Are you Buying, Selling, or Waiting to back the truck up?

LukeMarshall · May 23, 2012 7:16AM

I was just wondering if you are buying at these levels, selling, or stacking paper to back the truck up at a lower level...

If your waiting, when do you intend to re-enter the market?

I'm confused and just kinda nibbling a bit...

Barndog · May 23, 2012 7:22AM

buying still.

GRANDAM · May 23, 2012 7:26AM

I loaded up the truck with silver a week ago but,,,,,,,, it was only a small 1/64 scale Tonka Truck

GrandAm

Baley · May 23, 2012 7:28AM

Been sitting tight, intend to buy some silver below $24, and sell some above $36.

Buying gold and platinum below $1330, and selling above 1700. Until one or the other happens, I'm happy with how much metal I'm sitting on.

Banemorth · May 23, 2012 8:00AM

I'm about where Baley is on silver except I'll buy at 25

Meltdown · May 23, 2012 8:29AM

I've been buying a little bit every other day or so for the last couple weeks. I'm pretty long term so I figure I'm safe buying while it's falling.
I'm not too concerned how far it falls during this little dip. I don't think it's dropping below $25.

morgantype · May 23, 2012 8:34AM

I made a good size purchase last week. I have plenty of time, so 27 or 24 or 18, I'll take it.

I will buy again in June when my bonus comes in.

mariner67 · May 23, 2012 9:02AM

Bought a little gold today.

1970SilverArt · May 23, 2012 9:15AM

Waiting for the time being but not by choice. I called 4 LCS today but no luck. The main LCS that I go to did not have anything but said to try again this Friday (5-25-2012). I was planning to go there to see if they had any silver art bars but it looks like I will have to wait this Friday to see if they have any silver art bars that I like and want to buy. I am patient. I can wait. Not a big deal.

Justacommeman · May 23, 2012 9:36AM

I bought some gold last weekend. MJ

derryb · May 23, 2012 10:09AM

buying silver ASE's

TwoSides2aCoin · May 23, 2012 10:17AM

Yes, yes and no.

OPA · May 23, 2012 10:22AM

Sitting tight...I'm in no rush to buy or sell PM's.

perkdog · May 23, 2012 10:48AM

Waiting to buy

Timbuk3 · May 23, 2012 10:51AM

Cautiously buying, more selective in my purchases.
Looking at silver to hit $23.00 !!!

michiganboy · May 23, 2012 11:10AM

Waiting for $18-20 range, till then I'm buying numismatic material.

tneig · May 23, 2012 3:00PM

Buying twice a week since Feb. More lately. Mostly S w a little G for fun. I don't thing Gold is still a good deal, but I think the silver is.

Guess it doesn't matter if it goes up or down. Depends on what I sell it for later down the road.

piecesofme · May 23, 2012 10:04PM

I'm not too concerned how far it falls during this little dip

$37 to $27 in a couple months isn't a big enough for you? My put-back "stack" is worth thousands less in 2 months. I've seen enough of the color red for awhile. How about a bounce?

and sell some above $36
oh yeah, and when's that supposed to be? Sure feels like longer than I'm willing to wait at this point. It's nice owning Silver, but the reality of it is that it's dead money until you can realize a gain from what is being held.

To answer the OP's ?, Timbuk3 and I are on the same page.

slinc · May 23, 2012 10:09PM

Buying as funds permit.

DrBuster · May 23, 2012 11:10PM

Same amount of $ 3 or 4 times a month. Sometimes I get more, sometimes less.

TJM965 · May 23, 2012 11:32PM

Any time I get a good deal at current price, I buy. If it goes down, oh well.

jmski52 · May 23, 2012 11:39PM

I bought some gold a couple weeks ago, and I've been nibbling on some singleton gold spouses a little bit both before and after my most recent larger buy.

pitboss · May 24, 2012 12:26AM

I bought $120 face silver 90% this morning.

And another $140 this afternoon.

Staircoins · May 24, 2012 4:24AM

Buying.

Stopped by a local B&M to see what was available in gold, but all that was on display was a 1 oz AGE that had been removed from a bezel and was badly scratched. They weren't willing to discount it, so I passed.

I asked the guy behind the counter if he had any others in back, and after checking he came out with two beautiful 1 oz'ers (2009), which I promptly bought for spot +5%. (They have my resale # on file, so no tax.)

As the guy was writing up the sale, the store manager walked by and saw what he was doing. She asked him "Why are you selling those? We paid over $1700 for them! We're losing money on them both!". He just shrugged and kept writing.

I don't think he was supposed to bring them out.

piecesofme · May 24, 2012 4:59AM

As the guy was writing up the sale, the store manager walked by and saw what he was doing. She asked him "Why are you selling those? We paid over $1700 for them! We're losing money on them both!". He just shrugged and kept writing.
I don't think he was supposed to bring them out.

No, it was meant to make you feel like you were getting a deal so you'll come back and buy more that they bought for way under spot. Don't be fooled.

Dealers don't stay in business for decades selling items for under $200 what they paid for it.

Cakes · May 24, 2012 5:50AM

<< As the guy was writing up the sale, the store manager walked by and saw what he was doing. She asked him "Why are you selling those? We paid over $1700 for them! We're losing money on them both!". He just shrugged and kept writing.
I don't think he was supposed to bring them out.

No, it was meant to make you feel like you were getting a deal so you'll come back and buy more that they bought for way under spot. Don't be fooled.

Dealers don't stay in business for decades selling items for under $200 what they paid for it. >>

I agree, they didn't lose a cent.

Staircoins · May 24, 2012 7:48AM

<< As the guy was writing up the sale, the store manager walked by and saw what he was doing. She asked him "Why are you selling those? We paid over $1700 for them! We're losing money on them both!". He just shrugged and kept writing.
I don't think he was supposed to bring them out.

No, it was meant to make you feel like you were getting a deal so you'll come back and buy more that they bought for way under spot. Don't be fooled.

Dealers don't stay in business for decades selling items for under $200 what they paid for it. >>

They didn't lose $200, but I don't doubt that they did lose some on the deal. I've known these guys for years, and they're the kind of place that pulls everything out of the cases when metals are falling, and puts it all back out when prices are back up.

The problem was that this guy knows that I'm a good wholesale customer (both buy & sell) that has dealt with them for years, so he was trying to give me special treatment, and he just got a little carried away not thinking where spot was.

VikingDude · May 24, 2012 10:35AM

Waiting.

BAJJERFAN · May 24, 2012 12:39PM

<< 

<< As the guy was writing up the sale, the store manager walked by and saw what he was doing. She asked him "Why are you selling those? We paid over $1700 for them! We're losing money on them both!". He just shrugged and kept writing.
I don't think he was supposed to bring them out.

No, it was meant to make you feel like you were getting a deal so you'll come back and buy more that they bought for way under spot. Don't be fooled.

Dealers don't stay in business for decades selling items for under $200 what they paid for it. >>

They didn't lose $200, but I don't doubt that they did lose some on the deal. I've known these guys for years, and they're the kind of place that pulls everything out of the cases when metals are falling, and puts it all back out when prices are back up.

The problem was that this guy knows that I'm a good wholesale customer (both buy & sell) that has dealt with them for years, so he was trying to give me special treatment, and he just got a little carried away not thinking where spot was. >>

What would you have done had she nullified the sale?

OnlyGoldIsMoney · May 24, 2012 1:21PM

I have added 100 ounces of silver this week plus some more gold. I viewed yesterday's dip in silver to around $27.30 as a fine opportunity.

Konahead · May 24, 2012 5:04PM

Buying little of both gold and silver at this point

Staircoins · May 24, 2012 10:10PM

<< 

<< 

<< As the guy was writing up the sale, the store manager walked by and saw what he was doing. She asked him "Why are you selling those? We paid over $1700 for them! We're losing money on them both!". He just shrugged and kept writing.
I don't think he was supposed to bring them out.

No, it was meant to make you feel like you were getting a deal so you'll come back and buy more that they bought for way under spot. Don't be fooled.

Dealers don't stay in business for decades selling items for under $200 what they paid for it. >>

They didn't lose $200, but I don't doubt that they did lose some on the deal. I've known these guys for years, and they're the kind of place that pulls everything out of the cases when metals are falling, and puts it all back out when prices are back up.

The problem was that this guy knows that I'm a good wholesale customer (both buy & sell) that has dealt with them for years, so he was trying to give me special treatment, and he just got a little carried away not thinking where spot was. >>

What would you have done had she nullified the sale? >>

I would have been disappointed, but understood and let them out of it. I've done business with them for years, and continue to do so in the future. No need to let one deal gone bad kill a relationship.

Unfortunately, the counter guy probably got a tongue lashing after I left. I might not get as good of a deal the next time I'm there.

bronco2078 · May 24, 2012 10:51PM

Bought a bunch of silver last week hoarding cash this week in anticipation of a long holiday weekend. A lot of news could come out this weekend metals might be cheaper next week.

People spend a lot of money on the first weekend of summer they may need to sell to raise cash next week, deals might start showing up Sunday night on ebay and craigslist

piecesofme · May 24, 2012 11:35PM

A lot of news could come out this weekend metals might be cheaper next week.

Any rise today will be nothing more than a head fake for a downturn Tuesday...never buy/hold going into a long weekend. You heard it hear first. Hope I'm dead wrong, but I really doubt I will be this time.

tneig · May 25, 2012 12:28AM

<< A lot of news could come out this weekend metals might be cheaper next week.
Any rise today will be nothing more than a head fake for a downturn Tuesday...never buy/hold going into a long weekend. You heard it hear first. Hope I'm dead wrong, but I really doubt I will be this time. >>

ok, sounds good. But may buy a few more prospector coins for fun. Buck more than earlier this week, but I still need a fix. The sdb still has a little corner I can squeeze something in.

Its nice to see the PMs right in front on you. My retirement investments went down, but its sure nice to have the PMs in hand.

mikeyg · May 25, 2012 2:04AM

At this point I'm waiting for silver to drop again.If it does then I get rolls,if it doesnt I get my usual handful of coins.Either way I am happy.

derryb · May 25, 2012 2:07AM

good news from euroland (true or not) will boost metals and equities.

Pokermandude · May 25, 2012 2:40AM

At this point, I'm buying any and all deals I can scoop up. We might not be at the absolute bottom, but IMO we're pretty close. I'd rather catch it near the bottom, than miss the true bottom and buy after it has rebounded up significantly.

tneig · May 25, 2012 2:59AM

<< At this point, I'm buying any and all deals I can scoop up. We might not be at the absolute bottom, but IMO we're pretty close. I'd rather catch it near the bottom, than miss the true bottom and buy after it has rebounded up significantly. >>

Yes! And if it goes down, I'll get more.
This was a good deal, and I got it. A man needs some protection over the holiday weekend!

10 EngelHard Prospectors..
(3 stagecoaches last night)

pitboss · May 25, 2012 5:39AM

<< At this point, I'm buying any and all deals I can scoop up. We might not be at the absolute bottom, but IMO we're pretty close. I'd rather catch it near the bottom, than miss the true bottom and buy after it has rebounded up significantly. >>

That is what I am doing. My total for yesterday was $300 face.

piecesofme · May 25, 2012 7:25AM

Based on what the people buying have said on this thread, with regards to Silver, it seems the majority are buying 90%...not .999. I guess that solves the age old question of what the majority of folks buy on dips. I'll remember this thread the next time someone does a poll if they prefer 90% or .999.

derryb · May 25, 2012 9:59AM

lowest premiums/best prices with 90%. As faith in the market grows so will the willingness to pay more premium. Market trend appears to affect the .9 vs. .999 decision.

tneig · May 26, 2012 8:45AM

I'm starting to worry about the PM prices 'creeping up' already. I am hoping it holds a bit more. Only got one buy in the pure $27's. We'll see tuesday and if it drops again. Get some more ASE's since you guys recommend so highly.

ps. I would buy %90 on ebay because you can get some deals at or just under melt if you chase sales and bid at 3am. But I don't think I'll ever buy silver bullion at the price they have to sell it there. I bought some Stagecoach bars for $31 from NW mint, which was $39++ on ebay.

Anywho, the 6 beer sampler at the brewpub today helped me get past my PM addiction......

piecesofme · May 29, 2012 11:20AM

A lot of news could come out this weekend metals might be cheaper next week.

Any rise today will be nothing more than a head fake for a downturn Tuesday...never buy/hold going into a long weekend. You heard it hear first. Hope I'm dead wrong, but I really doubt I will be this time.

Yes! And if it goes down, I'll get more
This was a good deal, and I got it. A man needs some protection over the holiday weekend!

I'm starting to worry about the PM prices 'creeping up' already. I am hoping it holds a bit more. Only got one buy in the pure $27's. We'll see tuesday and if it drops again

Well, you certainly had some buying opportunity today, and I will add to what I said last week (really was on record here saying this since $33)...I think you're going to have plenty more. Silver aint doin' nothin' but heading down more imo.
I'm back to really thinking about shorting the hell out of SLV.

jmski52 · May 29, 2012 2:01PM

I'm back to really thinking about shorting the hell out of SLV.

Let's see. It is almost June. November is, let's see - 5 months out. Metals usually slow down for the summer months.

Shorting may be ok in the near term, and your intuition may be correct. However...

The election is in, let's see - November, 5 months out. Surely the administration will do EVERYTHING to make the economy "look good" for the next 5 months, right?

That would mean money creation for more spending, I think. My former father-in-law had a funny saying, "there you go - thinking again".

And then, there's Europe. I can only absorb so much in 1 day's time about how badly Europe is screwed. I'd hate to be a German living in Germany now. Almost *everybody else* is going to be talking about how "cruel" you are, almost as if you were a Republican in the US.

Which always means that the politicians will vote for more free money, more benefits, more bank bailouts and more debt. Unfortunately, the math doesn't always work out, which is why we are seeing bond premiums jump again in Spanish debt, not to mention Greece and whatever they are doing.

Lather, rinse, repeat. Silver won't have to wait 30 years. I wouldn't be too short for too long. Not everyone's a cohodk.

piecesofme · May 29, 2012 10:29PM

Shorting may be ok in the near term

That's exactly the plan. Since I can't make anything on the physical right now, I'm forced to short to make some $. I don't need any more physical, I'm full. I'd rather short SLV and hopefully make a few bucks, then the physical is beat down to whatever it is at that time, then THAT is the time to buy the physical.

Are you Buying, Selling, or Waiting to back the truck up?

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