# Silver and Gold down in the buy range?



## A Watchman (Sep 14, 2015)

Silver is down to $14.30 and Gold $1104.00 this AM. Still hard to evaluate with the dollar artificially propped up in value.


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## PatriotFlamethrower (Jan 10, 2015)

BUY! BUY! BUY!

What are you waiting for?


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## sideKahr (Oct 15, 2014)

Silver has not yet dropped to the price that I STOPPED buying at during the last runup. Patience.


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## A Watchman (Sep 14, 2015)

The US and Canadian mints are having a time keeping up with the current run on the demand. Several of the sources I monitor, have lengthy wait lists on orders in recent weeks, for popular stock. At some point the supply could metered out to a select few. This would limit the value for an economic prepper storing up an alternative reserve currency option.


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## sideKahr (Oct 15, 2014)

A Watchman said:


> The US and Canadian mints are having a time keeping up with the current run on the demand. Several of the sources I monitor, have lengthy wait lists on orders in recent weeks, for popular stock. *At some point the supply could metered out to a select few.* This would limit the value for an economic prepper storing up an alternative reserve currency option.


We couldn't be this lucky.

Seriously, there is too much silver left in the ground for an extended shortage. Gold may be a different story. IMHO.


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## dsdmmat (Nov 9, 2012)

A Watchman said:


> The US and Canadian mints are having a time keeping up with the current run on the demand. Several of the sources I monitor, have lengthy wait lists on orders in recent weeks, for popular stock. At some point the supply could metered out to a select few. This would limit the value for an economic prepper storing up an alternative reserve currency option.


My take on PMs is: they are a way to preserve your wealth and will only be of use during the recovery after the SHTF. You can't eat or shoot PMs so they will only be worth what someone is willing to trade for them. I have some PMs but, not a lot. I bought most of it because I thought the coins were cool (10 DM coins and the like). Unless you already have your food, water, shelter and protection plans rock solid I wouldn't put too much into PMs. If you got your bases covered treat PMs like the money in your pocket when going to the casino, "It is all gone" and if for some reason you walk out with anything of value in your pocket it is a good day.


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## sideKahr (Oct 15, 2014)

dsdmmat said:


> *My take on PMs is: they are a way to preserve your wealth and will only be of use during the recovery after the SHTF.* You can't eat or shoot PMs so they will only be worth what someone is willing to trade for them. I have some PMs but, not a lot. I bought most of it because I thought the coins were cool (10 DM coins and the like). Unless you already have your food, water, shelter and protection plans rock solid I wouldn't put too much into PMs. If you got your bases covered treat PMs like the money in your pocket when going to the casino, "It is all gone" and if for some reason you walk out with anything of value in your pocket it is a good day.


You're right, I think, but as long as the S doesn't hit the F, what's wrong with using the corrupt system to skim some FRNs and turn them into more preps?


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## dsdmmat (Nov 9, 2012)

sideKahr said:


> You're right, I think, but as long as the S doesn't hit the F, what's wrong with using the corrupt system to skim some FRNs and turn them into more preps?


Not a thing, I just think some people look at PMs and think, "when the SHTF I can use this to trade for food, gas and clothes (just like before SHTF)." I find that mentality to be common in new preppers and one that could lead them to disaster. Which is why I tend to caution people the way I do.


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## Hawaii Volcano Squad (Sep 25, 2013)

Silver looks like it has formed a triple bottom near $14.
Yet, anything could still happen.


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## sideKahr (Oct 15, 2014)

Hawaii Volcano Squad said:


> Silver looks like it has formed a triple bottom near $14.
> Yet, anything could still happen.


I agree, anything could happen. I stopped using chart analysis on the PMs years ago. The markets are too heavily manipulated.


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## dsdmmat (Nov 9, 2012)

sideKahr said:


> I agree, anything could happen. I stopped using chart analysis on the PMs years ago. The markets are too heavily manipulated.


I bought quite a bit of sterling silver when I was making jewelrey at 6 bucks an ounce. I was poor so I couldn't afford to make stuff out of gold.


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## sideKahr (Oct 15, 2014)

I've got you by a little. I still hold some at 4 1/2.


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## A Watchman (Sep 14, 2015)

dsdmmat said:


> My take on PMs is: they are a way to preserve your wealth and will only be of use during the recovery after the SHTF. You can't eat or shoot PMs so they will only be worth what someone is willing to trade for them. I have some PMs but, not a lot. I bought most of it because I thought the coins were cool (10 DM coins and the like). Unless you already have your food, water, shelter and protection plans rock solid I wouldn't put too much into PMs. If you got your bases covered treat PMs like the money in your pocket when going to the casino, "It is all gone" and if for some reason you walk out with anything of value in your pocket it is a good day.


I agree fully, even though I buy occasionally it is selective and at lows..... however, it is and was secondary to building my real bartering and valuable items......as mentioned here numerous times before your priority should be food, water, and other life sustain necessities. I have months worth of food stores etc..... but my real bartering stock pile is ammo, booze, lighters, tobacco, medicine and associated things the unprepared and panicking folks will want FIRST. I will be open for business at just the right time. THese things might even buy something more valuable....you and yours life.


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## A Watchman (Sep 14, 2015)

My bad. I completely forgot in my haste to mention two of my most abundant and important bartering items...... but caution must be used. Thousands of rounds of ammo and as a last resort a firearm stockpile.


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## Ripon (Dec 22, 2012)

In January I started buying. Now I buy every month. It's the same amount each and every month. It doesn't matter what the price point is and I don't have to worry about it. The price per ounce just determines how many ounces. I set aside a sum of the budget to buy gold twice a year or maybe 3x if it gets cheaper. It's part of my next decade retirement. Best part is ill sell it here and ther next decade and have money that won't be taxed.


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## beach23bum (Jan 27, 2015)

to get the silver in your hand, it's still 3 to 4 dollars over spot. Don't understand why


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## dsdmmat (Nov 9, 2012)

beach23bum said:


> to get the silver in your hand, it's still 3 to 4 dollars over spot. Don't understand why


Middle man has to earn a living too.


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## A Watchman (Sep 14, 2015)

A while back MM posted a link to the Canadian mint for a collectors coin with superman on it, low silver contact but he liked the $15 US for a $20 Canadian deal. I wasn't as impressed. I found the same coin available through the several US dealers I watch.....oops there's that word again.... and they wanted $20 US for the same coin. Yep, must be the middle man in the mix.


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## 8301 (Nov 29, 2014)

dsdmmat said:


> Middle man has to earn a living too.


Not the mention he cost of minting the coins assuming you purchase coins instead of rough bars.


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## Hawaii Volcano Squad (Sep 25, 2013)

*99 cents over spot*



beach23bum said:


> to get the silver in your hand, it's still 3 to 4 dollars over spot. Don't understand why


This week, It's 99 cents over spot if you buy a one kilo bar from JM Bullion.

If price drops to $14 again I may actually buy a bar...


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## Ripon (Dec 22, 2012)

Mint currency coins like the Eagle and Maple Leaf are getting a $3 min mark up and more if you only bought one to five coins. As noted a store, utility, insurance, security, and even postage for online services are not free. 

I'll repeat a story from some 25+ years ago when a fool learned his lesson. You see this young police officer would get a pay check every two weeks. He'd take it too the bank, deposit it and pull out $50 cash. He would take the $50 and go to a local retailer who sold Canadian silver maple leafs. Spot was about $5 but the dealer charged $6. So the cop bought 5 for $30 plus tax and set aside the rest for the next pay day. After a few months he had a about $110 and thought for sure he could get a deal buying 20, but the dealer wouldn't give. He bought 15 for 90 and stewed. He couldn't find any other dealers then....no internet and not a big town. 

A year goes buy. The young officer accumulated 200 plus ounces. The next year 300 ounces. Still no break. Some time in the third year, after another 200 ounces were bought he got fed up with that dollar per coin premium, and no breaks on large buys so he stopped. 

5 years ago when the now older, wiser and completely unemployed and business world spanked failure had his personal SHTF he was glad to have 700 ounces of silver going at $40+ an ounce. In fact that price was so good it only took 200 ounces to buy a used tractor, a pre owned extra hand gun and some ammo. That used tractor lead to 171 farmable acres of previously untitled raw ground. That produces all the money that former cop now needs to survive on. 

If I had only not gotten mad about the lack of discount, about the $1 mark up the sole proprietor used to feed his family and pay rent who knows what might have happened.


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## PatriotFlamethrower (Jan 10, 2015)

beach23bum said:


> to get the silver in your hand, it's still 3 to 4 dollars over spot. Don't understand why


If you're paying $3.00-4.00 over spot for silver, then you must be buying Silver American Eagles, Morgan dollars, or Peace dollars.

Try buying Franklin halves, Washington quarters, and even the '64 Kennedy halves, and you'll pay $1.00-2.00 over spot, at the MOST.


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## sideKahr (Oct 15, 2014)

Hawaii Volcano Squad said:


> This week, It's 99 cents over spot if you buy a one kilo bar from JM Bullion.
> 
> If price drops to $14 again I may actually buy a bar...


Hawaii, are you concerned about the extra expense of owning bars? Unless you let the supplier store it for you, it has to be assayed before you can sell it back. I've never done that, is it expensive?


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## A Watchman (Sep 14, 2015)

Silver has been up and down over the last few weeks. A 50 cent jump today.


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## Medic33 (Mar 29, 2015)

yes but they do give you a good supply of Vaseline for each purchase.


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## OctopusPrime (Dec 2, 2014)

Ima buy silver at 12 an oz. I'm waiting longer. It's nice to see the price drop tho


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## Hawaii Volcano Squad (Sep 25, 2013)

sideKahr said:


> Hawaii, are you concerned about the extra expense of owning bars? Unless you let the supplier store it for you, it has to be assayed before you can sell it back. I've never done that, is it expensive?


 Well on Sunshine mint bars from Idaho (also sold on JM Bullion) , they have that "decoder" plastic see through card that reveals a blue mint mark on the bar. The 1 kilo has serial numbers but that is not a sunshine bar, but it does have the lowest price over spot.

If you are worried about selling it and having to prove an assay, stick to sunshine bars


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## oldgrouch (Jul 11, 2014)

I buy a little of each every month -- mostly as a hedge for my grandchildren to hold. Buying PMs doesn't hurt as long as you keep up with other preps.


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