Lock in at 12xFace or Wait til end of Month?

I have a dealer at my coin club selling 90% at 12xFace. He offered this to me now. It is a nice below melt price. He has given me two options. 1) lock in the price right now. 2). Commit to buying but waiting to do so until our coin club meets on March 30th. What would you do? It's only $11.40 face value but it's a good deal now but silver is trending down.

 

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Market timing is an impossible art. Just make your decision based on what you know and don't look back.

 

If your committed for the longterm just take it. If you are quick flipping it I would hold off.

 

+1 except I'd use the word you're vs your.

 

I ended up locking in at 12xFace. I don't think silver will drop too much and with the $1.25 dollar premium I usually have to pay at my LCS it's a great deal.

 

If you were a buyer before at 13 or 14x face, then the decision is obvious.

 

PM pricing is tough. I'm using DCA for my PM purchases. You seem as confident as can be with this purchase. Buy some now, buy some later. The dealer may be dumping in a panic.

 

I'm only getting $11.40 face for $136. Not going to break the bank if melt goes lower.

 

Yep.

 

I'd make the buy at that price. Like you said, it's not a break the bank amount to spend. I don't see silver taking such a plunge that you would end up losing out.

 

At least for today I look like a clairvoyant!

 

12xs on the day you mentioned this is an extremely good buy. My dealer whom I generally think has very good prices on 90% was charging $13.

 

True, and I felt good about it because I usually pay $1.25 over spot for my 90%. So if silver went below 10.75xFace it would have been a bust deal. However, it wasn't looking good for about a week and a half as we kept seeing $.30 drops daily it seemed like.

 

Silver was edging down on anticipation of an interest rate hike, and today it was hiked .25% - silver is up 48c on the hike. A lock on the price might have worked out well for you

 

I just locked in again with the same dealer at 12.3xFace for $11.50 in silver coins. Wonder how many offers under melt he will give me. He seems to be at .3 under melt.

 

As long as they're not heavily worn barber quarters, or the like, i buy under melt every chance I can.

 

gee whiz, I bought under melt and then spot dropped 3 bucks. I'm a genius.

 

12x is a good price. Santinidollar hit the nail on the head. Commit to a decision and stand by it. Day to day spot becomes irrelevant, and it will only drive you crazy. Do you think at 12x face it is over valued, or under? Personally, I think it is undervalued (based purely on opinion ) and have bought decent amounts of 90% silver at that price.

 

I'm getting about 16 ouncs of silver for below melt. I pay a $1.25 premium for 90 usually so silver would have to drop a lot for it to be a bust. I am happy about my decisons that I have locked in with this dealer from my coin club. Funny thing is I won't do the two transactions until the 30th of this month. He's a long standing member of the club so I have nothing to worry about.