Gold and silver prices are down

Thanks for clarifying the neg comments...I trust what I hear here...I would like to start by purchasing 1 oz Silver Eagles and maybe 1/10th gold eagles. I' ve heard (here) that the mint is out of ASE's. Is this true? looks like you can get them online at the mint?

enbloc..I'd like to buy over time and Stack, Stack, Stack....how often do recommend to buy if i'm buying over time.

sorry for NOOB questions!
 
SquirtGun said:
Thanks for clarifying the neg comments...I trust what I hear here...I would like to start by purchasing 1 oz Silver Eagles and maybe 1/10th gold eagles. I' ve heard (here) that the mint is out of ASE's. Is this true? looks like you can get them online at the mint?

enbloc..I'd like to buy over time and Stack, Stack, Stack....how often do recommend to buy if i'm buying over time.

sorry for NOOB questions!
Click to expand...

The thing you need to pay attention to is the premiums the vendors charge. Premiums are the difference between the current spot price for silver and what the vendors chagre for a troy ounce if silver. Ordinarily that is around around$1.50 per ounce for silver eagles. Right now, the premium is over $2.50 and higher. Pay attention to the premiums man.
 
I must be looking in the wrong place...all the ase I look at is more than $4 over spot...


the_shootist said:
The thing you need to pay attention to is the premiums the vendors charge. Premiums are the difference between the current spot price for silver and what the vendors chagre for a troy ounce if silver. Ordinarily that is around around$1.50 per ounce for silver eagles. Right now, the premium is over $2.50 and higher. Pay attention to the premiums man.
Click to expand...
 
the_shootist said:
The thing you need to pay attention to is the premiums the vendors charge. Premiums are the difference between the current spot price for silver and what the vendors chagre for a troy ounce if silver. Ordinarily that is around around$1.50 per ounce for silver eagles. Right now, the premium is over $2.50 and higher. Pay attention to the premiums man.
Click to expand...

While the premiums are very important, what it really comes down to is how much you end up paying for what you get. You can make yourself crazy watching the premiums go up and the spot price come down, but what really matters in the end is how much you pay. If the price of, say, a Maple Leaf is down around $16, and that is the lowest you have ever seen it, then it's time to buy. The premium may come down, but if the spot price has gone up, does it really matter?
 
mclina said:
For the reasons I list above, I might be more inclined to just buy 32 of these over the 1 kilo bar:

http://www.jmbullion.com/1-oz-sunshine-buffalo-silver-round/

It would cost about $20 more but you'd have more options when it comes time to sell.

Or for about the same money, buy 30 Maple Leafs. You get a little less silver for the same money, but I think it's an even safer investment.


http://www.jmbullion.com/2015-canadian-silver-maple-leaf/

When you hold a Maple Leaf in your hand along side one of those generic buffaloes, you will appreciate why they cost a little more.
Click to expand...

I think this is a better deal on rounds, 20 for $325.

http://www.ebay.com/itm/SPECIAL-PRI...l-Tube-of-20/121711728928?hash=item1c56959920

I prefer coins though.
 
CoastieRon said:
Nah, I spoke to the rightful owner, I'm fed exting his coins in the AM. I'd hate myself if I gamed this.


Sent from my iPhone using Tapatalk
Click to expand...

So JM thought I shouldn't fed ex the guy his coins, so they sent me a UPS label and gave me a $15 coupon for being an honest customer. So I bought some ASEs......


Sent from my iPad using Tapatalk
 
Another MarketWatch article, this one on gold:

CHAPEL HILL, N.C. (MarketWatch) — Gold bugs, who have just begun to digest bullion’s more than $100 drop over the past month, need to prepare for the possibility of an even bigger decline.

That, at least, is the forecast of Claude Erb, a former commodities manager at fund manager TCW Group, and co-author (with Campbell Harvey, a Duke University finance professor) of a mid-2012 study that forecast a plunging gold price. They deserve to be listened to, therefore, since — unlike many latter-day converts to the bearish thesis — they forecast a long-term gold bear market when it was only just beginning...
Click to expand...

Full article here: investors-need-to-consider-that-gold-may-fall-to-350-an-ounce-2015-07-29
 
the_shootist said:
I've considered it and rejected it. I buy and hold...if it goes to $350/oz the last thing I'd do it sell at that price or in a falling market. Besides, the premiums and lack of availability will make obtaining gold any where near that price virtually impossible. It would just be a number at that point.
Click to expand...

Yeah, that article's claim that gold's true value is $825 may be valid, but the overshoot to $350 seems extremely unlikely - look at all the strong demand for physical gold while the digital demand is dropping. Gold is not like a stock - people will gobble up physical gold at $850 and below, since many have no plans on selling.

- - - Updated - - -

goodzilla said:
Story on MarketWatch on the bottom of silver and it's supposed prospects.

http://www.marketwatch.com/story/forget-whether-100-silver-is-possible-how-about-1000-2015-07-30
Click to expand...

I can believe it. I don't know a single person in my life (outside forums) who doesn't laugh if you suggest buying physical silver. People will catch on when it hits $100, and then it'll be too late.
 
That's not bad. I've paid higher. I think the last tube I bought I paid right around $360 so this isn't bad especially considering what some of them were asking for over spot. At $345 delivered that comes out to be $17.25 per ounce with spot right around $14.80 so that's $2.45 over spot.

ETA: Looks like when I posted the links silver must have been down a little as I just clicked the link and they are now up to $347 per tube. I thought the market had closed when I posted.
 
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For comparison, BullionExchanges gets $391.50 for a tube of eagles and JM Bullion is 391.04 per tube. (just for comparison I only listed single tubes purchased with credit cards as that is what ebay's price is listed as, no discounts for multiple tubes or wire/check discount, which can be had the the other 2 places and free shipping)
 
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Canndo said:
I got in on that. Didn't realize it til this morning though. Too many Bombay Saphires.
012.gif
Click to expand...

crushin bombay and buying gold huh? lol
 

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