PM's in a nose dive today

The ebay sellers are defenitely not representing the price drop!!! I was able to pick up a roll of halves yesterday for a little over 200 though. I am going tomorrow to get some more. I hope it drops another 1.00 !!!

 

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I would buy into the 50's and 60's as well, its just a matter of WHEN it would be 50 or 60. If next year, I am selling at that price. If in 8 or ten years, that will be considered a reasonable price. Point is, everyone will nominally probably make money on PM, since its a commodity and in an inflationary environment will go up over time. Many people brag about "making money" in commodities, but never consider if they could have done better over that period in other investments. In the last 3 years yes everyone has done well. Recognize, though, we are no longer in an $8 an ounce market where almost all possible price changes are upside possibility. Its high enough now that there is a risk of further declines.

 

My positions are negative for sure right now, but I want to see this dip drive low, low, low. I've slowed the purchases lately, but may increase my rate again if we see $25 silver closes. The long term buy/hold view is looking good from here.


One loss is another gain. Make my PM cheap (while I buy more up) and my dollar will be rising. I like this game so far...

 

if you dont mind me asking what did you pay for the 5 2011??

 

Anyone here think this is another one of those mid week fades, miraculously back @ $30/oz silver for the weekend buyers?

 

Nope :goof:

 

This could be the major reason for the fall -- the market makers pulling their bids as the hedge funds and technical trading funds liquidate their long positions to exit the futures market because of MF Global. It remains to be seen whether this drop will end when the selling dries up, or if the lower volume will just make it easier to hold down the price. Someday, I expect the physical market to overrun the paper market, but someday could be a long time from now.

 

I wish I could find a place to buy silver

 

I'm picking up $500 worth tomorrow.

 

Buy from me

 

Hey there, Paid 150.45 total, spot was 27.09 when purchased. The place I buy silver at sells the ASE's for $3 per oz. over spot. Best I have found in my area so far.

 

providentmetals.com seems to be a good place. That's where I'll be buying from within the next day or two.

 

IMO, the paper price for PMs is becoming irrelevant if one is a buyer of physical PMs. I notice that for physical, the average price to acquire a ASE or AGE is $31.00 & $1660 respectively. This figure does not include shipping or credit card charges. This compares to $26.96 & $1553 as I type this. This is quite a divergence and an indication that physical markets are starting to diverge from the paper PM market. When you can sell a 1 ounce coin to a retail vendor for higher than spot then you have a sure sign of it.

Keep in mind there is potentially an unlimited amount of paper gold and silver out there. The people in charge of maintaining this system and keeping it honest for the small guy are the same crooks and liars that maintain the the rest of the US Finance Industry. You be the judge of that.

On the other hand, there is a relatively fixed amount of gold and silver out there. So if you want to know the real price of PMs, look at the 1 ounce price for American Gold Eagles and American Silver Eagles. It's quite a telling tale.

 

Can someone recommend a site with low premiums on 10 oz bars? I would like to buy a couple in this dip and they are always overpriced locally and on the bay.

 

26.88 !!!! Time to buy !!! im loading up today and tomorrow!!!

 

I think there is panic selling now, as the market seems in a free fall.
Gold will go to $1200 and silver to around $15 - remember - you heard it here 1st

 

$26.16 this morning. I think I hear some back up beepers out there.

 

Yeah, I picked up an ASE yesterday from there. Was going to buy more but figured I'd wait and see how far this is going to drop as you can literally refresh the page there to get the new price depending on the price currently on the market. I think their's is $2.70 over spot price.

 

I'm sticking with my position of shorting paper gold, and loading up on physical silver.

 

how much you gonna buy today ^^^? JCB?