Should I buy more now or wait?

[jim4silver]

I recently have been selling a bit of my semi numi stuff that I got cheap and am thinking of putting the proceeds into cheaper bullion so as to come out with more ounces. Thankfully my plan of sticking to (when I could get it) lower premium, cool foreign and other assorted semi numi stuff as silver dropped in price has been great, in that the premiums have gone through the roof. I recently dumped several rolls of BU halves and actually made a small profit, even though silver is down close to 3 bucks since I bought them. I am meeting with a smaller local dealer tomorrow to hopefully dump some graded silver pandas and random Kooks and koalas, etc, for which I will also make a profit on, even though I bought them when silver was higher as well. If I had listened to the "silver is silver" BS, I would be taking a loss now by selling (which I would not do unless I was desperate for the cash).

My dilemma is, do I put that $$$ into bullion now, or wait for lower prices? I am like a beaten dog in that I am hesitant to buy more now because we could see lower prices, even though I am not sure the bullion would be available locally, since my local stores only are getting bits and pieces in right now.


PS Have a bit of schadenfreude over the falling stock market- close to a 16 thousand handle. I hope it goes to ZERO. No offense to those holding stocks of course.

Thanks for any input!


Jim

 

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[Terry Soloman]

Bullion is the way to go.

 

[Meucci]

It it pretty low right now. I really don't see it getting much lower.

 

[jim4silver]

Yes bullion now is good, but for the past few years it has only lost value. My semi numi stuff has mostly gained in value, even though silver has fallen. That is why I want to dump much of it now because once the silver price goes up, the premiums tend to fall on the stuff I am talking about. For some reason semi numi premiums move inverse to the silver price in general.

I am lucky though in that I have a couple good local dealers that treat me like a dealer and sell wholesale to me on stuff they want to ship (not sell in the local store) which is how I obtained my semi numi stuff cheap. And also because they are not interested in ebay, etc, but only want to flip stuff.

Jim

 

[jim4silver]

It it pretty low right now. I really don't see it getting much lower.

I think that too, but I have been wrong on my silver calls for a while so I don't know what to believe anymore short term. At this point I would not be surprised to see silver drop lower, but if that happens in the near future I know my local stores will not have decent inventory. They are still ordering silver now with delivery dates of 5 to 12 weeks (depending on item), and do not have much of anything in stock now (no low premium stuff for sure). Thus the premiums at 13 silver will probably go up even higher proportionally (assuming people keep wanting to buy cheap like they have been for the past few weeks) to the point it would quash any benefit of buying at the lower prices.

Still though, it doesn't feel bad to have some extra cash in hand in case a good deal comes along (instead of just buying some ASEs or Maples now and stashing them).

Just my opinion.

Jim

 

[Goose-0]

Jim-IV-AG, silver only went up 20 cents/oz and gold went up $20/oz today due to the stock market falling 350+ points today. The stock market is now lower than last year's closing. I have a hunch (yeah, only a guess) that the stock market will go lower in the coming weeks, thus the P Ms should advance somewhat. I'd say continue to buy silver as I believe it will advance slowly in the months to come. Politics? The U S is really in bad shape and all of the media just sloughs it off as "slight increase" in business. Also, the gov says inflation is approximately 1.2%/yr.......I estimate it at 5.5%. Of course, the gov DOESN'T include food and fuel in their erroneous inflation stats.

 

[releventchair]

Where is the most gold being accumulated?
Who is collecting it and why?
This our nation the U.S. can compete or risk other nations using gold for transactions beyond our ability to match with tangible mediums.
Locally, trust in the dollar or find a medium to diversify should it get messed up worse than it is. Not crazily or upsetting ones finances..but an accumulation with affordable discretionary income on a regular basis while still heading towards being debt free and saving some money as well. I'd say cash but specie is more like it.
Golds little brother silver keeps an up and down movement.
While insignificant to some one sitting on a few hundred ounces, if your holding a ton and playing those up and down movements just right(and I suspect few are) those small spreads add up. Let me clarify that by few I mean small holders.
Enormous holdings or leverage are another story.
How ever, the assurance of tangible/physical silver trumps paper unless you have faith in paper. That can be hard enough with today's fiat money, let alone a paper receipt for something you can't touch.
Avoiding the temptation of those financially suicidal in the stock market buying high and bailing when things get low and defeating any gains, steady accumulation beats trying to outguess the low thresholds and rises in value of P.M.'s as well. Long term, long term.
The long term effect rather than trying to gain a profit. Yes it would be nice to buy at a record short term low.
The more one expects to gain the more one risks losing.
Those movements up and down daily bug me if imagining holding a ton and trying to finagle gains, but I really don't have the stomach for it.
Sometimes think a game is being played though.
Physical does not pay dividends but they are definitely secure and I know what is really owned.
If someday paper gets called, it will be interesting....
Just my opinion from watching over the years. Don't buy or not buy strictly on my method or opinion.
Other things can also be purchased and rotated through use and provide an inflation hedge as well.
Buy P.M.'s for long term goals. Unless you think they will cost less decades from now.
No interest or dividends in the meantime, plus having to keep them secure.
No sense losin sleep over a few dollars an ounce short term, unless you/I/we shouldn't hold any maybe.

 

[jim4silver]

Picked up a few rolls of bullion today. Got a roll of Philharmonics and a couple rolls of 2014 silver Britannias with the horse privy. Got them for $2.50 over melt per coin. The Britannias are in mint sealed tubes so I don't plan on opening them.

I will keep some cash on the sidelines for later though. Maybe buy some stocks...Ha Ha

Jim

 

[Goose-0]

"Ha Ha" Jim? Buy stocks. AT&T pays OVER 5.6% in dividends per year. And there are other stocks that are close to that rate. And, as stocks go down, your dividend rate goes up. (I know stocks went down over 1000 points this week.......it only increases the dividend rate.)

 

[jim4silver]

"Ha Ha" Jim? Buy stocks. AT&T pays OVER 5.6% in dividends per year. And there are other stocks that are close to that rate. And, as stocks go down, your dividend rate goes up. (I know stocks went down over 1000 points this week.......it only increases the dividend rate.)

As long as the price of the stock doesn't drop, that's a great deal. If the price drops more than the total dividends, you are still losing. If stocks get hit hard they won't be able to up the dividend rates quick enough. Att has been a good performer, but the long term support line for the markets (S and P, Dow, Nasdaq) are now broken in the charts, thus I believe there will be more downside to go, either short and/or mid term. We'll know by next week if it will go deeper now or recover. A similar drop happened last year around this time if I remember and the market recovered. If the fed announces no interest rate hike in Sept. it might help short term but that won't last too long.

I recently sold some semi numis silver coins and my return was over 5.6%. Plus I had the fun of collecting the coins, etc. If silver crashes in price, I still have my coins. When/if stocks go bust, you have a certificate maybe as a memento, even though most folks don't hold them personally anymore. I doubt Att would ever go bust, but if we have another 2008 or even just a moderate correction, most stocks will take a big hit.

Just my opinion.

Jim

 

[TheCoinKid]

Picked up a few rolls of bullion today. Got a roll of Philharmonics and a couple rolls of 2014 silver Britannias with the horse privy. Got them for $2.50 over melt per coin. The Britannias are in mint sealed tubes so I don't plan on opening them.

Jim

I also picked up a mint tube of Britannias today. These were 2015s @ $2.49 over spot. My first purchase since April.

I really want a tube of 2015 Libertads, but can't find them right now at a reasonable price.

BTW, don't rule out the stock market just yet. Buying after a major correction (and I think we probably have more to go) is historically very profitable.

TCK

 

[jim4silver]

I also picked up a mint tube of Britannias today. These were 2015s @ $2.49 over spot. My first purchase since April.

I really want a tube of 2015 Libertads, but can't find them right now at a reasonable price.

BTW, don't rule out the stock market just yet. Buying after a major correction (and I think we probably have more to go) is historically very profitable.

TCK

TCK,

Be careful with recent Libertads. I have seen some with milk spots, but not as bad as Maples, etc.

I will buy stocks once the crash finishes. I anticipate going back to near 2008 levels. Since there is no QE anymore, I don't know what will stop the bleeding like all the QEs did over the past few years (or rather prevented them, along of course with ZERO PERCENT interest rates). Funny how when prices drop the stock markets enact measures to slow down the beatings like they did this am at the open. Funny how they don't do that when the prices are going up?

Jim

 

[TheCoinKid]

Thanks for the heads up on Libertads. Seems like they're hard to come by these days anyway, and when I do see them, they're $4.50, or more, above spot. Not interested at those prices.

RE: stocks: Hard to know when the "correction" will be over, but I'm not expecting anything like 2008 levels. I was lucky this time and took a fair amount out of the market a couple of weeks before the drop. Sold an underperforming investment and hadn't reinvested yet. I plan to start putting that money back in the market sometime soon. Waiting for things to settle a bit first. Remains to be seen if I will be buying on the way further down or on the way back up.

 

[Marchas45]

What's with the Britannias? Seems like everyone is buying them, me included. Just bought 40 myself. Maybe that's all that's left. LMAO Keep Stacking

 

[jim4silver]

What's with the Britannias? Seems like everyone is buying them, me included. Just bought 40 myself. Maybe that's all that's left. LMAO Keep Stacking

Charlie,

I love your videos, but why don't you ever give your treasurenet homies shout out on the videos? LOL!

Jim

 

[Marchas45]

Lol I don't want people to know what my hobby is. LMAO Next Time Keep Stacking

 

[Marchas45]

Here You Go Jim Even Bradley Is Mentioned and By Donald No Less. LMAO Keep Stacking

 

[releventchair]

Thank you Donald for your visit today.
Life is always better after a Silver Recliner report. Yes it is ! L.O.L.! Which as a stacker you surly know.(surly sp. intended. L.o.l..)
Stick with Charlie, he'll steer ya right.

 

[TheCoinKid]

Picked up a mint tube (25) of 2015 BU 1/2 oz Australian (Perth Mint) Hammerhead Sharks today. Limited mintage of 300K, but I doubt that will affect future values. Paid a bit more than I should (around $3.00 per oz above spot), but i also know that Govt. issued 1/2 oz coins generally go for a higher premium. Now if I could find some reasonably priced 2015 Libertads, I might just shut down buying for the year.

TCK

 

[Goose-0]

I was cruising through a pawn shop today and saw a bag full of (36) 90% silver Nazi 3rd Reich Swastika 5 Mark coins. The Swastika coins were only made in 1936 through 1939 at various mints throughout Germany. The total silver weight 14.47 oz. I paid $10.50/each for them. On eBay they are going for around $18+ each and I purchased them because of the P C going around.....the Confederate Flag, the Nazi symbol, high schools and colleges not allowed Indian names, and the general "purifying" of what's best for all of us. There were 6 different mint marks for the 1936, '37, '38, and 7 mint marks for the 1939, making a total of 25 mint marked Nazi Swastika coins. With this purchase, I now have a complete set plus extras. (Been collecting coins for 3 score and 10 years........no, I never met Abe)