Apush: Hold on a while or buy?

[apush]

Hi All,
Westminster Mint has Silver American Eagles listed at $30.87 ea plus shipping. I am almost at the point of buying 20 AES and putting them aside. With postage it would be about $31.00 ea. Good deal or wait? Silver under $27.00 oz.

Thanks for any advice.
apush

 

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[FreedomUIC]

Apush,
ASE's will hardley ever drop below the $30.00 dollar mark. Pretty much every online dealer has them at that price. The generic rounds are following the
ebb and flow of spot. That is what I would be looking at right now, but it is just my opinion and everybody knows what that means. LOL

 

[TreasurePirate69]

I personally feel that the price of silver will continue to drop over the next several years to less than $20 an ounce. However, that doesn't mean that silver couldn't go right back up to $40 next week or even tomorrow. There really is no way to know. With that said I've been buying much smaller amounts all the way down. I'm using the dollar cost averaging technique. If I'm wrong and silver goes to $100 then I got a little silver at $30. If I'm right and silver goes to $20 then I didn't spend too much money on the way down. 20 silver eagles is a nice chunk of silver but probably won't make or break you either way. If silver goes down to $20 then you will have likely lost around $200 which is not worth losing sleep over. And you have the same potential for reward on the upside.

So I'd say to buy them if you want to. Now is probably as good a time as any. I will say that the pattern has been lower highs and lower lows now for quite some time which means that overall, silver prices are on a downward trend. You usually want to let the current trend start to turn before making a really big purchase. As long as the price keeps falling I'm going to keep my purchases at a minimum.

That's my two cents and it is worth exactly what you paid for it. I will be the first person to admit that I have no idea which way silver prices are going to go over the next few years. All I have is a hunch for whatever that is worth.

 

[Marchas45]

Apush I buy AE's and 90% all the time, I've bought at $18 and $41 and I still buy today if I can get it at spot and have the Fiat. The dealers are marking up the spot on the Eagles by an average of $5 so that mark up will always be there, up or down. If I was in the market for AE's I would be buying now and that being said I'm buying a bunch of 90% tomorrow evening.
Treasure Pirate69 said it. "Nobody Knows Where The Spot Is Heading", me included but MY gut say's it will bottom at $26 then head back up. If not, I'll just buy more at the lower level. Lol Good Luck on your Quest and I would say go for it.

P.S. Provident Metals are at $31.80 for AE's so Westminster is a good deal.

 

[TreasurePirate69]

Apush I buy AE's and 90% all the time, I've bought at $18 and $41 and I still buy today if I can get it at spot and have the Fiat. The dealers are marking up the spot on the Eagles by an average of $5 so that mark up will always be there, up or down. If I was in the market for AE's I would be buying now and that being said I'm buying a bunch of 90% tomorrow evening.
Treasure Pirate69 said it. "Nobody Knows Where The Spot Is Heading", me included but MY gut say's it will bottom at $26 then head back up. If not, I'll just buy more at the lower level. Lol Good Luck on your Quest and I would say go for it.

P.S. Provident Metals are at $31.80 for AE's so Westminster is a good deal.

There has been VERY strong resistance at $26 for the last several years. We have tested that price multiple times and it has always held up. So you may be right that $26 could truly be the bottom this time. Only time will tell.

 

[jim4silver]

I would say get them. Anyone who thinks silver is a good bet long term would do well getting in at today's prices. I got some tubes of 2013 Eagles earlier in the week and they are really great looking coins.

Jim

 

[Argentium]

Well Apush , as you can see some time has passed since you began this thread (10 days or so ) It will be very interesting to see
which precious metal formats (ASE's , Maples, generics etc.) the dealers will have any availability of during the current freefall,
I'm going to call around a bit (checking on 90% too ) (9:00 am /15 april)