Good Time to Buy PM's?

billjustbill

billjustbill

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Feb 23, 2008
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I think now is a good time to buy if a person is looking to diversify. The so-called experts (mainstream, not PM pumper sites) say a person should have 10% or so of their portfolio in gold (and silver). That is a conservative figure in my opinion. I am guessing most folks in the US don't have near that much in their portfolios.
 

Gold and silver are about all I have as a portfolio but I've read that mining stocks are really low right now so I may look into that. I was going to wait until the next crash to look into stocks but I didn't even think about the mining sector.
 

buy consistently high or low and have an average over time. I have bought gold at 275 and at 1500 all balanced out I am ahead of the game and growing in ozs which is the key
 

I stopped at a shop Friday evening to buy some junk silver from a guy and he said just after I had called him, another guy called and bought everything else in his cabinet.
Same thing on Saturday when I went to Salida. Some guy beat me in there a bought up all the junk hehe. I was still able to pick up a few nice things cheap but not as productive as usual.
I also stopped at a pawn shop on the way home and he had about 12 prospector rounds but he wouldn't come down from 21 bucks. I thought 4 dollars over spot was a little steep but I should have just bought them. I have a habit of just walking away when they don't want to barter at least some. Last week I paid 18 bucks for one of those and now he wants 21 and says they have numismatic value.
 

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Johnnybravo300 said:
I stopped at a shop Friday evening to buy some junk silver from a guy and he said just after I had called him, another guy called and bought everything else in his cabinet.
Same thing on Saturday when I went to Salida. Some guy beat me in there a bought up all the junk hehe. I was still able to pick up a few nice things cheap but not as productive as usual.
I also stopped at a pawn shop on the way home and he had about 12 prospector rounds but he wouldn't come down from 21 bucks. I thought 4 dollars over spot was a little steep but I should have just bought them. I have a habit of just walking away when they don't want to barter at least some. Last week I paid 18 bucks for one of those and now he wants 21 and says they have numismatic value.
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I think if the coins were in BU condition, 4 bucks would have been OK, especially if one of the more rare years like 1987. If the coins were less than BU I would have passed.
 

They weren't sealed or anything and had been handled. They were in a pile under the glass and nothing really special but I like slightly worn silver anyway. Even at 21 I should have still gotten them but I do that to myself sometimes haha. I'll pick them up Saturday if they are still there. Maybe he'd come down to 20 and I could feel a small victory but I only offered him .80 cents over spot...he just couldn't do that. I don't know what I proved by walking away but he can be all over on prices sometimes, even from week to week.
I wonder if this other mystery guy has been working him for silver too....and he's tightening up some. He had a way over priced kruggerand and a vial of raw gold from somewhere local for 100 or so too much. He's had that vial for over a year now.
It's local gold at 80 a gram but if you sell him your gold it's only 80 percent pure and maybe worth 80 of that haha. I guess those guys have to make money too.
 

jim4silver said:
I think now is a good time to buy if a person is looking to diversify. The so-called experts (mainstream, not PM pumper sites) say a person should have 10% or so of their portfolio in gold (and silver). That is a conservative figure in my opinion. I am guessing most folks in the US don't have near that much in their portfolios.
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Jim, from what I understand, most folks in the US don't even have $500 in savings, let alone a portfolio. Anyways, paper investments have always bothered me. But, why is the PM portfolio suggestion only 10%? If things come crashing down, does one just swallow a 90% loss?
 

fistfulladirt said:
Jim, from what I understand, most folks in the US don't even have $500 in savings, let alone a portfolio. Anyways, paper investments have always bothered me. But, why is the PM portfolio suggestion only 10%? If things come crashing down, does one just swallow a 90% loss?
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FFD,

I don't know where they come up with the 10% number for PMs? I've heard that over and over from mainstream pundits. I guess over the past 6 years you would have done better all in stocks, no PMs at all.

At this point it is hard for me to ever see PMs soaring in value. If stocks fall, Bitcoin will probably go up. Even though Bitcoin is a completely made up "asset" that has nothing backing it financially. I know the US dollar is a "made up" asset too, but still has the backing of the US gov, which is still more than Bitcoin. I can see some day where a big online "heist" occurs and the cryto folks get robbed. Who would make up what they lost if that happened?

Almost all my PMs are semi numismatic type coins so there is some built-in value besides the silver. I paid close to "bullion" premiums ($1 to $5 over melt- but coins retail at 1.5x-5x+ melt) for almost all of this stuff so it doesn't bother me to have it.

It takes time searching around for the deals but is worth it. After I quit CRH a few years ago I started searching for value in foreign bullion and coins. The cool thing is that most local dealers don't know crap about it, nor do they care to.

PS I have been building my own website for my business over the past month and surprised how nice it is (Wix). It has worked so well I am thinking of building a coin website to sell some of my stuff online and skip ebay. Thinking of marking it up to Apmex-like prices (what they charge for cool stuff) and leave it. If it doesn't sell I don't care, it is sitting in the vault anyway.
 

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Ten percent in silver coin as a contingency has been fostered for quite a while.
Just an insurance of sorts should the sky fall. Worst case if you could not get silver value ,you have cold hard cash.
At ten percent of a portfolio not earning interest ,and having to secure/ 8nsure it's well being ,that is about the tolerance level for some investors. It varies of course from none ,to more.
Besides,it's boring compared to gambling. You know, buy high ,sell low in panicked knee jerk reaction rather than long haul investing.
Or put so many hours into fast trading that sleep comes hard during a vacation...
 

Nationwide has 1/10 gold eagles for 115 each. I had read they had questionable follow up tactics but my son ordered some and they will arrive Monday.
If you don't mind someone calling you back to try to sell you something else it's a pretty good deal. We'll know Monday whether it's too good to be true but they've been running about $129 at my shop and the tracking says it's on the way.
 

Johnnybravo300 said:
Nationwide has 1/10 gold eagles for 115 each. I had read they had questionable follow up tactics but my son ordered some and they will arrive Monday.
If you don't mind someone calling you back to try to sell you something else it's a pretty good deal. We'll know Monday whether it's too good to be true but they've been running about $129 at my shop and the tracking says it's on the way.
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Yes, that is a good price on the 1/10 oz gold, considering the low price at comparegoldprices.com is $141+, and the online vendors usually beat all in price.
 

sell Sell Sell !

Buy in 4 to 8 years at the earliest depending on Elections.

If someone gets in who plans on destroying the economy
& chasing manufacturing out of the country prices will start rising.

as long as the U.s. is allowed to drill, mine, & Produce it's own energy.
and move it around through Pipelines, Gold & silver will stay the same or drop.

only exception would possibly be world War.
 

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I can usually get better prices with local shops than online but I shop around for sure. My local go-to shop wants to move inventory and he knows that's what I'm after so he rounds up everything that hasn't sold when I walk in and it's usually spot or close.
In my way of thinking, our government is already full of people that want to destroy our country and they've been doing a good job at it. I'm counting on more dollar devaluations with bubbles that will pop and the world considering dumping the dollar as reserve currency which some are talking about now.
They will replace one fiat for another which could go back and forth forever haha.
I think our economy is on borrowed time but it's always hard to tell these things, the feds skew so much and control so much now.
 

They don't know the price? Most places I've seen have a live feed on at all times.
Do they not seem interested in working out deals with you? I've had to walk away from a few deals but not very often.
 

Johnnybravo300 said:
They don't know the price? Most places I've seen have a live feed on at all times.
Do they not seem interested in working out deals with you? I've had to walk away from a few deals but not very often.
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I've gone to several local shows where these dealers have PM's marked WAY up. I know they have to make a buck, but they seem too curious when I mention the price of online merchants. They can't really be that oblivious, can they? Most of the LCS in my area deal bullion spot + their markup. Online merchants beat them almost every time. I try to support the locals with my business, but it's tough.
 

I ordered my ten 1/10th gold eagles last night for $1188 with shipping. They tried to upsell me a 2016 30th anniversary $10 st gaudens for $1250 but I didn't want it. It's an ms70 graded coin but I'm just not into that stuff right now.
 

Johnnybravo300 said:
I ordered my ten 1/10th gold eagles last night for $1188 with shipping. They tried to upsell me a 2016 30th anniversary $10 st gaudens for $1250 but I didn't want it. It's an ms70 graded coin but I'm just not into that stuff right now.
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Tenth oz gold eagles $100 below spot? Where do i sign up!
 

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