Buy silver today or wait until Friday night?

[JJM]

Silver is down a buck or so today and I have an opportunity to buy a 1/4 bag of mixed common U.S. coinage for about 85% of spot price. If you were me, would you do it today? Or would you wait until the market closed on Friday? I'm pretty bear-ish on PM's right now and am leaning towards waiting. I know there are a lot of bulls in here though so I want to see what you guys think.

[Rodebaugh]

I was going to say hold off...but at 85% of spot....my tune changed to BUY BUY BUY....then FLIP FLIP FLIP.

[newton7]

BUY BUY BUY.

[scrapper2010]

I would buy now unless you can still get the discount on Friday in which case I'd wait to see what happens.

[Cu Penny Hoarder]

IMO, it totally depends on where you started accumulating. If you bought the majority of your stash below $10, you're sitting pretty and can afford to wait/hope for lower prices. If someone bought large over $40, they might want to cost average in.

Right now PMs are moving in lock-step with the stock market. Ag is a good buy at these prices, but I'm hoping it sinks to the mid 20's again and be a great buy. I still have lots of FRNs I need to get rid of.

[pennypicker]

Currently with spot at $31.28 I would be on the fence with respect to buying. However with an opportunity to buy at 85% of spot I myself would go for it. Our local coin shops are charging spot plus 10% for 90% silver so in reality you have an opportunity to pick up some 90% silver today for 25% less than I can.

[JJM]

Thanks for the votes and the feedback folks, look forward to seeing how the week in news and spot price (and the poll) progresses.

"Lock step" indeed, that's my biggest red flag indicator.

If I had the ability to turn it quickly, I would consider it. But I don't, and most of it would get tucked away for a rainy day.

BTW, there's no guarantee it will still be there Friday, or that he'll still be talking sub-spot if it is.

But holding off just a couple of hours netted me a small butter container full of $20 peace dollars and some wheat cents to pick through. I'm "chuffed" as the folks in the old country are apt to say. I never get "play" like this out here in the sticks, I'm digging the good fortune!
'

[balz]

I would wait. If we get below 28-30$ again we might see 21-22.

[barrytrot]

I would wait. If we get below 28-30$ again we might see 21-22.

I'm shocked people keep saying 21/22 range. That's never happening, people.

[beauanderos]

I would wait. If we get below 28-30$ again we might see 21-22.

I'm shocked people keep saying 21/22 range. That's never happening, people.

Never happening if you relied on natural market forces. But self-impregnating JPM can do whatever they want, carte blanche with impunity, with the apparent blessings of any regulatory oversight organizations. Will they drop the price to low 20's? Would require a heckalot of naked shorts, but if they time it right, disguised within a broad market sell-off... who's going to know? And if they force the price down that low, it would rebound with some resilience. At some point in time, physical prices will set the market, not faux paper derivatives. That all said... Barry, I'm placing my bets at the same table on this one. You have a great buying opportunity right now, who knows what will happen by Friday. Take the bird in the hand and quit being either greedy or fearful. (and count your blessings the market is fixed and offers you "specials" from time to time)

[68Camaro]

Nothing personal to anyone specific, especially the thread starter, but...

I'm getting a little tired of silver getting down to $30-31 range (or even lower) and people asking when its time to buy, not buying, and then when it goes up, complaining about it and wanting it to go down again. So it goes down again, and again they ask when it is time to buy. It will not keep doing this forever. It was not long ago that $31 silver was considered high. Not anymore. Get it while you can.

IF YOU HAVE FRN'S - IT IS TIME TO BUY! NOW!

There, said it.

Ooops, maybe too late. You might have missed the bottom.

BUY NOW, ANYWAY!

[shinnosuke]

There goes 68 again with those subtle messages of his. Never can tell what that guy is thinking.

[SoFa]

Wait until it is dirt cheap. When you are just shocked at how cheap it is and are kicking yourself for buying so much at the higher prices.

[OneBiteAtATime]

I'm thinking... buy buy buy now AND buy buy buy this weekend AND buy buy buy until you cannot buy buy buy no more.

[beauanderos]

Wait until it is dirt cheap. When you are just shocked at how cheap it is and are kicking yourself for buying so much at the higher prices.

What planet do you live on? It's at 600 year lows... how is that not dirt cheap... what more do you want???

[OneBiteAtATime]

B- I think that was sarcasm.

[bman]

I didn't vote, I don't see the buy now and wait until Friday to buy some more option.

[beauanderos]

I hope you guys bought yesterday. Listen to 68camaro, everywhere he goes he gets to say "Hi, I'm Rich." ... how do you think he got that name?!


If you turned your back on Santa's Gift Surprise yesterday... then this is about all I can say

[rsk1963]

I hope you guys bought yesterday. Listen to 68camaro, everywhere he goes he gets to say "Hi, I'm Rich." ... how do you think he got that name?!


If you turned your back on Santa's Gift Surprise yesterday... then this is about all I can say

[.02FYI]

Some are advocating buying each dip. Which I belive just went away. Unless you realize that Silver is currently under its 200 day moving average by several dollars. Historically this has been great time to buy. I remember when it was 1.78 x the 200 day moving average . so I'm not a chart guy but still a buy. So if your buying dips look for the next one even though were still in one big oe down from 48 range. The options expirary day( today) I believe is fading the rising price is not unexpected. This gift lower prices or pain for those who want to sale especially if they bought over 40. Myself included. At some point when you look back these prices including the buys in the 40's will look quite low . IMHO. So due your own due dilligence, look at your cash needs. Do you have funds that you don't need over the next two years.What do yo think price of silver will be in the November of 2013 range. So If you bought under 10 congrats to you . I will bee saying the same thing when silver goes over 68 -72 range weather you bought now and continue buying in the 40's . Remember you have to allocate your assets. You will need FRNs, bank deposits to buy your pennies, nickles, pay your bills. etc.. It is helpful if you have a cushion. Happy Thanksgiving to all.

[reddirtcoins]

something is going on....

http://www.sec.gov/Archives/edgar/data/ ... 74_6-k.htm

[68Camaro]

Sprott is adding to the fund. The price premium on it has disappeared for the moment, and the price is now very close to fair value. It would be an excellent time to buy in. If I wasn't already stubbornly all-in on it, I would buy more.

[68Camaro]

I hope you guys bought yesterday. Listen to 68camaro, everywhere he goes he gets to say "Hi, I'm Rich." ... how do you think he got that name?!

That would be if I actually HAD any silver - rather than just thinking about it...

Price is not at the local bottom, but it's still a great price. If you're trying to time a bottom, don't.

[JJM]

Thanks for all the votes and comments guys, much appreciated.

"I snoozed and I loosed", and I'm OK with that. I firmly believe a bigger dip is coming. Not sure exactly when, but I'm pretty sure it will be sometime relatively soon (within 6 months at the most). To which I say, bring it on!

Local coin dealer carted off the common date stuff earlier today - I'd made an offer yesterday of $7.5K for $100 face in wheats and $250 face in junk silver. Evidently LCD made a better offer on the silver as he got it, although the seller is now stuck holding 20 bags of common wheats he wants to move (and in which I have no longer have an interest in).

[beauanderos]

Starting a new thread for this story. Worthy of its own thread.

http://www.beaconequity.com/%E2%80%9Cho ... 011-11-22/