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 Replies: 9 / Views: 2,112 |
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New Member
Canada
19 Posts |
Hey guys, back for another beating from my previous post: https://goccf.com/t/227820&SearchTerms=NewbieStill kicking myself for not buying silver when spot was $19.20(CAD) So I've been trying to find deals on ebay but all the silver is way above spot, I've learned a lot about silver investing in my precious post, so I'm just gonna invest in silver short term to have some fun flipping and have shiny things.. I digress.. I see generic silver like sunshine mint go way above spot ($5) for a 1oz bar, and I'm thinking why can't I do it? I mean I have to sell 4 1oz bars above spot for a free oz, that's like free money right? What am I missing? |
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Pillar of the Community
United States
946 Posts |
There is no money to be made on silver on ebay unless you get it for free. By the time you average out 15% of what the item sold for, you will be in the negative column. Your not the first to come up with this idea. When factoring in something on ebay say whatever I buy something for, I add 15% on top of it and that is the price I need to achieve just to break even when selling on ebay. A lot more to consider,unless like I said,you got it for free and just want to sell. In that case go for it. |
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New Member
 Canada
19 Posts |
I see.. I guess there were more factors to it than that.. I bought 4 airtight seals that hold 20oz each so I'm trying to buy 80 oz of silver for as cheap as possible and be done with silver as a short term goal and move into stocks and drips in July.. Junk silver is always over spot too :/
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Pillar of the Community
United States
7390 Posts |
I would just by 4 monster rolls of silver eagles from APMEX or mcm or the cheapest seller, year dosent matter, with at least 4 buy it now rolls... Get them all in one swoop for not much over spot, if you have the $ |
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New Member
Canada
19 Posts |
When you say monster rolls you don't mean the ones with 500 coins in them right..?
If you meant the tubes of 20. Yeah I can afford it. But I'm wanting to keep my $/oz at or under 20$.. Right now I own 30ounces and am sitting at 23$ an oz.. Haha:/
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New Member
Canada
19 Posts |
P.s when you guys buy silver what price point do you guys look for? How much % drop? I know I missed a pretty big dip a few weeks ago :/
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Pillar of the Community
United States
6130 Posts |
Silver is a multi-year investment choice. The best way to invest in silver is to work out the sort of return you'd like to see. Buy it when the price drops, and then hold it until it hits your target price, and sell. It could take 6 months, or 6 years. The market is in a downward trend and has been for 4 years now. It was a solid "get rich quick" opportunity in 2011. Not so in 2015.
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New Member
Canada
36 Posts |
Silver is still cheap its like 21.10 CAD now. I'm gonna buy my first ounce soon!  Edited by mehguy
05/25/2015 10:03 pm
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New Member
Canada
19 Posts |
You'd have to define cheap..$21.10 is more closer to the year high than it is low..
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New Member
Canada
19 Posts |
Also keep in mind you never buy silver at spot unfortunately
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Replies: 9 / Views: 2,112 |
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Posted 05/25/2015 1:14 pm
