Good Time to Buy PM's?

[Mackaydon]

Would you buy gold at $995 or silver at $13; or both?
You may soon be faced with that situation.
Don......

 

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[Diver_Down]

Would you buy gold at $995 or silver at $13; or both?
You may soon be faced with that situation.
Don......

Easy decision for me would be to buy gold. I'm sitting on a mountain of silver now. Most was bought below $12 and a considerable amount at face value. My problem is that I actually believed the pundits when the last run-up in silver, they kept saying that it would go higher. $37/ounce - no way, I'm holding for $50/ounce. And then the slide...

 

[fistfulladirt]

Buy now while the premiums are low.

 

[Johnnybravo300]

I've been adding a few ounces for sure.

 

[The Aluminum Monster]

Would you buy gold at $995 or silver at $13; or both?
You may soon be faced with that situation.
Don......

Over the last 2 years, I've been doing an every 100 ounces of silver I acquire, I aslo get two ounce of gold. I see no reason to change that no matter what the prices are. Under 1000 dollars an ounce though, I might do a 100-3.

 

[Johnnybravo300]

I'm having a hard time keeping cash around at these prices hehe.

 

[jim4silver]

I picked up some BU rolls of Roosevelt dimes from 1961 - 1963. They are in original Federal Reserve paper rolls. All end coins show differing shades of toning on coin side showing. Some ugly, some really cool.

I tore open a roll just to look at all the coins inside and none of the other coins show a speck of toning. They look brand new. I got them for 10.5 X face or $52.50 per roll. I normally don't buy "junk silver" but BU rolls have some extra semi numismatic value so for that premium I am happy with them.

I am debating keeping them in the paper rolls or putting them into plastic tubes?

 

[Johnnybravo300]

Sounds like a good price on that. Not sure on paper vs plastic but most of mine is in ziploc baggies if that helps hehe. I picked up $50 in merc dimes last month in paper rolls and I was just storing them that way, figured it was ok.
The plastic tubes I've used dont seem to hold as tight as paper does and they can still rattle some.

 

[Diver_Down]

Jim - I would put them in plastic tub61-es. They can be had new for change or check with a dealer if they have any used extra. Often collections come in and the dealer doesn't need all the tubes. They don't sell them as it competes with their regular inventory. The 61-63 years are common as you know, but there are numerous die varieties that are getting more attention from collectors. To happen to have a BU specimen of these die varieties might yield a nice premium over their inherent silver value.

Side note: I also try and acquire used albums/folders especially if they are a bit worn/tattered. I can put a brand-new Whitman folder of circulated Franklins/Walkers and realize a closing bid of melt value. Put the same coins in an older worn folder, and suddenly buyers think that the folder was stashed away for decades and hadn't been searched through for varieties. The ugly folder will yield a higher return over melt value just on the assumption that the buyer is buying "grandpa's" collection.

 

[A2coins]

Great post very informative

 

[jim4silver]

Anyone else buy silver this week?

I picked up some silver this week. No cool foreign stuff being sold to my sources at these low prices I guess. I was "fiending" for some silver so I was able to locate some late 50's and early 60's BU quarter rolls and they look great, for 11.5X face. Not much more than the circ. junk silver for pristine looking coins. Most rolls have two coins toned on one side in each roll (like you find in many paper bank rolls of silver coins). Greysheet bid is $150-$160 for these rolls so I guess I did OK. Dealer claimed they were from orig bank rolls and I have no reason to doubt based on what they look like.

 

[Mackaydon]

Watching silver get as low as $13.99 today was no incentive for me to jump in--unless I was averaging down my holdings.
But not holding any silver (other than my coin collection) I'll choose to wait for the 12's or 13's before going 'all in' again.
Don......

 

[fistfulladirt]

Nice score Jim, I too would’ve jumped on that! In the mean time, waiting for lower lows.

 

[Johnnybravo300]

I hit my lcs the other day in Salida. Picked up 14 Morgans and Peace Dollars for $14 each, a 1 oz and 5 oz bar and 2 Libertads for $1 over per oz.
He had a bunch of junk silver, generic rounds, tubes of Eagles, a 100 oz bar, some poured silver and all kinds of good stuff. It's nice when there's all the options and eye candy to look at.

His junk price was 12x so a little cheaper online, although he let's ya go through it which is always nice.
The 100 oz bar was totally awesome but 10 oz or smaller is what I'd prefer. It was amazing to hold it and feel the weight in my hand and I might have drooled a little.
Eagles were $18 each so they were easy to pass up as always. They will still be there the next time I go and they will still make me yaaaawwwwn.

It was a great day buying for me and a little more put away for the golden years.
At this pace I will still need good work boots when I'm 70 so I'd better save now!

 

[Johnnybravo300]

After Greenspan said they can guarantee social security payments for any amount of time but they cant guarantee the purchasing power......
I figure by the time I qualify for it, after future inflation it might buy a cart of groceries if I'm lucky!

 

[jim4silver]

Nice score Jim, I too would’ve jumped on that! In the mean time, waiting for lower lows.

Thanks FFD. I've been getting BU dime rolls (mostly original rolls with the toned end coins) when I can cheap instead of buying regular bullion for the same price to stash. I don't mind putting this type of silver away no matter what the price of silver does. I would think there will always be collector demand for pretty BU dimes and quarters from the 50's and 60's and carry some premium over regular bullion.

PS Another dealer offered me some tubes of 1984 BU Libertads but wanted $4 over. I said no thanks. I couldn't sell those for $4 over at the last show.

Jim

 

[jim4silver]

I had some unexpected cash come in recently so I decided to buy, of course, some "wonderful" silver. My local dealers have lots of stuff with low premiums but nothing "cool" like the foreign pretty coins I like to get. I couldn't even get any BU dime or quarter rolls so I wound up with a few 10 oz JM bars, one Engelhard poured bar, and the rest was in the form of Silvertowne 5 oz bars in plastic. Paid $1 over melt except for the Engelhard, that was $2 over.

I hadn't bought any "bullion" in a while in decent amounts so I am having a bit of buyer's remorse. If silver drops more, this stuff will have to sit in the vault for a while.

PS One great thing about bullion bars is they don't take up much space, very compact! My GF thinks the 5 oz bars are "cute". I guess I agree with that. I got them cheaper than from Silvertowne's own site. Here is what they look like (photo from Silvertowne's site).

https://www.silvertowne.com/p-11651-silvertowne-trademark-5oz-999-silver-bar.aspx


Jim

 

[Johnnybravo300]

That's a good price if you ask me and I would have jumped on it. I've been getting more 5 and 10 ounce bars lately, nice size and small enough to stay liquid even during a potential big price jump.
A few cents or a few bucks either way doesn't affect my purchases. Every ounce Im stacking will still be in my safe in 20 years unless something crazy happens, or we turn out like Venezuela.
If I had more room I'd buy more guns but a 1 oz gold coin is much easier to stash haha.
Theres not alot of liquid assets that aren't in a bubble right now. Gold silver and guns are cheap!

 

[Johnnybravo300]

Another double post. My internet barely works enough for one post. Not sure how that always happens so much to me.

My lcs has a bunch of junk silver right now that I'd like to pick up. I think he has it marked at 12x but that's always negotiable with a wad of cash. I'm lucky to have him.

My son is 28 and also stacks. We use the same lcs and we have a good time with it. I sure wish I'd have had the head start that my son has with the PM's but I'm sure proud of him and it's something I didnt learn about till later. It's an important thing to understand money and they dont teach you about debt in school. Hes better off for it I think and it's something we can share together.

 

[AlabamaRelic]

That's a good price if you ask me and I would have jumped on it. I've been getting more 5 and 10 ounce bars lately, nice size and small enough to stay liquid even during a potential big price jump.
A few cents or a few bucks either way doesn't affect my purchases. Every ounce Im stacking will still be in my safe in 20 years unless something crazy happens, or we turn out like Venezuela.
If I had more room I'd buy more guns but a 1 oz gold coin is much easier to stash haha.
Theres not alot of liquid assets that aren't in a bubble right now. Gold silver and guns are cheap!

You can say that again.