Anybody buy today?

J

Jim4silver

Well-Known Member
I couldn't resist and bought a couple of 10 oz Silvertowne bars with the miner and donkey still in plastic. Got them for $150 each. Also got a 1990 Kook BU (not original mint holder) for $19. I would have liked it more in the square holder.


Jim
 
I'm very tempted.
But so far, expressed in euro's, it would be a same price as my last purchase a year ago.
And I'm after again cheaper.
Seen on the decades chart, silvers price is still high. $10 should have a chance in the next crisis. I see some reasons for such crisis early next year. Over 1-3 months. I decided to risk holding off now to get more ounces then. Stock markets sit on decade highs. A "hard prices drop" alike in 2008? Gonna need to act quickly because I'll surely won't be alone trying to get the cheapounces.
 
Aussies had a chance during Nov 2014 while the AUD was high...now we have to wait! :(

Waiting is good! :cool: :D
 
Premiums have not changed downward enough with spot price to just rush out and buy more than normal.
 
fishtaco said:
Premiums have not changed downward enough with spot price to just rush out and buy more than normal.
Click to expand...


Premiums on bullion either stay the same or go up when price drops for silver, at least here in the US. Maybe it is different in other places. Just as an example, premiums are $3 on ASEs, when the price was $10 or the price was $30. Only higher when there is a temporary shortage.

Premiums on semi numi stuff goes UP when the price drops. That's why some of my stash is worth more now at lower silver prices than when I bought it. :D

Waiting for lower prices and lower premiums? Good luck with that one.

Jim
 
Jim4silver said:
fishtaco said:
Premiums have not changed downward enough with spot price to just rush out and buy more than normal.
Click to expand...


Premiums on bullion either stay the same or go up when price drops for silver, at least here in the US. Maybe it is different in other places. Just as an example, premiums are $3 on ASEs, when the price was $10 or the price was $30. Only higher when there is a temporary shortage.

Premiums on semi numi stuff goes UP when the price drops. That's why some of my stash is worth more now at lower silver prices than when I bought it. :D

Waiting for lower prices and lower premiums? Good luck with that one.

Jim
Click to expand...
It will come Jim.
Just do not be in to much of a hurry.
I have been watching and reading some great stories from preppers getting ready for "the big one" some of them are modern and some have been prepping since the 1950's.
The same stories in the 1950's are the stories modern day preppers are relying on.
If the folks here want a really good chance at making or saving money for the next 8 years BUY COFFEE in all its forms, even packets of instant.
Still love metals but they are for the distant future and i am lucky that they cost me next to nothing, as i conveniently do not factor in my time.
 
sterling-nz said:
Jim4silver said:
fishtaco said:
Premiums have not changed downward enough with spot price to just rush out and buy more than normal.
Click to expand...


Premiums on bullion either stay the same or go up when price drops for silver, at least here in the US. Maybe it is different in other places. Just as an example, premiums are $3 on ASEs, when the price was $10 or the price was $30. Only higher when there is a temporary shortage.

Premiums on semi numi stuff goes UP when the price drops. That's why some of my stash is worth more now at lower silver prices than when I bought it. :D

Waiting for lower prices and lower premiums? Good luck with that one.

Jim
Click to expand...
It will come Jim.
Just do not be in to much of a hurry.
I have been watching and reading some great stories from preppers getting ready for "the big one" some of them are modern and some have been prepping since the 1950's.
The same stories in the 1950's are the stories modern day preppers are relying on.
If the folks here want a really good chance at making or saving money for the next 8 years BUY COFFEE in all its forms, even packets of instant.
Still love metals but they are for the distant future and i am lucky that they cost me next to nothing, as i conveniently do not factor in my time.
Click to expand...


Sterling NZ,

For the most part, the "premium" is built from fabrication costs to the "cut" each middleman gets from the refiner to the retail store. For the most part, the cost to produce the bar or coin is completely independent from the cost of the silver. So yes, the price can fall to $10 based on lack of demand or excess supply (or manipulation :lol:), but that doesn't mean the cost to make that coin is any lower nor will the cut each middleman gets be reduced. The US Mint charges $2 premiums per ASE to the large wholesalers. That is not going to be reduced. Nor will the profit each middleman expects from his involvement in the movement of the coins.

When I started buying silver in the mid 2000's the premiums on ASEs were exactly where they are now- $3 over spot. Why will that change if/when the price falls? The US Mint is not going to cut their fee per coin to the wholesalers, and the wholesalers won't move the metal for free.

So why does anyone think premiums will fall? Am I missing something.

Jim
 
I was talking middle man premium! not manufacture premium. price drops middleman premium goes up same as it does for semi numi,s


Nobody is going to sell their silver inventory at a loss even generic silver just because silver price takes a dive, unless they really have to sell at some stage they just put the premium up.
 
Just bought an academy 10 oz hand pour bar.

Even though I paid $20au or so more for this bar than some other bars cost at present like say a perth mint 10 ozer the low spot higher premium gives me as a small time stacker non flipper a chance to buy silver I fancy on SS that would normally get buzzed before I get a look in.

Not much for sale along with buyer/seller jitters over spot price falling has its upside to some and paying a bit more now on a low and falling spot price does not affect my long term cost price average. :)
 
Jim4silver said:
sterling-nz said:
Jim4silver said:
Premiums on bullion either stay the same or go up when price drops for silver, at least here in the US. Maybe it is different in other places. Just as an example, premiums are $3 on ASEs, when the price was $10 or the price was $30. Only higher when there is a temporary shortage.

Premiums on semi numi stuff goes UP when the price drops. That's why some of my stash is worth more now at lower silver prices than when I bought it. :D

Waiting for lower prices and lower premiums? Good luck with that one.

Jim
Click to expand...
It will come Jim.
Just do not be in to much of a hurry.
I have been watching and reading some great stories from preppers getting ready for "the big one" some of them are modern and some have been prepping since the 1950's.
The same stories in the 1950's are the stories modern day preppers are relying on.
If the folks here want a really good chance at making or saving money for the next 8 years BUY COFFEE in all its forms, even packets of instant.
Still love metals but they are for the distant future and i am lucky that they cost me next to nothing, as i conveniently do not factor in my time.
Click to expand...


Sterling NZ,

For the most part, the "premium" is built from fabrication costs to the "cut" each middleman gets from the refiner to the retail store. For the most part, the cost to produce the bar or coin is completely independent from the cost of the silver. So yes, the price can fall to $10 based on lack of demand or excess supply (or manipulation :lol:), but that doesn't mean the cost to make that coin is any lower nor will the cut each middleman gets be reduced. The US Mint charges $2 premiums per ASE to the large wholesalers. That is not going to be reduced. Nor will the profit each middleman expects from his involvement in the movement of the coins.

When I started buying silver in the mid 2000's the premiums on ASEs were exactly where they are now- $3 over spot. Why will that change if/when the price falls? The US Mint is not going to cut their fee per coin to the wholesalers, and the wholesalers won't move the metal for free.

So why does anyone think premiums will fall? Am I missing something.

Jim
Click to expand...
Sorry mate i was not very clear.
Yes the premium has to be a certain amount to cover costs.
What i was getting at was this increased premium when spot moves down in a hurry.
We have all heard what people say when the prices drop substantially, "good luck buying it for that " they will say.
If we take your $3 premium as a starting point and spot drops to $10, for a while the premium may well be $6 or $7 , but the longer the price stays down the closer we will get to that original $3 (give or take for inflation.
Is that any clearer ?
Between fabrication and profit margin there clearly has to be a premium:)
 
sterling-nz said:
Jim4silver said:
sterling-nz said:
It will come Jim.
Just do not be in to much of a hurry.
I have been watching and reading some great stories from preppers getting ready for "the big one" some of them are modern and some have been prepping since the 1950's.
The same stories in the 1950's are the stories modern day preppers are relying on.
If the folks here want a really good chance at making or saving money for the next 8 years BUY COFFEE in all its forms, even packets of instant.
Still love metals but they are for the distant future and i am lucky that they cost me next to nothing, as i conveniently do not factor in my time.
Click to expand...


Sterling NZ,

For the most part, the "premium" is built from fabrication costs to the "cut" each middleman gets from the refiner to the retail store. For the most part, the cost to produce the bar or coin is completely independent from the cost of the silver. So yes, the price can fall to $10 based on lack of demand or excess supply (or manipulation :lol:), but that doesn't mean the cost to make that coin is any lower nor will the cut each middleman gets be reduced. The US Mint charges $2 premiums per ASE to the large wholesalers. That is not going to be reduced. Nor will the profit each middleman expects from his involvement in the movement of the coins.

When I started buying silver in the mid 2000's the premiums on ASEs were exactly where they are now- $3 over spot. Why will that change if/when the price falls? The US Mint is not going to cut their fee per coin to the wholesalers, and the wholesalers won't move the metal for free.

So why does anyone think premiums will fall? Am I missing something.

Jim
Click to expand...
Sorry mate i was not very clear.
Yes the premium has to be a certain amount to cover costs.
What i was getting at was this increased premium when spot moves down in a hurry.
We have all heard what people say when the prices drop substantially, "good luck buying it for that " they will say.
If we take your $3 premium as a starting point and spot drops to $10, for a while the premium may well be $6 or $7 , but the longer the price stays down the closer we will get to that original $3 (give or take for inflation.
Is that any clearer ?
Between fabrication and profit margin there clearly has to be a premium:)
Click to expand...


I understand what you mean now. I won't argue with that. Sentiment is so low I would be surprised if we see crazy high premiums again if/when price drops. Unless silver gets to $10 or lower, I can see the same premiums we have now, which are back to "normal" in my area and the stores are fully stocked with inventory.

When I was at a local store last week, one of the employees told me he is not really seeing extra buying from the average joe so to speak, but said he is seeing increased buying from "wealthier" types who said their financial planner (or whatever they are called) told them to sell some other stuff and put a little into PMs. He said one guy ordered 15 US ASE monster boxes to pick up from the store, and they guy had never bought silver before. He said there has been similar buying in gold as well (large orders relative to what average customers buy), but not an increase from guys like me (silver/gold bugs- we are all probably out of dry powder or waiting for lower prices :P)

Jim
 
15 monster boxes is a good investment if you can afford to wait for the next ramp up in prices.
120K or so now can turn into 500k+ down the road.
Now even with inflation that is going to be a good investment.
We are not being to greedy here and are looking for $25USD an ozt to sell into and reap some mighty nice returns.
If it hits the $25 in the next few years we will just hold.
I know it is a gamble ,but in our ideal world we will be selling for $25 in 20 years, any more than that is a bonus and any less ????????? Well it was nice to play with:)
 
sterling-nz said:
15 monster boxes is a good investment if you can afford to wait for the next ramp up in prices.
120K or so now can turn into 500k+ down the road.
Click to expand...

Who says that's going to happen?
 
sterling-nz said:
Court Jester said:
<----------SIDEWAYS------------------->
Click to expand...
Not in % terms.
From here we shall see a 20% drop over the next few months.
Thats a down
Click to expand...

maybe are u talking in NZ dollars, AUD or USD.

If it is the first 2 probably not.
 
SilverDJ said:
sterling-nz said:
15 monster boxes is a good investment if you can afford to wait for the next ramp up in prices.
120K or so now can turn into 500k+ down the road.
Click to expand...

Who says that's going to happen?
Click to expand...
I do and anyone else that has followed metals.
As long as you can sit on it for 10,20,30 years then no problem.
Mind you i can afford to make a 100k blunder and still survive comfortably and i know many can not.
Our later years are going to be just fine if silver does not pan out for us.
 
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