Silver getting crushed today

I have a complete collection of Proof and BU ASE's for every year, and in many instances multiples for each year. I just like collecting them but they do carry a high premium over spot. I also like Maples and some other silver Canadians. Good discussion.

 

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on Provident they have a "Buy Back price" which he may be referring to.
So if you buy an ASE for $18 they immediate Buy Back price could be $16.30.
I've bought some ASEs, just to have the price go up and the buy back price *above* my purchase price a few times before they shipped them out. Of course I kept them anyways.

But if you just sell your ASEs to a LCS they may just give you spot for them. If you read what the dealers do here they mostly give people spot for them.

It's like anything else. You have to know *where* the market is to buy/sell something to get the best deal in a buying/selling scenario.

Also, my CU used my ASE collection as part of my asset list in order to approve for a loan. They will *not* do it for misc silver rounds as they know ASEs and not all the misc silver rounds out there. ASEs are a US government guarantee value. Misc silver rounds are not a guarantee of anything. Your better off just buying bars than all those misc rounds.

Also is silver stays steady for the rest of your life you may break even. Or you may make money depending upon the demand for certain year ASEs. Or if silver drops .. you may loose money. PMs are just that a storage of wealth. It's a hard investment as you've found out the price fluctuates a lot up and down and not by much and you can lose money dependent upon everything .. or make money.

 

Yes Providents buy back price is what I was referring to. So what keep stacking ten ounce bars or just buy like 6 ase's at a time on sale and low spot? OR should I take what I have now and use the oxy acetylene torch and make them all into kilo's

 

I kinda like the kilo idea.

 

http://www.apmex.com/category/25660/kilo-32-15-oz-silver-bars

Or, if you need a doorstop for a bigger door you can use:
http://www.apmex.com/category/25680/1-000-oz-silver-bars

 

There is so much to the answer here ignoring future value that it's like beating a dead horse (see the dead horse thread) ==> https://www.cointalk.com/threads/the-case-to-be-made-for-gold-vs-silver.299858/

If *you* like ASEs then continue to buy ASEs. But just wait for the actual price to drop (not spot, selling price does not necessarily drop if spot drops, so you have to be aware of that). If you like the specific designs on specific rounds then buy those.
If you like bars, then buy those.

For me, I put an economic twist to it as it impact my investment portfolio. I do own a few non-ASEs but not much. I like the ASEs; I haven't found a round that I like.
bars? nah, not those either.
I like "coinage" that has UNITED STATES on it. So my preference is ASE, AGEs, pre-33s and all other other copper, silver and gold coinage out there.
But also keep in mind I think PMs is simply a storage or wealth. I could keep the cash but I like the shiny metal stuff too. So I *convert* cash (which is spendable) to a non-spendable items in PMs. maybe in the future PMs will increase in price where I think I'll sell them, which would make a profit vs in cash. But then I'll have more cash then when I started. Maybe I won't.

But it goes back to what *you* like to collect. Don't just buy because you have a silver bug ...

I have my total ASE collection now, and the silver bug has kinda worn off. So we'll see what I do in the future. I'd like to collect some gold $2.50 and $5.00 President coins but that needs more available $$$ than neat looking old silver commem coins.

 

interesting reading
==> https://www.bloomberg.com/news/arti...wing-hedge-funds-losing-precious-metals-faith

and gold is #4 in redemptions in this list ==> http://www.etf.com/etfanalytics/etf-fund-flows-tool

 

up, up and away ...

 

I guess its not a silver bug for me or maybe it is? I have been collecting silver since the 1960's And have never sold an ounce even with the 2 big price jumps. And I have never bought with family funds just play money that could have been spent on things that would have been gone in an hour ,days well you know. Back in the 60's and 70's it was gifts from my grandmother for holidays and coins well I have just loved the heck out of any kind of silver coinage since I buried my first half dollar in one of grandpa's old tobacco pouches when I was about 6,

I have never really kept up on what newer coins or ASE's and such just manly CRH and I did a lot of bank and store searches for old coins before Youtube came around and pretty much ruined that.
Now I only buy if spot is below $16 and usually only 6 or so ounces a year. My B day is right before xmas so any cash I accumulate goes to a pre order of one Maple leaf, 1 ASE's, and 1 panda, and generic rounds to make free ship. Oh BTW there is no since in trying to save green backs around here. I am sure when I pass there will be holes dug on this farm from the son in law looking where I buried the stash,
Just wondering if say when I purchase generics to make free ship if I should not just put ASE's in my cart instead? And 2 fri's ago well Prov had the generic deal 90 what ever over spot on the uncle sam's so that what I bought and JM I had no choice it was there pic to get.
JON

 

and it keeps going ...

 

Just wondering if anyone has ever thought of a silver co op ? Or would trust be an issue? I mean like if 5 rolls of ASE's were bought from provident you could save $5.00 a roll. what's that a .25 a piece but money in pocket anyways.
JON

 

Hmmm I kinda like this.

 

until the market crashes or something.
Then I'm sure someone would complain and not want to lose $$

All warm and fuzzy if steady or upwards valuations but
sounds like a potential nightmare on downward valuations. How to sell, when, at what price, etc etc etc.

 

It's Alive I tell you ..

 

I managed to guess well this time and bought a bit very near the bottom early on the 10th. I was in the UK at the time so it was during the day, but like 2am back home. Already made back the premium and then some.

 

Welp it looks I have paid for most of the 2 weeks ago silver purchases, Or Maybe a ten ounce er . I have an older car here sitting in weeds that the daughter left here about 5 years ago, And had a guy offer me about $180.00 for scrap metal on it. Have to see if he shows tonight I love free money!

OR, I see JM has quarter eagle's on sale xf for $250.00 I own no gold coins . Is that a deal?
JON

 

Gold does it again. Drops until it looks like $1200 will be breached, then has a good rally.

 

Oh silly boy, don't you know the whole PM market is being artificially held down by market manipulators? I read it here somewhere. Patrick Heller said so. Former Congressmen from coastal Texas said so. Actor William DeVane said so. Half the ads on Fox News say so. Heck, even Pat Boone says so. That means one of two things is true. 1) All these jokers will say literally ANYTHING if you pay them enough, or 2) They're just as wacky as the day is long. Pick one. You can't lose.

Here's a hint. Call up the 5-year chart for either silver OR gold, better yet a 6-YEAR, then 'splain to me why they can "only go up". They kept "printing fiat dollars" the whole time, and STILL metals went DOWN, DOWN, DOWN.

One guy breathlessly says, "I believe silver is going over $200!" Yeah? Well I believe the Commonwealth of Pennsylvania is going to abolish its government and appoint me King. Both are equally likely.

 

The logical explanation (if you're a chartist, which I'm not) is that gold has strong support at $1200 to $1210 and strong resistance starting around $1290. I prefer that, though, over William Devane (who ran out of opportunities to play Robert Kennedy) and Bat Poone, who needs to paint a red stripe around his neck and get a job as a bowling pin.

 

Bill Devane ran out of his last shred of relevance decades ago, okay? Ditto Pat Boone. Congratulations on NOT being a chartist. That makes you smarter than the VAST MAJORITY of people who get paid to give advice. Gawd forbid that someone might actually look into the market's fundamentals, if such a thing still exists in PM's.