Did you add any silver sub $26.50 spot?
OnlyGoldIsMoney
Posts: 3,358 ✭✭✭✭✭
I added 80 ASE's just before the Asian open last night. Others are waiting for $23 or lower.
Did anyone else buy?
Did anyone else buy?
NO END IN SIGHT LIB $2.50'S CAC ONLY
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
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I was busy yesterday and I missed a couple of good deals!
Hope for a drop next week because I need to average some expensive purchases I made a while back!
But i did order a kilo last friday at around 26.75
It's all about what the people want...
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---80! Very Nice...Nice spot. Congrads. Tubes? (ahh, so its the asian market spiking at night..)---
Noon today is my local pawn shop buy time so I was hoping it would hold, down./.. Its going down a bit.
(d and p, this is the little guys sideways buy time, let it stay low... It will be $36 in Oct)
My Fri addiction, if the pawn shop fails me, are buffalo rds at the local shop for $29 (still better than apmex)
(If it hits $23 I'll be buying, but it will also start stinking around here. I'll be laying low.)
<< <i>went to two local shops to purchase some fractional gold eagles, ASE, or 90% halves & quarters, nothing...the creel came home empty >>
Similar experience for me at LCS's. ASE's available for $32 each when silver was around $27.
I ended doing far better at Gainesville for 2012 rolls of ASE's even factoring in the extra cost per ounce of using my credit card.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
The problem was that the premiums kept getting LARGER as the spot price went down.
Even when silver fell from 29-27 the ASEs were sti priced at 30.5 or so.
I did pick up 10 Engelhard prospectors for 28.5 yesterday, that gives you a feel for the premium. The ASEs were priced at 29.5 yesterday (finally being priced lower than 30 yesterday.
This is all cash and carry at the local B&M, no waiting, no shipping etc.
To me, it is worth buying here for this exact reason.
No silver here but I snagged a 20 franc gold yesterday for $300 a little over spot but its a nice 1855-BB in XF
I like my world gold , but the pickings have been slim lately so I jumped on that one.
I just snagged a 5oz year of the dragon bar in plastic for 27.6 per oz/$138. Great pawn shop!
(apmex would have been $152 - no longer interested in their full dragon set for their price)
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To say it after the fact kind of lacks credibility in my book. Come on here and say you bought at what the price was when that was the price , not after a 5% 1 day bounce. Not aiming this at anybody, I'm just sayin'.
<< <i>It's always easy to say, in hindsight, that you added some when it WAS a low price.
To say it after the fact kind of lacks credibility in my book. Come on here and say you bought at what the price was when that was the price , not after a 5% 1 day bounce. Not aiming this at anybody, I'm just sayin'. >>
Rich, I have been adding 50+ ounces of silver a month for a LONG time. I was buying at $12 per ounce and at $48 per ounce. I do not regret buying north of $40. My goal is accumulation and not a quick profit.
The point of my OP was to find out if stackers here bought more when many were despairing about the price of silver. We can see many did.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>The point of my OP was to find out if stackers here bought more when many were despairing about the price of silver. We can see many did. >>
Really? I counted less than 10 and btw, I'm still on the sidelines, not buying nor selling. Another "head fake?" We should know by next Friday.
I agree, alot of people...even here, were really down on the metals, and perhaps still are so. So if one did add in less than the last 24 hours, nice job, but post it then, not after 5% in one day when silver was the number ($26.50) stated in the title just yesterday
I also said that my comments aren't aimed at anyone, it's merely an observation on my part. So I hope no one takes what I said as being critical of them, like I don't believe them or something. If someone did add just yesterday at what NOW looks to be a stronger support level, I am nothing more than happy for them. I just wish they would've come on here yesterday and said they added. All jmho and I'm only being anal about it because others have been anal towards me about the very same thing. I know...be bigger than that, right? But being the one it was aimed at in the past, I say touche.
<< <i>
<< <i>The point of my OP was to find out if stackers here bought more when many were despairing about the price of silver. We can see many did. >>
Really? I counted less than 10 and btw, I'm still on the sidelines, not buying nor selling. Another "head fake?" We should know by next Friday. >>
Revision for OPA:
The point of my OP was to find out if stackers here bought more when many were despairing about the price of silver. We can see some did.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
If you missed the $26.50 low and some sale combo as well, it seems very likely you'll have more chances over the summer.
If you are a smaller buyer like me. Yesterday or today isn't much difference for silver.
I'm expecting a big roller coaster ride over the next 10years and I expect you all have considered that too.
From a fellow addict, Have a good weekend! I'll be in withdrawel and maybe fix the house or buy food or some such!
Thanks to all for everything I'm learning. I promise not to blame most of you when I'm broke! (lol)
Liberty: Parent of Science & Industry
Jackson Hole announcement for more QE is not until August.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
<< <i>It's always easy to say, in hindsight, that you added some when it WAS a low price.
To say it after the fact kind of lacks credibility in my book. Come on here and say you bought at what the price was when that was the price , not after a 5% 1 day bounce. Not aiming this at anybody, I'm just sayin'. >>
I see what you are saying, and it's valid. If someone posted a thread the day after silver took a big dump and asked "who bought yesterday before the dip?" and I had bought, I'd probably pipe up then too
For the record I did buy some at $45+!
I added around 75 oz ....... I really didn't want to though. It'll be back down next week.
I preferred to pass considering how upside down I already am in Silver. My problem is that I am a 'go to' guy in my city. If I want to keep business coming my way, then I have to buy no matter what spot is. At this point, I'm just sinking money in a hole and hoping for the best. It reminds me of internet stocks I was buying in 1999 and kept averaging my cost down as they were falling, lol. That didn't turn out pretty for me. Not when stocks were doing 10 for 1 reverse splits just to stay listed.
I was refining and selling to lock in profits, but ever since the downturn in Feb I've been holding it all and speculating. Meanwhile I have silver piled everywhere. If you're smart, don't follow my lead, I'm usually more wrong than right, lol.
The PM market for mths have been trading on sentiment IMHO, mostly uncoupled to fundamentals. That makes it a very risky investment in the short run, perhaps even until after the fundamentals have turned south. Honestly, I doubt any kind of a QE 3 would turn the sentiments around at this point based on how it performed since Feb. Maybe I should just melt my silver into an elaborage King size bed frame and plan on my children reaping the rewards. If you haven't guessed by now, I was totally unimpressed with Friday's up tick.
You could have written the same in April 2011.
PMs trade only on sentiment. Sentiment is the only fundamental PMs have.
Knowledge is the enemy of fear
Baley, you're down by $0.04.
I knew it would happen.
Liberty: Parent of Science & Industry
So, now you're down $27.58 from "what coulda been".
I knew it would happen.
<< <i>The PM market for mths have been trading on sentiment IMHO, mostly uncoupled to fundamentals
You could have written the same in April 2011.
PMs trade only on sentiment. Sentiment is the only fundamental PMs have. >>
central banks are buying and not on sentiment. They know what a lot of us know: they're experiements are not working.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
there was a big booth in the back the guy had stacks of monster boxes selling rolls for $580,
bought some but not like usually do, kept powder...
also picked up some awesome bars digging thru another vendors pile for 28.50, not many though 13...
also picked a 1/4 au engelhard prospector...
guy was selling 1/10 platinum eagles for $180, passed
also passed on a bunch of krugs for $1570, which someone should have bought them all maybe he had 20-25...
on friday was the big spike up...
I plan on going to the ANA in Philadelphia in August.
If I wanted to try to buy some ASEs or other bullion there should I take my out of state check book?
Credit card or just cash?
Thanks in advance to whoever can answer this for me.
<< <i>cashola... >>
This.
Cash is king.
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<< <i>PMs trade only on sentiment. Sentiment is the only fundamental PMs have. >>
<< <i>central banks are buying and not on sentiment. They know what a lot of us know: they're experiements are not working. >>
Just what do they know that they are not sharing with the rest of us?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I made a lot of lateral moves in silver this past month. I've sold every last war nickle 40% half and 40% ike dollar I own at a bit under spot and moved small groups of foreign scrap out the door . I also sold most of the burnished uncirculated and proof eagles I had for a nice profit.
I've used most of the proceeds to buy morgan and peace dollars at around 20$ and some ASE's at or very close to spot on craigslist and at a local we buy gold place. I have almost the same number of ounces again that I had but in a much more liquid form.
When the SHTF if it ever does maybe silver coins will be useful maybe they won't. I know I'll do better trading mercury dimes or franklins than I will trying to barter with 50% silver sixpence and 10% pesos.
<< <i>Maybe, but the alternative investment I could have purchased instead of this dead silver has doubled. So, in a sense, aren't I down $27.50?
<< <i>I made a lot of lateral moves in silver this past month. I've sold every last war nickle 40% half and 40% ike dollar I own at a bit under spot and moved small groups of foreign scrap out the door . I also sold most of the burnished uncirculated and proof eagles I had for a nice profit.
I've used most of the proceeds to buy morgan and peace dollars at around 20$ and some ASE's at or very close to spot on craigslist and at a local we buy gold place. I have almost the same number of ounces again that I had but in a much more liquid form.
When the SHTF if it ever does maybe silver coins will be useful maybe they won't. I know I'll do better trading mercury dimes or franklins than I will trying to barter with 50% silver sixpence and 10% pesos. >>
TIME TO BACK UP THE TRUCK AND LOAD UP WITH SILVER AND GOLD !!!!
<< <i>ITS TIME......
TIME TO BACK UP THE TRUCK AND LOAD UP WITH SILVER AND GOLD !!!! >>
I'm doing my part.
BTW, the order of ASE's I mentioned in the OP still has not arrived. Gainesville seems to be quite cautious with credit card orders before shipping.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>ITS TIME......
TIME TO BACK UP THE TRUCK AND LOAD UP WITH SILVER AND GOLD !!!! >>
Really? Perhaps. I'm holding on to my cash & wait for the market to turn around. I may not catch to bottom, but I refuse to chase a "falling knife."
Propping Up The Gold Price? 7/10/12 ZERO HEDGE
Izabella Kaminska makes the point that central banks have turned net gold buyers:
Kaminska seems to believe that gold’s price is not just central-bank supported, but its trajectory is downward:
If not for the gold bar/coin frenzy and ETF demand (now substituted by official buying), one might speculate that the collapse in conventional demand (i.e. for industrial and jewelery purposes) may have led to a very different price path for gold post 2008.
Now that ETF demand is waning, however, marginal support for the gold price is actually being provided by the official sector more than ever.
Though, given the gold price reaction of late, clearly even this is not so effective so, either gold and coin buying has started to wane as well – and there is evidencethat this is the case – or it’s taking ever more buying (by official sources) to keep prices supported at the current level.
The recent plateauing of the gold price thus either suggest that today’s spot supply is increasingly catering to tomorrow’s demand expectations, or in the context of more gold being produced all the time, it is taking ever more buying by the official sector to keep prices from falling.
In other words, sans the intervention of central banks on a major level: case bearish.
The obvious thing, though — even if we take central bank buying out of the equation altogether — is that total demand for gold is still increasing. And the price of gold has increased faster than sales, illustrating that the market has struggled and continues to struggle to keep pace with underlying demand.
And it’s not just demand for gold-denominated paper (i.e. ETFs or other such as-risky-as-anything-you’ll-get-from-MF Global assets) — it’s recently manifested as demand for hard physical gold:
It’s true that central banks are presently supporting the gold price — after years of selling off national wealth at pennies-on-the-dollar into a bear market and thus suppressing prices. Yet it’s not the Western central banks that are pushing demand for gold. It’s the BRICs. As PBOC official Zhang Jianhua noted:
No asset is safe now. The only choice to hedge risks is to hold hard currency — gold.
And as I noted yesterday, BRICs have founded and legitimate fears of buying even deeper into an increasingly ponzified, over-leveraged, rehypothecated and interconnective paper financial system. The PBOC (and other American creditors) already faces the risk of the US Treasury inflating much of their holdings away; the entire point is to get out of such assets into something much harder to duplicate, and impossible to inflate away.
According to China’s State Council’s Xia Bing:
China must make fuller use of the non-financial assets in its foreign reserves, as well as speed up the diversification of investing channels to resist a possible long-term weakening of the dollar.
No; I don’t think it’s particularly wise to announce to the world that you’re going to get elbow-deep into gold bullion either, but this isn’t just a bluff. China is importing hard-to-fathom quantities of gold:
Ultimately, the surge in demand for gold reflects one thing alone: distrust of the increasingly messy, interconnected, over-leveraged and fraudulent financial system. Whether it is China — fearful of dollar debasement — loading up on bullion, or retail investors in the United States or Europe — fearful of another MF Global (or PFG, or Lehman Brothers) — stacking Krugerrands in their basement, demand for gold reflects distrust in finance, distrust in the financial establishment, distrust in banks, distrust in regulators, distrust in government and distrust in the financial media. And it is that distrust — not (by any stretch of the imagination) central bank interventionism — that is the force moving demand for gold.
The distrust is not going anywhere because the system is still rotten. We all know — even Business Insider readers know deep down, I think — that there is something exceedingly rotten at the heart of the global financial system. We don’t know quite how rotten, how deep the rabbit hole goes, who will be implicated, or how fast. But with every LIBOR-rigging scandal (which the Fed, of course, was aware of), every raided segregated account, every devalued pension fund, every failed speculative “hedge”, every Facebook or Zynga pump-and-dump, we get closer to the truth.
There will be no bear market for physical gold until trust in the financial system and regulators is fixed, until markets trade fundamentals instead of the possibility of the NEW QE, until governments represent the interests of their people instead of the interests of tiny financial elites.
You mean, like it was in 1980-2000, when everything was perfect?
Liberty: Parent of Science & Industry
Any takers?
I knew it would happen.
Knowledge is the enemy of fear
<< <i>Baley, I'm going to issue some promissory notes for mowing grass. I promise to mow your yard sometime in the future (to be determined at a later date) in return for 5 oz. of silver. You pay upfront with physical metal. I am also a pathological liar with a very poor track record of keeping my promises.
Any takers? >>
you're asking us if your lawn mowing coupon has the same creditworthiness and liquidity of a T-bill or $1 bill?
edited to add: PS 5 oz. silver? you either greatly overestimate the size of my yard in Baleyville, or your fee is exhorbitant!
Liberty: Parent of Science & Industry