| Author |
 Topic  |
|
|
dakota1955
1000+ Penny Miser Member
2212 Posts |
 Posted - 12/08/2009 : 13:51:58
|
|
I brought some silver this past weekend and I see that silver drop for the third straight day now. My question is does this happen to others or I'm the only one with bad timing?
|
|
|
barrytrot
Administrator
USA
721 Posts |
Posted - 12/08/2009 : 13:57:55
|
Please stop looking at the daily spot unless you plan on selling quickly.
Otherwise, I think the majority on here are (for the most part) buy and hold. Silver is a good investment but it becomes an AWESOME investment if economic collapse occurs or hyper inflation. |
 |
|
|
Investin Cents
Penny Pincher Member
USA
129 Posts |
Posted - 12/08/2009 : 14:07:25
|
dakota: I agree with barrytrot. See the post from a few days ago called "Did the PM Correction End Today?" I bought a nice chunk o'AG @ $17.35/oz. but now actually hope it drops to that or lower so I can buy more.
Does anyone believe the economic disaster is behind us now? I don't. I will buy as much as I can this Thursday & Friday when I go shoppin - but only at fair prices! Good luck! |
Most recent book I've read: "Meltdown" by Thomas E. Woods Jr. Current book: "I.O.U.: Why Everyone Owes Everyone & No One Can Pay" by John Lanchester |
|
|
|
AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 12/08/2009 : 14:11:19
|
I'm addicting to checking Kitco about five times a day, haha.
That said, I don't get excited easily, so I rarely buy when the price has been moving higher for too long without a drop. I'll see where silver is at the end of the week. If its below 17.50, I might get some more. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
|
|
|
dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/08/2009 : 14:31:04
|
| I do buy and plan to hold as I now have a safe full of silver but as far back in the 70's I seem to but at the top of the current market. I was wondering if I'm the only that seem to buy at the top of every spike in silver. |
|
|
|
AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 12/08/2009 : 14:36:31
|
| Just pick a price and make a conscious decision that you will buy when silver goes a certain amount below that price. For instance, when silver hit $19 you could have said to yourself, "OK, I will buy silver when it drops back to $18.25", or whatever you decide. This will ensure you don't buy on peaks. Everyone is afraid they will "miss the boat" when metals explode due to a big crisis, but the reality is, if you don't already have enough when that happens, an extra 10 or 20 ounces isn't going to make the difference. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
|
|
|
Nickelless
Administrator
USA
5580 Posts |
Posted - 12/08/2009 : 19:40:14
|
quote:
Originally posted by barrytrot
Please stop looking at the daily spot unless you plan on selling quickly.
Otherwise, I think the majority on here are (for the most part) buy and hold. Silver is a good investment but it becomes an AWESOME investment if economic collapse occurs or hyper inflation.
+1
People worried about the short-term look at paper investments and FRNs. People (like us) who plan for the long-term buy and hold as much PM as we can. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
|
|
|
PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 12/09/2009 : 09:37:56
|
quote:
Originally posted by dakota1955
I do buy and plan to hold as I now have a safe full of silver but as far back in the 70's I seem to but at the top of the current market. I was wondering if I'm the only that seem to buy at the top of every spike in silver.
You are not alone. I think it happens to many of us. I fell in love with the Silver Philharmonic in the summer of 2008. I had carefully watched prices for it for over a month. Finally found a price that I was comfortable buying at. Bought. The next day the price of silver begins to fall and doesn't stop falling for a long time. That said, try not to think in terms of one purchase price, etc. The key is DCA. AND, the tenacity to hold on until some emergency or well thought out exit strategy pulls it from your loving arms.
Sometimes all I have to do is get really bored and decide to watch an online current market price website that automatically refreshes for me. I go to the site and start seeing way more red than green for the changes.
|
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/09/2009 : 10:03:23
|
Happens to me all the time. If I buy it goes down. If I sell it goes up. So I sold a little last night at coin club to turn the market. Looks like it worked.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
|
|
|
dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/09/2009 : 10:19:04
|
| Thank you for selling that way the stuff I bought over the weekend will get back to what I paid for it |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/09/2009 : 10:22:47
|
| Always glad to help. Might be short lived though. There might be somebody needing Xmas money at the coin club I go to tonight.. and I might have to buy more silver if the price is too tempting. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
|
|
|
PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 12/09/2009 : 13:50:09
|
| Do you think if silver drops significantly that the price above spot will go up? It seemed that when silver hit $9 an ounce (I think it was 12 to 18 months ago?) that the asking price above spot was pretty high because people didn't seem to want to let go of their physical silver at that low of a price. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
|
|
|
PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 12/09/2009 : 13:57:42
|
| It also seems that physical silver is getting harder to find. Not sure if you guys have found that to be true? I go to my local coin store and they never seem to have any junk silver that they can sell me. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
|
|
|
Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/09/2009 : 14:04:18
|
| tulving still has junk at spot plus 19 cents and lowered premium on ASE's from 2.99 to 2.49; silver maples are at 1.99. not worried but if the price is down for a long time premiums will creep up. prices have been relatively high so i have no problem finding silver. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
|
|
|
|
wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 12/09/2009 : 14:25:55
|
Yeah, I hope silver drops back down to $12 an ounce. It would make me so nauseous but I would definitely buy lots more silver!!!
But buy at what you are comfortable at and then stick to it, don't doubt yourself.
Even purchases at $25 an ounce will look good/cheap in 20 years, 10 years, 5 years and maybe even next year! |
"May your percentages ever increase!" |
|
|
|
PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 12/09/2009 : 14:30:01
|
| Wow those are pretty good prices and shipping is free? |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
|
|
|
Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/09/2009 : 15:32:25
|
quote:
Originally posted by PennySaved
Wow those are pretty good prices and shipping is free?
yes, but very high minimums - a full bag or 500 ounces.
i mention his site just because he has all his prices on one page and tends to have a competitive price. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
|
|
|
|
myfundsarelow
Penny Collector Member
USA
388 Posts |
Posted - 12/09/2009 : 16:22:51
|
| HI ALL, BUY HIGH, SELL low YOU CANT beat this system for losing money, PEACE!! |
|
|
|
Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/09/2009 : 16:33:15
|
quote:
Originally posted by myfundsarelow
HI ALL, BUY HIGH, SELL low YOU CANT beat this system for losing money, PEACE!!
says the guy who just sold me some silver. lol |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
|
|
|
|
myfundsarelow
Penny Collector Member
USA
388 Posts |
Posted - 12/09/2009 : 16:41:01
|
| HI ALL, BUY HIGH, SELL low YOU CANT beat this system for losing money, PEACE!! |
|
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 12/09/2009 : 19:43:52
|
quote:
Originally posted by dakota1955
I do buy and plan to hold as I now have a safe full of silver but as far back in the 70's I seem to but at the top of the current market. I was wondering if I'm the only that seem to buy at the top of every spike in silver.
The reason you feel like that is because it does spike and top when you buy. You represent hundreds of thousands of buyers who do the same thing. They wait and watch the price climb, they don't buy. The price climbs some more and still they watch. Finally the price climbs so far (most buyers are already in) that you can't stand the temptation (greed) and fear that you'll be left out as the price runs away. When you buy (and your couple of hundred thousand friends do the same) the market temporarily runs out of buyers and the price falls.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
|
|
| |
Topic |
|
silver bound to drop
Forum Locked
