Was it a mistake to buy silver now?

I had just bought around $100 in Kennedy 40% half dollars. I really want to start investing in bullion and considered this a good start. My questions are: do you think this was a bad time to buy with silver at $30 already? Should I keep buying small amounts of silver every month or so to diversify my price range? When do you personally know it is time to sell? Should I be investing in 90% silver, graded silver coins or bars instead? Thank you for your input!!

 

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I buy 90% halves. They take up less room and have a smaller premium.
I started to buy one year ago, and I'm going to keep buying on a monthly basis
and hold for at least five years before I think of selling.
Have your own plan. How much can you afford to tie up each week/month?
How long do you plan to hold it? One year? Five? Ten?
Stick to your plan. Good luck!

 

If anybody says they know the right time to buy PMs they're lying . Conventiomal wisdom says buy when the price is low not when it's at a peak . Problem is the countries economy hasn't been this bad since the Great Depression . So to me all bets are off . Just don't buy more than you can afford to lose . Also if it makes you feel more secure to have some silver or gold buy some , but with the above caveat applied . As to your 90% coins or bars . If the bars are big you might have to pay an assayer to proove it's as pure as stamped , but the markup might be a little less . I buy silver dollars
and an occasional ASE . Good luck .
rzage

 

You don't say how much you paid for the 40% halves. No investment is good or bad but price will make it so.

 

I bought a 1972 Eisenhower dollar, a 1976, and a 1969 half dollar for $14.65 and 12 40% kennedies plus a silver quarter for $48...good deal? I am also in the process of buying 25 silver dimes for about $51.

 

Conventional wisdom isn't all it's cracked up to be. If it were, it would realize that you can't distinguish a peak from a continuing climb, or a dip from a continuing fall, without the ability to predict the future.

 

Anything is possible , but if your concerned that Silver might dip back into the single digit prices , don't be.

 

On Friday silver closed at $29.90. Thus, your 12 40% Kennedys are $53.06 The quarter is $5.41 The 25 dimes are $54.07.
I personally like a mix of bullion. Mainly silver rounds, a very few 1 oz bars, 10 oz bars, Kennedy 90%, a very few Kennedy 40%. I really love the beautiful Australian Kookaburras and Kangaroo Series. The 1oz. $1 Silver Kangaroo Series....... (SPENDY). On my 4th set of Toned American Silver Eagles. Proof American Silver Eagles are awesome too. Was advised to invest in " Common Date" Morgan Dollars PCGS/NGC graded MS64 about 3 years ago. At that time they were going for $45-$55 each. Retail now is $75-$80. I also really like 90% dimes, quarters, halves.
There are many threads on this site regarding silver that you can read and form your own opinion. They say the time to buy is during the "dip." When prices are down. When to sell? No answer. That's something you have to decide. Everybody has their own opinion on things. Read and learn all you can. But, most importantly........have fun. Back to your original question: Was it a mistake to buy silver now? NO. Just my opinion. Good Luck!

 

If your a true collector, than No, it was not a mistake to buy.
Steve

 

Jeff you took my quote out of context , if you read my next line it says in this climate all bets are off . If anyone could tell if it's reached its peak or will go higher they would be millionaires .
Rusty

 

i am sorry it may be just me but latey i have been putting alot of silver coins on e-bay (like now i have 8 standing liberty quarters) i would think i can get close to spot for them but as of right now the bid is only $8
when buy coins for the silver you must remember that when you go to sell them every one wants to buy them cheap so they can make money on them also
i am still trying to learn how to post here hoping it would be better
again thats just me and i may be doing alot wrong also but it is something to think about

 

If I'm looking at the right auction, you still have nearly 5 days to go.

Sure, everyone wants them as cheap as they can; that's the nature of bidding/buying. But, as I can afford it and when there are no other immediate coins I want to buy, I search for mercury dimes on eBay. I have to go through a lot of auctions before I can find a deal that gets around spot, because everyone bids them over spot.

So long as that behavior continues, I don't see how it's any predictor of silver's trend.

 

Silver is at $30 an ounce, and it has leveled off. It may go up, may go down. Should've bought 10 years ago! But as ASE purchases skyrocket, and silver supply falling, it might've been a good idea

 

One thing that has helped me not be paralyzed by fear of buying to high or being engulfed by the greed of buying to much when the price is low is ...... Patience and dollar cost average.

Looking over my records for the past 10+ years, almost every PM purchase was a poor one (mistake) not long after the purchase and a good one (Success) years after the purchase.

There are no home runs....Half these questions on the forum are generated from greed or fear. Relax, take it slow, don't listen to those that dish out fear or greed or spout un-documented FACTS. (people that just KNOW things is an example)

Be prepared to be wrong, because you will be right about that at least. I am.

 

Thank you everyone for your opinions. I really think that silver is the right choice and I think that gold has found where it is "comfortable" at right now...around $1375 and ounce...so I will soon be selling all my gold (only about 1/2 ounce). I am then going to use this to invest in silver once I find that silver dips a small amount because I believe silver will at least reach $40. The question is what to buy? I will mostly end up with some graded morgans, peace, and ASE's that I will hang onto for years to come because I enjoy collecting them, along with other world bullion coins. Then I will invest the rest in bulk silver which I plan to make money off of (about 2/3 of my money on bulk and 1/3 on coins for the collection). This sounds like a solid plan to me!!

 

When silver broke through the $30 barrier a few weeks ago, there were people in my local coin club that were panic stricken. They didn't know whether to sell or buy more. Later when silver dipped to $26 something, there were people in my coin club, again, panic stricken. Same dilemma, sell or buy more? I believe some people get caught up in a roller coaster of emotions regarding this silver thing. A roller coaster of emotions can not be healthy no matter what the subject. I agree with what was said above by a couple of folks. Have a plan, be patient and don't buy more than you can afford to lose.

 

Dollar cost averaging is always good advice when venturing into a new type of investment.

One thing I've avoided are the bags of circulated silver coins that are sold by face value instead of weight. I've seen cases where the price is based on the uncirculated weight of the coins, but you actually receive something less than that.

 

What I'm trying to say is that "all bets are off" in ALL climates. "Buy when prices are low, not when they're at a peak" is market timing, pure and simple, and it's a sucker's game. In my humble and not-particularly-accomplished-at-active-investment opinion, of course.

Waiting for a certain frequent poster to "weigh in" in 3... 2... 1...

 

I was trying to buy all the silver I could afford to 1 and 1/2 to 2 years ago for as close to $10 an ounce as I could get it. Now I have sold a lot of it. IMHO silver is high, I will not buy again anytime soon unless it goes below $15 an ounce. Invest a lot into it now and I hope you are willing to risk the gamble of watching it plummet back down to the teens $10-$15.. and do not let people fool you, it could go right back to between $4 - $8 like it did for a about a decade.

 

Welcome to investing in silver! You need to understand why you are in silver. Do you just like holding a piece of history in your hand (collector), do you think silver is fundamentally undervalued (investor) or do you see economic events forming that will drive it higher (investor). I suppose collectors should buy when they fnd what they are looking for and have the money. An investor must understand why you think its going higher and research the heck out of your assumptions. If your assumption is the price will go to $50 in 2 years because of XYZ then it will not matter so much that you bought at $28-30 just as long as you achieved you objective (I.e. 25% ROI). There are those in this forum who have been buying for years and are mostly invested at <$15 per oz. Most are not committing new money at present levels, some will argue that silver does not have much up side but are still holding. This is confusing so you have to do your homework, hold to your assumptions and be wary of the double speak. There are also some seasoned investors contributing to these forums with great insight so check'm out! Of course silver has risk blah, blah, blah but I do wish you the best of luck!