Next step silver - over $20.00

Down the DOG goes.................

$18.53 (down 0.23) as of 5:16 AM U.S. Eastern Standard Time.

 

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CURRENTLY: In EU/UK markets...

GOLD: $1,239.40
Silver: $18.66

Platinum: $1554
Palladium: $470

US Market opens in about an hour and a half...
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I'm not one to babysit the price of silver daily. Unless you're a day trader what good does it do to run your mind in crazy dips and peaks?
If I plan to go to a coin show [buying] I'll check the Friday closing price.
Or if I want to sell some I will consult the price.
To sit on the edge of your chair checking the price minute by minute is just plain silly.

 

Yes, it's plain silly to sit and watch intraday pricing for many, however, the good it does for an active buyer of physical bullion, especially when buying from (online) dealers who price according to moment to moment market price fluctuations, ensures orders are placed at the appropriate time during a dip to attempt to maximize the lowest buy price on that day. It can mean paying .20¢, .50¢, a $1 or more less per ounce depending on what's happening at the moment.

You may not have the luxury of getting moment to moment pricing while at a coin show, but after all, this isn't a forum about coins and coin shows, but rather Bullion Investing. Not quite as many bullion investors are doing their trading at coin shows and hauling away bars and tubes of bullion coins, nor are a disproportionate number of table dealers bringing bullion to shows. Certainly those products may be available at shows but it more satisfies the individual investor who is also a numismatic collector and interested in some eagles and art rounds, a small bar here and there. I'd be curious to see what premiums on bullion are from dealers at a show, probably even higher than what you could pay from a bullion dealer for a few reasons, not just what you perceive as some sort of vanity of investors who mind the markets when in play.

 

CURRENTLY: In EU/UK markets...

GOLD: $1,236.90
Silver: $18.58

Platinum: $1553
Palladium: $469

US Market opens in about 45 minutes...​

 

The spot gold and spot silver price movements will not matter for me as a collector and the reasons that I say that because:

1.) I do not time the market. Since I am collector, I buy silver art whenever I have any money left over after paying bills. It does not matter where spot silver is at that time that I am able to buy silver art bars. I do not worry about that.

2.) Premiums: Sure silver could fall from $18.00 to $15.00 in a short period of time but if premiums do not fall along with spot price, then a falling spot price is totally useless IMO. The premium that I pay for silver is what matters. I concentrate more on what premium over spot silver that I pay for a silver art bar and I want to pay the lowest premium over spot silver when I buy a silver art bar. Sometimes I succeed and sometimes I fail in that effort but in the end I am happy to buy the silver art bar that I want.

Conclusion: I do watch the spot silver (and spot gold) price on a daily basis and I read gold and silver related articles but daily spot price movements do not influence my silver art bar buying purchases. I just concentrate on the premium that I pay for them. I just have fun making gut feeling predictions on where spot gold and spot silver will finish at the end of the year and I will admit that I do sometimes enjoy the big movements in gold and silver. For some reason I get a "rush" at seeing gold and silver make big moves (up or down). I guess I am just crazy.

 

CURRENTLY: In the US Market at the opening...

GOLD: $1,235.40
Silver: $18.66

Platinum: $1551
Palladium: $467​

 

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All the shows I attend are on Sunday morning. Where do you get minute by minute spot prices on a Sunday morning? Isn't the price whatever it closed at Friday?
Some of the best deals on bullion are found at coin shows. Besides the good price you take the coin/bars home with you the same day. No shipping cost and no waiting for the mailman.
Pricing is competitive and you can bargain with most dealers.
Even if you *could* find better prices online [and I'm not saying you can] you still have to pay shipping and wait for delivery.
Just my opinion mind ya but I prefer coin shows to ANY online dealers.
This is from years of buying both ways.

 

Excellent advice. :smile I might add that one should be aware of what shipping might be too, unless of course you're buying locally.

 

So as an investor who buys bullion at coin shows, how often do you cart home 100 oz. bars? or significant quantities of bullion coins you pick up at the shows doing your investing? Are you an investor or a coin collector who picks up a few bullion pieces at the coin show at a decent price? There is a risk inherent in hauling your investment home from the coin show whereas taking delivery at ones P.O. Box or place of business is not as high of a risk getting possession of the bullion for a delivery fee, which an investor will have factored into the cost of the PMs they've purchased for investment.

So you save a bit on shipping buying a few rounds at the show, and undoubtedly for a few ounces you probably bought them at the best venue for the price, but what do you spend on security in the previous risk of hauling a sizeable investment back to your home safe or bank SDB on the Monday morning after the show? It's not so much a matter of concern for an investor to take possession of the metals the same day as the purchase was made on as it is with having locked in a buy price when the transaction was made, which is why timing may count for some investors. A patient investor has peace of mind that they have made the investment and will be taking secured delivery of the physical bullion soon thereafter. After all, these are not coins an investor is going to sit around ogling with a loupe like a collector might with their proof or collectible versions, they are going in a safe for long term holding. Collectors collect material things and satisfy an urge for tangible material possessions, the need to fulfill that urge places priority in the need to take possession of the thing collected the same day or asap after acquisition. The investor accomplished this with the carefully monitored and decisive price paid and will know at which price to sell later whether they ever actually touch or see the physical bullion itself.

Also please provide us with some examples of the premiums you have paid over spot and what was the spot price at the time you bought from a coin show on a Sunday? While this may work just fine for you and others, still other investors may attend coin shows on weekdays when the market is in force and still others may be unable to attend shows at all, making other channels for buying PMs a necessary factor. What works for you doesn't always work for everyone else so there is no one way that is best no matter how much you feel your longevity of practice ought to dictate best practice towards others. I'm glad to know you have a method that works for you but please offer it as your experience in the first place, not one that attempts to trump what you perceive as the folly of others' investment practice.

My point here has been offered before but it is to underscore a certain confusion of suggestions often made by 'bullion investors who are also numismatic collectors' who enter the bullion investing forum bringing with them a particular attitude and/or perspective (opinion) about 'investing' which is often aligned with approaches to dealing and buying coins and is not equally applicable to bullion investing concerns and practices.

The numismatic mindset seeks bargains in different ways, with different goals in mind for the items they collect (or collectibles they invest in). Many come to the bullion investing forum and criticize the activity they see then fall into a line of reasoning supported by their numismatic practices. The two may be hard for some to separate and appear one in the same, but they need to be treated separately and understood that offering numismatic reasoning to a pure bullion investor not concerned with numismatic principles is not going to work anymore than a pure bullion buyer refusing to pay a numismatic premium on a coin to obtain the coin for its intrinsic metal value as an investment. Likewise, to cite your collectible silver buying price doesn't matter is the perspective of a collector unconcerned with bullion pricing and more so concerned with the numismatic or collectible premium than the price over spot premium. They are different and need to be addressed differently.

I feel many numismatic collectors who invest in bullion do so, in part, as an extension of their collecting habits. Many are not 'serious' bullion investors in the league with investors who buy large quantity physical PM investments like 100 oz bars, entire monster boxes of ASEs and large bags of junk silver. These are also investors of the Bullion Investing forum. It's important to distinguish the varieties of collectors, investors and combinations of the two so as not to belittle either sides best practice and misinterpret their investment goals. :smile

 

CURRENTLY:

GOLD: $1,231.20
Silver: $18.50

Platinum: $1545
Palladium: $463​

 

That is a good point. I buy locally most of the time but when I am on ebay bidding on a silver art bar, I factor in shipping charges when I set my maximum bid.

 

That is why I like coin shows. You are right in that some of the best deals are found at coin shows. A lot of my silver art bar deals were found at coin shows.

Since the spot markets are closed during the weekends (start again on Sunday evening at 6PM), then the coin show dealers will based their prices on the Friday spot close and they usually use the Friday Kitco close spot prices based on what I have seen at my local coin shows.

 

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Balogna. Where did you see any attempt to trump anyone's folly [yours included]? I think you need to go back and read my post again.

 

I cite this from your first post that questioned the sanity, ["crazy"] of bullion investors who monitor intraday bullion price fluctuations, of whom I presume you include CT members of this thread long active in the pricing discussion here before you offered your experience and venue for buying PMs at fixed weekend prices. You also ended your first post today in this thread with a judgement of others' investing practice as "just plain silly". Your next post supported the stance of your first suggesting the first was the best practice due to pricing and readiness of taking possession of PMs at the local show. Seems you may believe the premiums asked at shows do not include dealer costs of the table real estate bullion product occupies, the effort to acquire and offer it for sale at a show, and the costs of transporting the bullion to and from the show as something potentially passed on to you in a flat rate premium. Now, it's my own original "folly" for questioning your dismissive comments turned back on me as a fresh judgement in your most recent post. :rolling:

I've replied to you but you haven't answered my questions, particularly, what price you paid for bullion at the coin show and what was the spot price at that time to support your best practice as an investor who buys bullion at coin shows, nor do I expect much counterpoint from you on my other inquiries based on your first dismissive post.

Do you need some bread to go with that Bologna sandwich? or were you referring to that place in Corsica?

 

CURRENTLY:

GOLD: $1,237.40
Silver: $18.52

Platinum: $1551
Palladium: $459​

 

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I think you are making a lot of assumtions here. I don't have the time or desire to report to you my purchases and the price of silver at any given time.
Not only that but it really isn't any of your business. Perhaps my posts were not meant for you but for non-critical people with a more open mind.
Furthermore you can single out someone else to argue with. I will pass.

 

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You need to look up the definition of the word "Unless".

 

Not unless you start offering something to back your stance about best practice and what proves your approach is any better, lest of all worthy of castigating others' practice here for monitoring intraday pricing fluctuations.

 

CURRENTLY:

GOLD: $1,242.40
Silver: $18.64

Platinum: $1551
Palladium: $457​