Buying gold, silver when to start?

500 watt panels for $400 sounds like a horrible deal. If you go slightly used they can be 40 or 50 cents a watt.
I guess it comes down to do you want new or nearly twice as many.

 

Market sentiment turned bullish late last week. Gold futures are back where they started, at least the ones I can see.
Asian markets open in about 10 minutes. Let's see what happens...

So far no regrets.
167 ounces for $6,200 assuming all remaining auctions are maxed out and everyone pays. I would call that pretty danmed good.
Subtract shipping on some of them, that's minus about $3 per ounce since most of what I sold was singles, 10% for ebay fees, 3% for paypal. So I should be at least over $30 per ounce.
Buyer paid shipping and most of the time there was a dollar left over.
So if I sold mostly 5s, 10s, kilos shipping would average out to under 50 cents less per ounce, ebay and paypal fees stay the same.
It put a nice dent in my silver hord but will free up a lot of space in my box selling mostly singles and brining them back as poured 10s and kilos.
It will really free it up if I replace my silver with platinum.

 

The price went crazy because lack of supply.
Looks like the plan is to grab the bull market by the horns and heard it.
With all this additional supply it may be a while before we have a run away bull market again.

From 1:10 to 1:40 there a shameless product plug for a PM retirement fund I don't think anyone on here would be interested in.
Some of the silver I sold isn't coming back as PM.

 

Once you figure out how to tell fake from real you can buy gold from non standard sources.

There's a guy I know who has been collecting electric waste to refine into gold. I call him the mad scientist. I told him if he can get 22kt or better gold I'll pay him near spot, definitely more than any other storefront gold buyer. I told him if he can get the gold to around 99.9% Pure I'll pay him spot. The 24kt acid tests can't really tell the difference between 99.9% and 99.999%
I will density check, acid test and inductive test it. I would like an x-ray mass spec test but not available in a 2 horse town.
I investigated the possibility of doing it my self but figured it was a nasty business and didn't want any part of it.
Just goes to show everyone is a gold miner when gold is near record high prices.

 

People still seem eager to spend $30+ per ounce delivered on small quantities.

 

If everything wasn't crazy now would be the time to buy silver, if prices were normal or low.
Don't buy silver now, unless you just like wasting money.
Check this chart out. It shows all of ebays 5 year average volume over the course of the year. Normally in September sales are dead. This isn't a typical year. But explains why I could catch a panic sale for 40 cents an ounce over spot on bars in fall of 2018.
Ebay has to be selling at least millions of dollars in bullion per year so I'm sure it some what represents what's happening in the rest of the commercial bullion sales industry.
So being a seller even a micro small time dealer I'm seeing both sides of the coin for the first time.


Someone once told me "there's no season or best time of year to buy gold or silver"
That person is full of shit.
I have bought 10oz silver bars from Apmex for 44 cents an ounce ovet spot in September before.

 

If this silver rally is over this was kind of a short one.
Because silver came no where close to any of its all time highs that does more damage to the floor than it does the ceiling. $12 to $14 an ounce silver is still very much a possibility. I say start buying around $15 to $16.
If the price drops to $12 you won't be able to get any till it stays there for a while unless you want to pay $5 an ounce over spot.
I'm going to start buying fractionals and weird/old stuff when I can start getting it under $20 an ounce.
I was getting nearly $40 an ounce for fractionals. People were going nuts over the fractionals.

 

Looks like the silver price dropped about $4 an ounce in 4 days.

 

When it is under $20 i might buy some more

 

If nothing weird happens it should be back below 20 before next year.

 

If you were stupid enough to have bought silver for $35 an ounce delivered then you should really be stacking it deep now.
A year later and silver is avalanching towards and past my first buy in trigger, just a 1 year price low.
The silver rally is over and falling fast.
This less than spectacular silver bull market was so lack luster it may erode what we thought was the silver price floor after failing to meet its previous false all time high and came no where near its true all time high.
For the last 10 years in silver the lows have been getting lower and the highs have been getting lower. When adjusted for inflation it looks even worse. There is a good possibility the next 5 years could see some really good prices, if you're buyin and you are shit out of luck if you're selling.

 

Silver inventory is way up, the big sellers almost have a normal looking inventory. A bunch of selections in every size, most of your favorite brands, secondary market items, items are "on sale".
Silver hit about a 1 year low and can be had for 25 to $26 an ounce and a little less if you buy a lot of poured 10 ounce or shot.

 

This guy says ignore fractionals. On the 1, 2.5, 5, 10 gram I agree. But when I was selling silver the half ounce and 20gm bars were bringing almost as much as 1 ounce bars. I wish I had bought them all when I saw them at the gold and silver shop.
He says to stack 10 ounce bars, I agree, I say stack poured 10 ounce bars. He says 10 ounce based are easy to move eh, yes and no, even during the perfect bull market there weren't a lot of people buying 10oz bars.
I say stack tens and kilos deep to keep and stack 1/2, 20gm when you can get a good deal on them along with ones and fives to sell.
Don't buy anything bigger than a kilo because when silver eventually hits $100 an ounce, I don't know about you but I'll be selling. A kilo will be over $3,000. It's just hard to move that much money around when people are freaking out.
I don't bother with 100gm or 250gm in the US you are just paying a premium for an odd size.

 

I have looked at every silver bull market run that has happened since I have been alive and they always do the same thing.
The bull market starts, then about 3 years later it runs off a cliff.
So if you bought $35 silver, it will probably normally be worth $35 over an ounce in about 20 to 30 years, or after about 3 or 4 more of these bull market cycles that happen at least every 10 years.
The bull market appears to be over the edge of the cliff. If not now then definitely by spring.
I'm looking for it to make a run at $15 an ounce.

 

If it gets to $15 I will load the wagon...

 

If it gets to 20 I'll back up the truck. If it doesn't hit it by december/january it probably never will.
If it hits 15 I'll back the truck up again. but i doubt i'll see it.

 

It will likely make a run for $15 an ounce between now and spring 2022 but I don't know if it will make it all the way down to 15. Also it could barely touch $15 an ounce and when that happens there may be no inventory and spot fees $5 over an ounce.
You can end up seeing situations where you would have been better off buying at a higher price, say $18 an ounce and $1 to $2 spot fees depending on what and how much you buy and everything is available because the idiots who bought silver last year at $30 an ounce are trying to off load versus a quick price dip to $15 an ounce with $5 or more spot fees with very little selection, mostly over priced or weird stuff that no one wanted to buy and then when inventory does slowly come back, the spot fees stay high.

 

Ya Right !

 

Which merely proves spot price and real price are two completely different things.

Given the fundamentals of silver, most of us "idiots" would be content to simply hold, and/or buy into a dip.
The only people selling are the truly desperate that have to cover margin calls for the Big Casino on Wall St.

 

Well the economic news this month is "it's technically not a recession". And with democrats running everything that's great news.
The problem with silver is as demand increases supply can decrease as the economy takes a shit, base metal demand for copper, zinc and lead decline which produce silver as a byproduct. Then as silver demand decreases the supply can increase as the economy takes off copper and zinc production also takes off. Now all this silver dumps onto the market, if the market wants it or not further driving the price down.
The plandemic appears to have totally been an artificial shortage. Also comex approved around 1,000 comex applications they had been sitting on for 20 years. From what I hear there were only a handful of comex applications approved in the last 20 years. So it looks like there will be no shortage of bullion and coin grade silver producers.