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Old 09-24-2011, 03:12 AM
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Sundsvall Sundsvall is offline
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Originally Posted by Scruggs View Post
Good advice Sundsvall. It's funny how many swear that they were going to buy on the next dip. In my experience in the trade, they seldom do because they are always waiting for it to fall "just a bit more". Then they ride it down and watch it go back up with no action on their part other than great regret.

I asked a couple of them why and it is the herd mentality. When it goes down it looks less attractive. When it goes up the fever hits. People need to think long term but most do not.
If Bloomingdales offered an across the boards 30% discount tomorrow, it would sell out.

Its only in stocks and commodities that people buy on the way up and sell on the way down.

The psychology of fear.

This is why the PM dealers are so successful. They have plenty of silver and gold to buy when the price is falling, and they can choose not to sell any at the low price.

When prices are rising, they pay below spot when they buy and sell at spot with a premium.

Its all because the average consumer can't take risks, so they end up always taking all the risk.

The government is still debasing the monetary supply. There still isn't any job growth. And the government is still spending $1.5 trillion plus dollars on wars with no tangible monetary return on investment.

This means that the fundamentals of precious metals are intact. So this 30% paper market destruction is a buying opportunity.

That said, I think that Wheat, Corn and Rice crops of the past year are horrible, so there will be global shortages.

Stock up on food items first! The guys here with 1000 lbs of flour and 1000 lbs of rice don't really have to worry. Its the rest of us that need to prioritize.
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Old 09-24-2011, 02:13 PM
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So I bought total of 40 (had 15) ounces last week for an average of 42 per ounce (total cost) Planning on buying 40 more this week, should I buy today or wait.

My biggest thing is will silver be over 75 in 2 years. Once I get a total of 200 ounces they are going into my safe deposit box in the bank of the desert so I won't even touch them until the summer of 2013.
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Old 09-24-2011, 02:40 PM
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Originally Posted by swen_in_ca View Post
So I bought total of 40 (had 15) ounces last week for an average of 42 per ounce (total cost) Planning on buying 40 more this week, should I buy today or wait.

My biggest thing is will silver be over 75 in 2 years. Once I get a total of 200 ounces they are going into my safe deposit box in the bank of the desert so I won't even touch them until the summer of 2013.
How can you be so sure it will be $75 in 2 years? The consensus in early April was that silver would be $75 by July. If I've learned anything in my nearly 70 years, it is not to count your chickens before they hatch, especially with investments.
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Old 09-24-2011, 03:07 PM
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How can you be so sure it will be $75 in 2 years? The consensus in early April was that silver would be $75 by July. If I've learned anything in my nearly 70 years, it is not to count your chickens before they hatch, especially with investments.
I think the person you were responding to was asking a question - not making a statement.
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Old 09-24-2011, 03:12 PM
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I think the person you were responding to was asking a question - not making a statement.
You're quite right. However, there are a lot of folks counting on the price of silver to be in the $100s, or even $1000s in the near future.
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Old 09-24-2011, 03:29 PM
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You're quite right. However, there are a lot of folks counting on the price of silver to be in the $100s, or even $1000s in the near future.
Have not seen too many of those folks here on these boards - if fact I can't think of one person on this board counting on the POS being in the $1000's.

There may be some, myself included, who believe that silver will eventually reach triple figures - but I am certainly not relying on that to happen. As it relates to this thread I think this is a great buying opportunity - that is not to say that the price will not drop even further on Monday, but speaking for myself $30 is a deal. Others may disagree - time will tell who was right.
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Old 09-24-2011, 03:41 PM
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Have not seen too many of those folks here on these boards - if fact I can't think of one person on this board counting on the POS being in the $1000's.

There may be some, myself included, who believe that silver will eventually reach triple figures - but I am certainly not relying on that to happen. As it relates to this thread I think this is a great buying opportunity - that is not to say that the price will not drop even further on Monday, but speaking for myself $30 is a deal. Others may disagree - time will tell who was right.
You're right, not vary many on this board. But you should look at the kitco silver forum.
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Old 09-24-2011, 03:43 PM
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Yes I am asking. Looking for someone who can show me evidence that there's no way it will be over 75. Yes, I took a loss the first week but I'm planning on cost averaging. Going to buy 40 to 50 depending on the price cut. Which will double down my holdings. I'm thinking before Monday in case it goes up then hold for my 100 oz purchase.

I'm not greedy 75 Is all that's needed anything more is just gravy.
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Old 09-24-2011, 03:45 PM
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And is it a sure bet that by summer of 2013 it will at least be 50. That way at least I'll get back what I paid plus a little more to go out and eat.
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Old 08-13-2019, 02:49 AM
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i am interesting in investing silver and gold!
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Old 08-13-2019, 03:02 AM
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if i invest in this s999 sterling silver teapot, does it fit?
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Old 08-13-2019, 11:57 AM
francessanne francessanne is offline
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Originally Posted by Captned View Post
Gold kinda scares me, LOL! I'm still on a silver budget too.....
lemme give you a little bit of advice if i can...find some gold jewelry that people are selling..either through a flea market or a garage sale...typically you can pick this up very very very cheaply...sell it for scrap and buy what you want or hang onto it sell it when you need to. i know about a half dozen people who do this every single week...it's out there!
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Old 08-13-2019, 11:59 AM
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8 year old thread
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Old 08-13-2019, 12:21 PM
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Originally Posted by swen_out_west View Post
So I bought total of 40 (had 15) ounces last week for an average of 42 per ounce (total cost) Planning on buying 40 more this week, should I buy today or wait.

My biggest thing is will silver be over 75 in 2 years. Once I get a total of 200 ounces they are going into my safe deposit box in the bank of the desert so I won't even touch them until the summer of 2013.
lemme give you a heads up...patriot act nonsense had every one of my banks telling me that i CANNOT retain coin collections in their safe deposit boxes.

having said that, my parents always told me that should they die, my first task is to go to the bank and clean out their safe deposit boxes...and call the funeral home afterwards. which i did. with a death certificate the bank will open the box IN SOMEONE'S PRESENCE to make sure that there is nothing in the box that taxes can be or should have paid taxes on...i believe that would include money.
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Old 08-13-2019, 01:15 PM
OldDesertrat OldDesertrat is offline
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I started poor-boy messing with silver bullion in 1966 or so, and then similarly in gold in 1973. "Vest pocket dealer" action. Small-time but steady and active.

My opinion is that the best way to plan for a PAW situation is to have US "junk" silver. Dimes, quarters and halves minted prior to 1965. It's the smallest premium above spot price.
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Old 08-13-2019, 06:10 PM
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Finding gold jewelry on on the cheap is a pipe dream. I’ve been in this game since the late 70’s and most over price their goods. Deals are far and few between.
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Old 08-13-2019, 06:20 PM
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Originally Posted by rainbowbabyup View Post
if i invest in this s999 sterling silver teapot, does it fit?
It doesn’t, unless you like paying more than 5 times spot.
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Old 08-13-2019, 09:55 PM
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Prior to the purchase, find a reliable dealer. Ebay is not a reliable dealer nor is the booth at the local swap meet. Paying a few extra dollars for the real stuff is far better that picking up stuff which is cheap plate or worse.
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Old 08-15-2019, 03:25 PM
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Originally Posted by goat daddy View Post
Prior to the purchase, find a reliable dealer. Ebay is not a reliable dealer nor is the booth at the local swap meet. Paying a few extra dollars for the real stuff is far better that picking up stuff which is cheap plate or worse.


All the big dealers sell on EBay and if you know how you can buy below spot. I prefer eBay just because I can use a credit card with no fee and I get 2% back not to mention the security of paying with a credit card, if I don’t get it I file a claim
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