Who's jumping into Silver today? Flirting with 52 week low. | TigerDroppings.com

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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
855 posts

Who's jumping into Silver today? Flirting with 52 week low.


I gets expensive when interest rates rise but I don't see that happening yet. Gold to Silver ratio still pretty favorable. I'm in today after market opening.






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
21105 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


I think it has room to go down. Not that I have much money to play with anyways at the moment. I probably wouldn't jump in until it gets down in the 17's





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts
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re: Who's jumping into Silver today? Flirting with 52 week low.


Did you jump in? If so, at what price and what did you buy, SLV or the real stuff?





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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
855 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


I put an order in for 1250 shares of SLV @ 18.16 this morning before I left my desk. Haven't followed it since.

Just checked . . . Order Hasn't filled yet. 9:05



This post was edited on 5/1 at 9:06 am


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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1270 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


I agree it has room to go down. Depending on your time frame, I don't think buying now will hurt you. It's selling now for about .79 over spot. Close to that over fixed.





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cave canem
Mississippi St. Fan
land o sand
Member since Oct 2012
589 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


I believe we are still quite a ways off bottom yet myself. I buy a bit of physical every month and will continue but have curtailed the amount till it bottoms out.





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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
855 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


You are probably correct about the downdraft. But, I jumped in today at $18.22 anyway.

On a separate note, I am warming to buying physical for diversification and novelty. I'm thinking silver eagles. Anybody care to jump in on recommendations for physical purchase? Jump right in here.






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cave canem
Mississippi St. Fan
land o sand
Member since Oct 2012
589 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


In my opinion only I don't buy coins as the premium is too high over spot. Although coins do have a face value that is not why I purchase silver. The value of the metal is the same in a 1oz bar or round at @20$ as a 1oz eagle at @ 21.50. I am buying a metal why pay another 1.50$ over spot as you will sell based on melt or spot price? If you are going to buy and hold I would do bars and or rounds. Keep in mind the larger the purchase the lower the premium over spot price. The larger the bar or round the lower the premium is as well. For example if you buy 100 1oz bars it will cost you @2060.00 right now, a single 100oz bar will be @1970.00. The same is true when you sell, bigger the piece the closer to spot you will sell at. The only advantage to coins is they will usually sell without an assay being done.
This is all for investing in metals by weight, for collectability ie coins, someone else will have to jump in here.



This post was edited on 5/1 at 11:30 pm


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts
 Online 

re: Who's jumping into Silver today? Flirting with 52 week low.


quote:

I jumped in today at $18.22 anyway.
You timed it well. You're up almost 2%.



This post was edited on 5/2 at 9:31 am


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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
855 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


quote:

You timed it well.


Yep, the problem with these trains is you never know which stop to get off on. Right now it's a good problem. I'd like to exit somewhere near $19.50 before next week is done.






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MadDoggyStyle
Mississippi St. Fan
Member since Feb 2012
1171 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


Cave, who do you buy from? Any tips you can give on buying gold/silver? What fees should I expect over the initial cost?

TIA






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cave canem
Mississippi St. Fan
land o sand
Member since Oct 2012
589 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


There are lots of online sellers from ebay which I would avoid to the mints themselves. I use jmbullion.com the most because shipping is already calculated in the price and they usually have some of the lowest prices. This makes it easy as there is nothing to calculate. If you are in a large enough city there will be some local sellers, try a coin shops or try the yellow pages. If I had a local dealer with comp. prices I would go that route as I did in the past. I live in a rural area and can order it way cheaper than driving to purchase face to face. Either way just check both out and see what you prefer. If you overpay a bit on small amounts in the begining it will not kill you to learn the ropes. The fees or price over spot you will pay to purchase will depend greatly on the amount and size piece you purchase as well as shipping if applicable. Just have some fun and pick up an ounce here and there till you learn the ropes a bit, thats one great thing about silver, at todays price you won't lose a lot trying learn how to buy.





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Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2449 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


The 'paper' PMs are just too violitile for mio.

I am into collecting physical PMs for the numismatic value. Its something that I have always enjoyed.

IMHO, PMs are still overpriced. Once silver starts dipping below $17/oz, that is when I am going to start 'stacking'






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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1270 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


Many of the paper pm's aren't pm's at all, but are largely commodity pools as defined by the CFTC. Many say so right in their prospectus for those that ever read these things. They say this because they are required to say it. They don't necessarily advertise it.

This being fact, and it is, when you look at the expense ratios, this is really the most expensive way to own pm's, although in few cases would you ever have a right of redemption, so you never really own pm's.

The only benefit as I see it, and it is a large benefit, are the swaps they can enter in to due to volume and capital. The swaps help stabilize pricing to nav. If it is an etn, there is no way they could survive without swaps. ETN's really need to be risk managed well in order to meet their note obligations. We just saw, again, another series of etf's and etn's that stopped creating more unit trusts and shares. Happens all the time.






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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1270 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


FWIW neither GLD or SLV are commodity pools, but both prospectus have a similar statement as below, which should be disturbing in and of itself:

“Neither the Securities and Exchange Commission [SEC] nor any state securities commission has approved or disapproved of the securities offered in this prospectus, or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense”

and

“The trust is not an investment company registered under the Investment Company Act of 1940. The trust is not a commodity pool for purposes of the Commodity Exchange Act, and its sponsor is not subject to regulation by the Commodity Futures Trading Commission as a commodity pool operator, or a commodity trading advisor.

“As an owner of iShares, you will not have the protections normally associated with ownership of shares in an investment company (emphasis mine) registered under the Investment Company Act of 1940, or the protections afforded by the Commodity Exchange Act of 1936.”






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Reubaltaich
USA Fan
A nation under duress
Member since Jun 2006
2449 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


quote:

“As an owner of iShares, you will not have the protections normally associated with ownership of shares in an investment company (emphasis mine) registered under the Investment Company Act of 1940, or the protections afforded by the Commodity Exchange Act of 1936.”


WOW, just wow.

BTW, good posts.






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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1270 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


I've never understood how they get away with this offering to anyone other than accredited investors. Not that being an accredited investor is ever verified, all one needs to do is state net worth, or three year income levels. An honor system. And mostly a work of fiction, and wishful thinking by those claiming to be accredited.





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Iowa Golfer
Iowa Fan
Heaven
Member since Dec 2013
1270 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


And to go further before I'm off to my daily golf game, go ahead and research who actually owns the bars allegedly held by SLV. Click on the link. It takes you to JP Morgan. It indicates bars are "assigned" to the trustee.

And if you're still not convinced, take out that prospectus and see how easy it is to convert your shares to the silver they "own". Or gold in the case of the other EFT.

I guess they call them ETF's.

I think they likely do have the bars assigned, but when you match up what is assigned to what JPM has shorted, you can draw your own conclusions.

Trade the paper, because that is what it is, paper, own the metal if you want to, but make sure you actually own metal.

Warren Buffet played against JPM. He lost. They took his silver at $6.00 that he shorted against.

When you trade paper, you are trading against JPM. When you own metal, you are betting eventually fundamentals win. Eventually could be a long time. The when is the question no one can answer.






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MadDoggyStyle
Mississippi St. Fan
Member since Feb 2012
1171 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


Thanks, do you recommend the same group for purchasing gold?





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cave canem
Mississippi St. Fan
land o sand
Member since Oct 2012
589 posts

re: Who's jumping into Silver today? Flirting with 52 week low.


Have not bought gold from them, however they are honest so check your prices and decide if they are for you. As long as you are getting what you pay for and are happy with the price the vendor does not matter to me. Just google buying gold or silver online and check out all the retailers. Some only take wire transfers, some take paypal or credit cards. Spotting a shady operator is not that hard and after a few small transactions you will find a seeler that fits what you are buying.You will pay extra for credit card transactions and even more for paypal, but you will get a more secure transaction if you like.





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