Ok.. $28.61 at the moment... And this was a "back up the truck" number for a lot of people when it was $40 ... but not anymore I Think the "back up the truck" number is a moving figure that is always 25% below the spot price or so... Anybody thinking of doing a big purchase if its hits $25? ... $23?
25 and i'll start pestering hubby to add to the (meaning my) stack, I wouldn't say we'd be backing up the truck. We'r small fry so maybe the wheelbarrow would surfice.
A wheelbarrow full of silver would suit me just fine Silver is at a nice spot price now. $25 for a one ounce Kooka would see me with a very grin on my dial
At $25, then will get another $5000 of silver (with perhaps 1 oz of gold) from Perth Mint. $5000 because that is the minimum buy for the PMDS. Whether or not to get more is dependent upon everything else that is going on at the time, and one's gut feeling as to whether the real bottom is in. Marc Faber's advice on portfolio allocation is nice and simple, so we can all follow it. He says, 25% in real estate, 25% in precious metals, 25% in stocks, and 25% in cash. He advises that when there is a market crash, that you use the 25% cash for topping up BOTH your metals and stocks. I'm also in the wheelbarrow club
If it got 25 or below and i could actually buy silver at those prices, i wouldn't have any savings left and a very full hidey hole!
Reeve makes a good point, does it matter if Spot hits $25 or $23 what will it actually sell for around the traps & what will the dealers be selling at that price if anything. What items have people chosen to go for when it hits their magic "back the truck up" number or will it be just a mad scramble to buy anything that is available at the time.
$26 - But we all know noone'll be selling - relative premiums just go up I'll be melting 400oz's into 1kg's as soon as pos breaches that - if I can still access 'em.
abcbullion take orders at the immediate spot price (plus markup of course) .. online at any time... So as long as you dont mind waiting after you have placed the order... shouldnt be a problem. There must be a few other online dealers that do as well?
The only truck I'll be backing up in is this one : Unless of course it drops to < $10 then yeah I'll be dumping 90% of my income into silver lol.
At US $25 per Oz is my see you later price, much more so than backing up the truck to buy! If prices drop below US $25 this means all bets are off in this market, call it a bubble that burst, etf manipulation, cashing in to pay calls, whatever way too volatile one would assume. Everyone else will do the same around this price knowing that to hang in just creates an opportunity cost. Cheers Alfie
Grabbing the John Deer and filling the loader after xmas,might take all year! For me personally it is not the now,its 20-30 years from now. No matter what happens, no matter what the dollar is worth, no matter what new currencies are introduced,no matter how much they manipulate the economy, no matter how much money they print, your stack will remain,unchanged as precious metals. While the powers that be may manipulate the price, they cannot print Gold or silver. In the end,no matter what currencies are introduced, YOU WIN, you own precious metals. Further More (silver hat on) I see this price drop as a way of getting a lot of metal on the market, who is going to buy up big??? Really big ?? Shake the market and pick up what drops off, I bet from now over the next few weeks some of the major players acquire like no tomorrow, then bang back at $32-33. Back up the truck now even if its a matchbox one.
I've been holding off on buying anything major, as I think there's one more serious dip coming before the trend swings upwards. I'm thinking around $25, but low 20s would be great.
$5 would be nice otherwise I am like some others, backing up a Tonka truck. I just keep buying regularly regardless of the price, good dollar cost average and not trying to make a profit this week. Not storing cash waiting for a possible fall to some predetermined price. Keep buying and quite happy to sit on it for the next 10 - 20yrs if needed
I guess it'd be wise to "back up the truck" for a commodity if we can find prices of the commodity near or roundabout the cost of production. I did a bit of research online this morning to find out the 'cost of producing silver', and got this page which contained some well thought-out data:- http://silvergoldsilver.blogspot.com/2011/07/guest-post-complete-cost-of-mining.html In summary, according to this, the total cost of producing silver averages at around $16~$17 per oz. You know it would make total business sense to 'back-up the truck ', heck even 'go all in', if the price of silver goes near this cost.
