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 Replies: 18 / Views: 3,577 |
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Pillar of the Community
Canada
1723 Posts |
@ Morbidsteve. I usually have the same problem where I dont have anywhere local to pick up silver without a $8 premium attached. You really do have to go online and get them at some of the bigger sites...at least you can get them for $2-$3 over spot and when you buy a larger amount like I will be... the shipping costs will only add a buck to your DCA.
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Pillar of the Community
United States
3670 Posts |
I was kind of mentally waitng on 31 even, but it looks like its on the move back up so better jump now. If not today, wait an see which way it goes to close out Friday. I expect Friday to be a slight recovery day, via $32.25 to close on silver, and $1675 or so on gold....
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Pillar of the Community
United States
4333 Posts |
My local dealer has had goodies lately for spot or less on 90%...he gets a lot in, he's a jeweler by trade and he doesn't sit on the silver. I've been buying below 35 lately and passed today on a bunch of worn Walkers, mercs, and quarters. I did buy an early $5 gold liberty with only $10 premium.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
834 Posts |
@samsnate,
Didnt you say your from Barrie? If so there are a ton of places that sell with very low spot, I dont know where your paying $8. But there are so many shops within a hour drive.
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Pillar of the Community
United States
619 Posts |
It's a great time to buy. In fact, I just bought some today. My local shop had some BU Englehard Prospectors, and they had no extra premium. I had to get some.
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Pillar of the Community
United States
3670 Posts |
CP24, silver prospectors with no premium is a no-brainer buy, good job....
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Valued Member
United States
76 Posts |
Got five ASE's today so I hope I bought low (and besides, that's all the bullion the lcs had at the time)! They do still have lots of 90% so I will go back and get some of that. |
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Pillar of the Community
United States
2168 Posts |
For a small amount like that yes I would buy but I am very lucky to have a very local dealer that sells for 3percent over spot no shipping cost so I think a good price.
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Pillar of the Community
Canada
1723 Posts |
@ swrbxxx There is no LCS in barrie that is sellion bullion. I have to go to the 400market and there is $8 over spot. As for driving to the GTA...I dont have much money so I can only buy a few OZ at a time. The cost of driving to GTA would drive my DCA up way too much....cheaper for me to buy online.
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Pillar of the Community
United States
1454 Posts |
Quote:
Will it be worth it to buy it now or should I wait for lower prices. Yes. |
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Pillar of the Community
United States
3184 Posts |
I say buy whenever you have the extra funds to spend
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Pillar of the Community
United States
4008 Posts |
I agree with MK. Buying silver in small amounts but fairly often is the best way to build a hoard. If you have some extra cash and a price dip comes along, then by all means buy the dip too. Waiting for "the best price" is probably the best way to not build your hoard, as you will always be waiting and not buying. It is virtually impossible to always buy when the price is the lowest, so get over that idea and move on building your hoard. Recent prices have been good for buyers. They might or might not be lower in 2-3 weeks but no one knows for sure.
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Pillar of the Community
United States
808 Posts |
Quote:
Will it be worth it to buy it now or should I wait for lower prices. I've found no useful way to "time" my silver purchases in this market. As a result, I'm less concerned about the daily spot price. Different strategies work for different people, but I try to make smaller purchases more frequently and regularly instead of one big purchase on a price dip. This keeps my DCA simple. It also discourages me from spending all my investment fiat at one time. Instead of price, I focus on finding the lowest commissions and shipping charges from dealers. Keep those two costs down and you'll be a consistently happy silver buyer no matter what craziness is going on in the market. |
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Pillar of the Community
United States
3670 Posts |
"Waiting for "the best price" is probably the best way to not build your hoard, as you will always be waiting and not buying."
Amen, I agree 1000%....
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Pillar of the Community
United States
4008 Posts |
Good plan, CW. That should work well to build a nice hoard over time and at a reasonable price too. Those who have been into collecting silver for a while understand that while price is important, it is not the primary concern. Holding ounces in our hot little hands IS the important aspect. If, one day, silver were to really take off in price for whatever reason, no one would be worried about what they paid for it. They would only care that they had some. It's like the long-time gold buyers. Do any of them care if they paid $35, $40, $50, or $100 per oz. for their bullion coins? Not any more.  |
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First Page
Posted 04/05/2012 4:42 pm
