i bought some bullion today

5 X 10oz silvertowne bars @ $18.70/oz
100 X 1oz silvertown bars @ $19.02/oz
2 X 100oz engelhard bars @ $18.86/oz
and 100 X ASE @ $19.94/oz

how'd i do on the pricing, i figured i have a bit of room to play with on these prices if there is a little drop. the ASE's and 1oz bars are for my brother but none-the-less my credit card is still smoking from all the excitement.

 

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With spot closing at $19.17/oz on Friday, June 18, 2010

1.) The 5 X 10-oz silvertown bars = bought at $0.47 under spot silver

2.) 100 X 1-oz silvertown bars = bought at $0.15 under spot silver

3.) 2 X 100oz Engelhard bars = bought at $0.31 under spot silver

4.) 100 ASE's = bought at $0.77 over spot silver

Conclusion: AWESOME!!!!!!!!!!

All of those listed purchases are very excellent. Buying under spot is very good. You did very well with those purchases. The ASE's were the best buy because there is no dealer in my area that is selling ASE's for $0.77 over spot silver. Most of the local dealers in my area are selling ASE's for $2-$3 over spot silver. The fact that you bought silver for under spot price is just awesome in my honest opinion.

 

thank you, but im sure most everyone here is averaged in for ALOT less than these prices. i've arrived late to the game so i have to gather my nuts quickly and look for the best possible prices that i can get at the moment. i have another 11K that i want to get in almost immediately and then i will sit back and add with any dips.

 

It is possible that silver could get smacked down as it moves toward that $19.50-$20 range. If I was wrong and silver broke through $20 next week then you would still have the oz's of silver that you bought at under spot silver of $19.17/oz. If silver drops to the $17-$18 range, then you will be able to get some more silver for less costs BUT that is assuming that the dealer that you bought your silver from will lower his premiums if/when silver hits $17-$18 range. The problem might arise if/when silver falls to $17-$18/oz but the dealer that you bought silver from does not lower his premiums.

 

its all from ebay, i used 3 different rewards to obtain this pricing. ebay bucks for 2% of the auction, bing cashback for 8% of the auction and my credit card for 1% of the total price so i saved 11% off the dealers listing prices.

 

if it does go down, im still buying from ebay and most likely still under spot.

 

You did good. Nice selection. -- You are in and that is what is important!.

Congratulations.:hail:

 

That is very good 9guns and the fact that you were able to buy silver for under spot on ebay makes it even better IMO. The prices that you paid for the silver on ebay beats what a local dealer would sell it for IMO. The local dealers in my area are not going to sell silver to an individual for under spot silver.

Congrats to you 9guns on your ebay silver purchases at an excellent price.

:smile

 

You said you bought it with a credit card? Are you going to pay off the balance right away? If you do carry that balance, even at 6% you would be charged $43 a month just in interest. Nice buys!

 

yep, i dont carry a balance. essentially i just used my credit cards for the rewards and convenience of them

 

:hammer: a man like myself. you use them not let them use you.
in my op you did good.

 

All were good buys, especially the ASEs. TC

 

My personal way to buy investment silver is to consider any price under $20 to be a good one, and the farther below $20 the better, regardless of what spot is. Spot is irrelevant. I would rather buy silver at $18 when spot is $17 that to buy it at $19 when spot is $20.

 

That is a great point, Cloud!

I remember putting of many purchases because Silver was 10.70 and not below $10 like what I was used to. I waited quite a while too.

Taking it slow and having a pattern of purchase is the only way to stay sane for a worrier like me.

I have a friend that sold his house last year and wants to dump it in to PM. I don't talk about PM to friends or family and have begged him to re-think his plan. Patience is becoming rare these days.

This rush to PM that I see from people is starting to scare me. Is this what you "old timers" saw during the silver boom in the 80's?

 

I vividly remember the silver boom in 1980, but I was strictly a stock market investor back then. It started a lot like it is today. A few people started buying who wouldn't normally buy silver [or gold]. People thought they were taking crazy risks. My aunt worked in a bank and told us about one man who put so many gold and silver coins into a safe deposit box that the ladies at the bank couldn't slide it out of the wall. It was too heavy. Later, more people jumped in. Eventually, there were lines outside of coinshops on the evening news with people trying to buy [and sell], and people at work started talking about it. This was about the time the price went parabolic. Then, the whole thing ended in what seemed like a week or two. I think there is a high probability that this will end [badly] in a bubble, but it's still early in the game. When silver starts rising $5 to $10 per week for several weeks in a row, you'll know the end is getting near. Several years ago I choose $20 as a maximum buy price based on my best estimate of what I thought the minimum future price would be. There is no way to know how good the estimate will turn out to be, and it comes with no guarantees. I just threw it out there to explain my way of thinking about silver prices. I don't plan to make any major purchases above $20 because the risk grows with the price.

 

Here it is.

Post 5 explains how he got the discounts when silver was in the low 19s or high 18s, I think. It sounds like he won an auction, although I'm not sure as he wasn't totally clear.

 

Thanx!

 

i just scored 60 ounces by way of 10 oz NTR bars for $17.68 an ounce

 

You'll have to go into business someday. Congrats on the successful haul!

 

Congrats on your purchase. :smile