Silver getting crushed today

They're both killers!

 

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To me, the reverses of the Texas and the 1920/21 Pilgrim are two of the all-time jewels of American coin design.

 

As a new start-up after many years in absentia, I have purchased many nice coins in the past year with unending encouragement from my wife. The problem is that I want and like most everything I see. I am that kid in a candy shop kind of guy. I love the numismatic as well as the investment aspects. Well, I have really gone overboard and have received a "warning" of great magnitude. So I'll give it a few months and then will probably be back on the trail because it is so addicting.

 

Get yourself a collecting plan and stick with it.

 

I have a great collecting plan.
Unfortunately, now it has to be heavily funded as I hit the proverbial "gold" wall .. all the ones left on my "plan" are gold which requires quite a bit more funding than what I've completed already.

But if silver/gold keeps getting crushed (as brokers now return to the equities markets) I might be able to in the near future

..

 

Whoa!

 

Back to normal. Ahhhhhhhhh.

 

Yea, and I just got this email from Provident Metals


I want it to dip more as their prices are still above $20 each for ASEs ...
I prefer under $19 ea per ASE, or even lower.


EDIT: forgot to mention. This email also had with it a $0.02 sale on ASEs. Which disappeared when I hit refresh, which I think oddly had the same price. Nice PM euphoria marketing ...

 

My emails always say it's time to buy.

"Market's going up, time to buy!"
"Market's down, buy the dip!"

Anyone else see the pattern I do?

 

As I type this, the Kitco spot price is $16.585, meaning its just shy of centered in the 16 range.

Just for fun - Which second digit other than "6" will we see next, "5" or "7"?

I say "5".

 

The PM dealers really like customers "euphoria" buying.

the PM sellers prices don't really change much with quick swings in the market. One always has to double check market spot to bullion vendors "spot" price if they buy PMs based on spot. I've tracked ASEs long enough now that the spot prices changes may not actually affect price. They use a lot of windfall profits by keeping their sell price stable trying to maximize profit based on current euphoria and their acquisition price.

 

I now usually buy single pieces to keep sets current, so I just buy when they're available.

 

Yes, you should through caution into the wind,
and your wallet to buying all the time,
to fill someone else's pockets.
Capitalism at it's best.

 

As a reformed capitalist, son of a still unreconstructed capitalist, I now see the problem.

 

For those who bought silver at a high price...I am the guy on the left.

 

Ahh .. if 'ye only followed my advice on May 9th ...

PMs is like daytrading .. know what price to get IN, and what price to get OUT.
Except I buy for wealth storage and something pretty to look at. So I just target my "IN" price and stick to it.

Even when PMs went gonzo a few years ago I held my PMs. If I sold them I'd have to buy them again as it's part of my overall portfolio strategy based solely on acquisition price.
..
okay, I got lucky buying them back on May 9th compared to what happened to spot afterwards. LOL

 

Did you really buy when it was in the $40s? Even I never bought above $37. But then I did sell a little at $48.

 

But...but...but...that doesn't rhyme...

 

Careful, I'm feeling a numismatic haiku welling up.

 

No, the highest I ever paid was for a 1 oz ASE for 37.00 and that was back in February of 2013 as a novice bullion buyer. I joined this forum and another soon after that purchase and asked a ton of questions to get informed. Have I ever paid to much for a piece of silver, of course I have but lessons are learned. I was being funny with the cartoon.