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GWL3
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Posts posted by GWL3
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5 minutes ago, Witcher said:
You will want to stay away from graded and proof coins then. The premiums are ridiculous. Most experienced stackers say that it is better to go to a local coin shop now instead of these online dealers. During that little dip, I just managed 3 silver ounces. Only 3 because they were higher premium (not generic) coins.
I would love to go to my LCS instead of the online dealers, especially after how they treated us in March, when spot was so low. I live in a small town and my LCS is so tiny. In fact I didn't even know we had one until I was stopped at a red light last year and I just so happened to turn my head and see the shop. Due to the virus, the hours are not stable right now Very limited selection, but decent prices when they are opened. Maybe I'll gibe them a call tomorrow.
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Thx for the lesson on proofs. I want to get as much silver as I can at the lowest possible prices. I was thinking about looking into generic rounds to do so, however since prices spiked the past few weeks so did premiums on them. I don't want to pay $4 to $5 premiums on generics when thats what I was paying on ASE's no that long ago.
I almost pulled the trigger on some Britannias today for $28.80. The best prices on generics at the time were $29.20. This would have affected my DCA a little. I see prices are back up after they reopened. I'll wait until late tonight to see if they come down after the buying frenzy. If not, I won't be too disappointed. I expect more pullbacks even during this upward trend.
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10 minutes ago, Witcher said:
I don't want to be a FOMO.... but I think I just threw my DCA out of wack this week.
I took a gamble... on some proof coins.
I figure... not looking at ASE or even generic at these prices so... why not some big dogs?
It's odd that those kind of coins aren't heavily influenced by the spot as one would think.I'm not too familiar with proof coins. I tried to build my stack with ASE, Maple Leafs and Brittanias, with the occasional generic 10 oz bar when I get a flash sale that's spot or very close to it. I know proofs are more expensive, but have you ever sold any? Do they hold their value much better than BU ASE's?
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Probably a FOMO who thinks the price will be $50 by mid week. In the long run, I'm sure they will be fine. It would just throw their DCA out of wack
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Wow. Down below $25 right now. I feel bad for those who bid over $42 for generic buffalo rounds on Ebay with $3.95 shipping!! Ouch! By the time they get their rounds they could be more that $20 under water.
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26 minutes ago, DarkChameleon said:
They flood us with offers to sell to us when things arw about to go down which happened then when they flood us with offers for buy from us just before the market takes off.
Exactly. That's why I may hold off for a little while unless I receive a flash deal that is to good to pass. The price went up too much, too fast. I have a feeling (I hope) that we may be in for a little pull back soon, before another run. I just worry that the dealers will use their "out of stock" trick. I may have to rely on Ebay or a LCS if spot prices do drop enough
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3 hours ago, goldmember44 said:
I just hope premiums will also come down with the spot if we get a correction... otherwise dealers may make it tough for us to pick up more on a dip. My hunch is they will all use the "out of stock" trick until prices are skyrocketing again.
It's amazing. Since the spot price started spiking my inbox is flooded with emails from the dealers letting me know that everything I requested is "Back in Stock". I'm sure they did get some from sellers, but a majority was probably held back until prices increased. I also doubt premiums will come down much either.
- goldmember44 and RedDragon77
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Thx for warning the newer stackers. I really hope many did not fall for this "flash sale". I heard they extended it longer than 4 hours, so that tells me they were probably having trouble selling these. They used a typical retail scheme, jack the price up and then announce a "sale" to make it seem they buyer is getting a great deal.
These premiums are nuts. This is the first time in months that i'm actually not waiting for any silver to arrive. I haven't bought any silver in a while. I can't justify paying $8 - $12 premiums for ASE's or even $4 - $6 premiums on rounds! I know some say that this is the new normal, and perhaps they're right, but I'm willing to wait until some of the mines that are closed due to the pandemic to open and hopefully the supply will catch up to the demand and have an impact on lowering premiums to some degree.