My plans going forward and yours?

[Mark10110]

Hi guys and Gals,

I added a couple of my pictures just to add some eye candy to my post.

over the past few years I have been stacking Silver and getting a bit of gold, I managed around 155oz silver and around 3.5oz of gold.

I had a target of 500oz silver and 5oz gold and 2020 to be honest has kicked my ass. I really wanted to get that last 50oz of silver and 1.5oz of gold but the poremiums on silver are just too outragious with around 40%+.

Due to me taking a step back I have not been able to upload any unboxings and I am thinking of going forward with just gold. 

How are you guys tackling the current prices?

I can't see the premiums on silver coming down for a long time (years).

[Robda1986]

I hit my years goal in gold and silver as we went into lock down so now I'm looking at next year's target and see if I can get a head start on that I'm just struggling to find inspiration with what to add silver wise gold is easyer 

[Alex944]

Nice stack you got going!

I think that the high premiums on silver bullion will come down sooner than you may think. A few weeks ago, Silver Britannia's would be around 22-24 Euro with the Silver oz price being around 15-16 Euro. Now you can find them for around 20 Euro at a couple of dealers. It will mainly have to do how the pandemic is affecting the distribution and manufacturing from certain mints. South Africa was in a very strict lockdown and the premiums on Silver Krugerrand's are currently really high, where prior to March this year, you'd be able to find them for good prices compared to the 1oz Silver price.

Personally, this has been a time where I purchased some higher premium silver coins anyway, some Silver panda's (2010 - 2014) and a proof Silverback Gorilla for example, as those prices did not seem to go up by that much compared to the bullion grade silver. I do agree however that now is probably not the best time to purchase bullion grade silver. I have been looking at some smaller gold coins (sovereigns and the like), as well as setting aside a fixed amount of cash so I have a nice amount to spend on Silver bullion once I feel the premiums have gone down to what is acceptable for me.

[RacerCool]

I've pretty much stopped silver buying for this year, unless I find a really good deal on something "I gotta have".

For the foreseeable future it's going to be gold.  

[SilverSlug]

I myself have put a hold on silver purchases, totally focused on adding gold.

Also I would hold the silver, not trade it into gold at this time. Seems like a no-brainer but I hear people are doing it.

Good luck and keep adding to the stack!

[Mark10110]

1 minute ago, SilverSlug said:

I myself have put a hold on silver purchases, totally focused on adding gold.

Also I would hold the silver, not trade it into gold at this time. Seems like a no-brainer but I hear people are doing it.

Good luck and keep adding to the stack!

if I sold my silver now at spot I would be losing cash, if I was to sell it at the prices people are selling on the forum I would be up around £1000 which isn't a huge profit. 

I honestly don't have a get out plan as it was originally for my pension but i am sure if silver spiked to £60 in the next few months (extremely unlikely) I would be extremely tempted to sell.

[SilverSlug]

@Mark10110 at some price point I too would dump my silver for gold, but I am more focused on the ratio. I am not sure that the 100:1 ratio is not the new normal. We shall see.

[RacerCool]

8 hours ago, SilverSlug said:

@Mark10110 at some price point I too would dump my silver for gold, but I am more focused on the ratio. I am not sure that the 100:1 ratio is not the new normal. We shall see.

That assumes gold won't similarly spike. If it did would you still sell your silver?

[SilverSlug]

2 hours ago, RacerCool said:

That assumes gold won't similarly spike. If it did would you still sell your silver?

Not at all, that is why I stressed focusing on the ratio.

[Minimalist]

On 28/06/2020 at 13:24, Mark10110 said:

Hi guys and Gals,

I added a couple of my pictures just to add some eye candy to my post.

over the past few years I have been stacking Silver and getting a bit of gold, I managed around 155oz silver and around 3.5oz of gold.

I had a target of 500oz silver and 5oz gold and 2020 to be honest has kicked my ass. I really wanted to get that last 50oz of silver and 1.5oz of gold but the poremiums on silver are just too outragious with around 40%+.

Due to me taking a step back I have not been able to upload any unboxings and I am thinking of going forward with just gold. 

How are you guys tackling the current prices?

I can't see the premiums on silver coming down for a long time (years).

What software and hardware did you use to get these extreme high def filtered photos? 

[Tangomachine]

I've pretty much given up on silver unless its a really nice engelhard or JM bar. Gold is the way forward for me. Enjoy it much more than silver. Mainly sovereigns, especially shieldbacks, half sovereigns, 1oz britannias and a few bars but not many

Infact I even have a sigma machine on order for piece of mind

[CactusJackSWAg]

Beautiful stack. Yes, the economy and PM premiums have made stackers slow down. Being a relative noob, I have probably ignored common sense to try and catch up. My average cost per ounce is probably a little high, but I'm really enjoying the learning curve. Just this week, I purchased my very first gold coin, a 1/10oz Kook; fractional gold comes with high premiums, but I had to start somewhere, and don't have the discipline to save up for an ounce.

On the "lighter side", some experts claim that copper is really going to take off, so I've gone "all in" on Chinese gold. hahaha

[Mark10110]

14 hours ago, Minimalist said:

What software and hardware did you use to get these extreme high def filtered photos? 

Sony A6000 and a slight touch up with Lightroom

[Kraken]

I had a target to get 100oz of silver by the end of the year - I've blown past that one already! My next target is 1oz of gold by Christmas. I could go and buy one right now but I prefer to keep about six months' expenses in cash, so I'll have to do frac. Excellent pictures btw, really shows the detail of the coins.

[Robda1986]

Fits fairly well tbh

[Scuzzle]

I'm only adding to collections I have started, the price has risen a bit with premiums but I'm hoping this might put the majority off and produce key dates in years to come.

[Arongoldprog]

I just started stacking, brought my first pieces of gold and silver bullion this June. Been thinking about it for a year but covid 19 has really given me the time to sit back and focus. My plan is to stack gold and get a few silver bits here are there.

 

[Tangomachine]

1 minute ago, Arongoldprog said:

I just started stacking, brought my first pieces of gold and silver bullion this June. Been thinking about it for a year but covid 19 has really given me the time to sit back and focus. My plan is to stack gold and get a few silver bits here are there.

 

Good idea bud I wish I'd got into gold earlier instead of messing about with silver for too long

[Arongoldprog]

16 minutes ago, Tangomachine said:

Good idea bud I wish I'd got into gold earlier instead of messing about with silver for too long

I regret it took me so long to get my first bit of gold! All the money I spent on other c**p that could of gone to buying sovs 😪

[Tangomachine]

1 minute ago, Arongoldprog said:

I regret it took me so long to get my first bit of gold! All the money I spent on other c**p that could of gone to buying sovs 😪

Yeah its addictive for sure! I'm after my first couple of 1oz brits next

[ChrisSilver]

Moved to the general precious metals section as topic is about Gold as well as Silver  

[AppleZippoandMetronome]

You really aren't alone @Mark10110 . The last bit of silver I bought this year was in mid March when the price dipped. Since then with the high premiums after all the lockdowns its just not been worth buying and I have bought quite a bit more gold than I ever planned on. I've given up at this point in terms of planning for what I'll do as this period of disturbance has made it clear things can and will change dramatically enough to make plans no longer viable - and I fear we're only at the beginning of disturbances still. I had yearly targets for silver - those are out the window. 

These days I'll take things day to day and when an opportunity presents itself that I feel is worth while I will pull the trigger. There are no solid plans anymore apart from a more pressing feeling that I need to convert cash to physical assets.