Silver down...are you up???

beat! I continue to buy as I believe silver will get to 50+ again:hail:

 

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I’d love to see it crash back to $6/oz, as I have very little non collectable silver – that way more of what I want would be more affordable.

And, add gold to that. Think of it, affordable gold coins (@$400/oz)!

Add to that, very little downside at those prices.

 

I want it back to $1 my ase 2 coin set would be worth 5$

 

Buy buy buy

 

I’d love to buy, but who has silver at a reasonable markup? The prices for physical are still way too high – may take some time at lower spot for prices to fall.

 

Fortunately I am very close to a coin dealer and we purchased rolls of maples and eagles from individuals that aren't patient.

 

My 2 LCS's have no ASE's for sale - looks like they're holding onto them, hoping for silver to go up. They were selling them for spot +4, I wouldn't mind finding some 2013's for that.

 

Maples have come down quicker than eagles, you may want to look there.

 

That's a good idea, if you're a stacker, but I'm almost exclusively a US collector and the US has more than I can keep up with these days.

 

I'm right there with you on us coins. Bullion is different for me, silver is silver plus the maples are 5 dollar value in Canada

 

To me it is exciting times!

Fiji Takus and 5 oz ATBs have been availble at very low markups. I stocked up yesterday during the dip.

I've been looking for a while for some 1/2 oz bullion coins but everything has been more than $20 which is way too much premium for me. The 1/2 oz Takus were going for around $15 during the dip.

 

How about all those dealers that put their money in bullion sales and let the collector business fend for itself? Their money is locked-up in expensive gold and silver bullion and they have no way to get cash to buy inventory on collector pieces. Will they be able to obtain loans and use their bullion as collateral? If so, wouldn't the whole loan would have to be paid back before the bank would release it. Could they react to a market surge if it happened? Seems like they are in a bad position.

 

I like silver, I buy silver, if the price goes down, I buy more silver and if the price goes up I still buy more silver. The type or form the silver is in might change depending on the environment and pricing conditions. Sometimes I sell silver, whether the price is going down or up, again, market environment dictates what I'm selling and why.

 

It seems to do it every 30 years or so.

 

I am still buying, but maybe it's out of habit now. I started at $5 an ounce and these prices still don't seem too bad. I got some "junk silver" at 16 x face the other day. That's the cheapest I've see for a while.

 

I totally agree with you, mark up barely justifies buying i did, actually a couple of weeks ago,,still too high in markup

 

Let's say silver drops to $5 and gold to $400. I'll bet a buffalo nickel the premiums will be $18 for silver and $1,000 for gold!

Seriously though, what's the highest average premiums you have seen? Mine would be around $7 for ASEs during the last run on silver.

 

The margins will drop as soon as buyers start to believe that the lower spot prices aren't going anywhere for a while. When buyers quit "backing up the truck" to buy silver and gold before prices go back up, demand with stabilize at lower levels and margins will drop as competition overtakes greed. The laws of supply and demand works in both directions.

 

I just picked up 5 eagles yesterday and today,

silver was at 22.35ish.

I paid spot for a 1994, $28 for a 1991 and 2013, 35 for a 1999, which was colored obverse, and 25 for a 1997.

Never seen them online that cheap without shipping being 5+. Im happy, my collection will soon be complete.

Also bought some halves, quarters, and dimes at spot.

 

Started stacking in February, so Yes!!! I am down. However, since I keep buying, my dollar cost is going down too. =D But there is only so far it can go down with premiums staying so high. At this point I buy 90% which seems to demand a little less premium up here in Canada. Maples and ASE are also reasonable up here too. I have definitely stopped buying Kooks at $35 bux because that's what they cost me when spot was $30 a few months back.