Silver trading at $26

[jrskblx125]

i bought 40 oz of silver eagles at 31. if it dips again im gonna buy again. screw buying land with my 15k in the bank!

 

[tribute_13]

Where do you guys buy your silver?

 

[Krugerrand]

Where do you guys buy your silver?

There are lots of threads about this. It's usually prudent to have a positive established relationship with your local coin shop(s). I posted above that I purchased a small amount from Midas Resources. Their prices are respectable and they are promoters of liberty and Ron Paul. There's an online dealer that is supposed to be the best for very large purchases (but I forget what it is at the moment ... it may have been referenced in this thread). Apmex, bullion direct are some reasonably trusted names.

 

[pmbug]

... There's an online dealer that is supposed to be the best for very large purchases (but I forget what it is at the moment ...

tulving.com

 

[WilliamC]

So did anyone actually lock-in any physical silver at $26?

I didn't think so...

$32 per ounce is more realistic, and still a good deal, IMO.

I got in at $28 and change buying some 1 oz Silver Eagles but there was a $5 premium and sales tax

edit: I'd love to be buying more as it dips below $30 but I'm down to my eatin' and gas money for the month

Fortunately I predict we'll continue to see 20% and greater daily swings as the great silver futures trade continues to slowly unravel, coupled with the wild stock market swings which will drive silver volatility much more so than gold.

The Eagles I just bought at ~$34 each I'll sell when I can get $50 or so, but dang if the price drops below $25 and I can get my hands on any cash at all I'll buy as much as I can.

 

[Seraphim]

If your plan is to sell at 50$ you should be in ETF's and not physical metal.

I got in at $28 and change buying some 1 oz Silver Eagles but there was a $5 premium and sales tax

edit: I'd love to be buying more as it dips below $30 but I'm down to my eatin' and gas money for the month

Fortunately I predict we'll continue to see 20% and greater daily swings as the great silver futures trade continues to slowly unravel, coupled with the wild stock market swings which will drive silver volatility much more so than gold.

The Eagles I just bought at ~$34 each I'll sell when I can get $50 or so, but dang if the price drops below $25 and I can get my hands on any cash at all I'll buy as much as I can.

 

[devil21]

I usually buy at APMEX. I have gold member status there so shipping is always $10 flat rate. Even with their higher premiums APMEX comes out as the cheapest I can find due to this. My local shops all charge sales tax, which adds up quickly and wipes out any benefit to buying from them at a lower premium.

 

[_b_]

I usually buy at APMEX. I have gold member status there so shipping is always $10 flat rate. Even with their higher premiums APMEX comes out as the cheapest I can find due to this. My local shops all charge sales tax, which adds up quickly and wipes out any benefit to buying from them at a lower premium.

I'm in the opposite situation since there is no sales tax on metals where I live if you make larger purchases ($1000 or more). That makes buying at the local shop cheaper than APMEX by a little bit. I'd like to order from tulving but their minimums are more than I can buy for now (someday hopefully). On top of that, I like being able to walk into a store, talk to a person, and trade paper for metal. It is a great feeling.

 

[cubical]

Why aren't you guys using the Nucleo Exchange at bullionexchange.com? You can buy 1 coin for the same price you would buy 1000. You can find some great deals there at times.

 

[tribute_13]

What was the high on silver this past summer. I remember it surging.

 

[devil21]

What was the high on silver this past summer. I remember it surging.

IIRC silver hit $50/oz.

 

[WilliamC]

No way, physical only for me.

I'm poor as dirt and can't afford not to hold onto the few assets I have left.

If your plan is to sell at 50$ you should be in ETF's and not physical metal.

 

[kognition]

I have started as of last month buying circulated silver quarters for my daughters savings instead of putting money into her account. So i had been watching silver closely since then. I saw the dip, but the reason i was not alarmed was because i knew that it was artificially created by the european banks very likely flooding gold and other metal reserves into the market in order to create more paper euros. And the timing was right in line with it. I watched the euro move slightly upward during that time as monday morning came around. I am no financial guy, just a small business owner trying to get a grasp on the global financial situation. And i seriously must say that the apps on my phone have really helped inform me on all of these financial and political variables. I thought about buying some more coins when the price had dropped, but i have to limit my monthly amount with a business to run and mortgage etc.

 

[Seraphim]

Why sell at 50$ then?

I concur with Mike Maloney:

"First then threat of deflation (2008), a helicopter drop (base money cash infusion/expansion), then large inflation...and then REAL deflation...then hyperinflation."


The world is running out of fiscal options. I'm a little confused as to why you would want to sell at 50$. When viewed through the lens of history, society is setting itself up for a crash and burn scenario.

To each his own, I suppose.

No way, physical only for me.

I'm poor as dirt and can't afford not to hold onto the few assets I have left.

 

[WilliamC]

Why sell at 50$ then?

I concur with Mike Maloney:

"First then threat of deflation (2008), a helicopter drop (base money cash infusion/expansion), then large inflation...and then REAL deflation...then hyperinflation."


The world is running out of fiscal options. I'm a little confused as to why you would want to sell at 50$. When viewed through the lens of history, society is setting itself up for a crash and burn scenario.

To each his own, I suppose.

I'm not going to sell all of my silver at $50, just enough to take some profits from what I bought at $16.

One of these days my 270,000 + mile car is going to die on me, and despite being essentially homeless and jobless and dealing with medical issues and being separated from my wife and family I still have to have an investment strategy.

So I'll sell maybe 5 to 10% of my silver at $50, if I'm able I'll just hold onto the cash and if it dips again to where it's worth it I'll buy some back.

Next target for selling off some will be $100, but that's a ways down the road.

Also, the coin store I have access to now will trade metal for metal without going through cash or taxes so as the silver/gold ratio gets to 30:1 or less I'll trade enough for a few ounces of the real PM.

 

[Dr.3D]

I'm not going to sell all of my silver at $50, just enough to take some profits from what I bought at $16.

One of these days my 270,000 + mile car is going to die on me, and despite being essentially homeless and jobless and dealing with medical issues and being separated from my wife and family I still have to have an investment strategy.

So I'll sell maybe 5 to 10% of my silver at $50, if I'm able I'll just hold onto the cash and if it dips again to where it's worth it I'll buy some back.

Next target for selling off some will be $100, but that's a ways down the road.

Also, the coin store I have access to now will trade metal for metal without going through cash or taxes so as the silver/gold ratio gets to 30:1 or less I'll trade enough for a few ounces of the real PM.

Silver is the real PM.