I Put My Money Where My Mouth Is - Bought the 100 oz RCM off eBat

MsMorrisine

I don't like buying silver. I think it's headed lower generally. Yesterday or the day before I posted I think there will be risk off and stocks down, PMs up.

in @ 16.93

with 100oz I hope we see 17.75 and not 14.25

OPA

Not happening as I type....exactly the opposite though.

asheland

I think you did ok. This is a good price range to buy silver in my opinion.

derryb

excellent long term hold.

MsMorrisine

@derryb said:
excellent long term hold.

I hope long term only means a few weeks....

derryb

@MsMorrisine said:

@derryb said:
excellent long term hold.

I hope long term only means a few weeks....

unfortunately, not. Your only hope for short term is a "no rate increase" policy by the FED on Dec. 16. Longshot, but a good contrarian possibility. Otherwise look for mid-2017 to provide a good, profitable exit on the bar.

Rising premiums on the tubes of silver eagles are making them impossible to find a bargain at these lower silver prices.

Downtown1974

Congrats on the purchase. Safe place to park some cash for the long road.

TwoSides2aCoin

Stackers usually relax while the dust builds up.

asheland

I'd stash it and forget you bought it.

carew4me

never understood the concept of short term physical

derryb

@carew4me said:
never understood the concept of short term physical

agree. any short term price spike usually results in better intermediate term prices and possibly even better long term prices.

OPA

@derryb said:

@carew4me said:
never understood the concept of short term physical

agree. any short term price spike usually results in better intermediate term prices and possibly even better long term prices.

That may have been true in the past, but not so since 2011. In today's economy, you must take advantage of any short term spike in order to come out ahead.

derryb

a short term spike needs to be big enough to cover the expenses of disposing of physical metal. even if sold to a local dealer there is the lower dealer buy price to be considered as a seller "expense."

BAJJERFAN

@derryb said:

@MsMorrisine said:

@derryb said:
excellent long term hold.

I hope long term only means a few weeks....

unfortunately, not. Your only hope for short term is a "no rate increase" policy by the FED on Dec. 16. Longshot, but a good contrarian possibility. Otherwise look for mid-2017 to provide a good, profitable exit on the bar.

Rising premiums on the tubes of silver eagles are making them impossible to find a bargain at these lower silver prices.

Is $.50 over spot for a MB of 2016s high?

what would be a bargain price?

piecesofme

@derryb said:

@MsMorrisine said:

@derryb said:
excellent long term hold.

I hope long term only means a few weeks....

unfortunately, not. Your only hope for short term is a "no rate increase" policy by the FED on Dec. 16. Longshot, but a good contrarian possibility. Otherwise look for mid-2017 to provide a good, profitable exit on the bar.

Rising premiums on the tubes of silver eagles are making them impossible to find a bargain at these lower silver prices.

Every time silver dips I say this. All it means is that the spreads on physical vs. paper are getting farther apart. I find it amusing that anyone at this point in the game would still think that paper traded metals have any real baring on physical. (not saying you do derryb) I mean they do of course but after I just paid $211 for a 1 oz art bar with a known mintage of 10...and now I have 3 of the 10, I did not care one bit about whatever Spot was at the time of that purchase.
For those who only want to deal with generics because they more closely follow paper traded, I wish them luck. It's a losing battle that is only going to get harder to play with Trumps more widely accepted economic policies. The market has already proven that and he's not even sworn in yet. Does anyone think that is a good sign for PM's? Again, I wish those of you playing that game luck. I've moved on to "collectable bullion" rather than chasing Spot to make some gas money.

derryb

@BAJJERFAN said:

@derryb said:

@MsMorrisine said:

@derryb said:
excellent long term hold.

I hope long term only means a few weeks....

unfortunately, not. Your only hope for short term is a "no rate increase" policy by the FED on Dec. 16. Longshot, but a good contrarian possibility. Otherwise look for mid-2017 to provide a good, profitable exit on the bar.

Rising premiums on the tubes of silver eagles are making them impossible to find a bargain at these lower silver prices.

Is $.50 over spot for a MB of 2016s high?

what would be a bargain price?

.50 over spot for MB is very low (please post the source), but the going rate is minimum of $2.50 over spot. I was referring to buying 20 coin tubes. I normally buy my tubes off ebay when I can get them for around $1 over spot when earning bonus bucks. Those have become very scarce lately. Declining has been requiring short term holders/sellers to jack premiums to help reduce their loss. More reason to not buy physical for short term if looking for profit.

MsMorrisine

@derryb said:
a short term spike needs to be big enough to cover the expenses of disposing of physical metal. even if sold to a local dealer there is the lower dealer buy price to be considered as a seller "expense."

Of course.

It was either that or a gold coin with the 8% eBat Bucks today

Unfortunately, I incorrectly assumed the price was a discounted one ending at 11am eastern. Had I known the deal would have lasted through today, I would have waited.

MsMorrisine

didn't make it up to where I needed it, did it? oops.

plus the market did not go risk off, it stayed in rally mode. oops.

MsMorrisine

Bought some gold in the $1150 range and sold the 100 oz and gold recently.

Nice catch and release.

With gold and silver at these levels, I've been passing on the bucks offers.

I still have an ounce of gold I bought at $1250. I think I'm going to gift it to the in-law next meeting.