My PM addiction cured?

J

jim4silver

Silver Member
Apr 15, 2008
3,662
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I don't know if it is from years of down prices or what, but I don't have much of a desire to buy any more silver right now? The last 3 times I went to local stores (been about a week's worth of visits) I bought zilch. The idea of buying at $16+ motivates me not. Perhaps when we get back into the $14 range I will feel like buying again.

I thankfully had some decent cash flow into my business over the past couple weeks so I have some unexpected money to spend but zero desire. Other than any cool stuff I can get cheap and flip, I have no interest in bullion.

I have been into PM's since mid 2000's (addicted) so maybe I am finally cured?

Stacking cash right now feels GREAT. It is wonderful having dry powder and not feeling like I MUST run to the local coin store to spend it. The online pundits saying cash or the dollar is crap are idiots, don't believe them. There will be a day possibly when the dollar dies but that might not be for a while.

PS I am still basically all in on silver so if the price goes up I will not complain about it. :hello2:

Just my opinion.

Jim
 

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Had a relapse recently. I sold some of my semi numis stuff and wanted to put most of the proceeds back into silver, even though I think the odds are greater we are going lower before higher ($20+).

Picked up a 2013 Kilo Koala BU for $1.25 over spot per ounce, and a few 1986 Kon Tiki 5 oz silver coins in original boxes with COAs for $2 over spot per ounce - beautiful coins, I had a few and got a chance to add a few more. Here is an idea of what they look like:

1986 Samoa Kon-Tiki 5oz Silver Proof Coin | www.singaporebullion.com

PS My purchases mean silver should drop soon.....

Jim
 

jim4silver said:
I don't know if it is from years of down prices or what, but I don't have much of a desire to buy any more silver right now? The last 3 times I went to local stores (been about a week's worth of visits) I bought zilch. The idea of buying at $16+ motivates me not. Perhaps when we get back into the $14 range I will feel like buying again.

I thankfully had some decent cash flow into my business over the past couple weeks so I have some unexpected money to spend but zero desire. Other than any cool stuff I can get cheap and flip, I have no interest in bullion.

I have been into PM's since mid 2000's (addicted) so maybe I am finally cured?

Stacking cash right now feels GREAT. It is wonderful having dry powder and not feeling like I MUST run to the local coin store to spend it. The online pundits saying cash or the dollar is crap are idiots, don't believe them. There will be a day possibly when the dollar dies but that might not be for a while.

PS I am still basically all in on silver so if the price goes up I will not complain about it. :hello2:

Just my opinion.

Jim
Click to expand...

Jim,

When you get your "addiction" under control, you'll find it just changes form...

Like Einstein said,
“Energy cannot be created or destroyed, it can only be changed from one form to another.”

Here's how I cope....:tongue3:

http://www.treasurenet.com/forums/garage-sale-finds/523686-team-quote-i-love-when.html

Merry Christmas,
Bill
 

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"I picked up some silver today cheap"

I see you have fallen off the wagon. Lol Keep Stacking
 

I'm waiting for it to drop some more before buying more.
 

Other than picking up a Gairsoppa 10 ounce bar, I'm not picking up any more silver. Would love to see the GSR come down from around 70 where it seems it been stuck at for awhile now.
 

Hi Guys, I subscribe to the James Dines newsletters. He has one of the best track records of picking out trends that goes back decades. He says we are starting the 3rd wave up in the gold and silver arena, and its going to be a good one. He feels gold hits $3000-5000 per oz , and silver $300 per oz. It may take a few years to get there, but we are getting close to a rocket launch. Keep accumulating .
He also feels long term silver hits the same price as gold. Hard to believe at this point, but with a dollar collapse/ panic it could easily happen.
 

I just can't realize those prices, but you never know.
 

Bought 4 rolls of circulated Morgan and Peace dollars over the last month, + tube toppers (unless I buy mint fresh coins with the nice, sharp-edged rims, I find that a Whitman coin tube will always take one extra coin, so I always fill them to the top). Paid over 19x on average, which was a bit more than I wanted to pay, but couldn't find decent coins any cheaper. Just felt the need to add to the stack. Other than an estate purchase, this is the only silver I've bought in over a year.

TCK
 

I was pretty bummed that I missed the most recent dip into the 15s. I just haven't had a lot of spare cash since a mini-house renovation and this is my slow time of year at work.

My basic plan for this year is, if the price is right, to build my gold and platinum stack while increasing silver. Ideally, every purchase will be 20-50 oz of silver, 10g-30g of gold and 5g of platinum. I get paid every two weeks and only spend what I can afford. Slow and steady is my approach. I'm stacking for 30 years down the road, not an immediate profit.

Really, my biggest issue with silver is I never know what I want. I know I should just grab generic rounds but, dang, I love 90 percent coins and 5oz Scottsdale buttons, both of which come at a premium.
 

I got lucky today and scored a roll of 20 Australian 2011 silver koalas still wrapped from the mint (20 coins in individual capsules together in plastic wrap like a roll).

The cool thing is I got the them for $20.50 per coin, that's less than $2.50 over melt. I haven't been buying hardly anything lately but this I couldn't resist. I am going to keep them sealed like they are.

PS The silver chart is starting to look good on a technical basis. We are approaching a near "golden cross" here on the weekly chart (see attached). That is where the 50 day moving average rises above the 200 day moving average.

I think if we get to $18.75 in this run up, then we will probably see $20 again and maybe a bit past?


$SILVER - SharpCharts Workbench - StockCharts.com


Jim
 

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We have a couple of world wide events taking shape that could spike the metals in the near future.
The Netherlands will be voting for a new leader soon, and the guy that is leading in the polls wants to get out of the EU
France will also be voting for a new leader in March, and if LePen wins, she also wants out of the EU.
That could collapse the EU and cause some world wide turmoil .
Some of the analyists are saying the gold supply in the West is very tight, and could lead to the collapse of the Comex.
That would break the price manipulation and cause the prices to soar.
Interesting times we live in that's for sure.
 

Fear mongering is not my thing, but having said that, I think now may be the time to hedge your bets with PMs and other hard assets. Financial markets have had a nice run-up from Trump economics (essentially deregulation), but I don't believe it is sustainable. Thinking $20.00+ silver will come fairly quickly.

I'm still long on the U.S. economy over the long haul, but right now, the market screams correction. Hope I'm wrong, but that's why I try to balance my bets.

I don't always agree with Jim, but I too think PM prices may be headed north in the short-term.

TCK
 

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Currently the Dow and SP500 are every expensive. I wonder if the run ups now are short covering, or if people are just following the momentum and jumping on board? At some point they should correct, but who knows? I have been accumulating mining stocks, and also adding some low priced uranium and rare element stocks, as per Dines recommendation.
 

Had a minor relapse today. Was visiting a local store that had recently bought a nice collection of cool foreign silver. Some was priced too high for me (some of the odd year older Kookaburras), but they had a bunch of 2015 Kooks for only $2 over spot. They retail on some big online coin dealer sites for $30+. I paid $30 each for a few really cool Russian proof coins and older Isle of Man cat silver coins that go for a good bit more on ebay.

Here's what one of the Russian coins look like:

http://www.ebay.com/itm/Russia-1997...2c8e25d&pid=100011&rk=3&rkt=5&sd=172485369058

Jim
 

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One of my local guys sold me a dozen 2011 Canada Timber wolf coins for $5 over spot per coin. I took all of them that had no spots that I could see without a loop. The others only had minor amounts of spots but I left those. I don't think I have ever seen one without any spots. Generally speaking, milk spots show up well before 6 years so I should be OK on them. These used to have a very high premium but I think the spots scared people off over time.

PS The premiums here on junk silver dimes and quarters is less than $1 over melt per ounce of silver. That's cheaper than generic buffalo rounds!

Jim
 

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