I was thinking yesterday (never a good thing) and I came up with a long term goal. When I tip over, which shouldn't be for at least 30-40 more years, I'd like to have collected at least one American Silver Eagle for every day I was alive. I've been alive for 15,109 days. If I live to a ripe old age of 80, that will be about 29,220 days. I'm nowhere near on track for that kind of pile, but I do think it's possible, especially if silver gets back down to $10/Oz. I think somewhere between 15,109 and 29,220 ounces of silver would be a great inheritance, even if it is divided amongst three children. I also think looking at a pile of ASE's, each one of which represents a day in a person's life, gives it meaning. Too bad they didn't start making the ASE until 1986, because I think it would be really really cool to have 356 from each year, and 357 from each leap year. Speaking of buying, silver just dropped below $27. WooHoo! Anyway, for this thread, I was wondering if anyone else has long term goals with their bullion investing. If so, please share!
Blaubart, I mean this with all respect, I think the motivation behind any investment plan should not be "I think it would be really cool". It seems like you are hoping for the price to continue downward, as you are buying all along, just so you can get a big pile. This makes no sense. It sort of makes me think you don't like money. You need to think this one through Mike
My bullion goal is to make money. For those here who are uncomfortable with the word "money," the goal is to increase my net worth. It's another tool in the toolbox.
Point taken. By "cool", I mean memorable. I'm 41 and my wife and I already have enough investments/retirement savings that we could retire today if we wanted to. I'm not really looking at this as an "investment", but an interesting way to horde wealth for my kids. Besides, if silver does settle down at an inflation adjusted price that is on par with where it was before the recession started, we'd be looking at $7-10/Oz. What's $8-12 a day for squirreling stuff away? That's the price of a good cheeseburger a day. Certainly nothing that requires any sort of serious consideration or planning. ...and yes, I do want a big pile of coins!
Absolutely! If I ever amass a substantial amount of PM's, I will have to get a bigger/better safe. The one I have now is good, and it's bolted in place, but there's always room for improvement. There's always my other hobby too: If they do come for my stuff, they'd do well to make sure I'm not home. :yes:
I think the reason for collecting anything made out of precious metals whether it's legal tender coins, bullion coins, bars or whatever is to protect your money against inflation. If you end up making a profit over and above inflation protection as people are doing at the moment in selling their long term gold collections, that's a bonus. By your criteria of weight you could just as well collect worn out 90% silver dimes and other coins which are sold cheaply at below the silver price often in large lots.
Understood, if you consider it collecting, rather than investing, we all wear our own path in this world. Mike
My goal has been 1000 OZT in bullion silver. I should be close by now. I've been buying mostly silver eagles and maples and a few bars. I'm thinking of focusing on bars... like NTR bars going forward... because of the miniscule silver premium. That is, the stuff I buy outright from retailers and not off silver sellers. I would think 29000 ounces would require a personal armored truck or a safety deposit room.
I hope to hit 1,000 ounces of silver, 10 ounces gold, and some platinum and palladium, along with some numismatic items over about the next 25 years. Then sell most of it 30 to 35 years from now. Yes, I'm betting on a spike in that time frame, but if not, I'm cool with getting what I get. Is it sound "investing"? I don't think so, but it's enjoyable to me and it's a little diversification since I have been saving and investing in other ways more aggressively. In short, coins are for fun, and if it pays off a little or acts as insurance, that's fine. I also am always buying for my son. I'll dump them on him whenever he graduates from college and/or buys a home to use as he wishes.
Maybe at those number of ounces, Blau, maybe, for the sake of storage and security, you should switch to gold. Storing 20-30 thousand ozs of silver would be a pain, but the equivalent $ amount in gold should take significantly less space.
There's an upside to storing a ton (literally) of silver. It would be a little harder to steal than the same value in gold. 2,000 lbs of silver. 35 lbs of gold. Forklift for the silver, backpack for the gold.
I've only just started collecting silver bullion. I'm keeping to the 1oz coins like maples and eagles for now and my long term goal is to have a nice sized stack that I can sell once the spot prices rise enough to make a nice profit per ounce. I'm more than happy to keep collecting for the next 10-20 years as I'm only 24 myself. Silver Bullion is my only investment at the moment aside from a pension that I'm paying into. I also don't have a whole lot of money to put in so I'm buying every month from my paycheck. Spot price going down at the moment is perfect for me starting my collection? I'm investing for myself and my own gain but would like to think I could pass on a stack each to my two toddlers as an inheritence. ~Russ
I'm trying to gather enough silver to fill my bathtub. Then I'm goin' to git nekkid and jump in and go muwahahaha!
My goal : 21 ASE per year and one common date uncirculated $20 liberty. Most of my investing is my house and my 401k.
If I were going to try to have a coin for everyday I've been alive, I'm going to have to look towards pennies. Nickels might be possible but stretching the budget.
What you do in your spare time is your call, dude.... but you can keep those kind of thoughts to yourself.....
You could combine your two hobbies and collect silver bullets, that way you will never have to worry about werewolves and should someone break in, you could be generious and let them have an ounce or two.