What Would It Take For You To Sell Your Stack?
This question came up when I was talking to a fellow stacker earlier today. It got me thinking about my end game again.
We all stack for different reasons, some buy silver and gold as an investment, others to hedge against inflation. Some people like myself just stack because it's a fun hobby.
I always had to collect things growing up. I collected Micro Machine toys as a child, then Diecast model cars before I got into baseball and hockey cards in my early teens.
I switched to coin collecting later and that progressed to buying gold and silver items. It's a fun hobby and at the end of the day it adds up to real worth which is great.
Of all the hobbies collecting gold and silver is the best in my opinion. It's the king of hobbies and hobby of kings.
My friend asked me when I would sell, would gold and silver have to reach some all time high to motivate me to liquidate my collection?
That's a really tough question and I'm not entirely sure I have an answer right now?
I rarely buy the lowest cost bullion, if I were doing this merely as an investment than I'd be terrible at realising that goal. I've paid far over spot price for alot of the items I own. Alot of those items have appreciated well and I could expect to sell them for more than I paid, then some items I'm not sure I'd even be able to recoup my money?..
I don't really stack for investment purposes, I usually just buy what I like and most of it I wouldn't sell now at a profit because I'm having too much fun looking at it, collecting it and enjoying just owning it.
I have said before I'd stack until my retirement age and then sell off some here and there to supplement my old age years and enjoy a quality life. I don't have kids so passing it on isn't really in my plans..this is for me to enjoy so selling my stack will eventually have to take place, it's just I don't really think about it that much..
I keep my gold and silver in multiple locations and the last time I took inventory of it I was surprised at how much dollar value I now have. Like any savings if you're consistent it adds up over time. It's fun to watch it grow and it's addictive. When I added it up I calculated it just at spot price too and like I said, alot of my gold and silver is high premium so it's actually worth more than base spot.
I have other savings and investments, although I believe in gold and silver, I'm not relying on precious metals to achieve a certain appreciation over a set period of time to convince me to sell. I have items right now I wouldn't let go but then I have some I could part with and not get sellers remorse.
I guess the point of this post is.. I was wondering what your end game was? What motivates you to stack and and have you thought about what it would take for you to sell your stack?
The picture I used at the top of the post is of a 1969 Corvette Stingray. It's my dream car and I've wanted one ever since I was a kid.
Although that car is far older than I am I've always been captivated by it for some reason?
There's cars that are far faster, better on gas and ofcourse newer cars have driver assists and handle better but I've always just wanted a '69 Vette. I just love the body styling of them!
The conversation I had today got me thinking if I should sell some of my stack and realize a childhood dream one day?
Although some may say it would be a waste of money, classic muscle cars can also be seen as an investment. I believe there will always be a market for American muscle so perhaps it could be viewed as a different type of investment just like buying gold and silver.
They go from 15 grand up to 55k and even over that depending on the model and condition. Although my wife would probably be upset, my stack is mine and I wouldn't have to touch our combined savings to make that purchase if I were to one day buy one.
I think today I have a new goal. I'm going to buy lower cost bullion and one day when the price and timing is right I'm going to sell the majority of my stack and buy a 1969 Corvette Stingray and realise a childhood dream. You only live once right?
Let me know in the comments if you think I'm crazy? Have a great night!
Banner by @bearone
I may never sell. This is probably a question best left to my kids.
Maybe if PM's hit Bitcoin-style prices, I may sell a small percentage, but that would be more for a retirement style plan.
At this point, I just want to make sure my children are covered.
I don't have that much of a stack but I think if we're talking about silver hitting ridiculous numbers like $120+ you might see me actually selling to the we buy gold people instead of trying to buy from them for cheap :) I can appreciate those doing it .ore as a hobby but at some prices I think some people would at least lighten their load.
I'm not sure i'll ever end up selling, at lease it's not my plan right now, that's for sure. I think it's great to have if anything bad ever happens. and IF you are really going to sell to get that car, let me know. You have a lot of things that I want to have!!!
Yeah well you have little ones you can leave your stack too. I'd definitely consider that if I did, I have a niece I'll gift some items too one day. I wouldn't totally liquidate and I'd keep buying even after I sold because I'm hooked in shiny objects lol Also you'll be the first person I contact when I goto sell bud
Mania in the gold/silver pricing. Hyperinflation. Financial market and/or property market crash.
Probably all of the above happening at once would be required for me to clear my stack. I would then convert to other hard assets which are having a fire sale (like real estate)
I do love my PMs but they are a means to an end. I originally started buying because of lack of alternatives. Most other assets and investments are horribly overpriced.
Yeah I can relate to alot of what you just said. I believe in au and ag long-term and even if I were to sell off alot of them I'd start buying again just because I'm addicted to shiny things. I've always wanted a 69 Vette so if I could make a decent profit selling alot of my metal I think I would. The car could also be seen as an investment as they command a premium over time and get rarer as time passes. Thx for giving me your 2 cents @buggedout
Well I don't stack so I can't say much as we did liquidate our gold at one point. I think the pieces you have are pretty so I can see why you love looking at them. Since this just happens to be a hobby with the added benefit of it storing and accumulating value in some ways, then I would say whatever excites you more at the time to do. If you are getting tired of some pieces or you get out of stacking then sell some or however much and get the car you have dreamed about. If that day never comes where you just don't want that car enough then it's possible your dreams may have changed. Either way have fun. Great choice with a hobby/collection though 😉
I always enjoy getting women's opinions on things because I find they're usually rational :) Thx for being awesome topk, I respect you immensely!
Well thank you haha. Rational and level head I can be. Sometimes that can lead to boring but meh, what can u do haha
NOM NOM NOM
I have no exit plan!!😯
I love to collect the shiny stuff, I buy what I like but I never sell. I see my 'stacking' as a hobby which will eventually benefit my kids. I don't sweat spot prices if it falls great I can buy more! If it rises great my collection is worth more! I'm enjoying the process of collecting and there's nothing better than a playing with a handful of poured pieces, per diems are my favourite! Can't wait for my steemit round to arrive!! 😆👍
You could try having the best of both worlds as i plan to do, buy multiples of the coins you like ,keep one or two for yourself and flog the rest as required.
In order for me to sell my entire stack. . . I would have to get 10 Prime Property Locations (at least 1 acre each) in a major city in USA.... Basically, I would not sell unless I could OWN several homes/properties.
It is NOT that I have a Huge stack. .. . It IS that I expect the value to INCREASE to the point that I could OWN several properties.
I used to collect quite a few things over the years but lost a few collections on y various moves, now that Ionly envisage one more move and a fairly close one maybe its time to start again
Should get my first two coins tomorrow so thats a start :)