Noob question: Where do all you guys do this buying of silver for just a couple of bucks over spot? Even BB which is considered a pretty good place to buy charges around $5.50 premium per oz over spot on coins. Is the only way of getting such low premiums to shop around in physical stores? (of which we have very few here in Canberra ... maybe I should take a trip to Sydney for a look some day).
If you want to avoid or minimise premiums you need to buy bars. $5.50 is the fabrication cost the Perth Mint charges to produce 1 ounce coins, so you are doing very well if you can get Perth Mint bullion coins for less than a $5.50 premium over spot through the mint or its distributors (in small quantities). You might pay less of a premium by buying/trading with other stackers and sometimes the Mint has specials. Of course, the greater the quantity you buy the less is the premium you pay. For example see here: http://www.perthmintbullion.com/au/Buy-Silver-Coins/1oz.aspx?size=18
Im just saying if your reasoning for buying / selling is due to a "feeling" then you may as well bet it all on black (statistically more lucky). Making the point that short term silver play is gambling.
Here's an interesting perspective from BrotherJohnF (who ever he is when at home?) who reckons if it doesn't bounce from US$31 it could fall toward the next support level at US$21. He argues that everyone will back up the trucks over the weekend and we will see it bounding up to US$37. But what if his conjecture proves wrong and most people hang back to see what happens, hopeful of buying in the $20's? [youtube]http://www.youtube.com/watch?v=cC81CeI-Y-U[/youtube] Source: http://www.silvergoldsilver.blogspot.com/ Actually, thinking about it a little, all the volume he was talking about through the drop to $31 could have left a lot of people with bleeding hands from catching the falling knife and make them very wary of loading up their boats any further. Food for thought...
Here, you can buy private mint 1 oz for 1.04-3.00 over spot. Westminster, Provident, Gainesville all sell for small premiums over spot. As far as Perth mint bullion, I would agree that what you're paying now from BB is an excellent value as those products are in high demand and appreciate in many cases above and beyond spot.
Gino, in response to your previous question, I think this $31-32 region is resistance. There will have to be some short squeeze profit taking on Monday IMO. After that bounce if it breaks below $31 I think it could decline sharply.
same. if keeping dip then 31--->28, keeping same for a while on 28, may rise a bit then drop again, hunt season! I like it
It's exactly what I'm thinking Lovey, currently tossing between buying and not buying, annoying! If only I had a freakin crystal ball that worked
My wild guess for next week. Bounce back on Monday, retreat to the lows on Tuesday for option expiry, up on Wednesday again, volatility on Thursday and we will get direction on Friday for the following week.
like I said last week, will dip to 28, then bounce off bit, then drop again to around 25-27, waitting one or two weeks, back to 31 edit:spelling
Perhaps. Perth Mint are taking orders, but they have a delay processing and confirming those orders of up to 4 hours I just got told. Wow, look at it climb! I'm getting a nose bleed!
Stupid question as I'm sure you all know the answer. I'm yet to purchase off bullion bourse. I can't find trading hours on the site. Can I purchase any time and lock in a price with them? Help would be appreciated. Sorry if it's off topic. Thanks in as advance Dan
