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Message started by Pine on 05/19/14 at 14:04:12

Title: stupid is as stupid does...
Post by Pine on 05/19/14 at 14:04:12

been wanting to for a long time.
.
.
.
.
.
I bought 70 1oz silver bars.

I needed something to go into my new safe! :P Puts me at about 200 oz.
delivery isnt for up to 10 weeks!

I cant really say what my intention is for doing this. Its rather like buying a motorcycle I guess. Probably useless... but I derive pleasure from it. Call it Pines rebellion at the banks... or my ebay sell stash. Bars are cheaper to ship than old motorcycle parts. ;D

Title: Re: stupid is as stupid does...
Post by verslagen1 on 05/19/14 at 14:33:10

Congrats, you bought near the low, but you drove up the price by a penny. 8-)

Title: Re: stupid is as stupid does...
Post by Serowbot on 05/19/14 at 14:41:10

Hammer at least one, into a pointy spike...
It might kill zombies... (works on werewolves anyway)...

Yunno'... just in case... ;)...
;D ;D ;D....

I have about $20 of junk silver and few silver dollars...
No idea why either...
.. but it's just in case of somethin'... :-?...

Title: Re: stupid is as stupid does...
Post by Dane Allen on 05/19/14 at 16:30:42

427B7C77667D60120 wrote:

been wanting to for a long time.
.
.
.
.
.
I bought 70 1oz silver bars.

Where did you buy from?

Title: Re: stupid is as stupid does...
Post by old_rider on 05/19/14 at 23:49:05

I have always been stumped by the metal buying.....

I know that prices rise and fall...

Most "preppers" say buy metal... for the zombie attack ect...

If armegedon happens...what good is a hunk of metal? wouldn't foodstuffs be a better thing to have? or ammo? or bic lighters? or batteries?

I hear stamps are a good money hobby......

Title: Re: stupid is as stupid does...
Post by pgambr on 05/20/14 at 06:07:56

Investing in metals is another form of diversification. People who invest in metals generally come from the “Austrian” school of economics.

Currently, we don’t get very much in any interest by putting any money in the bank, they have been debasing the dollar for years, and the stock market is rigged at every level.

Just a conservative way to invest any extra money.

Title: Re: stupid is as stupid does...
Post by Pine on 05/20/14 at 07:09:09

3225232F2030420 wrote:

pretty much this.

So far I have never lost on this hobby, I usually get bored of having them and sell them on ebay. If I could have bought $1500 worth of land, I would have done that. Money in the bank.. to me is not a good thing. To easy to spend.. or be taken. If nothing else my kids can inherit them... and if they are smart its nobodies business but their own.

Northwest Territorial Mint, bullion sales (not the online store which charges more). There is a discount for purchases over 50 oz. Free shipping.

Title: Re: stupid is as stupid does...
Post by Pine on 05/22/14 at 06:31:59

HAHAHA...

Silver just went up $.25

To buy the silver that I just bought today instead of getting 70 (1 oz) pieces, I would only get 69. ( ie I just made $19 in one day).

Now Silver does that.. and it does it for no good reason. But hey.. its fun to watch.

;D ;D ;D

Title: Re: stupid is as stupid does...
Post by Pine on 06/19/14 at 08:17:22

Same ole same ole... Silver is controlled by somebody and does stupid things... but its fun to watch.

So the spot price today is $1.00 over the spot price of when I bought the 70 bars. (19.39 vs 20.38) But only a few weeks ago it was down nearly .75. Why?? who knows. Normal folks though can't buy at spot, instead its between $1.50 and $4.50 above it. So my 70 bars are $31.50 underwater. (needs to reach 20.83).

The fun part is.. I haven't even taken delivery yet (and wont until aug). The supplier will by back at spot (bid) without me ever taking delivery. I don't think the silver marker will be up for the summer, as it has become a cycle for it to drop those months, and pick back up in Aug- Sept. But by Nov. I could have bars to put on ebay at a tidy little profit!

Title: Re: stupid is as stupid does...
Post by thumperclone on 06/21/14 at 18:46:32

must be nice
we're just trying to keep the house payments current

Title: Re: stupid is as stupid does...
Post by Seaweednh on 06/22/14 at 09:24:01

For the best price if you want to sell silver, gold or platinum http://aragold.com/index.html

The will hold your precious metal until "you" want to sell. If the market spikes, call them and sell it at spot price.

Title: Re: stupid is as stupid does...
Post by Paraquat on 06/30/14 at 06:10:03

I commented in another thread saying I'd go in on silver with you.
I'm totally hit now.
Just took a week's vacation. Give me a month or two and I'll save some cash, then when the time is right send me a PM.

--Steve

Title: Re: stupid is as stupid does...
Post by Pine on 06/30/14 at 11:00:55

Will do..

BTW Silver hit well over over my buy in @ 20.83.. so I put 6 bars on Cl.. sold them the next day for $25.83ea ($5 over spot). He tried to dicker at point I told him they were already up another 5 cents ($20.88) so he bought them at my price.

This leaves me with 100 bars even. The average cost per bar is $20.13 ( that total cost). If I sold all of them at spot of $20.83 now.. I would still make a tiny profit. OF course the 70 bars I bought have not yet come in.. so I don't physically have them. A good thing I guess.. unlike silver pools, i cant sell what I dont have! Actually I am hoping for a severe drop this summer ( aug?) and then I can buy more. If not then I have a nice little stash.

Title: Re: stupid is as stupid does...
Post by WebsterMark on 06/30/14 at 12:30:36

gotta love capitalism...!!!

Title: Re: stupid is as stupid does...
Post by Pine on 07/10/14 at 17:18:09

Yeah... sold another 9 @ $26.45 ....

Title: Re: stupid is as stupid does...
Post by Pine on 07/22/14 at 10:27:32

I called to check on my bars.... ( the incoming 70)

10 weeks from purchase is THIS week!!!!

They are scheduled for Aug week 2... sheesh another 4 weeks! Delivery is 8 -10 weeks after the check clears. Then she says ( as though quoting a script)

"We are running at full capacity and the small bars are currently being delayed by 2 to 4 weeks."

No wonder people pay such a premium for immediate delivery.