Are You Buying?

Well, I've decided to forgo the ASEs and pick up a roll of 40 Silver BU Washington quarters and a roll of Silver Proof Washington quarters. Right now, though, the silver price seems to be trending back upwards. If it does dip below $30, at this rate it will likely be right after I step away from my computer...

Yes, and all of them have to do with the implosion of the European bond market and the as yet unknown effect that will have on both US banks and the US economy. The banks keep saying that their "net exposure" is only $40B or so. While this is technically true, what they are not saying is that they are involved in about $550B worth of credit default swaps and other derivatives. Their net position will not be realized IF the big European banks and bond houses collapse. In that event, the US banks would be on the hook for hundreds of billions of dollars and unable to get any money owed to them by these same banks and bond houses. Because of this, their net position may never be realized but the side of the ledger containing their losses might very well be FULLY realized.

Anyway, this looks a lot like a short term pull-back to me, so I bought some silver today when the price was at $31.50 per oz., according to the Kitco markets chart. I got 10 rolls of US 90% silver proof quarters and a $100 face value bag of BU Roosevelt dimes. This will add quite nicely to my bullion collection. No way to know if this is the bottom price or not but it seemed a good price to me. If silver dips even further, I can always buy a little more.

I also put some money into a physical platinum ETF, PPLT, that I have been watching recently. I got in at $158 per share, which is equal to 1/10th oz. of the current Pt price. I'm expecting to hold this for 2-3 years to see what can be made of this investment.

well I picked up a nice 1900 O XF Morgan for $26 and the 3 peice BU 40% bicentenial for $12 this is a little more than my average $20 bucks a week but I think they look nice this week it will back to the dimes or maybe halfs if the price stays low for the week end

Here we go again!

I will pick up some fractional gold and some silver in the morning. Asia/Europe is down slightly, another buying opportunity.

I just hope that's the end of it, and they patch up, make ends meet within the super committee or prepare to go further down.

I do the same thing but than even though sometimes it goes down a bit I figure the difference and not usually that much so I'm glad I have it for when the price goes up!

Exactly. Sometimes wait and wait for a certain $ amt and you could self defeat as well. My motive is to have some real money. At times when silver was in the low $40 price and the silver 2010 silver proofs were avail for 39 99 I bout those not junk so as to get some 'more valuable' silver at junk prices. Just to have same value silver along with the junk if all corrects an goes well. Which by the way I really don't see as of late.

I had some 90percent back from when I was small. I did purchase some halves junk for the same cost as any other junk so being less worn and basically 723 oz per 1000 face the pricing was using 715 so I got them. Then the proof quarters. The last little bit I got was quarters. All denominations I think is important. I have found some silver nickels roll searching as well at face!

Yes. That's why sometimes I will buy even in a downward trend and waiting for lower price just in case something like you say may happen! It seems at times we wait and wait and lose the dip so once we buy at a price and it dips a little more you can't worry or think about it just be secure in knowing you have the PM