Had to buy some coins! :-)

jrf30 · May 5, 2010

Silver closed at $18.80 per ounce on Monday. Tuesday it dropped to $17.92. This morning, it dropped again, all the way down to $17.10. What a drop for 1 and a quarter days! So I took advantage of it. I bought 60 American Eagle silver coins (1 ounce coins) this morning, at $19.30 per coin. I just don't think silver can be a bad buy, and having it drop so much so quickly gave me a shot to buy what I wanted. I should have bought more than 60 coins, but getting all the ones we get at FACE VALUE by finding them doing CRH just makes it hard to pay premiums for coins. I'm sur eyou guys know what I mean. lol. But I like the eagles, and the price was good, so I bought 60 more.

Hopefully silver will go back to $18.50 an ounce, and they will be sitting on some profit for me. :-)

obediah · May 6, 2010

Do not be so foolish- shortsighted, what good will a closet full of Silver be in a land where the rule of law is trampled underfoot and those in power are maddmen with no regard for judgment, justice and equity? Things are happening in our congressional law making bodies that will forever change US and make US a genuine tyranny!
I'm listenning to Alex Jones interview guests and highlight testimony in a push to fully cancel our Constitional rights- to be woried about silver & it's price now is, ardon me the height of STUPIDITY!

Search Alex Jones or go to INFOWARS.COM

GrayCloud · May 6, 2010

So what could you get for Fifty Pounds of Silver?

obediah · May 6, 2010

GrayCloud said:
So what could you get for Fifty Pounds of Silver?

A hernia if not careful!

Kauka · May 6, 2010

GrayCloud said:
So what could you get for Fifty Pounds of Silver?

most likely 22-inch biceps

mts · May 7, 2010

It looks like jrf30 did very well for himself. Silver just rocketed back up to 18.40 today! And I missed out on the dip. See... I told you I didn't know what I was doing!

packerbacker · May 7, 2010

Yep, it's at $18.35 at this moment. Didn't take long to climb back up. Stocks are still down from yesterday though.
Concerning 100 oz bars. If you are hoarding silver in case the poop hits the fan then you have a little paranoia. (not necessarily a bad thing given recent happenings) If you are then you should think about having more than one place to hide your stash in case it is found. If you have it in 1oz coins or 10oz bars it is much easier to distribute in different places. Now, say you go to get a loaf of bread on the black market and the price is 1oz of silver. (Just bear with me a little) Two problems here. If times are that bad do you want to be walking around with a 100oz bar? Secondly, now the black market seller will have to come up with 99oz's in change. See what I'm getting at?
Now, if you're just investing, go ahead and get the 100oz bars and keep them safe.
Usually you can buy silver at various coin or jewelry stores at a decent price. Then, if it goes way up in value, you can sell it right back to the same shop. If you buy from them, you pay a little over spot. If you sell it back to them, you get a little under spot. Basic economics.

jrf30 · May 7, 2010

I like the 1 ounce coins easier, because I can sell them retail much easier.

Bought 260 now this week, at low prices in this weird drop that happened with the market crash. May sell 100 tomorrow at $21.50, so that is not a bad profit for a few days. :-) I'll still keep the majority of the new ones, because I want to keep building, but nice to sell "some" off at a profit and drop my total commited dollars down for the ones that are left. :-)