The Men Separated from the Boys

Silver bugs are still here! I have been a bit distracted this week, won't bother going off topic with details =) I agree with LucyRay. No reason we can't be civil and agree to disagree after stating our opinions. Nobody knows what will happen, but I am very happy that I got some more silver yesterday when the getting was good IMO.

It looks like we're seeing support at current levels. I hope it drops more so I can do some larger purchases, but I wouldn't be surprised if this was the new bottom. Bullish fundamentals are still in place, although I read around this site that Comex is going to have margin hikes again next week so maybe I'll get lucky and see $25 silver for the upcoming coin show I still fully expect to see a 20 - 30% rise from July to the end of the year as has been pretty typical in the new millennium, and plan on making my next push no later than June.

Jim Sinclair says ‘relax', don't do it - don't sell your gold!
http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=126506&sn=Detail&pid=102055

Central Bank gold buying in face of sudden price fall may mean recovery is already on way
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=126542&sn=Detail&pid=102055

 

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I'd be willing to go as high as $25, but $20 would be more comfortable

 

That's one reason why I tend to spend more time over here. The occasional verbal tussle here is a mere catfight compared to some of those other discussions.

 

I expect there will be a glut of silver on the market soon and prices much lower.

The etf's created demand for the metal, which took up some of the slack from declines in industrial use. So the surplus hasn't been as bad as it would have been. But that will change unless retail demand can outpace supply.

 

At that range I would consider buying coins that happen to be predominantly prices on silver content. I would wait for $15 before I bought only bullion, but being, (in my mind), outpriced on silver coins has made me jumpy, and itching to buy.

Yeah, I mostly buy ancients, but for some reason 19th and early 20th century Mexican has been calling my name, and I would like to buy a group of 1000 or so of them just for study.

 

One might get the impression that you like '70's silver art bars.

 

I wouldn't even know where to go to make that sort of purchase, but it sounds like it would keep you busy for a long time.

 

I just have a hard time buying ASE's right nof for $5+ over spot. Im not going to give my money to dealers who think they'll cover their losses by charging rediculous prices over spot. I'm also going to wait until permiums come down. For the record I sold ALL my junk silver and ASE's @ $43.00.

 

I dont really understand what you are saying. The example of the 25-20 would be a $5 premium. Im just trying to get silver as close to spot as I can. If silver was 35, I would prefer to buy at 35. If silver was 20 I would prefer to buy at 20.

 

Picked up 6 more 2011 ATB 5oz pucks from Gainsville today. I wan't planning on getting anymore but since we are in a dip what the heck. Also picked up the latest First Spouse from the mint.
I'm not sure exactly what that make me. Probably just another sucka with a credit card.

 

Not buying silver just yet. After seeing how much it's dropped this past week, I wouldn't be surprised if it keeps sinking. But that's just a wild guess. So for now, I'm continuing on purchasing coins then once and IF silver were to get down to $25.00 an ounce, I'll purchase 4 bars at a time...per month if that continues. If it goes back up, well good news for the silver-holders! I'll just stack up on some copper bars and go the cheap route.

 

That's a popular site to purchase from. Someone else I know buys ASE's from there.

 

well I would like to buy for spot price too or under if possible but also
my point is simply buy at the cheapest price and ignore premiums...
if silver were to drop to $15 as stated in another thread...you really think you'll find it for $15? just buy cheap and ignore if there's a premium

 

It wouldn't stop me from buying a $15 silver bar for $20, that's for sure. I think of the long-term investment and that extra five bucks I paid 20 years ago really wouldn't hurt my wallet-lol.

 

Nope, not for a while. This was my experience in the 80's, the dealers were always trying to recoup prices from 6 months ago almost the entire decade. I understand them not wanting to take a loss, but when sivler was $20 they wanted 25, when 15 they wanted 20, etc, etc. It will take time for dealers not turning inventory over, and being able to replenish stock at the lower prices, (remember people have long memories, and not many people will want to sell for $15 if they remember $50 sivler), in order to start shaking loose silver more near spot. I think the proliferation of online dealers will speed this process up, but its what we call economically a "sticky" market, where external pricing does not quickly get reflected.

 

Yesterday I ate a $6 premium on some Candian Timberwolves at one of my local shops (but there was also a guy in the shop ready to sell some Pandas that I got for $36 =), however, they also had 2011 Rabbits and Kookaburras for $47 HARD. Better believe they are going to keep prices high for the ones they bought high.

 

Yep, until those items start languishing in inventory for 6 months while all current sales go to competitors. If silver went to $15 for three months it would not be enough, for a sizable decrease you will need 6 months I believe before prices get back into line with market+premium. The market is WAY to volatile right now for dealers to be forced to give you a deal.

 

Did anyone get the spread from their dealer or just the buy price. This is a good time to take notice so one could see what it is when a commodity like silver dumps. A spread like Kookaburras 47 dealer sell /??35 dealer buy?

Jim

 

The place I went to was offering $1 under spot as their buy price, and $6 over as their sell price for Maple Leaves. I was lucky enough those also included T-wolves so I nabbed all but 2 (one had milk spots, another had torn plastic wrap). I didn't see any uncirculated ASE's, only proofs and graded ones. Also picked up some Washington quarters for 25.5x

 

Cool investment results

Maybe that is my problem. I think I might be one of those that is more invested in the beauty and history of the coins (bars too) to be able to stay focus on the part related to investing.

Nice to read a successful outcome on how to work your hobby/investment for a profit. My coins are sometimes rainy day type support, or something I can sell to buy a special note with.

Congratulations. :yes: