Anyone Else Get Burned by the recent Price Drop?

[beauanderos]

http://cgi.ebay.com/ws/eBayISAPI.dll?Vi ... &viewitem= This would have been a half-decent winning bid had prices stayed level or continued upwards. Price quotes on eagles (obtained from goldshark.com) when I placed the bid were in the $44 range for 100 pieces. Ah well, a year from now I'll be smiling... and I really did need some prospectors

[rsk1963]

Alittle, bought some stuff that I thought was an incredible buy when silver was around 47, now it looks like a small loss. And in the long run yes, you'll be smiling pretty.... after all it is only a loss if you decide to sell right now.

[Rodebaugh]

paid 22 FRN for a nice VF morgan, $7.95 each for 3 Bens, $6 each for 7 pre 64 BU washingtons. Cleaned house at the local antique mall.

Now I am looking at 4 figure trimes on feebay.....go figure?

[beauanderos]

paid 22 FRN for a nice VF morgan, $7.95 each for 3 Bens, $6 each for 7 pre 64 BU washingtons. Cleaned house at the local antique mall.

Now I am looking at 4 figure trimes on feebay.....go figure?

Doc, Doc... I didn't know you were an arsonist. You really burned down that antique mall?

[NickelExpress]

Id like to get my hands on some prospectors too, although not for that price right now

[Rodebaugh]

paid 22 FRN for a nice VF morgan, $7.95 each for 3 Bens, $6 each for 7 pre 64 BU washingtons. Cleaned house at the local antique mall.

Now I am looking at 4 figure trimes on feebay.....go figure?

Doc, Doc... I didn't know you were an arsonist. You really burned down that antique mall?

Yeah the poor gal must be using last years blue book to price the darn things....they were new stock.

No worries on the prospectors.....you'll be fine on that one.

[andrewjackson]

Somewhat. I ran out when it dropped to $39. Paid $5 over spot on two rolls of ASEs. Also picked up some junk silver at spot. Looked tonight and its 35 and change. I'll be smiling when it hits $100

[fusscharles]

cost average is still in the high 20's.... but not for long ;-(

[Neckro]

Not really. I was able to get some Austrian's for 36.96 a round.

[Sheikh_yer_Bu'Tay]

Man, I am sitting pretty! I have not purchased any since $18.00 spot. My dollar cost average is less than $10.

I kept waiting for a correction at $30-32. We had just a little dip there on the way up, but not a real correction, so I stopped buying.

I am thinking this is now a seller's market. If you have it, someone will have to pay your price. "Spot" is irrelevant to real silver.

[Country]

Except for some interesting odds and ends and some foreign SILVER at a significant discount to spot, I stopped buying at $30. I'm not buying anything now. Once the volatility ends and these 10% intraday swings end, perhaps later in the summer, I'll put some CASH to work. I'm not selling anything, but SILVER right now could be $25 or $45 with these big daily swings. I'll just wait for now until we get back into a quiet accumulation period.

[blackrabbit]

I did get burned a little. I bought 10 oz of fractionals when the price dropped, but then it dropped a lot more. Overall I am fine though.

[97guns]

I GET BURNED WITH EVERY DIP!!!! because im constanly buying. i bought at $48 but then i bought at $38 and all the way down to $32, i was gonna make sure i bought at the bottom no matter how much it costed me to get there.

[brian0918]

I've decided to stick to buying silver at either $0.89 or $1.38 an ounce (plus time and gas).

[Luoganta]

Ah well, a year from now I'll be smiling

That right there is what keeps me buying.

[Know Common Cents]

I'm still buying but more in a stealth mode now as I'm doing the rummage sale and yard sale circuit. The weather here in the Midwest has just turned tolerable, so I'm trying to get those just awakening from a Winter's slumber and needing cash. I bought 3 sets of sterling cuff links last weekend for $1 each. Regardless of the POS, I just know I'm in the money on those. Estate sales not run by one of the fancy auction houses are the best. Most all of the departed geezers have some sort of coin collection or accumulated change in a jug. It's my civic duty to assist.

[VWBEAMER]

I bought 2 ten ounce bars when it was 49 an ounce....

But i also got a lot of stuff i bought at 6 an ounce and all the way up. I just keep buying, I'm not in for the short term, I'm holding until I think it's not going any higher or until I really need the money.

So it doesn't matter to me, this little dip is just a chance to add more.

[Thogey]

It actually worked great here.

I was forced to sell a few grand for TAXES and other business expenses (Ist quarter is always brutal)

Looks like I'm snapping it back up at a discount.

I know a guy who sold a bunch on 'that' Friday, he may or may not wish to reveal himself, but what a great move.

I am lookin forward to more deterioration and despair, feeling like I would really like a fire sale.

[Pennybug]

I saw it posted earlier...

"Bulls make money, Bears make money, and sheep get slaughtered"

How true!

I'm NOT a seller... unless I HAVE to be! I bought in for my 1st time in the upper $20's. I've continued to add along the way... but nothing that's burned me. I add a morgan or two (or ten) every week or two when I find good deals. So I'm buying on both sides of these swings. I'm planning on adding some more tubes of eagles if we dip back down into the $20's and I can FIND it at that! I'm with others on here that I don't think spot will mean much to "us" collectors/hoarders/physical investors for much longer. Spot has been down to near $30 and I'll bet NO ONE could find an Eagle for under $40 when it was. I HOPE that changes soon! If so... that's when I'll make a move.

Where I did get burned is when I didn't buy a monster box back in '05 when I had the opportunity and REALLY THOUGHT HARD about doing that! I think of that EVERY DANG time I look at these stupid charts and when I go to price a stupid roll of eagles! STUPID STUPID STUPID!!!!! Oh well... At least I still have that cash in an IRA drawing 5%. WOOO.... look at it go! I guess it beats partying it away like most of my friends did.

[Sheikh_yer_Bu'Tay]

I GET BURNED WITH EVERY DIP!!!! because im constanly buying. i bought at $48 but then i bought at $38 and all the way down to $32, i was gonna make sure i bought at the bottom no matter how much it costed me to get there.

Uhm, no you don't. Unless you buy into the mind games being played right now. This is an ENGINEERED CORRECTION, IMHO. The governments and central banks of the world read the hand-writing on the wall. They are trying to suppress the market to save their own asses!!! To me, this is a clear sign that fiat money is in it's last death rattle.

What has changed about silver? Nothing. Nothing, that is, except the rules for "spot" markets. Once again, the government changed the rules in their own favor to save the "too big to fail".

Stand fast! Hold your silver tight! BUY!

Now, my opinion may be just another plop of "pooky-moo", but you gotta admit... it's entertaining, eh?

[DeanStockwell]

Just loaded up on 15 1000 ouncer's from apmex for $1.75 over spot, $3655 per. Watch us fall down to $20, now.

[Sheikh_yer_Bu'Tay]

Just loaded up on 15 1000 ouncer's from apmex for $1.75 over spot, $3655 per. Watch us fall down to $20, now.

100 ozt bars?

[Market Harmony]

I stopped counting in dollar figures a while back, so I look at things a bit differently than most. I count in ounces. In every flip I try to make some more ounces. So, I don't ever really lose anything except some purchasing power. Burned? no. Was I buying in the 40's... you better believe it. But, I was also selling in the 40's too.

I'm buying today, too. My sales will drop off a little, though, as I don't have another trade show for 3 weeks. GO SILVER!

[hejira11]

It was more of a "P.R." nightmare for me. I got nearly 30 sarcastic Emails from friends copying me on the articles about the price dropping. I don't have the time or energy to address them all. The tree was definelty shaken and the under-informed got out. At least in my estimation. I am still bullish long term... as long as the fundamentals do not change.

[brian0918]

It was more of a "P.R." nightmare for me. I got nearly 30 sarcastic Emails from friends copying me on the articles about the price dropping. I don't have the time or energy to address them all. The tree was definelty shaken and the under-informed got out. At least in my estimation. I am still bullish long term... as long as the fundamentals do not change.

I had that as well, both from people who are skeptical of precious metals, as well as people who were thinking about buying some or buying more. You can definitely tell who's not in it for the long-haul, and looking to flip it like a house in 2006.