Should I Buy Some Silver?

You have to do what you feel comfortable with. While PMs are a gamble, they will always have some value or worth, unlike a stock which can go belly up. I would just buy if you want to have silver, it is fairly low at the present time. I am lucky to get 'junk' silver still at my local shop in any face amt. They have raised the premium a little, but still a fair price. Let us know what you do!

Looking at the up n down oscillations over the past six months silver appears to be on a downward trend. Despite that and despite thinking silver may well fall much further, I still went ahead and bought now, because I feel there's great long term potential for it to go much higher. So tbh it won't even bother me too much if it does drop all the way down to $10.
Plus who knows what's around the corner, some things can override even the traders plans, like a major earth disaster event, or the flip side, a new discovery of the biggest gold and silver cores the worlds ever seen.

Use "average cost" approach if it's possible.

Set a buying-price entry point: for example: buy some when it fall below $35, $30, $28, $25.... etc that way your average cost over time will smooth out any major movement in price.

Usually the summer months are when PM price is lower (around March to September), so divide up your yearly buying quota and buy a little each month.

Get the most bang for your buck: Buy whenever you can get any bullion coins (ASE/SML) at spot price + $1.50 or less.

Finally, don't put all your money into just PM (either gold or silver or platinum, etc)....

Uncircualted silver eagles carry close to the same premiums as the proof, not the bullion ones but the ones with the W mint mark.

The W uncirculated actually have lower mintages than the proof for 2006-2008 at least. I cant find the numbers for the last couple years.

Both will suffer a price drop though I think their floor is around 20-30 dollars no matter how low silver goes.

I do agree though numismatic coins are a good way to shield yourself from pm drops

David
Had an interesting conversation with a friend over dinner the other night discussing Bitcoins and their validity. After about 30 minutes of that discussions and combining that with an understanding money and it's history and with certain PMs have been traditional sought after I came to some realizations that were quite interesting on the validity of Bitcoins, Fiat Currency and PMs that I would guess many would disagree with but I am convinced are indeed correct. Having said that I think believing "imaginary printing press money" is inherirantly flawed is dangerous, I am in most things a supply and demand guy so I need to understand what drivers demand and how supply is created for me to feel I have a grasp on things.

Just found out the premiums tripled just since last week at my local shop! And not much available. So it may be worth it to wait until the dust settles