what were U oldtimers paying when silver was 4-$9/oz?

i've seen threads that talk about silver dropping to the sub $10 level and guys saying that even if it drops to sub $10 you'll still be paying a high premium and at least $15/oz. so my question is to the oldtimers that have bought in at these sub $10 levels and if you can recall what you were actually paying per ounce.

 

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Somewhere near 1990, when silver was 3.90 something, I bought some ASE @ 5.25, and that was rather consistent at that show. I could be off a dime or so, but that is the memory. I needed some for Christmas presents, or I would have passed.

 

if you have any extras laying around I've give you a $6 each for them

 

when silver was about $4.50 an ounce I was only buying generic rounds and junk silver coins, but I remember like $5 rounds and .45cent dimes I still have a bunch of circulated dimes with 45cents written on the cardboard 2x2's

 

Thanks for the offer, but now that they are toned, I don't want to part with them.

 

so when these guys say that you'll still be paying $15/oz if/when the spot is $10, they're talking out of an other orface other than their mouth?

 

I think the problem will be that for a long time if silver drops to those levels there will still be people who bought at higher prices....so they will raise the premiums to cover some of their losses.
If silver were to drop to say $10 an ounce and stay there for a couple years then the price people are willing to pay may not support a $5 an ounce premium, but until it stabilizes people will probably just assume that its going to go back up and pay the high price..
JMO
I don't remember how long silver was sitting around $4-5 dollars but I do remember it was there for quite a while..

 

People, especially on Ebay, are used to getting $18 or so per ounce (haven't checked spot lately). So if it goes down, they won't drop their prices, since they're used to getting the old price. And if someone does start selling it cheaper, they'll be bought up fast by people thinking it'll take another upturn.

 

When you are in the middle of it, it is hard to see a reversal coming. When it is down and slowly keeps going, you have to have a reason besides "investment" to buy it. I bought some ASE, but most was more or less bulk 90%. I once bought a 2x2 box of over 60 1945-micro S mercury dimes @ 60 cents each. Still have about 40 of them , A 500 mercury dime bag EF-MS ( although very few MS) lots of sliders for 50 cents each. Sold the lesser grades as bullion, kept the better. Sounds like great deals now, but just people selling before it went lower for the most part. I was one of the first to sign up for teletrade. Used printed catalogs mailed to you, and bid by touch tone telephone. In 1986, bought a MS-62 St. Gaudens for $360 ( including vigor but not shipping) and the spot was 340 something.

Today, it is somewhat the same only the other extreme. Someday, some one will ask how it was for the "new" old timers when their $30 silver crashed to $10.

Gosh, I sure sound like an old timer .......dag nabit !!

 

MY dad bought some silver when it was in the single digit pricing(4-9$ etc) for collecting purposes, he copped a few proof coins from the mint in the low 10-15 teens as well. But he never bought any gold. He complained in like 2007 about not buying any gold at all when it was low, and at the time I didnt know anything about iy myself, then recently in the last year I found out gold was like under 500 in 2000 up to like 2004 and the way he was talking I thought he meant like in 1980 he shouldve bought gold!!

Thats why I always speculate against the normal everyday average income person as they NEVER consider financial investments, like the thought never crosses they mind in such a fashion, almost like they have blinders on to consider any of the profitable situations. That or like i said in this forum before those folks do not have any cash to invest thus staying nicely strung along with the rest of the folks in debt.

Wheres a time machine when you need one?

 

Back in the day... when silver was below $10 and had not yet risen above $10, I was able to buy ASEs for $1.50 to $1.75 over spot, shipping included. The lowest I paid was $5. This was perfectly fine since I was convinced that silver was going up. Currently I consider any price below $20 to be acceptable [the lower the better]. I don't believe that future prices will be below that level for any length of time because of the supply/demand structure in the market.

 

When I started, Feb 2001, I got ASE's for $4.95 (rip-off!!) when silver was $4.0x. I was so irritated at the 20% overhead that I only bought a handful. Seems like I am paying 11ish% overhead now at $20 per.

I finally have submitted to the obvious fact that I can't out think it, just cost average on dips.

 

I remember paying about $7 for ASE's in the late 1990's. I am sure I got ripped off but I was collecting them by the year and only slightly concerened about the silver part.

 

I remember buying a bunch of "junk" silver 90% from house demolishers for 3.2 times face in the early 90's. I would find an occasional 32s quarter or something to boot. I paid him more than what dealers were offering, and slightly less than what dealers were selling for. I think the "new" silver one ounce coins went for $1 over spot, less with quantity. Rounds were right around spot, with maybe $.50 premium for "cute" ones.

If silver goes back down, sellers will try to increase their premiums over spot for as long as they can. No one likes to sell inventory for less than they paid, just like the housing market now. Eventually it WILL go down to more normal premiums, just lika what happened in 1981-1985. Sellers then tried to keep increasing their premiums to not lose, and after enough lost sales had to bite the bullet and sell at normal premiums.

This is what worries me now about this market, the fact that premiums are so high it seems like the last boom/bust cycle. I am simply stating that no one should be overleveraging at these pricing levels, as the downside risk is just as high as any upside potential. Just for full disclosure, I have a few thousand ounces I put away 20 years ago, but am not buying any now except for silver that comes in coin purchases. With a little fiscal prudence, and the Euro calming down, I could see $10 an ounce again just as easy or easier than $30.

I know I am on the wrong board with that opinion, but still.

 

About 5 years ago, silver spot was $7 or less per oz. and I bought a lot off of eBay, and NEVER paid over spot, including shipping. I sold when the prices went up to about $15/oz. Silver is up about 300% since then, and if you folks think that it will continue to go up...good luck! I'm definitely not a buyer at today's prices. The silver market is totally being propped up by collectors and investors right now. That will change as the price drops or mines start re-opening. Even with increased silver usage in industry, there is certainly no shortage in sight for many years.

 

Not in my opinion. The area is labeled Bullion Investing, not Bullion hoarding, speculation, gambling, etc.

In any investment, aftersight will show that there were times to buy, hold, or sell. Too many are only considering buying and holding, but a pertinent part of investing is to have an exit level and strategy worked out ahead of time. IMO.

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Thanks Desert, I think I am still reeling from being lumped into the "oldtimers" category. Lol. I am only 41 but I guess I have been collecting for about 30 years now!

 

Seems like the housing market should tip people off to what could happen?