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When do you buy silver?
Posted:
Tue Feb 28, 2012 8:40 pmby schockergd
I've been buying & selling silver for a little over a year now. So far I've made a bit of money doing it locally by forming a 'silver club'. In the club (Really it's just a few guys I know that buy PMs) , I have them commit to a certain dollar amount over/under spot for coin grade silver. When I purchase some wholesale directly from sellers, I then turn over part of the amount and either pocket the rest or something similar.
However my local guys are now getting pretty full. I could always ask for more, but I'm curious what the average person online would be willing to buy silver at in this current market. At 26-29 almost everyone I knew was willing to buy a truckload above spot, but now things are a little calmer.
So , I'm curious where everyone's buy point is. I of course do not want to deal with ebay as I've had far too many problems and they suck the margins away pretty quickly.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 8:45 pmby fb101
it all depends on the deal and the time.
It varies.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 8:52 pmby Engineer
A buy or sell point isn't always about a particular number of dollars. It's easy to get stuck on a number that way and miss a good buy or sell point. In general, though, I'm a buyer when the price is below short and long term moving averages, and a seller when it breaks above them.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 8:53 pmby Robarons
When you sell silver online you tend to hit your head on Apmex, Tulving,provident's prices in terms of selling silver.
You can charge a little more than those guys if you sell in smaller quantities, accept wider forms of payment,etc. but your constricted for the most part.
Ebay is top of the market crazy un-informed buyers anyways. More realistic people, like in this forum, are going to buy at reasonable premiums which are pretty darn close to spot.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 8:58 pmby justj2k78
Yes.
Always buying some. always buying more!
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 9:01 pmby galenrog
Every week, schedule permitting. LCS holds chunky A-Mark bars for me.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 9:16 pmby John_doe
Know your markets. I would suggest trending the silver market.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 9:52 pmby Hades12
When I have money that is not needed other places.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 10:04 pmby BamaJoe
Hades12 wrote:When I have money that is not needed other places.
Ditto. Since 2001 if I didn't need the paper elsewhere it went to silver. - ok gold also.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 11:20 pmby knibloe
I buy when I can get it under spot.
Re: When do you buy silver?
Posted:
Tue Feb 28, 2012 11:35 pmby tractorman
I have one hard and fast rule ... I ONLY buy on days of the week ending in "y".