Silver getting crushed today

I prefer lower myself, but I had some spare cash to burn
of course, I forgot I kept that cash for the 225th Silver medals today and a few other things.

 

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SO B-MAN guess your out of timeout phase.. buying 10 ASE....or..feeling it out.......

 

Yeah, went out of timeout for a day. Probably going back in. This purchase would be part of my coin collection and not my bullion though.

 

my ASEs are part of my "bullion" "collection"

 

I think the gain was from the Fed saying they are raising the rate AND starting to unwind the 4.5 T$ balance sheet. I don't think it will stay, as conversely, Congress also is damping the Dodd-Frank Wall Street Reform and Consumer Protection Act, which really helps the BofA , WF, MS, etc. and the billionaire investors. One bank is starting up 1% down payments with multiple source of income for home loans, so go around-go around, IMO short term plays buy/sell to $25-28 and then sell all and buy repossessed houses. Jim

 

Back down to $16.83!!! what a weird day.

 

It's all about the range in this commodity not day to day. If you a buyer ignore the hype set your goals, follow the range in prices and buy on dips. You are accumulating over time and want to average it.

Don't buy in commodity market unless you are quite rich and can afford losses &/or can take delivery if need be. Not a place for little guys. I can tell you that from experience

 

For the individual uncirculated raw version ASE's, the most protective method of storing them, would be to place them in capsules, and store them in one of the many enclosed coin holders. Such as one of the wooden encapsulated coin holders, which would be the most compact type. A coin display type holder, which can be made of a wide variety of materials, but can be quite large, and would take up a lot of storage space.

After that, I would suggest one of the ASE coin albums, with my first choice being the Dansco album, because I feel it offers the best protection for the coins. The Dansco album also would allow your niece and nephew, to look at the coins as much as they want without getting any contamination on the coins, (unless they remove the protective cover). Whitman used to make an album that had the protective plastic covers that go over the coins, but I haven't seen one in quite some time, (of coarse I haven't been looking either). Then there are other albums out there for ASE's, that just have the slots cut out for the coins themselves, but offer no significant protection.

 

Bman33,

I hope that some of the information I gave you will be helpful, and welcome to ASE collecting. I did the same thing when I started my collections, but they were for my two children. Now I have two grandchildren, (with hopefully more on the way), and my children told me to keep the collections going for my grandchildren instead of for them.

I would like to offer you a suggestion though for your collections. Collecting the Mint State uncirculated versions of the ASE's in the raw form is good, especially if they are needed for investment purposes. Raw silver coins can always be used as a form of currency in times of great need. Their value will of coarse be tied to the market value of silver at the time, and whether the value is more or less then what you paid for them, they will be worth more then paper currency. Example; a $1.00 bill is worth $1.00, (actually less if you go by it's value), but a $1.00 ASE is currently worth approx. $17.00 roughly.

My suggestion for a collection of ASE's in the Mint State uncirculated version, would be to assemble a collection of MS69 coins from either NGC, (Numismatic Guaranty Corporation), or PCGS, (Professional Coin Grading Service). Right now, with the cost of Silver as low as it is, even with the fluctuations, you can pick up the MS69 coins for just a few dollars more then you can buy the uncertified raw coins. They would be permanently sealed in the coin holders, which means no damage to the coins, and they can easily be stored in multiple types of coin storage holders. To all the others reading this, NO I DO NOT WORK FOR ANY THIRD PARTY GRADING COMPANIES.

Bmann33, I only mention this because, the price difference is not that much between RAW and CERTIFIED ASE's, and when you collect the certified versions, you are almost certainly going to get authentic real 99.9 pure silver coins. Believe it or not, there are some really good counterfeiters out there, and I personally have seen hundreds of FAKE Coins, (I can't call them ASE's because they're fakes), and some have been so good, that the only way to verify they were fakes, was by the silver acid test. OK, I'll shut up now!

 

Stock Futures are way down this morning. So it would make sense that PMs are up.
hmmm ....

 

Based on this chart:
http://www.news.gold-eagle.com/sites/default/files/aaron052217-1.png

I think that if the gold price remains above $1240 at the end of the month then the uptrend is still in place and an upside breakout of the pennant is still a good possibility. Silver generally follows gold.

Having said that, I am not big on technically analysis and prefer to look at the fundamentals. To me the fundamentals are still positive.

 

Up down or all around today? We'll see in a minute!

 

YES.



better than BitCoin recently. LOL

 

And it's shooting UP .. I mean DOWN today

 

Love this downward trend as of late.

 

What downwards trend ??

ooh .. that ONE !!

 

ARRRGH!!! Make it stop!!!
Wait, now I can stack more.

 

Panicking won't get you anywhere. Just sit back and relax and see what your stock is worth in ten years. In the meanwhile buy a few nice coins.

 

Good time to buy some ASE's right now for under $20.

 

WOW, apparently you don't have humor in your neck of the woods.
I do agree though, not to panic. What good would it do anyway.