Purchase

[asolarsilver]

Hi,

We are looking for your opinions.

My wife and I have bought 100 oz (20 + 80) of uncirc brill. Eagles from APMEX since mid November 2010.

We are looking to buy another 100 oz - 200 oz tomorrow in the 10 oz bar format.

But, I am curious about the Jan 17, 2011 deadline on the CFTC, and how that might affect the proce of silver.

Does anyone have any thoughts on how the price might be affected, with me knowing full well the risk of buying silver as an investment.

And, any thoughts on buying now, vs. waiting a few weeks?

And, finally, any specific bars at APMEX to look at? Should we get a bar in a different weight? Or, should we stick with the Eagles?

Or, buy from a different another company, and why?

Oh, we have been told to not open the Eagles, touch them, etc., but I am not sure why. Any of you have any thoughts on that? I can see the Eagles through their plastic tube so I know they are there but still curious about that. We believe it is because of tarnishing but are not sure.

Thanks.

[mightymanx]

last first

tarnish and they scratch easily

10z bars I like Monarch 10oz bars they are low preimum they are the poured style which I like and there customer service kicks ass.

I think silver will dip slightly as people sell in to the redemption then immediatly shoot up after, but that is an entirely non expert speculation.

[milehi]

10z bars I like Monarch 10oz bars they are low preimum they are the poured style which I like and there customer service kicks ass.

I think silver will dip slightly as people sell in to the redemption then immediatly shoot up after, but that is an entirely non expert speculation.


Another vote for Monarch Precious Metals. They always have some sort of sale going on, and their shipping is quick. I'm one state away and have had an order show up the next day.

Will silver dip? My belief is any slight premium is insurance. I remember balking when Ag spot hit $10. :o

As for anything 10oz, that's too big for me right now unless it's a can of beans.

[JohnQPublic]

I would not depend on the CFTC to do anything. Maybe they will maybe they won't. Read the comments on this story:

http://www.zerohedge.com/article/watch-cftc-webcast-position-limits-live-and-banging-close-free

If the price does not go up substantially tomorrow, you may be safe to wait until next week and see where things go. If it weakens next week, you can keep waiting. But be warned, when it goes up this time, it will probably be a big step, so there is a risk to waiting if you want to buy now. A lot of people are expecting a blow-out by March (Jim Sinclair predicted $1650 gold by tomorrow, but that is another story). I have noted recently that what happens overseas does not necassarily correlate to what happens on the COMEX, so unfortunately it is hard to predict COMEX from tonights action (or lack thereof). It's a tough spot to be in (relative to spot :D). Perosnally if I had cash for 10-20 10ozt. bars I would order tonight, knowing that I may be sorry tomorrow (maybe do half/quarter tonight, then watch tomorrow?). My non-professional opinion is any change tomorrow will be <$1 ozt. either way. I feel like it will move upwards, but it is only a feeling. If I am wrong and it is > $1, then it would most likely be up (up, up). I am digging myself in deep, but hey it's only an opinion.

Keep up with Harvey Organ's blog, too: www.harveyorgan.blogspot.com (maybe you already do).

Welcome to GSUS.

[asolarsilver]

Thanks for the reply. We are discussing your responses, as they were great and on-point. Thanks for the help.

[madfranks]

Are you first time buyers of silver? One thing that's hard not to do, once you make a big purchase, is to analyze the spot price every single day cringing when it goes down and cheering when it goes up. Keep in mind, if you're buying for long term, I don't think you have anything to worry about; the long term view on silver is very bullish. Also, watch this video:

http://www.youtube.com/watch?v=-IiarVvZguY

[solid]

Are you first time buyers of silver? One thing that's hard not to do, once you make a big purchase, is to analyze the spot price every single day cringing when it goes down and cheering when it goes up. Keep in mind, if you're buying for long term, I don't think you have anything to worry about; the long term view on silver is very bullish.


Very wise advise. Silver has some pretty wild swings. Seems like now may be a good time to pull the trigger though, this is a nice dip we're having!

My local coin shop guy told me he thinks silver will be at $50 in a few months. That, in my opinion, is a bold prediction. However, lot's of smart folks are thinking the same thing.

Welcome to the forum!

[SLV^GLD]

Premiums on eagles nowadays preclude their purchase in favor of more ounces for the dollar.
In my experience 10ozt bars can be a more economical route. I would not recommend exceeding 10ozt unit weights.
Consider investing in 90% silver coinage for the most ounces to the dollar. Resale is no issue for any of the above.

[JohnQPublic]

I would not depend on the CFTC to do anything. Maybe they will maybe they won't.

Here's the latest:

Guest Post: JP Morgan Wins: CFTC Position Limits Do Not Apply (To Them) (http://www.zerohedge.com/article/guest-post-jp-morgan-wins-cftc-position-limits-do-not-apply-them)

[JohnQPublic]

Silver closed down about $0.40. Next week should be interesting if nothing else.

[SLV^GLD]

You were instructed to avoid touching the eagles in the interests of your welfare and sanity.
If you were to come in prolonged contact with the shiny metal disks you stand a very high chance of developing several virulent disorders simultaneously. You will quickly progress from simple touching to "fondling" and you will stop asking what types to buy because you will be on a quest to buy them all which some might term "hoarding". The affected display few symptoms such as sweaty palms and shifty eyes in public places and are most easily identified by certain mantras they mutter under their breath such as, "If you don't hold it you don't own it" or "Stack it deep and stack it cheap".

[asolarsilver]

And to think I believed only fondling something else caused you isses..... LOL

We made our 1st purchase in November 2010, after listening to a friend tell us the past 5 - 6 yrs to start buying gold & silver. But, it was only until a few months ago that we finally had the cash flow...little to no credit card & loan payments, just the mortgages. So, now we are looking to make our 2nd purchase..probably a 100 oz bar tomorow, and see how silver goes this next week, and maybe..maybe...another 100 oz bar towards the end of the week. We were thinking of the 10 oz bars but our friend is now suggesting 100 oz bars to avoid the premium. But, I can delay the purchase until I hear back some comments on 10 oz vs. 100 oz. That will be it until probably March 2011 till the next purchase. We have things to do on the house still...lots of things, so we can't go crazy on silver. Our friend says the same thing as you all did above, which is pretty much dollar cost averaging...can't worry about the daily changes..but look to the long haul...when the dollar collapses, etc., etc....a person never really knows what the future holds in today's economic climate. Our goal is 900 oz by the end of 2011...we'll see if we can make it...that is a lot of money to scrounge

[JohnQPublic]

Personally I would avoid 100 ozt. bars. They are very illiquid.

[JohnQPublic]

Here is Harvey Organ's closing comment Saturday:

"You can now turn on your TV as Monday should bring our precious metals on the rise again. Have a great weekend

Harvey"