Is anyone buying at these prices?

[madfranks]

Sometimes it's hard being a numismatist first, bullion saver second. There are some gold coins I really want to get for my collection, but the prices are so high I'm just wondering who is buying right now. Anyone here buying gold at $1650+ prices and silver at $40+ prices? I know most of us bought our major holdings in the past when prices were much lower, but who's buying now?

[Dogman]

I think madfranks the question should be will gold keep going up or will it fall to a much lower price? Would it be nice if we had a crystal ball.

[osoab]

I have to get some for gifts.

I think the S&P downgrade may increase the value of the bucky in the short term (what I have been reading) and a hit to commodities may occur.

So any more stacking, what little it will be, will be at least a week away.

[1970 silver art]

Madfranks, I am always buying silver but I am buying 1-oz silver art bars since I am a silver art bar collector first and foremost and I buy based on what I like.

In my case, If I see a silver art bar at a local dealer or at a coin show that I like or that is on my silver art bar wish list, the I will go ahead and pull the trigger that silver art bar purchase regardless of what the spot silver price is doing because I may not get another opportunity to get certain silver art bars because a lot of the silver art bars that are on my wish list are very hard to find. When I buy a silver art bar locally, I concentrate more on what .999 generic silver premium that I am paying than I do on the spot price at that time.

On ebay, if I 1.) buy a rare silver art bar as a BIN or 2.) win a rare silver art bar auction, then the spot silver price in this case does not play a factor in any of my rare silver art bar purchases because I am paying a "collector's premium" for it and that collector's premium could be $30 (or more) over current spot silver depending on the rarity value of a particular silver art bar.

If/when silver makes a big move on the downside, then premiums on a lot of the rare and semi-rare silver art bars will hold up better (or even go up) than regular .999 generic silver because "rarity value" plays a bigger role for rare silver art bars than the current spot price does. Rare and semi-rare silver art bars act like numismatics in this case. For common-minted silver art bars (such as most holiday-themed silver art bars, Madison Mint, and Hamilton Mint art bars), they go down in value as the spot price of bullion goes down because they are low rarity value bars and they do not carry much of a premium on ebay (final winning bid prices only).

[Dvrumo]

I appreciate the hugginator's article. I recently have made the leap mentally to measuring wealth in oz. Before about a month ago, my ultimate goal was to convert to dollars for a profit. Because I was worried about loosing dollars, I stopped buying once silver hit 20. However, as I have held cash these past months, I have not been able to find anything else that seemed a better value. Everything seems expensive these days. So, I have started buying metals again. I feel I have gained wealth when I accumulate more ounces. As for the possiblity that the market may go down, I can't say it will not, but I still feel richer the more ounces I buy. As for the opportunity cost of "I could have bought x, y or z that would have made me more money", well that is the story of my life having made good and bad calls on stocks, real estate and just about everything else in the past. I also feel like Jim Rogers has a reasonable philosophy. Buy things that are undervalued and sell those that are not. So, are metals undervalued? I do not know, but I am pretty sure the dollar is overvalued, so selling them for a tangible asset with no counter party risk can't be the worst financial decision I have ever made.

[osoab]

I do not know, but I am pretty sure the dollar is overvalued, so selling them for a tangible asset with no counter party risk can't be the worst financial decision I have ever made.


All fiat is overvalued. All we are doing is comparing turd sandwiches when we are talking about competing currencies. The Swiss Frank may be an exception, but it is not back by gold either.

[TomD]

About the only buying I'm doing these days is to keep the 5-6 series that I collect current.

Actually I do intend to buy if I can some relatively serious quantity of the 2012 dragons when they finally come out. Logically there will be quantity limits, since otherwise all the issue would immediately be bought and trickled out at a 300%+ profit.

Other than that, I'm standing pat on investment PM.

[Grog]

Actually I do intend to buy if I can some relatively serious quantity of the 2012 dragons when they finally come out.


Absolutely! I think the 2012 dragons will be a hit. I managed to get a 2oz 2000 dragon for a little over spot the other day, such a score! I've been getting the America the Beautiful 5oz rounds lately and some silver jewlery here and there.

[platinumdude]

I think I'm going to buy a piece of land in 8 months or so. I have a cash pile now, I think it's best if I keep it in cash vs buying PMs then having to sell it in a few months. I see those online banks such as Discover Bank offer 1.1%. I might hold it there until I buy that acreage. If it wasn't for this land idea, I guess I might buy a few more coins at these "high" prices.

[platinumdude]

Bump. Anyone buying this weekend, or are most of you hoping for a dip?

[gunDriller]

i bought some RJ-45 cables at a neighbor's garage sale yesterday.

each of them has a tiny amount of gold-plating.

all i need are about 10 million of them !

[Grog]

Bump. Anyone buying this weekend, or are most of you hoping for a dip?

I have some FRNs which need conversion but I'm holding for a few days.