Silver getting crushed today

Actually you can buy silver and make a "profit".
If you only think of one ounce at a time then it is more difficult.
If you are a person with deeper pockets and a knowledge of trading, then dealing with say 100 or 1,000 oz makes it much easier to make a "profit" even within ONE day.

But PMs will not buy you anything unless it is converted (or bartered, traded etc with someone that knows it's value) to a form of currency that is used to buy loafs of bread.

The nice thing is though, other than inflation, is economies of scale and efficiencies may lower the price of that loaf of bread. For me, and the bread I buy, it's been cheaper today in it's price tag than it was back in 2011, so I can buy more bread. or save the spare bread/change and buy more PMs.

For me . PMs are simply a storage of wealth. At some point in the future it's hopefully worth more than the equivalent $1 of when you bought into it. And it's pretty. It's prettier than that $1 for me so I buy it too with a hopeful knowledge of it maybe being more in the future.

 

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I disagree, some have, and do make money from selling silver. All you need to do that is to sell it for more than you paid. (Including all expenses) remember when silver was near $50 per oz. I guarantee that some sold for huge profits. Patience is key, and there are no guarantees, but there is potential for profit beyond inflation. IMO.

 

Well I bought 16 oz this week at lows, 6 at .99 over spot free ship and 10 @ spot with free ship, The ten was at $15.42 or .38 cant remember but I took advantage of the 10 @ spot deal with JM. SOOOOO boys I will let you know in 10, 15, 20 years If I made a profit or loss, But I can just about guarantee you if its 20 years or Maybe 10, or 15 I will probably not remember where it came from or what I paid. I will say hmmm I wonder where that came from But COOL!!! Or my Kids will squander it if I am not around.
JON

 

Do you log your silver purchases?

 

Nope, always used extra play money to buy and when ever I go to the 3 or 4 big retailers they have all my purchases right in past orders. Heck this winter when I was down for the count and was able to look in safe I was amazed at what I had bought over the years. But I do not use LCS either. all through the big guys and a few through Ebay.

 

I've decided to just buy loaves of bread and put them in my safe for 10 or 15 years. Because, as we know, when zombies rule the land that bread... now penicillin, will be worth more than anything else.

 

I just about spit my ice cold drink on my pc screen reading your post.

 

Penicillin species do not do well on bread, try cantaloupes

 

But do not make wine from them as it is the most terrible wine ever tasted.

 

YES......MOST OF IT......

 

Don't count on it

 

Alright, so now that silver looks to go back over $16.00 who bought at the dip? I bought at $15.57.

 

When you bought and how much you paid is not as important as your overall average cost basis. Mine is still less than the current spot so I am not too bothered about buying a lot know as that will increase my average cost. Sure, I still pick some up as I feel the urge and will continue to do so even as the price rises.

 

My average cost per ounce is $14.56. I just felt like it was a good time to buy. I have other priorities financially but I made an exception because I couldn't resist ASE,s at that price point.

 

I have other priorities. But I nearly bought an ASE tube at $363.

 

Do you add your coin roll hunting in with that average?

 

silver pushing up again

 

Yes, I add my Coin Roll Hunting to my average cost per ounce. It helps out nicely.

 

Ok, that right there ^, is funny!

 

Ugh! I want it to go up. I will be selling soon.