When will you stop buying an ounce of gold? When it hits $2000? What about silver? Will you stop buying when it hits $25? Lots of threads often ask "when will you sell?" But I'd rather ask "when will you stop buying?"
Off loaded lots of silver several weeks ago, replaced with gold. Saves space. Did not buy gold to sell, only to protect my life's holdings. Au is doing quite well, at the moment. Gary
Gold is up $23 over night pushing the $1550 mark, crude oil surging also with fears of war with Iran, silver not moving much at all but up some
I stopped stacking awhile ago. I'll return to buying when Au & Ag return to the $1,100 & $14.50 range.
Other than yearly purchase of a silver eagle for the Dansco, haven’t bought bullion since 2009. Thinking of selling some junk silver and replacing with gold. One outfit has quoted a reasonable price to make the swap.
Eh, I buy what strikes my fancy. I know tons of people who have been trying to time the stock market the last decade. Almost every time I heard their plan it sounded logical, then they lost money. One of the cardinal rules of investing is to do the exact opposite of what small investors do because they react too much with emotion. So I use the same logic with bullion. I do not know where it's going, so unless it's at extremes like $1800 gold or $35 silver, I just buy what interest me at the premium. I adjust, like buying mostly platinum lately since I think it's a better relative buy, but just continue. I bet lots of people stopped buying Apple at $50 as well...... What is the purpose of your PM pile? Mine is to offset financial risk. I do not know if stocks could tank, pm spike, or vice versa, so within a very wide range I try to keep buying slowly over time.
I buy either one when I can find it enough below spot to guarantee a small profit on a quick flip. With gold at $1550, I might buy at $1500, would probably buy at $1450, would jump at $1400 or below. For silver, I want to come in a bit lower than that relative to spot. At current levels I'd expect to be able to sell (at a coin show) for 11 to 12x spot, so I'd buy at 10-11x. Obviously, I don't get a lot of opportunities to buy. That helps me control my impulses.
Don’t blame you there. I’ve got a couple of coins in my Depression era collection that I consider “non bullion”. I can’t afford the top tier ones but I’m just interested in the history.
The way I look at it is simple. Silver is a hair over $18 per ounce. That $14 of silver in every silver dollar. I can buy Morgan's for $16 each. Silver Dollars, especially Morgan's, have always brought a premium. I can sell them for $20 or more. For the $2 difference I'll be fine.