Ohhhhhhhh. i WANT to buy MORE silver, but...

[neilgin1]

I wonder if anybody else is facing this dilemma ........man o man, I WANT to buy more silver!!!

i'm watching now as the common dates for 90% Silver American coinage are trading right at 18-19 times face in rolls of $10....and that's for the BU rolls.

and I see a lot of 10 toz bars trading with only a small premium, I see rolls of ASES trading $550 tops......and here's my problem:

I DO have the credit to buy, BUT...I don't know, something has me holding back, because I feel this need to engage in deficit reduction, that is to PAY OFF the credit. I don't feel comfortable accumulating MORE credit debt......do you think that's screwed up?

lets say we do get into some weirdness, like a "bank holiday"...or a liquidity crisis...OR a dollar collapse, so wouldn't that mean a credit line would be the last thing we have to worry about?.....and when I think like that, "maxing out" a credit line isn't the end of the world.

no. my gut instinct tells me to pay off credit debt......what do any of you guys think?

pay it off, right?....i'm standing good, got a nice stack, so why the worry?

Just throwing it out there.

[beauanderos]

isn't that just human nature? To want just a little bit more?

although I'd like to find some completed BU roll auctions at 18X or 19X... I think you're smokin banana peels or sumting

[neilgin1]

isn't that just human nature? To want just a little bit more?

although I'd like to find some completed BU roll auctions at 18X or 19X... I think you're smokin banana peels or sumting

Ray, I JUST deleted...ummmm...I think, about 4 ended auctions of 63 and 64 Washingtons...BU's that went for $185....for real. no joke, no smoke-smoke......$185...I couldn't believe it!....but they were there...lemme go look in my history and see if I can pull them up.

cant find 'em...tried to go offline, and see, but no tickee...trust me.....$185.....they were there....but the spooky thing is this....I check rolls by newly listed..ok?.....and yesterday, the 16th....nobody was listing any silver rolls.....so far. lemme look further, but the recent pickings are slim.

[shinnosuke]

Get out of debt, neil, and everyone else. Debtors prisons are back and they will get bigger. It is very liberating to be debt free.

[neilgin1]

Get out of debt, neil, and everyone else. Debtors prisons are back and they will get bigger. It is very liberating to be debt free.

no, your right...that said, i'm not in any sort of crazy debt to begin with...in fact the only reason I used cc's for internet commerce is because I don't want my main account databased in ANY e-commerce platform.

[Engineer]

Do you want those rolls bad enough to cash in bricks of nickels?

[theo]

First, I think taking on more debt to buy silver is too risky.

The the question as to whether you use your excess funds to pay down your debt or buy silver/gold is a little more difficult. However you seem to be concerned about your debt level and are relatively content with your stack. Therefore, pairing down that debt sounds reasonable.

Having said that try to shake loose $100 here and there to buy a few ounces so you don't feel you are completely missing the boat. Perhaps you could sell something that you don't need to raise the funds. An example; I had a few boxes of AU zinc pennies I thought might be worth something someday, but when silver came down I dumped them at the bank to increase my buying ability.

[beauanderos]

wacky tabackee it is! Confirmed. I looked at completed BU listings of silver roll coins on ebay for the past week (at least the dimes and quarters). None of them match your description. There were a couple rolls of Canadian... that no one met the opening bid of $190. There were two rolls of BU dimes that went at 20X face... but they weren't BU looking at the pics. There was one roll of BU 1964 quarters that had non BU Kennedy halves pictured.

True gem choice BU rolls still seem to be going at least mid to high 22X.

[wheeler_dealer]

We all know taking on debt to buy luxury items, consumer junk is not prudent. Using debt to purchase silver could be dangerous if you can't service the debt. I am shuffling the deck chairs. I recently sold 7 bricks of nickels to buy silver. I am using my cards to pay for everything I NEED. Keeping my cash free to grab deals on the dip. Yes I might have to pay interest, however, my cash is converted to liability free silver. I have a cash buffer to service debt and worst case I have to resell the silver if I get in trouble. Mean time I sort the stockpile of pennies and nickels to make payments and keep debt manageable.

[silverflake]

Neilgin1, take some small bites. I would love to buy a lot of silver everyday. But, I, like you, have to control myself. Still pounding away at the mortgage. So, baby bites. I went to the pawn shop today, they didn't have much. I saw 2 rolls of circulated pre-65 Rosies. Asked him how much? He said "$125". My jaw dropped. Figured I was out of luck. I offered $90. He looked at me, paced a minute and said "$100". I bought one. With VA sales tax it was $105. I looked in my wallet, I had $106 in my wallet and 85 cents in my pocket. So, I have a buck-eighty-five to make until Friday. And yet I feel all warm and fuzzy inside. Baby steps, baby bites. Ease the craving.

[theo]

Neilgin1, take some small bites. I would love to buy a lot of silver everyday. But, I, like you, have to control myself. Still pounding away at the mortgage. So, baby bites. I went to the pawn shop today, they didn't have much. I saw 2 rolls of circulated pre-65 Rosies. Asked him how much? He said "$125". My jaw dropped. Figured I was out of luck. I offered $90. He looked at me, paced a minute and said "$100". I bought one. With VA sales tax it was $105. I looked in my wallet, I had $106 in my wallet and 85 cents in my pocket. So, I have a buck-eighty-five to make until Friday. And yet I feel all warm and fuzzy inside. Baby steps, baby bites. Ease the craving.

I usually buy once a month, but I had an unplanned purchase last week. My wife and I were spending the day in Gettysburg, Pa when I stumbled upon this little coin shop on Baltimore St. Their prices were better than expected so I picked up a few Sunshine rounds and an ASE. That is pretty much how I've stacked. . .an ounce here two ounces there. I've made exactly two purchases over $500. I suppose I should thank the Fed and the bullion banks for giving all this time.

[neilgin1]

all wise counsel....thank you guys.

[HoardCopperByTheTon]

Silver could go up.. or it could go down.. what does your crystal ball tell you? So you are thinking about borrowing money to gamble in a speculative market. Hmmm.. so you need the market to increase how much for you to break even?

There are 3 kinds of people in this world.. the Haves.. the Have Nots.. and the Have Not Paid for what they Haves.. the "Credit Card" people.

Sure, go ahead and buy.. lot of folks operate on the "Vacuum Theory of Finance." If you want something.. buy it.. the need to make those payments will somehow suck those funds into existence.

[beauanderos]

If you want something.. buy it.. the need to make those payments will somehow suck those funds into existence.

+1 I can relate to this! I have always stretched to buy as much as I could... and somehow keep finding ways to pay off what I acquire.

[jacer333]

Well if you are trying your hardest to avoid adding to the stack, APMEX isn't helping much...they are offering 2013 ASE's at 2.59 over spot for any quantity.

I'm afraid I might be seeing an order confirmation for a roll before the day is over

[BamaJoe]

Man I do feel your pain. I'm picking up what I can, but the temptation is always there with the cards. Still, I'm an avid NO debt type of guy. Yes, I know some here would make the argument that there is such thing as "good debt" I don't buy it. When the Bible says that the debtor is the slave to the creditor and owe no man I tend to take that as stated. How some would sell themselves and their families into slavery for pm's for even worse for cars, tvs, vacations, etc. is totally beyond me. Besides I sleep really well at night knowing what is mine is indeed mine and I don't owe anyone.

Stick with your guts. Buy as much as you can actually PAY for.

[everything]

Pay off the credit debt and wait. I want to buy too, and usually can't go a month without adding something.

[johnbrickner]

Don't do it!

Pay off all your debt and axe all the cards you don't need. As of December of last year, I am totally debt free. No CCs, no mortgage, no 2nd mortgage, no student loan, no car payment, no nothing, nada, nil, nix, squat!

The feeling of FREEDOM you get when totally debt-free can't get expressed by the words I write here. The stack feels like security but, so does debt-free. Diversify your security add debt-free to it.

Do I wanna buy more silver . . . practically all the time. But, from here on out it's cash on the line as is in line with the budget. Period. New paragraph.

It's a jungle out there,

[silverflake]

bamajoe,everything,johnbrickner you are right on brothers! I have everything paid except the mortgage right now. Feel good but that mortgage overhang is the last chain around my ankle. Wife and I are throwing every last extra zinc penny we can scrape together at it. Looks like 6 years it'll be gone (I will only be 50 years old!). But in the meantime, I still scrape together enough monthly spare change to feed the silver craving. It can be done. Written, strict budget.

Keep stacking gang.

[neilgin1]

dang! I love this forum!