does it get any easier

[bones]

afternoon all , ok im three weeks into this lark having never thought about it before . ive allways prayed to the great god cash , not that i have much of that 

 

i bought 12 , 10z coins from bbp , not the cheepest method 

i bought 12 , 10z coins from stg  . alot better way of doing it . 

 

i was going to add ten more 1oz coins to my order but bought 2 sovs from hgm instead

 

it took me two days to push the button on the silver . and three days to buy the sovs  . 

 

does the fear of swapping your hard earned for shiny bits of metal ever get easier 

 

im guessing the more you buy and stack the more chance of making a quid on top would ease the burden , but it scares me to death

 

is this normal 

 

do you still get butterflies when you buy

[HighlandTiger]

afternoon all , ok im three weeks into this lark having never thought about it before . ive allways prayed to the great god cash , not that i have much of that 

 

i bought 12 , 10z coins from bbp , not the cheepest method 

i bought 12 , 10z coins from stg  . alot better way of doing it . 

 

i was going to add ten more 1oz coins to my order but bought 2 sovs from hgm instead

 

it took me two days to push the button on the silver . and three days to buy the sovs  . 

 

does the fear of swapping your hard earned for shiny bits of metal ever get easier 

 

im guessing the more you buy and stack the more chance of making a quid on top would ease the burden , but it scares me to death

 

is this normal 

 

do you still get butterflies when you buy

 

Don't worry it actually gets easier.  What really happens though is that it gets harder to buy every day stuff, because in the back of your head you are thinking, "Do I really need these new pair of trainers, I can get 3 or 4 ounces of silver if I make do with my old pair for a while longer"...........................and "Nah I won't have that Chinese tonight, I'll find something to eat in the cupboard, I'll put by the money I've saved towards a gold sovereign or two"

[mr-dead]

ive gone the other way, I have to stop myself spending too much on pm's.

 

The more you read about the debts every country has without a chance of paying it back it all has to come tumbling down sooner or later.

 

e.g. In the U.S the tax payer has now been place on the hook for another 303 or 500 trillion $ worth of derivatives depending on how you calculate the figure

[Paul]

I have no problem whatsoever converting fiat cash into PMs.  I know something has to give in this game of financial musical chairs

 

If you are in for the short term or to make a quick buck or flipping stuff quick at a profit I can understand worrying about price fluctuation 

 

As i dont plan to exit my position, for around 30 years or if there is a significant upside during this time.

 

Why worry about this short term market noise.

[mr-dead]

We are just going through a nice buying opportunity for pm's which im trying to make the most of

[Stretch]

Similar to posts above I have no problem converting cash to what I view as real money, gold and silver.

[Ares]

I don't fear it, but it's very much a case of spending *extra* cash on PMs, money which is probably end up spending on other crap if I didn't.

[BaldyBob]

Don't worry Bones.

Every purchase is a serious decision and requires some thought. It is when you buy without thinking that you need to worry.

[motorbikez]

I'm with Mr dead I have to try and stop myself buying Pm's not very successfully up to press.

[Kman]

If I didn't have much cash, there's no way I would be putting any of it into precious metals. 

 

There are other investments out there that would give you much better returns, just depends on sometimes being lucky enough to stumble across them + having the desire to learn. 

[Pete]

Having just watched the 5% fall in the stock markets this week, PMs seem a good buy right now for wealth preservation but I for one also have the experience of paying over £30 per ounce for silver - ouch !

[Lea79]

I only put small amounts of money every mth into Pm's that I can forget about for 20-30 yrs. I'd b a bit nervous making any larger purchases.

[a_a]

Similar to posts above I have no problem converting cash to what I view as real money, gold and silver.

 

Came across this gem of a comment on ZH yesterday:

 

'I'm dumping cash like it's going out of fashion.. oh wait, it is'

[Fluttershy]

I only keep in cash what I can afford to lose.

and when I`m saving for a large purchase of PM, I get really nervous when I get to about 1K+, and want to get rid of it as soon as I can into something safe.

It`s plenty easy enough to turn it back into the paper rubish if you need to (esp Gold), so there`s no real reason for me to take unecessary risk by keeping it as paper, and even worse keeping that paper in a Bank!

[Cointreau]

Worried about buying pm's? Rookie mistake.

[bones]

Worried about buying pm's? Rookie mistake.

rookies right mate 

 

i wont pretend to know anything about the economy because i dont . i spent my working life at the bottom of the ladder holding it up for every one else

 

is the state of the world really that bad money wise

 

i generally keep some in the bank for materials and some in my sock draw for emergencies   so certainly not a big saver by any means . im guessing the sock draw is no longer a safe bet

[SilvergunSuperman]

I generally don't part with money lightly, not because I'm tight, I'm just not a particularly significant contributor to consumerism. I buy clothes occasionally so I don't die from exposure or get arrested for indecent exposure, but generally I don't buy things that I don't need. So my first metals purchase a couple of months back was a big decision for me and one I spent a long time pondering.

 

I decided at first just to buy 1oz of gold, then maybe a small gold coin each month or equivalent value in silver. However things quickly went pear shaped, I ended up buying several coins and bars instead of an oz, and after receiving these items I was so hypnotised by the shiny shiny that I immediately spent more than the same again on another shipment. I have resisted any more purchases for a few weeks but my finger hovers over the trigger most days if i'm honest.

 

The global financial house of cards will come down dramatically at some point, whether it's a few months away or 10 years, but I personally believe there is likely to be a crash next year or the year after. Central banks are printing money like there's no tomorrow just to make sure there is a tomorrow, and that can only go on so long. 

[HelpingHands]

I buy clothes occasionally so I don't die from exposure or get arrested for indecent exposure, but generally I don't buy things that I don't need.

I had to go and buy some cheap shoes this morning when I couldn't find my others. ''I must've left them in a hotel the night before.''

I found the old ones in a bag later on. I couldn't decide whether to be thankful that I had found them or upset I've spent cash on new ones. I edged towards thankful. A pair for wears and a pair for spares.

[Paul]

Shoes dont go out of date HH

If your over 18 your feet shouldn't grow much more either

Once the pair your found get a hole or loose tread

 

You have a FREE pair of shoes now and you will have cash available for PM dabbles/investments

[HighlandTiger]

I had to go and buy some cheap shoes this morning when I couldn't find my others. ''I must've left them in a hotel the night before.''

I found the old ones in a bag later on. I couldn't decide whether to be thankful that I had found them or upset I've spent cash on new ones. I edged towards thankful. A pair for wears and a pair for spares.

 

Have you still got the reciept....?    Take them back, get a refund, buy some silver,  Come on, you know you want to...

[HawkHybrid]

I see it as cash is for circulating money and pm's are for

saving money.

 

HH

[Kman]

I see it as cash is for circulating money and pm's are for

saving money.

 

HH

 

What about money for investments 

[lightjaw]

I am a bit concerned about your concerns!

If you can't afford to lose 90% of the value of an investment then maybe you shouldnt invest in it. The only time I would be worried personally is if I had over extended myself with my purchases. I hope that that is now what you have done and you can afford to lose as much as it would be nice to win.

I ask myself " if I lost all this could I still pay everything and not be in a mess financially? " if the answer is yes, invest away, if not, put it somewhere safer .

[bones]

im a bit concerned by your concerns about my concerns  

 

as my posts may sugest education isnt a strong point for me . i spent my life pushing shovels and spanners not a pen , untill two busted discs and damaged nerves put an end to that

 

i rent a house so no home to leave the kids , i have no real debt to speak of but no real savings ether . for a couple of years ive been thinking what i would have to leave the kids when i shuffle of this mortal coil . the answer is absolutely nothing , no pension ether  

 

i got into pms a couple of weeks ago by accident . after alot of reading i figured that pms will allways have some value . if you buy and it goes up you win , if it goes down you loose but it will be worth something

 

the internet dosent  help much . for all the sites as there are saying by gold and silver paper money will be dead in a week . there are as many sites saying dont buy gold or silver , paper money will be king for the next thousand years

 

im not quite on poverty street just yet , so a bit of pm buying will continue . and its getting easier to pull the triger as the little pile grows 

but if theres something else out there you fine people think is a good investment for some one in my situation , then please point me in the right direction and ill go and try to educate my self on that as well 

 

i know financial advice isn't free , so i dont expect many replies to that last bit    

 

i would like to say though folks , this is a great site . very informative in an easy to read sort of way

[lightjaw]

hehe   ok, that's what happens when i try to reply to a post on my tablet first thing in the morning

 

Fair enough bones, and good on you for getting a legacy together for you or for others in the future, nothing wrong with that!

 

I guess that i get worried when i see a post that implies to me (possibly wrongly) that someone has been caught up in the whole buzz around precious metals and are throwing everything they have into it. There are a lot of options out there, and PMs are just one potential investment. 

 

Other alternatives might be

 

premium bonds, relatively low risk

shares, can be risky depending upon the shares bough

ISA's--low risk, but low returns

P2P lending--higher risk but higher returns.

lots more

 

It all comes down to your appetite for risk. As long as whatever you are investing with you can afford to lose, you cant go far wrong. If you cant afford to lose it, then the lower risk the better, but of course with lower potential returns.

 

People like buying silver, myself included, as its physical, you can hold it, it wont disappear, but on the other hand its quite volatile, and while most of us would probably agree that it is very undervalued at the moment there is no guarantee that it will rise in our lifetimes. There, i said it. It might go lower, it might go higher. the chances are that it will go higher over time, but it isnt certain, there is that element of risk.

 

To give you some ideas though of returns, the average stock market return is around 7% i believe.  An ISA might yield 1-1.5%. Premium bonds...well meh

 

So, some bigger returns for your money, tax free if done right too, but there is always that element of risk.

 

Buy PM's, go for it! A bit of silver and gold is probably the right way to go, but if you have got spare cash, look at spreading that risk by investing in a number of different places.

 

Cheers!