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I am really enjoying this!
Buying back a bunch of silver I sold earlier this year

I think the silver market is dead/dormant. It was overplayed by salesmen on the radio and in the paper.

I would love to see another 10+ years of a depressed metals market.

Doesn't anyone else here think all the We Buy Gold shops on every block is weird?

I'm stackin been stackin since 6 bucks an ounce. It wasn't that long ago when I refused to buy a Peace dollar for more than 10 bucks.

When I first joined here I sold someone a big pile for $16, and they were pretty ones. I regret it and look forward to buying them back.

Yes:

I sold a lot of my silver & gold at higher prices. I certainly am enjoying buying it back at these lower prices.

There is one PROBLEM. I am finding it hard to find silver & gold at good prices. A lot of places have nothing available! I have never seen a spead this wide between paper and physical.

I bought a dozen Morgan & Peace dollars today for $23.50 a piece...

So it is out there, but you've got to look.

I'm sure that everyone who is old enough and was planning on selling their precious metals to supplement their retirement agrees with you on this one.

beauanderos wrote:I'm sure that everyone who is old enough and was planning on selling their precious metals to supplement their retirement agrees with you on this one.

With all due respect, how many of the old farts really cared about the ability of younger generations to retire?

Engineer wrote:

beauanderos wrote:I'm sure that everyone who is old enough and was planning on selling their precious metals to supplement their retirement agrees with you on this one.

With all due respect, how many of the old farts really cared about the ability of younger generations to retire?

Some, but in general, when it is time to vote, they are decidedly against any proposals to reform social security, Medicare, etc.

Is this a pm dip or slide? Lol. I guess dip all plies, because even if the spot price drops back to $10, it will rise again, therefore creating a dip.

agmoose wrote:

Engineer wrote:

beauanderos wrote:I'm sure that everyone who is old enough and was planning on selling their precious metals to supplement their retirement agrees with you on this one.

With all due respect, how many of the old farts really cared about the ability of younger generations to retire?

Some, but in general, when it is time to vote, they are decidedly against any proposals to reform social security, Medicare, etc.

IMHO, government spending (including entitlements and social security) doesn't matter. Those are simply a symptom of the fiat disease. If they don't spend it at home, they'll make up for it overseas.

What I know for a fact is that my parents cared more about increases in their home equity than my ability to get a good deal on a first home. They cared more about their stock market gains than my ability to buy at a low P/E...and I'm pretty sure if they held PMs, they'd be more concerned with a high price today than my ability to stack.

I'll always be there to help them out, but fluff them if they expect my generation to live on rice and beans so they can continue to eat steak.

Thogey wrote:I am really enjoying this!
Buying back a bunch of silver I sold earlier this year

I think the silver market is dead/dormant. It was overplayed by salesmen on the radio and in the paper.

I would love to see another 10+ years of a depressed metals market.

Doesn't anyone else here think all the We Buy Gold shops on every block is weird?

I'm stackin been stackin since 6 bucks an ounce. It wasn't that long ago when I refused to buy a Peace dollar for more than 10 bucks.

When I first joined here I sold someone a big pile for $16, and they were pretty ones. I regret it and look forward to buying them back.

"enjoying?".....when I think of the word "enjoy"....I see three nice ribeyes sizzling on the grill....or I see 30 sugar maple biscuits sitting near the splitter......

so I don't know about "enjoy"...that said I AM glad, you sold phy Ag I would presume you picked up in the 5-10 dollar range....and I would assume further that these sales came for a stack that is (forgive me for bandying numbers) came from a stack that is 2k toz and up, which is, ...yeh, 30 plus, you sell 1k toz, in anticipation of buying it back ...say 15 to 18 dollars the toz.

I hope we see that, actual physical inventory coming in, AT 15 to 18 toz.....think about it...or this.....to SAY, I just bought a roll of Sae's at $300.....or even $360!!

Boy howdy Major...YEH......to get American Silver Eagles at $15 to 18 dollars PER?....THAT PRICE....right there, 15 to 18 is the exact price I bought my first rolls of ASE's...I remember this clear, in fact I got it ALL written down in my inventory journal....when guys were paying 330 in auction, some guy offered 'buy it nows" at 360, and I bought a bunch.

so maybe you can start to refill inventory at this lower level...I do hope so. as for me? gosh, I don't even KNOW where THINGS are headed next.....here's something I discovered; I watch pretty darn near the price of everything, just a couple months ago LUMBER was up around the 380-390 area.....now its trading in the 320's....that's a HUGE bite, I read the other day, guy said "lumber is the new Baltic dry index indicator".....which seemed just about right, so you might want to watch that.

article: http://www.zerohedge.com/news/2013-05-1 ... baltic-dry

the currencies are wiggling and squiggling aren't they, both the yen and the euro getting clobbered, the dollar trades above 84, and I keep reading articles about how the "BRICS" want to smash the USD as world reserve currency.......then I read another article that says WE are the biggest energy producer in the world....then another article about how domestic mogas consumption went down 4-5% two months in a row....so many pieces are the board FLYING.

I just don't KNOW what to make of it all, but I sure do hope you can replacement buy, a respectful salute to you Major, and i'm going head back to the barracks, neil

Am I "enjoying it"? Yes, and no.

Yes, I am enjoying being able to buy back silver sold at higher prices!!!! LIke all other sudden large dips, the LCS are unwilling to sell at spot 'cause they got too much into it. You have to really hunt for a good deal. It gives me more time to prepare for the day fiat is no longer currency.

No! I don't understand such a big dip! I am worried silver may not go up again far enough to fund my retirement like I have planned. This is not what I was expecting when I bought into "the fundamentals" described by the likes of Antal Fekete, Ted Butler, and a host of others. I am still a believer, just a befuddled one right now.

I am pleased the price has come down. It has given me a chance to buy higher quality silver (at just over $25/oz) than I typically have being a silver whore. I bought in on the initial drop as the premiums were not as high as they have been since, and now (5/15) a month later with the price mid-$22 I can buy retail at under $25/oz. Oh, but there is still a delay on shipping in that I may get last month's order at the end of this week or next week or so I have been told. That is a delay of about 5 weeks, possibly more. I could say while I am pleased the price has come down, I am not pleased with the premiums nor the delayed shipping.

Bottom line is unless the premiums come down more, I'm flat out in protest and NOT BUYING RETAIL. I'll buy gold before I buy silver at these premiums and have done so. However, I reserve the right to have a moment of weakness.

Having said that if prices come down even more and I can do the 100 oz buy wholesale, I'd buy from Golden State (Thank You, Ray). No dollar cost averaging, pick the bottom if possible and buy. If it goes lower, pick the 2nd bottom and buy. How low is the bottom?

I don't think we've even seen "Tanked" yet. I think we are on a slow sink with all the pumps going full blast, dumping all the ballast we can, the band is still playing, the stewards still passing out drinks, and the capt'n yet to tell us there is a problem that can't be handled. Good chance it will take a break down of one of the generators providing power to the bilge pumps to notice the water lapping onto the deck or similar type of "emergency" causing a significant drop in the status quo.

Just know which lifeboat is the one you will be in(?) and have your route pre-planned, if not already sitting in your seat. Cuz when they announce the que for the lifeboats, if you aren't 1st class . . . you aren't getting on. Self-Preservation, It's just human nature.

Not at the moment, but....

I hope to buy some more this week!

Thogey wrote:Doesn't anyone else here think all the We Buy Gold shops on every block is weird?

It's a result of the increased demand in the East. What these shops are telling us is that our nation needs to get a clue, because otherwise these shops wouldn't be in business. If nothing else people could be getting more value by selling to a coin shop than these lowball places.

I am mixed about the PM dip. Yes I am happy to buy on the cheap, always will be in that regard. It's just that a lot of people who probably didn't stack through 2008 are getting cold feet and I'd rather see everyone snatching up that metal on the cheap. Not because I want the exchanges to bust (this is both good and bad for different reasons), but because anybody who isn't prepared for the wealth transfer is more likely to be in need help down the line. I'd rather they were in a position to be of help. Our posterity may depend on it.

My feet are feeling a bit cold because I'm not sure if the silver cycle is still ramping up from a production perspective, seems to me it is.
Got the core stack built, but am leary because it's been such a slow downhill ride the last couple of years. Mostly, I'm lying in wait for the final dip, don't know when it's going to be, but figure it may take awhile. Also .. premiums, you pay x over, and when you go to sell one day you'll get x under, these are unknowns at different buy and sell levels. I'm enjoying the PM dip for what it's worth, albeit by the sidelines. Maybe .. next recession, or when commodities start to shake out a bit more I'll dive in a bit further.

Lower prices help with stacking. IMHO, some floor has to be reached in price. So, buy a little on dips and try pay the least amount in premiums. If silver does another shot at $50 in a few years from now, I do not think the premiums will get the same multiplier over the base spot prices we have here.

Personally, I think it is exciting that the limelight can be taken off silver. The sooner we get some baseline price for silver, the sooner the cost basis gets a floor. I'll be glad to have less ads for silver on the radio. Thing is, money has to find a home. What vehicles will Wall Street push to get dollars from Main Street? I for one will be glad if silver goes back to a quiet, stodgy means of storing wealth.

JerrySpringer wrote:I for one will be glad if silver goes back to a quiet, stodgy means of storing wealth.

Engineer wrote:

JerrySpringer wrote:I for one will be glad if silver goes back to a quiet, stodgy means of storing wealth.

I think we have summoned a good generation of individuals that will not forget in the years to come the value of being able to hold what used to be money for the masses in their two hands if they so desire. It will be very interesting to see how the marketplace treats silver in the upcoming years. I think a genie has come out of the bottle so to speak. Many people will be stackers for the years to come now.