Buy PM's Now?, or wait?
Ok everyone, what's the concensus concerning the price of Silver and Gold? How long and at what level should small timers like myself wait to start stocking up? Many of the pundits stated that >$30 and $1600 should trigger a buy, but the prices seem to keep dropping. Now I wonder at what price we should wait for? Thanks for the advice.
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Replies to This Discussion
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Permalink Reply by Gary on -
I almost pulled the trigger last night on my 2012 Silver Eagle Roll plus one for my album but decided to hold off a bit, although i dont think we are going too much lower for silver? Very interested to hear others thoughts as well!!
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Permalink Reply by Indentured Servant on -
Personally, I just try to buy every week regardless of price unless prices are soaring. There always seems to be a pullback when that happens. More and more I'm reading about paper and physical price decoupling. Although I have not seen this in my area, more than a few buyers are reporting that they either cannot but PM's at current low prices (supply issues?), or premiums are quite a bit higher. I don't follow eBay prices but I read that PM's are selling for more per ounce than current paper price. Locally, I bought a bag of junk dimes Monday for 20.2 x face which was just below spot.
It is probably due to the holidays, but trading volume of paper PM's are extremely light. Many speculate that after the MF Global fiasco there has been a tremendous loss of faith in paper of all kinds.
Bill
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Permalink Reply by Gary on
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I just bought some 2012 silver eagles today!!!! Paid less than last years eagles!!
If the price drops another $1.40 tomorrow i will buy again!
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Permalink Reply by Clair Alan Hardesty on -
There are some wild prices on some of the AtB coins right now. I was just looking at APMEX and for PCGS MS69 DMPL First Strike coins, a set of 2011 coins is $1850 (with CC) but if you buy all 5 individually it is only $1400. For the 2010 set, it is also $1850 for the set of 5 but the individual coins would cost $2620. The same ten coins are as little as $3250 ($3155 if paid by check) or as much as $4470, a $1220 difference. Bizzare! PCGS puts the current retail at $6600 for all ten coins. That $325 average for PCGS MS69 DMPL First Strike coins looks pretty attractive. Of course, the mint dropped the price of the uncirculated coins to only $204.95 today, so those look pretty good too.
I have to agree with Gary, buy some now and if the price stabilizes or drops buy more. I think that today's prices are below where they want to be in the long term view and as long as you are able to put the metal away for the long haul you will remember this as a great time to buy, whatever day(s) you strike.
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Permalink Reply by Bruce Wiseley on -
Gainsville has 2012 rolls of ASE's for $619.00 (pre-sale). Not too bad. Might have to spring for a roll. Is that a good price Boys?
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Permalink Reply by abe pickens on -
If you are looking at PM's as an investment, I believe you should be very cautious. The U.S. government along with the Federal Reserve is actively engaged in manipulating the PM market. With the current administration, wherein the Constitution be dammed, there is just no telling what they might do to pay off Obama -Care.
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Permalink Reply by Gary on
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I wish they would manipulate silver back down to $9.00 an ounce!!!
Bruce..thats seems to be a fair price!! Wish they wouldnt charge $20 for shipping though!!
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Permalink Reply by Buffalo on -
If you don't care about the year, Provident Metals has 2011 ASE for $30.52 "cash price" each for quantities from 20-99. Double check it, but I think the shipping would be $8.95 for a roll.
I still think gold will go a little lower, below $1500, and silver will probably drop also. I also still think the Fed will step in with new QE by Feb-Mar, and prices will jump when they do.
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Permalink Reply by Dave on
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When APMEX sells the PCGS graded 5 oz ATBs, they ship them in clear plastic bags. Do you guys take them out of the bags when you store them, or leave them bagged as an extra layer of protection? Some plastics don't get along well with coins, but here it's just plastic on plastic.
BTW - APMEX currently has the Glaciers in PCGS MS-69 DMPL FS for only $157.65. That's a lower per oz price then if buying 20 ASEs. I imagine that "IRS" pricing will end tonight.
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