co-workers sister-in-law works at a jewelry shop. She has an englehart 10oz bar in a plastic sleeve (he showed me a picture on his cellphone). he said they want 470 dollars for it in the case but she would take 300 dollars for it. He said at 470 dollars, it won't go anywhere.
should I jump on it?
- Thread starter Jay
- Start date
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KMS
Big Eyed Bug
If it means anything, APMEX's buy price for a 10oz is 277. Personally I'd price a 10 oz bar of any kind @ 10xSpot+1.99 an oz, but as we're all seeing the price disconnect between physical and paper. Uh, I figure they're underwater on it, with that original asking price. If you feel comfortable with it @ 300, yeah. Honestly I'd probably scoop it for the same. You can't get them much cheaper online right now anyway. /cheers
I wasn't planning on buying any silver right now, but this just popped up, and I always did want a bar (I don't have any). My wife was standing there when we were talking about it, and she didn't do her usual freakout, so its OK in her mind. yeah, I'll more than likely go for it. Thanks for the input.
Hey Jay...as a fellow married man I have had the similar looks from my wife when buying silver or gold.
I in know way am saying how you should or should not approach this with her.
I'm merely sharing my experience.
The wife and I were talking about a purchase not to long ago on the next dip. I told her how excited I was and showed her the site where I wanted to load up once more.
The dip came and I closed the deal only to hear crap from her later that week when I remembered to tell her I picked up 40 oz on that last dip.
She was a little pissy and asked me why I didn't discuss it with her. I reminded her of the conversation and she still insisted we talk about it the day I execute any order just to make sure.
Go figure my friend.
In the end she is happy with the purchase but with the way prices have dropped (and trust me I believe the bottom is already in and we are going to be range bound through the summer) it makes it hard for her to see the long term investment.
I just try and reassure her that silver and gold will never got to $0. It's the opportunity for some short term profit while holding a sizeable position which makes it hard for her to swallow now and again.
Good luck!
(I would buy that 10oz in a heartbeat at $300!)
-Q
I in know way am saying how you should or should not approach this with her.
I'm merely sharing my experience.
The wife and I were talking about a purchase not to long ago on the next dip. I told her how excited I was and showed her the site where I wanted to load up once more.
The dip came and I closed the deal only to hear crap from her later that week when I remembered to tell her I picked up 40 oz on that last dip.
She was a little pissy and asked me why I didn't discuss it with her. I reminded her of the conversation and she still insisted we talk about it the day I execute any order just to make sure.
Go figure my friend.
In the end she is happy with the purchase but with the way prices have dropped (and trust me I believe the bottom is already in and we are going to be range bound through the summer) it makes it hard for her to see the long term investment.
I just try and reassure her that silver and gold will never got to $0. It's the opportunity for some short term profit while holding a sizeable position which makes it hard for her to swallow now and again.
Good luck!
(I would buy that 10oz in a heartbeat at $300!)
-Q
in what sounds like an ongoing soap opera, the gal who works at the jewelry shop won't be there Mon or Tues because her husband just found out he has cancer. My wife (filipina, VERY well educated) has never really loosened up on the idea of silver. (she actually has quite a bit of gold, jewelry). Everytime it takes a dip, she says "seeee". I really believe she would rather have fiat dollars in her hand than silver. But whatever. She has her own income, and I pay all the bills with my income, so when I buy she doesn't say anything. (I use "my" money). On the other hand, she has filled the house with what I consider useless shit she gets at garage sales. On the up side, she is a doomer like me and says the US will be like the Philippines very soon, and every time she shops she buys extra, and rotates all our stockpile. Its just the PM thing she doesn't seem to get. Go figure. On the humerous note, her friend from the nearby city came over the other night and tryed to sell us life insurance. Before she came, Bing told her three times that I heard "you are wasting your time. My husband won't buy anything." The lady was very nice, gave her presentation, then I gave my worthless fiat money collapse spiel and expected her to be shocked. Instead she just laughed and said "I already knew that, Jay. It's about to get very bad." And she already knew all about the comex, manipulation, fractional reserve banking, derivatives, etc. I was actually quite impressed. She was just trying to sell insurance. The rest of the evening was quite pleasant, and Bing ended up selling HER something. I thought that was funny...
Thanks for sharing Jay. 
I wanted to chime in on the "useless crap" part of your story.
My wife is Indian (from India) and she loves a deal. So much she constantly tells me how she saved here and there. I go buy a couple hundred dollars of silver here and there and she spends a couple of hundred dollars across 20 stores.
Oh well...at least it sounds like our wives only fuss so much but in the end we are investing in the better sales.
-Q
I wanted to chime in on the "useless crap" part of your story.
My wife is Indian (from India) and she loves a deal. So much she constantly tells me how she saved here and there. I go buy a couple hundred dollars of silver here and there and she spends a couple of hundred dollars across 20 stores.
Oh well...at least it sounds like our wives only fuss so much but in the end we are investing in the better sales.
-Q
Bebing grew up in abject poverty. Her mom put nine kids through college working in the rice field. Shes talking to her mom n the other room right now (mothers day and all). I have land in the Philippines (in Pagadian City in the province of Zamboanga del Sur on the island of Mindanao). Bing is incredibly frugal, and I literally wouldn't have a pot to piss in if it weren't for her. Everything I owned fit in my saddlebags when we got married 19 years ago. Now I have so much shit you couldn't move it with two 58 foot trailers. But to be fair, we are NEVER lacking for anything and I never have to go to the hardware store. My only regret with regards to material stuff is that I had amassed a very large library of what I considered excellent books for my as yet unborn kids and one day she sold them all at a garage sale for a quarter each because "no one ever reads them". Oh well. Likewise I collected all the National Geographics all the way back and was kinda proud I had a set, and one day they cut a bunch of them up to make collages. Its all dust anyway. Oh, and just like Imelda Marcos she has a thousand pairs of shoes. She buys all the old shoes at garage sales, she never has worn most of them. I guess not having shoes when you are little really marks you.Thanks for sharing Jay.
I wanted to chime in on the "useless crap" part of your story.
My wife is Indian (from India) and she loves a deal. So much she constantly tells me how she saved here and there. I go buy a couple hundred dollars of silver here and there and she spends a couple of hundred dollars across 20 stores.
Oh well...at least it sounds like our wives only fuss so much but in the end we are investing in the better sales.
-Q
There is a large filipina community in this small town (pop. 5000) with perhaps 150 pinay here, but they look like mexicans so you can't tell they are filipina. They can spend hours going to "20 different stores" as you say. My kids hate it. Bing and I are the same age, so thats a plus. (54/52). Also, we have NO debt except for the mortgage, which is only 400 a month. we could pay it off but don't want to right now. (rather have the cash available). Well, thats certainly enough! best Jay
edited to add I've lived in Pagadian 5 times and would rather live there. Bing would rather live here.