Tuesday, January 7, 2014

What Is Your Silver Endgame?

The start of a new year usually brings with it the desire to either change mistakes or unsuccessful strategies made in the past, or to revisit reasons and goals that have been made to provoke original motivations. The new year has made my brother and I engage in many of these actions. We set out our coin roll hunting goals and silver stacking goals for 2014, given the success that goal-setting has provided in the past. However, we have also been reviewing the reasons for why we began to embark on going through coins, looking for ones that are worth more than their face value die to their metal composition, as well as purchase silver. During this review we have discussed what our silver endgame is; more specifically, to what ends are we working towards and when will we ever part with what we have been collecting?

The fact that we have been coin roll hunting and silver stacking in order to protect our wealth from the inflationary monetary and fiscal policies being followed today plays a very important role in answering this question for myself. Due to this ultimate goal and strategy, we are not focusing on a time specific endgame in regards to our silver and copper pennies. By time specific, I mean that I do not have a specific time frame, ounce accumulation over a specific time period or price target that would cause me to sell. For example, I am not firmly committed to holding my silver until retirement, which is likely to be 30 years down the road. It may be the case that this occurs, and it will made sense to hold throughout my entire life, but I am not entrenched on this position.

Rather, my endgame is focused more on the events that are occurring, namely, any events that show a move away from an inflationary driven-policy or where silver keeps its value in relation to the dollar to the point where it becomes an overvalued asset. Of course, there is no way for me to predict when any of this will happen. Also, there is no one specific event that would trigger me to sell. For example, a full reduction in quantitative easing by the Federal Reserve, while a move towards a tighter monetary policy, would not be a sufficient condition for me to get out of precious metals, copper pennies or 99.9% nickel nickels, particularly when interest rates are still artificially suppressed near zero. But I am prepared for the possibility that when events dictate that precious metals are overvalued, or where I can move into a wealth generating asset from the purely wealth protecting asset of precious metals.

This being said, I do not think that these events are imminent and I am currently focused on accumulation at this point. This is more of a discussion point for my brother and I am this point and we are very flexible going forward. I posted this question on my YouTube channel and received some amazing answers from those who viewed the video. Throwing out these questions and discussing them is always a fun, thought provoking exercise for us, so we would love to hear your thoughts in the comment section below. What is your silver endgame?


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