How are we all doing on our metals? I'll start
bronco2078
Posts: 10,227 ✭✭✭✭✭
In gold I'm under water , I started late getting in at around 1100 and bought more than half of my stack at above todays price. I don't have anything I paid above 1720 for though. Everything I own is pure bullion nothing that has value above spot particularly. 90% is in coins , 10% in rings no bars at all , its all fractional nothing bigger than a 20 franc .
Silver I'm even pretty much . I bought very little below 10 , I bought a lot in the teens a lot in the twenties and thirties and no bullion above 40.
It's harder to figure silver because I'm all over the place some is hard to classify as pure bullion . When it went to the 40's I switched to buying BU morgans and what not that weren't going up as much as bullion. I was trying to hedge against a fall by buying stuff that would stay up if silver cratered . I don't own any silver bars and very few rounds
I'm not selling anything and other than using up some ebay bucks I haven't bought any bullion this week as I can't find any.
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Ok, I go next.....I bought all of these back in 2008 on a Credit Card Binge...I fondled them for a few weeks..and then....<sob><sniff, sniff>,,,I sold them for double......why!? why!? I could of had a 5 Bagger! I swear Ill never do that again, please God, please, just one more low mintage fractional issue, I promise I will not sell...
as a dealer, I Bought 15 oz gold, 2 oz platinum, 3 1 oz gold buffalo's last Mon before the drop, sold them to one of the national bullion firms the next morning, thankfully
Just got the check yesterday.
Its a different game for us that came in after the bubble. I'm sure that feeling has been experienced during past cycles.
Luckily I got some bulk amounts around $28/29 to balance it out. Some gold in the 1500's and low 1600s. I bought a few thousand in this general low time.
Another friend just got laid off. Asked for advice for protection of their retirement needs later. As a newbie, I could not tell a pure beginner there is no risk in PMs (depending of course on their view of what risk is and their volatility tolerance). But these are unique times now. There is no pattern. (When you are "under", you feel it, even when you have a broader view.) For some like my friend, they just want to hear "Safe." But then, who doesn't?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
The only metals that I'm underwater on, are my recently-bought Freedom Girls and maybe some of the gold 2011 & 2012 issues I bought from the Mint. I have no concerns about any of them.
I'd prefer not to start listing my stuff, but it does add up if you hold onto it, and it's much more comforting to own than stocks, or bonds, or anything else that I can think of.
I knew it would happen.
Close enough to the surface, but if this damn boat keeps leaking.....
<< <i>it's much more comforting to own than stocks, or bonds, or anything else that I can think of. >>
Here's a stock I own that was in the news today
VRTX today
Liberty: Parent of Science & Industry
Before taking delivery, I had already hit the water and the gravitational forces pulled me under... I am currently holding my breath, grasping at the water trying to get to the surface
Right now: 2.2ozs of Au and about 225ozs of Ag in the stack. In the last few years I've bought/sold about 50ozs of Au and 2000ozs of Ag. ~10% average profit for ~$15k in gains. It's mostly been fun and a long way from over IMHO.
<< <i>Most of my bullion purchases were 2006-07 so I'm safely well above water. Did add 2,000 ASEs this week during the fire sale. Will probably add more if the fire gets a little hotter. >>
Ditto , still smiling and no panic.
I ordered 3.85 ounces of GOLD from the mint yesterday at a cost of $6977.45 . It's backordered. Who knows what will happen next week ? Not me , that's for sure.
But I would rather stick with metal than any other trade I've been in , so far. Although the coin business gets boring. REALLY BORING
One concept of investing that is grossly overlooked is this.
Knowledge is the enemy of fear
<< <i>One concept of investing that is grossly overlooked is this. >>
Yep, AKA inflation. Of course we know there's been none of that since 2007.