2011 GOLD high $1,500.00, SILVER high $24.00

The way I purchase PM's is from the POV of how much cash I have available. So say we take your $3,000 number. If gold drops in price, I take that same $3,000 and try to purchase as much as I can. I don't set my sights on the number of ounces I wanted, and then only buy what they are worth.

Since gold hasn't come down enough to be able top pick up 3 ounces for $3K, then what I would do next is take the remaining dollars and buy as much a silver as I can...

So no matter what happens, that $3,000 is spent!!

Yeah, it is all a chance we take when purchasing PM's, stocks, computers...Just think about the depreciation of electronics and you'll feel a lot better!!!

 

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$25 isn't that much to worry about. Gold spot can surge that much in a day or two.

If you can get the Mint on the phone and cancel your first order then do it quickly! Once canceled, you can order another one at the lower price.

While the Mint has a 7-day return policy, in this case it wouldn't behoove you to order a second one at the lowered price and then pay return shipping and insurance for the first order, as those fees would cost you around $25 to do so.

 

I would go along with canceling the order, but the trend for gold and silver has been headed down. I would wait until PM showed an upward trend and shows it can stay above a resistance level without falling through. Gold today was at the same level as mid-September. Interestingly, it took about 32-33 market days to advance to the peak and about the same number to retreat to today. It isn't a smooth parabola ( bell curve) each way, but very interesting nevertheless. Many people lost real or paper profits along the way. Let others take risk until you are sure it is recovering. IMO.

Jim

 

I think the overnight low of $1307 is a bottom in gold for now. I think it's a good time to buy, if you want to add to your stack.

I could well be wrong though ...If gold breaks below $1300, we're likely to drop all the way down to $1050 or so.

I'm waiting for silver to drop a few dollars more in the next 1-2 weeks. ($22?)

IMHO.

 

I personally don't think gold will drop to $1050 or even $1100. Unlike its peak in 1980, gold has maintained these lofty levels for so long, anything less than $1200 will be viewed as a buying opportunity, in my opinion. Naturally, that's just my opinion, based on my decades of observations of this fickle gold market.

 

I personally have taken the attitude that the investment pool is fixed with very little being added. That means for every gain there is an offsetting loss. So when you make a 100, someone has lost 100. IMHO

 

Currently
Gold: 1312.20
Silver: 26.85
Platinum: 1782.00
Palladium: 804.00

I believe at this time we may still have a little ways to fall. Don't really want to have a thread predicting "how low will we fall?", but I do have my own guess. Part of the process I think, up, down, up, down...teeter, totter.. And, get off when you're scared!! Not scared here... watching with interest and amusement.
:angelbounce: Lucy

 

That's good to hear friend, I kinda just laugh on the inside when I hear people say they made a big gain in gold/silver or other investments on dips like we are having when in fact they only bought in what they would have bought when said product was up and took the rest of the money and spent it on ice cream or some other nonsense...

The one thing they fail to realize is you make your profit when you buy in not exactly when you sell...heck on a dip I'm more likely to see if I can scrape around more money to buy in...

on another note I think I did pretty well at the coin show we had in Grand island this last weekend
also it was he 1st show I was able to go to...we only have 1 show a year in town...and I heard there's going to be another one in Kearney in march so I might hit that one up...
here's a list below of my buys oh and I sold about 2 weeks before the show $21 face value in junk silver at 20x so I walked in with that $420 and other money I had and used that to buy in more...next show I go to I'm going to make the rounds and see what I can come up with then...I just couldn't believe some of the dealers didn't bother to remark some of this...one dealer I asked after he sold me alot of this that he was buying junk for 22x and selling for 25x... I just didn't have the heart to tell him he sold me some of those halves for 13x...

Dimes
1916P $2.00
1927D $1.50
1926D $1.50
1919S $2.00
1916P $2.00

Quarters
1937S $5.00
1939D $4.50
1955D BU$3.50
1938 $4.50
1954D $4.00
1952D $4.00
1938S $4.25
1938S $3.75
1928 BU$7.00

Halves
1924S $9.00
1934D $8.00
1908D $9.50
1920S $8.00
1909 $9.75
1911S $9.50
1899 $9.00
1936 AU$10.50
1929S $9.25
1935 $8.5
1942 $8.00
1920S $8.00
1934s $8.00
1960D BU$8.00
1961D BU$8.00
1963 BU$8.00
1963 BU$8.00
1936D $6.50
1936P $6.50
1939D $7.00
1937S $8.00
1917 $9.00
1941 $9.75
1907S $9.50
1906 $9.00
1912D $8.50
1911 $7.50
1939S $7.50
1920S $9.00
1937D $7.50
1937D $9.00
1917 $9.00
1947P $9.00
1957D BU$6.50
1963D BU$9.00
1958 BU$7.50
1954D BU$10.00
1952D BU$10.00
1939S $7.00
1920S $7.00
1920D $8.25
1959D BU$8.00
1911 $7.50
1945 AU$8.50


STANDING LIBERTY QUARTER
1942 BU$33

MORGAN
1887s $25

 

Currently: The Dow well under 12,000 again and investors sure don't like unrest, so where's a PM to go... UP+

Gold: 1,338.70
Silver: 27.87
Platinum: 1801
Palladium: 817

(ASK)

Theme music anyone, it's a FIRE IN CAIRO (YouTube video link)

 

A good day for PM, but consider whether it is a buying time or a selling time. Looking at the chart it strikes me that many just bought in case of continuing or increasing fear of the Middle east/Egypt problem, as the price now near the end of the US market day is not at the peak, but has dropped about 1/3 from it. Be wary. Do not automatically consider it a "buy" sign as it may a short term hike due to "fear factor".

 

Definitely not a buy signal to me... just watching the numbers fly, like Lucy being observant.

 

None of 'em are buy signals to me.. I'm way over the recommended levels. The reason that brought me here was/is still the same; to try to learn when the best time to sell is (and NOT because of panic!!) meaning, learn how to analyze for myself the over-abundance of data that is out there. I am not really tempted at all yet (translated: don't need to yet..) Honestly? AFTER I reported everything they MADE ME report (after I made the promise that I wouldn't), nearly 6 years ago, I then went on to find more, enough to make me worry they'd come put me in jail. I've done the 'right' thing with the cpa and legals.. my point is this: I'm learning here and from a few other sources, HOW to feel comfortable (or not..) with what I have, HOW to intelligently make decisions to sell, (definitely not buy), and maybe learn if a swap is/will be in order. Oh wait, the point really was this -- what we bought so many years ago, I had FORGOTTEN about..only looking at the prices here and there. If it weren't for this site, I might not be so aware of the ups and downs, or maybe even what I have in hand. I am enjoying the learning process. Not scared. But I trust I will hear when I SHOULD be scared. (And, no, I'm not depending on someone to tell me ) I suspect (hope?) that I will know by then.
TMI???? Sorry

On another note, gee that song posted earlier, Fire in Cairo, well, I can't imagine where THAT came from!! Ha Ha! Kind of weird..
Lucy

 

love or revolution, fires burn

 

I think you should check that 24-S half again-- if that is, indeed, the date, then you have a fake, since no halves were issued that year.

But the 57-D BU for only $6.50-- what was the dealer thinking?

 

Today's market was definitely an Egyptian Fear Factor episode. I want to see how the market shakes out....and how it shakes out on the ground in Egypt.

 

Mubarak just asked the government to step aside, but he didn't. Streets will be active all weekend. Monday will be interesting while the nation brews over this.

 

I personally don't think gold will drop that low either, yet with the climb the market has taken maintaining these lofty levels so long, I do want to be prepared for a major "correction", and that 1050 level is is where I think it would stop.

I agree with you that prices would be serious buying opportunities.

 

Will you be purchasing some palladium coins when they come out? I know I will be.....


Isn't it funny, just as PM's have begun their deep dive, there's turmoil somewhere in the world that bounces PM's right back up!!!


I really don't know how you can keep up with all those collectibles! All those coins and numbers makes my brain hurt....it's exactly the reason why I only stick with gold/silver and soon to be palladium....

But you definitely seem to enjoy them so keep at it!!

 

The current spot price of silver based on the APMEX ask price for spot, which is the price at which they sell silver plus a premium based on the form of silver you get from APMEX, but the important part is that's the spot price they take into account when calculating premiums over spot. This spot price is currently $28.03. The current premium over spot per ounce for $1000 face value bags is 40 cents over spot. I don't have as solid a prediction for the actual spot price of silver by year end 2011 as my prediction for the average price dealers will be selling 90% junk silver. This prediction will be that most dealers will be selling pre-1964 junk silver between $50 and $55 per ounce.

My prediction for the spot price based on the silver market on the major exchanges is that the spot price in that market will most likely be somewhere between $45 and $50 per ounce, probably closer to $50 than to $45 per ounce. The prediction I am more confident in making, though, is my prediction for actual dealer rates for junk silver, as I do not know what those who run the commodities exchanges have up their sleeves, but I do know that the current supply/demand fundamentals are grossly in favor of the prices of physical precious metals that you can actually hold in your hands, going way up in value to account for all that monopoly money in circulation.

 

Demonstrations are also happening in Albania and Jordan. Hard to say what next week is going to like. Other countries?
It's a good bet PM (and oil) should be higher.

OTOH, the stock markets were doing well until Cairo started burning.

Strange times.