Silver and Gold prices are dropping. Buying time?

[Grumpy Old Man]

Silver is now at $25.85 and Gold is at $1478. I believe they will fall further before the market corrects at the end of April or early May.

[bacpacker]

I agree with you Grumpy! Both the stock and metals markets are making moves in opposite directions for no real reasons. I'm not sure when markets will correct, but have no doubt they will pretty soon.

[Sniper-T]

I've been thinking the same thing!

[mitunnelrat]

I believe I will be.

Buying, that is. Not correcting

[Stormfeather]

Been buying for a while, this is as good a time as any in my humble opinion

[idahobob]

Soon.

Prices are going to go down more.

Bob
III

[msomnipotent]

I have been dollar cost averaging, so any day is a day to buy for me. It looks to be in the low $23 range right now, so it is really tempting to buy more than usual but I have other things to do with my money right now.

[Stormfeather]

Gold has dropped to an 8% low compared to last year, with the events in Boston, I would say now is the time to buy, we are about to hit a patriotic buyers I think, so all prices are going to go up. This week is going to be the critical buying point I believe.

[MegaCPC]

If only brass and lead would do the same.

[bacpacker]

I don't have the links available right now ( I will post them tomorrow after a little more investigation ). But I caught a couple of blurbs about a huge gold and silver mine in Utah being shut down due to a collapse. Also another mine that has huge estimated reserves has gotten tied up in court and will not be openong as scheduled. The combination takes a large amount of new production out of the equation for some time to come. Both of these supposedly happened last week as the metals market was collapsing to current levels.
I will do more info gathering tomorrow and try to fill on some major holes in what I have right now.

[bacpacker]

I haven't found everything I was looking for, but here are 2 links to start with. There are several articles and time is short tonight for me, so I'm just going to post up the links. This first one is covering possible gold price manipulation in recent times.

http://finance.yahoo.com/blogs/daily-ticker/gold-rout-blame-central-bank-manipulation-says-gata-154049120.html

This one covers some happenings from last Wensday.

http://silverdoctors.com/force-majeur-was-the-end-game-all-along-comex-will-default-in-the-next-week/

[bacpacker]

Here is some links to the Mine collapse in Utah. Pretty good pictures in some of them. The mine is huge and the slide area is pretty big as well. It's going to take a long time to get this place back up and running. From what I read this mine is responsible for about 10% of the US silver mining capacity and other metals as well. I don't know much about mining, but it sounds like a large variety of stuff comes from this one.

http://investmentwatchblog.com/10-of-us-annual-silver-supply-just-vaporized-huge-collapse-of-worlds-largest-mine/

http://www.news.com.au/world-news/huge-landslide-shuts-kennecott-utah-coppers-bingham-canyon-mine/story-fndir2ev-1226619124124

http://etfdailynews.com/2013/04/17/precious-metals-retailer-says-they-have-been-experiencing-astounding-volume/

[Grumpy Old Man]

I will probably buy some if it drops further. I quit buying when it hit $20 a couple of years ago. I think that other durable goods may be more valuable

[Domeguy]

I am looking to purchase around $5,000-$10,000 physical silver, not from some company who only gives you a piece of paper and about the same in gold, but I don't have the slightest idea of where to start. I am wondering about agent commissions, fees for this, fees for that, fees for paying fees. Where do I go to, and what do I buy. Should I buy coins, bars, 'scrap silver', etc. Anyone have any advice?

[Grumpy Old Man]

Call Bobby at Just Measures Coin shop in Mt Vernon IN. He'll treat you square! Link below. You will need to call him though. See Stormy's post in the WTB Silver thread.

http://justmeasurescs.com/556-2/

[Domeguy]

Call Bobby at Just Measures Coin shop in Mt Vernon IN. He'll treat you square! Link below. You will need to call him though. See Stormy's post in the WTB Silver thread.

http://justmeasurescs.com/556-2/

Thanks for the advice GOM. I will give him a call this week.

[Domeguy]

I meet with our financial advisor this morning from UBS, and one of the things he said was they are expecting gold to go down to around $800 before going back up...just thought someone might find this helpful.

[The Stig]

I am looking to purchase around $5,000-$10,000 physical silver, not from some company who only gives you a piece of paper and about the same in gold, but I don't have the slightest idea of where to start. I am wondering about agent commissions, fees for this, fees for that, fees for paying fees. Where do I go to, and what do I buy. Should I buy coins, bars, 'scrap silver', etc. Anyone have any advice?

apmex.com always treated me right for small purchases. I bet for the amount you've given, if you call them directly you'd get personal attention and can work out a bulk purchase deal.

I'm not a big fan of coins. For those you have to consider the value of the silver content and any additional value from the rarity of the coin. I have no interest in deciphering that an 1894 Indian booger nickle is worth far more than the 1896 version.

At one time Apmex offered silver rounds that appeared to be the old buffalo nickle but were not monetary, just silver. Bars worked too. I didn't see too much difference between the two in terms of function. I did limit total size to 1oz because "making change" for silver is kinda tough post hurricane.

Hope this helps.

[idahobob]

apmex.com always treated me right for small purchases. I bet for the amount you've given, if you call them directly you'd get personal attention and can work out a bulk purchase deal.

I'm not a big fan of coins. For those you have to consider the value of the silver content and any additional value from the rarity of the coin. I have no interest in deciphering that an 1894 Indian booger nickle is worth far more than the 1896 version.

At one time Apmex offered silver rounds that appeared to be the old buffalo nickle but were not monetary, just silver. Bars worked too. I didn't see too much difference between the two in terms of function. I did limit total size to 1oz because "making change" for silver is kinda tough post hurricane.

Hope this helps.

I agree about APMEX. They are about the only ones on line that will tell you what they actually have on hand and what they do not. In this volatile market. I do not want to wait three to four weeks to take possession of what I purchase.

I too, only purchase in 1oz increments or smaller, depending on what I am purchasing.

I would not be afraid to purchase today, with the prices fluctuating, you just cannot predict when they will hit bottom. Any price is a good price when using useless FRN's.

Bob
III

[The Stig]

$10,000 of 1oz silver rounds is gonna make the UPS guy hate you when it's delivered.....just sayin.

[MegaCPC]

It's still dropping. If it hits 15 bucks I'll buy.

[cwconnertx]

$10,000 of 1oz silver rounds is gonna make the UPS guy hate you when it's delivered.....just sayin.

not as much as two tins of 5.45 ammo.... in the wooden crate

[TroubleShooter]

apmex.com always treated me right for small purchases. I bet for the amount you've given, if you call them directly you'd get personal attention and can work out a bulk purchase deal.

I'm not a big fan of coins. For those you have to consider the value of the silver content and any additional value from the rarity of the coin. I have no interest in deciphering that an 1894 Indian booger nickle is worth far more than the 1896 version.

At one time Apmex offered silver rounds that appeared to be the old buffalo nickle but were not monetary, just silver. Bars worked too. I didn't see too much difference between the two in terms of function. I did limit total size to 1oz because "making change" for silver is kinda tough post hurricane.

Hope this helps.

Same here...good luck with Apmex, I also buy the 1/2 oz rounds....a little higher price per oz , but I am preparing to use them as trade fodder.....

[ladyhk13]

I looked at the 1 oz bars on Apmex and was wondering if it reakky makes any difference on the ones to buy. They are .999 pure but just different designs. I would be buying for barter/silver value only and don't care about collectors value. Anyone have suggestions or thoughts?

[Stormfeather]

If you are not going for collector value, Just get the ones that are clearly marked .999 silver and come from a reputable place.

[ladyhk13]

I was looking on Apmex so from what I've seen on the site here they have a good reputation right? Thanks.

[Stormfeather]

Yes, Ampex is good to go

[momabear]

I looked at the 1 oz bars on Apmex and was wondering if it reakky makes any difference on the ones to buy. They are .999 pure but just different designs. I would be buying for barter/silver value only and don't care about collectors value. Anyone have suggestions or thoughts?
im putting my money in rabbits make good trade and will feed my family and garden i thank its a good play what about you guys ?

[ladyhk13]

im putting my money in rabbits make good trade and will feed my family and garden i thank its a good play what about you guys ?

Rabbits are wonderful little animals...we have a thread just for animals here so if you would, pls go over there and tell us all about them! What kind do you have, how they are raised, kept, fed, do you slaughter them yourself? There is another thread on food that you can even share your recipes and if you can the meat too. Personally I've never tried the meat...afraid to. Looking forward to your info.

[Stormfeather]

Dont be scared to try it, taste exactly like chicken when its deep fried southern style!

[Brownwater Riverrat 13]

And he's probably wondering what this tastes like.......Hmmmmmmmm?

http://img203.imageshack.us/img203/7167/tee7.jpg (http://imageshack.us/photo/my-images/203/tee7.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

[izzyscout21]

Dont be scared to try it, taste exactly like chicken when its deep fried southern style!


LOL. Most things taste like chicken after they are deep fried southern style........and covered in gravy........

mmmmmmmmmmmm...........graaavyyy.........

[ladyhk13]

Ok guys the thread is being derailed. Can we pls get back to silver and gold here? Thank you.

[momabear]

Ok guys the thread is being derailed. Can we pls get back to silver and gold here? Thank you.

sorry

[ladyhk13]

Not your fault moma, the guys decided to play.

[izzyscout21]

sorry


Its ok, momabear.

we have a tendency to wreck a lot of trains here!

[momabear]

i posted a thread on rabbits in the right place i hope let me no ok.

[izzyscout21]

perfect. good spot.

[ladyhk13]

The prices are running around $22-23. Depending on what you're looking at. Nothing fancy of course. Anyone know anything about Leer? They have some kind of special going on with polar bear coins...and since polar bears are my fav animal...

[bacpacker]

They advertize on Fox quite a bit. Never used them before. I have used Swiss America several times in past years. I know they have been in buisness since the mid 90's at least. I was happy with what I got from them.

[izzyscout21]

Ive ordered from Scottsdale Silver after 2die4 recommended them. They took a few weeks to ship, but they tell you the lead times up front. I was very happy with what i recieved.

I especially liked their 1/10th ounce rounds. They are the size if a dime, so i liked them just in case i didnt want to give up a whole oz. Kind of like being able to make change. I like the smaller denominations for that reason. I dont think ill buy anything bigger than an ounce.

[ladyhk13]

We have some different sizes but nothing that small...I don't think we have half oz either. I just realized in their description of generic silver .999 +fine that they chose what they send (no problem with them choosing bars or rounds) but as I read I realized they could also chose "plated" which correct me if I'm wrong, but isn't that silver poured over a lower grade metal?

[bacpacker]

Your right about the plated types. Not pure silver.

[ladyhk13]

That's what I thought. I was surprised to find it in their .999 pure generic silver. You tell them how many oz ya ant and they decide what they send you. I would be pretty pissed if I ended up with plated crap. Good thing I read the whole description .

[izzyscout21]

i bought a couple times from them, all I got was bars or rounds.

[ladyhk13]

Guess ill have to do the separate order. They had that one where ya got a combination of them which was nice but they could throw junk in if they wanted which sucks. Oh we'll. been watching prices. Gone up about .10 since paying attention. Don't know if I should just buy or wait and see if it goes back down some more. One of the silver forums seems to think its going to drop some more. Thoughts?

[bacpacker]

I've read various places of the possiblities of Silver prices dropping as low as $17. Not sure I would wait too long. It has more or less stabilized over the past couple weeks. IMO it could go either way over the next few months.

[Kesephist]

Apologies for the necro-post.

22 months since the last post on here regarding silver pricing. Highest it got since then was in late August 2013, at about $25, and lowest was about $15.30 in November 2014 It's stayed pretty firmly below $18 all year to date.

Hysterical note: Ag traded for $11.86 at the beginning of the present, nearly totalitarian regime (Jan. 20,2009). I routinely kick myself for not having gotten into the game at that time. Since, however, I have made tall effort to fix things, having XXXXXXXXX grams as of this writing.

If the several moderators and / or other interested parties wish copies of the links to the more reputable silver mints, I will be glad to post them here or send them via privatemail. I am a member of another site that does precious metals, and if I obtain their permission, I will post it too, if desired.

BROAD HINT: DON'T BUY PM FROM EBAY UNLESS YOU WANT TO OVERPAY.

Kesephist

[Domeguy]

I too have wished I had paid more attention to money matters, prepping, and gold & silver prices in the past. During most of the 90's, I worked for Pepsi, and in that time probably went through a Million dollars in quarters from the vending machines. If I had exchanged out the pre 1964 silver quarters for my own money, I would be a retired multi-millionaire. But at least I have the retired part.

[Sniper-T]

FYI... I work in the mining industry, and right now we are in the tail end of a lull. Our future forecast is bright as things are picking up across the board. I cannot recommend anything, but I know that after a 1.5 year hiatus, my buying will begin again in earnest, starting with my very next cheque.

[bacpacker]

I buy anytime I find anything I think is decently priced. Most of mine are pre 65 coins.

T thanks for the update on the industry. Always good to get timely info.

[Domeguy]

If I may ask, when you mention you buying in earnest again, are you meaning everything in general, or are you meaning precious metals like silver & gold?

[Sniper-T]

gold and silver for me... I cannot speak of anything other than what I am buying personally. (insider trader issues)

But I do follow a single gemstone... very carefully, called Tanzenite.

My company has nothing to do with the mining... but our forecasters, wish we did! amazing gemstone, extremely small supply!

[Domeguy]

Yes they are beautiful. My father had a fascination with Tanzanite in the last years of his life and purchased a few mid quality stones, plus many other stones, but they were fron a TV auction site. They were not as they said they were. Even when they said top quality, A-1 appraised, they didn't mention they were appraised by their own company. We ended selling his gem stone collection after he passed away for penny's on the dollar. I'm sure you know what you are doing, but buyer beware!

[Kesephist]

Folks... I belong to two silver and gold websites ... which is about all that I can disclose at this time without their permission. I have been an advocator of group buys, those being where the small investors get together and make big purchaser purchases, with the concomitant benefit of lower prices. I've been in several, and led a few as well. I do not see the present price getting very much lower. If there are silver-savvy members here, if you get a group buy together, let me know.

Frankly, this low Ag price is the metals equivalent of raining soup, and I kick myself that I do not have a larger bucket (wallet... mixed metaphors)

Kesephist

[Domeguy]

I know buying off of ebay is a money losing solution, and larger companies charge commissions, and others are just untrustworthy. Does anyone know what is the best to buy from when you consider everything all together, cost, commissions, trustworthyness? And what are the commissions usually charged with larger companies?

[jamesneuen]

http://www.pmbull.com/silver-bullion/

usually gives me really good prices over spot, based on the size I am buying.

[bacpacker]

The only company I have ever dealt with is http://www.swissamerica.com/. I haven't bought from them in several years, but they always did me well. I was never disappointed in what I bought.

[realist]

I have used the below people and have have very good service. They do have sales in which they lower the commission a couple times a year.
http://www.jmbullion.com/

I buy gold and silver for two purposes. One it for investment I would like to have about 10% in PMs. The other purpose it for emergency cash and this is in junk silver. Silver and gold is not at a bad price at this time if you are looking at buying, it has stayed at this level for quite a while.

[Kesephist]

And here i am fifty days later, still without sufficient wallet today, but hopefully tomorrow... Ag dipped below $14.80 for the first time since early on in the BHO regime. Six hours ago it was $15.60. Now it bounded back up to about $15.10...

[bacpacker]

I don't have a link, but just read the the US mint has suspended Sliver Eagle sales until August. Said the mint ran out of zilver. Strange.

[realist]

I have bought from JM Bullion and had very good luck with them. They have silver and I did not see they were having problems with their inventory.
http://www.jmbullion.com/silver/silver-coins/american-silver-eagles/uncirculated-ase/

[Twitchy]

I don't have a link, but just read the the US mint has suspended Sliver Eagle sales until August. Said the mint ran out of zilver. Strange.

Yeah, they are likely flying off the shelves at this price... I recall when it was a great buy in the mid 20's per ounce... Makes me cringe when I look at what I paid for a small amount a few years ago.

[realist]

Bacpacker you are right about the coins being suspended until August 1st. I saw that on JMs site yesterday. They are doing presale at $18.31 now. So it might be time to do some shopping.

[bacpacker]

Unless prices are high, it's always time to buy silver. Gold cost so much, that is a planned buy in my mind. But silver is almost a regular purchase item.

[Domeguy]

On Tuesday after the global meltdown, I invested a good sum on silver for my stepmother from JM Bullion. I tried to place my order, but had a question, as they at that time had no silver flat bars in one ounce. The did a few minutes earlies, so I tried to call, and the call was dropped after being on hold for 45 minutes, so with my order I also had to get hand poured bars, which were $2 more an ounce. The pressed bars re-appeared on the site after I placed my order. So I looked up their rules, which states after an order has been placed, it can't be changed...fair enough. But the do have a policy where they will buy back silver if not shipped minus some fees and such...fair enough. So I called the next day, another 30 minute hold, and told them I wanted flat bars, not hand poured. The woman on the phone politely told me there was nothing I could do, except cancel my entire order which I didn't want to do, and after a few minutes of questions, she asked me if I wanted to talk to a manager, and I said yes. I too was very polite, not hostile, just wanted to know the policy of what to do in the future. After talking to the manager, again a long wait, he agreed to exchange them for me. So, as of right now, I'm a happy camper, and would suggest this company...but I'll let you know when the silver arrives. They told me if they are out of something, just wait a few minutes, it should come back in stock in a few minutes...especially pressed one ounce bars.

http://i48.photobucket.com/albums/f226/gantsum/b64bb821dec96522cfcdbf5b8ccc2106_zpsuuhyedkn.jpg

[realist]

When I buy silver I like the silver eagles in one ounce weights. People recognize these so I am also looking at potentially using them in barter situations but also for investment. There are a lot of people out there that say silver is too heavy to carry and I then tell them to buy gold. They tell me gold it too expensive. So they have to make up their minds what to get, I find a lot of people just want to be told what is best.

[Kesephist]

When I buy silver I like the silver eagles in one ounce weights. People recognize these so I am also looking at potentially using them in barter situations but also for investment. There are a lot of people out there that say silver is too heavy to carry and I then tell them to buy gold. They tell me gold it too expensive. So they have to make up their minds what to get, I find a lot of people just want to be told what is best.

My policy is to buy rounds. Rounds have the composition, purity, and weight of the round stamped on them.

Coins may or may not have all three of those values on them, and have arbitrary specie values, which has always been confusing.

The basic round sizes are 1 ozt, 1/2 ozt, 1/4 ozt, and 1/10 ozt. (ozt = ounce troy, 31.1grams)

I've stuck heavily with the ounces and have some of the fractionals for making change.

Bars tend to be much heavier. My experience has been 1 ozt, 5 ozt, 10 ozt, 1 kg ( 32 & 3/20 ozt) and 100 ozt.

By "heavier" the parties in question likely meant too much VOLUME for weight and value. Thanks, but what little gold I will ever have will be MUCH less than silver by a factor of XXXX. That and some poor schmo with worn silver will be far less of a target for theft than a guy trading in gold.

Apologies if it sounds like lecturing. I've spent the last four years trying to make up for the three years of missed chances before that in silver, with a lot of learning and admittedly mixed success.

Kesephist

[izzyscout21]

My policy is to buy rounds. Rounds have the composition, purity, and weight of the round stamped on them.

Coins may or may not have all three of those values on them, and have arbitrary specie values, which has always been confusing.




^^This

[izzyscout21]

I've used Scottsdale in the past with pretty good results.

[Kesephist]

I've used Scottsdale in the past with pretty good results.

Bit pricy, but their Omnia and Reserve 1 ozt rounds and their basic 1 ozt house bar are very very good for the money.

Best ag for the FRN I've had is Monarch Precious Metals ( http://www.monarchpreciousmetals.com/ )

Supposedly, all the dimwits that can't get along w/o their cell have, in their hands, an ounce of silver that in the traces and solder joints of the cell.

Best chuckle about silver I've had since I got into it.

A post-SHTF entrepreneur with patience will make a fortune out of scavenging the batteries and silver out of all those abandoned cells. Gang enough of the batteries together and you get a decent storage cell.


Kesephist

[Domeguy]

When I buy silver I like the silver eagles in one ounce weights. People recognize these so I am also looking at potentially using them in barter situations but also for investment. There are a lot of people out there that say silver is too heavy to carry and I then tell them to buy gold. They tell me gold it too expensive. So they have to make up their minds what to get, I find a lot of people just want to be told what is best.

I agree, and would buy the silver Eagles exclusively, but except for the fact the pressed bars are $2-3 less. For that standpoint, I am buying bars more than coins.

[Domeguy]

The silver came in from JMB a few days ago, and I'm OK with them. From the order date it took almost a month to get it. I did however find silver even cheaper from the Sunshine Mint itself. I ordered a 5 oz. bar, and even paying with PayPal, it was cheaper than JMB check price, and should be here in just a few days versus a month. I'll let you know how this transaction goes when it gets here.

[Kesephist]

Folks,

I have decided to break silence on one of the other sites I frequent. Presently they are executing a group buy of 2 oz silver rounds. The details are at the following location:

http://www.bullionstacker.com/viewtopic.php?f=27&t=23227

I have had transactions there and am satisfied in regards of their transparency and integrity. Silver is at near six year low.

Published for your approval.

Kesephist