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RyanAKL
Penny Pincher Member
USA
224 Posts |
 Posted - 02/24/2009 : 12:51:51
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I have been buying silver rounds and bars for a couple of months now, should i start buying more or hold off for a while to see if the spot price of silver goes down? and on ebay i have been paying five or more over spot but at the flea market im only paying $1.50 over spot, is this a good deal?
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Dan52
Penny Collector Member
USA
422 Posts |
Posted - 02/24/2009 : 14:09:55
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| The time to have loaded the wagon was back when it was 9 dollars an ounce. All to often, people buy investment instruments, when they are all the rage with a corresponding high price. Buy low, sell high still holds. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/24/2009 : 14:30:29
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Well. . .yes and no. I think the price of silver will ultimately hit $20/oz (perhaps higher). When and if the price of silver does explode, $14/oz will seem like a bargain. I would continue build up small to moderate amounts at these levels; but I would intensify my efforts on any pull backs.
If your silver is from a recognized producer (silvertown for example) 1.50 over spot is a nice deal. |
Edited by - theo on 02/24/2009 14:32:13 |
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RyanAKL
Penny Pincher Member
USA
224 Posts |
Posted - 02/24/2009 : 14:35:04
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quote:
Originally posted by theo
Well. . .yes and no. I think the price of silver will ultimately hit $20/oz (perhaps higher). When and if the price of silver does explode, $14/oz will seem like a bargain. I would continue build up small to moderate amounts at these levels; but I would intensify my efforts on any pull backs.
If your silver is from a recognized producer (silvertown for example) 1.50 over spot is a nice deal.
well what if its only the art bars or rounds at 1.50 over spot, is it still a good deal? it still holds the same metal value. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/24/2009 : 14:43:33
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quote:
Originally posted by RyanAKL
so you think i should hold onto my money till the spot price lowers? do you even think it will be back down to 9 dollars an ounce?
No I would buy a little here and there especially when you can get it at a low premium. But then I would buy a little more on the pull backs. Just remember if the dollar gets in trouble and price of silver shoots up; you'll be happy to have the silver and not too concerned about what you paid for it.
Although anything is possible, but I'd be surprised if got below $10 an ounce in the near term. The concerns about the dollar are not going away. |
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Mikep2020
Penny Collector Member
USA
402 Posts |
Posted - 02/24/2009 : 14:45:00
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| The spot price will not drop significantly, any dips in price will be temporary, with a steady upward trend over the next few months. I firmly believe that people should buy like there is no tomorrow, because eventually the paper dollar will be worth more as firewood kindling than as real money in the not to distant future. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 02/24/2009 : 14:49:04
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quote:
Originally posted by RyanAKL
quote:
Originally posted by theo
Well. . .yes and no. I think the price of silver will ultimately hit $20/oz (perhaps higher). When and if the price of silver does explode, $14/oz will seem like a bargain. I would continue build up small to moderate amounts at these levels; but I would intensify my efforts on any pull backs.
If your silver is from a recognized producer (silvertown for example) 1.50 over spot is a nice deal.
well what if its only the art bars or rounds at 1.50 over spot, is it still a good deal? it still holds the same metal value.
Honestly, I'm not sure what you mean by "art bars" I typically focus on coins. But if you can demonstrate to a dealer (in a selling situation) the purity and the amount of silver you have, then you should be ok. |
Edited by - theo on 02/24/2009 14:50:03 |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 02/24/2009 : 15:18:31
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| art bars are just silver bullion with pictures or writing. They almost always say 1oz .999 pure silver. |
Trolling is an art. |
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oober
1000+ Penny Miser Member
USA
1304 Posts |
Posted - 02/24/2009 : 17:39:47
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We cant really tell you whether its still a good time to buy, we each have to make that decision based on our plan....
If your holding for 5yrs or more, it may be a good time still, if your looking to flip, it may not be a good time.
Do I think its still a good time? Ya, but I cant tell you if its a good time, understand?
I am not buying as heavily at the moment, just enough to make sure my dealer sees me every week. I am putting 50% of my normal budget for pullbacks I expect to see this summer. |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 02/24/2009 : 18:28:23
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If you are planning on buying and holding it for awhile than YES BUY BUY BUY. In my opinion silver is still at a discount from where it should be!
If you are planning on buying to flip and make a small profit in the next few weeks or months, than yes I would buy BUT it all depends on your time frame you have to work with. Anything under $14 is a BARGIN! |
Copper Penny Investing
www.portlandmint.com |
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Nickelless
Administrator
USA
5580 Posts |
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Topic |
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Is right now the best time to invest in silver?
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