Hey guys, Is it time to stock up on silver again like a year ago? I've watched silver drop nearly 25% the past two days( not the best feeling when ya already own some silver). I was going to go by my local coin dealer today anyways, but since silver has taken a skydive, I think I'm going to buy a sliver eagle or two, and if it drops some more, I'll definatly be stocking up on it. Whats you input on it? Also, What has driven the skydive this week?
Yes, now is the time to stock up. I picked up another 100 ounces this morning, and am considering buying more. I think silver could fall as low as $26, and if that is the case then I will really be stocking up =) There are several reasons for the sudden decline... however, I attribute the CME margin hikes on gold and silver to be the main reason. These margin hikes basically force people to liquidate... so silver is more available. The more available or less the demand, the lower the prices. Historically, these margin hikes only cause a temporary fluctuation on the price, so silver will eventually go back up. I had to drive to two different stores get all of my 100 1 oz coins today, and I bought both of the stores out. When silver and gold stores are running out of 1 oz coins, that should tell you something... buy =) Also, a side note... if you are going to buy silver, I would stay away from any bar bigger than 10 oz. My narcissism wants me to have a bar of silver the size of my kitten, but my whits tell me otherwise. The reason is because if you have a 100 oz bar, then picking a time to sell it can be very tricky... once it's gone, it's gone... so you want to make sure you get the best price for your bar. However, with 100 coins, you can make 100 separate sales, so price fluctuations won't make you as anxious. Hope this helps! I signed up on this site just to answer your post... you will probably never see me again =) - Vanna
I was just wondering the same thing.....I am thinking though that if silver does not drop to the $20-$25 range, I will just wait till the coin show by me in several weeks to buy.
I had planned to sell all my silver and then the value started dropping. Wish I'd acted faster. Anyone have a guess on when we can start to see an increase?
Thanks, I like your optimism. I've got about 60 oz. that I'm hoping to sell, so I'm really hoping it goes back up soon.
people are not going to sell their silver. they might lie to themself saying its an investment, but in reality its a security blanket. when they die their wife will take it to the dealer and sell it, not having the slightest idea what it worth
But the point is the same sir, silver WILL be sold. My only opinion on whether to buy silver would be to tell everyone to remember what it was priced yesterday has no bearing on today or tomorrow. Humans get so hung up on numbers, and their belief that if it was $40 a week ago it HAS to go back to $40. No it doesn't, and the fact that it was recently $40 does not PROVE it will be $40 again this year. Yes, in an inflationary environment eventually all commodities will rise in price, but it doesn't mean it may not take 30 years like the last time, in which case you have lost a lot holding it. I am just saying all small investors always assume the price last month was the right price, and if its lower believe it HAS to go back to that price. Read more, and form your own opinion as to the true value of any investment, and if its below that now, buy, if above, sell. Chris
I only trust my coin silverAs long as you buy a good coin that has good value it will only go up not down with the market.My dad use to say a fool and his money is surely someday to pay.
Silver's value is a bit low and I guess it is a good time to stock up on silver before its value rises again. That should be the time to sell it. Robert Grant New Mexico Gold Buyers
I loaded up good! I got the end all - be all - of mega hordes last week! 5 Maples LOL and that HURT! 150 bucks. I got no money to drop on 500ozs? I have a mortgage, and no credit cards...
