Since the price of silver is falling, need some help with buying!!!!!

[ugotit22]

Hey guys
My mom has been doing this with me since i started. Since the price has been falling she wants out. I told her i would buy her stash from her. Since its my mom i figured i would pay her 90-95% of spot, is that good. or do you think i should just give her spot.
Keith

 

[coolpix9]

Keith, If you can't steal from your Mother,who does that leave ? Give her spot and when silver goes back up, give her a big hug. Paying spot for silver halves that cost her 50 cents each is not an insult. Good Luck, Jim

 

[jim4silver]

I don't think you should pay more than she would get if she sold it to a reputable and fair coin dealer, unless you just want to give her extra money to be a nice son.

I am not so sure I would buy "junk" silver myself. It is great to find at face value, but when I buy silver I like to get bars and rounds of .999. I was told that last time silver went to the moon, "junk" silver was deeply discounted even more than .999. But if you buy it at the same price a dealer would pay her, you are getting a decent discount compared with what you would pay for it as a purchaser from the dealer, thus it may be a good deal for you.

Jim

 

[ugotit22]

Keith, If you can't steal from your Mother,who does that leave ? Give her spot and when silver goes back up, give her a big hug. Paying spot for silver halves that cost her 50 cents each is not an insult. Good Luck, Jim

I figured i should. She wanted to sell to the guy i normally sell to. I said if hes going to give u 80-85 of spot il give you 90-95, but i might just do spot instead.

 

[LJ]

Keith, If you can't steal from your Mother,who does that leave ?

Jim - Your hilarious!!

Keith - Agree with Jim...you will do okay if you give her spot...besides, it's Mom right....ha.....in the long run you will make money on it. You might remind her though that now is the time to buy....not sell.

Anyway, I hope it works out for both of you.

 

[ugotit22]

Keith, If you can't steal from your Mother,who does that leave ?

Jim - Your hilarious!!

Keith - Agree with Jim...you will do okay if you give her spot...besides, it's Mom right....ha.....in the long run you will make money on it. You might remind her though that now is the time to buy....not sell.

Anyway, I hope it works out for both of you.

LOL i told her but she thinks its going to fall and not come back up

 

[solariscool]

You might want to show her a chart of each year and let her see what happens after August. Maybe you could talk her into keeping half of it.

 

[coinmojo]

Does she need the money? If not keep it and sell her share when you sell yours. In other words she gets paid when you get paid. No love lost.

Mojo

 

[LJ]

I just checked the current silver price.....$13.76 as of time of this post.......tell her I'll give her 5% over spot....ha!










J/K

 

[jim4silver]

WTF!! Gold and silver are getting kerslammied tonight in the Asian market. I am kind of glad because there is a 3 day coin show in town starting tomorrow and I have a stack of paper fiat that I planned to take and exchange for precious metals. I was gonna focus on gold but with the silver gold ratio at 58.62 to 1 at this moment, I guess silver is a better deal. Guess I will get more now if the price stays low.

Jim

 

[Silver_Fox]

Give her 10% under. When it comes to $$, you have to think with your wallet, not your heart.

 

[jersey devl]

Give her 10% under. When it comes to $$, you have to think with your wallet, not your heart.

dang SF...I thought that post was from patrick Earl at first

 

[BBcardsRI]

Down to $12.76 right now.

Tell the woman I will give her 110% of spot. =) Literally!

Some crazy stuff going on with PMs and the Economy right now... CRAZY stuff.

If she REALLY needs to sell, then 100% of spot is NO problem because unless you have a good dealer, when you buy, you WON'T get that good of a deal. Plus it is more than she will get from a dealer, so it is a win-win for the both of you.

As far as the guy who said junk silver is bad. I wouldn't say that. A lot of the stuff online as well as my two good dealer friends all say that the first grand or two invested in silver should be JUNK silver. They like it a lot! Then the next few thousand should be .999 and a weee bit of gold. Then the 7.5k to 10k+ range starts really getting into gold. Junk is good because you can break off into different denominations AND it is garunteed 90%. Bars and rounds can be fake...filled... etc.

~Dave

 

[Silver Celtic]

I agree about junk silver being good to start with . US Junk silver at some point could actually become very hard to come by , even though it doesn't seem that way now .

As far as silver prices dropping and never rising , I find that near impossible to contemplate in a free society . Based on the fact that it is not a renewable resource , and it is a heavily wasted industrial favorite both now, and for the foreseeable future . I would adamantly try to convince her to hang on for the ride , especially if she paid face value . It's certainly worth the risk , and the time to wait .