Are you waiting or buying?

[WhySoSerious]

Answering to the topics main question: I'm currently leaning towards waiting/holding. Too turbulent to sell ones safe haven assets, but at the same time (some/many) bullion/coin dealers have gone mental with their premiums. You always know, that it's not a good time to buy, when FB, Instagram, Ebay and whatnot are going crazy with selling a certain article.

Sure, I might be wrong and pissed off later, if silver goes to 50 or whatever -but on the other hand, then situation might be so dire, that cash might also be  good to have in hand....

 

edit:typo

[ExUmbris]

When millionaire and billionaire entrepreneurs are moving money to PM's and preparing for what some suspect may be a 20 year recession in the US I have a hard time not buying at least some silver. I missed out a few days ago when there was a bit of a dip and now rising when I am ready to purchase. But, I cannot spend my life watching live spot charts. My plan is to spend part of monthly budget for PM's whenever what I want is available and part of the budget will be held for more strategic purchase when price dips. The downside is that if silver is on the way up to historic levels because of inept govt. running the dollar into the ground, then I run the risk of buying high and then higher. But at least I will have more metal each month. I definitely got into silver several years later than ideal, but like many young Americans I was in the foolish trap of believing an expensive education would provide me more freedom, and living month to month for years in order to get the education.

[Ainsgb]

For me, as im just getting into stacking PMs, i will be buying what i can just to make a start. I have 4 2oz queens beasts (1 yale and 3 falcon) so far. With cashback deals i paid around £43 each which im pleased with considering current circumstances. 

Ill soon be looking for another 1oz along the lines of canadian maple or britannia (oriental border if possible). I expect to pay around £26-30. I will try and buy 1 a month of these going forward amongst others to gradually build up.

Im not too worried about premiums as i will be keeping these coins long term 25+ years, hopefully into retirement. Im sure premiums will reduce at some point so itll all average out. I may even just leave my eventual collection to my children. I just enjoy collecting nice things 

[Robda1986]

I'm going against the grain as per normal I'm going full send at silver regardless of the premium I have a budget each month and I'm loading up soon as things start up again trader's are going to try recouping the stocks they sold paper silver price will jump causing a ripple on the phiscal market. Just my guess 🤷‍♂️

[Arganto]

20 hours ago, Robda1986 said:

I'm going full send  🤷‍♂️

Hell yeah brother!

🏎️🔥 😉

[HGr]

I am buying exotic pieces I have always admired but couldn't usually justify, like low mintage Englehard stuff. When a Britannia is £30+ on ebay, £40 doesn't seem too insane!

 

[HerculeHolmes]

urgghhhh.. Too complicated. I don't know whether to buy or wait.

Imagine you're talking to a clueless caveman named Mungo, and Mungo asks you "Mungo buy? Mungo no buy?" What's your explanation to poor old Mungo?

[Chorlton]

Waiting unless a good value deal presents its self. 

[TheApe]

Got to say the Silverbug attitude confuses me. Not sure if many here consider themselves Silverbugs.

But some spend their time waiting for a big economic event expecting their gold\silver to jump up. Then when it does, they await for things to "get back to normal" to buy more. Is there not a risk that things wont get back to normal. I mean this is the biggest economic event I've ever lived through.

Not saying that things wont get back to normal. But with the cost averaging attitude approach many take, should these people not be buying now as per usual?. There is always the chance current prices are as low as it will be for years, right now.

[RedDragon77]

It's definitely a possibility that the Silver spot price will not be this low again for many years. The premiums are insane, so it is quite a gamble to buy at high premiums if spot price only goes up 10-20% and you bought a lot of holdings at 30-50% premiums.

There is a lot of indication that the stock market gains are a bull trap, and if it crashes again in the coming months, it could go lower than mid March. If that happens margin calls will likely lead to PM sell-offs again and temporarily lower spot prices.

 

Also, lots of people may have really accelerated their PM buying in the past few months, and be low on cash reserves, holding what cash they have and only likely to buy again on another PM dip. Additionally so many people are hurting financially, buying PMs is simply not an option.

No predicting the future but the world economy has taken a major hit, and the stock markets are not really reflecting the scale of the destruction.

[TheApe]

3 minutes ago, RedDragon77 said:

There is a lot of indication that the stock market gains are a bull trap, and if it crashes again in the coming months, it could go lower than mid March. If that happens margin calls will likely lead to PM sell-offs again and temporarily lower spot prices.

Yep, I do think this is biggest risk to sell off. But Im not so sure it will play out the same way a second time. 

[RedDragon77]

1 minute ago, TheApe said:

Yep, I do think this is biggest risk to sell off. But Im not so sure it will play out the same way a second time. 

Nor do I, but I need cash for other things, and already picked up a lot of PMs. I will wait for my cash reserves to grow and look for either spot price drops or premium drops.

[RedDragon77]

As you probably know silver traditionally lags gold in rebounding in a recession/depression due to the much more significant weight of industrial demand. 

Gold miners are expected to do well with the combination of hight spot price and extremely low energy prices.

[TheApe]

1 minute ago, RedDragon77 said:

As you probably know silver traditionally lags gold in rebounding in a recession/depression due to the much more significant weight of industrial demand. 

Gold miners are expected to do well with the combination of hight spot price and extremely low energy prices.

Yeah I picked up some miner stocks, Gold fields mainly.

Any tips?

[AuricGoldfinger]

In answer to the OP, no I’m not buying at the moment.

Do i want to own more gold? YES! But my desire to own more isn’t as strong as my patience.

Gold will probably go up, and if you’re looking with a SHORT TERM view then yes by all means now is potentially a good time to buy. If you’re buying physical though you need to be sure it will go above not only the premium you are paying but above the below spot price you would get if you wanted to offload to a dealer quickly.

Gold is at all time highs in GBP, we are also in a worldwide pandemic. So although going higher is a possibility, going lower at SOME point is almost a certainty. I’m sure £1360 an oz in not the new bottom. I certainly think we will see £1200 and oz again, maybe even sub £1000.

Because all investment for me is LONG TERM i think better buying opportunities will present themselves eventually. It’s very easy to think things will go up and up and up but we know that’s not sustainable for any asset class. Is the stock market better bet to put money into right now? Personally i think LONG TERM yes. Golds at an all time high, Stocks are are at a considerable discount. Eventually gold will come back down, eventually stocks will go back up. Again this is a very long term view which makes all the difference and the best time to get into any asset class is when they are cheaper than before, not more expensive.

[RedDragon77]

3 hours ago, TheApe said:

Yeah I picked up some miner stocks, Gold fields mainly.

Any tips?

Ha, I just started doing research on ETFs, so I'd ask you the same question!

[AgCoyote]

Given that the Stock market has recovered to some degree based off of nothing really tangible, the probability of another crash seems quite likely to me. The question I have is, will gold/silver/miners sell off in the short term like they did during the initial crash? I have to think it's very possible given how the first crash went. People are fools and just always assume stocks will go up forever. Nominally they might. Gold's recovery after the first crash was extremely extremely impressive. I don't have as much as gold as I'd like so I'm going to continue buying under the assumption it's definitely going higher and because I need more gold. 

[wolfiemac]

I'm only buying a couple of items at the moment,(not at high premiums) I picked up a few half bullion sovs before 😷at a good price, so I'm happy with what I have at the moment, all the proof coins I was waiting for have now come, they will be going to grading when I can get out Wor Hoose..🏚

I'm not buying silver coins at the current premium, only random catch my eye stuff....

Waiting for this to be hallmarked, it's the only item I'm waiting of.....

[Russell]

Interesting..

Just bought 20 X 1oz Monarch of the glenn coins and 10 X 100g minted bars from Baird

The Bullion coins turn out to be around £19.50p approx can't remember per Tr oz

The minted bars turn out to be £19.03p per Tr oz

That is a huge difference if you are stacking for value 🙂

[Jimmock]

5 minutes ago, Russell said:

Interesting..

Just bought 20 X 1oz Monarch of the glenn coins and 10 X 100g minted bars from Baird

The Bullion coins turn out to be around £19.50p approx can't remember per Tr oz

The minted bars turn out to be £19.03p per Tr oz

That is a huge difference if you are stacking for value 🙂

Might I ask why you went for the 100g bars. I've been buying from Baird as well,but been going for the 500g at about £16 - £17 per oz. Are you looking at ease of sale down the line?

[dicker]

Buying based in my cost price avg model

Best

Dicker

[Russell]

On 05/05/2020 at 14:42, Jimmock said:

Might I ask why you went for the 100g bars. I've been buying from Baird as well,but been going for the 500g at about £16 - £17 per oz. Are you looking at ease of sale down the line?

Partly but I have bigger bars and several 10oz bullion.  I only have one 5oz PURE Scottish hand poured bar.  I like the 100g bars for their size and having a multiple of them 🙂

[Metalisreal]

I've just ordered a 10 oz silver bar. I want to add to my "family" of PAMP bars but I will have to see how that goes without paying ridiculous premiums. Basically I just get what I can get, when I can get it. I also stack fiat currency waiting for the coin shop to open back up again and see how that pans out.  

[NotReel]

In all honestly I stack because of inflation, I am not buying as much though but, I want to increase my hot stack because this environment reminds me too much of the early crypto bull run of 2016-2017. It won't make any moves until someone "official" comes out on TV and tells people that it is something they need to protect themselves financially.

[Pohaku]

As someone who stumbled across to PMs from cryptocurrency a couple of weeks ago (and have fast become addicted to learning about this world) I am no stranger to the eternal question of whether to buy, sell, or wait.  I don't know anywhere near as much about PMs as I do about crypto, but there are some common themes...

1) Some extremely knowledgeable experts will tell you exactly why the price is going to rise;

2) Some equally knowledgeable experts will tell you exactly why it is going to fall;

3) The only ones you should believe are the ones who tell you that it could go either way and there's no way to be sure.

As for me - I only just got started on this and so of course I'm buying because I want some PMs to look at, but going forward I'll be dollar-cost averaging, as is the best way to invest in crypto.