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So much for "buying on the dip"

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So much for "buying on the dip"

Postby pennypicker » Wed Aug 26, 2015 1:20 pm

Last week I had my eye on three silver items at APMEX when silver was $14.60 but I held off and decided to wait for an anticipated dip.

This morning the dip arrived and with silver at $14.01 I go to APMEX and all three items were HIGHER than they were last week with silver .59 cents higher--so much for buying on the dip :?
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Re: So much for "buying on the dip"

Postby silverflake » Wed Aug 26, 2015 1:22 pm

Is this the unofficial 'paper/physical' disconnect? Certainly seems it.

Crazy stuff friends.
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Re: So much for "buying on the dip"

Postby Cu Penny Hoarder » Wed Aug 26, 2015 8:59 pm

$7.49 over spot for 90%?

Insane.
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Re: So much for "buying on the dip"

Postby InfleXion » Thu Aug 27, 2015 2:08 am

I was going to buy some palladium but it sold out! The silver I'm eyeing is still available for about 40 cents less. Not a big enough dip for me to justify pulling the trigger just yet. Although I have been to the coin shop twice in a week for a couple ounces here and there. 3 old libertads, 2 eagles, a couple old brits, all in the 3-4 over spot range for a nick or scratch or milk spot. Slim pickings and anything semi-numismatic way overpriced. They had a roll of buffalos at $2.25 over spot but spot was $14.90 at the time so I passed.
Silver: the Rodney Dangerfield of precious metals.

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Re: So much for "buying on the dip"

Postby Cu Penny Hoarder » Thu Aug 27, 2015 6:29 am

InfleXion wrote:I was going to buy some palladium but it sold out! The silver I'm eyeing is still available for about 40 cents less. Not a big enough dip for me to justify pulling the trigger just yet. Although I have been to the coin shop twice in a week for a couple ounces here and there. 3 old libertads, 2 eagles, a couple old brits, all in the 3-4 over spot range for a nick or scratch or milk spot. Slim pickings and anything semi-numismatic way overpriced. They had a roll of buffalos at $2.25 over spot but spot was $14.90 at the time so I passed.


When bullion dealers raise the premiums, LCS is probably a better bet. Last week I bought 100 AU Morgan dollars (not one 1921) for $17 each.
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Re: So much for "buying on the dip"

Postby pennypicker » Thu Aug 27, 2015 8:57 am

Cu Penny Hoarder wrote:When bullion dealers raise the premiums, LCS is probably a better bet. Last week I bought 100 AU Morgan dollars (not one 1921) for $17 each.

Wow, that's what I call buying on the dip--great pick up!!!
"If I had to pick one player to take the last shot to win the game I would pick Michael Jordan...if I had to pick one player to take the last shot to save my life I would pick Larry Bird"--PAT RILEY, L.A. Lakers Head Coach

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Re: So much for "buying on the dip"

Postby mrrosado » Thu Aug 27, 2015 10:20 am

Buy the dip here like me!
I like collecting Gold and Silver. I prefer the Silver stuff. God Bless You.

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Re: So much for "buying on the dip"

Postby johnbrickner » Thu Aug 27, 2015 10:46 am

May I suggest "Buying the Dip" with the current Group Buy over at BullionStacker run by Chris: http://www.bullionstacker.com/viewtopic ... 27&t=22235
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Re: So much for "buying on the dip"

Postby InfleXion » Thu Aug 27, 2015 1:42 pm

pennypicker wrote:
Cu Penny Hoarder wrote:When bullion dealers raise the premiums, LCS is probably a better bet. Last week I bought 100 AU Morgan dollars (not one 1921) for $17 each.

Wow, that's what I call buying on the dip--great pick up!!!

Dang I would have jumped all over that. My coin shop was charging $27 for AUs and they didn't even look that good. I've been wanting Morgans lately too :idea:
Silver: the Rodney Dangerfield of precious metals.

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Re: So much for "buying on the dip"

Postby Cu Penny Hoarder » Thu Aug 27, 2015 5:49 pm

pennypicker wrote:
Cu Penny Hoarder wrote:When bullion dealers raise the premiums, LCS is probably a better bet. Last week I bought 100 AU Morgan dollars (not one 1921) for $17 each.

Wow, that's what I call buying on the dip--great pick up!!!


A lot of these brick and mortar LCS's are getting desperate. If you have a lot of dry powder, go into your local LCS with a pile green rectangles and make them a fair offer... about 50% of the time they'll take you up on your offer.
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Re: So much for "buying on the dip"

Postby silverstacker » Thu Aug 27, 2015 9:51 pm

InfleXion wrote:
pennypicker wrote:
Cu Penny Hoarder wrote:When bullion dealers raise the premiums, LCS is probably a better bet. Last week I bought 100 AU Morgan dollars (not one 1921) for $17 each.

Wow, that's what I call buying on the dip--great pick up!!!

Dang I would have jumped all over that. My coin shop was charging $27 for AUs and they didn't even look that good. I've been wanting Morgans lately too :idea:


Yes, that is an impressive pick up. Nice score :thumbup:
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