Today's Flea Market Score - Franklin Half Dollars!

Very nice!

I have sold silver to people when it was in the $30.00's and they just would not buy any when it dropped down to the lower $20.00's which made no sense whatsoever. They and you should e buying as much as you can now so you can cost average the silver you bought at the higher levels.

Cost averaging is combining the totals paid at different levels divided by the number of units purchased. The result is a lower cost per unit.

10 Morgan dollars purchased at $35.00 each ($350.00) plus 10 Morgan dollars purchased at $30.00 each ($300.00) and 20 Morgan dollars purchased at $22.00 each ($440.00) equals 40 Morgan dollars with a total cost of $1090.00 which equals an average each of $27.50. The more you buy at the lower lever reduces the average that much more.

That is why you should always buy in a decreasing market so when it does turn around and go up you can sell at a price which is much lower than the highest price paid.

From a theoretical standpoint, Gyrene, I agree with what you say about cost averaging (and have even advocated it in the past). From a practical standpoint, however, I had simply gotten to a point where I had spent as much as (if not more than) I could justify on PMs, regardless of what the current prices were at. Both in terms of total amount spent and percentage of my total assets (not to mention the amount of space it was all taking up).

Regardless, while I'm no longer interested in "backing up the truck" and buying in bulk quantities anymore, I do still love numismatic silver and will continue to pick up a roll of Franklin half dollars here, a roll of Mercury dimes there, etc. Maybe one small purchase per month as long as prices stay low instead of trying to corner the entire silver market all at once...

And those who walk away from the table for awhile and then come back to the table for a lesser portion...

That depends on a few things things, such as how many accounts you have, the daily withdrawal limits, and of course those account balances.

ah, yes, those pesky account balances.

I vote no/oxi--I shouldn't be artificially limited to those pesky account balances.

Including the use of your legs when a thug from the Casino breaks them!