Silver cost averaging... How do you do it?
mrpaseo
Posts: 4,753 ✭✭✭
Do you "gift" away your over priced stuff to lower your average 
?
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Comments
I think it's important to keep good records, but mainly to manage your tax liabilities and not really for bragging rights. jmho
I knew it would happen.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>Why do you care about lowering your average? Especially, why would you want to trick yourself into believing that your average is lower than it is?
I think it's important to keep good records, but mainly to manage your tax liabilities and not really for bragging rights. jmho >>
Bragging right? WTF are you talking about? Why are you a dick?
<< <i>I leave my silver pieces with a collector premium outside of my DCA spreadsheet. I assign those items a value as I would my 19th century dated gold that is not necessarily linked to spot metal prices. >>
This is a good idea.
<< <i>Do you "gift" away your over priced stuff to lower your average? >>
If you are keeping records and giving gifts, best to gift away the lower cost stuff to limit any tax liability.
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<< <i>Do you "gift" away your over priced stuff to lower your average? >>
If you are keeping records and giving gifts, best to gift away the lower cost stuff to limit any tax liability. >>
That's only a concern when selling right?
<< <i>
<< <i>
<< <i>Do you "gift" away your over priced stuff to lower your average? >>
If you are keeping records and giving gifts, best to gift away the lower cost stuff to limit any tax liability. >>
That's only a concern when selling right? >>
I don't have any bars or rounds at all, just ASEs. Figure an average cost for each type. If you give away 20 rounds that have an average cost of $17 an ounce, your sales price is zero and you gain/loss is -$340. If you use a FIFO or LIFO or keep track of each lot separately, you complicate your LIFE. It's a PITA if you mess around with less than roll quantities.
My technique
I just forget when I overpay
<< <i>Giving away stuff doesn't change your buy price IMO.
My technique
I just forget when I overpay >>
<--- I like that.
I keep my PM money and my gift money separate. When I give away a Silver purchase as a gift, I remove (deduct) that purchase from my Silver stack and move it over to the gift category.
I think it's important to keep good records, but mainly to manage your tax liabilities and not really for bragging rights. jmho >>
Bragging right? WTF are you talking about? Why are you a dick?
Why do you care about lowering your average? You're the one making derogatory personal comments, but you didn't even explain why you're asking the question. My mistake for asking.
I knew it would happen.
<< <i>Why do you care about lowering your average? You're the one making derogatory personal comments, but you didn't even explain why you're asking the question. My mistake for asking. >>
Why do I care about lowering my cost average?... Is that a serious question? I have no idea what you are thinking about... Silver is an investment, the less it costs, the better off you are, just like any investment.... What am I missing here?
As for derogatory personal comments, if I see a duck and I call it a duck, I did nothing wrong.
Why I asked the question... Because I was curious to know about if/how others did Silver cost averaging (Dollar cost averaging). That is a legitimate question. I like this forum and would like to see it more active so I try to post threads that others can respond to and I try to not post the same questions that everyone else is already asking...
Next time if you have an issue with me, send me a PM, I will do the same. That said, I'm sorry for calling you a Dick, there is no excuse for that type of aggression on this forum.
Peace.
<< <i>I like this forum and would like to see it more active >>
calling people out, regardless of opinion or question, is a hell of a way for promoting more activity on the forum...
Back to your question, I dont think there are many ways to cost average any asset. Keep buying regardless of price. Personally, I try to buy the same amount every other month and I always make a purchase on big down days. Just what I like to do.
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
If under the veil of investing and you are cost avging , you can't make a bad investment better, but you can make it worse...
You coulda been a contender, but now you just a long term investor, self proclaimed that is...
<< <i>People best get whether they buying for investment or for insurance ... Lol
If under the veil of investing and you are cost avging , you can't make a bad investment better, but you can make it worse...
You coulda been a contender, but now you just a long term investor, self proclaimed that is… >>
Do you mean a 'stacker" ? I don't understand this "gifting" away . Then again, a lot of your thinking I don't understand either.
Then again, a lot of us don't understand the point we are trying to make.
What's available is above ground and it's for sale at a price. ( or ON SALE for a price)
What's not available (held in high regard) above ground goes for a premium above spot. ( Always available at a price)
As with anything, "divesting" is the key, not investing. Want insurance ? Get a dog and a gun. He'll bark when an intruder comes along and you can be prepared with lead and brass, too.
There's a bigger market in bullets right now. Not to shoot holes in anything you're saying, I just don't think PEOPLE in the dark are ever going to get any of it.
<< <i>Do you "gift" away your over priced stuff to lower your average
I don't gift anything away.
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<< <i>Do you "gift" away your over priced stuff to lower your average
I don't gift anything away. >>
Most actually gifted their money away when the bought the silver...that includes you...
I haven't needed to gift any silver away yet . Every few years some loser in my family picks up a drug habit and manages to lighten my stack for me.