Buying opportunities?

[68Camaro]

Go to Kitco.com charting and look at the historical prices for Dec 2011, refresh your memory of the sequence that occurred then. No assurance that it will repeat, or repeat exactly, but if we are in a similar pattern, we may be only a week or two from a sudden bottom that lasts only momentarily. Let's hope it doesn't bottom overnight and be back up by the next day. The bulk of the last bottom was like that.

[jasmatk]

I bought some fractionals at a great price on that dip and hope to do the same with this dip.

[penny pretty]

I bought a 10 oz bar when it went under 30, now under 29??? eek! I told myself I will buy what I can afford under 30, but now it gets difficult.

[Rosco]

I bought last Week lucky ME

[Primus123]

Relax gentlemen, I invested $20,000 in PMs this year at near yearly highs. It may take 6 months or more but it'll come back around, probably by Nov 6

[SilverDragon72]

What goes up, will come down.....and then up again? Rinse and repeat!

PM's are a long term holding strategy for me.

[Oakair]

Im buying every weekend I can...Cant afford much, but gold has entered my range, now just gotta find it...

These prices will go lower I figure, but they will also go higher

[CtrlAltBernanke]

You know I can't help but think what I could have done with silver four years ago. Four years ago I stared to draw money from my GI Bill. If I would have spent every red cent of that money on silver and cashed it out when I graduated, I could of had enough money to pay off all my school loans and probably have plenty of silver left over. If I had more time, I would do the math and throw up a blog with the hard numbers. Maybe some day I will.

[SilverEye]

Prices this low won't last for long. I predict this is the final dip before the rise. I have to go find a shop that's selling over the weekend and load up.

[CU Baker]

[quote="SilverDragon72"]What goes up, will come down.....and then up again? Rinse and repeat![/quot

I keep trying to tell her that, gotta love those little blue pills.

[Cu Penny Hoarder]

Relax gentlemen, I invested $20,000 in PMs this year at near yearly highs. It may take 6 months or more but it'll come back around, probably by Nov 6

I wish more people had your calm/cool demeanor. I know a few who bought in the mid-40's who are nashing their teeth right now. Your patience will definitely be rewarded.

[Cu Penny Hoarder]

You know I can't help but think what I could have done with silver four years ago. Four years ago I stared to draw money from my GI Bill. If I would have spent every red cent of that money on silver and cashed it out when I graduated, I could of had enough money to pay off all my school loans and probably have plenty of silver left over. If I had more time, I would do the math and throw up a blog with the hard numbers. Maybe some day I will.

Coulda/woulda/shoulda. I have many of those.

Look at it another way... you can always be thankful you didn't buy at $49

[theo]

Relax gentlemen, I invested $20,000 in PMs this year at near yearly highs. It may take 6 months or more but it'll come back around, probably by Nov 6

I respect you for being honest about buying at higher prices. My most expensive buy was 37 (albeit BU) dimes for $150; about 40 Xs face. I also grabbed plenty of 90% at 30 to 32 Xs face. But as you said, no regrets. It will work out in the end.

[aloneibreak]

like they say -- count your stack in oz's not $'s

[Cu Penny Hoarder]

like they say -- count your stack in oz's not $'s

Very true. Still, most buyers still keep a mental record of the fiat amount they traded for those ounces. It's easy to feel burned when you paid $40/oz and the current price is $28/oz.

[reddirtcoins]

Still waiting .... I missed a bunch of the last one because I thought it would go lower.

[db23]

I am waiting for $26.xx!

[SoFa]

If it gets there, this will be the 4th time since early 2011 that it reaches 26/oz.
IMO, it's less likely to hold that level on each successive try.
But my best guess is that it does bounce up again, this time to the low/mid 30s.

[68Camaro]

I'm hanging on pushing the button - haven't yet. Processing data, but...

Keep in mind that, again using December as the example...

While silver (at least in some charts) technically touched 25.xx in at least one overnight trade, practically speaking for US physical markets was only under $26.50 for a few moments, and only under $27 for a few hours, and under $27.50 for less than a day.

So comparing now to December, we're close to a practical bottom for physical, if we're not already there.

Of course, world events trump charts. Can't predicting timing of those.

[theo]

There is a good chance I will stop at the lcs to see what is available. I was going to pick up a gold coin but now I'm not sure.

BTW I've heard it argued on this site, that the best way to assist in squeezing silver supply is to purchase new .999 ag coins as they come from new silver. It is also pointed out that since 90% and 40% coins already exist, buying them will have less of an impact. This argument fails to consider the fact that some of the "new supply" comes from the melting of existing silver, including 90% and 40% coins. I have the strong impression that most of the "Cash for Gold/Silver" operations sell their purchases to companies that melt, process and sell the metal on the open market.

Put another way; that 2012 SAE you are buying might have started life as a handful of 90% quarters and dimes.

[mflugher]

BTW I've heard it argued on this site, that the best way to assist in squeezing silver supply is to purchase new .999 ag coins as they come from new silver. It is also pointed out that since 90% and 40% coins already exist, buying them will have less of an impact. This argument fails to consider the fact that some of the "new supply" comes from the melting of existing silver, including 90% and 40% coins. I have the strong impression that most of the "Cash for Gold/Silver" operations sell their purchases to companies that melt, process and sell the metal on the open market.

Not mine, I've talked with my refiner, they say they only melt culls, all else gets bagged up and sold to a LCS or sold @ auction. I don't send any coins in, all american coins go into my personal horde or sold to close friends, ASEs, same story. Art rounds/bars, end up on KSA auctions here pretty often, or I trade them for other tings I want. However I did accidentally send in 130 oz of silver, a 50 oz bar and 80 rounds, but I think they were all art rounds. I'm sad because we lost money on that mistake, but I'm glad there were no ASE's in there. Otherwize no preminted and marked coinage/bullion has been melted in my store.

Am I typical? I like to think not, but honestly have no idea...

I do know the one jewelry store I know the owner of does not keep any coins, but he does send em to LCS instead. Since the refiners take pretty much an across the board cut of 10% on silver, its generally more profitable to sell coins as coins, jewelry however usually ends up melted.

[Mossy]

The dip in spot is probably people dumping paper due to the "emergencies", the euro and JPM. The talking heads say the price dip is due to the dollar gaining in strength. I don't see it, prices of everything else are still up. About the only two things the gov'ts want to see deflate in value are PMs and petro.

[68Camaro]

I have been known to argue against that point, as it isn't a one-to-one correlation, but with apologies to those I've argued against, in this case (and there have been some other instances) I think there is truth to it. A) Markets are falling. Some people are just bailing out on the drop, cutting losses. B) PMs are money. Some PM holders needing to cover margins are choosing to sell PMs to pay margin calls, etc.

So I'm watching the USD index - again. Not definitive, and it might be a bit of a lagging indicator, but I think it is related.

I did not press the button today. I think at this point the market is still looking for a better deal.

[BamaJoe]

I've been picking up stuff practically everyday for the past week. Ok, so it may not be the absolute bottom. Still happy with every one of the deals. When silver was at $6 I didn't sweat it out waiting in case it dropped back into the $5's, I just bought. I'm confident that before long I will look back at what I'm buying right now and the prices I paid and be very content.

[baggerman]

I've been picking up stuff practically everyday for the past week. Ok, so it may not be the absolute bottom. Still happy with every one of the deals. When silver was at $6 I didn't sweat it out waiting in case it dropped back into the $5's, I just bought. I'm confident that before long I will look back at what I'm buying right now and the prices I paid and be very content.

I have also been buying what I can afford and have been from $32 on down. I am very comfortable that within my time frame of wanting to sell (5-10 years) a couple of bucks won't make any difference. I missed the last dip "waiting for the bottom" so now I will just continue to average down. If it breaks below $26 I will likely make the largest one time purchase of my life.