How low Below twenty until buying?

Discussion in 'Bullion Investing' started by slackaction1, Jul 1, 2022.

  1. Mr. Flute

    Mr. Flute Well-Known Member's hitting effectively $20/toz right now.

    Goes lower? I believe it will jump back up to $21-22 by this Friday or next Monday.

    Computer run algorithm created fluctuations.
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  3. Heavymetal

    Heavymetal Well-Known Member

    PMs spot is moved by interest rates. Big players borrow to buy futures contracts. Our buddy Jay Powell says rates going up. Hence spot going down
    Supply and demand are overwhelmed
    Evan Saltis likes this.
  4. -jeffB

    -jeffB Greshams LEO Supporter

    Insider tip: the local show where I typically sell silver to dealers is this Saturday. Don't expect any sort of recovery until Monday. :banghead:
    GoldFinger1969 likes this.
  5. Mr. Flute

    Mr. Flute Well-Known Member

    I kind of feel the same as I just bought 5 modern common commemorative US silver dollars this past Saturday for $20 each and then two 1 toz bullion coins yesterday for $26 each (a Britannia and a silver Kruggerand)
  6. tibor

    tibor Supporter! Supporter

    I cost average by buying 4 times a year. I buy 15-20 ASE's each time. Plus a roll or two of quarters. My favorites.
  7. GoldFinger1969

    GoldFinger1969 Supporter! Supporter

    I doubt anybody is writing or running alogorithm's for silver. :D
  8. Mr. Flute

    Mr. Flute Well-Known Member

    Fine. Buy/sell programs. I believe the professionals mess around with large enough paper transactions to squeeze out regular profits on 5%+/- fluctuations.
  9. -jeffB

    -jeffB Greshams LEO Supporter

    Sure enough, back under 20. Maybe I should be looking to buy this weekend -- nah, shows are for selling. For buying, it's underpriced lots on eBay, or pawn shops, or CoinStar return slots.
    slackaction1, Mr. Flute and Jeffjay like this.
  10. slackaction1

    slackaction1 Supporter! Supporter

    The spot drops to the twenties and these sellers still want 10 dollars for a walking liberty. I like Jeffs' CoinStar return slots comment though. If I see one these machines now when I walk into a place, I will glance over at the return slot or go look and my wife looks at me and shakers her head and I tell her, but I read it on the net some people find Silver in them. then the Eye roll
  11. Heavymetal

    Heavymetal Well-Known Member

    Mr. Powell says ‘Terminal rate likely to be higher than we expected’
    Lookout below for PMs. Don’t sell unless you need to pony up at tax time
  12. Mr. Flute

    Mr. Flute Well-Known Member

    I always look. My wife has no problem with it as the below was a coinstar find of mine in 2016. She even checks them when she's by herself.

    silver coins.JPG
    Last edited: Mar 8, 2023
  13. Heavymetal

    Heavymetal Well-Known Member

    Elevator down fellow PM owners. Add to positions at your own risk
    Bank runs on Silicon Valley Bank & Silvergate. High tech and crypto
    When the tide goes out, we all see who’s swimming naked
  14. Heavymetal

    Heavymetal Well-Known Member

    And there goes SVB
    Second wave from this bank failure will sink many good boats
  15. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Ehhh, the only boats that'll sink are those with account balances above $250k. The FDIC (read, the American taxpayer) will toss the life preserver to the smaller accounts.
    slackaction1 likes this.
  16. Collecting Nut

    Collecting Nut Borderline Hoarder

    Just buy until it goes up enough that you feel it’s to costly. Then it’s a holding game.
    slackaction1 likes this.
  17. Heavymetal

    Heavymetal Well-Known Member

    Ehhh, SVB was a very large bank. A major source of funding for US innovative companies. Startups in technology, health care, etc. (read, world leadership in quality of life).
  18. Heavymetal

    Heavymetal Well-Known Member

  19. Heavymetal

    Heavymetal Well-Known Member

    Many, perhaps most of our members, consider our PM holdings as safe havens. In the near term, weeks, that will drive prices up. Demand driven. When the trading on the commodities futures, driven by interest rates, takes over, another drop below the magic $20
    That’s the dip to catch.
  20. -jeffB

    -jeffB Greshams LEO Supporter

    I usually go to our local coin show to sell junk silver, sometimes better stuff or gold. When I was camping on eBay new BIN listings every day, I had a steady stream of stuff coming in that I could make a (usually small) profit on.

    But I don't have time for eBay these days, even though the bargains still show up occasionally, and it just... feels like the wrong time to run down my PM holdings. I'm not short of fiat, and with silver having been above $24 just a few months ago, $21 doesn't seem like a great yield.

    I was thinking about going to the show anyhow, just to get a feel for sentiment in the wake of yesterday's bank oopsies. But time's short today, and I think I won't make it. Might go tomorrow -- the guy I like to sell to doesn't show on Sundays, but I could still talk to other people.
    Mr. Flute likes this.
  21. -jeffB

    -jeffB Greshams LEO Supporter

    Monday morning, and silver has just shot up to $21.50, up almost 4% from Friday. And I didn't sell any over the weekend. So much for my time-tested forecast model. :rolleyes:
    Mr. Flute likes this.
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