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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 05/20/2006 : 18:50:29
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Did any of you buy silver this weekend ($12.42 spot price)? I did. I still "spent" more money on nickels than silver, but I felt I had to get in on the lower silver price. How about the rest of you?
Bad money drives out good money.
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realcent
Forum Admin
USA
246 Posts |
 Posted - 05/20/2006 : 21:27:26
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No, but I wish I had. I spent most of today on the road and in another state with my wife and 2 kids visiting family.
I don't know if any of the local dealers are open tomorrow, being Sunday.
RealCent
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13 Posts |
Posted - 05/20/2006 : 23:47:10
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Had a funny discussion with a local coinshop.
Me: Do you have any silver dimes?
Him: They're $1.30 per. how many do you want?
Me (politely): None. I'm just checking prices.
Him: Well, you'll waste more money on gas than you'll save going somewhere else.
Me: Well, since you're marking them up 45% over spot, I'll take my chances.
I was told to leave. It was a shame, too. He had about 10 sets of "1942-1945 War Nickels" in really nice displays for about 70% of melt value. I'm going to have my wife go down there on Monday and help make some room in his display case for his junk dimes.
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In the land of the blind, the one-eyed man is King! |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/21/2006 : 17:03:00
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I noticed that the coin dealers that I talked to didn't seem to be in a good mood Saturday. I guess falling silver prices effect them too. Many of them are trying to get back the money they recently spent on higher silver. Also, lower silver prices may slow down the sales of their collector's coins.
Bad money drives out good money. |
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22 Posts |
Posted - 05/22/2006 : 12:20:07
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| I agree. Sold a good amount of silver at $13.50. I feel I did pretty good and i'll buy it back when it dips under 9. I would not be buying yet. |
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115 Posts |
Posted - 05/22/2006 : 13:12:09
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quote:
Originally posted by NJINJI
i'll buy it back when it dips under 9. I would not be buying yet.
I did not get a chance to buy this weekend. I do not think that we are going to see $9.00 silver again any time soon. Just my opinion.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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22 Posts |
Posted - 05/22/2006 : 13:36:18
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| my prediction is that we will by the end of the year. It was 9$ less than 3 months ago |
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 05/22/2006 : 18:21:06
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| Don't hold your breath on $9/ozt silver. |
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22 Posts |
Posted - 06/13/2006 : 20:50:24
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quote:
Originally posted by ImperialFleet
Don't hold your breath on $9/ozt silver.
:)
Right now on kitco $9.57
I think i'll wait till the 7-8 range before getting back in now. The only thing i'm regretting is not selling my silver eagle rolls. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/13/2006 : 21:27:38
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Honestly, I expected this correction. I was tempted to sell at $15.00 but this market has the potential to do much better than that.
I'm in this for the long term. If I was speculating with short-term money I would take profits as soon as they present themselves. Getting shut out of the PM market because of quick price gain after selling is more of a fear of mine than a correction like this.
As of late though I have not been buying much silver. I traded some gold rings for some silver eagles but that was about it. I stated here a while back that I felt much better about buying nickels than PMs. Yes, copper and nickel are down, but they will go back up over time. In the mean-time my nickel hoard still has its face value.
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If you can conceive it, you can achieve it. -Napoleon Hill |
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22 Posts |
Posted - 06/14/2006 : 09:46:39
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yea, I like silver for the long term, but as long as it bounces around, I figgure why not make some extra $$ off it.
I am kicking myself for not buying that 1000oz bar I was thinking of getting @5$/oz |
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115 Posts |
Posted - 06/14/2006 : 18:26:07
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Bought a little today. Got 10 1oz silver buffalo nickel replicas and 2 prospectors. I wanted to buy some more circulated morgans but the shop was out.
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain. --- Robert Frost |
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ImperialFleet
Penny Pincher Member
USA
217 Posts |
Posted - 06/14/2006 : 21:35:08
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Hey, I was wrong and I am glad. I'll eat crow on that one...yes, I am in the market. I haven't bought any yet, as I am still finding silver around $11...once I find a better deal I'll bite
“Ultimately, the Fed can flood the system by buying any kind of asset, or even dropping bank notes from helicopters" -Fed Chairman Ben Bernanke |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/15/2006 : 10:10:54
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quote:
Originally posted by NJINJI
yea, I like silver for the long term, but as long as it bounces around, I figgure why not make some extra $$ off it.
I am kicking myself for not buying that 1000oz bar I was thinking of getting @5$/oz
Why not indeed? My goal with silver is to put away long term what I consider to be enough if SHTF or retirement, what ever comes first. After I do that I may speculate with silver over the short term.
I know what you mean about that $5 silver, but silver was close to that for many years. Even after the Hunt brothers 79/80 price run up when it was at $50.
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If you can conceive it, you can achieve it. -Napoleon Hill |
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9 Posts |
Posted - 09/05/2006 : 18:00:25
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| I'm in for the long haul. I grabbed $1,500 face value (dimes, quarters & halves) back in 1998-99 when silver was in the $5 range and you could pick up $100 face value lots for $430. Partly to hedge against Y2K worries and to diversify my portfolio. This investmenr has outperformed many of my stocks so I'm keeping it. |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 09/05/2006 : 20:38:43
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| While I was on my last cross-province nickel buying spree, I also stopped by a coin store in Kitchener that's ususally quite overpriced. They had a big bin on the counter that said "canadian coins - 1/2 off marked price" Most of them were way overvalued, like $35 for newfoundland silver halves, but there were a whole pile of the extra-old (sterling silver) dimes, all of them in horrible condition with $1.25 price tags. Now the later, .800 silver dimes currently melt for 75 cents US, so with the 50% off they were a real deal. I got about 80 of them - spent 3/4 of an hour searching through the whole bin. |
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132 Posts |
Posted - 09/06/2006 : 06:20:58
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Shoulda,Coulda,Woulda............
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Did you buy silver this weekend?
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