Home Precious Metals

Anybody Buying? What are you Buying?

Mike59Mike59 Posts: 294 ✭✭✭

I’ve been buying PM’s for years and never sold an ounce of any. Normally I’d be a strong buyer during a pullback like this but the premiums are ridiculous ( IMO). Last week I bought a $10 Gold Liberty as a coin purchase. Aside from that no other PM for months. What are you buying And why? I think the high premiums the new normal, do u agree?

MIKE B.

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Comments

  • PppPpp Posts: 452 ✭✭✭✭

    I am always buying gold and silver. My last buy was $90fv of 90% last weekend at 14x and I plan to buy some gold today or tomorrow.
    I view pms like a speculative stock where I use money I don’t need anytime soon and it’s part (a small percentage) of a full diversification of assets in my portfolio.
    Premiums don’t scare me as long as the buy price relative to the sell price makes sense for me.

  • blitzdudeblitzdude Posts: 5,263 ✭✭✭✭✭

    Gold. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • MeltdownMeltdown Posts: 8,600 ✭✭✭✭✭

    I bought a $5 gold piece last week but have otherwise avoided buying silver at these premiums.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I have not purchased any PM's during this dip. For those considering buying... Might consider it soon if an opportunity with low premiums presents itself. Not sure how much longer this dip will continue... Cheers, RickO

  • pmh1nicpmh1nic Posts: 3,116 ✭✭✭✭✭

    Not buying for stacking purposes but if I see something I really like I'll buy.

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • derrybderryb Posts: 36,008 ✭✭✭✭✭

    I'm buying GOAU. It's on sale. :)

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,746 ✭✭✭✭✭

    Ordered another 1000 oz ag.... for another buyer ...down in the gutter , brudder.

  • WeissWeiss Posts: 9,922 ✭✭✭✭✭
    edited July 25, 2022 6:44AM

    Bought more gold in the last week than I have in any other single week in probably 6 or 8 years.
    But it's more a function of asset diversification than market price.
    The one perk of a diligent investment strategy is keeping to the script. Moving a crap ton of cash into the equities markets (via dollar cost averaging) means that I got to blow a bunch of cash on gold, too.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    it's more a function of asset diversification than market price.

    This makes more sense than trying to time anything.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,746 ✭✭✭✭✭
    edited July 26, 2022 7:54AM

    Picked up a Gold Maple Leaf, Gold American Eagle and gold Austrian Philharmonic for $5100.

    Would have preferred $4800 but that would have been Pawn Shop &/ or Putin's prices.

    Also got a few of those overpriced 2022-W burnished eagles from the mint. Crazy expensive there. Three of those cost ( just under) $8100. Who is ripping who ?

  • SpoolySpooly Posts: 2,107 ✭✭✭

    The premiums are too high on gold and silver. Gold stocks have been taken a beating.
    I’m considering putting a gold stock portfolio together.
    Requirements:
    Company must be profitable.
    Company must pay a dividend.
    At least my money won’t be dead, it will be collecting dividends.

    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • Mike59Mike59 Posts: 294 ✭✭✭

    Went to LCS today. He wanted $245 for 10 oz silver bars and only pre-33 was a raw 1904 $20 Lib in XF $1950. I have 2 already and actually left empty handed. First time in years I left empty. There’s a online coin shop GoldenEagle.com price’s ok. Selling 10 oz bars for $226. They always have sale items and they have .9999 1 oz Britannia’s at $1810. I’ve been watching them for a while ( trust issues) but I think I’ll make a small buy like 1 oz gold and see how it goes.
    Mike

    MIKE B.

  • conrad99conrad99 Posts: 300 ✭✭✭

    Au. Bought my fair share last night (though the premiums are indeed painful) because I wanted to get in before the collapse! Oh wait.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,746 ✭✭✭✭✭

    Bought, sold and ordered more, during the past week.
    Mostly the stuff blitzdude denigrates. Call it gutter but it feels like money to me.

  • blitzdudeblitzdude Posts: 5,263 ✭✭✭✭✭

    @TwoSides2aCoin said:
    Bought, sold and ordered more, during the past week.
    Mostly the stuff blitzdude denigrates. Call it gutter but it feels like money to me.

    Nothing wrong with buying and selling. Just don't hoard the stuff. There's people that have been hoarding the stuff 4+ decades now and they are still in the gutter. lol RGDS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,008 ✭✭✭✭✭
    edited July 30, 2022 11:24AM

    half oz. ms69 FS gold spouse @888.25 after ebay bucks and CC rebate.
    two one oz. ms70 gold buffalos @1823.25 ea. after ebay bucks and CC rebate.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • JWPJWP Posts: 16,297 ✭✭✭✭✭

    I've been buying Morgans and Peace dollars and some silver bullion too.

    USN & USAF retired 1971-1993
    Successful Transactions with more than 100 Members

  • hiijackerhiijacker Posts: 1,163 ✭✭✭

    I have been looking and been able to buy a few vintage silver bars. Hard to find though,

    Buyer of all vintage Silver Bars. PM me
    Cashback from Mr. Rebates
  • dcarrdcarr Posts: 7,878 ✭✭✭✭✭

    @blitzdude said:

    @TwoSides2aCoin said:
    Bought, sold and ordered more, during the past week.
    Mostly the stuff blitzdude denigrates. Call it gutter but it feels like money to me.

    Nothing wrong with buying and selling. Just don't hoard the stuff. There's people that have been hoarding the stuff 4+ decades now and they are still in the gutter. lol RGDS!

    No, there isn't any such people.

    Twenty years ago silver was about $4.60 per oz.

  • Mike59Mike59 Posts: 294 ✭✭✭

    Bid on what would have been my highest graded Saint. A PCGS MS-66+ 1927 last night on GC. Had highest bid until if asleep 10 minutes before auction ended. I’m kicking myself but I did get a $20 lib (although not a high grade)

    MIKE B.

  • blitzdudeblitzdude Posts: 5,263 ✭✭✭✭✭

    @dcarr said:

    @blitzdude said:

    @TwoSides2aCoin said:
    Bought, sold and ordered more, during the past week.
    Mostly the stuff blitzdude denigrates. Call it gutter but it feels like money to me.

    Nothing wrong with buying and selling. Just don't hoard the stuff. There's people that have been hoarding the stuff 4+ decades now and they are still in the gutter. lol RGDS!

    No, there isn't any such people.

    Twenty years ago silver was about $4.60 per oz.

    Yes 4+ decades ago gutter was $50ozt.

    The whole worlds off its rocker, buy Gold™.

  • EstilEstil Posts: 6,812 ✭✭✭✭

    In light of the recent drop in silver price I sure have caught silver fever! I can't afford to get all that much but I hope I can get all the silver FDR dimes and silver GW quarters I can and maybe if I'm real lucky a few Silver Eagles (I've been thinking of doing those since my college days; if only I did so back then when silver was $5ish/oz!!).

    Just so everyone here knows, I'm getting these for collecting...all that stuff about investment and hedge against inflation and whatnot is just a nice little side/fringe benefit, at least for my purposes.

    WISHLIST
    Dimes: 54S, 53P, 50P+S, 49S, 45D+S, 44S, 43D, 41S, 40D+S, 39D+S, 38D+S, 37D+S, 36S, 35D+S, all 16-34's
    Quarters: 61D, 52S, 47S, 46S, 40S, 39S, 38S, 37D+S, 36D+S, 35D, 34D, 32D+S
    74 Topps: 37,38,46,47,48,138,151,193,210,214,223,241,256,264,268,277,289,316,435,552,570,577,592,602,610,654,655
    1997 Finest silver: 115, 135, 139, 145, 310
    1995 Ultra Gold Medallion Sets: Golden Prospects, HR Kings, On-Base Leaders, Power Plus, RBI Kings, Rising Stars
  • RelaxnRelaxn Posts: 835 ✭✭✭✭

    Closing on another property Friday!

  • Mike59Mike59 Posts: 294 ✭✭✭

    @Relaxn said:
    Closing on another property Friday!

    Congratulations!! They ain’t making any more land..

    MIKE B.

  • derrybderryb Posts: 36,008 ✭✭✭✭✭
    edited August 4, 2022 5:23PM

    took advantage of the recent ebay bucks. $1823.25 ea. after ebay bucks and credit card rebate. took my chances with a red flag seller on the 2006, got him to lower his price and then asked if he had another one which he then listed at the same lower price. Found out that the ebay bucks does come through when using the "make offer" option. TPG site confirms the cert #'s, Sigma confirms the gold content.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    @dcarr said:

    @blitzdude said:

    @TwoSides2aCoin said:
    Bought, sold and ordered more, during the past week.
    Mostly the stuff blitzdude denigrates. Call it gutter but it feels like money to me.

    Nothing wrong with buying and selling. Just don't hoard the stuff. There's people that have been hoarding the stuff 4+ decades now and they are still in the gutter. lol RGDS!

    No, there isn't any such people.

    Twenty years ago silver was about $4.60 per oz.

    40 & 11 years ago, silver briefly hit $50.00. Great asset to speculate, in buying and selling, but not hoarding.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,008 ✭✭✭✭✭

    Uh-Oh!

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • Mike59Mike59 Posts: 294 ✭✭✭

    @derryb said:
    Uh-Oh!

    We need to be careful If Cramer says buy!! If he’s buying I’m selling…

    MIKE B.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Only down >$20 so far. Cramer must be losing his touch.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    In all fairness....He's been saying that for about 2 years and see what that got us.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • johnny9434johnny9434 Posts: 27,288 ✭✭✭✭✭

    @Meltdown said:
    I bought a $5 gold piece last week but have otherwise avoided buying silver at these premiums.

    +!. Silver premiums are to high

  • dcarrdcarr Posts: 7,878 ✭✭✭✭✭

    @blitzdude said:

    @dcarr said:

    @blitzdude said:

    @TwoSides2aCoin said:
    Bought, sold and ordered more, during the past week.
    Mostly the stuff blitzdude denigrates. Call it gutter but it feels like money to me.

    Nothing wrong with buying and selling. Just don't hoard the stuff. There's people that have been hoarding the stuff 4+ decades now and they are still in the gutter. lol RGDS!

    No, there isn't any such people.

    Twenty years ago silver was about $4.60 per oz.

    Yes 4+ decades ago gutter was $50ozt.

    45 years ago it was under $5.

    Your implication that people bought silver at $50 in 1980 and have continued to hoard it at that price for 42 years is not at all accurate.

    For one thing, "hoarding" means that someone has continued to accumulate the item over a period of time. Anybody who bought silver over a span of time would not have paid the $50 spike price the whole time.

    I was there in 1980 when the silver price had an artificial spike due to an attempted corner on the market. $50 was the "spot" price (very briefly). NOBODY ever paid that for physical silver. EVERYBODY was selling. The lines at coin shops were out the door and down the street. The coin shops would buy the silver, take their cut, and ship it off to refiners who were busy making it into 1000-oz bars to satisfy COMEX delivery contracts to the Hunt brothers. The most you could get for 90% "junk" silver coin was 21 times face value (and that was only for a very short time). That represented an extreme NEGATIVE PREMIUM at the time. A couple months later and the 90% junk silver was down to about 14 times face. And a couple years later it was down to about 4 times face where it hovered for quite a few years.

    So if a person had bought 90% "junk" silver coin on a regular schedule over many years they would have done reasonably well. At least, their purchasing power would have been preserved.

    Don't buy the spikes and don't sell the troughs. That is true with ANYTHING, not just silver.

  • blitzdudeblitzdude Posts: 5,263 ✭✭✭✭✭

    Yeah 6 months ago gutter was $26 today it's under $20. Stack on Sonny.

    The whole worlds off its rocker, buy Gold™.

  • Mike59Mike59 Posts: 294 ✭✭✭

    Just bought a 2006 Raw Buffalo today. Paid 6.1/2 percent over spot and was happy to get it. I also Agree with dcarr. I have rolls of 90% dimes from the 1969 that cost me $5.60 a roll and ive never stopped buying 90%. I would say my average is around 14 X. A bit high but ill take it. Good thing I dont need the money so it will most likely go to my kids. I love Silver, Gold, stock , Real Estate, Fixed income investments. I try to to be as diversified as possible. The one thing I dont do is tell anybody that the thing they collect is garbage.
    JMHO,
    Mike

    MIKE B.

  • Mike59Mike59 Posts: 294 ✭✭✭
    edited August 6, 2022 11:55AM

    @blitzdude said:
    Yeah 6 months ago gutter was $26 today it's under $20. Stack on Sonny.

    Why so mean? This is a friendly forum.

    MIKE B.

  • blitzdudeblitzdude Posts: 5,263 ✭✭✭✭✭

    @Mike59 said:

    @blitzdude said:
    Yeah 6 months ago gutter was $26 today it's under $20. Stack on Sonny.

    Why so mean? This is a friendly forum.

    Stating fact is not being mean. Gutter metal has been a terrible investment and you just confirmed it 2 posts above. You've been hoarding 90% since 1969 and your average is 14x which is the current 2022 price. Looks like it would be about a wash is 1969 dollars were equal to 2022 dollars.

    Diversification is wonderful, I've bought gutter, even made some $$$ flipping it. Can't say it was one of my better moves. THKS!

    The whole worlds off its rocker, buy Gold™.

  • dcarrdcarr Posts: 7,878 ✭✭✭✭✭

    @blitzdude said:

    @Mike59 said:

    @blitzdude said:
    Yeah 6 months ago gutter was $26 today it's under $20. Stack on Sonny.

    Why so mean? This is a friendly forum.

    Stating fact is not being mean. Gutter metal has been a terrible investment and you just confirmed it 2 posts above. You've been hoarding 90% since 1969 and your average is 14x which is the current 2022 price. Looks like it would be about a wash is 1969 dollars were equal to 2022 dollars.

    Diversification is wonderful, I've bought gutter, even made some $$$ flipping it. Can't say it was one of my better moves. THKS!

    The current wholesale price is 15.5 times face value. If you sell on eBay, even after fees and shipping, you can NET close to 20 times face (a little less for Roosevelt dimes, more for everything else).

  • dcarrdcarr Posts: 7,878 ✭✭✭✭✭
    edited August 6, 2022 12:48PM

    @blitzdude said:

    @Mike59 said:

    @blitzdude said:
    Yeah 6 months ago gutter was $26 today it's under $20. Stack on Sonny.

    Why so mean? This is a friendly forum.

    Stating fact is not being mean. Gutter metal has been a terrible investment and you just confirmed it 2 posts above. You've been hoarding 90% since 1969 and your average is 14x which is the current 2022 price. Looks like it would be about a wash is 1969 dollars were equal to 2022 dollars.

    Diversification is wonderful, I've bought gutter, even made some $$$ flipping it. Can't say it was one of my better moves. THKS!

    .

    @blitzdude said:

    "Stack on Sonny" ?

    That has nothing to do with any "facts".
    It is just another rude comment.

    .

  • semikeycollectorsemikeycollector Posts: 891 ✭✭✭✭✭

    Buying rare liberty $5 gold.

  • derrybderryb Posts: 36,008 ✭✭✭✭✭
    edited August 6, 2022 2:37PM

    @blitzdude said:

    Gutter metal has been a terrible investment and you just confirmed it 2 posts above. You've been hoarding 90% since 1969 and your average is 14x which is the current 2022 price. Looks like it would be about a wash is 1969 dollars were equal to 2022 dollars.

    silver's volatility makes it an excellent investment for those that understand what "buy low, sell high" means. Sorry that you thought you were supposed to buy it and put it under the mattress. Hopefully we have taught you something even if the lesson comes a little late.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • Mike59Mike59 Posts: 294 ✭✭✭
    edited August 6, 2022 4:37PM

    @derryb said:

    @blitzdude said:

    Gutter metal has been a terrible investment and you just confirmed it 2 posts above. You've been hoarding 90% since 1969 and your average is 14x which is the current 2022 price. Looks like it would be about a wash is 1969 dollars were equal to 2022 dollars.

    silver's volatility makes it an excellent investment for those that understand what "buy low, sell high" means. Sorry that you thought you were supposed to buy it and put it under the mattress. Hopefully we have taught you something even if the lesson comes a little late.

    The only thing under my mattress is a 4000 sq ft house in a very upscale neighborhood. I collect I don’t hoard. We’ll maybe I hoard gold but my average is way under spot. I just find it disgusting that u would use a coin/PM forum to tell others that they collect a “Gutter metal” . Listen pal I know what the gutter looks like and it’s not silver, trust me.
    Remember when you were a kid and u were told “ if u have nothing nice to say don’t say anything!!!!!

    MIKE B.

  • SoldiSoldi Posts: 2,012 ✭✭✭✭✭

    Another $50 top out and it won't make any difference. Best of luck to us all !!!

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Remember when you were a kid and u were told “ if u have nothing nice to say don’t say anything!!!!!

    Consider that the trolls are keeping the rest of us intellectually honest. He can't help it if he bought at the market top and has been clinging to the hope that someday he will break even. Most of us here don't think that way - we are either hedging, speculating or investing - but we aren't badmouthing the market when it doesn't do exactly what we want. Most of us here are realists.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,488 ✭✭✭✭✭

    @jmski52 said:
    Most of us here don't think that way - we are either hedging, speculating or investing

    You forgot "insurance". Haha

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    You forgot "insurance". Haha

    Says the expert money manager who backed up the truck to buy bonds, lol.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,008 ✭✭✭✭✭

    @cohodk said:

    @jmski52 said:
    Most of us here don't think that way - we are either hedging, speculating or investing

    You forgot "insurance". Haha

    Hedging is insurance. Night school might improve things for you. LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • Been making weekly stops at Nevada Coin & Jewelry, my local coin store in Las Vegas, and spending about $200 on small 1g gold bars and a few silver rounds. It's all about stack as much as you can, when you can!

    B. Lowe
  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Hedging is insurance. Night school might improve things for you. LOL

    lol, I had to take a pass at explaining this to him because it does get tedious responding to his pointless provocations.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CoinHoarderCoinHoarder Posts: 2,367 ✭✭✭✭✭

    Junk 90% silver, when the coins are nice, and the price is right.

    And, cheap, as problem free as possible, certified and raw silver dollars.

    And, I bought this on the BST a few days ago:


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