I may buy silver
konsole
Posts: 795 ✭✭✭
with all the talk of silver prices expected to go higher and higher its gotten me interested in buying silver. If I did buy it would probably be a maximum of say 2k or 3k. Is there real credible evidence that the price will go very high in the not too distant future, or is it all just rumors? I know there are alot of places to buy but what about selling? and what kinda of difference is there between buying and selling price?
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<< <i>If I did buy it would probably be a maximum of say 2k or 3k. >>
Two or three thousand dollars or ounces?
I bought the green govt holders unopened. I calculated the price of my purchase and compared it to what ebay was selling for. I calculated ebay fees and paypal fees and came up with a price I would have to sell them for to break even. Of course anything over is profit. I decided these rolls sell without any problems on ebay and I figure I could sell them pretty quick if I wanted, even if it was for a lose, which is possible.
I figure silver could be cut in half(worse case), althought I don't think it will, but I'm prepared to lose half my investment, which would suck. An investment is an investment, you win some you lose some.
Good Luck.
<< <i>
<< <i>If I did buy it would probably be a maximum of say 2k or 3k. >>
Two or three thousand dollars or ounces? >>
dollars, and I may go higher if you guys think that amount isnt really enough.
roadrunner
Freak
against a commodity to hold it down or they would go straight up forever. The
price has already tripled in the last 12 years so there is more risk now than there
has been in a long time. It's probable that if silver's price isn't already ahead of
itself it will be in the near future and then it will have to work through the supplies.
This being said, there is a high probability that someday investors attitudes to
silver will change. It exists in very small total value compared to most necessary
things in the world and is a sort of quasi-money. The demand is likely to grow ex-
ponentially in the future until it is constrained by supply. This is a prescription for
far higher prices.
It would be better to start steady purchases of small amounts. Use dollar cost aver-
aging, or better, try to buy a little more on dips. If it breaks out then go ahead and
make a couple more purchases but don't chase it. It's quite possible that what ap-
pears to be a breakout will be nothing more than a temporary spike. It's best to buy
it for the long haul as a speculative investment but there are some people who make
money on short term trades.
My guess is silver will move to $12 before moving violently sideways for a while and
then go up from there. Watch oil and the dollar. Discount moves associated with
dollar drops and buy more when oil increases. You also need to keep an eye on gold
since this will help to see dollar changes when all the currencies move in tandem.
First chance I get I am unloading my junk silver to buy smoe REAL coins. Maybe (gasp!) copper coins!
Physical silver inventories as well as production are at an all-time low.
Silver ETF will gobble up 180+ million ounces, US Government is out of silver and must buy it on the open market.
Downward pressure on consumption of siver from drop in photographic film is offset by use in digital photo processing.
Lots of bullish signs for silver, but these are just signs. It's speculation, pure and simple.
One thing to consider is that "silver" as a potential store of value is not exactly a household concept - when your buddies at work start talking about it at the water cooler, that would be the time to take your profit, IMHO. From what I've seen, that hasn't happened yet.
The last factor is the relative importance of 2-3K in your daily life. Buying silver is not exactly as risky as, say, putting it all on black in Vegas - but can you afford to take a downside at 2-3K? How 'bout 20-30K? Whats your comfort level on a 20% downside?
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
The bell just tolled.
Knowledge is the enemy of fear
<< <i>with all the talk of silver prices expected to go higher and higher its gotten me interested in buying silver. If I did buy it would probably be a maximum of say 2k or 3k. Is there real credible evidence that the price will go very high in the not too distant future, or is it all just rumors? I know there are alot of places to buy but what about selling? and what kinda of difference is there between buying and selling price? >>
let me rub my crystal balls, oh wait, why would i want you to know?
all the speculation seems to be driving the market... does anyone know the where-abouts of the hunt bro's as we speak
edit for spelling
Go BIG or GO HOME. ©Bill
<< <i>Geez, no one would touch the stuff when it was $4 an ounce!!
First chance I get I am unloading my junk silver to buy smoe REAL coins. Maybe (gasp!) copper coins!
Oh, I wouldn't say that "nobody" would touch the stuff. I was touching it and shoveling it in as fast as I could.
First chance? Send me a PM, I am always buying. I'll be happy to give you that chance.
I just love junk silver, even at today's prices. I'll beat your brick and mortar store prices and save you the hassles of eBay and all the fees.
I can still remember buying 90% coins at 2.7 times face. Doesn't seem like it was all that long ago, either.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>I remember buying canadian silver maples for $3.75 >>
OK............ I remember the Edsel.
Seriously, I hope you bought a lot of them. I never sought out the bullion coins due to the premium, but I've picked up quite a few from people bailing over the years.
How long ago was that? Maples at $3.75? What was the premium over spot? That almost sounds too cheap.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
My thinking is to wait for a decline in price and them possible add some.....
<< <i>Silver being $10.87 right now, what can I expect to pay for 1 oz. of silver bullion? If I was to turn around and sell that 1 oz. while it was still at $10.87 how much could I expect to get, and what are some companies that buy silver bullion. >>
You might want to buy the physical metal as a hedge against a failing dollar instead of as a speculative investment.
If you want something with more liquidity or leverage, buy the mining shares or upcoming silver ETF.
<< <i>I think it is all speculation at the present time.....
My thinking is to wait for a decline in price and them possible add some..... >>
We'll see a decline, a small one and then back up again. It's always a staircase.
I expect the next fallback soon, second week of April, give or take. Maybe sooner. I study the calendar and follow the trends that have repeated themselves for a couple of decades now. Only now we are dealing in much larger swings.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>
<< <i>Geez, no one would touch the stuff when it was $4 an ounce!!
First chance I get I am unloading my junk silver to buy smoe REAL coins. Maybe (gasp!) copper coins!
Oh, I wouldn't say that "nobody" would touch the stuff. I was touching it and shoveling it in as fast as I could.
First chance? Send me a PM, I am always buying. I'll be happy to give you that chance.
I just love junk silver, even at today's prices. I'll beat your brick and mortar store prices and save you the hassles of eBay and all the fees.
I can still remember buying 90% coins at 2.7 times face. Doesn't seem like it was all that long ago, either. >>
Just out of curiousity, what are everyone's local B&M dealers selling and paying for junk silver now? I checked with 3 in my area (eastern PA) and was quoted 7.3, 7.7, and 7.8x face to buy and 6.1, 5.5, and 6.0x face to sell. These were for $1,000.00 face bags, so there would probably be a premium for smaller amounts.
<< <i>Silver being $10.87 right now, what can I expect to pay for 1 oz. of silver bullion? If I was to turn around and sell that 1 oz. while it was still at $10.87 how much could I expect to get, and what are some companies that buy silver bullion. >>
<< <i>dollars, and I may go higher if you guys think that amount isnt really enough. >>
With $3K to invest I would go with something I know about. Silver is just another commodity like corn and pork bellies. All commodity markets work the same, the pros make money most of the time and the amateurs lose money most of the time. The pros are loving life right now because silver is in the news and people are talking about it around the water cooler. I saw the article about the record high prices on cnn.com yesterday and I am sure it was in the news elsewhere. What will happen now is thousands of amateurs will pour a couple of thousand dollars each into the market driving prices a little higher. The pros will take their profits and the price will fall. If the pros are interested they will get back in and the market may rebound, maybe even to higher levels. Who knows but I think the most likely scenario is most amateurs will ultimately be stuck holding bulk silver that has lost money.
<< <i>With $3K to invest I would go with something I know about. Silver is just another commodity like corn and pork bellies. All commodity markets work the same, the pros make money most of the time and the amateurs lose money most of the time. The pros are loving life right now because silver is in the news and people are talking about it around the water cooler. I saw the article about the record high prices on cnn.com yesterday and I am sure it was in the news elsewhere. What will happen now is thousands of amateurs will pour a couple of thousand dollars each into the market driving prices a little higher. The pros will take their profits and the price will fall. If the pros are interested they will get back in and the market may rebound, maybe even to higher levels. Who knows but I think the most likely scenario is most amateurs will ultimately be stuck holding bulk silver that has lost money. >>
With all due respect, I don't think you could be more wrong if you tried.
Take your own advice and stick to something you know about.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>With all due respect, I don't think you could be more wrong if you tried.
Take your own advice and stick to something you know about. >>
I definitely will stick to stuff I know about. I did not intend to make a broad statement about commodities markets even though I did:-) Sorry about that. My point is that if I were looking to jump into a market that is at a 20+ year high I would want to know how the market works, what drives it, and the fundamental reasons of why it should go higher. Because this is the Internet I am assuming the original poster does not know much about any of this since they asked about buy/sell margins, whether $3K was "enough", and how to sell.