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When is it time to buy more silver?

Discussion in 'Gold Silver (All things Metal)' started by Weatherman, May 4, 2017.



  1. Weatherman

    Weatherman In GIM since 2006 Gold Chaser Site Supporter

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    My Wild A$$ Guess is that the small amount of war premium remaining in metals will continue to slip away and metals prices will drift lower into the dog days of summer. After the June FOMC meeting (and the next interest rate rise all but promised by the FED), I hope to buy in again. Until then, I plan to keep sitting on my hands.

    The article below has a different timetable, so DYODD.

    Time.jpg
    The Hardest Trades Are Often Right: Time To Buy Silver?
     
  2. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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    It's off 10%+ in the last 30 days. I like it under $16 and load up under $15.
     
    Last edited: May 4, 2017
  3. solarion

    solarion Gold Member Gold Chaser

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    I like silver in here. Bitcoin has had a great run and silver has been bushwhacked. Seems a great time to swap one for the other.
     
    Silver Art likes this.
  4. Dude

    Dude Midas Member Midas Member

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    Got some pucks for 94.50 each, britannias for 1.25 over and eagles at 2.29 over. Crazy morning...
    Almost 4K that I just spent spur of the moment. APMEX, JM Bullion and SD Bullion. Don't know if it was a good move but the combo of reasonable premiums and drop in price made it hard to resist. It was kind of like buy a roll, damn it, down another 30 cents, gotta buy another roll or another 5 pucks [ATB's].
     
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  5. Howdy

    Howdy Silver Member Silver Miner

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    If silver was available at spot, I'd buy right now.
     
  6. Dude

    Dude Midas Member Midas Member

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    You can get 69 cents over spot all day long, as long as you don't care what form it is. APMEX BUYS your eagles at $1.50 over spot as long as you got 10K worth. They have to pay $2 over spot to the mint. You want to pay spot (or under)? Dig around when eBay has the ebay bucks at 8 or 10%. Belly up to the bar. Will it hit $13 again? Who the hell knows? I got stocks and rentals but who the heck knows what's going to happen there either.
     
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  7. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    It is been my experience that .999 silver is usually not available for spot. The LCS's in my area charge anywhere between as low as 50 cents over spot to as high as $5-$6 over spot (mainly for SAE's) for .999 silver. With that said, I have scored old silver art bars for spot or slightly under but that has happened only 3 maybe 4 times during the 8 1/2 years that I have been collecting old silver art bars.
     
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  8. Howdy

    Howdy Silver Member Silver Miner

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    I would buy 90% silver at $16 too, if I could find it. What it boils down to is that spot is less than what silver sells for and therefore means little to me. If I can buy silver for $16 I will buy some and if it later becomes available for $15, then I'll buy a bunch more. "Spot" price has little to do with it. It's the price of silver I'm concerned with. "Spot" is what my dog has on his hide.
     
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  9. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I am ALWAYS buying and selling silver (mostly '70's silver art bars) and I am not waiting to find it for, for example, $16.00. Spot silver is currently $16.31 (kitco quote). I am not going to find 1-oz '70's silver art bars and certain silver coins for $16.31 or lower but I can (if I put my effort into it) find them for between $18.00 to $19.00 and that is good enough for me.

    However, I will say that in my case as a PM buyer is different from yours (I think) in that I am not a true silver stacker that buys it for $0.50 over spot and puts is away and forgets about it. I am a collector that buys certain silver pieces that I like for the lowest premium possible but I am also a seller of them when (not if) I find them for .999 generic silver premiums (usually between $1 to $5 over spot) and sell them for a collector's premium (usually between $30 to $100 per bar) since have an ebay sideline business selling '70's silver art bars.

    As an online silver art bar reseller on ebay (and elsewhere online), I am always looking for '70's silver art bars (and certain silver coins) for the lowest premium possible over the current spot price of silver and selling them online for as much of a collector's premium as much as the market will bear for an FRN profit. At this point, I bank all of FRN profits from every '70's silver art bar and collector silver coin that I made an FRN profit on. I am still waiting for that special '70's silver art bar for a great price. I will also find duplicate silver art bars to put away in my "business stack" that is marked for resell in the future.

    As a silver art bar collector, I find them for the lowest premium possible to add them to my personal collection.

    That is just me and how I do things as a PM buyer/seller. That is how I make money on silver while still adding old silver art bars in my personal collection. I cannot afford to wait for a certain price for the spot price in silver because a certain old silver art bar will show up at a LCS or coin show and I will purchase it regardless of what spot silver is doing at the moment if it one that I am looking to add to my personal collection or if it is one that I can sell for a collector premium online if I buy it at the right price.

    Each PM buyer/seller is different and there is nothing wrong with that IMO. I felt that I had to explain myself for everyone to get an understanding on how I do things.

    EDIT: I did add more to this post. I tend to ramble some and can get "long-winded" but my overall point is still made in this post.
     
    Last edited: May 7, 2017
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  10. southfork

    southfork Mother Lode Found Mother Lode

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    Went to one LCS yesterday who had sold me 90% at under melt a few weeks back, he said he wholesaled all his 999 and .90 afraid the price is going lower.
     
  11. stAGgering

    stAGgering Silver Miner Seeker

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    There is a sign of near bottom.... in numbers however, not time.
    SilverArt works physical silver as do I, and gold.

    The remainder out there, waiting for no premium, under $pot, free delivery, refund if bullion scratched, I would buy if + or - XYZ, BS'ers.
    Resembling a hooker only working for, under 30, great physical shape, short haired, well dressed, nice shoes, gold watch, tricks.
    Nothing wrong with waiting for it, such may pass, although it is not working.
    Silver and gold never get old, tricks and hookers do.
     
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  12. Howdy

    Howdy Silver Member Silver Miner

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    I would not assume the price is going lower based on that, but I hope your speculations are correct. Did you ask the reason? I don't think LCS know anything we don't know, unless they're big boys connected to the banking cartel.
     
  13. Thecrensh

    Thecrensh Gold Member Gold Chaser

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    Which big bank still has a gazillion ounces of the stuff? When they start selling, it might be a good indicator of when to buy? IDK...this buy/sell stuff is confusing, so I just hold on to my 1 90% coin I inherited from my Grandfather....
     
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  14. Howdy

    Howdy Silver Member Silver Miner

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    I doubt any big banks have a gazillion ounces of silver because buying it would drive up the price, which they don't want. I do think they have a huge volume of gold though, acquired long ago and not used up for industrial purposes.
     
  15. stAGgering

    stAGgering Silver Miner Seeker

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    I many ways correct for both metals.
    However, there is one aspect absent.
    Large banking corporations own mining stock and mine company, corp, or LLC... debt.
    Thus, such banks own what remains in the ground, a percentage of what comes forth, voting rights as stock holder, and
    untold leverage in the unseen control of the market or individual mines.
    View the market and mine reaction, or lack of, as metal prices fluctuate on a production cost razors edge.
    If a mine company fails, who wins ?
    If a mine company succeeds, who wins ?
    In some instances, "The Matrix" is highly visible, such so the majority does not see.
    Got Elephant ?
     
  16. TomD

    TomD It blowed up, y'all Platinum Bling

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    There are a number of possible reasons to buy silver: short term speculation, long term speculation, hedging FRN's, as a part of a diversified portfolio, prepping, hobbyist collector, or because you just like it. I'd venture that for all these reasons, save short term speculation, this is a good time to buy.
     
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  17. Howdy

    Howdy Silver Member Silver Miner

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    The bankers don't want mining companies to succeed or fail. they want them to sell short, thereby keeping metals prices down and paper money up.
     
  18. Buck

    Buck Fabian Society Gold Chaser

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    The bankers want to be hedged, in all of it, and if it's no good, they want to leverage it into derivatives
    Once they're all invested "wisely", we'll see our long over-due "correction" and we'll come out of it stripped of some type of value, once again

    But:
    Q
    When's it not time to buy a little bit more?
    A:
    When you're standing on top of the mountain, selling
     
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  19. louky

    louky Silver Member Silver Miner

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    When you dont have silver stacked to the ceiling like beer cans, it's time to start buying more.

    I've been done buying it for some time.
     
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  20. Dude

    Dude Midas Member Midas Member

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    Last time I spent more than 3K was when silver hit lows in 12/2015 and loaded up on $16.55 eagles. This time that was approx. where spot was. The 8% ebay bucks on $50 auctions pushed me to sellers that had 5 ounce ATB's in the non-bullion categories, since that category is excluded. You can still find bullion outside of bullion categories, so if you are OK buying graded for a little more, it's a good way to diversify the silver. I don't buy x dollars when a paycheck rolls in. I wait for a grand entrance.
     
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  21. louky

    louky Silver Member Silver Miner

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  22. louky

    louky Silver Member Silver Miner

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    That's when i finished buying and went all in to my goal.

    Though I did get too much cash in my account several months back and bought like 500 additional ounces of international trade bars for 17ish shipped when silver was 18 spot (crazy deal)

    Funny how an ounce of silver would cost me more now with spot price in the toilet @ 16

    173.40 for 10 oz on fleabay
     

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