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 Replies: 8 / Views: 1,103 |
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Valued Member
United States
466 Posts |
with silver dropping I was wondering if now was the time to buy low with the hopes of selling high in the near future. I usually don't do this kind of thing, but if I can buy a nice sized lot, fill a handful of holes in my albums and then resell and make a little cash it would be a great way to fill my albums on my tight budget. The question is how long will I have to wait to get my money back. Any ideas. I would be looking to spend around a grand on silver coins.
thanks for the help
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Pillar of the Community
United States
564 Posts |
It's your call.... I just picked up a huge amount of silver. I think the price will go back up but I have no idea when.
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Pillar of the Community
United States
1490 Posts |
I am buying this recent dip in price. I plan to hold for the long term as I view precious metals as insurance against a continually debasing currency.
I believe the price of silver will start to rise again soon.
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Pillar of the Community
United States
787 Posts |
From a technical viewpoint, I do think the price will go lower than it currently is. I am now thinking $22.50 to $23.00 per ounce is a feasible possibility within the next month.
As for as the long term lookout, well, that is a complete gamble in my opinion. If the dollar does continue to go down, I think the price of silver will rise accordingly. On the other side of the table, if traders think that global demand will be less then
the price will likely go down and stay down for some time.
Personally, I was really thinking about buying with $30 being a possible. Now, with a bit more research, I do think I will hold for lower prices.
Kenscott
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Bedrock of the Community
United States
20753 Posts |
You do realize that if anyone knew the amswer to that, there would be a buying or selling run on whatever you want to know about. For instance if someone here knew that Silver was going to hit a thousand/ounce and told everyone, there would be a mad dash for Silver. My advise is to just buy anything you like regardless of present prices or possible future ones. Life is just to short to worry about the future prices of Silver or Gold. However, I'm on my way out to places right now to buy up all the Silver possible.  |
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Valued Member
 United States
466 Posts |
obviously no one knows what is ever going to happen in the future, I just figured I would see what other people's thoughts were on the subject. I figured I would try this maybe and see if I can make it work out for me. I could care a less if I made money. If I got a bag of coins and pulled a handful that I needed and then resold the bag for the same price with the same amount of silver (I would replace the stuff I needed with extra silver I have found) I would be thrilled. Tomorrow I shall see what I can see.
Also is it wrong to ask a dealer to go down on his prices from last months silver melt values. For instance a dealer I know has a piece of paper at the start of each album saying he won't sell any of the silver dimes for less then 3 dollars due to the high silver prices and so on for each denomination even though the coins are priced at around 2 dollars for average circulated coins. If that is still in the binder is it wrong to ask him to go lower on prices of average coins because melt has dropped? I don't want the dealers to hate me because I am bothering them. I am by no means a big spender, and don't want to cause any problems because I am only buying a few coins for my albums at low prices.
Edited by googoo
10/01/2011 10:51 pm
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Pillar of the Community
United States
1213 Posts |
I got some and hope to get some more before it goes back up, whenever that happens.
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Pillar of the Community
United States
968 Posts |
googoo,
Does the dealer you are talking about buy gold and silver? If so, I bet anything he is buying low grade silver coins and bullion based on current melt value. If he's doing that then you should see if he'll give a discount! I'm also curious if silver prices go up if he will stick to his once a month pricing scheme when it is not in his favor.
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Bedrock of the Community
United States
20753 Posts |
Quote:
I don't want the dealers to hate me because I am bothering them. I am by no means a big spender, and don't want to cause any problems because I am only buying a few coins for my albums at low prices.
Don't worry about hurting the feelings of a dealer for asking about coin prices. Remember people do that in all kinds of buisnesses. For example at a used car lot. Probably 90% of the people try to haggle down the price of a car. Haggling of prices goes on at gun shows, knife shows, computer shows, etc. all the time. Most dealers expect you to haggle and or chew them down on prices and usually have increased the sale prices on items for that reason anyway. There used to be a street in Chicago called Maxwell Street. For several blocks on that street all the stores and sidewalk stands were based on people asking one price and being haggled down to something else. So never be afraid to ask what is your lowest price to any coin dealer since he very possibly raised his prices for just that reason. |
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Replies: 8 / Views: 1,103 |
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Posted 10/01/2011 10:38 am
