i bought sum 1 oz American Silver Eagles today . Do u think it was a good thing or a bad thing that i bought because it was so high ?
Just under $38.19 per oz. $5.59 premium. A pretty fair price for eagles with the spot at $32.60. $5.59 premium. Remember that you'll get less than spot when you sell.
Depends on who you sell to. Many places pay right around spot or slight premimums for recognized bullion coins. As far as when to buy who knows. I thought I might be overpaying for gold when I bought it at $1095, wish I had bought more. Look at what Palladium has done in a year. It has doubled. Wish I had put all my money on that one and not worried so much about the other metals. I think silver can go up for quite a while. People that advise you to sell or not to buy probably bought when prices were low. I remember buying ASE's for $7 a piece. Someone who has a low basis can make a hefty profit even if prices fall from here.
I sold 3 SAEs on Friday for three times what I originally paid for them so I'm happy. But who knows, silver may very well be headed up to $50/Oz. Just remember, if you sell silver now, reinvest it right away in something else that looks like a better buy at this moment in time. Oh, and don't sell all of it just in case it never falls back to a reasonable price. You don't want to be left out on the sideline.
Each to their own. I'm using this as a excuse to thin out my "bullion" grade halves saved from way back when. Then using proceeds to fill some gaps with higher grade replacements. I'm guessing that the Big Meltdown of older circulated silver will increase the later value of better coins. But What do I know? I just set coins aside acquired at face 50 yrs ago. And now I feel like letting some of them finally go for a few trophy~wife replacements.
