What's the definition of "cheap" silver?

SpacePete

SpacePete

Well-Known Member
Silver Stacker
Most of us like cheap silver, but how do you define cheap?

* Relative to current spot?
* Relative to the price last week?
* By some measure of intrinsic value?
* Relative to some predicted or modeled future price?
* Based on all-in production cost?
* Relative to the risk of holding alternative assets?
* ?
 
When both parties, the seller and buyer, are happy after negotiating an agreed price.
 
My definition of cheap silver is free or close it.
I buy according to current spot price and look to flip as soon as possible for profit to be turned into silver or free silver.
An example of this would be buying gold and silver jewelry (as i do each week) for $20 and quickly flip it for its true value.
Last Monday i paid $1 for an 18k bracelet at an opshop and went and swapped it at spot for 7 Large NZ silver dollars that i will turn around and sell for $27-$32 each depending on how the auctions go.
So turned $1 into $140 worth of silver and will turn that into $170 odd that i will buy some silver with.
Or may keep the Penguins as free and sell the rest.
Takes work ,and as i conveniently do not charge for my own time TIS FREE SILVER.
 
Another one I just saw in a sales thread (thanks to Brashy):

* "Cheap" refers to the price offered ... compared to other recognized dealers selling price including the Perth Mint"

Which raises a good point.... "cheap" silver is meaningless if no one is offering any for sale and you can't actually take delivery of it.





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My definition of cheap is scrap silver at spot. A couple of times bought scrap jewellery here at spot.
 
Cheap is the lowest price that an item can be got for.

Not necessarily a low amount of money, face value for a $200 gold koala would be cheap but it still costs you $200.

Other than that, as close as possible to today's spot price. I never go back and think, "If I had waited a day to make that purchase I could have saved $x!" or "If only I had bought yesterday I would have saved $X." If I have money to spend on silver then I buy silver, if I haven't, then I don't. So if there is money burning a hole in my pocket I will either go for the cheapest version of a particular item I am after, or the cheapest possible silver, nasty .500 pre dec in bad condition usually.
 
cheap silver is when you walk into a bank and they have $30 face value of round 50's for you to take
 
serial said:
cheap silver is when you walk into a bank and they have $30 face value of round 50's for you to take
Click to expand...
I think you have the best description so far.
Very jealous of Aust and USA residents that can still go and do this coin hunting.
 
I'm with sterling-nz.

Purchase collectable silver sell it for profit use the profit to purchase generic silver and then take the original money and purchase more collectable silver and just repeat.
If you can purchase collectable silver for spot then and it has a collectable premium I would call this cheep as well.

But hey nothing is worth anything if no one wants it.... its only worth what you can sell it for...
 
When it's in a long term dip like it is now.

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yeh mate- none of the dummies here seem to appreciate that fact.
they always want it cheaper than it currently is, but fail to realise just how cheap it already is. :lol:

I guess they believe gold and silver will always be this cheap or cheaper! Shame - such ignorance displayed in a place like this is surprising to me.
 
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