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What is your personal philosophy on PM ownership?

COINB0YCOINB0Y Posts: 4,505
in Precious Metals
Buying now? Holding? Selling Any? Waiting?

Silver? Gold? Platinum?

What about the Miners? Who are the best Miners?

Which Miners have the most metal in the ground and can get at it the Best?



I am torn right now, I'm cash heavy, no Gold at all, but I hold a lot of silver (I sold most of my gold @ $1,000+ and the rest on the way down before it hit $895)

I'm back nibbling a little Gold thru DPG and GLD in swing trades + buying 1/2 oz. Graded Gold Coins because you get the best rebate/purchase % with MS Live which gets you a little below Paper melt.

I want to buy the Miners as cost of producing Gold has been slashed, but there is a lot of research to read thru.

I thought this thread might lead to a good ‘skull session’ of different strategies.

Comments

  • CertifiedGoldCoinsCertifiedGoldCoins Posts: 1,644 ✭✭✭
    Selling now would be crazy, with the Fed creating Dollars out of thin air, and shoveling them out to all comers. Washington is broke, but that won't stop Congress from increasing spending next year.
    Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.

    my early American coins & currency: -- http://yankeedoodlecoins.com/
  • jamakinjamakin Posts: 1,055
    Buy what you can afford when you can afford it , no point in taking on debt to hold PMs
    Then take a nice picture of it so you can view your PMs that have artstic appeal
    Then store it in a safety deposit box and forget you own it. In about 10 years I will decide if/what I want to sell.
    This works well for my all my PM needs.
  • garsmithgarsmith Posts: 5,894 ✭✭
    Hoping prices go back up so I can sell a little
  • garsmithgarsmith Posts: 5,894 ✭✭


    << <i>Selling now would be crazy, with the Fed creating Dollars out of thin air, and shoveling them out to all comers. Washington is broke, but that won't stop Congress from increasing spending next year. >>



    image next years administration is going to spend like never before and tax us for that spending.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    I'm buying mostly bars and trying to sell some rounds that I don't want. Bars are much easier for me to stack than rounds.

    Good time to buy I think. If you have lots of silver already, get some gold.
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • gecko109gecko109 Posts: 8,231 ✭
    Hmmmm, a stack of precious metal or a stack of paper with ink? Tough choice!image
  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    I just love silver, gold is OK, but silver...image

    I'm taking advantage of the MSN live money. I'm buying.
    Becky
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭


    << <i>

    I'm taking advantage of the MSN live money. I'm buying. >>




    image

    I have some cash sitting I would like to do some buying/selling too, if I can find the right deal, but I have bought quite a bit at around 13 bucks per ounce recently with the cashback deal.
    imageQuid pro quo. Yes or no?
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Hit up your local yard sales, antique stores, B&M stores, flea markets, outlying B&M stores, craigslist and if you still haven't found gold and silver there, hit up ebay image

    I was able to get a round of silver for 7 and another round for 10 a few weeks back just by looking around locally. Not much right there but it adds to the collection.

    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Sure, let's compare notes; always a good exercise with this crowd. Good topic, especially with our current economic/political situation. I can't say that I'm hard into making money with my strategy but I seem to inspite of myself.

    1. Accumulate: It is the only way I can play because I just don't have lumps of frns to throw out there but I do have a little spare cash from time to time. Hey, no apologies, I'm still a collector too.

    3. State of things: I'm keeping a low profile and trying to make it smaller yet. I'm heavy into plan B planning.

    4. Miners: Yep, what to do. I'm turning into do you want a certificate for a boat or a boat kind of guys and don't see much reason to put cash on the line for a miner. Mining stocks are not a buy and hold item, to me, they are for players and I'm not a player.

    5. Buying and selling: Sure, a little here and there. Accumulate when you can, sell when you need or want to, particularly if you can get a nice premium from buy price.

    Well, just my take on the topic. Good Luck!

  • CladiatorCladiator Posts: 18,038 ✭✭✭✭✭


    << <i>I just love silver, gold is OK, but silver...image >>

    Kinda funny coming from a user with a gold icon coin image Here's a silver version of your icon DorkGirl ----> Link to 5oz Silver Helvetia
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    It's smart to diversify.

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭


    << <i>

    << <i>I just love silver, gold is OK, but silver...image >>

    Kinda funny coming from a user with a gold icon coin image Here's a silver version of your icon DorkGirl ----> Link to 5oz Silver Helvetia >>



    Thanks for the link, I don't have any 5 ozers. I do have a couple of 1 oz versions though.

    My problem as a hoarder/accumulator is volume. I can buy a bunch more silver for my money. imageimage


    Becky
  • jmski52jmski52 Posts: 22,795 ✭✭✭✭✭
    Buying now? Holding? Selling Any? Waiting?

    Everything is allocated to pms, cash and real estate. Income is anticipated shortly and new money will be deployed toward the same 3 types of assets in varying amounts as opportunities present themselves.

    Silver? Gold? Platinum?

    Alternately, each in its own turn. And palladium might get a nod, if the sucker hasn't taken off completely by the time I am ready.

    What about the Miners? Who are the best Miners?

    Which Miners have the most metal in the ground and can get at it the Best?

    Doug Casey's gold newsletters might be worth your time, as they do a good review of the mining industry and are pretty in depth on company profiles.

    I am torn right now, I'm cash heavy, no Gold at all, but I hold a lot of silver (I sold most of my gold @ $1,000+ and the rest on the way down before it hit $895)

    I'm back nibbling a little Gold thru DPG and GLD in swing trades + buying 1/2 oz. Graded Gold Coins because you get the best rebate/purchase % with MS Live which gets you a little below Paper melt.

    I want to buy the Miners as cost of producing Gold has been slashed, but there is a lot of research to read thru.

    In general, I'd much rather have some gold than not. And I'd always advocate a step-wise move, unless I had REAL strong feelings one way or the other.

    I am tempted to buy a roll of the HR Golds.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • trozautrozau Posts: 3,455 ✭✭✭
    Buy and hold (keep is a better word) a few ounces (of gold and/or platinum) every year (as savings). image
    trozau (troy ounce gold)
  • jdimmickjdimmick Posts: 9,667 ✭✭✭✭✭
    I buy it as it comes in and sell it the same day.

    I havent had as many people selling at the lower levels as when it was up. Many more buyers , then sellers currently!! Problem is I cant find it relative to current spot levels to fill orders and most dont want to pay the steeper premiums.

    My take on the future, I belive it will continue to fall or at best level out in the short term as we contiune in a deflationary time, but when all the bail outs take place and give aways, then look out !! But that could be a few years away?
  • HonoluluDudeHonoluluDude Posts: 2,167 ✭
    My philosophy is not to drink too much of the PM Kool-Aid (see: Sinclair, GATA, Ted Butler), but have a "just in case" stash as insurance.
  • MrEurekaMrEureka Posts: 24,240 ✭✭✭✭✭
    What is your personal philosophy on PM ownership?

    My "philosophy" is that PM ownership is best left to paranoid barbarians.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • ttownttown Posts: 4,472 ✭✭✭
    Well even though much of the money I made in 79/80 came from searching half dollars at the bank, which there was plenty then I learn I wouldn't want a bunch of bars to kick around if silver ever went back to $4 (same with generic bullion coins). I told myself then if I ever collected anything it would be classic coins tied closey to spot. We'll today it's $20 double eagles, proof and UNC W plats, and junk silver (a least I might be able to make some circulated sets for them).

    If it goes up fine it not your left with something that is historic. I guess if I were to buy bars they would have to be old and historic.
  • jmski52jmski52 Posts: 22,795 ✭✭✭✭✭
    PM ownership is best left to paranoid barbarians

    grok! Conan pauses, and thinks to himself "I am glad that I don't live in the future, when they are going to re-distribute my wealth after I spent my whole life working for a living."

    "They will probably hyper-inflate the fiat currency and ruin all of the nice premiums for classic gold coins." grok!
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • RedTigerRedTiger Posts: 5,608 ✭
    For the long term, its good to have a small but useful physical stash that one never sells, as insurance against certain extreme economic or political scenarios. Examples might be hyperinflation, medical or ecological disasters that force quick relocation, change of government (meaning away from Democracy). These kinds of events haven't occurred in the U.S., but have occurred many times in other parts of the world, and in some cases not very long ago. Other assets such as stocks, bonds, deeds to real estate, paper money cash, may be rendered worthless in some of these scenarios, so the physical is a form of insurance.

    For the short term, forum sentiment can be a useful indicator. The odds favor buying when the newbies are selling, and selling when the newbies are buying. If the newbies aren't leaning strongly in one direction or the other, then do no signal is given. As always, no indicator is 100%.
    Investment blog: gold, stocks and more
  • GriptionGription Posts: 228


    << <i>My philosophy is not to drink too much of the PM Kool-Aid >>



    i agree.. lots of hype out there

    i'm gonna slow down and see what happens with the premiums, and rotate my stuff along the way i guess.. it'll spike but i bet it takes way longer than anticipated.

  • trozautrozau Posts: 3,455 ✭✭✭
    An Icelander forum member at Kitco is sure glad he put his savings in gold before the meltdown in Iceland. Original Kitco thread link from Oct 1, 2008: link
    trozau (troy ounce gold)
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    My approach... slowly accumulating gold, a little silver. Other financial goal - paying down the mortgage on my rental property, just to free up some future cash flow. I don't see any sign to dive fully into PMs right now. I think we're years away from seeing substantial inflation; in the meantime we may even see some deflation. But when it comes, everyone will know it's here.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>What is your personal philosophy on PM ownership?

    My "philosophy" is that PM ownership is best left to paranoid barbarians. >>



    My ancestors were Goths. I guess that explains why I like PM's.

    Ren
  • lathmachlathmach Posts: 4,720 ✭
    Get out of Gold and Silver.
    Put all the money you can into Taconite.
    Take physical delivery.

    Ray
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Get out of Gold and Silver.
    Put all the money you can into Taconite.
    Take physical delivery.

    Ray >>



    With or without "fire" sauce?

    Ren
  • tggrtggr Posts: 748 ✭
    Buy what you can afford when you can afford it , no point in taking on debt to hold PMs
    Then take a nice picture of it so you can view your PMs that have artstic appeal
    Then store it in a safety deposit box and forget you own it. In about 10 years I will decide if/what I want to sell.
    This works well for my all my PM needs.
    I agree with you,image
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