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Thread: Anyone buying any PMs now?

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  1. #1

    Apr 2008
    3,207
    183 times

    Anyone buying any PMs now?

    As funds allow I am still adding a bit here and there. Got some low premiums assorted ASEs that are mixed years recently. Had a couple of nice '96 coins in there too so I was happy. Since I got them for about the same as generic I am happy, even though some in the bunch had the dreaded milk spots that do not dip out at all. Normally I am not a fan of ASEs due to the high premiums and they tend to get the spots over time in my opinion, but for a cheaper price I will buy them as much as I can.

    Jim
    R.I.P. Rich Hartford

  2. #2
    us
    Nov 2011
    Sulphur, NV
    1,497
    419 times
    All Types Of Treasure Hunting
    Just bought a little over an OZ today, and 3 OZ on Monday. Paid about $9 for all of it. Ill be sticking to my silver even if it goes to $10/OZ though no way in hell that is happening. Not with comrade Obama in charge and our congress spending my great great great grand kids money.
    stefen likes this.

  3. #3
    us
    Mr. FreedomUIC to you!

    Jan 2010
    NUNYA
    1,917
    394 times
    All Types Of Treasure Hunting
    Got a five oz donkey bar yesterday and several proof sets. $149 for the Donkey Bar with free shipping and the Proof sets at 16 a pop with free shipping....
    [R.I.P. Rich Hartford - Champion CRH of All Time]

  4. #4
    us
    May 2011
    Kentucky
    815
    160 times
    All Types Of Treasure Hunting
    I'm still buying. Every time I buy at these relatively low prices it improves my DCA.
    "Hello from deep within the copper mines of Western Kentucky."

    "Keep your hands off of my stack."

  5. #5
    us
    Mar 2009
    A Place In Heaven
    Excalibur 1000, Garrett Scorpion.
    1,832
    186 times
    All Types Of Treasure Hunting
    I'm a Stacker and still going strong no matter the spot price.

  6. #6

    Apr 2008
    3,207
    183 times
    Got a few more lower premium slightly blemished ASEs today (Thursday) for 50 cents over spot. Although I have nothing to base this on, I believe at some point this year PMs are going to start rising again and these prices will be gone until the bull market finally ends. Of course I said that late last year and was wrong, so maybe I will be wrong again. Either way, I will keep buying at these prices as cash flow allows.

    But I do know I will not buy any more silver once it breaks $35. At that point I am done buying. Maybe will switch back to gold once the silver to gold ratio drops again (if it ever does).

    Jim
    R.I.P. Rich Hartford

  7. #7
    us
    Mar 2009
    A Place In Heaven
    Excalibur 1000, Garrett Scorpion.
    1,832
    186 times
    All Types Of Treasure Hunting
    I'm with you Jim I'm still Stacking anytime I get spare cash I buy. That was a great deal you got on those AE's and I also believe this price is gonna go up sooner rather than later to much crap happening right now in the world. Keep Stacking

  8. #8
    us
    Jul 2006
    4,360
    662 times
    All Types Of Treasure Hunting
    This seems to be a confusing period for PM's. This following article is a good read to get a glimpse of what is going on now.

    Gold

  9. #9

    Apr 2008
    3,207
    183 times
    Bought a little more for the stash today. Although I am not a fan of buying 90%, I was offered some Unc. 1964 Kennedys for 20X face, which came to about a buck under spot per ounce. Got some nice .999 for 50 cents over spot too.

    Jim
    R.I.P. Rich Hartford

  10. #10
    Charter Member
    us
    Aug 2008
    Michigan's Left Coast
    Whites MXT, Whites 6000 Di Pro, Garret Grand Master Hunter, Tesoro Tejon, Fisher 1265X
    564
    Quote Originally Posted by jim4silver
    Bought a little more for the stash today. Although I am not a fan of buying 90%, I was offered some Unc. 1964 Kennedys for 20X face, which came to about a buck under spot per ounce. Got some nice .999 for 50 cents over spot too.

    Jim
    I actually like 90% when I can get a good price. You did good.
    "I'll keep my God, my freedom, my guns, and my money.
    You can keep "THE CHANGE."

  11. #11
    us
    Mar 2009
    A Place In Heaven
    Excalibur 1000, Garrett Scorpion.
    1,832
    186 times
    All Types Of Treasure Hunting
    Hi! Jim if you don't like the 90% I'll take it of your hands. Lol Good deal by the way.

  12. #12

    Apr 2008
    3,207
    183 times
    I don't dislike 90% per se, and I used to love finding it at face value when I was into CRHing. But I know from talking to some old timer coin dealers that back in the 80s when silver was shooting up to 50, the coin dealers were not paying anywhere near melt for 90% because so much was being dumped on them by sellers due to the quick rise in price and refiners had too much so they weren't paying the coin dealers much for it. One told me the most he remembered paying for it was 36 bucks per ounce. That's a big haircut when silver was near 50 for at least a while.

    So when I can get .999 at a better price based on local buy/sell spreads it is a no brainer for me to get the .999 over 90%. I believe that if/when silver does take off past 50, we will see pretty much the remaining junk silver and silverware get sold that is now being held by non silver bug types who are holding grandpas coin collection, etc, for sentimental reasons. By the time we get to that silver price, many folks will need the cash so when they see the price get that high and hear about it on TV, they will sell I believe. At that point it will be mostly the PM bugs holding their metals waiting for 100 bucks, don't know if we will ever get that or not.

    Since I don't know when I would sell a bunch of my silver (50, 60, 70, ??), I want to be able to get the most I can when I sell, and I believe I will be able to do that with .999 over junk. I still have some junk silver from my CRHing days and from my early days as a silver bug when I was buying that exclusively.

    Another problem with alot of the junk silver is that it is highly worn. I believe that when silver takes off in price, junk will start being bought by weight and not face. When that happens, those who invested in worn liberty quarters, Walker halves, mercs, etc, may have an unpleasant surprise when they sell.

    I would really like to get cheapo silver dollars, but even with the good coin dealers I buy from now they want way too much premium even for lower quality coins based on melt. If they ever sell these at melt or below like the halves, etc, I would buy a bunch of the silver dollars simply because they are cool. These coins have the widest buy/sell spread for any common form of silver coins I see around here.

    Jim
    R.I.P. Rich Hartford

  13. #13
    us
    Oct 2009
    4,794
    2151 times
    All Types Of Treasure Hunting
    I bought another 100 oz when it hit $27. Wish I had more spare cash to keep buying while it's down. It's going back up sooner or later.

  14. #14
    Charter Member
    us
    Aug 2008
    Michigan's Left Coast
    Whites MXT, Whites 6000 Di Pro, Garret Grand Master Hunter, Tesoro Tejon, Fisher 1265X
    564
    Quote Originally Posted by Jason in Enid
    I bought another 100 oz when it hit $27. Wish I had more spare cash to keep buying while it's down. It's going back up sooner or later.
    I agree - I am buying mire this week too
    "I'll keep my God, my freedom, my guns, and my money.
    You can keep "THE CHANGE."

  15. #15
    Charter Member
    us
    Aug 2008
    Michigan's Left Coast
    Whites MXT, Whites 6000 Di Pro, Garret Grand Master Hunter, Tesoro Tejon, Fisher 1265X
    564
    Quote Originally Posted by oneeye

    I agree - I am buying mire this week too
    more
    "I'll keep my God, my freedom, my guns, and my money.
    You can keep "THE CHANGE."

 

 
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