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JerrySpringer
Penny Hoarding Member
669 Posts |
 Posted - 01/24/2009 : 13:10:26
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I am seeing too many junk-type silver coins and ASEs popping up on CL and Ebay for sale. I am too anxious to buy some if I can get them near spot. I think I know what this means. I need to keep steadily at acquiring silver slowly and non-frenzy like. Folks, I have been here before with other types of investment or collection bents. First, every dollar spent on street price silver is one less dollar that can buy 2 silver halves from a box ordered from a bank. Second, we have yet to see the sheeple jump on the precious metals bandwagon. We might never and silver prices could say flat for years. I am OK with that. My belief is that hard assets ala silver, or, gold, is very viable to use as a backstop. There will always be a market for precious metals. Pricing for them ,well that is another matter. At this point, I have not sold any of my coins and hope never have to. I am hoping that all this is a nice psychological hedge that will be a heirloom of coins to give my family's future offspring some day.
I am writing this because I think markets can be very fickle. When I see an abundance of silver on Ebay and CL, I think there can not be a shortage. Nobody is buying heavily ,yet. Perhaps nobody has the cash? Will people all of a sudden have cash to buy if prices go parabolic? What would that tell you about price? If gold heads towards $1500/ oz and silver to $20/oz, it will be interesting to see how the online market reacts with supply. I am using Ebay and CL as a proxy, but you folks can cite other places like kitco and apmex for silver info.
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 01/24/2009 : 13:17:52
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You have to have a plan when investing, whether it is in paper assets, real estate or some other type of physical asset.
Restraint is needed in any and all investing.
IMO the key is sticking to what you can afford and only investing money that you know you wont have to access for a long time, thus decreasing your chances of losing money.
When you can access/spend on your terms you can sell when the market is best for you.
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 01/24/2009 : 13:22:14
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quote:
IMO the key is sticking to what you can afford and only investing money that you know you wont have to access for a long time, thus decreasing your chances of losing money.
+1
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/24/2009 : 14:10:14
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I try to go by the rule of dollar cost averaging and trying to buy some each month, with a little more purchased on the dips. Also I only try to buy what I can afford so that I am not overextending myself and not able to pay the bills.
Perhaps some of the reason you are seeing the abundance of silver on EBay and CL is the fact that people are losing their jobs and having to liquidate or they think silver will go down in value or they need the cash to pay for the holiday bills (could be a combination of any of these). |
My hobby: collecting real money 1 copper cent or nickel at a time.
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 01/24/2009 : 14:50:58
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| I think I made a case for dollar cost averaging somehow too, but I worded it in another direction. My good-problem-to-have observation is that there is plenty of silver out there still. We have not yet had a panic-driven frenzy for people to secure silver into their possession. My concept of things are that we could hit a turning point when folks weigh whether it is wise to spend $$ on many non-needs like sporting events or concerts or meals out or bling-bling and convert to a hard asset. I am talking the same ideas that hard-money folks have been for years. I have come around to that thinking only this past year. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/24/2009 : 15:14:58
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| I worry when I see advice on forums such as this to go into silver with 100% of your investment/savings and sell "a little" if you need the money. In an up market that could work out well, but then what if.............? |
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Think positive. |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 01/25/2009 : 00:11:41
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quote:
Originally posted by Ardent Listener
I worry when I see advice on forums such as this to go into silver with 100% of your investment/savings and sell "a little" if you need the money. In an up market that could work out well, but then what if.............?
Yep never too good to put all your eggs in one basket. Financial advisors may tell you to do 10-15% in PM's (but probably push you towards PM stocks). I prefer to have a little more in PM's in this economy with the real possibility of the dollar crashing hard. But I definitely wouldnt go all in, and keep some cash, some in silver, some in gold, some in copper...you get the idea.  |
My hobby: collecting real money 1 copper cent or nickel at a time.
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 01/25/2009 : 22:49:46
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| Having to hold onto my hunting $$$ forces ME to diversify between cash and PM's. I used to run down and buy some lil pieces of gold with procedes from sales of 40%, now I need the cash to keep hunting- turning cash into silver at FV is a beautiful thing. HH all, Mark |
"54/54/2280" |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 01/27/2009 : 08:20:12
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| Got 7.5 oz last night for $20.50 worth of halves. HH Mark |
"54/54/2280" |
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Self-restraint (long)
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