Is anybody still buying silver and gold?

Discussion in 'Bullion Investing' started by ahearn, Jul 27, 2011.

  1. ahearn

    ahearn Member

    With spot prices over $40 for silver and $1600 for gold, is anyone still buying bullion?

    I'm not an "old-timer" in this area (bought my first silver and gold bullion about 18 months ago when prices were less than half current spot) but it's hard to believe that people are still buying at these inflated prices. I haven't bought in months.

    As soon as the current recession and national debt issues are behind us (months?, years?) bullion prices will return to "normal" levels and current buyers will be left holding the bag, IMHO.
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  3. Copper Head

    Copper Head Active Member

    I'm still buying, but certainly not as much.
  4. eric0911

    eric0911 SMS-71

    I'm buying and not selling a gram until the debt issue is worked out.
  5. Collector1966

    Collector1966 Senior Member

    It's not just the debt issue that's responsible for high precious metals prices-- it's just the crisis du jour.
  6. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    I see no evidence that the current recession and debt issues will be resolved. The model might be Japan, which has been fairly stagnant since about 1990.

    I stopped buying bullion for investment purposes when silver was $20 and gold was $650. Since then I have only purchased a few coins that I wanted for my collection.
  7. sodude

    sodude Well-Known Member

    Also waiting for the debt issue to be worked out. If the price crashes as a result of that I might start buying again.
  8. InfleXion

    InfleXion Wealth Preserver

    I already bought as much as I'm comfortable with in the mid 30's, and have only been doing one-off purchases at higher prices. So yes I am still buying, but not for investment. However, if I had not already done so at lower prices I would still do so today to shore up my core position as long as it wouldn't jeopardize my finances. No point buying if you end up needing to sell back at terms you don't get to choose, but otherwise better off not getting caught without PM's in the event you need them IMO. If it drops down to the very low 30's or lower I'll step it up again.

    I also do not see a clear indication that the issues in Washington are going to be resolved. The debt ceiling shouldn't even be an issue if you ask me. How about we talk about addressing the debt itself? The proposed cuts don't come close to that, and nobody seems to be talking about it. Let's just borrow more!
  9. Dr Kegg

    Dr Kegg Star Note Fanatic

    I stopped buying bullion at $30/oz and $1,100/oz respectively. I only buy silver coins if I find one that is an upgrade to my set.
  10. medoraman

    medoraman Supporter! Supporter

    The only silver I have bought has been in group lots of world coins. I try to get the lot assuming $20/ounce silver value for the silver coins. I got one about a week ago with 20 French 50 centimes I valued that way in my bid.

    Other than that I do not buy, but like others I have bought in the past, so my percentage of dollars invested in PM certainly has increased.
  11. Hawkwing74

    Hawkwing74 Member

    I don't have a lot of cash to spend but I'm buying about an ounce of silver per paycheck.
  12. scottishmoney

    scottishmoney Я люблю черных кошек

    Hate to admit, I stopped buying silver when it was $12.50, most of mine was purchased in the $4.50 - $6.00 range. When it hit bottom I had just sold my first home - so I bought up lots and lots. And sit on it, waiting for it to hatch.
  13. onecenter

    onecenter Member

    I am buying silver numismatic sets and pieces only.
  14. Captainkirk

    Captainkirk 73 Buick Riviera owner

    I sold most at $42-$47, I won't buy again till sane levels return, maybe $20 to $25/oz.
  15. wgpjr

    wgpjr Collector

    I haven't bought any bullion silver since January, but I have been picking up some good quality morgan/peace dollars as of late!
  16. sodude

    sodude Well-Known Member

    I thought I had stopped buying, but then I got a pretty good deal. I guess I won't ever really stop.
  17. McBlzr

    McBlzr Sr Professional Collector

    I am in Phoenix, Az for the weekend. I visited a coin shop today. While I was there a guy came in with $2000 in five dollar bills to buy silver rounds (not ASE's) :confused: He got 42 rounds for his 2k :confused:
  18. Elapid

    Elapid Member

    At over $47 troy I think he got burned. :(
  19. vnickels

    vnickels Matt Draiss Numismatics & Galleries

    If the debt issue gets resolved, it could force precious metals to crash!
  20. thatcher164

    thatcher164 New Member

    only buying solid numismatic coins most of the
    time, also like the dollar cost averaging
    startegy when it comes to both tangible and
    intangible assets. $2000 for silver rounds
    rather have a couple of rolls of bu morgans
  21. dadc

    dadc New Member

    I respectfully doubt your opinion, seeing as how the debt ceiling is just an arbitrary limit on paying past obligations.

    Unemployment is at 9.2% realistically closer to 15%

    Thats 14 million americans out of work or 20million if you add underemployed and part time.
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