As I watch Fox News right now silver is down to $14.43. A while back I swore when it dropped to $20 I would buy then chickened out and changed it to $17. Then chickened out again.
I have no idea who low it will go this time around but now my "buy it now" price will be $13. What do you think? How low will it go?
East Tennessee
Who knows? Premiums have gone up quite a bit as the price as dropped. I look at it as a savings account. I just keep buying.
I don't think it will go below $12 so I would buy now, and keep your eye out for any further dip. I bought a bunch of silver about 10 years ago for 12$ an ounce and sold it when it was nearly $50 an once. Did that with gold at $600, and sold at $1300. Made out better with silver, and it financed some needed firearms purchases which ended up panning out well in 13'. This dip should not be happening in my opinion. The world market is down, but being flushed with Chinese silver and gold. I believe this is a whirlwind of economic tinkering to take peoples mind off of the economy for the elections coming soon. In the end it will backfire, and there will be a spike at or around the elections. My prediction is a spike right after the elections.
I have been watching this myself and trying to decide when to buy but nothing makes any sense.
Ok, I have a question how are you guys buying silver, in coins, bars, etc?
That is a perfectly impossible question for anyone to answer. Maximum fear of buying is always the low in price and you will know that only in hindsight. The only question you need to answer is, "what is a reasonable price to me?" Then cost average over time. I just bought 3 shotguns for about half of what they were bringing 2 years ago. If they drop some more they still shoot and I might buy more at a better price, but I'm real happy now.
1oz Silver Eagles and 90% "junk" when it comes my way. Silver is mainly a bi-product of gold mining. There is an historical gold to silver price ratio that is way out of whack right now. Gold and silver are forever linked.
http://www.zerohedge.com/news/2015-0...ounce-physical
Originally Posted by John Allen
My choice is brand name bars because of the lower premiums. And I realize the question is impossible to answer with any accuracy, just looking to start an interesting thread. Just cant wrap my head around why it keeps on dropping.
East Tennessee
Market manipulations ....
It took a lot of effort to not sell my meager stash when it hit $20 it then climbed a lot higher ,fwiw I used to buy a few rounds at gun shows ,paid $5-7 per oz,my investment isn't much but considering how much fiat currency is worth at least the silver has held up
As for how low .... Doubt that we'll see it at $5-7 again
Je suis Charlie
if it was easy would it be as worthy ? or as long of lasting impression ? the hardest of lessons are the best of teachers [shrugz]" To sit in judgment of those things which you perceive to be wrong or imperfect is to be one more person who is part of judgment, evil or imperfection."
Wayne Dyer
http://www.youtube.com/watch?v=WLzFhOslZPM
I don't think we are at the bottom yet.Keep in mind the precious metal market are all manipulated by the big banks so there is no way to know the true worth of silver.This price manipulation could be doing us a favor by making silver on sale now.In the event of a economic catastrophe it may be a way to preserve your wealth. Craig
xacex....needed firearm purchases????????????....I'm calling you on that one.....lol.
buy some now then buy more if the price drops further. Cost average my friends.
Have you checked with your local dealer on what price he is willing to sell ?
When the "spot" price was around $16. I wanted to buy some. I stopped by my local guy and he had very little to sell me. He had some pre-64 mixed coins (no dollars), for $21 per oz of silver and $24 "each" for silver dollars. I didn't buy any. when I got home, I checked out Ebay, and the best price for Silver half dollars was about $20 per oz of silver and you have to buy about $1500 lot ($100 face). I haven't checked now that the price is even lower.
So, just curious, is your "buy it now" price of $13, the spot price or the real price you will have to buy the dealer ?
Personally, my "buy it now" price is $16 Real Price. I suspect it'll have to get as low as about $10 spot price for me to get a $16 Real Price.
edited: I just checked ebay, pre-64 half dollars still at $20 per oz silver content.
Last edited by JonB_in_Glencoe; 08-03-2015 at 07:07 PM.
~~~~~~~~~~~~~~
“If someone has a gun and is trying to kill you, it would be reasonable to shoot back with your own gun.”
― The Dalai Lama, Seattle Times, May 2001
I have always bought OLD solid silver (90-ish%) half dollars. US coinage is easy to trade and is a very solid value Old coins are worth more that those silly 100% silver things the peddle on TV. And you know they are real. Ever try to trade or sell a bar of silver or gold??????? NOT easy! Not easy at all because no one really knows or trusts what you have, even with marks!
Stick with old coins.......Liberty or Franklin silver halves......$20 St. Gaudens gold coins (pre 1934).
I agree with BJ, OLD USA coins. These guy (Puerto Rico) are in trouble. Talk about a haircut.
"payment of "debt service on these bonds is subject to appropriation, and the lack of appropriation means there is not a legal requirement to pay the debt, (sic, my bold) nor any legal recourse for bondholders."" $58M was due. Openheimer bond holders get the shaft.
Whatever!
If you can buy something at a good price, buy it. Just because it becomes cheaper at a later date doesn't mean you didn't get a good deal already.
Greed makes people do strange things.
Considering that your federal reserve notes are intrinsically worthless, and gold and silver are not it makes sense to exchange some of them for the other. Being that our dollars are worth less than they ever were, (and will only get worse) I'm thinking a drop in PMs is and even BIGGER incentive to buy.
Check out my vendors section:
http://castboolits.gunloads.com/forumdisplay.php?231-Andy-s-Slow-Rust-Blue
"As democracy is perfected, the office of the President represents, more and more closely, the inner soul of the people. On some great and glorious day, the plain folks of the land will reach their heart's desire at last and the White House will be occupied by a downright fool and complete narcissistic moron."
H.L. Mencken
I'd start pulling the trigger now and follow it down. I buy silver dollars, maple leafs and British coins mostly because people recognize them and will always take them. Silver bars? How many guys on the street will take them as payment for anything.
I Am Descended From Men Who Would Not Be Ruled
Fiat Justitia, Ruat Caelum
IMHO silver bars and st gaudens are faked so much I would never buy them.
I stick with 90% U.S. Silver pre 64 coinage.
Life is so much better with dogs!
The $13 price is the market price. Then add in about another $1.20 an ounce if you buy 100 ounce bars from a place like APMEX. But nothing is in stone. I had one 100 ounce bar in the cart just about an hour ago and wife didn't feel comfortable about buying it so will wait and see.
Got a 50/50 chance I did the right thing, lol.
PS: I never had a problem selling bars since buying my first one in the 1980's. AMPEX will buy their bars back at spot.
Last edited by snowwolfe; 08-03-2015 at 08:38 PM.
East Tennessee
Lol, well there is this thing or things I didn't have enough of so I just figured I would get plenty to go around if needed. Turns out some other people needed them more than I so some went by,by. It all works out in the end right?
On the question about how I buy silver usually I will get some in auction, or from pawn shops but I pay about $1-2 per oz above spot after shipping/dealer. I like 10 oz name brand bars like Amark, and silver art bars. The coins I like the most are the Canadian silver coins. They are 4 9's pure instead of 3.
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