Would I be crazy to start buying silver now?

justbored

I have been wanting to start buying bullion for awhile now. I am thinking about taking advantage of the APMEX $1.49 over spot sale. At current silver prices would I be crazy to start buying silver now? All opinions would be appreciated. Thanks.

derryb

As long as it continues to move sideways I'd build my cash for better buying opportunities and hope they present themself. I hope they do not, but they may very well do so.

chumley

I.m nibbling

mkman123

do what chumley is doing, buy a little bit here and there. That way if it tanks, your not out a lot of money but if it goes up then what you did buy goes up. Buy a little here and there is great. If silver drops and you didn't spend it all you at least have money to buy at the drop.

jmski52

Not at all. Not crazy.

secondrepublic

not crazy, but certainly taking a significant risk.

hchcoin

I work with a few people who are buying a few hundred dollars every paycheck regardless of the price and they were happy when the price dropped.

TheBigB

It's crazy, unfortunately we live in a crazy world right now.

I remember people saying the same thing when gold was at $600.

sbeverly

Buy in quantities that would not keep you up at night, if the price moved against you.

OPA

<< <i>not crazy, but certainly taking a significant risk. >>



No more of a risk than dabbling in the stock market...over the long haul, you'll do ok in both. Maybe

Just remember the old adage...the greater the risk etc...

mikeyg

Saw that price on apmexs website.Bought 5 ounces for starters. if it goes down no big deal.Will buy more maybe.

morgantype

Just use your mad money.

A little at a time.

Eventually you'll do the math and say to yourself, "wow, I have 1000 worth of silver!"

It's a good feeling.

FullCameo

Yes you can start now, you will not be crazy. A few years from now, you will know if you made the right move. I'm betting you will be satisfied.

mrearlygold

Not crazy. Accumulate a little as time goes on.

gsa1fan

Your answer's on a Precious Metal forum may be biased

Welcome to our world

BigE

We are only 10.00 off the recent high, gold is going to 1600 soon, silver will be over 50.00, buy, buy, buy!----------BigE

secondrepublic

No one knows where prices will end up. I would not be surprised to see silver spike over $100 or fall to under $20. Keep in mind you are entered well into the bull market. Less than a year ago silver was under $20....

pf70collector

Platinum was knocked down by 2/3s in 08. Almost the same happened for silver last month. Platinum is up to $1800 from a low of $800. Couldn't keep it down even when the economy was down. Maybe it was all those free dollars from the fed flowing into Platiunum.

FistFullOfDollars

I try and buy a little every week, it is better than spending it on other things.

greatnortherncoin

buy buy buy

justbored

thanks everyone for the excellent responses!!

AUandAG

My wife and I decided about 10 years ago to buy 90%. We used only money that would
have been used to go out to eat. Yep, we used to do that a lot and I did everyday at
work. Started taking bag lunches. Did not give up one other thing (trips, parties, etc).
Instead of going out for lunch/dinner on the weekends we had homemade popcorn (we both
love a good bowl of popcorn) instead.
The money we saved went into silver. A lot, LOT of silver coin. Dimes to Dollars.
We have since departed with our little hoard to buy a new home that we get in 10 days.
We were hoping to get it for cash but alas, we will have a mortgage. But, the good news
is that our mortgage payment will be $211 per month. Heck, that's 1/2 of my car payment!
We never looked at the price, we just bought every month and usually several times
a month. Stacked, stacked and stacked.

Was it worth it? Hell yes, I'm 25 pounds lighter now, and have a lot more money every month
to spend on whatever I please (including more coins!).

So, to answer the OP's question, yes buy now, and tomorrow and next week, etc, etc.

bob

PS: I think we averaged 8-10 ounces a month (more in the beginning and less lately).

TheBigB

<< <i>Was it worth it? Hell yes, I'm 25 pounds lighter now, and have a lot more money every month
to spend on whatever I please (including more coins!). >>



That's great, I never heard of the silver diet before.

roadrunner

Silver got ahead of itself in April and I think the PTB took advantage of that fact to induce a major smackdown of the likes not seen since 2008.
If one intends to hang on for up to 5 yrs I think you'll still see silver reach the same high as 1980 adjusted for the CPI, or $140. The recent slide
has probably not changed the long term outlook.

Silver's around a level now where it probably should have been without the hype of the last few months.

roadrunner

streeter

This last thursday and friday I visited a couple of shops ....which I normally do a week before Long Beach in order to make sure the out of towners don't get my cherrypicks..

anyway...I noticed not a whole lot of silver eagles or 90% for sale at $37-38 spot. Some sad looking rounds was all one guy had. He was selling ASE for $42.

I'd say the stackers are still at it and not selling back into the market. If they are selling, other people are buying.

But it was interesting to me that the guy who had the dismal rounds told me he wholesaled out $500 face of 90% because he is uncomfortable with the market. Go figure. As he was selling to TWO silver buyers when I was in the shop.

I do love and admire his pricing on UNC and PR 1890-1970 foreign silver...he puts it out there at a little over spot. Always a good feeling to help him out and get the foreign bullion out of his store. 1890's UNC two marks at spot or UNC third reich 5 marks at spot. Once or twice a year the foreign wad goes out to my foreign guy and back comes a check. Then Off I go to buy a piece of yellow metal.

Happy Memorial Day everyone and don't whine. Things could be a lot worse, even if you are about to move into your car. Just take the transponder out of it so they can't find you to repo it.

ChrisRx

Only crazy if you go "all in."

Konahead

<< <i>Yes you can start now, you will not be crazy. A few years from now, you will know if you made the right move. I'm betting you will be satisfied. >>



I agree. I think we will still see dips, but the enviornment that helps drive the pm market is still in phace with no hope for improvement. I have been buying for 15 years and remember when silver was $14 and this same discussion was going on. Look at this as another place to park some cash and don't put all your eggs in one basket.

CCC2010

So which one are you guys buying... the 90% or the .999 silver bars?

derryb

<< <i>Only crazy if you go "all in." >>


I'm crazy for silver.


<< <i>So which one are you guys buying... the 90% or the .999 silver bars? >>


Any form that presents itself at a good price....it's all silver and it all moves up or down with spot.

BigRick

No.

lightcycler

I've bought at $10 and $45. I love it all the same

dontippet

I thought I was crazy when I started buying at $19.30 in December of 2009.

Baley

it can be good to start with a small position in an asset class of interest (such as metals, stocks) and build position over time with dollar cost averaging, maybe even swing trading with volatility. be cautious after a large, long bull run, doesn't mean it can't continue higher, but consider possible regression to longer term averages