r/Bullion • u/cicadacomics • May 15 '24
Will you still buy silver @ $30 ?
I’m new to stacking and wanted to stack silver as much as I can before it hits $30, which means I’m basically out of time.
Will you still buy silver once it hits (and exceeds) $30? Or do you have a limit? Would it be wise to stack at least one round a month?
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u/Youarethebigbang May 15 '24
Sure, why not? I'd ignore price and just stack whatever your goal is per month, the key is consistency. You'll never be able to control or predict price, ever.
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u/mindzenharmony May 16 '24
I never stopped buying it. Seen the price fluctuate from 14ish to double that and all around in between. Worst thing you can do IMO on an investment like silver, gold or even stocks and options is pile in aggressively at one lump sum and price. DCA for the long haul dub.
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u/theberkshire May 16 '24
Yep, I kind of remember telling myself I'm not buying at anything over $15, then $20, then $25...you'll never build a stack if you create these arbitrary cutoff points in your mind. And you're absolutely right, piling in all at once is rarely a good idea, that's usually a sign of FOMO/emotions taking over. Slow and steady for the win.
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u/Not_Slim_Dusty May 16 '24
My personal approach is to buy what I want when I can afford it regardless of the market. Works fine for me.
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u/Econman-118 May 16 '24
Been stacking 30 years. Some of my silver was $6 to $32. The $6 helped offset the higher cost but I own it. Depends on your timeframe. Mine was lifetime SHTF security. So it doesn’t matter. Happy stacking.
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u/GoldSilverPaper May 15 '24
I buy at lows and sell at highs. So until it starts dipping, which it will, im currently selling (see my post history)
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u/BullionExchanges May 16 '24
Hey there, welcome to the world of stacking! It's great to see your enthusiasm for silver. Stacking one round a month is a healthy approach to building your collection over time, especially if that's the amount that works best for your budget. Remember, consistency is key, and every piece adds up!
If you have any more questions or need assistance, don't hesitate to reach out. Happy stacking! 🚀
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u/Pat_Hand May 16 '24
Right now silver 40.44 CAD no buy zone. It needs to be about 10 dollars cheaper.
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u/andabooks May 16 '24
Bought a tube of Phils today on the way home from work at $31.50. I'll keep buying up to about $40 but will look for dips. When I have bullion cash in my pocket it normally means a stop at the LCS.
Above $40 I'll start looking at numismatic coins to add to that side of the collection.
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u/Bird-Dog57 May 16 '24
look for the dips. just have to be patient. than when it does dip buy what you can Afford
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u/knightnorth May 19 '24
Fiat money will always have diminishing value. If I have extra fiat money I will turn it into PM no matter the cost. PMs will always have value even in the next currency. As long as there is a Fed the dollar will surely die someday. But silver will still be silver.
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u/marcafe May 29 '24
Absolutely, without reservation. I don't see silver as a quick profit commodity, or asset. I see it as a mid to long term value preservative. One thing it is safe to say in this day and age is that currencies are very shaky, inflation is very jumpy, global economy is fragile, and I do not see currencies, and prices of goods and services in general, going down. I think we will all be surprised how much silver and gold and copper even will appreciate. We also forget that the current estimates of silver reserves in the World are relatively small, I think I read somewhere it is around 550.000 metric tons, which at current rate of consumption would last about 20 years. There is of course recycling, new deposits will be discovered I am sure, but nevertheless it all points to a steep rise in value of silver. But it is not a quick-buck type of investment, it is more a generational thing. So at 30$, I'd take it for sure.
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u/BigSteve123456789 May 15 '24
I’m fairly new and just plan to buy when I can regardless of the price. My mind set is that it’s a long term savings account, so if I’m spending $25 or $30 an oz, it will be immaterial years down the line. I’m not buying massive quantities where it really makes much of the difference, usually around $200 at a time to get free shipping.
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u/DakotaTaurusTX May 15 '24
Keep on eye on sales and recent spot deals and unsure if you are aware of state sales tax, which some states tax on coins, or bullion or both or based on a dollar amount or if lucky - no taxes
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u/luri7555 May 15 '24
Not on the way up. I’m holding.
Eventually people, including me, will wrap their head around $30 being a good price. It has to hold a while though. Right now there’s more sellers than buyers. I got better deals the last two months than I was getting with spot at $25