Pjurchased some silver today, anyone else taking the plunge?
Yukoncornelius1
Posts: 654 ✭
I decided to visit one of the local bullion dealers today, I wound up purchasing five 10 oz. NTR bars for $1.75 over spot and 40 generic 1 0z. silver rounds including a few A-mark and Prospectors for $1.95 over spot. Not sure how much further down this sell off takes us but ready to purchase more every dollar down.
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Edit to add. One of these times well run into each other....
<< <i>I decided to visit one of the local bullion dealers today, I wound up purchasing five 10 oz. NTR bars for $1.75 over spot and 40 generic 1 0z. silver rounds including a few A-mark and Prospectors for $1.95 over spot. Not sure how much further down this sell off takes us but ready to purchase more every dollar down. >>
$1.75 over spot per oz? Or per 10 oz bar?
Gold for me today I got 3 wedding bands and a half sovereign
It would be shocking to be per 10oz bar.
It would be per oz as usual I am assuming.
Edited for spelling on iPad!
Bought 38 oz. today that includes 3 ozer. Swiss America.
Show this weekend.
Got quoins?
<< <i>None..."The knife is still falling." What's the rush...PM's will still be there when the rebound eventually occurs. >>
Yup. Right now the frequently used saying is "throwing good money after bad".
Knowledge is the enemy of fear
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>Four, 10oz bars at $280 each. >>
That's a good buy, I would have jumped on it too if the metal looked right.
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
The customer is buying on the dip (smart) so the dealer will keep testing the water to see just what people will actually give (smart too). Gotta love the game. If you can't accept it, you should take yourself out of it.
<< <i>B&M's really have some nerve charging anything over Spot, this week anyway. They should be grateful people are still coming in the door...but they're smart too lol.
The customer is buying on the dip (smart) so the dealer will keep testing the water to see just what people will actually give (smart too). Gotta love the game. If you can't accept it, you should take yourself out of it. >>
<< <i>Four, 10oz bars at $280 each. >>
Good deal. What brand of bars?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Dormant for the past month. Itchy itchy itchy trigger finger though... >>
+1. I'd like to see one or more of the 2013 5 oz bullion ATB's released soon.
<< <i>B&M's really have some nerve charging anything over Spot, this week anyway. They should be grateful people are still coming in the door...but they're smart too lol.
The customer is buying on the dip (smart) so the dealer will keep testing the water to see just what people will actually give (smart too). Gotta love the game. If you can't accept it, you should take yourself out of it. >>
Do you expect them to sell at a loss? When gold drops $20 an ounce in a couple of hours do you think a new supply at the new lower price just magically appears at the front door?
trigger yet !!!
<< <i>
<< <i>I decided to visit one of the local bullion dealers today, I wound up purchasing five 10 oz. NTR bars for $1.75 over spot and 40 generic 1 0z. silver rounds including a few A-mark and Prospectors for $1.95 over spot. Not sure how much further down this sell off takes us but ready to purchase more every dollar down. >>
$1.75 over spot per oz? Or per 10 oz bar? >>
Per 0z.
<< <i>
<< <i>None..."The knife is still falling." What's the rush...PM's will still be there when the rebound eventually occurs. >>
Yup. Right now the frequently used saying is "throwing good money after bad". >>
It sure seems that way, I got a patronage check from one of the co-ops for $3,500 and decided to stick some of it into silver.
I will be ready to purchase some more but at this point in time I am willing to wait for $25 silver before getting another 100 oz.
<< <i>ordered silver eagles from tulving, 2.64 over spot. >>
ditto
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A Sunshine, NTR, USofA, and Wall Street bar. I used coin cleaner on the sunshine and wall street items. You can see the camera reflection in them.
Just silver.
<< <i>
<< <i>Four, 10oz bars at $280 each. >>
Good deal. What brand of bars? >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
No, I expect them to adjust what they currently have at what the current market value is. I've heard the old "replacement cost" story, and it is a very old and tired line of an attempted sympathy grab.
ALL dealers buy on the cheap from the public, how do you think they stay in business for generations? If they can't adjust to what the market is doing when it's down but do when it's taking off, that's the pinnacle of hypocrisy in my book, and I then stay away from them B&M's and will not promote them when family & friends ask for places to buy.
Feel free to go about it as you choose, as do I.
I knew it would happen.
<< <i>Do you expect them to sell at a loss? When gold drops $20 an ounce in a couple of hours do you think a new supply at the new lower price just magically appears at the front door?
No, I expect them to adjust what they currently have at what the current market value is. I've heard the old "replacement cost" story, and it is a very old and tired line of an attempted sympathy grab.
ALL dealers buy on the cheap from the public, how do you think they stay in business for generations? If they can't adjust to what the market is doing when it's down but do when it's taking off, that's the pinnacle of hypocrisy in my book, and I then stay away from them B&M's and will not promote them when family & friends ask for places to buy.
Feel free to go about it as you choose, as do I. >>
I'm not a stacker, but in the few conversations I've had with my local dealer, when he buys from suppliers, he is subject to the same market swings as you and I would be. So if he orders a monster box of ASEs, he has to wait for them and pay for delivery like anyone else. I doubt that he can get a better price than the average non-dealer buying a like amount. Since he pays for them up front, he has to sell them based on what he has in them, not vs spot. If spot drops from the time he orders until he takes delivery, he has to charge a higher premium or sit on them. IIRC he pays better than average for stuff that walks in the door.
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Purchased six 10 oz. Acadamy stackers today for $272.30 each. >>
good price, but you're still trying catch a falling knife. Patience is the name of the game. Those bars will still be available when silver turns around.
<< <i>
<< <i>Purchased six 10 oz. Acadamy stackers today for $272.30 each. >>
good price, but you're still trying catch a falling knife. Patience is the name of the game. Those bars will still be available when silver turns around. >>
As a silver bull I hate to agree with you but I believe you are correct. This is a vicious correction within a bull market yet to have a blowoff top and at one time thought it could possibly test $25 but hold there, now I'm not so sure. However I do believe that adding some silver to my stack in this price range will prove to be a good use of my funds when the final wave of the bull materializes.
Some people might think that the blowoff top was in April 2011 with the screaming rise to $49 followed by lower highs and lower lows to the current bear market level nearly 50% lower than that peak, currently about $26 and possibly still falling. Previous support levels can become resistance levels, as people hope to cash out with some profit intact, or at least to break even. Now, if silver were to rise to $30, or $35, or $40, for each "Pjurchaser" there might be even more sellers.
Liberty: Parent of Science & Industry
people still believe its going back to 40+ soon, I believe they are sadly mistaken, and several are going to lose a lot of $ chasing it down
If you want to keep score in dollars then maybe you will be down. I keep score in ounces and that number is increasing slow but steady.
If you are a trader of paper silver or a flipper of pretty coins on ebay then a big move down might be painful but I just get more silver for the same paper if prices drop.
I am looking 10 and 20 years ahead . Inflation is running at least 5% a year according to many(outside the fed).
I don't buy silver to make money to pay bills , I have a job for that.
I just plan to add to my pile weekly and then sell a little here and there so I can afford to eat canned cat food instead of the dry stuff when I wake and find my so called retirement money has been stolen by my government.
This week I bought a l stack of Aussie florins and shillings , a 5 peseta baby head , and 2 more wedding bands. If I keep buying rings maybe when I retire I can get ordained and setup a full service wedding chapel
LOL. I also like to buy nice gold jewelry from local dealers. It usually trades at a consistent level to spot and can often be sold retail at a premium. And sometimes the wife and borrow a few pieces from the stack.
Knowledge is the enemy of fear
I'm not the type to bang my head against a wall. Some wives girlfriends etc. might think buying gold coins is a waste of money yet they are ok with jewelry .
I've settled on plain rings in 14k in various sizes as the most potential liquid. I don't like link bracelets or chains . Coin jewelry brooches and earrings pendants etc. and coins removed from jewelry are also a favorite of mine. When I make the rounds locally everyone has stuff set aside for me and usually I have no competition for that pile.
I 'll let the other stackers load up on premiums , I load up on metal.
No silver this week.
bob
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan