Prepper Forum / Survivalist Forum banner

1 - 20 of 25 Posts

·
Registered
Joined
·
58 Posts
Discussion Starter #1
Everyone is complaining that the silver prices are falling down into an abyss.

Me, on the hand, I don't care.
I rather have 50 cents per ounce.

It sounds radical but it's more silver in my pocket! :)
 
  • Like
Reactions: Denton

·
Registered
Joined
·
1,820 Posts
There are an awful lot of specualtors sitting on an awful lot of silver right now who are feeling it. I'm amazed at how much over SPOT some are asking simply because that is what they have in it, lol.
 

·
Registered
Joined
·
154 Posts
Its either going up or down. If you are wanting to buy, then going down is a good thing. Then eventually it goes up. Metals are not really as much an investment as they are security against a failing dollar. My feeling is that what metals are doing right now is really not as important as what they will do after TSHTF.
 

·
Registered
Joined
·
4,373 Posts
My SHTF supply of silver is worth the same to me as it was 2 years ago at $45 an ounce....peace of mind that I have something to barter with in SHTF.
 

·
Registered
Joined
·
192 Posts
Silver may be going down but have you tried to find any. My dealer has been in the game 50 years and has never seen anything like this. The price is dropping and on one is selling. Its hit or miss if he will have any when I go in.
 

·
Registered
Joined
·
4,373 Posts
There is plenty on eBay and the sellers are reputable and the deals should be fine, but you won't get them for $1 or $2 over spot. Expect to pay $25/$26 there especially watch out for shipping charges. I prefer Craigslist still. Though I'm not buying any right now.

Silver may be going down but have you tried to find any. My dealer has been in the game 50 years and has never seen anything like this. The price is dropping and on one is selling. Its hit or miss if he will have any when I go in.
 

·
Banned
Joined
·
23,899 Posts
Silver may be going down but have you tried to find any. My dealer has been in the game 50 years and has never seen anything like this. The price is dropping and on one is selling. Its hit or miss if he will have any when I go in.
Folks aren't selling silver because they know it is going to head back up. The local shops suddenly had nothing to sell. That is to say, the bullion when into the safes so that they can come out on a better day.
 

·
Registered
Joined
·
58 Posts
Discussion Starter #11
There is plenty on eBay and the sellers are reputable and the deals should be fine, but you won't get them for $1 or $2 over spot. Expect to pay $25/$26 there especially watch out for shipping charges. I prefer Craigslist still. Though I'm not buying any right now.
How do you get silver bullion without getting scammed first?
 

·
Registered
Joined
·
1,508 Posts
I have some silver and gold that I bought back in the early 90's..I don't plan on getting any more though. Now, even though I have the silver and gold and intend on keeping it. I am now putting my money into other preps.. You can't eat gold and silver!!
 

·
Registered
Joined
·
4,373 Posts
In the last 3 years I purchased about $160 in face value silver, and almost all of it through Craigslist. The most I paid for some were dimes, which are preferential to me as a bartering token, and they cost me about 85% of the coinflation.com (or melt value) cost of silver. I last did this about 3 months ago I think and scored some dimes and quarters at 80%.

1) know your weights and remember the coins are likely to rub down a little and be a tad under weight - any coin "over weight" run away from. Just say thanks and walk away.

2) always meet in public, starbucks is good for something, and leave your cash in your car until you observe the coins and check the dates and weights. Depending on the people I am meeting I might weigh every coin or just a random batch.

3) As for eBay I go with reputable sellers and stick to reputable coins. Fact is the only coin I look for on eBay is the $20 Canadian maple leaf in silver - they are scarce (but not rare). Right now with silver at $20 an ounce or below these coins are demanding an $8 premium which I am not buying but remember this - Canadian Banks have to honor them to $20 in Canadian face value. Think about the original post here (OP) wanting $1.00 an ounce silver. Well at $20 if you score those coins for $25 or less you are risking $5 to own an ounce of silver - that's not bad.

How do you get silver bullion without getting scammed first?
 

·
Registered
Joined
·
2,608 Posts
Silver and Gold are both still over priced, as to the premium over spot, I spoke to my dealer in Lowell, he had 1 oz off bread bullion for 22.50 an ounce Wednesday. I believe you will see the spot take an additional 10 percent dip the next time you see a little better economic numbers come out, and then the margin will tighten up,

When it gets below 20 per ounce, I will start picking it up again weekly with a portion of my pay check.

I started purchasing in august of 2003 and sold out in January of 2010. you can look up the charts.

I have bought no gold or silver since January of 2010 as the margin over spot has been way over priced.

By low sell high,

The dooms dayer's should not invest in metal, YOU ARE TOO IMOTIONALLY DRIVEN TO BUY AND SELL LOGICALLY.

Remember folks when you resell you resell for dollars, you are not exchanging for necessities unless the SHTF or TEOTWAWKI you make up the new scary acronym.

Silver and gold will not buy necessities after (make up and fill in acronym) ass, ammo, and brute force, are the only things that will get you a fresh can of corn.
 

·
Registered
Joined
·
1,368 Posts
Silver and Gold are both still over priced, as to the premium over spot, I spoke to my dealer in Lowell, he had 1 oz off bread bullion for 22.50 an ounce Wednesday. I believe you will see the spot take an additional 10 percent dip the next time you see a little better economic numbers come out, and then the margin will tighten up,

When it gets below 20 per ounce, I will start picking it up again weekly with a portion of my pay check.

I started purchasing in august of 2003 and sold out in January of 2010. you can look up the charts.

I have bought no gold or silver since January of 2010 as the margin over spot has been way over priced.

By low sell high,

The dooms dayer's should not invest in metal, YOU ARE TOO IMOTIONALLY DRIVEN TO BUY AND SELL LOGICALLY.

Remember folks when you resell you resell for dollars, you are not exchanging for necessities unless the SHTF or TEOTWAWKI you make up the new scary acronym.

Silver and gold will not buy necessities after (make up and fill in acronym) ass, ammo, and brute force, are the only things that will get you a fresh can of corn.
In my opinion any non-government minted coin is only worth the spot price. Now how much discount to spot when selling or premium over spot is up to the market place. In my opinion the enthusiasm for gold and silver "stackers" have caused the retail price over spot to be excessive.

Of course I pay arguably a greater premium because I only buy pre-1964 US silver coins. My strategy is multi-generational. I hope to collect one coin of every year and mint mark of every silver coin only. My strategy has the advantage of a finite supply therefore time is on my side for value appreciation.

It is highly unlikely that there will be any value over spot for NGO-coins. Even government commemorative coins in general will will trade at spot.

I encourage you to start your children collecting nickels. They can do this by plucking nickels from circulation and bank rolls. Also buying silver proof sets as gifts is a good idea.
 

·
Registered
Joined
·
6,086 Posts
It is at or near $19.80 or thereabout now but the prices are being held up unnaturally by the futures market (bid prices).

The futures market also effects oil, gold, wheat and everything down to pork belly prices.
 

·
Premium Member
Joined
·
118 Posts
I have some silver and gold that I bought back in the early 90's..I don't plan on getting any more though. Now, even though I have the silver and gold and intend on keeping it. I am now putting my money into other preps.. You can't eat gold and silver!!
thats what I was thinking, ammo, soap, tp even are going to be better to barter with
 
1 - 20 of 25 Posts
Top