Precious Metals Forum

Go Back   Precious Metals Forum > Bunker Talk > STS > Introductions

Like Tree3Likes
  • 1 Post By Shelby-villian
  • 1 Post By ancona
  • 1 Post By white&yellow999

Reply
 
LinkBack Thread Tools
Old 11-21-2011, 10:55 AM   #1
Predaceous stink bug
 
Join Date: Nov 2011
Posts: 146
Liked: 78 times
New member

Hello everyone,

I am a newly converted precious metal investor and found this site through ronpaulforums.com. Thank you everyone for your knowledge and I learned a lot even in my first half hour on this site.

I made my first PM purchase last week. I bought 120 oz. of US American Eagles for $37.50/oz, no tax, at a local coin shop.

This week I plan to buy approx. $20K of American Gold Eagles locally. I prefer to deal in local transaction since it has the smallest paper trail which makes me feel more secure. Luckily, the current Euro crisis is driving down gold prices which makes it an opportune time to invest in my first order of gold.

The question I want to ask is there normally a volume discount for AGEagles at around $20K? I have about $40K to spend on gold this month. Should I try to buy it in $10K sums where I try to follow dips? Or should I try to get a biggest dealer discount and buy $40K at once?

Thank you in advance for your replies.
Shelby-villian is offline   Reply With Quote
Old 11-21-2011, 11:01 AM   #2
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,028
Liked: 2449 times
Hi and welcome to the pmbug forums.

Check out this thread regarding your question:

http://www.pmbug.com/forum/f13/advic...-purchase-118/
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 11-21-2011, 12:10 PM   #3
Predaceous stink bug
 
Join Date: Nov 2011
Posts: 146
Liked: 78 times
Thank you I just read the thread. It sounds like either of my strategies is valid which means I'm not making any rookie mistakes.
Shelby-villian is offline   Reply With Quote
Old 11-21-2011, 12:36 PM   #4
PM Bug Supporter
 
DoChenRollingBearing's Avatar
 
Join Date: Oct 2011
Location: SE USA
Posts: 1,275
Liked: 691 times
Welcome Shelby!

You are off to great start, coming in here with a bang!

And with PMs going off the cliff today, your timing looks good. Sure, they could go down after you buy (and 80% prices DO go down when I buy!, short term). But, the value of gold and silver is EXCELLENT at these levels.

Buy and hold. You have just made the decision to get the single best diversification possible.
DoChenRollingBearing is offline   Reply With Quote
Old 11-21-2011, 02:00 PM   #5
Predaceous stink bug
 
Join Date: Nov 2011
Posts: 146
Liked: 78 times
Thank you for your welcomes. I did end up getting 10oz of Gold Eagles today at well under 1700 which might end up being one of the last time I might get a chance to, so I consider myself fortunate.

While at the coin shop, I couldn't resist also getting 100oz of Silver Eagles as I find it such a bargain. How does such a practical and beautiful metal go for so much less then gold? Maybe I'm a silverbug?
PMBug likes this.
Shelby-villian is offline   Reply With Quote
Old 11-21-2011, 02:41 PM   #6
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
Welcome Shelby-V

I am one of those silver bugs who does not like to tell what/how much/where about any of my PM's. As far as the world is concerned, my stack went down in a tragic boating accident.
Island_Dweller likes this.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 11-21-2011, 02:55 PM   #7
Predaceous stink bug
 
Join Date: Nov 2011
Posts: 146
Liked: 78 times
Hi ancona, I definitely follow your advice when I talk to people. But on the internet, being anonymous, wouldnt giving information lead to getting the best advice in return? I am new at this so I appreciate any or all advice from you guys. Regards.
Shelby-villian is offline   Reply With Quote
Old 11-21-2011, 04:20 PM   #8
Big-eyed bug
 
Unobtanium's Avatar
 
Join Date: Nov 2011
Posts: 451
Liked: 344 times
Welcom to the forum Shelby-V!
Unobtanium is offline   Reply With Quote
Old 11-21-2011, 04:33 PM   #9
Predaceous stink bug
 
white&yellow999's Avatar
 
Join Date: Nov 2011
Location: USA
Posts: 239
Liked: 98 times
Welcome shelby and congrats on getting into the precious metals market. I too like the local coin shop purchases over online dealers. Although as we have discussed in a couple threads there are perks to online dealers as well. From what it seems you are on the right track. Don't hesitate to ask any questions here, people are more then happy to share thier opinions with you or point you in the right direction to make an informed desicion. I would personally recommend spacing out your purchases over a period of time, just incase of a dip, it gives you chance to average in lower.
DCFusor likes this.
white&yellow999 is offline   Reply With Quote
Old 11-21-2011, 06:42 PM   #10
Yellow Jacket
 
DCFusor's Avatar
 
Join Date: Nov 2011
Location: Floyd, Virginia
Posts: 1,682
Liked: 1233 times
Welcome! I second W&Y's advice...I've been waiting for a chance to get more myself, but as an also-trader, well, it's best not to catch a falling knife. While not pretending to be able to predict each coming move in order, I think I can safely say we're going to see some real whipsaw action here for a little bit. If you spend all your dry powder on the first dip, you might not be able to get as much on the next.

To me, the best reason to get physical, is not to profit as the paper prices (which it currently tracks) change, but to have it when there ARE no paper prices anymore...
DCFusor is offline   Reply With Quote
Old 11-21-2011, 07:27 PM   #11
Moderator
 
Join Date: Oct 2011
Posts: 494
Liked: 280 times
Welcome aboard, Shelby!

It sounds like you are off to a great start, and I agree that silver is very attractive both in appearance and investment (I like gold too!).
dontdeBasemebro is offline   Reply With Quote
Old 11-21-2011, 07:55 PM   #12
Big-eyed bug
 
Unobtanium's Avatar
 
Join Date: Nov 2011
Posts: 451
Liked: 344 times
Originally Posted by Shelby-villian View Post:
Hello everyone,

I am a newly converted precious metal investor and found this site through ronpaulforums.com. Thank you everyone for your knowledge and I learned a lot even in my first half hour on this site.

I made my first PM purchase last week. I bought 120 oz. of US American Eagles for $37.50/oz, no tax, at a local coin shop.

This week I plan to buy approx. $20K of American Gold Eagles locally. I prefer to deal in local transaction since it has the smallest paper trail which makes me feel more secure. Luckily, the current Euro crisis is driving down gold prices which makes it an opportune time to invest in my first order of gold.

The question I want to ask is there normally a volume discount for AGEagles at around $20K? I have about $40K to spend on gold this month. Should I try to buy it in $10K sums where I try to follow dips? Or should I try to get a biggest dealer discount and buy $40K at once?

Thank you in advance for your replies.
The advantage to buying lots at once is the volume discount. Tulving is a well known dealer who only deals in volume purchases, at low premiums. But you cannot do cash transactions with an online dealer like this.

However, smaller purchases allow you to do dollar cost averaging, and thus limiting your risk of buying "at the wrong time".

In addition, making smaller purchases allow you do cash transactions.
Unobtanium is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hello to all from a new member ancona Introductions 15 11-14-2011 09:51 PM


All times are GMT -5. The time now is 12:54 AM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.