Just a thought guys/gals. What would your spouses, children, etc. do with your PM’s if something happened to you (God forbid)? Do you have a plan? What if they needed to sell a little. When would be a good time to get rid of a little (never all) to help ends meet or see a better opportunity? I haven’t thought much about it but I will now devise a plan. Comments please, please! I have, according to all I’ve been exposed to here, come to welcome your comments and weigh the advice of the SD readers.
2OZ My wife knows exactly what I am doing since she has a goodly stack she inherited from her dad, an early adopted in the phyzz biz, 1972 or so when gold was cheap. We discuss each purchase, stack it away and make sure whether it is funds from my account, like an IRA or sale of my commercial property. In her case, the phyzz is set aside as her’s from her IRA, her capital or dad’s stack. We keep meticulous records of each purchase, price, amount, type–rounds, AE, bars etc. She knows where everything is and ditto for my knowledge. We we both assume room temp it all goes to charity. Our legal counsels, each two degrees of separation from the other, will know what to do. Neither of us will sell any part of the stack. The IRA is set aside for at least 8-10 years. The rest is set aside as conditions dictate and that is regarding sales, purchases, trades and using silver rounds for payment of goods and services. We have 5 service providers who accept silver. We bought a monster box for that purpose. These are personal decisions that work for us in our position but not for everyone. DYOD.
This is what I’m looking for. As you know, I only starting stacking a couple of years ago. While all is in my will, there are other things that could and should happen if I were no longer around. I’ll take all the advice I can get and weigh each bit. Thank you so much for your post. I look forward to more from all the SD readers. Sounds like you have a plan that will be well executed.
Another thought. I don’t want my loved ones to be ripped off by those seeking to make a tremendous profit. It may come to that but I’d like to think they could go to a place that would give the a fair value for the PM’s. I’ll take your words AGX and weigh them according to my position. Thanks again.
I have 3-4 places to sell silver and each is credible, reliable and pays immediately if needed When i bought some bars from Doc I checked with my preferred LCS, a 25 mile drive to Carson City NV. Even though the 100 oz bars are not the preferred items the store would by them for $1 under spot. I got them from Doc for about 49 cents over. That is a reasonable spread so if prices go up substantially I will sell those first, take my gains and see what the market bears in the future. My buy price was about $33 an ounce so these are tradeable and stocked for profit if the price takes a spike in the next few years. My time horizon for those is 3 years at most.
The rest of the stack is LT hold as an asset protection against external forces that we all see developing today. If silver goes up by 400-600%, to $150 an ounce or more and we are not in an incipient bout of hyper inflation, reflected in price increases of 25% a year (or month) then all best are off. My plan then is to shift bullion on a short term basis, selling within my 5 mile radius local area to save on gas while bringing in quick cash for purchases. This preserves the value of the primary stack while nibbling around the edges of the stack to pay for normal expenses.
" I have thought about this. If it is not in the US, it is a risk IMO.
Even in the US, it could still be seized in a bank holiday. hard to say
Thanks for perspective, Mammoth "Reply To: Chinese yuan bank account
" Silver Dollar - if I cash out now I cannot buy silver in Ecuador for anywhere near this ridiculously low price. Its just that I have been concerned that when things collapse all I will be able to get over here is the cash. And I have to worry if some government will steal all funds in goldmoney.
... "Reply To: What will happen?
" Store a radio in a steel container, make sure to bubble wrap it for insulation. Stick it in the attic, garage, wherever as a spare in case of confiscation. I have an old Drake tube rig I am restoring that will be mostly EMP proof "Reply To: Ham radio
" Nice Shootin' TEX!
I am thinking avoid the ASE's (I have some) as they are prolly tracked by Big Bro... at least the bulk purchases, as I started out with. But that went down in Lake Monroe, stupid of me to take the stack with me on vacation! You are best off buying with cash, and junk is usua... "Reply To: EBAY: ASE's at 40% PREMIUM
Call it a Petit Mal, mild stroke, or just a temporary lapse of sanity, but I went against my junk coin roots last night. Earlier, I had stated my preference for junk. This remains true to this day, but last night I purchase some silver from Apmex that in no way can be considered junk:
... "Reply To: EBAY: ASE's at 40% PREMIUM
" I feel ya Mary. My average buying cost is around $30....Although as you said, I still believe in all the fundamentals, and where silver SHOULD be, its hard not to get discouraged at WHERE IT ACTUALLY IS!
"200 years from now your silver will still be valuable."
Statements like this absolutel... "Reply To: My Faith in Silver is Just About Broken
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