I'm guessing this will last a few days and then start to go back up. "Buy on the Dips" Look at the current charts HERE
Slight gain today.... still a good deal in the single digits.... anyone can afford a little silver in their pockets.... and its a remarkably wise thing to do.... but.... no ones listening.... too many other things to do, people to meet, places to go, things to buy.... Life is good and Ignorance is certainly bliss....
I got some today. 90% silver coins. I bought $100 face for $700. I think that was an OK deal. Why isn't a $1000 bag = 900 oz? Or was the dealer BSing me?
No, the dealer probably isn't BS'ing you..... a dollar in coin does not weigh one ounce, therefore 90% of it is cannot have .9 ounces. A face dollar of pre 65 coin contained .7235 ounces of silver when newly minted. "Most" dealers sell this 'junk' coin as having .715 ounces per dollar face ( especially if you buy it in $1000 bags ) Here's the formula I use....... Face amount X .715 = amount of silver. Example: Your 100 face x .715= 71.5 ounces of silver. Spot this morning is about 9.60, so 71.5oz x 9.60FRN/oz = 686.40 FRN......you gave 13.60 FRNs more than spot. That is NOT too bad on a small amout......right in the ballpark of what most dealers get. You're never gonna get it AT spot or below from a dealer most likely, because that spread is their profit.
Well, Trading just opened up... Everything is down accross the PM board... Silver just lost .09 to $9.26 I wonder if we will go below $9 this wekk? Looking like an even better time to buy. Looks like Hong Kong is Selling
