Is anyone here still buying silver?

[MauserMan]

Silver was priced as high as $31.10 a little over a week ago, but has pulled back to $28.43 as of right now. I've been doing more research on metals on the web and I just feel like they are going to keep gaining on fiat currencies -at least in the long haul. I just don't see silver going back down to $25 for very long, much less $20.

I went to the coin shop today, and to my chagrin, was told that some guy had just come in and bought all the silver bullion coins the dealer had in stock (about 35.) Well, I was not to be stopped so I took a drive to a nearby city where another dealer I've dealt with had a really nice supply of 1 oz coins, and I picked up two SAE's for $30 bucks a piece. I know the price is high, but I can always buy more if silver goes down further.

You can't believe everything you see, but I've watched a lot of silver videos that say it will go up with pretty good logic. This one by 'SGTBull" just one example of the silver chearleading:
http://www.youtube.com/user/SGTbull07#p/u/12/j7_7IYukg04
[youtube=425,350]http://www.youtube.com/user/SGTbull07#p/u/12/j7_7IYukg04[/youtube]

 

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[packerbacker]

$30 isn't bad for SAE's, I'd pay it. Yes, I still buy silver but it's with CRH money. I convert the coins to easy cash and the cash into .999 silver. Paying a small premium is no problem if the cash was easy to come by.

 

[Diver_Down]

I still buy as my average cost is well below current melt. I bought a lot of silver 2 years ago and continue to do so. I remember the one FUN (summer show in West Palm) where a dealer had a display case with 1 oz. bars. Some where tarnished, but silver is silver. There were a few people poking through picking out a bar or two. I bought the rest at $11/each. There was close to 100 bars.

 

[MauserMan]

Ah, the good old days of $10 oz... before I started for sure. Maybe JP Morgan will try to further short the silver market and bring prices down to there again for a month before the world implodes!

 

[Diggin-N-Dumps]

I still buy as my average cost is well below current melt. I bought a lot of silver 2 years ago and continue to do so. I remember the one FUN (summer show in West Palm) where a dealer had a display case with 1 oz. bars. Some where tarnished, but silver is silver. There were a few people poking through picking out a bar or two. I bought the rest at $11/each. There was close to 100 bars.

Oh man..that would be great...I had a good amount of silver..and ended up selling when it hit 20.. sure i made a few bucks...but kicking myself for it now

 

[jrf30]

I'm not buying right now, but I'm not selling either. PLus adding little bits here and there through CRH. So I'm accumulating, even though I'm no longer buying.

I'd buy at $25 again though. Maybe another 2 monster boxes.

By the way, in today's market, getting a SAE for $30 is a GOOD price for today. I'm seeing $30.85 as the cheapest on the sites I look at.

 

[fistfulladirt]

I'm still buying from my dealer just below melt, except for nice Morgans and Peace $'s at $25 ea.
I can't find enough in rolls to satisfy. I like collectibles that I can get cheap off ebay.

ffd

 

[Rich Hartford]

I'm not buying. I'm not buying Sgt Bull's doom and gloom either. He must be broadcasting from the planet Nibiru where he went to escape global warming,2012, and underwear bombers.
HH
Rich

 

[$ilver$urfer]

Yes, I've been Agcumulating silver every week since it was about $17 and ounce!

HH,

$ilver$urfer

 

[Kantuckkeean]

I'm buying, but only when I find a deal that's below melt, which isn't often. I'd like to buy more, but I'm holding out, hoping that it'll drop back down to the low $20s. I'll probably start buying if it gets down below $24.

Kindest regards,
Kantuck

 

[Generic_Lad]

I've been buying silver, but mostly 90% US coins rather than pure bullion at the moment. I've been buying circulated Barbers, Mercs, Standing Liberties and Walkers at no more premiums than Roosevelts, Washingtons and Kennedies through one of my coin dealers, and I've really been wanting to assemble a collection of old British coins (some of those old hammered coins are going for cheap right now!) so I've been scouring Ebay for some of them.

 

[MentalUnrest]

I search the coin shops and antique stores in my area all the time and have found a few that have not adjusted their junk silver coins for some time. One has a box with hundreds of silver quarters for $4.45 each and I keep buying them. One of the workers noticed my trend and said it was a much better way to by silver than bullion coins. I'm not sure what that means, but guessing he meant I was getting a better deal somehow.

I do not follow all the articles about what people are projecting as it seems no one will ever know what is going to happen. I believe silver will be well above where it is now in the future and I am sinking all my metal detector finds into it.

 

[JD-GA]

Im opening a store a week from now north of Atlanta and will be buying/trading coins as part of the business. There is literally nothing on my end of town but pawnshops that pay about 8x face value. Just through word of mouth ive got 3 customers who have requested 180 silver eagles between them and have offered me 32$, 33$, and one guy $35 each if and when I can get them. People willing to pay that much over spot for those coins says something all by itself doesnt it?

 

[Rich Hartford]

Im opening a store a week from now north of Atlanta and will be buying/trading coins as part of the business. There is literally nothing on my end of town but pawnshops that pay about 8x face value. Just through word of mouth ive got 3 customers who have requested 180 silver eagles between them and have offered me 32$, 33$, and one guy $35 each if and when I can get them. People willing to pay that much over spot for those coins says something all by itself doesnt it?

Opening that store sounds like a smart move.
Good luck
Rich

 

[MauserMan]

Thanks for the insight folks, I think this will be an interesting year for silver.

 

[jim4silver]

I haven't bought silver since the very low 20's. I still do accumulate some gold still through dollar cost averaging.

Nobody knows for sure what is going to happen to gold/silver prices in the future, but everyone has an opinion one way or another. One thing to keep in mind is that the PM cheerleaders have been correct far more than the anti PM bugs. There are some pundits who have been poo-pooing gold and silver for the past years, constantly saying it has reached its peak and that the "bubble" will burst. I imagine those same pundits are still saying it now, even though they have been wrong in that gold and silver have been in a bull market for 10 years or so. Someday they will be right, but when?

As each day passes and more bad financial news comes out, I become more convinced that hard assets are the place to be- PMs, oil, ag commodities, land (especially farm and rural). With the budget deficits, debt, unemployment, etc, I don't see how things will ever get back to the "good ole' days" here in a financial sense; almost all the manufacturing is overseas, service jobs are now outsourced overseas, and more and more people here are demanding assistance from the gov- food stamps, 3 years of unemployment benefits, etc. I read alot of financial news material and I have not seen one person explain how all this stuff is going to be fixed and make things good again. Other than the entertainment/sports industries (and maybe some computer/tech), we really don't produce anything here anymore that is consumed by other nations.

India, China, and Russia and other similar places are growing and prospering relative to their past 100 years, and will probably be like we were as a country in the 1900s, and all three of these countries are increasing their gold/silver purchases on a gov level (as well as citizen level too). Each century it seems one nation rules the world so to speak, only to be replaced by a new one. In the 1800s it was England with their currency being king, in the 1900s it was the US with the dollar being king (after WWII), which country will it be in the 2000 century?

It would be nice to accumulate some decent wealth and be able to buy some nice beach front property cheaply in the coming years. I hear Florida property had come down quite a bit lately.

Jim

 

[EpicDeuce]

I've been keeping my eyes peeled for decent silver coin deals to snap up in addition to the CRH turn-outs.

 

[ArkieBassMan]

I haven't just outright bought any silver, but I probably would should a good deal come along. I'd probably buy a truckload of cow manure if the price was right.

 

[AGCoinHunter]

I am buying .999 now. No 90% though unless its a Morgan or Peace dollar.

 

[FreedomUIC]

I have a system down where I know what the spot price is for the day. On E-Bay I will bid for any 61 - 64 proof sets and set my
bid at spot - .75 cents - shipping. I have picked up quite a few proof sets for a total of 16.00 (Shipping included) over the
recent months. Don't always win, but win enough to keep adding to the pile.

Have started a Barber Half Dansco Album recently. I was lucky and got all three Key dates at one time, have only roughly 13 dates to cover and the album is complete....

I already have two complete Dansco ASE books and one set of NGC Graded MS69 ASE's. Just order an 87 ASE to complete my
third book. Am thinking about putting together a "Proof" ASE book as well.

Then I am on to Walkers......