I strongly believe silver is now below the 'all in' total cost of production. But before I buy more I'm going to wait for it to stop falling and see if it actually starts trending sideways or up for a few weeks. Otherwise it's like trying to catch a falling knife.
3 Ounces if I took physical, 4 if I used something like bullionvault at a dolar or two over spot. Theirs also the option of buying Silver via Goldmoney or Bullionvault (no vat) then selling and going into gold when GSR is good. But their just feels like a once in a lifetime opportunity to be had with silver.
You will get quite a few of those once in a lifetime opportunities with silver, I remember last time it dropped to $26-$27 after bobbing around in the low 30s for months we all got very excited by the cheap buying opportunity. For the sake of one oz, I would go for the physical, it is only a loss of four cups of coffee and you get to look after it yourself, no risk of a default or the silver not being available when you want it and there are no ongoing storage, insurance, redemption or other costs which will eat into any saving you make at the time of purchase. Plus holding your wealth in you hand is quite satisfying, if you get a coin it might go up in value if collectors want it, Britanias are expensive but collectible, but for you I would go with predecimal coinage, junk silver, 50% or if you get pre 1920 coins from the UK they are 92.5%. Chances are you won't pay any tax on them so you save another 20%.
I thought the same when silver had its pullback from $40, down to like low to mid 30's. And now look where we're at.
Hi SilverHunter, ..."With the recent lows, would now be a good time for someone who doesn't own any silver to get into it?"..... Don't try to catch a falling knife mate. Watch for signals..... Technical, Fundamental and Trend. Gold and Silver are clearly in a free fall now. We might see silver hitting $18 - $20 in the next days ahead. Eric Sprott sells big chunk of Silver Trust units this is days before this massive sell off mate. Don't be fool by emotions and traders that talk emotions.... you need to be sensible mate. Wait and watch. When the trend changes you still be able to take a nice position but and mostly importantly, a more certain position in the right direction. No point to try guessing the markets and buy like a casino/gamble.... better then you go to the casino. The Biggies are moving it to their strategy now... so the small should watch closely and be cautious. SIGH~~~~~~~~~ CME Hikes Gold, Silver Margins By 18.5% Shanghai Gold Exchange To Hike Gold, Silver Margins These 12 Banks Got the Fed Minutes a Day Early The banks included Fifth Third, Citigroup, UBS, Barclays, U.S. Bancorp, Goldman Sachs, Wells Fargo, HSBC, BNP Paribas, BB&T, JPMorgan Chase and PNC. and gold felt the most in 30 years the next day ? lol think again ...... WATCH and paper trade before enter mate. take care Trader10
By the way I don't think their are many more of this opportunities left. I believe this will be the last one or maybe one more at the most before the total economic collapse and death of the dollar. Then the people who have stacked silver/gold will be able to survive the hyper inflation and will make tremendous wealth.
Well, I can only imagine what speculators were talking in the 1980's..... from highs of $49's then say back to $40's imagine the emotional talk... then back down to $30's..got even more emotional speculators putting their cash in... then down to $20's , $10's and back down to $4.98 September 1979 to $49.45 an ounce in January 1980 based on London PM Fix. Silver prices reached a cyclical nadir of $4.98 in June 1982, 10% of the $48 peak just 30 months earlier http://www.silverinstitute.org/site/silver-price/silver-price-history/1979-1980/ http://www.silverinstitute.org/site/silver-price/silver-price-history/1981-1990/ In times when paper... any paper instrument are being shorten and major commodities like Oil and Gold are on sell off mode.... CASH is KING... always.... and Australia has a very significant currency at the moment..... OZ DOLLARS are KING at the moment.... There is no such thing as a chance of a lifetime.... lol that's anecdote talk IMHO. There is being cautious and sensible and being emotional and speculative. cheers Trader10
Nothing wrong with a 100g silver bar. Bars are cheaper than coins, not too familiar with 100g bars but looks to be around 3 troy oz so not a bad size at all. Easy to buy and sell, storage won't be a problem and you don't need to worry about the condition. It will all depend on how much it is going for of course. If you are going to go for .999 then providing the price is right a 100g silver bar should fit the bill.
Sprott sells silver? http://sprottphysicalbullion.com/sprott-physical-silver-trust/net-asset-value/ (In U.S. Dollars. Data last updated Monday, April 15, 2013 6:00 PM EST) His stock still sits at the 49,287,863 ounces it reached on 30/11/2012
Pirocco maybe it is time you took a breather. Take time to review your notes, collect your thoughts, and avoid investment schizophrenia. Let the other girls like mmm_whiney EXHIBIT at the Nether-nethertalk Ball. Have you no shame? For what do we live but to make sport for our neighbors and laugh at them in our turn. - Mr Bennet Sauce: rich
It's all good.... People just need to learn to read, research and get educated before jump in on conclusions and/or purchases... it's simple...and sensible... There are many articles on this: Especially if you search on Canadian papers... http://www.theglobeandmail.com/glob...-chunk-of-silver-trust-units/article11157109/ cheers Trader10
...."There is an enormous difference between 1980 and now. Keep trading in paper mate...".... So true Yippe-Ki-Ya..the 80's..... and history does not exactly repeats in the same way... but, there are so many similarities in so many ways I can tell you.... 1700's 1800's 1930's 1980's ........ now...... Let's just say, it's a more modern economy and the "Banks and "Dynasty families" use it to transfer wealth, create and move trends... Nothing much has changed on our little planet Earth mate... Yes, I'm getting good at the paper trade... and can sleep beautifully at night..... I still hold my core of PM's don't get me wrong.... but, My CASH IS KING right now and when it's time, I will be using the FIAT currency to purchase more pm's...... nice cheers Trader10
100gram bars are 3.5OZ of silver. Or there is the option of buying a Gold 1/20oz 2012 Maple, but that probably would not be worth it.
3.215 troy ounces not 3.5 - a coin or round is a troy ounce not an ounce, so you compare prices based on 3.215. If you want a gold maple go for it or get 3 or 4 silver maples or some bison perhaps?? Jump in the water it ain't cold you know you want too
That's what is on Sprott's silver page. http://sprottphysicalsilvertrust.com/NetAssetValue.aspx 2012/09/12 39,882,286 2012/09/14 40,187,293 2012/09/21 40,472,293 2012/09/25 40,472,902 2012/11/09 46,414,902 2012/11/13 47,815,112 2012/11/14 47,815,756 2012/11/14 47,815,117 2012/11/16 47,911,117 2012/11/16 48,111,436 2012/11/20 48,111,615 2012/11/24 48,552,655 2012/11/26 48,552,693 2012/11/27 48,552,699 2012/11/28 49,287,438 2012/11/30 49,287,863 2013/04/16 49,287,870 Sprott's stock changed today. 7 ounces more. Maybe some stock correction. For the rest, a yawn, since nothing changed.
