One more purchase?

[jim4silver]

Last year I set an arbitrary limit of $35 per ounce for silver purchases. Looks like I am getting close to that. Due to the pullback this morning I plan to visit one of my local coin dealers today, where I believe I will be able to get a few generic .999 bars/rounds near spot.

This might be my last purchase if silver sticks above the 35 level in the coming days, weeks. Kind of sad but also kind of glad my current stash will go up in value.

Anyone else thinking of buying now?

Jim

 

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[Bowen89]

I just made my biggest purchase on saturday. Which really isnt huge but for me it was. Because i was nervous this would happen. Up up up. Im holding off for now but if it seems like its going to stay i may start buying again

 

[jim4silver]

I bought more than I probably should have today. I was able to get some still in plastic 10oz NTR bars for right at 35. I was talking with the coin dealer (someone I have dealt with for years and would consider a friend) and told him I could not buy any today since with his premium the price was over my magic number of $35 per ounce (not by a lot, but some). So he said, I will sell you as much as you want at 35 (I wasn't sure if he was joking or not), so I told him I will take 6 bars and walked out broke but with some nice new shiny bars.

Guess I am done buying now unless I win the lottery or the price goes way down.

Jim

 

[Bowen89]

I agree. I just have a bad feeling about $40 mark. Everyone i see keeps talking about ridding some of their stash around there. I dont see why selling any is worth it yet but im in it for the long haul. Id rather have my old coins than someone holding my electronic money in a computer

 

[Rogerwilco357]

Just bought 3 rolls of dimes and quarters the most in coins I have bought since silver broke 30

 

[jim4silver]

I agree. I just have a bad feeling about $40 mark. Everyone i see keeps talking about ridding some of their stash around there. I dont see why selling any is worth it yet but im in it for the long haul. Id rather have my old coins than someone holding my electronic money in a computer

I wouldn't worry about 40. I am a biased silver bug, however I believe once silver gets into the higher 30s, it will be a short trip to 50. What happens then I can only guess. If we ever get a close above whatever the exact prior high was in 1980, it will be off to the races to 100 I believe.

I can say this though, I have heard from one of my coin dealers that some individuals who work in banking/financial sectors have been buying up good sized quantities of gold and especially silver lately from him. From what I have heard, many of these folks had zero ounces of silver/gold until very recently, and have been buying like crazy over the past month or so. He said he asked them why they are buying right now and none of them would say why other than they felt like silver and to a lesser extent gold, was going to do well over the "short term" (whatever they meant by that?). But they had no good conspiracy stories and if they did they weren't talking.

If you are in this for the long haul, put your PMs away someplace safe and don't even look at the daily price swings it will drive you crazy.

Jim

 

[Marchas45]

Jim why are you buying that Physical Silver? You should be buying Paper. Check out my video I made yesterday morning. Lol Yes that's me Charlie "The Silver Recliner Report" I was bored to death. LMAO By The Way, Congrats on your Purchase. I just received 1075 Roosevelt Dimes I had to roll. Lol

 

[jim4silver]

Jim why are you buying that Physical Silver? You should be buying Paper. Check out my video I made yesterday morning. Lol Yes that's me Charlie "The Silver Recliner Report" I was bored to death. LMAO By The Way, Congrats on your Purchase. I just received 1075 Roosevelt Dimes I had to roll. Lol

Looks like someone is ready for their own Youtube channel? LOL!


Jim

 

[lost]

Jim---this morning at the local greasy breakfast joint, I walked over to one of our area's biggest financial brokers/real estate/ builders, very rich dude, and asked if he had any opinion of while way silver would go in the short and long term. He said, flip a coin. No idea. The breakfast was lousy too.

marchas---really enjoyed the video. Great job.

 

[jim4silver]

Jim---this morning at the local greasy breakfast joint, I walked over to one of our area's biggest financial brokers/real estate/ builders, very rich dude, and asked if he had any opinion of while way silver would go in the short and long term. He said, flip a coin. No idea. The breakfast was lousy too.

marchas---really enjoyed the video. Great job.

Lost,

The people I know that would match the description of the guy you talked to, always poo poo PMs whenever I try to talk to them about it. Back when gold and silver were going up crazy fast in 2011 I know a couple of them jumped onto the PM bandwagon via ETFs for a bit.

I am always happy when people like that are against PMs, because it tells me that the bull market if far from over. At some point when/if the financial markets collapse or the dollar starts falling and inflation takes hold, I am sure such folks will finally wake up to PMs. By then they are going to be paying a lot more than they would now.

Further, it would not surprise me if some of these folks don't really tell you/me the truth about their view on PMs and perhaps they don't want anyone to know they are into PMs? It still baffles me that someone smart enough to be successful in their own business (which is not easy in this day and age, I know that firsthand) is not bright enough to see the writing on the wall when it comes to where things are headed via the financial markets, etc.

Jim

 

[lost]

Jim---I asked this man because he owns a small stock brokerage firm. I know he must follow PM's. I sort of believe him when he says he doesn't know which way silver will go. This guy will always remember me because in the mid 80's I was fussing at him for putting one of my friends into Apple Stock. Told him MS would squash Apple like a bug. Hint, don't ever take advice from me.