Just noticed that silver briefly dipped below the $14.00 line earlier today. Been quite some time since I've seen prices in the $13s, although, as I'm writing this, spot sits at $14.01.
Buying opportunity?, or my classic buying mistake of "trying to catch a falling knife'?
Noticed APMEX currently has an EBAY special, selling 2015 BU silver eagle rolls for $339, or $16.95 per coin. Also the lowest I've seen in awhile.
Any thoughts?
TCK
TCK,
On my Ebay watch list, I use the memo box where you can leave yourself a note. Except, I put "11/30...$339" and this way I keep a visual note of how a vendor like APMEX or SILVERTOWN changes their Buy IT Now sales as silver market prices change during the day and during the week. APMEX wrote me when I asked why their BIN auction changed, and said their EBAY accounts are set up to change their listed prices "every 10 minutes if the market changes".
What just floored-me happened about two weeks ago. I saw APMEX was selling silver in lots/rolls of 20 eagles. At the last of their sale, the Ebay page showed 39,000 rolls were sold!!! They must know something we don't. If silver was projected to go up before the end of December, why would they sell such a huge number of silver rolls? Even since then, I've seen APMEX sell over 1,000 rolls of silver eagles in one of their BIN offers. Wish I knew what was going on.....
The only thing that keeps me looking at the silver bullion is when I realized what I missed out on after 9-11's twin towers' tragedy. In the following weeks, I well remember that gold went below $300 an oz. and the memories of what "IF" I'd taken $10,000 out of my IRA and bought gold still haunts me.... But, everybody was scared to do much else other than stop spending and watch as much and as many newscasts in the following days. The car companies went crazy trying to sell their 2001 and 2002 vehicles with low/no interest loans and large sticker credits. My aging vehicle made me question the need for gold as to reliable transportation in case something else happened to cause prices to skyrocket or if there were shortages in all types of manufactured goods. Common Sense weighed-out and I didn't buy gold.
So, over the years I've taunted myself as to what I should do about buying PM's. I've come to the conclusion that buying precious metals is identical to buying car/homeowners' insurance. You are going to spend the money on insurance because it's required by your Mortgage Company or State Law for your auto. Most years all you get is the ability to buy your license plates, safety sticker your auto and lots of "Peace of Mind". But, I've realized something! There has not been a single time where when the insurance was needed to repair damage roofs to my home and out buildings, I've always come out ahead. The grand total collected by the insurance company of $2,000.00 a year has been well UNDER the amount paid out. Between major storms' damage by golf ball size or larger hail over a 15 year timespan, this last repair claim totaled just over $52,000 of checks paid by the insurance company.
Like any expenditure, it's going to take a good and a creative look at the monthly household budget. But, it might mean just a shorter vacation or keeping the lawn tractor a few more years; major or minor trade-offs can be found. I'm thinking that buying/finding silver and gold compares the same way as buying household insurance. In 15 years from now, how much profit can be made by then, or between now and then by spending $200 to $2000 a year solely spent on PM's? Plus, physically having PM's offers "Peace of Mind", too. You've got to start somewhere; now is better than two years ago.
I'll keep stacking...
Bill
