When silver was $40 and people would snap up 10oz bars for $450 in hours. Now $2 over spot sits for ages haha.
Or when folk wouldn't touch 1oz, 2oz, 5oz and 10oz series 2 Lunar mice and...now look at them! Ingots vs Coins. Diversity is your friend.
My first buy was a roll of 1oz mice for about $30 each when silver was at around $28 when silver was going up. I doubt I would make a loss even though spot has dropped 25%
Feel it is definitely a buyer's market now, with lots of deals in the US going for spot (or even below spot with rebates/cashback).
That's typical investor psychology. The masses generally won't buy an investment unless the price is rising and said investment is already in great demand. This might be a good tactic for short term technical trading but not for long term holdings. Usually by the time those $40 type buyers jump in, the end is in sight because the smarter $$$ got in at lower levels. Kind of like the dot.com stock bubble in the US. I am seeing amazing cool foreign silver coins coming into the local shop and I am getting it cheap (I wish I had more $$$ to spend). Some folks are selling off their collections I guess because they assume silver is going to zero. Right now generic silver is available for about $1 over spot and as you say, it just sits there in the display case. Just for fun I called a smaller local dealer who sort of specializes in foreign stuff, to see what he would pay me for a dozen or so 2011 silver pandas graded MS69 by NGC and he only offered $10 over spot per coin (I thought I could get a decent amount and put it into cheaper silver for more ounces). I told him that was way too low and he said "nobody wants that stuff now". I figure he means locally which is probably true, but that stuff ebays for a lot more than $10 over spot. If we ever get to $30+ silver again, I predict many of those poo-pooing silver now will jump in their cars and go to buy so as not to "miss the boat". These same folks tend to be the loudest critics of PM's in general later on because they wound up selling at a loss because they bought too high and too late. Some old-timers who got hosed in the early 80's are still around complaining about how they had to hold their PM's for 30 years to break even, etc, which I suppose is technically true. Just my opinion. Jim
