Just on twelve months ago I started a silver buying club at my office by accident. I decided to take a look at the numbers today to see how we've gone and to say I was amazed would be an understatement.
It all started after a conversation I had with a young, almost thirty-year-old lad from my office about investment. I enjoy conversations on this topic which is relevant to our industry and job-function and interesting in general. During the conversation I mentioned silver, that I stack it, and his ears pricked up. We discussed it a little and off he went back to work. Over the course of that day each member of my team came over, knocked on my door and wanted to find out a little more. That was day one...Day two involved taking orders. It happened that quickly. Of course, I made it very clear I am not there to advise them and they purchase based on their own research, deliberations and needs.
There are seven of us in the club. Hmm, it's not a club per se of course, just a group of like-minded people buying silver, in varying amounts when finances permit.
Just a little background on what I told each one about my own method, the way I afford to invest in silver...You see, I go without something to get silver, or crypto for that matter. I also have a savings plan that accommodates for it. What I mean by go without is that I sacrifice something else, a purchase, to add those funds to my silver-savings-plan allowing me to get more silver. It hurts less that way, and helps curb unnecessary or wasteful spending.
The team thought that was achievable, and set about working out what they could each go without every week to be in a position to buy silver monthly. They came up with things like foregoing their second purchased coffee each day, not buying that chocolate bar, bringing lunch from home, dropping coin-change into a jar at their desk, strategising appointments to save fuel purchases and loads more inventive ideas. It was cool to watch them, most of whom haven't got loads of money to spare, seeking ways to save and actually saving! It started off small and grew each month from there.
Looking at the figures today, tallying up all the silver we have purchased collectively, makes me feel really proud of the team. The silver they have bought represents genuine savings that they have all told me they would not have had if we did not start this little initiative. So, are you curious how much we collectively bought?
Keep in mind some have bought more than others over the twelve month period so the figures cannot be divided neatly between the seven of us however each has gained a significant amount and the sum and total of all our silver combined is...367 ounces! That's right, about 10 kilograms of silver. Cool huh?
I got the guys and girls together and told them the figure today and they were really happy, slightly amazed and really proud of themselves; As they should be!
A year ago if I had told one of them they'd save enough money to buy 52 ounces of silver, one a week, they would have laughed in my face and told me they had no money to spare and yet here they are with a pile of silver each. The lowest amount purchased is 26 ounces, one each fortnight, and that young girl of twenty-one is probably the happiest as to that point she had never saved - Yeah, never. They're all pretty pleased with themselves though and are looking to push on.
Pictured is one of the 10oz coins I purchased this year. I know you can't get a gauge on the true size but take it from me, it's big, and feels oh so lovely in the hand. It makes me smile. Having said that what makes me really smile is the way the team have taken it upon themselves to work out how they can save a little better, amend their spending habits and work towards something that could appreciate in value and help make their future a little brighter. I'm pretty proud of them.
We're continuing the process into next year so it will be interesting to see the numbers in another twelve months. I'll report in along the way and again at the end of year two if I remember.
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