Is 100oz Silver Enough?

[365DaysofSilver]

Hello everyone 👋🏻 

I’m fairly new to stacking precious metals. I only started this year (2021). 

I’ve just reached my target of 100oz of silver & my question is…

Is this enough or should I continue to add each year? My plan was to reach 100oz and then lock it all away and sit back.

Thanks in advance for your replies!

[Gordy]

I couldn't possibly comment as im more addicted to the shiny stuff than Kim Jon-Un is to dodgy haircuts.... right now i'd say get yourself some more due to the dip but do you really think you will be able to stay away from it? after all you are literally buying money with money... its not like you are collecting model cars or train sets... just tell your missus you know what you're doing and hope the postie comes when she's out... 😂😂

[RacerCool]

How's that country song go?

"No such thing as too much money

A girl too pretty, with too much class

Being too lucky

A car too fast"
 

[KevinFlynn]

How much is enough depends on your investment strategy, your portfolio and last but not least on what you're stacking for.

Do you have a plan on how much of your portfolio you want in precious metals? Do you hold other cornerstone assets, like real estate? Are you on a run to convert your fiat money to something more substantial? From your savings or from your income? The answer lies in the answer to questions like these 🙂

Buying then sitting back sounds like you at least wanted to have some silver in your portfolio, I think three kilos is very nice for that. It would be a speculative position for a silver to the moon scenario.

Personally I think it is a good foundation for more. After an initial 100 ounce I could take it slower and look around. Buy a little to cost average my cost? What about VAT? What about diversifying in gold a little? Some or more semi collectibles for fun?

Yearly purchases would go against cost averaging, meaning you could be lucky if your purchase falls on to a dip or unlucky if you buy on a rise. If you decide to make it a regular investment I advise to split your yearly budget and buy monthly.

[Jvw]

9 hours ago, Mothballjim said:

Hello everyone 👋🏻 

I’m fairly new to stacking precious metals. I only started this year (2021). 

I’ve just reached my target of 100oz of silver & my question is…

Is this enough or should I continue to add each year? My plan was to reach 100oz and then lock it all away and sit back.

Thanks in advance for your replies!

First of all, Welcome to stacking! And i agree with the people above. I can't answer your question. I do recognize your method in mine though. I had no idea what I was doing when I started stacking. I bought silver and sold some on highs, then realizing I had to buy more silver with my winnings when the price was even higher, and eventually (after making some profit) i ended up with less silver in weight for the same price I started with. 🤔

So i do have a couple questions for you.

1: What will you do with the money you now save each month if you won't buy any more silver? (Invest? let the bank hold it? spend it on life?)

2: How long will you sit back, and what will you be waiting for? (Will you hold it forever or sell at a certain point?)

 

In other words, I think you need a strategy. And your strategy will answer your question.

 

Edited September 18, 2021 by Jvw

[modofantasma]

11 hours ago, Mothballjim said:

Hello everyone 👋🏻 

I’m fairly new to stacking precious metals. I only started this year (2021). 

I’ve just reached my target of 100oz of silver & my question is…

Is this enough or should I continue to add each year? My plan was to reach 100oz and then lock it all away and sit back.

Thanks in advance for your replies!

Hey mate welcome 

Enough for what? Depends what your plan is and as others have mentioned what else you're doing. 

With 100 oz even if silver were to 10x in price it might be a nice little tickle one day but not going to be retirement kind of money. 

[stefffana]

Hi, and welcome!

I think you did very well 100oz silver in 6-9 month. Well done!🤗

100oz silver are not enough for your retirement.

For long term run, you need to be very consistent with your stacking. Try to set up in your monthly budget a certain percent for precious metals and buy more. But not only silver. And at the lowest premium possible, easy to sell when the time will come.

I don't know your monthly income, but if is a decent one you can spend every month 15-20% for gold and silver.

Example:

£2500 after taxes x 20% = £500 for precious metals per month.

£500 = 1 gold sovereign (£325) + 7oz silver (7  x  £25 = £175) monthly.

In one year you can add to your stack 12 sovereigns (87.84g equivalent pure gold) and minimum 84oz silver.

I don't know how old are you, but if your keeping expectation is 25 years, in your retirement pot can be 300 sovereigns (2196g equivalent pure gold) and @ 70kg silver. I can not predict a future price for gold and silver, but I am sure that will be a happy end comparing with bank savings account or NEST retirement pot.

Happy stacking, my friend!🤗

Stefan.

 

 

 

[motorbikez]

@Mothballjim No

[Bigmarc]

14 hours ago, Mothballjim said:

Hello everyone 👋🏻 

I’m fairly new to stacking precious metals. I only started this year (2021). 

I’ve just reached my target of 100oz of silver & my question is…

Is this enough or should I continue to add each year? My plan was to reach 100oz and then lock it all away and sit back.

Thanks in advance for your replies!

In the past year I've just had a reshuffle and am working on 15 Oz of silver to 1 sovereign. I had been wanting to do it for a while and whilst the premiums were up I thought I would do it. If it was the right decision, who knows? 

It took me a lot longer than a year to get to my first 100 Oz but this is more of a hobby than a investment. So I say the question you should ask yourself is, am I enjoying what I am doing? If the answer is yes, then carry on. In no then lock it up and move onto something else (crypto is a good one to learn).

[dicker]

Its a personal decision. Personally, I have tailed off my buying of silver because of the premiums, but persist with my Morgan collection.

People on the forum have vaious sizes of stack.... from nothing to many thousands of ounces. Your personal circumstances will dictate what you need to know.

[marianO]

My answer is: it depends.

100 oz of silver is too few to make a fortune but should be enough to survive a short chaos.

[MetalMandible]

100 oz puts you well beyond the vast majority of humans on the planet, in terms of physical ownership of the wonderous white metal.

Should you accumulate more? 

Would having it really make a meaningful difference in your future?

These are questions that only you yourself can answer.

[LawrenceChard]

On 17/09/2021 at 20:31, Mothballjim said:

Hello everyone 👋🏻 

I’m fairly new to stacking precious metals. I only started this year (2021). 

I’ve just reached my target of 100oz of silver & my question is…

Is this enough or should I continue to add each year? My plan was to reach 100oz and then lock it all away and sit back.

Thanks in advance for your replies!

I can see you have already had a number of varied responses.

I could add, no, the next stop is 100 kilos, followed by one tonne.

The owner of our local Chinese take-away recently told me "won tun very good".

I usually advise investors to buy gold because it is exempt from VAT in the UK and EU, whereas silver, platinum, and most other things are taxed. It doesn't make much sense to pay the government 20% tax up front on an investment. (This was the serious suggestion).

Be careful, because some of these TSF members will tell you that you have too much silver and offer to take it off your hands for a reasonable price. 😎

Edited September 18, 2021 by LawrenceChard

[CollectorNo1]

Back the truck up!!!!!!

[Stuntman]

Definitely not enough unless it's purely for the pleasure of ownership, as opposed to being an investment.

I have less than 100 oz of physical but about 1000 oz in ETF holdings and that's definitely not enough if it was my only investment.  Fortunately, my investments are more diversified, not only into Gold and Platinum but also into global equities, property and art.

[CollectorNo1]

14 minutes ago, Stuntman said:

Definitely not enough unless it's purely for the pleasure of ownership, as opposed to being an investment.

I have less than 100 oz of physical but about 1000 oz in ETF holdings and that's definitely not enough if it was my only investment.  Fortunately, my investments are more diversified, not only into Gold and Platinum but also into global equities, property and art.

It's horses for  courses at the end of the day...

[LawrenceChard]

1 hour ago, CollectorNo1 said:

Back the truck up!!!!!!

That's very similar to what someone told me earlier, although it started with "Shut..." 😎

[CollectorNo1]

6 minutes ago, LawrenceChard said:

That's very similar to what someone told me earlier, although it started with "Shut..." 😎

Well I would say to that comment with respect...he hasn't got the foresight to the potential value of silver in the next year,or 2..  .🥺

[Gordy]

1 minute ago, CollectorNo1 said:

Well I would say to that comment with respect...he hasn't got the foresight to the potential value of silver in the next year,or 2..  .🥺

It was more likely the wife when he asked what was for tea!!! 😂

[CollectorNo1]

3 minutes ago, Gordy said:

It was more likely the wife when he asked what was for tea!!! 😂

She probably tried to persuade him to spend his spare cash on buying her shoes and handbags.....women!!!!!!🙄🙄🙄🙄????

[sixgun]

On 17/09/2021 at 21:31, Mothballjim said:

I’ve just reached my target of 100oz of silver & my question is…

Is this enough

No

[MrTT]

On 17/09/2021 at 21:31, Mothballjim said:

Hello everyone 👋🏻 

I’m fairly new to stacking precious metals. I only started this year (2021). 

I’ve just reached my target of 100oz of silver & my question is…

Is this enough or should I continue to add each year? My plan was to reach 100oz and then lock it all away and sit back.

Thanks in advance for your replies!

I passed 600 oz of AG, 1 month ago 🤠

[sixgun]

45 minutes ago, MrTT said:

I passed 600 oz of AG, 1 month ago 🤠

Keep going. 100 kg is a decent amount. Reach that amount and then keep going. 

[SilverStorm]

My only advice on stacking (regardless of which PM) is that you look after your daily/monthly/annual needs first.  There's no point buying and stacking PM if you hit a financial road bump, and then forced to sell the metal at a loss.   So this means taking care of rent/mortgage/utilities/retirement plan/health plan/etc first.   And then have enough cash savings on hand in the bank - just in case you get laid off from work, and you need cash to pay your bills.   So anywhere from 3-6 months of your salary.   Then if you got any extra money left, you can then consider buying some silver or gold.   Good luck!

[Bigmarc]

2 hours ago, SilverStorm said:

My only advice on stacking (regardless of which PM) is that you look after your daily/monthly/annual needs first.  There's no point buying and stacking PM if you hit a financial road bump, and then forced to sell the metal at a loss.   So this means taking care of rent/mortgage/utilities/retirement plan/health plan/etc first.   And then have enough cash savings on hand in the bank - just in case you get laid off from work, and you need cash to pay your bills.   So anywhere from 3-6 months of your salary.   Then if you got any extra money left, you can then consider buying some silver or gold.   Good luck!

This is exactly the point I am at but at a crossroads about keeping money in the bank. I was reading a article yesterday from the ft, there seems to be a push to promote investment.

https://www.ft.com/content/a8f4b690-489e-49cb-9abd-e7972cfc6b0b 

Not sure if the link works if you are not signed up 

 

Edited September 19, 2021 by Bigmarc