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Anybody Buying? What are you Buying?
Mike59
Posts: 297 ✭✭✭
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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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.
If I could find 90% at 14x1 I’d buy all I could also. Nice
MIKE B.
Gold. RGDS!
The whole worlds off its rocker, buy Gold™.
I bought a $5 gold piece last week but have otherwise avoided buying silver at these premiums.
Click on this link to see my ebay listings.
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
Not buying for stacking purposes but if I see something I really like I'll buy.
I'm buying GOAU. It's on sale.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Ordered another 1000 oz ag.... for another buyer ...down in the gutter , brudder.
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.
--Severian the Lame
it's more a function of asset diversification than market price.
This makes more sense than trying to time anything.
I knew it would happen.
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 ?
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.
In God We Trust.... all others pay in Gold and Silver!
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.
Au. Bought my fair share last night (though the premiums are indeed painful) because I wanted to get in before the collapse! Oh wait.
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™.
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.
Keep an open mind, or get financially repressed -Zoltan Pozsar
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
I have been looking and been able to buy a few vintage silver bars. Hard to find though,
Cashback from Mr. Rebates
No, there isn't any such people.
Twenty years ago silver was about $4.60 per oz.
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.
Yes 4+ decades ago gutter was $50ozt.
The whole worlds off its rocker, buy Gold™.
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.
Dimes: 54S, 53P, 50P, 49S, 45D+S, 44S, 43D, 41S, 40D+S, 39D+S, 38D+S, 37D+S, 36S, 35D+S, all 16-34's
Quarters: 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
Closing on another property Friday!
MIKE B.
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.
Keep an open mind, or get financially repressed -Zoltan Pozsar
40 & 11 years ago, silver briefly hit $50.00. Great asset to speculate, in buying and selling, but not hoarding.
Uh-Oh!
Keep an open mind, or get financially repressed -Zoltan Pozsar
We need to be careful If Cramer says buy!! If he’s buying I’m selling…
MIKE B.
Only down >$20 so far. Cramer must be losing his touch.
I knew it would happen.
In all fairness....He's been saying that for about 2 years and see what that got us.
+!. Silver premiums are to high
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.
Yeah 6 months ago gutter was $26 today it's under $20. Stack on Sonny.
The whole worlds off its rocker, buy Gold™.
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.
Why so mean? This is a friendly forum.
MIKE B.
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™.
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).
.
"Stack on Sonny" ?
That has nothing to do with any "facts".
It is just another rude comment.
.
Buying rare liberty $5 gold.
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.
Keep an open mind, or get financially repressed -Zoltan Pozsar
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.
Another $50 top out and it won't make any difference. Best of luck to us all !!!
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.
I knew it would happen.
You forgot "insurance". Haha
Knowledge is the enemy of fear
You forgot "insurance". Haha
Says the expert money manager who backed up the truck to buy bonds, lol.
I knew it would happen.
Hedging is insurance. Night school might improve things for you. LOL
Keep an open mind, or get financially repressed -Zoltan Pozsar
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!
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.
I knew it would happen.
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: