Who made out on the dip?

I am pretty happy that I purchased my first ounce of platinum at almost the absolute bottom of the dip. Anyone else make a big purchase they are in the positive on now? Brag here (until prices drop again and we feel silly).

 

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Probably going to sell some of my bad condition 2014 Horse Privy British Silver Britannia and make out like a bandit.

Folks on ebay don't care about nothing...NOTHING I SAY..they buy everything.

 

I did real Good! Better than expected. I Sold a bunch of gold coins and quite a few silver coins.

 

you "made out" by selling on the dip?

 

Yeah, the price of PM's dropped, it brought out buyers, I was able to unload some coins.

 

so you've been sitting on this stuff for 5-6 years and didn't sell at the high point of 40 dollars for silver, 1900 gold.

 

No just a few months. coins not bullion

 

I scooped up some silver last weekend when silver was sitting in the ditch. Not quite even on it, but covered about half my markup and shipping. It's not even here yet.

 

The Dip

 

Bought 280 ounces of silver below $20 so far in the last few months. Hope to get some more. Lowest price paid was 100 ounces at $18.37.

Only been collecting for a year, so never had opportunity to accumulate pre 2011 prices.

 

I bought one of @bkozak33 's gold coins. I was as happy to buy it as he was to sell it. Should be in the mailbox today.

 

My point is gold dropped, and a bunch of people decided to pull the trigger. Now gold has recovered a bit and people aren't buying. I have the same gold for sale at spot, but there is little interest. I had a couple graded francs on ebay for months, with no interest, gold dropped, and they all sold. I diddnt lower the price, they went for full retail.

 

ok, but what price did you buy it at?

 

On ebay Cheaper than i sold them. The ones i sold here for spot i broke even. I can only keep so much inventory.

 

Id have to check i may have made money on the others as well

 

I guess that's what I did. Landed a $515 BIN with 12 Morgans, 6 Peace, and 12 ounces (including an ASE, Maples, Philharmonics, and an assortment of other mostly-bigger-name issues), and a lower-grade/cull lot of 7 Peace and 2 Morgans for $114 BIN shipped.

If this is a bottom or new normal, I'm great; if silver continues down to $12, well, I'm still better off than if I'd bought at prevailing rates. I'm no better at "catching the falling knife" than anybody else, but this definitely doesn't feel like time to sell, and is feeling more and more like time to buy.

 

I'm in full agreement with bkozak.....it is time to buy, which I have! Though, I'm CERTAIN there is at least ONE member who'll argue this point, and try to explain why it's time to sell.

 

There are times I feel bummed about prices dropping and what I've got buried in the back yard bought at higher prices. That seems to go away when I get a new tube of pretty rounds and it was even cheaper than the last. I'm still dragging down my average from my hysteria buys when it was above $40. Thankfully, every month those purchases are being offset by far more being bought at $22 and lower, and the last bit under $19.

I just checked my history. Less than 1/6th of mine was bought at an average of $39. Total breakeven on the entire portfolio is $28.80. I'll keep chipping away at it.

 

I'm happy that the only silver I bought over $30/ozT is one 2011 Panda, because I had an ex-girlfriend who thought it was cute. Most of my purchases have been made at under the $25oz Ag, $1330 Au mark.
I don't buy silver and gold as an 'investment strategy', I just do it for fun. I have no pretenses that it will perform well, or even be profitable in the long run. Its just a little hobby of accumulation. It's also tempting because I'm around the stuff all day.
That being said, it's still fun for me to try to get bullion as cheaply as possible. I really don't even buy enough metals to 'make out' on any kind of dip. The markets would really have to perform for me to realize any appreciable gain.

 

Gee, wonder who the devil that could be. Some sort of fake 'rapper'?