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Ok especially with both Au and Ag both dropping, does anyone have a good methodology to purchase the dips. Ex, purchase x amount for x% drop and so on and so forth. Like do you back up the truck on a 10% drop because then you may not be able to back truck up on 25% drop.

Im not trying to figure out how to time a market for a quick profit but just want to hear some strategies from anyone actively purchasing either gold or silver.

When is a dip going to occur? How much of a dip? Buy today and it drops another 2% tomorrow. Sell at $30 and it goes to $32 a few days later.

If you know what it is going to do and when, you could be a multi- millionaire in no time.

I generally buy with the intention of "buying again tomorrow". Meaning if I buy so many ounces today(or this week), and Silver drops, I buy more the next week generally the amount of FRNs being the unchanged variable with only the amount of silver I get being what changes.

If one week it's dropped since the last I'll buy a little more, and then if I come in the next week and its down again(now 2 weeks) I'll buy a little more even, and so on until it starts going back up and I'll buy at the corresponding amounts. I bought most of my silver at around $16/$17 so my average per ounce cost is moving up but I see silver going higher than what I've bought any of it so far so I'm not too concerned. .

Personally, I'm in no position to worry abotu that yet; I'm still trying to establish my base holding.

I just buy as much as I can afford once a month on pay day - usually about ten ounces of silver plus a half gold sovereign.

Hey, silver PM's are going to jump today.

Darn, I posted too late.

Not that it would really work in the long term. But a local coin shop here sells ASEs based on yesterday's silver price. Granted their markup is something like $3.50. So $2 above what I like to pay. But if there is ever a huge jump. I could buy all the have

Devil Soundwave wrote:Personally, I'm in no position to worry abotu that yet; I'm still trying to establish my base holding.

I just buy as much as I can afford once a month on pay day - usually about ten ounces of silver plus a half gold sovereign.

I'm curious, DS---VAT in the UK is now 20%, correct? I don't know if you know many other PM investors in the UK, but, if you do, do you get the sense that there is a preference for gold over silver because of the lack of a VAT on gold, or are Brits just going head-long into silver despite the tax?

Thanks,
Jim

argent_pur wrote:

Devil Soundwave wrote:Personally, I'm in no position to worry abotu that yet; I'm still trying to establish my base holding.

I just buy as much as I can afford once a month on pay day - usually about ten ounces of silver plus a half gold sovereign.

I'm curious, DS---VAT in the UK is now 20%, correct? I don't know if you know many other PM investors in the UK, but, if you do, do you get the sense that there is a preference for gold over silver because of the lack of a VAT on gold, or are Brits just going head-long into silver despite the tax?

Thanks,
Jim

Only know a few peeps who buy PM and they are very much in gold as it has no VAT and in particular, UK gold such as sovereigns, as they are also exempt from capital gains tax.

Personally, i'm as convinced as I can be that silver is headed to high 3 or even 4 digit figures, so I'm jumping right in and taking the VAT hit regardless as I reckon the gains will surpass the shortfall in the long run.

Fingers crossed!

That said, my silver source regularly sells out and they buy in thousands of ounces at a time, so SOMEONE must be buying it here.

Devil Soundwave wrote:

argent_pur wrote:

Devil Soundwave wrote:Personally, I'm in no position to worry abotu that yet; I'm still trying to establish my base holding.

I just buy as much as I can afford once a month on pay day - usually about ten ounces of silver plus a half gold sovereign.

I'm curious, DS---VAT in the UK is now 20%, correct? I don't know if you know many other PM investors in the UK, but, if you do, do you get the sense that there is a preference for gold over silver because of the lack of a VAT on gold, or are Brits just going head-long into silver despite the tax?

Thanks,
Jim

Only know a few peeps who buy PM and they are very much in gold as it has no VAT and in particular, UK gold such as sovereigns, as they are also exempt from capital gains tax.

Personally, i'm as convinced as I can be that silver is headed to high 3 or even 4 digit figures, so I'm jumping right in and taking the VAT hit regardless as I reckon the gains will surpass the shortfall in the long run.

Fingers crossed!

That said, my silver source regularly sells out and they buy in thousands of ounces at a time, so SOMEONE must be buying it here.

Question, pre 64 is legal tender as well as ASEs. If we bought something from DS, could we pay him in those currencies as they would be used as payment in their face value? I know this came up once before but wonder if it makes a difference being in England

I'm wondering if we're overlooking a cheap source of British gold here... and can return the favor to DS by swapping our silver for his gold... saving him 20%? Must be some kind of deal we can work out, don't you think?

I dunno that it's cheap man, just the same really.

Check out www.weightoncoinwonders.com for an idea of the stuff I'm able to buy.

The cheapest half sovereign they have there is £129.

Personally, I only use Weighton for silver as I get a slightly better deal on gold at a local store:

£120 for Half sovereign

£230 for Full Sovereign

So let's look at the cheapest: £230 for 7.322 grams

Works out to approx. £31.41 per gram.

1 troy ounce = 31.1034768 grams

Therefore, 1 Troy = £977.03

That's $1,549.86 USD for gold in sovereigns.


By comparison, i can pick up:

A 1 ounce Krugerand for £925 / $1,467.32 USD
A 1 ounce AGE for £975 / $1,546.64 USD


Gold spot is currently $1338.40, so the conclusion is clear!