The art of dealing with PMs is:
tneig
Posts: 1,505 ✭✭✭
The great part about the Precious Metals field for the individual is that there is 'no single defineable set method' to manage PMs.
There is no master set of instructions that tells you exactly what to do for your set of conditions and circumstance. You learn and gain experience from being involved.
It more depends upon how you view the available information and how you manage it and what you do - then it does the external price or conditions or defined set of rules.
There is no master set of instructions that tells you exactly what to do for your set of conditions and circumstance. You learn and gain experience from being involved.
It more depends upon how you view the available information and how you manage it and what you do - then it does the external price or conditions or defined set of rules.
COA
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I knew it would happen.
There are many options on how the build your stack, and it's good to have places like this to gain a bit of knowledge here and there.
But at the end of the day don't forget to make yourself happy.
It's all about what the people want...
Most have a running inventory of their stack in their heads and they have it as soon as their head comes off of the pillow in the morning.
Bleeding off a little in times of home improvement, emergency surgery on the dog, taking the wife on vacation is a good thing.
Stacking while you can and as descretionary funds become available is a simple painless accumulation strategy if the play is long term.
Managing the emotion and impulses of buying and selling exposes the stackers to a Darwinian experience; the weak ones don't last long.
Most folk have their routes that they travel when buying and selling metal and once those routes are set up, the rules of the game become much clearer.
It is very comfortable knowing that you can just reach into the pile any time and take care of most any cash situation that may arise, aka peace of mind.
Dealing with a stack of descretionary PMs means that if you want to, you can just spend it and there will be no net pain to the bottom line.
Knowing that you can actually gain asset appreciation and are situatated in the middle of a bull run is what the cheshire cat was smiling about.
I could go on but the art of dealing with PM's is indeed an art and in some kind of strange way...it is very entertaining.
Dont overthink this.
Knowledge is the enemy of fear
Dont overthink this." cohodk
But, but, but, they are PMs.
Hmm, maybe you kind of did say this? lol...I'm just being more specific.
<< <i>You forgot to add, don't allow yourself to become attached to any of it. Every oz of Silver I own, whether I absolutely love the bar or it's just a generic piece, is for sale...at a set profit that I have determined for myself.
Hmm, maybe you kind of did say this? lol...I'm just being more specific. >>
Spoken like the true speculator that you are.
1) One has inherited coins, (gold and silver) and faced with the question do you sell for profit, or hold and pass on to the next generation.
2) When taxes rise on the sale of profits and it no longer becomes worthwhile.
The single most important factor to PM investing, could involve liquidity and acceptance of gold and silver. Utah passed a law that debts could be paid with such assets. Every state needs to pass such a law.