Sorry but we are the exact opposite. Need it to spike to get out, taking a mother effen bath on a very large amount.Quote:
Originally Posted by roberth
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Sorry but we are the exact opposite. Need it to spike to get out, taking a mother effen bath on a very large amount.Quote:
Originally Posted by roberth
As someone who see what $'s the gold and silver mines here in CO are investing in production, I'm buying.
Coal on the other hand is scared as hell...
Is your point that they are producing more or less?Quote:
Originally Posted by <MADDOG>
I'm underwater too but I'm used to it, sometimes I think I'd be better off spending my money renting an apartment, going out to dinner every night, and getting a new car every year.Quote:
Originally Posted by Rooskibar03
Just remember the .gov is printing $85 billion every month to keep the economy afloat. It is called "quantative easing". Really just another ponzi scheme. The value of the US dollar will suffer in the end. I always think of the World War 2 US soldier in Holland that bought a hotel for a $20 dollar gold piece. In 1960 a silver dollar could be had for one dollar bill, but not today!
What are you seeing? If I may ask.....Quote:
Originally Posted by <MADDOG>
I was at the Cresson project in Victor yesterday. Some serious building going on and about a mile of road has been rerouted. It is owned by Anglo Ashanti. I have heard that they found ore so rich it will be sorted by hand the way they did it a 100 years ago.
http://en.wikipedia.org/wiki/Cripple...ctor_Gold_Mine
Silver mines in the Ourey area are investing millions into the mines there. They seem convinced that silver is going to skyrocket in price. Rumor has it the Star mine at the old Revenue mine has invested over 200 million already in that mine. I've been delivering material for the last year up there and it's not hard to believe.
Glad to hear this! My SLW shares haven't been doing well the last year, time for a change.
I stopped calculating how much down I was after 10 or 12% on my physical bullion, simply because it doesn't matter much for my intentions... The whole reason why I bought any at the prices it has been these past 3-4 years is because I wanted insurance and diversification from the USD. That still stands true today at these lower prices, so I continue to buy a little at a time and let dollar cost averaging do its thing. I never do anything "all at once", so the idea of "getting out" is not even under consideration. I will keep my bullion until I retire and am forced to liquidate because I'm broke, or I'll leave it my heir(s). If it spikes, I will sell the portion necessary to get my money back, and maybe a portion beyond that based on profit margins, but never all of it...
Personally, I will continue to buy a few ounces here and there as discretionary $ allows...especially as the price drops. If time proves that I "over spent", well dang, I made a poor investment time-wise, but I still own it and have at least that little bit of security that I didn't have before...
Well put sawin. I agree.
^This. As mentioned in the other 'precious metals thread', we all have our different reasons for 'investing' in PM... My reasons are close to what you stated.Quote:
Originally Posted by Sawin
I'm glad to hear that local mines are 'busy'!
What are the stock trading names of some of these other places?Quote:
Originally Posted by rondog
Quote:
Originally Posted by Sawin
Quote:
Originally Posted by hghclsswhitetrsh
Sawin is right on! Terrific post.
Remember, if you don't physically hold it, you do not own it.
I'm glad those mines are getting busier too.Quote:
Originally Posted by sellersm
Surprised no one mentioned APMEX as a source. It's the PM exchange Ann Barnhardt recommends -- whether or not you're a fan of hers, their prices seem pretty competitive.
Example: 2013 American Silver Eagles (1 oz), price as of Oct 14, 10:36 MDT
APMEX: 1-19 @ $25.96, 20-99 @$25.46, $50 min
Kitco: 1-99 @ $25.07, $2500 min to ship
Northwest Territoritorial: 60-119@$25.48, 60 oz min
JH: @$25.49, $1500 min
Check out Westminster, Provident Metals, Silver Towne as well. They're very competitive as well, depending on what you're buying (and when).
Just go through ebay for small amount from apmex, mmc etc. sometimes they have cheaper or free shipping. Under $500, buy locally to avoid shipping. I can get $3-5 over spot locally.Quote:
Originally Posted by Aloha_Shooter
There's also http://www.gainesvillecoins.com/
When SilverTowne has their free shipping deals, or Provident Metals, I've been able to get items for less than local prices! In the Springs, I shop at Hallenbeck since Dave closed his store (CO precious metal & coin, or whatever it was called). Dave's assistant, Jan, now works for Hallenbeck.
Go to Kitco.com for great info about all aspects of precious metals and their stocks, also stockcharts.com is a good place to track them.Quote:
Originally Posted by sellersm
I usually buy online from APMEX and sell locally at Colorado Coin Galleries on Maizeland Rd at Academy Blvd in Colorado Springs.Quote:
Originally Posted by sellersm
I'll have to check out Hallenbeck.
Contact or address for Hallenback? In the Springs and my daughter wants to start in silver.
Thanks
Roger
Quote:
Originally Posted by sellersm
https://www.hallenbeckcoingallery.com/Quote:
Originally Posted by Roger Ronas
I'm picking up some of these - http://www.providentmetals.com/zombu...ver-round.html
Should be a fun conversation piece and will probably get some additional appreciation over spot on ebay from people trying to complete the set down the road.
hahaha those are pretty cool for the zombie fans among us.Quote:
Originally Posted by th3w01f
Yah they are!Quote:
Originally Posted by Sawin
I like Provident for their prices and low shipping. Here's a good link to compare prices live and it lists the shipping.
https://comparesilverprices.com/
Does anyone have an opinion of
http://www.eriegoldandsilver.com/
? Been thinking of checking them out.
damnit, i was trying to hold out but had to order some, btw there's 2 styles out http://www.providentmetals.com/bulli...?ref=slideshow got to get em all now that silver shield silver bullet went down the crapper with their designs.Quote:
Originally Posted by th3w01f
And my favorite by far is the kilo coins perth puts out.
http://www.youtube.com/watch?v=5DTjahg-5Q4
I've been to Erie Gold and Coin twice, both times in early Spring of this year. I bought a bunch of random 1 oz silver "Christmas Rounds" that they had just taken in for a fair price. Most of their collection at the time was coinage that I was not looking for, so I didn't pay it any attention. I went straight for bullion and junk silver, and their selection was low. It's at least worth calling them or dropping by to see what they have. The two gents seemed like nice guys both times I went in.Quote:
Originally Posted by jason303
Chinese buying silver... BLAH! They aren't real Chinese. ;)
I have bought at Erie Gold and Coin a couple of times. There prices were hit and miss, sometimes they were very close to spot, other times too far above for me. The main issue I had was that I allocated X number of dollars to spend on silver, but they never had enough on hand for me to buy all that I was looking for.
They are worth giving a call to see what they have on hand and their price. From my experience, they are nice guys, and treat you fair.
I'm sorry, but I am not understanding all of this. You say locally, you can buy $3-5 over spot price. You pay 10-20% more (at $25/oz) than what it is worth, but when you want to sell it, you take a 10% hit. So what I am reading is you need a minimum of 30% increase just so you can break even. I have some silver, maybe 20oz, but all has been bought from individuals at spot price. I guess I am hopeful it will go up, but when you are 30% behind when you start, it makes a person wonder.
There will come a time, within my lifetime, in which no amount of dollars will buy one ounce of the silver I hold.Quote:
Originally Posted by encorehunter
The silver I bought in 2006 for $4 is now worth over 500% what I paid for it. As the mortgage meltdown approached it kept climbing and peaked near $50 an ounce. I have some silver I paid $30 for. Truth is I bought something I hope I never have to use. So yes, some of my silver is worth 30% less than I paid, but I can almost guarantee you that 10 years from now, I will be way ahead financially. It is not something I bought planning to sell next week. And as for trading for real goods, I see all the time "will trade for precious metals".
Attachment 35125
That's the retail scam of precious metals. The buyer is losing 25% to 30% of their investment before they get to see tomorrow's price that may go up or down.Quote:
Originally Posted by encorehunter
This is what I am talking about. I don't mind investing in silver, but why do I have to be the 25-30% behind before I even start. I think you are right, it is a scam.Quote:
Originally Posted by kidicarus13
i understand where you're coming from.
For instance, spot is 21, the markup is 5.50 for 26.50 and then add 10% sales tax for a grand total of 29.15
I think spot will go above 30, I just don't know when.
No, it's not a scam any more than the grocery store is a scam, Home Depot, the car dealer, the gun shop, or the farmer with a vegetable stand is a scam - buy any of those items today and try to sell them tomorrow for exactly what you paid for them today. You don't get to buy other retail things at wholesale, why should PM's be different: the dealers have lights to keep on and space to rent, if they sell it to you at $20, and buy it back from you at $20, how are they supposed to keep the store open?Quote:
Originally Posted by encorehunter
If you bought a case (5,000rds) of .22 ammo in January of 2012 for $200, you couldn't sell it back to the vendor the next day for $200. However, if you saved that case until January of 2013, you could have very easily sold it for $600. Now, would buying a case for $200 that I couldn't flip the next day for $200 be a scam? or would waiting 12 months and flipping it for 3X what I paid simply be construed as gouging?
ding ding ding [Beer]Quote:
Originally Posted by hatidua
Like I've said before, and some of you already get it, I'm buying physical PM's along with useful goods and learning practical skills, as an insurance policy... all of this could turn out to be a positive investment at some point in my life, or it could turn out to be a bad one, but either way, I have at least some form of "wealth security" beyond the dollars in my bank... that's all it is.
If you bought an ounce of silver for $25 this week, would you miss the $25? Would your budget suffer? If so, don't buy it... if you wouldn't miss it and still eat well, and would spend that $25 on something else with zero tangible value, then I would ask "why not?".
LOL. Silver like your mortgaged house are not investment. All appreciating items are leverage against the USD. A great example was during the melt down... gas price was skyrocketing.. Your USD dropped in value. Meanwhile I used a monster box of American eagle to purchase one of the rental condos. (2009 a box of silver was $4750.. Post melt down was $23000.)Quote:
Originally Posted by encorehunter
Now the clear and free condo is my own lil money printing machine which returned my initial cost of $4750 within 10 months. :)
Hatidua explained it very well on the mark up part.