Silver is dropping

Silver dollars are always a numismatic item really. They always have been. Just way too much demand for them to sell as "junk".

Your comment about dealers saying 'they have too much in them" is very common. They don't account how they lost it the day it went down, not the day they sell it. I always found it funny, though, how if they buy for $25 and the market goes to $32 they won't sell to YOU based on a $25 market. Basically the net net of their logic is profit is theirs, and losses are yours. Don't let them. Don't get suckered, don't feel bad for them, and buy from the person willing to sell it to you at the lowest price PERIOD.

Like I said, these are the times a guy REALLY needs to do his research, and not just buy what's easiest.

 

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Whats this diversification you speak of???

J/k. As my screen name implies, I am an advocate for being diversified. The more the better. I would rather be upset that I didn't have more money in X that sky rockets, then to be upset that I had to much money in X that tanked.

 

down almost $2 since last night

 

90% of my investments are for long term. 10% is for the quick in and out gamble. My silver is for long term. Yes, I will keep tabs on my long term investments to insure that I don't miss something big and loose the chance to control my losses, but movement is expected. Add to that the PM's are even more volatile then most investments. I would not get all stressed over the downward trend of Pm's. And if you only have a small portion of your investments tied up in PM's, even more reason not to worry. I have roughly 5% of my 90% long term retirement money tied up in Pm's. That number is equally split between Silver and Gold.

 

"I have more than that into it" is my most hated phrase of the English language.

Medoraman hit the nail on the head. When silver prices went up, how many coin dealers offered their silver eagles for their standard $3 over their cost? But when the price goes down their cost is all of a sudden relevant to their asking price.

If they are low on stock, or aren't displaying their stock hoping for the price to go back up, don't worry about it. I'm sure they were busy in San Francisco and West Point minting thousands of coins today. Those will be sold to apmex, provident, and the like based on the current spot price. So prices will come down across the board. Just be patient.

 

25.88 per troy oz

 

In stock market terms it's called a "trailing stop loss" order. In theory you buy a stock, let's say at $100. The stock goes up to $120. Now you set a trailing stop loss order at $5 under the high point. That means at $120 your sell order will trigger at $115. But if the stock goes up to $140, now your sell order will trigger at $135. That way you ride the wave up and cut your losses on the way down.

Sounds like bullion dealers aren't doing that...

 

$23.56....had to get in a quick buy this AM. Don't tell the wife.

 

Is the bay the only option one has to buy silver at spot or current price....beside craiglist and no coin shops close or pawn shops any other site you can purchase silver at close to current price????????? Over ..............

 

FeeBay always seems very slow to react to price drops. Either because sellers don't want to lose money so they list them higher than spot, or because buyers place bids in advance.

I ordered a bunch of silver from Provident this morning. They're pretty much sold out of ASE's, but they do have foreign bullion like Maples. I'm sure APMEX is about the same.

 

Memo to my self , Don`t bid on junk silver lots on ebay 3 days in advance . ​

You were so right my friend , I had bid 22 x face value and I got outbid on every lot at 23 x & 24 x face :hail:

 

Wow! I wonder if they saying "Note to self, don't bid on junk silver lots 5 days in advance." :too-funny:

 

I wonder how many of them will fail to come through on their bids?

I'm sore because I won a lot of 19 Peace dollars Friday, and didn't realize that I'd be hit up separately for sales tax. There are a couple of promising candidates in the lot, but I'm going to have to be really lucky to come out ahead on this one. :/

 

Meh... Just tell yourself you bought them a month ago and got an awesome price!

 

These auctions ended sat night and sunday morning .People were sniping with seconds left at 23 x face

 

ouch.....

 

I knowed this here 6 grade edukation wood payoff

 

I'm far from an expert, but found this article an interesting read. Here's a link:

http://www.thestreet.com/story/11895315/1/why-gold-is-crashing.html

Here's the quote that summarizes most of the 4 page article, emphasis added is mine:

Suspect the same could be said for silver ETFs.

 

I agree. I have wondered out loud many times the extra volatility being added to PM by these non-traditional investors. I never have nor will I ever own such an instrument. I am a physical holder of the metal, with multi decade outlooks. I seriously doubt ETF owners are the same, and that adds volatility. Its great when this volatility is working FOR you, not so pleasant when its going the other way.

Best thing about it is this will come again, with ETF's in place we will have another huge spike upwards at some point. Key is to slowly build up a position to take advantage of the next spike. I hope PM stays low for quite a while to allow members here to build up enough stock.

 

$23.46 as of 9:19 PST