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What's your Purchasing Strategy?

Bman33

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#1
What's your purchasing strategy right now with spot and premiums so high? I stopped buying gold and am making small purchases of silver a few times a week.
 

oldgaranddad

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#2
I'm just peering over the side of the boat hoping the water is clear enough to get a glimpse of what was once mine.
 

stas3000

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#4
Gold and silver are useless, no point in owning any. I trust in the Fed.

But if I had any interest in PM's... :) I'd be buying and selling all the time. I'd practice the ancient art of keep some and sell some. Mostly keep. The reality is that there are regular folks out there that are almost always willing to buy and sell which allows bypassing much of dealer premium. Now, that may not be helpful if you are purchasing $1k or $10k at a time. I'm talking about buying in $100-500 increments. However, premiums should not be too bad if you are making massive purchases.

Case in point: several really cool listings popped up in this forum's relatively dead Buy and Sell area. Prices were quite good I thought.

Makes me wonder... is spot price high now or am I just not making that much FRN's when converted to gold ozt? Rhetorical question.
 
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Fatrat

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#5
Looking for other "Stores of Wealth" ammo, dish soap, and whatever else I might need that will store long term...
 

EO 11110

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#6
like to buy bulk when spot price is low. reduce purchases and switch to more numi type stuff when spot is high
 

Cigarlover

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#7
Garden seed. I try to buy different things all the time, then make my own seed to replenish.
 

Goldhedge

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#8
I can't afford to buy AuAg... because the dollar is worthless!

My ring and gold crowns are worth more than I paid for them however....
 

MIavatar

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#9
Premium went way down on the fractional .999 rounds and bars on ebay from when spot was lower for some reason. They still are around $50 oz but they make cool jewelry and nice electrodes too. Only got a few hundred.


But if I had any interest in PM's... :) I'd be buying and selling all the time. I'd practice the ancient art of keep some and sell some. Mostly keep. The reality is that there are regular folks out there that are almost always willing to buy and sell which allows bypassing much of dealer premium.
I also resell for at least double on ebay but now they are with holding my payment from me even after I shipped and tracked the package.
 

Ragnarok

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#11
Just completed a Peace dollar set.
I’m out of the market for the foreseeable future.

R.
 

Ragnarok

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#13
I collect coins too. I might get the 1885CC Morgan that I have always wanted.
I’m working on a Morgan set too, and I’m pretty much down to the point where all that I have left to get are the rarer CHA-CHING!! key dates, Don’t know if I’ll ever complete it before I have another boating accident, but it’s fun nevertheless.

R.
 

EO 11110

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#14
i like the classic commem half dollars. but those key dates are ridiculous - hawaiian, hudson, spanish trail. easily 3k to pick up that $1.50 of face in MS condition
 

Ragnarok

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#15
i like the classic commem half dollars. but those key dates are ridiculous - hawaiian, hudson, spanish trail. easily 3k to pick up that $1.50 of face in MS condition
Same with the key date Morgans if you want something more than a slick placeholder until you can get a reasonable deal on something nice.

R.
 

Bman33

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#17
No luck on picking up halves from local banks. May have to order a box.
One of my guilty pleasures is Silver Prospecting/coin roll hunting. With the coin shortage it's really tough but I do have a bank that orders me a box a week. Haven't found much lately but just a couple of years ago I was adding 10oz of silver a month to my stack. Kept my cost per ounce down a little and was like free gambling. Hardest part was dumping the coins back to the banks.
 

hammerhead

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#18
One of my guilty pleasures is Silver Prospecting/coin roll hunting. With the coin shortage it's really tough but I do have a bank that orders me a box a week. Haven't found much lately but just a couple of years ago I was adding 10oz of silver a month to my stack. Kept my cost per ounce down a little and was like free gambling. Hardest part was dumping the coins back to the banks.
I always bring my duds to the banks I know that scan what customers bring in. I've found some interestingly hand packed rolls. I've also got some 90% from the fed.
 

Bman33

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#19
I always bring my duds to the banks I know that scan what customers bring in. I've found some interestingly hand packed rolls. I've also got some 90% from the fed.
Customer wrapped rolls are hit and miss but have the highest pay out when you hit. I've scored a few solid rolls of silver that way. Most of the time though they are someone else's dump.
 

hammerhead

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#20
Customer wrapped rolls are hit and miss but have the highest pay out when you hit. I've scored a few solid rolls of silver that way. Most of the time though they are someone else's dump.
Hells yeah. I got 4 twenty dollar rolls that were all 40's. Good day at the office.

That has been my strategy for the past couple of years. Silber at a tenth or a fifth of spot. And sometimes coinstar it kickback trays.
 

newmisty

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#21
Can't remember the last time I bought. My $ tied up in a home/investment.
 

Silver Art

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#22
I am not a stacker. I am a collector but i also sell and do it as an online business. I buy close to spot as possible (wholesale) and sell it on ebay or on social media for collector premium (retail). With spot at $24, i have to be selective on what i buy because i need enough room to make a profit on it after paying ebay/paypal/shipping.

It depends on the '70's silver art bar. A '70's silver i would buy (assuming low premium over spot) at $16-$17 spot i would not buy at $24. Sometimes i have to think like a businessman instead of a collector but that can be difficult.
 

the_shootist

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#24
Buy Mortimer buy!!!
 

RebelYell

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#25
I am not a stacker. I am a collector but i also sell and do it as an online business. I buy close to spot as possible (wholesale) and sell it on ebay or on social media for collector premium (retail). With spot at $24, i have to be selective on what i buy because i need enough room to make a profit on it after paying ebay/paypal/shipping.

It depends on the '70's silver art bar. A '70's silver i would buy (assuming low premium over spot) at $16-$17 spot i would not buy at $24. Sometimes i have to think like a businessman instead of a collector but that can be difficult.
Where do you buy wholesale?
 
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EO 11110

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#26
I am not a stacker. I am a collector but i also sell and do it as an online business. I buy close to spot as possible (wholesale) and sell it on ebay or on social media for collector premium (retail). With spot at $24, i have to be selective on what i buy because i need enough room to make a profit on it after paying ebay/paypal/shipping.

It depends on the '70's silver art bar. A '70's silver i would buy (assuming low premium over spot) at $16-$17 spot i would not buy at $24. Sometimes i have to think like a businessman instead of a collector but that can be difficult.
i think you should consider writing a book or a subscription newsletter

your posts inspired me and other hardheads to appreciate and invest in the genre
 

Silver Art

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#27
i think you should consider writing a book or a subscription newsletter

your posts inspired me and other hardheads to appreciate and invest in the genre
Hmmmmm........You might be onto something. The only real article that i have written on silver art bars was last year for IASAC (International Association of Silver Art Collectors). Anything is possible.
 

Silver Art

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#28
Where do you buy wholesale?
Coin shops, coin shows, flea markets, some private parties.

However, due to the Coronavirus pandemic, i have not been able to go to any coin shows in the last 6 months and it has been hard to find any '70's silver art bars. However, with spot silver rising, it might help me out some. I will see.
 

Nickelless

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#30
I got a painful blessing a week and a half ago when I received my wife's life insurance payout. I just picked up the second half of almost 2,000 ounces of .999 Ag today from the coin dealer my family has done business with for 50 years. I have no qualms about paying around $33 per ounce, cash and carry. Looking at what the useless Republican "leadership" and communist Democrats in Congress are doing to our country's economy and currency, I feel like a rich man. I have little else that people would consider valuable or extravagant. I'm just trying to protect what I have--an ounce of silver in hand is better than 10 ounces on the Fed's balance sheet!
 
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EO 11110

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#31
Hmmmmm........You might be onto something. The only real article that i have written on silver art bars was last year for IASAC (International Association of Silver Art Collectors). Anything is possible.
after reading yours posts i started picking up 'the mint' bars off of ebay. i never got any close to spot price, like you do.

i paid up for them and consider them a long term hold investment.

rainbow row, the olympic sams, flasher, clowning around.....and of course the sports
 

Silver Art

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#33
after reading yours posts i started picking up 'the mint' bars off of ebay. i never got any close to spot price, like you do.

i paid up for them and consider them a long term hold investment.

rainbow row, the olympic sams, flasher, clowning around.....and of course the sports
Yeah the Duane Spellman "The Mint" bars are very hard to find. The enameled one are nearly impossible to find online. Ebay seems to be the only place to find them. With a mintage of 200 (or less) per TM bar, it makes sense to me.

The Flasher (enameled and non-enameled) The Sam Olympic TM bars and the enameled TM Wide World of Sports bars are very hard to find with mintages of 200 (or less) per bar.

The last time that i found and bought any TM bars were some non-enameled TM bars that i purchased in 2016. I did not have them anymore because i sold them to grow my online silver art bar business. I still have a few rare pieces left in my personal collection but I gave up a lot of my rare bars to maintain (and grow) my silver art bar business and to start and grow my online comic boom side business. Letting those rare bars go was worth it because i have two small income streams outside of my regular full-time job.

With that said, when spot went up to $26-$28/oz. I was able to find some more rare silver art bars and paid "only" $3 to $3.50 over spot for each of them.

With spot at $28, my purchasing strategy has been the following:

1.) I have not been buying common silver art bars because they are more sensitive to spot price moves. If i buy a common silver art bar, it is only because i really wanted it

2.) I have been buying rare and semi-rare vintage silver art bars that (i think) will hold their premium if/when spot silver falls back to $13-$14/oz (or lower). That is hard to do because they are still very hard to find despite spot more than doubling and i try to find them at LCS and coin shows (if there is one) and other places for .999 generic silver premiums.

It is not full-proof but it works for me and some of the net profits that i use will be to buy more rare and semi-rare silver art bars.
 

gringott

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#34
Strategy? Strategy? I don' need no stinkin' strategy!
 

HistoryStudent

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#35

Yep just Like Portland, Seattle, and Minneapolis - "they don't need no stinkin' badges!"

I digress...

Anyway buy low (like now until the sheep realize they have been fleased by the EFTs like GLD),
ALSO buy in the middle (probably up to at least $25,000.00 - guesstimate),
and never sell; except for debts like your new soon to have DREAM car or RV!


If you have to sell for debt(s), only half should you sell in this MESS!
don't forget to invest AS in the above video in all kinds of LEAD!


Sadly...
 
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southfork

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#36
At age 70 im easing out a bit of metals, sold 700 ounces near the high and got over melt, one dealer offering 4,00 over for sae's as he has none and cant get any, was going to sell some but then silver tanked.
 

gringott

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#37
I've changed up my strategy to running around with my hair on fire. So far so good.
 

Cigarlover

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#39
Looking to add another 200 o's. Maybe 100 at 22 and another 100 at 20 if we go that low.
 

bb28

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#40
I want to buy some more. Do you guys see the price going down in the next few weeks? It seems like the cost per ounce to buy from dealers hasn't budged too much in the last month despite all of the movement in prices.

bb