Is anyone still buying silver at current spot prices?

clovis97 · Mar 26, 2011

Anyone still buying silver at today's spot price of $37+ ?

I had a few extra dollars last Thursday, and purchased 4 silver dimes and a 40% half at a flea market. At the prices I paid, all of the coins were just under melt. Today, I decided to buy a few of the Walkers that had been priced at $12.50 each, but when I got there, someone had beat me to it.

The manager of the flea market said that a guy came in and purchased almost $2,000 in silver coins from two vendors. Those vendor's cases are nearly wiped out.

Who is still buying at spot prices?

Who is scared of the silver market falling or think silver is overpriced?

quiksilver · Mar 26, 2011

When i buy at current prices it is when its a dip in the price

FIRE310 · Mar 26, 2011

I'm still buying if I see it a bit under spot. I think we will have a dip but its going to keep going up. I kick myself for not buying more ASE or peace dollars when silver was 5 an oz. In five years I dont want to go , "man wish I'd have bought more at 35 an oz"...

We budget 100 a month to strictly buy silver with. Doing this over the months and years is just like buying in the markets every month , we are kind of "cost averaging" our purchases.

FreedomUIC · Mar 27, 2011

JewlerDave (Here on TNET) is a good source for 1toz ingots. Just got some from him.

Yes, I do purchase silver in many different ways. Seems my favorite place has now added a "PayPal" fee to each purchase which makes the Spot +/- quite difficult to swallow. I buy from my dealer, get a good price and I buy quite a lot of Silver Proof Sets on the Bay for at spot or below. I pick a dollar amount
and won't go over it. Got a surprise one morning and found out I had won 9 bids, all for 19.25
cents a piece, shipping was only $5.00 for the whole lot which made the sale just under spot... :hello2:

I buy any chance I can. Any spare change goes to PM's which includes Gold. My safe deposit box at the bank had to be upgraded... :laughing7:

. I am also an "Old Coin" fanatic and just love it when I find Barbers of any denomination at my coin shoppe, have quite the stash plus a complete Dansco album of them. I am currently working on upgrading each coin now to at least a "F" condition....

I have 15 years left until retirement and this hobby/buying will supplement it quite nicely. I am expecting gold to be at least $2000 and silver close to $100 if not more by that time. I will continue to buy until I feel that Silver has reached its peak and will become stable, like it was prior to this past year.

buckanear · Mar 27, 2011

Agree with FreedomUIC.Bought mint sets at melt.Think they will increase.Bid what your willing,leave it.Don't win a lot but happy with my price.

blkcwbyhat · Mar 27, 2011

If I were at a coin show or flea market,I'd pay close to melt,as there are no taxes or shipping.On ebay,I'll only go spot minus the shipping or so. I even bid on coins that look like they were run over a few times,but someone always comes in to speculate.I think I've only won a couple off ebay.

FreedomUIC · Mar 27, 2011

blkcwbyhat said:
If I were at a coin show or flea market,I'd pay close to melt,as there are no taxes or shipping.On ebay,I'll only go spot minus the shipping or so. I even bid on coins that look like they were run over a few times,but someone always comes in to speculate.I think I've only won a couple off ebay.

The best time is Sunday between 9 and Noon. Just got 15 sets this morning, most paid was
21.20 - Free Shipping.

Just gotta look harder and try different combinations of searches to get what you want. Even misspell the word Proof to Poof and you would be surprised. Picked up a 1957 Poof Set for 12.50 + 3.00 for
shipping about six months ago. Idiot couldn't spell Proof and paid for it... :laughing7:

Generic_Lad · Mar 27, 2011

I've been only buying older silver lately. Bought myself a 1844 half dime and a 1829 capped bust dime this weekend. But as for buying things like Washington Quarters or Roosevelt Dimes, I haven't done that since silver was in the $20 range. And while I do feel like silver could go down, I'm still kicking myself for not buying silver at $10 an ounce only a year ago. I just simply can't see the dollar recovering from inflation once the banks loan the money they have in stock from the Fed and I don't want to be sitting on a large wad of cash when that happens.

NHBandit · Mar 28, 2011

Generic_Lad said:
I've been only buying older silver lately. Bought myself a 1844 half dime and a 1829 capped bust dime this weekend. But as for buying things like Washington Quarters or Roosevelt Dimes, I haven't done that since silver was in the $20 range. And while I do feel like silver could go down, I'm still kicking myself for not buying silver at $10 an ounce only a year ago. I just simply can't see the dollar recovering from inflation once the banks loan the money they have in stock from the Fed and I don't want to be sitting on a large wad of cash when that happens.

Agreed. Yesterday I bought 2 Barber Halves at the local flea market for $15 each. Just a touch over melt but no shipping & no tax & they're 100 years old so doubtful they'll ever be worth less no matter what the bullion price does.. By the way, never let a dealer try to charge you a sales tax on US coins. They are legal tender no matter how old and technically when you buy one you it's no different than going to a store and asking them to make change for you.