Is anyone buying silver at $44.56

Stopped buying several months ago. Don't have any room to store more and I'm not renting anymore safe deposit boxes for a while. Still bullish on PM but believe we're in uncharted territory.
Almost forgot - bought some ASes at the Whitman show and have some on order and will receive 1/4 oz gold Medal of Honor coin in a couple of weeks.

 

Log in or Sign up to hide this ad.

Haven't bought since before $20, wish I had, but not sure, probably shouldn't have. The FUD factor is in control -- Fear, Uncertainty, and Doubt.

Besides, my holdings, by cautious design, aren't large enough to either make me rich on the upswing or kill me on the downswing. I want to keep it interesting and fun, while not getting in so deep that it keeps me awake at night.

If there is a significant correction any time soon, I'll probably jump back in on the assumption that higher prices are probable and sustainable in the long run. I don't think its smart to buy in the current market (but I also thought that at $20).

 

I'm still buying at $33 OzT. (Yes, I know it looks stupid, but I have a contract for delivery... but I can only take delivery of 10 ounces a week... don't ask. It made sense when silver was $32 OzT.)

 

Yes, I'm still buying. In the two days since this thread started, it's gone up another two dollars. Wait until the herd gets involved. It could go up at an even steeper rate. We're probably a few days away from the lamestream media trumpeting about "Silver breaking it's all time high set over 30 years ago!!" What effect do you think that will have on the spot price?

 

I need silver to go down, I own about 45 ounces of silver, I would like to own another 200 ounces but wont be paying $50 an ounce for it so I will have to wait to buy it when silver falls to $20. When silver hits $55 an ounce I am going to sell 12 ounces of rounds and stash away my profits for when silver is lower

 

In 1980 silver was at 50$ per oz. With inflation that would be about 130$ oz. in todays money. So why wouldn't silver keep going up it is not even half way too the high of 1980?????

 

I am still buying silver but I am concentrating on buying very rare '70's 1-oz silver art bars.

 

I've never seen so much silver coinage for sale on the 'bay before.... lot's of folks are dumping silver there and a lot under spot price, but not enough under spot for me to buy.

Buy the stuff in "bust" not "bubble". I like real estate, or landed stocks that are still relatively depressed (or at least near historical means),, odd to say that, but after all the bubbles most stuff busts only to hit levels that historical norms.... very very hard to find assests that fall below that anymore.

 

FINALLY! Some real scare tactics.

eBay can be a place to find deals, but I just looked at generic 100 one oz rounds and didn't see anything selling under spot. Almost all of the recently completed 100 American Silver Eagle auctions sold for over $5K and nothing has sold under spot. Does anyone have any experience with fakes on eBay?

Hold your physical. Don't be scared by the INEVITABLE selloff coming after the recent run up. As the Silver price rises to it's true value, more and more people will try to scare you out of your position. Stay the course.

 

That is a great and valid point that not many people take into consideration. Add to that, slvers peak in the 80's was driven by several very different factors then we are facing with todays market including the Hunt brothers attempt at cornering the worlds silver supply.

Not to mention we are only about $2 from a new all time high for silver which will trigger a sell off but I think it will blow through it all time high within the next week or two.

 

I have to admit...I'm starting to get a bit nervous over my "Why No $50 Silver" prediction. :foot-mouth:

I still believe that "industrial use" supply/demand fundamentals don't support $50 silver. Once confidence returns and interest rates begin to rise due to a strengthing economy, folks will look for other places to put their money.

The good news for Silver Bugs is that we're entering another Presidential election cycle and there should be pressure to maintain currently loose monetary policies.

Maybe $44.56/Oz will seem like a real deal in a few months...we'll see.

EDIT: About a month ago, I was banging the drum for folks to load up on 2010 Silver Proof sets before the price increase. At that time, you could buy a set for $56.95.

With silver now at $46.70/Oz, that set NOW has a silver/face value of $67.55/set...a WHOPPING 15% return on your investment!!! ...in just one (1) month!

Nobody listens to Yakpoo...:so-sad:

(Shhhh!...don't mention that they only have sales of 561,472...which are suspended pending another price increase. :secret

 

I have been buying and selling, I have been selling common circulated roosies and picking up things that are starting to appear in the junque silver, like Barber halves, dimes, and some commems, I got another couple columbian halves, some booker carver halves, some proof coins, Back when I was buying private mint rounds, I was paying about 12 each, It would take 10 of them to pick up a 100 dollar coin, now I can take five of them and pick up a 200 dollar coin.

 

lol

 

+1

Great way to look at it.

 

I pulled out a grey sheet from last year and common morgans have doubled from $17 to $34 but the key's have stayed the same or dropped.

Take a 93s in vg went from 2,750 to 2,350 now. So before it took 161 commons to but it. But now it would cost only 69! If this keeps up I might be getting my key

 

Do not feel too bad Yakpoo. I made a gut feeling prediction that silver will NOT hit $50 in 2011. I still stand by my gut feeling prediction because I think that I will be right. I just do not think that silver will hit $50 at all in 2011. The silver price might go up a little further to about $48 (maybe $49) before it gets brutally smacked down back into the lows that we saw earlier this year (or lower).

 

>The good news for Silver Bugs is that we're entering another Presidential election cycle and there should be pressure to maintain currently loose monetary policies<

I'd rather the Government roll out a monetary policy that does not encourage inflation and weakening of the dollar then make a few more bucks on PM.

 

i've been buying $200 a month in silver coin since 1999 and will continue until 2015 when I can retire or before if I die early... Going for the long position.....

 

I purchased a roll of barber halves a while back all G-VG for $10 a coin, then bought an incomplete set of barber halves (43 coins) G-F for $13.25 a coin and it included an 1915 in F. I've been dumping roosevelts and washingtons to get barbers and anything older my dealer gets as junk. rescued quite a bit before I deployed again, now I have the wife dropping by the shop and either selling or trading straight up for anything barber or older. My dealer doesn't care, to him silver is silver it doesn't matter what he scraps or puts in $1000 bags of 90%. There has to be an end to it though, once it hits $55-60 I may start selling as most of my silver was acquired before silver prices were in the double digits.

 

Not tryting to scare anyone.. lol. Just saying:
1 - there's a ton of "folks" selling silver on the 'bay.
2 - most of what I see going under spot it "coinage", not rounds or physical silver bullion being offered by silver dealers (that stuff is mostly going for spot or above, which is usual).
3 - I like to buy stuff when slope on the line chart is going down, or flat,,,, not dramatically up.

Finally, as a final point. I consider this forum a place to discuss "ideas" and have a bit of fun with that. IMO, if anyone acts with thier investment money based specifically on what bahabully says, or buster* says, or anyone else says in a virtual space, then they are foolish. Take the "ideas" as potential starting points only, and then do you own research.