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Should I buy now?

I'm taking a much needed break from coin collecting and am looking to move my funds into PMs for the time being. I don't have a ton of disposable income to spend at the moment, so was looking at picking up around 20 +/- ounces of silver and maybe 2 +/- grams of gold to start out with.

With the current market being at its highest, should I still go ahead and make a few light purchases or wait a few days and see if there is a little drop?

Thanks all!

And p.s. - This forum is a great asset in addition to the U.S./World Coin forums I normally frequent here, wish I would've visited sooner. I probably spent 2+ hours just going through the silver bullion picture thread yesterday. image

Comments

  • It is always a good time to buy but it depends on what your plan is.
    If you want to hold your PM for long time, "keep on stackin' " (SB™) week after week.
    I, sometimes, need to sell my PM to get some cash, so I am not buying much in this period waiting for a drop in Ag/Au. I am not sure though that is going to happen soon!
    Check the BST thread in this forum, you may find something nice and fairly priced.
  • DrBusterDrBuster Posts: 5,301 ✭✭✭✭✭
    I like silver, just unsure what it's going to do with the over $21 price tag for a stretch.
  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭
    My approach - dollar cost average. I pick some up at semi-regular intervals. I do not know where the price will be next week or next year.
  • It is always the right time to buy for the right reasons. More important than timing any individual purchase is the bigger financial picture for the person. During my entire time on these forums, I've advocated slow and steady accumulation. I am not a fan of "all in" or "all out" moves.

    That might change if the markets go parabolic. In a bubble market, those that continue to average in with steady purchases can suffer a lot of financial damage. It isn't a bubble yet, but there is some foam at the edges. When those that made fun of my $3000 gold price projection from years ago, start advising me to buy gold and silver, and even bragging about their profits, that will the time to cut way back and start heading for the exits.



  • Consider that central banks have rekindled interest in gold as part of their monetary reserves after the worst economic crisis since the Great Depression. Gold is often used as a hedge against economic uncertainty and market volatility. A lot of big money is causing the gold price to escalate.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    maybe look at what you have in your collection that you can part with, and use those proceeds to buy PM.

    just as long as what you are parting with will never (at least unlikely) give you sellers remorse!

    also if you can try to do a monthly "program" buy. set aside what you can budget in $$$ for PM and buy. to start just pick a day, don't be frozen with the minute up and down ticks. when you get a better feel maybe you can time a physical purchase on a down tick, just don't fret. i believe (and a majority here) it's all going higher anyway.

    a VERY wise man said it's all about how many ounces you have and not being concerned about the price paid (something like that)

  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    correction coming shortly, stack you cash.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>correction coming shortly, stack you cash. >>



    Hope so, 'cause I want more. Buy the dips...if you can find 'em.


  • << <i>correction coming shortly, stack you cash. >>



    Not yet. Wall Street will wait until more folks have bought in and then they'll yank out their profits.
  • RyGuyRyGuy Posts: 1,459 ✭✭✭
    Thanks for the comments everyone.

    I decided to start slow and just purchased two 1 gram gold bars (why I waited, I'll never know). I'll probably just keep on adding that amount every two weeks or so since school/books kick my ass rather frequently. image


  • << <i>

    Not yet. Wall Street will wait until more folks have bought in and then they'll yank out their profits. >>



    I believe the paper game is somewhat in control too, but something tells me that even Wall Street may soon not
    be able to stop this bull from stampeding their ability to have control in this economic environment.


  • << <i>

    << <i>correction coming shortly, stack you cash. >>



    Hope so, 'cause I want more. Buy the dips...if you can find 'em. >>



    I agree. Would love to see 1,100 once again. Well, I guess a guy can dream, can't he image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I'm with derryb. There "should" be a better opportunity coming in mid to later October. Note I didn't say "will."

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Steve27Steve27 Posts: 13,267 ✭✭✭
    No, it's too late.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • jmski52jmski52 Posts: 22,308 ✭✭✭✭✭
    Buy only what you can afford to accumulate. Now? Yes! Buy slowly, regularly and without fail until you can't stand it any longer. Then sit.

    If you plan on buying now in order to sell when silver reaches $24.00, don't bother.

    If you think it would be a problem if silver went to $16.00 - don't buy, don't buy, don't buy.

    Red Tiger has some good advice. The price has not gone parabolic, so you can still accumulate.

    In 1980, you could see a parabolic move taking shape, and it didn't happen overnight. On a chart, it looks impressive, but there is a different dynamic when it is actually happening. The mood swings to outright optimism about the PRICE, and when you sense that your finances are invulnerable to any damage, get out.

    It's a counterintuitive move when you need to take it.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    start stacking American Eagles in any metallic color (avoid the painted oness image)

    The decline from democracy to tyranny is both a natural and inevitable one.

  • meluaufeetmeluaufeet Posts: 746 ✭✭✭
    Get to know your local B&M's... look around for different sources of 'junk' silver (like older cashiers)... study before you buy (most of us makes mistakes)... watch your shipping and taxes... document buy-in costs... store them well... be cautious of who you tell about your stash... and don't fall in love with it.

    Congrats on your purchase... conventional wisdom is periodic dollar cost average...
  • Here's an inexpensive deal:

    Beaumont Boys Another AGE deal

    Postby scotchbriar on Tue Sep 21, 2010 7:59 pm
    Linky

    Just got the latest edition of American Rifleman (Oct '10).
    One 2010 $5 AGE for $138 shipped.
    Offer expires 10/15/10. Limit one per household.

    Vault Verification: UAMRFRG1010

    1-800-459-2646
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    My older sister told me years ago : " Quit shouldn' on yourself "
    I quit shouldn' on myself back in 1999.
    image
    when gold was here and silver was here:
    image


    and David Hall said right on these boards about 5 years ago to GO LONG ON GOLD


    Here's the chart five years ago.

    GOLD
    image
    SILVER
    image



    And at the CLOSE of BUSINESS today we have

    GOLD at $1318.60
    SILVER at $22.09


    There's little time for "SHOULD". Won't you agree ? Whereever one decides to enter, it seems history is on their side.
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