How do all the old timers feel about "silver stackers?"

You just proved to me that it does still exist.

 

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I began "stacking" in the 1970's, long before I knew that's what it was called. The profit I made unstacking in 1979 provided the seed money for the business I founded in 1983, which still provides me a living today.
Meanwhile, my subsequent restacking during the doldrums of the 90's was rewarded in 2011 with another price spike, during which I sold enough that I have net zero invested in the remaining stack.
Tell me I was foolish, you Wall Street guys.

 

I have a kinda naive question:

What about the capital gains tax when you sell?

I mean, if you sell a stack... isn't that subject to capital gains, and doesn't that have to figure into your P and L?

 

No you weren't foolish, but I would guess very lucky to have needs conform with or near market highes. But most members of the bullion group seem to be the buy and hold until the asteroid is 3 miles away. They would have hung on expecting the price to keep going and have no gain at all. Many here have done the same as you did with stocks ( they are still considered foolish by many) or real estate property or various combinations. SO out of curiosity, when do you expect the next time to sell and/buy?

 

Grab a switch and meet me out by the wood shed...

 

As mentioned timing was on your side. There was a 2 decade period where if you had to or chose to sell you would have gotten basically nothing in terms of profit.

 

what's wrong with having a bunch of nice englehard bars or whatever? not a damn thing.

 

Howdy,

I guess I qualify as and old timer because I've been collecting since 3rd grade and I'm 68. Some would say that I'm a 'stacker' because I stashed all the 90% I could in the early 70's. However, I later sold it into the Hunt Bros. bull market in the late 70's to augment my GI Bill in order to finish my BA in Econ. During and after I used the expression that 'when silver was under $5 you should buy all you could.' [yeah, I guess this makes my an old timer]. I bought my first AGEs a POG of $335.

As for the 'stacker' thing on youtube - feh. I don't see anything different today from years ago. Most of the stackers you are talking about are more in the survivalist camp than that of coin collectoring. You can normally tell by their rhetoric.

And the bottom line is still from Tristram Shandy, " So long as a man rides his hobbyhorse peaceably and quietly along the King's highway, and neither compels you or me to get up behind him — pray, Sir, what have either you or I to do with it?"

and so it goes,

peace,

rono

 

Go for it as long as you are invested in the market too...

 

yep don't ever put all yer eggs in one basket. most people say 5-15 percent of your wealth in metals, max.

 

Well, it depends on whom you listen to. I have heard as high as 80%, but that does seem excessive. There again, there are those who say don't put any money in metals as they don't earn interest.

Bottom line is to put in as much or as little as you are comfortable with.

 

Those are people that should never be listened too.

 

I agree. Buy what you like or want. It's a free world, mostly. I buy bullion more as a collector than as an investor. Not buying in case the world ends tomorrow lol. If people want to buy it for whatever reason more power to them!!!

 

Unlike you, I am not ok with other people doing stupid things.

 

Isn't "stupid" rather subjective?

 

How long have you had the "Great Corrector" fantasy?

 

True enough. But electronic notices that my X shares of ABC company are worth Y dollars more than I paid for them are nowhere near as viscerally satisfying as rummaging and rummaging again through the bag of silver half dollars I bought at seven to one, until the time came to sell it at twenty-six to one.

 

I feel that most ( not all ) but most are very unrealistic, and refuse to look at facts. They seem to want to believe that they are going to buy silver at $17 an ounce and get rich selling it for its true value of somewhere between $500- $3000 an ounce, depending on their level of delusion.

They refuse to accept facts. Over the long term the GSR has gone in one direction ( UP ) but silver is the buy in their deluded heads because the GSR will soon return to single digits.

Every time silver goes up, that's proof they are geniuses. When it goes down, its manipulation.

The COMEX will soon default on all its paper contracts, then the "true" price of physical will be seen as silver explodes in value. This nonsense argument has been out there for ions and has been nothing but wrong.

Silver is nearly all gone. HMM interesting how its almost all gone when they don't even mine primary mines really at all. For years we were guaranteed that silver would be extinct by 2020. Don't hear that nonsense much any more.

They always buy on the dips but none of them bought the last 10 dips where it has collapsed from $50 to $17.

The fact is, they have been nothing but wrong but instead of accepting this and adjusting their beliefs they refuse to admit it. They just changed the dates and spew the same nonsense garbage much like religions fanatics always promising the end of the world. When it doesn't happen - don't admit you were wrong, just change some dates.

 

I don't expect that the GSR ratio will return to single digits. In fact, I am not sure it ever has been that low. Traditionally it was around 15-16. The lowest I think I have ever hear of was 12.

I don't expect that it will drop below 30 anytime in the near future but it did drop almost that low when silver approached $50 recently so it is very possible that it will do that again at some point in the next 10 years. If you are patient you can take advantage of that. Last time it was that low I sold about 120 ounces and bought almost 4 ounces of gold. That gold is now worth 280 ounces of silver. If it goes up above 75 again I will probably sell that gold and buy 300 ounces of silver. (All figures approximate.)