Silver Price Watch
- Thread starter STKR
- Start date
Yer I would have typically have sold my stack on a vert line like that on price graph lol, and waited for a price fall to buy back, However on this occasion
Too much political head winds atm the sell. there will be a short fall imo, probs not for very long even knowing that you cant sell physical as there would be not enough chance to buy it all back, there is no fucken silver available to buy unlike previous dips, over the last 20 years where excitement saw good fast ups, those times I sold every time knowing there was a chance to buy back on a dip as there was always stock available. This time no dealer has any in stock and havent really for years now so there is little point for a sell and wait for the dip unless you were playing with paper silver.
there will be a short lived dip IMO but yes thats a scary looking vert on that graph. shame there is no oppertunately to make a few bucks off a quick sell and buy back like previous years. no one seems tobe selling physical it will only be the the paper silver guys.
$20 silver has spoiled me over the years. Hard to justify spending $1200 on 10ozs of silver these days, but hindsight will likely reveal that $120 silver was a bargain. It's much nicer having acquired PMs early on and watching the market do it's thing than feeling pressure to buy into it. Sometimes we get caught up in watching the price action that we forget the reasons why we chose PM's in the first place. I could've place my $$ anywhere of I were just looking for a healthy ROI, but nothing else would've protected me from the risks in the system like PM's... And silver was the most obvious choice with the GSR climbing to 100 and beyond.
Typical when there's a gap up to correct and fill the gap, but a $15 swing in a couple of hours is pretty wild.
Silver is known for its volatility, so let us enjoy the ride. A rollercoaster would be boring if it only went straight up.
You just gave me something to do.I can just imagine the phone calls ABC would be getting asking why their spot price is so distorted
Wow, their hold music is fucking grinding. Distorted as heck, up beat high pitched. The only reason to do that is to dissuade people from staying on hold.
crazy when the price swings over a couple of hours is about the price I paid for per ounce lol dollar cost average of my stack is $19 an ounce. lol and Im seeing $15 price shifts in a couple of hours lol thinking fucken hell that value on my stack per ounce added and then removed in a few hours is almost what I paid per ounce lol
ahaha yer, when i first started buying it was $7 an ounce, I was buying vacuumed sealed sheets of 1 ounce Sunshine Minting bars off yahoo auctions when that was a thing before ebay Australia for $6 an ounce and no one was buying silver as it was not liked at the time, so buying under spot was very common as no one was bidding against me for those bars lol, dealers mostly focused on gold, silver was worthless so buying up bars that were left over from the silver pump and crash decade before was so cheap and plentiful. I was in my teens at the time and people said to me Im wasting my money on silver as an investment lol, but I was paying fuck all so I didnt care much lol. I sold my entire stack in 2011 at $36 an ounce and I was winning big time I thought, as my purchase average was around $9, lol I started re buying after it crashed got back upto my 1000ounces at at an average of $19 an ounce. had a few small offloads and rebuys over the years, but always kept around the 1000ounce mark, and completely stopped buying around the covid bullshit era as you couldn't get silver. I instead moved onto gold since covid as I was light on gold and So I just left my silver stack sit there. I do wish I could go back to the $7 an ounce days and have bought more than I did lol my stack would be far bigger than only 1000ounces if I could do that again lol.
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1000ozs is still a whopping stack. Considering Australia's population is only 0.33% of the world's population, and global mining output per year means everyone in Australia could only own 30oz's before it's all gobbled up. You're in the top 10% of silver holders in the world.
I tell you what though, if a bunch of us business-minded stackers got together and pooled our resources, we could really do something significant.
I have a 1/2kg vintage ABC bar I bought off a guy for $9 an ounce, I went to pick the bar up from the seller, and he was happy to get rid of it.
He told me this bar was unlucky for him. He said he was a surfer at the time in the early 80's when he got it down in sydney, silver had got to $33 an ounce and he heard on the radio people were going to ABC i think it was McQuarrie street and there was huge lines for silver, he had a few beers under his belt and his mate said to him we should go, He had never bought silver in his life, but he ran down there as quick as he could to ABC, on the way he was speeding and he got pulled over and breath tested about 500m from ABC, he lost his licence and had a huge fine, he walked the rest of the way with his mate, he spent the last of his money on this 1/2Kg bar then the next day the price crashed ahaha. and it never went back up in the time he owned it, he said he was ripping me off at $9 an ounce. I have kept that bar ever since. Its my lucky bar, lol, Oh I forgot to add and the speeding and drink driving fine and him spending the last of his cash cost him his missus at the time ahaha.
It is my favourite bar
But any way that is why it was so unpopular for in the late 90's early 00's the memory of silver pumping and crashing made no one do it, Australia did have fomo on silver once.
He told me this bar was unlucky for him. He said he was a surfer at the time in the early 80's when he got it down in sydney, silver had got to $33 an ounce and he heard on the radio people were going to ABC i think it was McQuarrie street and there was huge lines for silver, he had a few beers under his belt and his mate said to him we should go, He had never bought silver in his life, but he ran down there as quick as he could to ABC, on the way he was speeding and he got pulled over and breath tested about 500m from ABC, he lost his licence and had a huge fine, he walked the rest of the way with his mate, he spent the last of his money on this 1/2Kg bar then the next day the price crashed ahaha. and it never went back up in the time he owned it, he said he was ripping me off at $9 an ounce. I have kept that bar ever since. Its my lucky bar, lol, Oh I forgot to add and the speeding and drink driving fine and him spending the last of his cash cost him his missus at the time ahaha.
It is my favourite bar
But any way that is why it was so unpopular for in the late 90's early 00's the memory of silver pumping and crashing made no one do it, Australia did have fomo on silver once.
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it aint retirement big lol, But silver has helped contribute to me buying businesses and deposits on houses, when I have done sell offs, always invested the profits and rebought on the dips. so its done me well.
silver was much more predictable than it is now. was rather easy to sell on pumps and buy on dips. hard todo that now due to supply.
Not in today's world but consider there might be a time where we have a currency reset and your PM's are actually worth something when everything else crashes. You could easily be in a great spot to reposition yourself to retire big. View it as 1000 tools and possibilities when the opportunity presents itself.
I didn't start buying until after the 2011 crash, It was/is my bank, I haven't kept a bank Balance over a few hundred dollars since I started, I slowly accumulated around 800oz, then my grandma left me some cash, pretty much exactly enough for a 1000oz bar, and without thought I happily dumped it all in. Kept slow buying after that.
I've had to sell bits and pieces over the years cos I've been all in the whole time, but timing has worked in my favour, and I've never had to sell at a loss.
Now I'm sitting on about 1800oz Of silver and I can't wipe the smile off my face.
I've had to sell bits and pieces over the years cos I've been all in the whole time, but timing has worked in my favour, and I've never had to sell at a loss.
Now I'm sitting on about 1800oz Of silver and I can't wipe the smile off my face.
Im not upset with that amount that was my goal and stuck to it, thats just silver, its one of many investments, other wise I would have been very lop sided with investments, But saying that At $7 an ounce days when I first started buying as an apprentice lol I should have gone more ahaha. 1000always seemed like a good number, while these days I have houses, businesses, gold and so on its in a good position. for sure, Ive had many thousands of ounces over the years If i counted the times I bought and sold, but yer ive always keep around 1000 on hand at once, as I did sell when I felt the times were right only to rebuy.
I do love the fact that when it was $7 an ounce no fucker wanted it lol, man i got told how silly I was buying silver in those days lol from the people who were just drinking their pay each week lol
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