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 Replies: 25 / Views: 3,516 |
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Pillar of the Community
United States
2764 Posts |
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)....
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Pillar of the Community
United States
3789 Posts |
Hey Silverdollar-
I say YES! But only proof silver coins. For the time being, dont waste your time with anything that is BU, even if its Pandas which carry a higher premium and would be on my list if I was buying for my collection.
So, I suggest that you shop for some silver American eagle proofs for now. Maybe even look at some Aussie silver proof Roos
Much lower prices are coming, and even tho you are looking at only 3-4 oz, I would rather see you put your hard earned money into coins that carry a premium.
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Bedrock of the Community
13014 Posts |
Quote:
I say YES! But only proof silver coins. For the time being, dont waste your time with anything that is BU Uncircualted silver eagles carry close to the same premiums as the proof, not the bullion ones but the ones with the W mint mark. |
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Pillar of the Community
United States
3789 Posts |
@Baseball
yea the uncirculated ones from the US Mint would be a nice place to buy also, tho I believe the proofs carry less mintage than those but those two would be a good place to start.
I think "some" premium falls off these type coins as well, but it will be limited and I believe the first ones to be snatched up by knowing collectors before all the other BU stuff.... which in turn will help prices from falling hard.
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Bedrock of the Community
13014 Posts |
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
Edited by basebal21
04/12/2013 3:09 pm
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Valued Member
United States
432 Posts |
In this world of imaginary printing press money, everyone should have some silver.
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Pillar of the Community
United Kingdom
616 Posts |
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.
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Valued Member
United States
200 Posts |
I personally feel it is a good time to buy. Prices may still go down some more but I think we are near the bottom as far as silver is concerned. Trick is to buy as close to spot as possible.
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Pillar of the Community
United States
2168 Posts |
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
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Valued Member
United States
432 Posts |
I stopped in to my local shop today, the owner is still paying 21x face even with the sharp drop. He cant keep up with demand from buyers wanting mostly 90%.
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Replies: 25 / Views: 3,516 |
First Page
Posted 04/12/2013 2:48 pm
