Cashing out of silver

[Fishface220]

To the moon baby..... thinking about cashing out all the silver for diesel!!!

That’s where the real money is.... a couple of gallons each for the kids should see them right in a few years time! 

[Stacktastic]

Ahh why did I sell my BP & Shell
You live and learn. 

Edited October 18, 2021 by Stacktastic

[Jvw]

1 hour ago, Fishface220 said:

To the moon baby..... thinking about cashing out all the silver for diesel!!!

That’s where the real money is.... a couple of gallons each for the kids should see them right in a few years time! 

I've switched from Bullion to used cars. Not for the actual cars but the leftover diesel and petrol in them.  

Edited October 18, 2021 by Jvw

[Jvw]

I've also understood that the frase : "Running on fumes" translates nowadays to "Making a very very very expensive effort".

[Skyfiller]

Have 2 gallons of diesel here.

Willing to swap for a doctors appointment.

[ShropshireTom]

1 hour ago, Skyfiller said:

Have 2 gallons of diesel here.

Willing to swap for a doctors appointment.

I don’t have a doctors appointment to trade for it, but I believe it’s roughly equivalent in value to the fractional HGV drivers I have for sale. 2 Gallons will get you a rare 1967 vintage 1/100d (don’t confuse the d for old pence, that’s d for driver). What do you say??

[Pete]

Looking back 11 years when I became addicted to silver I was buying one ounce coins for £18 each.
Not the best investment for sure considering the bigger purchases at £30 per ounce later on.
I too would gladly get out but I would loose too much so waiting for the next bubble.
Maybe someone will invent a new battery that requires silver as Lithium will no doubt skyrocket in years to come.
Fortunately other non PM investments have worked out fine cancelling out the pain in silver.
Lesson for all others - diversify and don't get brainwashed in commodities ( sic. slick Youtube "experts" from across the pond mainly ) heading to the moon.

[MonkeysUncle]

I definitely don't want to go the moon. It'll be full of undesirables like Bezos and Branson any year soon...

[billp]

hodl

[Rashka]

On 20/10/2021 at 19:21, billp said:

hodl

hodl gang

[Spark268]

On 18/10/2021 at 05:57, Fishface220 said:

To the moon baby..... thinking about cashing out all the silver for diesel!!!

That’s where the real money is.... a couple of gallons each for the kids should see them right in a few years time! 

If you thought of this scheme 18 months ago, you would have been given 2oz of silver for every barrel of oil that you took home from Cushing, Oklahoma :d

[Arganto]

Well that's a depressing thought I hadn't considered...it takes three ounces of bullion silver to fill my car's tank at the moment...

Any entrepreneurs out there got a working Brown's gas hydrogen setup they want to share (provided you haven't already been CIA'd if course)? Or maybe we could all club together and make our own TSF alcohol still out in the countryside? If we start collecting '90s cars that could run on the stuff we should be golden in the coming years...

Hodl till your hands bleed, stack 'em high silver till I die 😁

[Mcb2007]

Nooooooo I’ve only just started collecting silver now you tell me this .

[Fishface220]

5 hours ago, Spark268 said:

If you thought of this scheme 18 months ago, you would have been given 2oz of silver for every barrel of oil that you took home from Cushing, Oklahoma :d

Give it a year or two and it’ll be gold I’ll need to cash in to fill the car up!!

[DarkChameleon]

On 18/10/2021 at 02:17, Jvw said:

I've switched from Bullion to used cars. Not for the actual cars but the leftover diesel and petrol in them.  

We used to own a junk yard and it was a nice little side hustle..lol.

[AlphaBeast]

HODL TIGHT GANG!

They are even using goldflakes to pay for haircuts in Venezuela.

Might be worth purchasing cheese graters  for those silver flakes!  

I won't have that issue; I have grown my locks and become a wiser AlphaBeast 

Edited October 23, 2021 by AlphaBeast

[Happypanda88]

On 18/10/2021 at 21:23, Pete said:

Looking back 11 years when I became addicted to silver I was buying one ounce coins for £18 each.
Not the best investment for sure considering the bigger purchases at £30 per ounce later on.
I too would gladly get out but I would loose too much so waiting for the next bubble.
Maybe someone will invent a new battery that requires silver as Lithium will no doubt skyrocket in years to come.
Fortunately other non PM investments have worked out fine cancelling out the pain in silver.
Lesson for all others - diversify and don't get brainwashed in commodities ( sic. slick Youtube "experts" from across the pond mainly ) heading to the moon.

It sounded like you were unfortunate to have started stacking and made big purchases near the peak of the silver price spike.

On the other hand, some of us were fortunate enough to caught onto PMs and started stacking in mid-2015. This was when you could buy silver from EU for under £12 per ounce. For those who bought in bulk during that period will have no regrets on their investment. I was pleased to have been "brainwashed" at the right time !  ☺️

Like all investments, it is largely about timing. 

Edited October 24, 2021 by Happypanda88

[Happypanda88]

On 18/10/2021 at 12:57, Fishface220 said:

That’s where the real money is.... a couple of gallons each for the kids should see them right in a few years time! 

Don't diesel evaporate over time just like petrol !?  ☺️

If so, I hope you have very well insulated canisters to store diesel for a few years.

Otherwise, your kids won't be happy being left with empty canisters as inheritance! 😜

I can hear them saying:  why didn't he just leave us with some silver instead ! 😊

Edited October 24, 2021 by Happypanda88

[Fishface220]

7 hours ago, Happypanda88 said:

Don't diesel evaporate over time just like petrol !?  ☺️

If so, I hope you have very well insulated canisters to store diesel for a few years.

Otherwise, your kids won't be happy being left with empty canisters as inheritance! 😜

I can hear them saying:  why didn't he just leave us with some silver instead ! 😊

Hmmm.... just filling the bath up not a good idea then??!!

maybe, I’ll stick to silver 

[Pete]

9 hours ago, Happypanda88 said:

It sounded like you were unfortunate to have started stacking and made big purchases near the peak of the silver price spike.

On the other hand, some of us were fortunate enough to caught onto PMs and started stacking in mid-2015. This was when you could buy silver from EU for under £12 per ounce. For those who bought in bulk during that period will have no regrets on their investment. I was pleased to have been "brainwashed" at the right time !  ☺️

Like all investments, it is largely about timing. 

You are absolutely right - timing is everything.
Picking the winning lottery numbers a few seconds after the results are announced is very simple.

The problem is however that you cannot forecast the future price of any commodity.
Buying natural gas a few months ago would have been nice !

At the time silver was meteorically rising to £30 per ounce, the world's "experts" and PM bloggers were emailing and YouTubing how silver was heading much, much higher, so get in while you can.
Predictions of over £100 per ounce were not unrealistic - then the bubble burst.
The world was running out of silver, the cost of mining rising and China was buying it all up - so we were all led to believe at the time.
Following the herd springs to mind but what else can you do ?
Hindsight is marvellous.

Look back to the start of bitcoin and ask yourself if you had bought in the early days how you would be sitting on a fortune today.
On the other hand I know of an old friend who reckoned you could not go wrong buying Brent Crude Oil on the basis that demand was increasing and supply diminishing so a pretty safe bet.
History shows his big investment in Brent was a disaster.

Even diamonds are an investment risk as manmade perfect clarity etc. gem stones can be manufactured relatively cheaply but prices are manipulated under protectionist agreements.
Who would want to invest in diamonds costing £500 rather than £5000 for the mined version ?

[DarkChameleon]

15 hours ago, Happypanda88 said:

It sounded like you were unfortunate to have started stacking and made big purchases near the peak of the silver price spike.

On the other hand, some of us were fortunate enough to caught onto PMs and started stacking in mid-2015. This was when you could buy silver from EU for under £12 per ounce. For those who bought in bulk during that period will have no regrets on their investment. I was pleased to have been "brainwashed" at the right time !  ☺️

Like all investments, it is largely about timing. 

I started in 05 so got some high and low but was maxing out in 15-20.

[DarkChameleon]

5 hours ago, Pete said:

You are absolutely right - timing is everything.
Picking the winning lottery numbers a few seconds after the results are announced is very simple.

The problem is however that you cannot forecast the future price of any commodity.
Buying natural gas a few months ago would have been nice !

At the time silver was meteorically rising to £30 per ounce, the world's "experts" and PM bloggers were emailing and YouTubing how silver was heading much, much higher, so get in while you can.
Predictions of over £100 per ounce were not unrealistic - then the bubble burst.
The world was running out of silver, the cost of mining rising and China was buying it all up - so we were all led to believe at the time.
Following the herd springs to mind but what else can you do ?
Hindsight is marvellous.

Look back to the start of bitcoin and ask yourself if you had bought in the early days how you would be sitting on a fortune today.
On the other hand I know of an old friend who reckoned you could not go wrong buying Brent Crude Oil on the basis that demand was increasing and supply diminishing so a pretty safe bet.
History shows his big investment in Brent was a disaster.

Even diamonds are an investment risk as manmade perfect clarity etc. gem stones can be manufactured relatively cheaply but prices are manipulated under protectionist agreements.
Who would want to invest in diamonds costing £500 rather than £5000 for the mined version ?

With diamonds I have and still own some and buyers paying premiums don't want Labrada, try telling your fiance you got her a $500 lab made rock for her finger and she'll show you an entirely different finger...lol.

[DarkChameleon]

15 hours ago, Happypanda88 said:

It sounded like you were unfortunate to have started stacking and made big purchases near the peak of the silver price spike.

On the other hand, some of us were fortunate enough to caught onto PMs and started stacking in mid-2015. This was when you could buy silver from EU for under £12 per ounce. For those who bought in bulk during that period will have no regrets on their investment. I was pleased to have been "brainwashed" at the right time !  ☺️

Like all investments, it is largely about timing. 

I recall buying ase for $16 and more recent selling those same eagles for $40 each...while people were holding on for $50 prices that never came.

[Arganto]

Provided it's been bought for a reason other than a 'quick' cash profit there's no reason to get too down on the situation. If you buy a house to live in (not flip) does it matter if during the period of occupancy the fiat value of the building and land rises and falls? It's only really of consequence when buying and selling (unless your leveraging it to accrue debt via a loan of course).

The value of a physical commodity against a paper currency is also not the final word on the commodity's worth, especially during a time of inflation or possibly even a currency reset. You just have to make your own best decision as to where and how to save. At least with precious metal there is history behind it as a "store of wealth", whereas with many other commodities they are transitory in their perceived value. Take cars for example; if you had began collecting what were old bangers in the 80's and 90's, cleaned them up and wrapped them then by today you may well have created a nice nest egg for yourself. If the economy crashed tomorrow though your fleet of four wheeled nostalgia would be worthless to the majority of the population and would possibly even end up costing you if legislation changes were made.

I think what I'm trying to say is don't panic Captain Mainwaring! Do what you're comfortable with and try and zoom out a little rather than hyper focussing on the current week, month or even year.

So give me your diesel, you don't need it 😜

 

[StackemHigh]

I've been into silver since 1990 and gold since 1998. Beat that. Hahahaha