What's your silver-buying schedule?

[thecrazyone]

Once a paycheck? Once a month? Only when the price is in the basement? Whenever you feel like it?

I remember someone posting on here that they grabbed some PMs each pay period. I don't know if I need to load up quite that much just yet, I've already made great progress just getting my feet wet with this whole thing, in my opinion. I just don't want to end up with a shiny ton of rounds and then wake up one day and say, "why the heck did I buy all of those when I should have done X instead???" The only reason I feel like we should be really worried (and don't mind my naivete here), is solely because of the fact that these stimulus checks are going out like candy bars.. And also, I'm now reading more and more that "reparations" could be on the horizon for certain people in the U.S., who's to say those reparations won't just be more quick-print, valueless paper?

[AdamsSamoa]

Every pay period

[thecrazyone]

Every pay period

Thanks for your recommendation. I actually think you were the one who had advised me of that last year.

[fasteddy]

every paycheck is a good way to dollar cost average....I buy Ag when I have a hankerin to purchase the shiny silver metal....at plus $25 an ounce no hankerin to buy right now.

[68Camaro]

As others are saying, buy frequently. But buy more when the price is "low", and less when the price is "high", and to do that always keep some powder dry for the dips. You won't be able to buy every dip perfectly, but don't wait to pull the trigger and then fail to pull it at all (I see that all the time), then miss the opportunity entirely.

At the moment prices aren't cheap. At least they don't seem cheap, because a year ago we could find silver for $14 delivered and we still remember that. Normalcy bias tells us that silver should be in the teens, so we want to buy more of it at that same price. That creates a tendency to feel abused if you have to pay $8 over spot starting from $27 and end up at $35 or more per ounce. I understand that. This might be a local bump that goes away, and perhaps waiting for the price to drop is wise (if you are already protected, and just looking to expand holdings). But... eventually there will be a full resumption of the long-term bull, and we'll never see $30 again (for any reasonable time or amount, not counting short-term dips).

Another but... this depends on your overall view of your finances and the global economy. When I was concerned about the entire world going into a reset, AND it was relatively early in my preps, I was relatively poorly protected, so I bought at almost any price to gain insurance. Hindsight is 20/20 and clearly I paid more during that time than if I just had waited, but I was buying against the risk that waiting wasn't an option. It was a form of insurance, and I don't regret what I did at the time, for my situation. I don't advise others to do the same unless they can sleep at night buying $45 silver and then see it drop to $15, and still feel comfortable about it.

[thecrazyone]

As others are saying, buy frequently. But buy more when the price is "low", and less when the price is "high", and to do that always keep some powder dry for the dips. You won't be able to buy every dip perfectly, but don't wait to pull the trigger and then fail to pull it at all (I see that all the time), then miss the opportunity entirely.

At the moment prices aren't cheap. At least they don't seem cheap, because a year ago we could find silver for $14 delivered and we still remember that. Normalcy bias tells us that silver should be in the teens, so we want to buy more of it at that same price. That creates a tendency to feel abused if you have to pay $8 over spot starting from $27 and end up at $35 or more per ounce. I understand that. This might be a local bump that goes away, and perhaps waiting for the price to drop is wise (if you are already protected, and just looking to expand holdings). But... eventually there will be a full resumption of the long-term bull, and we'll never see $30 again (for any reasonable time or amount, not counting short-term dips).

Another but... this depends on your overall view of your finances and the global economy. When I was concerned about the entire world going into a reset, AND it was relatively early in my preps, I was relatively poorly protected, so I bought at almost any price to gain insurance. Hindsight is 20/20 and clearly I paid more during that time than if I just had waited, but I was buying against the risk that waiting wasn't an option. It was a form of insurance, and I don't regret what I did at the time, for my situation. I don't advise others to do the same unless they can sleep at night buying $45 silver and then see it drop to $15, and still feel comfortable about it.

I appreciate all of that intel, thank you. Does anyone foresee it going back down into the teens? I'm guessing no, not for some time.

[Recyclersteve]

I find, trade for or buy silver monthly and have been for probably 10+ years. It could be just a single coin (like September, 2008 when a local dealer wouldn’t sell any more at a time). Or it could be much more, but I’d rather not get into specifics as I had coins stolen a couple times (storage locker and garage at a coin show) and it’s gonna take a long time to get back to the amount of silver I once had.

[Cu Penny Hoarder]

I only buy on large dips.

Bought a sh*t-load on that March dip to $12, only a couple hours before the premiums skyrocketed. At that time I was urging ppl here to do the same. That was quite possibly the buying opportunity of a lifetime.

I would not not be buying large amounts right now. This frenzy will eventually taper off, inventory will come back and premiums will come back down. Could it be "different this time"?... possibly, but I tend to go with past history as a guide. The stock market is due for a large correction/crash. When that happens the PM paper prices are going to dump with it.

[stas3000]

I only buy on large dips.

Bought a sh*t-load on that March dip to $12, only a couple hours before the premiums skyrocketed. At that time I was urging ppl here to do the same. That was quite possibly the buying opportunity of a lifetime.

Congrats - amazing timing! I made a mistake of only getting 20 or so ounces of silver when it all came crashing down. I don't think I bought any "paper" PM's then. There was little physical to buy when I looked but I really could have probably (and should have certainly) bought a lot more. Oh well. I wonder when the next crash to $10/oz happens. Maybe never?

And to answer the original question, I think buying monthly or whenever you get paid is a good idea. It can be a challenge finding inventory that you like on a regular basis though. Physical is over-the-counter market so harder to automatically dollar-cost average like you can with mutual funds, savings bonds, etc. But I suppose it's doable. I sometimes take breaks (months if not quarters at times) but try to buy on a regular basis.

[Recyclersteve]

I only buy on large dips.

Bought a sh*t-load on that March dip to $12, only a couple hours before the premiums skyrocketed. At that time I was urging ppl here to do the same. That was quite possibly the buying opportunity of a lifetime.

I would not not be buying large amounts right now. This frenzy will eventually taper off, inventory will come back and premiums will come back down. Could it be "different this time"?... possibly, but I tend to go with past history as a guide. The stock market is due for a large correction/crash. When that happens the PM paper prices are going to dump with it.

I didn't buy as much physical silver at that time, but did buy the SLV ETF right after the COVID crash. It was a great time to buy.

[Cu Penny Hoarder]

The Wall Street Silver crowd who were chasing and buying at $30 must be kinda pissed right now.

$25.90 as I type this. And will probably go lower when/if the stock market drops.

This is why you never chase price, buy on hype or FOMO... NEVER!

There will ALWAYS be another opportunity to buy. Extreme patience is required in this game.

[thecrazyone]

The Wall Street Silver crowd who were chasing and buying at $30 must be kinda pissed right now.

$25.90 as I type this. And will probably go lower when/if the stock market drops.

This is why you never chase price, buy on hype or FOMO... NEVER!

There will ALWAYS be another opportunity to buy. Extreme patience is required in this game.

I'm new to the silver game, so I'm just glad I now have some in-hand. I think the future is going to be like others here have said, though- it won't be a scenario where they say "starting May 1, the economy is going to tank". Instead, you're just going to wake up one day and turn on the TV, to get something like "um yeah, by the way, your paper currency is worthless starting today. Sorry." I keep pondering buying one of those Zimbabwe Billion Dollar bills, just to prove to my children that it *can* truly happen.

[Cu Penny Hoarder]

The Wall Street Silver crowd who were chasing and buying at $30 must be kinda pissed right now.

$25.90 as I type this. And will probably go lower when/if the stock market drops.

This is why you never chase price, buy on hype or FOMO... NEVER!

There will ALWAYS be another opportunity to buy. Extreme patience is required in this game.

I'm new to the silver game, so I'm just glad I now have some in-hand. I think the future is going to be like others here have said, though- it won't be a scenario where they say "starting May 1, the economy is going to tank". Instead, you're just going to wake up one day and turn on the TV, to get something like "um yeah, by the way, your paper currency is worthless starting today. Sorry." I keep pondering buying one of those Zimbabwe Billion Dollar bills, just to prove to my children that it *can* truly happen.

Well, I'm old and have seen/heard this type of stuff over and over and over again. Yes, someday the USD will be worthless and the devaluation will accelerate with the amount of printing that is happening, but it won't happen overnight all at once. Can't allow confirmation bias to take up parking space in your head. Best way to accumulate PMs over the long term is to buy on dips. The inventory will eventually come back and premiums will come down again. That could take many months. Save that dry powder and get ready to buy the next big dip. Timing is everything.

[68Camaro]

Eeeeh, yeah. I agree with most of that, CPH - we've had this same discussion endless times and I think we're more on the same page than not. But the rest of you need to be aware that there will be an actual end to what seems to be endless cycles of spot silver going up, premiums increasing on top of that, and then premiums dropping to normal rates and spot dropping to lower than when the cycle started. Noting that history repeats itself not only means that silver goes up and down, but it also refers to the longer cycle of fiat currencies always dying spectacular deaths, and generally doing so with little warning.

Also, let's all remember that the street price (less periods of complete hysteria) of small unit silver is the actual value of physical. Spot plus premium is just another way to break down the actual value, which (due to premium changes) oscillates even more than changes in spot would suggest. So what do we think of spot? Spot is a semi-fiction that has some meaning applied to 1000 oz bars in a "normal" market, but it fails to reveal price discovery during high demand, especially for sovereign small unit pieces. So what is the premium? - it is the market imposed correction on top of spot that is needed when the futures market is failing to capture (discover) the actual value.

I agree that the stock market is ripe for another major correction - 35% or more. That could be soon, or a year or two. (I tend to think within the next few months, but we'll see.) And yes when that happens we could see another buying bonanza of price opportunity, until physical is exhausted or the sellers stop selling because they can't offset their risk exposure in a broken futures market. If anyone wants to take advantage of that possibility, keep your eyes open to market directions multiple times a day. If physical runs out or is held back, physically backed ETFs are an option, but they still carry risks.

[coppernickel]

My plan is monthly. Trying for dollar cost averaging.

I am thinking $25 is the current silver price floor. Anything less than $28 an ounce is worth looking at as a potential buy.

[rainsonme]

I buy a little every Saturday. That makes for dollar cost averaging. When price was lower, I bought more. With prices where they are today, I try to buy proofs, proof-sets, mint sets, US mint commemoratives, and similar at melt. '63 mint set went for about $1 over melt, that was close enough for me.

[JadeDragon]

I’ve been buying silver since I was a teen in the 80s. Still have those first bars somewhere. I’m obviously playing a long game and not selling. If I need metal to fund my retirement I might sell but metals are a small part of my asset base (I’m a real estate guy).

I buy when I feel like adding to the stack or I get an opportunity. I don’t have an LCS within an hour drive and living in Canada I don’t like paying a lot for shipping from US dealers. I invest in something - stocks, metal, improving my real estate - every month and almost continually.

I ignore the spot market unless I am out buying or updating my tracking spreadsheet. I take a Buffett like view of my investments. I don’t check on the value of my real estate every day or even every month, so why should I check on the value of my silver or stocks all the time?

If I was getting a salary and had a place to consistently access silver I would go in once or twice a month and buy a round or two. There is real power in being consistent with investing over a few years. This holds true for mutual funds, stocks, precious metals, or or paying off real estate debt.

[Cu Penny Hoarder]

Bought 300oz (10oz bars) when Ag hit $24.55 on todays morning dip, then I went out to run some errands. When I got back and saw Ag up $0.70 cents. I still didn't like paying the high premium, but I got a little bit of a discount. Premiums suck, but it's the accumulation of the ounces is what's most important.

Will be buying buying more if it drops to $22.