So, guess who paid too much. Ouch. $37 an ounce.

tneigtneig Posts: 1,505 ✭✭✭
edited January 31, 2019 5:15PM in Precious Metals

I found an old receipt where I paid $37 each for two eagles from a B&M. Perhaps they were a $1 or two higher because they were 86/96 or something, but wow.
I think everybody knows the relative date that was. Likely it was one of the happiest days for some, and the day after, one of the unhappiest.

COA

Comments

  • derrybderryb Posts: 27,042 ✭✭✭✭✭

    "When" is just as important as "how many."

    All debt-based consumption steals from the future to gratify the present. It is tomorrow’s consumption pulled forward. It signs a perpetual check against an overdrawn future.

  • cohodkcohodk Posts: 15,610 ✭✭✭✭✭

    @tneig said:
    I found an old receipt where I paid $37 each for two eagles from a B&M. Perhaps they were a $1 or two higher because they were 86/96 or something, but wow.
    I think everybody knows the relative date that was. Likely it was one of the happiest days for some, and the day after, one of the unhappiest.

    Just remember...some paid higher for much more.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • Timbuk3Timbuk3 Posts: 10,590 ✭✭✭✭✭

    I remember those days !!! :'(

    Timbuk3
  • jmski52jmski52 Posts: 19,642 ✭✭✭✭✭
    edited February 1, 2019 5:05AM

    Just remember...some paid higher for much more.

    Likewise, some paid lower for much more, like right now for instance.

    Silver is especially not fun to buy when there's little or no movement in the market - but that's probably the safest time to be buying it.

    The overriding principal is to remember what silver is, and what it's not. It IS a semi-monetary precious metal which has industrial use, and it's market is relatively tiny compared to stocks & bonds. The physical metal has no counterparty risk.

    The physical metal in hand IS NOT an un-backed piece of paper that can be re-hypothecated without your knowledge and loaned out for the benefit of the bank or brokerage that is "holding" it for you.

    Being a relatively tiny market which has some connection to monetary usage, the silver market can be subject to largely unexpected inflows and outflows, depending on what other economic factors might be going on at the time. That's one reason why it becomes quite volatile in times of economic turmoil or uncertainty.

    Silver is a critical industrial commodity, but it still has a strong monetary connotation, don't have any misconceptions about that.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • bronco2078bronco2078 Posts: 7,280 ✭✭✭✭✭

    happiness is a temporal factor , it occurs in the moment , later on when you find the receipt for happiness it is never the same i'm afraid :/

    This has been a public service announcement ,

  • DrBusterDrBuster Posts: 3,864 ✭✭✭✭
    edited February 1, 2019 5:56AM

    Got you way beat on several orders I'm still holding, ha! How about this one, totally buried in these:

    Order Date: May 3, 2011
    2011 China Silver Panda 1 oz Coin | Brilliant Uncirculated
    BBFS-01068 $52.44
    Ordered: 10
    Shipped: 10
    $524.40

  • cohodkcohodk Posts: 15,610 ✭✭✭✭✭

    @jmski52 said:
    Just remember...some paid higher for much more.

    Likewise, some paid lower for much more, like right now for instance.

    The 20yr averagr proce os 14.50....same price it was in December.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • BaleyBaley Posts: 21,010 ✭✭✭✭✭

    Also, the 20-year average price is $14.50.

    Liberty: Parent of Science & Industry

  • rickoricko Posts: 67,882 ✭✭✭✭✭

    Silver is trending up right now... So many will buy, thinking it will go on. Of course, it might go on, for a while....but it will dip again. Smart silver stackers, who stocked up at $14/oz...might sell some at melt and make a small profit now ($16/oz)...most will hold. Cheers, RickO

  • cohodkcohodk Posts: 15,610 ✭✭✭✭✭

    @Baley said:
    Also, the 20-year average price is $14.50.

    Lol.....dont text and drive kids.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • jmski52jmski52 Posts: 19,642 ✭✭✭✭✭

    The 20yr averagr proce os 14.50....same price it was in December.

    Okay.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 1,694 ✭✭✭✭✭

    I bought at $5, probably at $37 too and still buying now near $16. One things for certain, the ounce total keeps increasing. Stack on!

  • ttownttown Posts: 4,382 ✭✭✭
    edited February 1, 2019 3:45PM

    Did you average your purchases or is every transaction a loss? Take a tip from the people that play the market. Sell your losses with your high flyers not too hard. I've have some losses as well but can offset my losses by let's say $450 double eagles or $7.50 eagles. Of course if your not paying taxes I guess you would have an issue if you have to have bill money.

    Sound like you don't have enough income to play PMs or the stock market.

    Food for thought. Pay off your bills first and get an emergency fund. Problem solved.

    JMO👍🏼

  • tneigtneig Posts: 1,505 ✭✭✭

    @blitzdude said:
    I bought at $5, probably at $37 too and still buying now near $16. One things for certain, the ounce total keeps increasing. Stack on!

    I wonder what the price average is if you calculate back to $5 times.

    COA
  • tneigtneig Posts: 1,505 ✭✭✭

    It has been more purchases on the high side overall. Never really added in any selloff at different prices and how that affects that average. Now I'll get something only for a collecting sense if something pleases me or if a really good deal. Purpose of stacking was always fluid for me. Hobby, bubblebuying, enjoyment, excitement, stored value, private money, hedging, etc. in that type order.

    I'm actually really good. Its a choice to sell off some verses other factors or taking other moneys out.
    Currently living on SS and my own retirement money or PM. Rather have a smaller stack of good value then a lot of weight like I had before. And honestly because of the time I came in, my other assets brought in return then I can make on PMs now or near future.

    Now if silver went below $10 or gold down to $500, I may really be looking at things differently.

    @ttown said:
    Did you average your purchases or is every transaction a loss? Take a tip from the people that play the market. Sell your losses with your high flyers not too hard. I've have some losses as well but can offset my losses by let's say $450 double eagles or $7.50 eagles. Of course if your not paying taxes I guess you would have an issue if you have to have bill money.

    Sound like you don't have enough income to play PMs or the stock market.

    Food for thought. Pay off your bills first and get an emergency fund. Problem solved.

    JMO👍🏼

    COA
  • jmski52jmski52 Posts: 19,642 ✭✭✭✭✭
    edited February 2, 2019 8:39AM

    I bought at $5, probably at $37 too and still buying now near $16. One things for certain, the ounce total keeps increasing. Stack on!

    I've have some losses as well but can offset my losses by let's say $450 double eagles or $7.50 eagles.

    Double Bingo!! These two statements encapsulate the main idea. Continue to accumulate while making sure that you minimize taxes when you do sell at a later date.

    Tax management is easy to do if you simply keep good records and don't make things too complicated with too, too, too many transactions. (Thus, the case for saving up in order to make less frequent but larger acquisitions - i.e., fewer line items on the spreadsheet.)

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 15,610 ✭✭✭✭✭

    Tax management is easy to do if you simply keep good records and don't make things too complicated with too, too, too many transactions

    Now a days they have these things called conputers that do like a billion calculations a second. Id imagine one thems things could computate tax real quick like.


    Excuses are tools of the ignorant
    Knowledge is the enemy of fear
  • MsMorrisineMsMorrisine Posts: 23,044 ✭✭✭✭✭

    @cohodk said:
    Tax management is easy to do if you simply keep good records and don't make things too complicated with too, too, too many transactions

    Now a days they have these things called conputers that do like a billion calculations a second. Id imagine one thems things could computate tax real quick like.

    to compute profit and loss one turns to the spreadsheet for individual transaction entry

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 27,042 ✭✭✭✭✭

    Silver? A useless relic.

    All debt-based consumption steals from the future to gratify the present. It is tomorrow’s consumption pulled forward. It signs a perpetual check against an overdrawn future.

  • tneigtneig Posts: 1,505 ✭✭✭

    Wait! What!?

    @derryb said:
    Silver? A useless relic.

    COA
  • jmski52jmski52 Posts: 19,642 ✭✭✭✭✭

    Now a days they have these things called conputers that do like a billion calculations a second. Id imagine one thems things could computate tax real quick like.

    And your point is?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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