i want price to go up.  on the other hand i want it to go down so I can stack more/cheaper.  😎

Ultimately though my strategy is largely driven by GSR, which currently >80 is well within my comfort zone.  at 16.35 or below however, i'm more or less agnostic to the ratio.

 

BTW, I think I saw you were in the Houston area in another post.  hopefully you averted the brunt of Tropical Storm Imelda last week.

From Tropical storm Imelda, I recorded over 11 inches of rain. Eleven years ago, I had 45+ inches of rain from Hurricane Harvey. I am on high ground here. Got to keep my stack dry!

On September 26, 2019 at 07:21, pneustack said:

looks like another leg down possible today.  DEC futures at 17.85 currently.

Yep, this morning also. As long as spot is below $20.00, I continue to buy and stack. Been sitting or cash for opportunity like this. As I type this, spot is at $17.32 USD.

17 minutes ago, verorl said:

It's at $19.20 now!!! I have a cart full at APMEX, waiting on some money that should drop into my account later today to pay for it... I'm having second thoughts, but then I have bought silver at over $20 spot in the past.

Yikes.

Yep! I am on Kitco website, monitoring the spot silver market. And yes, I have bought AG at over $22.00 USD, and will continue to do so until it gets near $25.00 USD per ounce. We've all watched the ups and downs, and right now, I feel Silver is still cheap at current price. Greetings to everyone on The Silver Forum from my location near Houston, Texas!

Exactly. I will continue to buy, but as we get closer to $22.00 USD per troy ounce, I will be taking a very close look, see what happens over a few days or weeks. At $25.00, I will likely be stacking cash, see if a dip takes place, then try to buy into weakness.

On August 29, 2019 at 14:23, SmoggyPluto said:

As a newb in the stacking world I am deeply conflicted with the price fluctuations. On one hand I am excited to see spot prices rise so I can make a profit. On the other hand I just started stacking and want to buy so much more. I understand many stackers have purchased at a much higher spot and premium. $20 including premiums was my target cut off so I can use those funds for other investments. The conflict is real! 

There are a few of us here who have been "stacking" over a long period of time. Some of my stuff, I bought in the 1980's and 1990's when silver was $6.00 to $9.00 per ounce. And even these past few years, with the ups and downs, I paid as high as $22.00 per ounce including premiums. A Dollar Cost Averaging strategy. I have sold very little, and today, the stack gets bigger. I am not stacking silver as an investment. I am stacking to preserve my wealth, against a changing economy. Look into what the price of gold and silver have done in Argentina, as their currency has crumbled because of bad inflation. Look at Venezuela, their currency is garbage. Their Government hates the idea that the citizens are using American dollars in what the govt says is 'black market' trading, but all it really is, is people trying to buy food and necessities. There are even a few old silver coins being used. And we have all seen these past few months.. silver at $14.50, and YES...I did buy at that level.. and even this past Friday, I bought 2019 American Silver Eagles 1oz at $21.50 each. I bought nearly all the 2019's the dealer had in stock, as he was waiting on big boxes to arrive for his customers. When the spot BID/ASK prices in New York City, London, Hong Kong and Australia get above $25.00 United States Dollars (USD) per ounce, I will just set aside some mad cash, should the spot prices drop suddenly. Which is like going shopping, and everything is ON SALE! If the metals do sky rocket, don't panic, wait and see, because you had already been stacking, which is more than the rest of Americans are doing. Some people buy brand new cars and trucks, waisting their capital, and others are stacking gold and silver, preserving their buying power. Something I keep in my mind is, if I had bought a 10 oz bar of silver at say $9.00 per ounce with a premium of $1.50 per ounce over the spot price, and silver later moves to say $18.50 per ounce, and I sell that 10 oz bar for $185.00... now what do I do? Put the cash in a bank, where it does not do anything? Look at history, back in 1979, inflation was at near 18%, home loans were at 12% to 16%, and silver and gold went way up! It was because the dollar was losing its buying power. SmoggyPluto, you are off to a good start! Keep stack'in!

Anyone else besides me taking time to observe silver and gold trading today? The news services here in America are showing gold trading at $1.510 USD per troy ounce. The price of silver really got my attention.