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Silver Eagles?

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stlspidey's Avatar
United States
80 Posts
 Posted 11/21/2013  8:48 pm Show Profile   Bookmark this topic Add stlspidey to your friends list Get a Link to this Message Number of Subscribers
Is now the time to buy?
With silver under $20 an ounce are BU specimens a good buy?

*** Moved by Staff to a more appropriate forum. ***

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zxcccxz's Avatar
Canada
5417 Posts
 Posted 11/21/2013  11:05 pm  Show Profile   Bookmark this reply Add zxcccxz to your friends list Get a Link to this Reply
Hmm.. personally I'd rather go for generic .999 silver rounds and scrap silver.
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Libertad's Avatar
Canada
3692 Posts
 Posted 11/21/2013  11:17 pm  Show Profile   Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
Are you buying for investment or for pleasure? It's hard to know anything with so little detail because my answer will not apply to your situation.

For pleasure: buy at any price
For investment: go with kilo bars or 10 ouncers (least premium for a good brand of silver would be NTR, Monarch...Actually I think Monarch goes for a bit more than NTR)

Me, if I find Eagles with a low premium (as opposed to waiting for the spot price to drop)...that's when I buy Eagles. For the longest time they were $27-30. It's like buying a car wherein you have to argue over the price of the car itself, not the monthly payments. So it is with silver you have to look for the lowest premiums because that's the retail profit. Timing your purchases isn't as important as shopping around, IMO.

More info, please? What are your goals, motivations, roadmaps?
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jbuck's Avatar
United States
188440 Posts
 Posted 11/22/2013  11:53 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Are you buying for investment or for pleasure?
Good question.

I moved this to the PM forum assuming the former. If the latter, I will move it to US Modern.
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 11/22/2013  2:19 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
It's always time to buy, but... As said above, pay attention to the premium over spot you're paying. That's one thing that counts a great deal.
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United States
3789 Posts
 Posted 11/22/2013  2:56 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
Right now at this moment, is not the time to buy anything.

I would say let the markets take action first, losing 20 on silver brings us anywhere from 20-15, level by level.

After a drop, tho, I would say go for those coins that have had, such as the eagles you refer too, as the drop in PM will bring down premiums.

But I would let the dust settle first to get the most bang for your buck.
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 11/22/2013  4:15 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
Silver spot spent June 21 through August 9 bouncing around close to $20, hit a bottom of around $18.90 and went back up to the low >$20 range. Now it's
spent November 12 through the present again bouncing around the $20ish range.

It can be argued whether or not now is a good time to buy anything, but some things are unarguable:
1--Nobody knows with certainty just what silver spot will do in the future.
2--Right now, silver spot is real close to as low as it's been since early 9/2010 but availability is still OK and premiums haven't yet spiked -- so far...
3--When silver spot bottomed out early in the second half of this year, vendors jacked premiums up royally and largely killed any "getting the most bang for
your buck" arising out of lowered spot. In addition to that, availability of ASEs and many other low-premium bullion items went MIA for some time.
4--As some old philosopher once said, "He who sits on the pot forever waiting to see what happens next will die of old age while sitting on the pot and waiting."

I dislike throwing out suggested courses of action, but I'll make an exception and throw out these two thoughts:
1--Don't make the mistake of presuming that premiums or availability will remain constant if/when silver spot takes a worse nosedive than it already has.
2--Don't run out and buy "because I'll never have a chance like this again" because the probability of that really being the case is zero.

So... the eternal "to buy or not to buy" quandary remains as strong as ever. Do your own thinking, make your own decision and make your own moves.
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basebal21's Avatar
13014 Posts
 Posted 11/22/2013  5:06 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Ill base my post on the assumption youre referring to the bullion eagles.

It really depends on why youre buying them. If youre just trying to get one of each date or do an album its not a big deal and now is fine to buy. They really arent a set you do hoping to make money on it during resale in the future.

If your talking massive purchases like monster boxes I would say no.


Quote:
When silver spot bottomed out early in the second half of this year, vendors jacked premiums up royally and largely killed any "getting the most bang for
your buck" arising out of lowered spot. In addition to that, availability of ASEs and many other low-premium bullion items went MIA for some time.


For a time, but it returned back to normal when it became clear it wasnt just the quick dip the sellers were hoping it was. There were still places where they kept their premiums normal, but at the time buyers acted like it would go back up soon and they could make a quick buck.

The more that happens the quicker things normalize the next time around as more people realize the difference between production shortage and actual shortage. Inventory was likely being held back too hoping for the price to recover.
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United States
3789 Posts
 Posted 11/22/2013  5:18 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
actually, the best time to be buying silver would be once it has confirmed it is out of a downtrend.

Until then, everyone who continues to buy silver and gold at these levels will find themselves finding out they could have bought more silver with more of their money than at current prices.

Trying to buy any asset as its falling is unwise, whether its 100 dollars or 100,000 dollars, doesn't matter how much or how little you put in, its a losing proposition
Pillar of the Community
United States
3789 Posts
 Posted 11/22/2013  5:22 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
BTW, Mr Stlspidey asks us is "NOW" (caps are mine, for emphasis) the time to buy. I say with full conviction, right now, is not the time to buy silver. Step back and let a flush happen first.
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stlspidey's Avatar
United States
80 Posts
 Posted 11/22/2013  6:27 pm  Show Profile   Bookmark this reply Add stlspidey to your friends list Get a Link to this Reply
I am buying for collecting reasons and not investment.
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United States
3789 Posts
 Posted 11/22/2013  9:51 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
Well shoot, if you arent doing it for investment and arent the kind of person who says "oh man I could have picked up more if I knew the price was going to drop" then I say buy some for your collection.

But I am with Mr BB, dont buy a huge box of them and if you are looking to plug in some holes in the collection, you'll be fine.
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Fat Freddy's Avatar
United States
1200 Posts
 Posted 11/22/2013  9:58 pm  Show Profile   Bookmark this reply Add Fat Freddy to your friends list Get a Link to this Reply
If you're collecting and not stacking in quantity, then presumably you'll be buying in small quantity. If that's the case, then there won't be a giant amount of
money gained or lost by buying before, exactly at or after the most perfect of all possible moments in time. If that's in turn also the case, then the potential
loss you'll be exposing yourself to won't be catastrophic, so you probably don't need to develop ulcers and high blood pressure worrying about it.

It's just my personal opinion, but... I don't think every hobbyist-level purchase of a couple ounces of low-premium bullion coins needs to be undertaken with
the same investment/trading mentality that it's necessary to use when investing many tens of thousands of dollars.

If I had to spend my time worrying about every possible loss as big as the price of a Big Mac, I'd get out of collecting PMs and take up crocheting doilies
before I had a fatal heart attack or stroke.
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bekiz's Avatar
Japan
666 Posts
 Posted 11/22/2013  10:36 pm  Show Profile   Bookmark this reply Add bekiz to your friends list Get a Link to this Reply
I'll tell you what is on my buy list:
2013 and 2014 pandas
2014 UK year of the horse coin, 1st in a series. Not the prettiest one, but I'm sure these coins will rise in value
Different Somalia elephants

Last three months sold about 150 oz of low premium bullion/numiz and replaced it with high premium ones at a rate 1:1. DOn't want to buy any generics, rounds, ASEs, and alike - these coins proved that they are not able to weather the storm.
Pillar of the Community
United States
3789 Posts
 Posted 11/22/2013  11:20 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
well... I agree with Fat Fred. I mean if you are collecting and its small and you dont care where you buy at and dont look at it as investment, now would not be a bad time.

Yet, I darn well know down the road better prices could and will be had. Shoot, who doesn't want to get more for their dollars.

Now, if I was looking at buying 1000 oz of eagles, I would hold off OR find a way to hedge them at least.

Dont get me wrong, I like eagles myself. Heck, I LIKE silver coins. Just I think you take your spots right now when you buy coins going forward.
Pillar of the Community
United States
3789 Posts
 Posted 11/22/2013  11:34 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
BTW... to me, Bekiz is one of the WISER coin guys on this forum.

This guy gets it, I like everything he said in this post in this thread. Follow him, he knows his stuff.
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