Author Topic: Bulk Silver buy Vs. Monthly/Weekly purchases  (Read 2882 times)

Offline CovertPrepper67

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Bulk Silver buy Vs. Monthly/Weekly purchases
« on: July 05, 2012, 07:57:12 AM »
Hello All,

I am currently looking into buying more silver and i came across a dilemma. Do you buy a few oz's every small time frame and pay the best price you can find, or do you save up all that money for a few months and buy a larger amount so you can get it at a better price.

What do you do and why? I hope you can give me some different view points to help me make my decision.

Thanks
CP67

Offline mxitman

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Re: Bulk Silver buy Vs. Monthly/Weekly purchases
« Reply #1 on: July 06, 2012, 10:47:24 AM »
Like ammo I prefer to buy in bulk, ammo in 500 or 1,000rnds and silver by the roll 20oz...for me...not sure what everyone else does but it works for me, the cost of going all the time for fuel and time cost more to me then the amount I might save in bulk...time is $$

Offline Mister Dark

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Re: Bulk Silver buy Vs. Monthly/Weekly purchases
« Reply #2 on: July 06, 2012, 11:22:59 AM »
For me, a resounding "it depends".  But I lean more towards buying smaller amounts locally, more often.

   When silver was substantially less expensive, I typically bought 20 oz or more at a time from sources like Apmex - larger purchases get better discounts, I save on shipping, etc and so forth.   Even now, if I have a larger pile of cash laying around, I will probably buy online and save a little bit on volume.   However...   These days, Ag is a little more expensive, and since my usual monthly budget is only a few hundred, I just drop by the local coin shop on my way home from work.  I'll pick up a few morgans, or a roll of mercury dimes, or what have you.   It is a smaller purchase each time, sure, but in the long run I think I am getting just about the same overall costs.  On weeks when silver is up, I may hold off. On weeks it is down, I may buy a bit more.

Also, dealing locally has several other significant advantages. One, I can conduct the transactions in cash if I so choose.  Two, now that the shop owner knows me by name, he has taken to giving me preferred pricing, and lets me know when a pile of good coins comes in (good for me would be "almost cull" grade - he pays less for them, I pay less for them, but they are still silver, so we all win) and lets me have 1st dibs.    Finally, if the time comes that I need to sell the coins and get cash in a hurry, I know he will do business with me quickly and quietly.   With Apmex or Silvertown etc, it may take a while to get that money...   

Of course, your mileage may vary.

Offline jpbearit

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Re: Bulk Silver buy Vs. Monthly/Weekly purchases
« Reply #3 on: July 06, 2012, 01:13:36 PM »
Everything the Dark man says about this is true in my experence.  I would only add that you need to set a limit of some sort in your head.  I don't care what the limit is but go in to any buying sprey with your budget/limit firmly set in your mind.

I buy a little each payday. I limit my buys to 3% of my pay check. 
I will stop buying when and if the spot price reaches $45.

I had a surplus income check not too long ago. (sold a big item I didn't need) I spent 25% of that on silver. (it came out to about a roll of dimes.)

These limits keep my "silver bug" in check.

My local dealer has a ton of clients who are in and out all the time buying too much and selling more than they want to because they are trying to pay the markets on a small scale or they aren't thinking ahead and putting money aside for emergencies. they almost never come out ahead.

Remember, you will make very little money buying at this scale. you can preserve some wealth at this scale and that is the best you can hope for.

Good Luck.

Offline CovertPrepper67

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Re: Bulk Silver buy Vs. Monthly/Weekly purchases
« Reply #4 on: July 09, 2012, 09:17:09 AM »
Thanks for all the feedback guys, I'm currently working out of state so I'm not sure local buys will get me anything in the long run. I think i have settled on a mix of big buys every once and a while along with monthly purchases at local shops when i get back home. I can see how it would be very convenient to have a few dealers that I know well for JIC situations.

Cheers
CP67

Offline jpbearit

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Re: Bulk Silver buy Vs. Monthly/Weekly purchases
« Reply #5 on: November 17, 2012, 05:33:23 PM »
bumped: to answer silver question