People stop buying ever since Silver has been over 16.00 a ounce on ebay auctions seem to have slowed you can look at the bid history and it's has slowed to next to nothing for some popular Silver products.
People have short memories. They remember what the price was a few months ago. If a few months ago it was $14 they stop buying at $16. However, if it was $18 a few months ago they would be buying at $16. If it stays at $16 for a while they will pick up buying.
Where were you when the price of silver started it's climb from under $10 to almost $50? People were still buying when it hit $30. I guess you were too busy reading comic books to notice. Chris
And if it starts a sustained climb, people will buy at or even above the going rate, because they figure it'll still be more expensive later.
No need to be snarky. The question was obviously oriented toward recent activity. We don't need to criticize people who weren't paying attention during the Crime of 1873.
I don't read comic books. I was doing the same thing, buying and selling, leveraging my winnings and diversifying. I did a "back the truck up" summer run and now I'm holding, and paying attention to buying opportunities during the dips. Where were you last summer?
I kind of "backed the truck up" a month ago. An old friend said he had some half dollars from his mother. He said the local dealers would only pay $5.50. I told him I would do better, and let him know if there were any better coins in there. Well, the post came.......exactly 1000 silver halves. Nothing good in there, half of them were 64's, but I wasn't really expecting to be buying 1000 silver halves right now. Oh well, in the pile they go.
I have Van Ryzin's book. It's interesting, but a slow read with all of the footnotes and references. If you think I'm being snarky, then what do you call people who EXPECT to make a profit on their INVESTMENTS. How many times have these people been warned on these forums that if they are looking for a good investment then they should look somewhere else. Chris
I know exactly where I was last summer, and it's immaterial. I sold all of my junk silver when it hit $45, and I've never looked back. Chris
I was just as lucky as you. My wife and I sold all our broken gold jewelry when it was at $1910 an ounce. I think the next day it started it's slide. Obviously this was further back than last summer. But it just shows that the markets are unpredictable and knowledge on pricing is the same. We did take a nice trip to Alaska for the second time. :>) Anyone like to see a 1000 pictures?
And I'm right there with you in the chorus, pointing it out with civility if they'll listen, and with snark of my own if they won't. I didn't see any sign of that "I deserved profit from my silver investment" attitude in the OP, though. Ah, so you speculated (successfully) that it had reached its top, then?
Howdy folks, Silver cheap or dear? feh. It's all relative. I too backed up the truck about a month or so back and have been experiencing a multiple orgasm with silver junior miners led by SVM with side plays in EXK and AG. At the same time, I recall making a statement that 'under $5 an oz., you should ALWAYS be buying silver'. Er,I said the same thing at $10 and $15. My first roll of ASE's was from Paul Sims and I paid under $90 including S&H. Seriously, over the long haul, you just want to accumulate on an ongoing basis regardless of price. It's called Dollar Cost Averaging and it evens out the price you pay over time. I modify it a bit and not only buy on a regular basis regardless of price, but buy additional silver when the price is obviously low - buying on sale, if you will. and so it goes, peace, rono
I haven't looked on eBay for silver in a long time. But when I have, the premiums to spot have always been exorbitant.
I took the OP's comment as a complaint when he said that nobody was buying at $16. I can only assume that he was expecting to sell. You can call it speculation if you want. I just call it good fortune that I didn't try to get greedy by letting it ride. Many others were buying at $40+. For almost 10 years, I hoarded all the silver that I got at face value from the bank. This was well before most CRH'ers started taking notice of the price increases. Chris
So you speculated, and you won. And it's not for others to do? They key to any successful investment is knowing when to pull the trigger on buy/sell/hold. There's lots of people that follow the herd, and they go off the cliff. It happens with all investments.