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Who are the "new" buyers of precious metals?

BaleyBaley Posts: 22,660 ✭✭✭✭✭
in Precious Metals
So, is there a pool of buyers out there who haven't yet gotten involved with precious metals, and are going to now jump in?

Meaning, of course, the die hard stackers buy and hold through thick and thin, always have.

Then, you've got the folks who got involved recently (past two years) because of advertising, blogs, a friend told them, etc, and are now either feeling A. burned and wondering if they should get out now with a loss or hope it bounces so they can get out breaking even, or B. feeling like a stacker and dollar cost averaging lower prices now.

Do you think there is a segment out there who feels like they missed the boat on metals before, and now has a "second chance" at lower prices?

Because it seems, when a bubble pops like this, they are now glad they were never involved, and might be inclined to just stay away.

Liberty: Parent of Science & Industry

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Comments

  • CoupdescroungeCoupdescrounge Posts: 173 ✭✭
    The same people who buy a lottery ticket only when the pot gets to 300 million are
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    The current panic has to be v. Unsettling to newbies.

    A friend called this morning for advice & I told him the smartest thing he could do was relax & sit it out for awhile.

    Now he understands why I like sight seen cash and carry.
    Have a nice day
  • dontippetdontippet Posts: 2,606 ✭✭✭✭
    I highly doubt if new buyers will be attracted. They will be attracted when silver doubles again.
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  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    The current physical shortage is due to old buyers making smart, new purchases. The new buyers will show up just as they did in 2008 and 2010. Hope there's enough to go around for them.

    Lets hope the cynics remain unchanged. image

    "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

  • C0INB0YC0INB0Y Posts: 627 ✭✭


    << <i>Then, you've got the folks who got involved recently (past two years) because of advertising, blogs, a friend told them, etc, and are now either feeling A. burned and wondering if they should get out now with a loss or hope it bounces so they can get out breaking even, or B. feeling like a stacker and dollar cost averaging lower prices now. >>



    Which one are you?
    I was ‘COINB0Y' with 4812 posts and ‘Expert Collector’ ranking (Joined in 2006).
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Buyers of physical metal continue to be who they have been: China-Russia central banks, big commercial banks, high net worth private investors, and the Asian public.

    If a liquidity crisis is starting to bubble up based on today's overall financial market actions - your only choices might be TBonds and then possibly cash-PMs.
    Something is not right in the banking sector and all of this action the past week is only confirming that. The first step was to crush PMs and then commodities for
    whatever the PTB have planned for us next. China has been adding 500-1,000 tonnes of gold per year to its inventory. I'm sure they're quite happy with this 30% off
    sale. Their goal is 5,000 to 8,000 tonnes so still plenty of work to do.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • VanHalenVanHalen Posts: 3,991 ✭✭✭✭✭


    << <i>The current panic has to be v. Unsettling to newbies.

    A friend called this morning for advice & I told him the smartest thing he could do was relax & sit it out for awhile.

    Now he understands why I like sight seen cash and carry. >>



    Yes, and for those of us who owned PMs in 2008/09, this should make things interesting. image

    Crude oil is down almost $7/barrel since last Thursday. At least those fill-ups will be a bit cheaper! image
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    Do you think there is a segment out there who feels like they missed the boat on metals before, and now has a "second chance" at lower prices?

    Not many. The stock market has been on a tear (until today), and now CNBC is mainly talking about how far pms can drop. Not many newbies can figure out that this type of move isn't normal, and even fewer would want to dive right in when they see this much blood (albeit, paper blood) in the streets.

    Frankly, there's no way of knowing what's going on in the pm markets right now. It's a good time to buy if you were planning to buy anyway. It's also a good time to be holding physical, and not to have anything on margin.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,123 ✭✭✭✭✭
    But but but, this time is different.

    This is what happens when something is over owned. Nay say all you want, but fact is evident in price. And fact that pm's are an emotional investment leads to the action we saw today.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    No, its the same as events prior to the two previous all time highs. This is what happens when item A has a price that is incorrectly based on inferior item B. Shortages and premium increases verify the disconnect. The stack (that I am currently adding to) will eventually be priced to a different set of fundamentals than are promises for a stack and will not suffer along with a collapse of the promises. I like Jim Willies outlook: This is necessary to put an end to the CONEX corruption.

    Of course there are some here image who see these physical shortages and higher paid premiums as nothing more than evidence of more sheep being led to the slaughter.

    "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

  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    I have not seen or heard anything about PIGS, France, slovenia CB.

    I wonder if the Troika are forcing the issue before a bailout?



    Have a nice day
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>It's also a good time to be holding physical, and not to have anything on margin. >>



    That is the best advise anyone can pass on image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Rule #1

    "...holding physical, and not to have anything on margin."



    It is interesting to watch all this. Paper boys woke up to a strange Monday and I was thinking about the talk about paper driving spot. That would make physical something other than spot but it trades at spot give or take a little. So, did the paper metal guys get many requests today for delivery of physical, are their phones lit up with panicked paper sellers?

    On the other side, I would think that most of the folks that wanted to be holding physical were already there or getting there in terms of their acquisitions. Stackers probably stacking with a renewed fervor after a long wait.

    If you're not selling into a bubble bust then what the worry...sit back and enjoy the movie. For all the folks on margin, see Rule #1.
  • cohodkcohodk Posts: 19,123 ✭✭✭✭✭
    Of course there are some here who see these physical shortages and higher paid premiums as nothing more than evidence of more sheep being led to the slaughter

    That would be me. 100%. Absolutely yes. Too bad you werent stackin dollar bills like me. Now I can trade in my worthless paper for 2x as much silver. And when it goes to $300/oz, i'll be twice as rich!! Booyah!! LOL

    The poor sheeple who were scared by so many to put their hard earned dollars into a "safe currency", with "no counter party risk", now find themselves in shock and even more scared. I've asked a hundred times, "Where is the protection!!??"




    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    We've come to expect this. Anyone who's been investing in metals should know long before now that the market isn't a free market. I'm not selling. Are you? At some point, the paper really won't be worth much. If they can keep the balancing act going, we can just go ahead and live the way we've always lived. If not, I'd rather have the metals. There is a certain kind of karma that can come with too much gloating. And yes, you did warn everyone here.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,123 ✭✭✭✭✭
    Not gloating. Just tired of the same old lines about how silver will save you. Silver has proven itself to be nothing more than another asset. Thats been my contention all along.

    I just feel for the newbie investors as I saw the SAME EXACT patterns and rhetoric as 2000. EVERYONE who has bought silver in the last 30 months, is now underwater.

    This "game" isnt so complicated when you take the emotion out of it. I see people today making up all kinds if excuses for the selloff. Who cares? Silver doesnt. Gold doesnt? Fact is that prices are lower. And if you think it is only the paper price that is lower, then try selling your stack.

    But, I'll have you know, then lower the price gets, the more bullish I become. I dont hate PMs, I just dont hold them in reverence.



    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    This "game" isnt so complicated when you take the emotion out of it. I see people today making up all kinds if excuses for the selloff.

    There is no need for an excuse.

    Who cares? Silver doesnt. Gold doesnt? Fact is that prices are lower.

    Exactly correct. It is the new reality, and no matter what - you have to accept it. No whining.

    And if you think it is only the paper price that is lower, then try selling your stack.

    I don't want to sell any of my stack, and I have no intention of selling until I am ready to sell some of it. And that wouldn't be "now".

    But, I'll have you know, then lower the price gets, the more bullish I become. I dont hate PMs, I just dont hold them in reverence.

    They're just metal. No reverence here. No government promises needed, because they aren't paper. That is pretty much it.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Yukoncornelius1Yukoncornelius1 Posts: 654 ✭


    << <i>Of course there are some here who see these physical shortages and higher paid premiums as nothing more than evidence of more sheep being led to the slaughter

    That would be me. 100%. Absolutely yes. Too bad you werent stackin dollar bills like me. Now I can trade in my worthless paper for 2x as much silver. And when it goes to $300/oz, i'll be twice as rich!! Booyah!! LOL

    The poor sheeple who were scared by so many to put their hard earned dollars into a "safe currency", with "no counter party risk", now find themselves in shock and even more scared. I've asked a hundred times, "Where is the protection!!??" >>



    Judging your repeated comments here it's obvious you don't want to own silver so why say that you can now buy twice as much????image
  • cohodkcohodk Posts: 19,123 ✭✭✭✭✭
    No, I do want to own silver. But, im not going to pay $40, $35, $30, or even $25 an ounce for it.

    I dont buy into any magical abilities of PMs. I dont buy into any fundamental reasons to buy silver. But I will buy it when it is a relative value. For the last 2 years I have seen no value, but it is now becoming interesting.

    And I say I can buy twice as much because I can. Math is pretty simple.

    So I guess to answer the OPs question, I will be a new buyer, but only when the price and timing are right.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • C0INB0YC0INB0Y Posts: 627 ✭✭
    image cohodk
    I was ‘COINB0Y' with 4812 posts and ‘Expert Collector’ ranking (Joined in 2006).
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭


    << <i>

    << <i>Then, you've got the folks who got involved recently (past two years) because of advertising, blogs, a friend told them, etc, and are now either feeling A. burned and wondering if they should get out now with a loss or hope it bounces so they can get out breaking even, or B. feeling like a stacker and dollar cost averaging lower prices now. >>



    Which one are you? >>



    I'm the guy who has seen this movie twice now, once in 1978-1982, and then again 2009-2013.

    REALLY looking forward to 2040 or so for a third viewing image

    Liberty: Parent of Science & Industry

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Then, you've got the folks who got involved recently (past two years) because of advertising, blogs, a friend told them, etc, and are now either feeling A. burned and wondering if they should get out now with a loss or hope it bounces so they can get out breaking even, or B. feeling like a stacker and dollar cost averaging lower prices now. >>



    Which one are you? >>



    I'm the guy who has seen this movie twice now, once in 1978-1982, and then again 2009-2013.

    REALLY looking forward to 2040 or so for a third viewing image >>




    Why didn't you sell and take a profit?
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I took some profits both times, but of course, not enough (in hindsight)

    being an "asset allocator", I'm never all the way out of any one segment of the markets (edit: OR "All-In", that's the important part, IMO)

    Funny thing is, metals have dropped enough, and other stuff has gone up enough, that now I'm underweighted metals and starting to buy again image

    Liberty: Parent of Science & Industry

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    I don't allocate at all. I buy a certain amount of metal for long term and the rest of my loose money I plow back into my own small business for the present.

    Tools equipment anything that I use that probably will cost more in fiat going forward.


    Since I'm a "jerk of all trades" that covers just about anything If I see stack of plywood on craigslist for half price I am liable to buy that image


    Speaking of plywood, lumber is definitely not going down in price , if it wasn't so bulky I'd be stacking that faster than silver
  • tnsprotnspro Posts: 786 ✭✭✭
    I too am someone that is looking to get into buying silver. I can not, however, get in at these prices. I just do not see a benefit for me. I would love to get a couple of hundred ounces in the $10-15 range. I think that would at least minimize the down side and provide enough of an up side to make it worth it for me. For most of you, I would assume you have been in it for years so adding to your stack isn't a huge risk since you might have purchased at $10 or under.

    I just don't see how someone looking to start adding silver, or any PM really, can start at these prices. But I am watching, learning and looking forward to a time when I can.

    Jim

    Currency Wants: Any note with serial number 00000731
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    I'm not sure if Basel III made gold a tier one asset
    but I did 10 years ago.

    This could either be the mother of all buying opps or
    a good head fake. Too many CBs buying for me to discount
    the former.

    Too many shops are bone dry right now. IIRC, Sinclair said watch for the wild swings
    before the parabolic move.
    Have a nice day
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The type of buyers that took silver and gold up from the lows of August 1976, will be the same ones that take it up from this next bottom.
    Cohodk has already intimated that he will be one of these buyers at the right price. I assume he benefited as well from the 2002-2011 rally.

    The "new" buyers.....are just some of the "old" buyers.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    I'm a new buyer. Two new ASE boxes on the way!

    "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

  • derrybderryb Posts: 36,823 ✭✭✭✭✭


    << <i>The poor sheeple who were scared by so many to put their hard earned dollars into a "safe currency", with "no counter party risk", now find themselves in shock and even more scared. I've asked a hundred times, "Where is the protection!!??" >>


    Anyone scared into purchasing something deserves to take a loss on it. I believe most readers hear are smart enough to realize they are not only reading opinion, but they are reading the opinon of a crowd that is primarily pro PM. You and at least one other seem to consider it financial advice - we've discussed this before and I'm sure it will come up again.

    Risk, yes, as with everything, even dollars. There is no counterparty risk with physical gold in your possession. As a former stockbroker you should know the difference. Your counterparty risk with dollars is having them and their future in the hands of bankers who have infiltrated all levels of government economic policy making. Google Cyprus, fractional lending and QE for examples.

    Where's the protection? Ben Bernanke is the protection. And while recent history shows that he can cause downward price movements, it also shows they come back stronger.

    From ZH: "Gold endures. If confidence in the currency is lost, or in the bond market; Gold is a safe haven" -Dylan Grice. There are good reasons to own gold. And to buy gold, there is now a reason more than a week ago: It's 30% cheaper.

    It boils down to two camps - those that think Bernanke can keep the currency market and of the bond market in good standing. I'm in the "I don't believe so" camp.

    Edited to add:

    Coincidentally, this just popped up on ZH

    "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

  • pragmaticgoatpragmaticgoat Posts: 853 ✭✭✭
    What are the alternatives?

    Rick Rule
    BST references:
    jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack;
    jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    I think that Bernanke and what's his name, the scruffy guy that thinks he's economist - I think that they really believe that past "success" in bogus money creation can breed continued "success" in money creation, and that Long Term Debt can be pushed out indefinitely.

    They really think that it can be done indefinitely without any repercussions. LBJ thought that he could finance a war that way. Until he couldn't. Bush & Obama thought that they could finance multiple wars and untold freebies for people who don't work. Until now, perhaps.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Yukoncornelius1Yukoncornelius1 Posts: 654 ✭


    << <i>What are the alternatives?

    Rick Rule >>



    On come on, fiat currency will endure and the fed has your best interests at heart. No need to put some of your fiat currency into worthless silver which for centuries has been used as real currency and just happens to be a crucial metal for industrial applications. If you believe in future growth of electronics and business invest in silver, if you believe in fiat currency don't invest in silver.image
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    I'm a new buyer. Two new ASE boxes on the way!

    Not being faceitous in the least, but will you update us on any problems (or lack thereof) you might have with delivery?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ColinCMRColinCMR Posts: 1,482 ✭✭✭
    Go lumber!!

    I agree on that one!
  • cohodkcohodk Posts: 19,123 ✭✭✭✭✭


    << <i>The type of buyers that took silver and gold up from the lows of August 1976, will be the same ones that take it up from this next bottom.
    Cohodk has already intimated that he will be one of these buyers at the right price. I assume he benefited as well from the 2002-2011 rally.

    The "new" buyers.....are just some of the "old" buyers. >>




    But I did sell most too soon.image I usually underestimate the power of manias.

    I was in a local shop yesterday. The two guys working there looked like the last two standing by the wall at a school dance. They were so dejected. Anyway, the thought came to mind that people dont really ever sell their PMs. They just die with it and their heirs sell it. Then the cycle starts all over again.

    Prices dont have to drop because of selling, but prices do need buying to rise. When the buying wanes, so do prices, until eventually there is a collapse. It happens with all assets. Stocks, farmland, PMs. Its all the same.

    Silver will shine again. And the cycle will probably shorten, but it will still take a lot of time for new buyers to emerge and have confidence.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • wick70wick70 Posts: 340
    Ended up purchasing several ASE's at the LCS for $27.50 per on Tuesday. They still had plenty of stock.

    Enjoy collecting vintage baseball cards, memorabilia and autos
    image
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Update, have any of "the faithful" been able to convert any of your friends, family, or colleagues or acquaintences into buying their FIRST metal bullion lately?

    Liberty: Parent of Science & Industry

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    have any of "the faithful" been able to convert any of your friends, family, or colleagues or acquaintences into buying their FIRST metal bullion lately?

    Lol, the very LAST thing I want to do is to convert anyone into buying precious metals. I have enough problems of my own.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭


    << <i>Update, have any of "the faithful" been able to convert any of your friends, family, or colleagues or acquaintences into buying their FIRST metal bullion lately? >>



    Absolutely not. If PM's fell, I would never hear the end of it. Remember---"No good dead goes unpunished."

    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

  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Update, have any of "the faithful" been able to convert any of your friends, family, or colleagues or acquaintences into buying their FIRST metal bullion lately? >>



    NO...but I convinced by brother to buy a couple thousand shares of CLCT when it dropped to around $13. He likes dividend paying stocks & CLCT pays around 9%.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • pragmaticgoatpragmaticgoat Posts: 853 ✭✭✭
    What jmski52 & PerryHall said; and one local business owner that used to give me a hard time for owning a non-interest barbaric relic has started giving me a hard time about it again...maybe that's a good sign :-)
    BST references:
    jdimmick;Gerard;wondercoin;claychaser;agentjim007;CCC2010;guitarwes;TAMU15;Zubie;mariner67;segoja;Smittys;kaz;CARDSANDCOINS;FadeToBlack;
    jrt103;tizofthe;bronze6827;mkman;Scootersdad;AllCoinsRule;coindeuce;dmarks;piecesofme; and many more
  • ndleondleo Posts: 4,136 ✭✭✭✭✭
    I'm a new buyer as well. Rather than buying "paper gold", I decided to buy the physical asset.

    I recently travelled through Southern Europe for a month and don't see an end to QE by central banks. Even if Bernake or BOJ wants to stop, the Euros will have to continue or risk social disruption.
    Mike
  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭


    << <i>What jmski52 & PerryHall said; and one local business owner that used to give me a hard time for owning a non-interest barbaric relic has started giving me a hard time about it again...maybe that's a good sign :-) >>



    Suggest you keep your PM stash secret.

    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

  • bretts911bretts911 Posts: 764 ✭✭✭
    Just started buying silver first time last week
  • gripgrip Posts: 9,962 ✭✭✭✭✭


    << <i>No, I do want to own silver. But, im not going to pay $40, $35, $30, or even $25 an ounce for it.

    I dont buy into any magical abilities of PMs. I dont buy into any fundamental reasons to buy silver. But I will buy it when it is a relative value. For the last 2 years I have seen no value, but it is now becoming interesting.

    And I say I can buy twice as much because I can. Math is pretty simple.

    So I guess to answer the OPs question, I will be a new buyer, but only when the price and timing are right. >>



    Wise thinking!
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    so are the prices and timing right?

    not seeing any new buyers joining the forum at these bargain prices

    Liberty: Parent of Science & Industry

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    Unlikely that you'll see to many new buyers. Human nature dictates, that most newbies jump in when they should be selling...i/e rising prices.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • tneigtneig Posts: 1,505 ✭✭✭
    No, and the last two I did was during the start of the slide down. I now like finding new "existing suckers" like us. (did I say that out loud?)



    << <i>Update, have any of "the faithful" been able to convert any of your friends, family, or colleagues or acquaintences into buying their FIRST metal bullion lately? >>

    COA
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I recommended gold and silver to some family members when they were no higher than $450 and $6 respectively. No recommendations since though.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,823 ✭✭✭✭✭
    The new buyer are most likely those that missed the last opportunity to triple their money.

    "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

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