How do you decide when to buy precious metals? Changes in traditional investments: Do you notice the stock market takes a dip, so you decide to buy more PMs? Changes in bullion prices: Do you make a purchase of PMs when you see them drop (or increase) in price? When you have spare money: Do you make purchases not because of changes markets, but based on your spare cash? World events: When a politician or country does something that concerns you or others, do you make a purchase? What drives your purchasing? For me, I recently bought silver because I had 1) already reached my regular investment goals for March and April and already had extra money left over and 2) I noticed silver has declined 50 cents an ounce in the last week so the timing sounded right, especially with Provident's 70% off sale. How about you?
Traditional Investments-Not so much, I don't believe that Traditional vs PM commit to polar movement as much as most consider. Change in Bullion Price-I'm at my LCS almost every day so I always know whats up with the prices. Spare Money- I always buy something silver when I have an influx of capital. World Events- Not really either.
For me it is quite simple, really. I pay all my business related bills on the 20th. If the checking account still appears healthy on the 21st, I make a visit to my dealer.
I seem to be like Randy! When I got extra cash I find something to purchase and add to my collection or PM stash. My collecting habits have changed through the years but I have never lost the desire to add something now and then. If it catches my eye and its a grade I can live with and the cash is there it will probably go home with me. I don't work sets much any longer due to my age but adding a nice specimen from any series can happen at any time! And quite honestly it is NOT about making money any longer it is just having one more! lol
I make bullion purchases only when I can get it under melt. I am willing to buy US silver and gold coins at melt. Those are the only two times I buy bullion-type stuff.
My app tells me what to do and when to do it. You see I want to be a brilliant and sophisticated investor too. So of course I use the Sigmund Freud "All men are great in a dreams" comparative investment scoring and bull puck artist matrix app.
I have one of those too! Oh sorry. I misread app for wife joking aside, mine is pretty awesome. And joking aside, do you actually use an app for that?
There's an app for everything, including to help you track your dumps. https://www.livescience.com/45150-apps-for-tracking-your-poop.html
What's been working well for me is, every week I put $20 in a safe in an envelope. Once I see there is a great bullion deal or numismatic deal, I'll use that money to buy something. If I sell something, the cash goes right into that pot. If I don't see any deals, the money keep accumulating. For example, since the new year until about last week, I haven't seen that many good deals, so I've accumulated a couple hundred bucks. I just found a really good deal on ASEs, so I stepped in and made the purchase. This way, I know that $20/week is my splurge amount that I can afford to spend on this hobby, so this keeps me in line.
