Silver actually dipped below $16.00 the other day for a brief time. At the moment it’s around $16.30. To me, its time to buy. Is the price going to go even lower? Maybe..thats why I wouldnt spend all my money on it right now. And while I can’t be sure it will be going down further, I am confident that, eventually, it will be a good deal higher than what it is now.
When silver is limp, call the Pimp!
(Which reminds me, I need to redo my post about the Metals Pimp) Yay for cached versions!
Silver is a better choice over Gold in my limited opinion. You can buy approximately 70 ounces of Silver for the price of 1ounces of Gold. For every dollar move up of Silver your total value increase 70 dollars. a move back to 26.00 would be a 700 dollar increase. Gold would have to reach 1872.00 to match. Just my 2cents!!
What’s your pimp’s average ship time? I’ve sent email to their sales address, but figured the question could be helpful to others.
I was going to drop fiat monies on silver the other night from NWTMint but their ship time is 8 to 10 WEEKS after being paid. Needless to say – I canceled that order.
Assuming he has what youre after on hand, and you’re not drop-shipping something, his turnaround is pretty fast. A day or two, I think. I see him at the post office virtually every day sending stuff, so he’s big on getting stuff shipped.
once he gets the funds, i get mine in 3 days, all the way across the country. that’s one reason i buy from him exclusively. he has been exceptionally patient with my ignorance of the silver market as well.
I’ve placed a couple of orders with The Pimp. I don’t remember exactly how long it took to get my orders, but easily inside of a week.
Well then – a little patience on my part while on their page would have answered my question 🙂
“We pride ourselves on very fast shipping- over 99% of our orders ship within 24 hours, most of our shipments are in the customers’ hands before some companies even process your order. ”
Now if they can just get some Stagecoach back in stock,… 🙂
hit up the pimp this week myself and promptly lost a dollar an ounce. i remember when it was 5 bucks and i hope it doesn’t ever go that low again. personally i think the recent volatility in the market will get much worse with bigger dips and surges until it finally cracks.
Not me, brother. If silver hits $5/oz., I’m gonna shave my legs & start turning tricks. At $16, I’m buying Provident’s silver Eagles on the credit card.
i hear ya. i hate to lose value on what i bought already though. a buddy bought 10 ounces a week at 3 to 5 bucks for twenty years. he didn’t need his pension when he retired. yep, i’m kicking myself for not following his advice.
How would you try to work the volitility (sp) of silver? I think it will go back up to higher teens and then maybe back down. Who would I sell it too at $19 and ounce if I bought at $16 an ounce when price goes back up? What kind of difference is there in buy and sell at those prices? Do you sell or just stock up? Thanks for any advice.
Every market is volatile. If you’re reading this then you know that I, like many readers here, believe that economic downturns lay ahead and that in those downturn the purchasing power of gold and silver will exceed that of an equal value of greenbacks. I buy silver and gold to keep, not to sell like an investment. The rest of your questions are poorly phrased and I cannot understand them.
Is there a reason you prefer the American Eagles over the basic silver rounds/bars? I know they are a bit more recognizable, but still think of it’s SHTF, a ounce of silver is still a ounce of silver even if it’s a 1997 dated American Eagle on it. Any thoughts on having a few of the fractional bullion too? Or just get the 90% dimes/quarters.
I preferred the Eagles because people ’round the world would be more inclined to trade with it than a 1-oz. round that says “Bobs Arkansas Refinery And Bait Shop”. I also figured the Chinese would be less likely to counterfeit it…although Ive revised my thinking on that. Currently, Im mostly buying late-made Maples on the strength of the anti-counterfeiting measures they incorporate.