Is this a good buy?

[apush]

Coinflation currently lists silver @ $29.10 oz.

Westminister Mint has 1 oz generic bars and rounds @ $30.28 & ASE @ $32.58.

I am thinking about spending $500.00 on a combination of the two. Good buy? I buy out of state so I don't have to pay sales tax.

Thanks for any comments and advice,

apush

 

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[mts]

People are probably getting tired of hearing me say that if you want to make money, do the opposite of what I do. But I'll say it again just to CMA.

With that said, I would probably not buy now as I expect a further decline over the next week/month/year. Just gut feeling. Nothing real to base it off of. I don't see silver rebounding in the next few days anyway so there is probably little risk in waiting a little bit longer to see how it all shakes out. If silver recovers by the 6+% that it lost today then you really haven't missed anything in the grand scheme of things. Those of us holding for the long term really don't care about the difference between $28 and even $32 unless we are going to make a really big purchase. But if silver tanks to $20 then it would be pretty significant in my book.

I've been buying a little here and there just so that I don't miss out on $30 should it go back up forever. But I'm holding off to see if we hit the low $20's again. If we do, I'll make a much bigger purchase. I believe that jim4silver is using the same strategy.

 

[apush]

Thanks mts. I am hesitant. Perhaps that is a sign.

Muchas Gracias,
apush

 

[Dave44]

I somewhat agree with mts. I am still holding, but willing to buy, I will not buy at spot or above right now, but If the price is right I will jump. In the low 20s I am all over it, and in Au I will do the same strategy. My buying crazy point will be about 1100. Good luck and remember to "average" your purchases!

 

[Marchas45]

In answer to your question yes it's a good buy especially only a couple of dollars over spot but what is the shipping and handling costs? that may change everything. I also noticed it went down some more.
I buy when the price falls and I just bought some last night as I'm not the one to wait to see if it goes further or higher and I don't toot my horn. I love silver and I buy it and I haven't lost yet and if it goes down some more or goes higher I will still be buying.

 

[Dave44]

In answer to your question yes it's a good buy especially only a couple of dollars over spot but what is the shipping and handling costs? that may change everything. I also noticed it went down some more.
I buy when the price falls and I just bought some last night as I'm not the one to wait to see if it goes further or higher and I don't toot my horn. I love silver and I buy it and I haven't lost yet and if it goes down some more or goes higher I will still be buying.

But you are a player!!! I do not have any problem with that and appreciate all of your advice, but I believe "apush" Might be a small player like me and caution and averaging May be a good strategy! Then again, If the future looks extremely bullish get it while you can!
What is your outlook? I am cautiously bullish.

 

[Marchas45]

Hi! Dave I just answered Apush's question, she asked if this was a good buy and I said yes. I believe the price will go back up around $31.00 tomorrow and that's as far bullish as I want to be. Like Jim and MTS say "Do the opposite of what I say". Lol but I do believe silver will close tomorrow around $31.00 so I'm sticking my neck out there on that one.
If I new the answer I wouldn't be working right now.

 

[Mackaydon]

IMO, to buy, or not, would be based on my goal: short term profit or long term appreciation. If my goal was short term profit, I would NOT buy till silver is under $25 (within six months). If my goal was long term profit, I'd start to accumulate now--but not invest my total investment allotment--take 'baby' (investment) steps; nor would I buy above the current price; patience. (Watch the price resistance levels; buy after the 'breakthroughs'; 'ratchet down')
Don.........

 

[jim4silver]

Apush,

It all depends on how much you already have and your goals. If you already have what you feel is a decent stash, then I would wait like MTS says. If you feel you don't have enough, then no harm in adding to the stash in the amounts you mentioned. The prices you quote are not great, but not bad either. Seem pretty much in line with what is charged here on the ASEs.

Either way, I would not go "all in" at these prices levels, because there is a possibility we could see low 20s.

I plan to dollar cost average like I had been doing up until a few months ago. But I had been buying more gold and a small amount of platinum since last year. I won't start accumulating silver in large amounts (to me) unless it gets cheaper. I was buying silver when it was 10-20 bucks per ounce mostly, and it is still hard for me to pay 30+, even though I have bought some over the past year over that price. I want to have more silver though, so if the price doesn't correct and instead shoots up in the near future, I will be SOL on building my silver stash to where it needs to be.

Jim

 

[FreedomUIC]

Apush,

It all depends on how much you already have and your goals. If you already have what you feel is a decent stash, then I would wait like MTS says. If you feel you don't have enough, then no harm in adding to the stash in the amounts you mentioned. The prices you quote are not great, but not bad either. Seem pretty much in line with what is charged here on the ASEs.

Either way, I would not go "all in" at these prices levels, because there is a possibility we could see low 20s.

I plan to dollar cost average like I had been doing up until a few months ago. But I had been buying more gold and a small amount of platinum since last year. I won't start accumulating silver in large amounts (to me) unless it gets cheaper. I was buying silver when it was 10-20 bucks per ounce mostly, and it is still hard for me to pay 30+, even though I have bought some over the past year over that price. I want to have more silver though, so if the price doesn't correct and instead shoots up in the near future, I will be SOL on building my silver stash to where it needs to be.

Jim

Out of curiousity Jim, where should one be on the oz. of silver they need. Between Peace Dollars, ASE, Maples and 5oz Bars I have
quite a bit but always want more. AU, might have 1 to 1/2 oz. right now, more to come in the future. I am just curious what you
would consider a "Safe" amount of each.

 

[jim4silver]

Apush,

It all depends on how much you already have and your goals. If you already have what you feel is a decent stash, then I would wait like MTS says. If you feel you don't have enough, then no harm in adding to the stash in the amounts you mentioned. The prices you quote are not great, but not bad either. Seem pretty much in line with what is charged here on the ASEs.

Either way, I would not go "all in" at these prices levels, because there is a possibility we could see low 20s.

I plan to dollar cost average like I had been doing up until a few months ago. But I had been buying more gold and a small amount of platinum since last year. I won't start accumulating silver in large amounts (to me) unless it gets cheaper. I was buying silver when it was 10-20 bucks per ounce mostly, and it is still hard for me to pay 30+, even though I have bought some over the past year over that price. I want to have more silver though, so if the price doesn't correct and instead shoots up in the near future, I will be SOL on building my silver stash to where it needs to be.

Jim

Out of curiousity Jim, where should one be on the oz. of silver they need. Between Peace Dollars, ASE, Maples and 5oz Bars I have
quite a bit but always want more. AU, might have 1 to 1/2 oz. right now, more to come in the future. I am just curious what you
would consider a "Safe" amount of each.

Freedom,

That is a personal decision everyone has to make for themselves. I really don't know what amount for me is "enough". I figure that when I get there I will think about putting my investment money into other things besides PMs.

One way I think about it is, if I woke up tomorrow and silver was 100 bucks an ounce would I be able to sell what I have and live well, retire, etc? Right now for me the answer is a big no. I would get a nice return on what I had, but would not be wealthy enough to stop working.

I worry that if/when things get very bad economically enough to propel gold/silver to new heights, what will the job/business markets be like? If we were to have another depression, there would be alot of unemployment (way more than the high amount we already have), especially since we don't have the manufacturing jobs nor service sector jobs like we used to.

Back in the 30s, people were not dependent on gov handouts when the depression hit like they are today. Even though they had soup lines and such, the people basically had to fend for themselves. In recent times in our country, even when things were going well economically, we had multitudes living on welfare, food stamps, and other gov freebies. Imagine what would/will happen if things get so bad the gov freebie faucet gets turned off?

If that scenario were to happen, I want to have enough PMs to live on so as to not worry about a job or running my business, etc. May be hard for me to get enough PMs to reach that goal, but I plan to keep trying.

Jim

 

[clovis97]

We haven't seen silver break the bottom resistance point of $27 or $28, right?

I personally think this drop is temporary. I don't think it will shoot up overnight, but I think silver will hold in the low $30's.

From what I've read, if silver were to drop below the resistance/support level of $27, I think it could easily drop into the low $20's.

 

[FreedomUIC]

I am in this for the long haul, at least 12 more years. My plan, if you can call it that, is to supplement my income after retirement.
We do have property in another state but it might take five or more years before it becomes feasible to sell it and possibly retirement
from two different resources for both me and my wife. My plan is to have enough where each month I can turn some in and use
it for "Fun" during our golden years.

At any rate, that is our plan. If gold and silver do break that mystical barrier and hit $2,500 and $100 respectively, then retirement
could be at 62 1/2 for me, that is my secondary plan for right now. It is a waiting game at this point but I do continue to add to
my stash. One thing that I decided early on was that my silver purchases would be in the form of bullion and gold would be "libs"
in any denomination although I do have some gold in bullion.

Anyways, that is my plan and we are working that plan. I will let you know in 12 years if it worked or not....

As a side note, I keep everything in a SDB except a little for emergencies, it makes for a peaceful nights sleep.....