Buying Opportunities?

[Hawkeye]

I'm still fairly new to buying silver (been doing it for about a year and a half now). I don't have anywhere near the amount of silver that I would like to have and I was wondering what you all think about the current price. To be honest, it still feels like a long term "good deal" to me, even at $21/oz, but do you think we will have the opportunity to buy at $15/oz or even $16-18/oz again in the not too distant future? I still can't believe I missed the years of >$10/oz silver.

[misteroman]

That's a very hard question to answer. I would say yes and yes which doesn't help at all. Basically it's buy whatever you can afford and try and get the best price possible. Put an ad on Craigslist or your local am station should have a free swap show.

[Lemon Thrower]

possible but unlikely. the price tends to dip when options and futures are closed out at the end of the month. so watch the price at the end of the month.

if you don't have as much as you'd like, you are better in the long run to buy now rather than try to save a few cents. i think long term the price will be much higher than 21. so you are risking several bucks to save maybe 50 cents imho.

right now i think there is a risk of a minor pullback until options expiration and then we are likely going higher.

[Sheikh_yer_Bu'Tay]

I have bought it for as little as $4.25 and as high as $22.00. You have to look at your financial position and decide what you can budget for PM's. After that, cost averaging may help you. My average price is $13.12. $21.60 / $13.12 = 1.64. That is a 164% ROI for my efforts if I sold out today. I will continue to buy as long as I have FRN's to buy with.

No one really knows what is going to happen, but I think the long term trend of silver is up, up, and away. Like the Lone Ranger often said: "Hi-O, Silver! Away!"

[coppertone]

I am relatively new to buying silver (6-7 mos) and am a firm believer in its medium and long term potential. I also think 21.00+ is still a long term good deal and will continue to buy as I can afford.

[beauanderos]

I have been buying for seven years. I started at $4.50 and have been buying every year. It always feels as if it's a bit too costly, and it always goes higher (or the dollar lower). I will continue to buy with every worthless fiat dollar I have no matter how high it goes. You wait for dips, you may get lucky... then again, the price could just run away from you. Buy what's affordable, even if it's just $5 or $10 a month, but do it every month. No excuses. You'll be rich someday.

[Hawkeye]

Thanks for the advice. That is pretty much what I've been thinking. Basically, I buy all I can whenever I can. I do think the long term is going to be very good, and I will probably look back at this in 5 years and complain about not buying more when it was "only" around $21/oz.

No matter how high the price goes, I'm willing to gamble on silver (or gold/platinum) against FRNs any day of the week.

[BamaJoe]

Like beauanderos I jumped into silver at $4.50 with my first 1000 ounces (along with gold around $255). People told me it was overpriced and that I was making a stupid move. At $6 I was still buying and people still told me I was nuts, likewise at $8, $10, $12, etc. all the way up to the 40 ounces I bought just today (4 nice Wall Street 10 oz bars). I'll be buying every month in the foreseeable future at $22, $25, etc. as long as economic conditions continue heading the way they are. The only question you really have to ask yourself is "Do you think the goverment is suddenly going to stop printing and spending money that it doesn't have?". If you are like me and think they are just going to keep on keeping on then silver is cheap at today's price. I suck wind at tying to predict the day to day dips and upward moves, I just know in the long run it's going up so I buy whenever I have the cash in hand.

[Ardent Listener]

Anything can happen, but I don't see silver going below $17.00 anytime soon unless we go into another collapse of the stock market. In that case most people won't be buying it or won't be able to find it at a reasonable premium then.

[Verbane]

Buy what's affordable, even if it's just $5 or $10 a month, but do it every month. No excuses. You'll be rich someday.

Dollar Cost Averaging

I buy a fixed FRN amount every payday. I track every purchase in a spreadsheet. I calculated my cost per ounce last week and got $18.04 per ounce year to date(YTD). If i exclude the 1gram bars I purchased from one of our fellow Realcent refiners, my cost per ounce YTD is $17.93. if your small time like me, set a budget and stick to it, the results can be amazing.

[Hawkeye]

Buy what's affordable, even if it's just $5 or $10 a month, but do it every month. No excuses. You'll be rich someday.

Dollar Cost Averaging

I buy a fixed FRN amount every payday. I track every purchase in a spreadsheet. I calculated my cost per ounce last week and got $18.04 per ounce year to date(YTD). If i exclude the 1gram bars I purchased from one of our fellow Realcent refiners, my cost per ounce YTD is $17.93. if your small time like me, set a budget and stick to it, the results can be amazing.

That has been my plan and I've been doing fairly well with it. A little here and a little there starts to add up quickly. As long as my FRNs are backed by nothing but the "government's promise", I will be trading as many of them as I can for real money.

[JustSayNoToFiat]

you are risking several bucks to save maybe 50 cents imho.

Amen to that. I was waiting on it to dip lower when it was at 18.00 and stable....