Good Time to Buy PM's?

[fistfulladirt]

What is it about gold that makes me want to buy?

 

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[kingskid1611]

What is it about gold that makes me want to buy?

shiny!!!!!

 

[Johnnybravo300]

That's a nice set there.
I picked up 5 one oz silvertowne bars today for 1 dollar over spot but he wanted too much for his other stuff and 28 each for his peace and Morgan dollars. I mentioned that he sold them for 15 each last time and he said not anymore! Im not sure what that means? Last time he was asking 18 or 20 for them but came down to 15 if I bought 20 of them.
He isn't my regular dealer but a place I stop in at from time to time. I'd rather spend my bucks with a guy that wants to move inventory and not mess around....but it's hard not to stop in because you just never know.

I'm also usually more focused on ounces rather than numismatics at this point until I get to a comfortable level or find a coin I can't pass up which I haven't yet.
I've seen plenty of 15 dollar walking liberty half dollars and even a $1950 half penny yet somehow I walked away haha. That collector stuff is all speculative to me and I'm not a seller like some, it's only a safe haven for my family or my future. I can see that for the big time coin guys or the eBay dudes but not for me.. of course that can change over time i hear.
When I get a chance at a libertad or an engelhard prospector round or silver dollar for close to spot you can be sure I jump on that stuff no doubt because I know it may demand a better premium later on too as they tend to.
Old junk silver gets me giggling like a kid on Christmas morning but I can pass up on silver eagles for 2 bucks over spot, I don't really understand it at all.
I don't consider an extra 20 bucks for a gold coin much premium since the price can change that much in a day or so and I'm in it for the long haul.

 

[Johnnybravo300]

A pawn shop in Salida has had 10 engelhard prospectors rounds for two years now and wants 25 each for them because of eBay. I offered him 20 each for all of them an he just won't sell them to me and they just collect dust there. He's also had the same little vials of gold for sale for 80 bucks an ounce for a few years so I shouldn't be surprised haha. He won't come down on any of that either and I offered him 50 an oz for one of them. Now I don't even ask anymore.

 

[Johnnybravo300]

I always hear everyone talk about diversity and only 10-25 percent in metals for a "healthy" (whatever that means?) portfolio.
Considering everything BESIDES physical metals is fiat dollar based, can anyone explain this?...and even then they have a manipulated spot price based on the dollar. Any dollar based investment is still tied to the dollar so how is that diversifying?
I can only come to terms with 10 maybe 20 percent OUT of physical metals and gambling with it in mining shares or any other stocks and even that is scary.
How is gambling with 90 percent of your savings in a dollar based market a safe thing?
If the dollar does collapse all that would be gone along with it. Every IRA, share, stock, mutual fund and all the deriviates from that.
If you only kept 10 percent in metals it sure seems like a fat kick in the sack to me! People have killed themselves losing alot less than 90 percent of everything!

 

[fistfulladirt]

I always hear everyone talk about diversity and only 10-25 percent in metals for a "healthy" (whatever that means?) portfolio.
Considering everything BESIDES physical metals is fiat dollar based, can anyone explain this?...and even then they have a manipulated spot price based on the dollar. Any dollar based investment is still tied to the dollar so how is that diversifying?
I can only come to terms with 10 maybe 20 percent OUT of physical metals and gambling with it in mining shares or any other stocks and even that is scary.
How is gambling with 90 percent of your savings in a dollar based market a safe thing?
If the dollar does collapse all that would be gone along with it. Every IRA, share, stock, mutual fund and all the deriviates from that.
If you only kept 10 percent in metals it sure seems like a fat kick in the sack to me! People have killed themselves losing alot less than 90 percent of everything!

Is it because metals are not an investment? They’re insurance, to cover at least a partial crash in paper investments. The markets have always recovered, and we’ve never experienced a full-out collapse of the dollar.

 

[Johnnybravo300]

Exactly, but gold was $70 in 1972 so have the markets ever really recovered or just on paper? And the circle goes round.....

 

[jim4silver]

Over the past few years I switched from "stacking", that is buying silver just for silver value, to buying under priced semi-numismatic stuff for near bullion prices. Even as silver has fallen in price I have been able to buy stuff with built-in "equity" so to speak. I only have sold at the coin shows where I get table and did well each time (once or twice a year).

The key is to find big buyers of silver (like coin stores, pawn shops, we buy gold shops, etc) and have them consider you a wholesale buyer to them. For example, I know some dealers/buyers that buy a lot of stuff, and cheap. If you walk in their place with cool silver coins, like say a fancy Nuie coin or a silver lunar from Australia, they will offer you spot or slightly above. They don't care what it is, silver is silver to them. These buyers like to flip stuff and when certain items come in that they know I collect, I get the first offer to buy. I can usually get such things for $2-$5 over spot. Since these guys don't mess with ebay and such, I have been able to buy even below wholesale on this type of stuff. Best to find places that don't retail that much stuff other than common ASEs, junk silver, etc. They don't like to waste space in their shop with fancy coins in pretty boxes, etc.

I have been cultivating these relationships for over 10 years and there really is a way to make $$$ off this if a person did it right. I only do this as a "hobby" and to satisfy my silver addiction without losing money due to falling silver prices. This way, if I get desperate and need to sell to raise cash I will at least get my money back plus a few bucks and that is if I sell the stuff cheap (under ebay completed sale prices).

There will be a time if/when silver starts rising again where the premiums on my semi numis stuff will start to vanish. Probably when silver is at $30 or so. I need to sell before that time to capture the extra equity and possibly then put it into "bullion" since a rising price will even make that stuff go up again.

Believe it or not, some of the semi numis stuff seems to go up in price as silver drops which is illogical but it is what it is.

Jim

 

[DeepseekerADS]

I was in the days the Hunt brothers and the market pushed silver to $50 an ounce. Actually got into a scam margin account where when I tried to sell, the group stopped answering calls. So, I called the FBI on them and they cashed me out with no loss, but no gain. I was lucky that time. After that, my quest was purely physical "in hand" bullion.

When I decided to retire I bulked up on silver, bought a lot through Craigslist and was never scammed. One guy I purchased from multiple times - when he had something he'd call me, we'd meet, he'd walk away with cash. I had a goal, and reached that, and then stopped buying. Silver was trading at the time at just below $20 per ounce.

Yes, on my silver, I'm underwater. But my goal was geared towards "protection" and at this point I don't care a bit. I should have waited considering the market price today, but I'm not regretful at all, period.

I even bought some from our friend jim4silver

 

[Mackaydon]

Silver at $15-ish.
Willl we see $12 before $18 or the other way around.
Your thoughts?
Don,..

 

[releventchair]

Silver at $15-ish.
Willl we see $12 before $18 or the other way around.
Your thoughts?
Don,..

Depends on how much you buy at 15! l.o.l..

 

[Mackaydon]

Personally, I"ll buy nothing between $12 and $18.
Don.....

 

[fistfulladirt]

Silver at $15-ish.
Willl we see $12 before $18 or the other way around.
Your thoughts?
Don,..

We won’t see $12, ‘cause the premiums ALWAYS rise.

 

[DeepseekerADS]

Personally, I"ll buy nothing between $12 and $18.
Don.....

I won't buy any silver now, but if I do I'll let ya'll know. Some of my South Asian friends told me one time, "Waja, we like you, we watch you and do the opposite"

 

[fistfulladirt]

I won't buy any silver now, but if I do I'll let ya'll know. Some of my South Asian friends told me one time, "Waja, we like you, we watch you and do the opposite"

So, in other words, THEY’RE BUYING!

 

[Mackaydon]

Silver now teasing going into the 14s; will it make it this week?
Don...

 

[Mackaydon]

Oppps,no longer 'teasing' the 14s; we're in it.
Stackers may find the current price attractive; to 'average down' their current loss position.
I'll stay in equities 'till the cows come home' if necessary; waiting for the '12s'.
Don...

 

[fistfulladirt]

Expect premiums to rise, as usual.

 

[The Aluminum Monster]

Expect premiums to rise, as usual.

I sort of agree, but some of the major dealers are just giving away 90% right now. I've been finding attractive prices on kilo bars and gold Sovereigns right now too. Fantastic time to beef up stock.

 

[fistfulladirt]

I sort of agree, but some of the major dealers are just giving away 90% right now. I've been finding attractive prices on kilo bars and gold Sovereigns right now too. Fantastic time to beef up stock.

Agreed!