Bought some today May 7

[jim4silver]

Decided to use the recent correction to add positions. Bought some Engelhard 10 ouncers for 1.25 over spot, plus a few Sunshine Minting 10 ouncers as well.

I believe Monday morning silver will either continue to fall or will start a counter-trend rally back up towards 50. Either way I felt I should start buying again, even if it does fall more. If that happens, I will add more each 3 dollar or so fall in price. If it gets into the mid 20s (it probably won't) I will use all my "dry powder" available for PM purchases and be happy.

While my "core stash" is put away, I may decide to sell any new silver I buy on this correction if it gets back to 50 just so I can know I made a decent return on my investment money, unlike what I can get in a bank CD or even stocks (unless you pick the right ones).

Anyone else buying today?

Jim

 

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[dogpound]

i got to my local dealer first thing this morning, i was lookin to buy some 1 oz. rounds....nodda, the only thing he had besides coins was one 10 oz. bar so i snagged that up for 37 bucks on oz.

 

[Marchas45]

Heck I've been buying this past week, did a deal yesterday and the day before with a couple of locals looking to sell their little stash because of the falling prices. I snagged a dozen AE's from one of them and a bunch of rounds and bars. total for that deal was just over $1000.00 but I have already made money on them as I bought everything under melt and then the spot went up by 2. I also bought 5 rolls of UNC Peace dollars for $2500.00 on ebay couldn't beleive that one and I can't wait for those suckas to get here so I can check them out, so not a bad week. Lot of people are uneasy with the falling prices but I think the silver will start climbing Sunday night.

 

[Vodka1000]

So you guys think that silver AT LEAST will stay around 35-37 range
The free fall stopped ?
Today silver was available in many coin stores for 37-37.50
This was not a scenario last Thursday or Friday
WHY

 

[jim4silver]

So you guys think that silver AT LEAST will stay around 35-37 range
The free fall stopped ?
Today silver was available in many coin stores for 37-37.50
This was not a scenario last Thursday or Friday
WHY

I don't have a strong opinion either way, but if I was forced to bet I think we will see lower yet, maybe not this week (it might go back up for a while, maybe even test 50 again) but then I see it going lower but only for a short time.

Many of the big traders in silver make money when it goes up and down, as long as they are on the right side of the trade. I think it is going to take the dollar really going lower or some more bad events in the world that cause fear and panic to push silver beyond 50 for an extended period.

I would not be surprised to see a short term dollar rally that might cause PMs to go a bit lower.

As far as silver being available I believe that many are selling now, especially those that bought at 50 and are now afraid and those who bought at low numbers and want to take profits instead of risking further if silver continues to fall. Anyone who bought at 10 bucks and sells now is still making a huge profit in dollars.

Jim

 

[Vodka1000]

The biggest misconception in my opinion was the dead of the SOB
This alone make the "stupid/smart" people manipulate the market.
It was a perfect storm
Don't know if us over but don't think we will see again drops of 3-4 dollars in a single day.
But I'm nobody - just try to stay above the water

 

[jim4silver]

The biggest misconception in my opinion was the dead of the SOB
This alone make the "stupid/smart" people manipulate the market.
It was a perfect storm
Don't know if us over but don't think we will see again drops of 3-4 dollars in a single day.
But I'm nobody - just try to stay above the water

I could be wrong but I don't think the OBL thing really mattered. The big deal was that the price rose too far too fast to be maintained at this point in time. That does not mean it cannot do so later. For silver too maintain any level means people are willing to buy silver at that high price at that time, not that the silver is thought to be worth that much in the opinion of us silver and gold bugs.

Some of the pundits who I think know what they are talking about say that when silver really gets heating up towards the end of the bull market, the market swings will be huge. Some say that gold will range 100 dollars per day up or down, or even more.

I think what we just saw in the recent past will happen more in the future, both upwards and downwards. It may not happen again for a few weeks or maybe months, but as long as the bull market continues the volatility in silver gets worse as the bull market peaks from what I have read.

Jim

 

[Vodka1000]

Latest this morning:

http://mobile.reuters.com/article/idUSTRE73786N20110509?irpc=932

 

[JD-GA]

The comex changed the margins 5 times in 48 hours even with silver going down they continued to keep pushing the margins trying to force a huge silver crash. May 9th has passed, the new rules are in place, and silver has had 3 strait days of big gains. I realize that the "correction" was huge and swift but WOW did it not work when only 3 days later silver is up nearly $6 from its low. This is AFTER the crash and manipulating the prices by changing rules. What else can they do to effect it at this point? The nuclear option was just attempted and failed. Anything more obvious will draw too much attention to the corruption.

Come on silver!!!

 

[Vodka1000]

The comex changed the margins 5 times in 48 hours even with silver going down they continued to keep pushing the margins trying to force a huge silver crash. May 9th has passed, the new rules are in place, and silver has had 3 strait days of big gains. I realize that the "correction" was huge and swift but WOW did it not work when only 3 days later silver is up nearly $6 from its low. This is AFTER the crash and manipulating the prices by changing rules. What else can they do to effect it at this point? The nuclear option was just attempted and failed. Anything more obvious will draw too much attention to the corruption.

Come on silver!!!

The comex changed the margins 5 times in 48 hours
Can you explain it to a newbie --

 

[jim4silver]

The comex changed the margins 5 times in 48 hours even with silver going down they continued to keep pushing the margins trying to force a huge silver crash. May 9th has passed, the new rules are in place, and silver has had 3 strait days of big gains. I realize that the "correction" was huge and swift but WOW did it not work when only 3 days later silver is up nearly $6 from its low. This is AFTER the crash and manipulating the prices by changing rules. What else can they do to effect it at this point? The nuclear option was just attempted and failed. Anything more obvious will draw too much attention to the corruption.

Come on silver!!!

The alleged reason for the increase was the volatility increase in the silver market, which could apply if prices are going up or down.

They are raising one of the crude oil contract margins by 25% starting at close of the markets today. I wonder if that will affect oil's price downward or not.

Jim

 

[Vodka1000]

Got today 10 - 1998 Peace Dollars and Eagles for $50 bucks ea.
Private party,
Was that good deal ?
I can get more tomorrow.
Ftf

 

[mts]

Got today 10 - 1998 Peace Dollars and Eagles for $50 bucks ea.
Private party,
Was that good deal ?
I can get more tomorrow.
Ftf

I don't think there is such a thing as a 1998 Peace Dollar and Silver Eagles are running $45.47 at APMEX. So I'm assuming that what you printed above is probably a typo. But either way, I don't think that it was a stellar deal so I'd look elsewhere before buying more.

 

[Marchas45]

Got today 10 - 1998 Peace Dollars and Eagles for $50 bucks ea.
Private party,
Was that good deal ?
I can get more tomorrow.
Ftf

To much Derek, I would only be paying $28.00 - $30.00 for the Peace dollars unless they are nice looking Uncirculated coins. As for the AE's I would be only be paying up to $41.00 but that's me it's the Scottish in me. Check around and see what there going for on ebay. I go with ebay prices and those sellers pay fees and I remind the seller that I'm dealing with of that so their price should be less. Good Luck. Charlie

 

[Vodka1000]

Got today 10 - 1998 Peace Dollars and Eagles for $50 bucks ea.
Private party,
Was that good deal ?
I can get more tomorrow.
Ftf

To much Derek, I would only be paying $28.00 - $30.00 for the Peace dollars unless they are nice looking Uncirculated coins. As for the AE's I would be only be paying up to $41.00 but that's me it's the Scottish in me. Check around and see what there going for
on ebay. I go with ebay prices and those sellers pay fees and I remind the seller that I'm dealing with of that so their price should be less. Good Luck. Charlie

It was a Walking Liberty 1 dollar coin

 

[dogpound]

vodka are you sure that 98 walking liberty dollar wasn't a 1 oz silver round?

 

[Vodka1000]

vodka are you sure that 98 walking liberty dollar wasn't a 1 oz silver round?

1999 - I think they are about $57 bucks or so....///?

 

[mts]

1999 - I think they are about $57 bucks or so....///?

A 1999 American Silver Eagle (ASE) runs about $46 on APMEX. But you would have had to pay shipping as well so you need to factor that into the price.

http://www.apmex.com/Product/1060/1999_1_oz_Silver_American_Eagle_Brilliant_Uncirculated.aspx

 

[Vodka1000]

Almost 4 bucks down

WTF

 

[jim4silver]

Almost 4 bucks down

WTF

If it breaks below 33 I think we will see 28 or so eventually, which is the next line of support. I bought a bit today after the price got below 36. I probably won't buy anymore unless it gets to 32 or so. Premiums have gone up around here just in a few days. While the paper price is dropping not as much selling the last couple of days from what I hear. I cannot believe that people here are paying OVER 4 bucks premium on ASEs. No way will they recoup that premium at sell time. I will happily take the generic .999 for 60 to 75 cents over spot if I can get it.

Jim