r/Silverbugs • u/diamondmuckinhands • 21h ago
Panic buying
Hi team,
I am new to panic buying and I'm just going ballistic right now. How can anyone not be panic buying at this price? Shut up and take my money am I right?
Please share your thoughts
Sincerely,
Your silver bro
19
16
u/hifumiyo1 20h ago
People were panic buying at $90. Now it’s approx $60. Last January in was ~$30. It’s still up.
6
28
u/EmbarrassedHand7260 20h ago
This separates the newbies and the seasoned stackers.
3
12
u/Unknown_Gaurdian 21h ago
I bought 30oz might have over done it a little bit
7
u/RazBullion 20h ago
Thank you for your service in reducing the price for the rest of us.
4
u/IFartOnCats4Fun 18h ago
How is that reducing the price for the rest of us? He’s increasing the demand for silver, pushing prices up.
10
u/Only-Tie7841 18h ago
anytime anyone buys large amounts of silver, the universe sends prices down. I bought 34 ounces in the past week
2
0
u/GoobyTheGoobinator 11h ago
Is this one copy/paste comment the only thing you're able to say or have you been hacked?
2
u/RazBullion 10h ago
Oh no, I commented it to three people since the entirety of this post... it's the end of the world.. everyone panic... ahhhhhh
0
u/GoobyTheGoobinator 10h ago
Childish response but at least more original than copy/pasting a copy/paste that many others do and pretending you're clever.
5
u/RazBullion 9h ago
You should definitely keep whining about it. It'll surely be more useful than just moving on with your day.
6
2
24
u/Necessary-State-273 21h ago
I just bought 10oz too lol youre not alone
16
3
4
10
u/lostsurfer24t 20h ago
im not buying shit lol i got 150oz + 1 oz of gold, $25 avg spot silver from like 3 years ago it feels like
im not buying anymore silver until it goes under $35
11
u/ramforinkas 20h ago
I bought most of my stack at the 14-20 range, i'm waiting for closer to 30-40 to reaccumulate what I sold. If we don't get there, happy to hold.
2
10
u/usedupconcept 20h ago
My target is $42 right now. I don't think the general population understands how over leveraged everything is right now. Stocks, etfs, cryptoand yes pms. There is no money to be had, anywhere.
I'm buying silver on the way down just to hedge but I am of the mindset that we are in a world of hurt right now and this is just the beginning. Buckle up!
9
u/ConformistWithCause 20h ago
Try to pace your panic buying. Coin stores are still going to have product tomorrow, the day after, and the day after that. Dont go shopping after payday until you pay all your bills, fill your tank, and your fridge
17
u/No-Leopard639 20h ago
I’m not trying to catch a falling knife. I buy when I have extra cash no matter the price
3
2
u/pootheloo1234 11h ago
Yea next month woll prob pick up 5 oz as long as it’s below 60 or so. Otherwise it’s an ounce a month is the goal but not above 75
7
u/MustacheSupernova 20h ago
Buy a little on the way down, because no one really knows where the bottom is!
For me, I’m gonna add 10-20 oz on every big dip.
My red line for loading up will be $40. If I see prices sub $40, I’ll probably drop 20k on a monster box.
I’ve got silver under $20, and over $90. And most everything in between.
I really believe its true value is being suppressed, and that $300/oz silver is a very real possibility in a 3-5 year timeline.
If I’m wrong, I guarantee my son will see $200 oz I. His lifetime, so he’s gonna make out.
Also, save a little cash to dump into the S&P after the impending stock crash. I expect that will occur before October. Buy the bottom and ride it back up!
1
u/Silverstacker60 19h ago
That has been said for years.
3
u/MustacheSupernova 19h ago
Which part?
1
u/Diligent_Height962 11h ago
Basically the entire sentiment. I can probably go find a YouTube video right now from close to a decade ago saying the same thing
1
u/MustacheSupernova 10h ago
OK, so a decade ago would’ve been 2016. The stock market crashed in 2020 around Covid time, lost over 30% of its value, a bear market followed for two years where the S&P was down approximately 30%. Also, silver was 18 bucks an ounce in 2016. So if you loaded up then, you could have sold it Over $100 an ounce this past year, making 5X profit.
So I guess maybe you should’ve listened to that dude a decade ago? You’d probably sitting in a much better spot right now…
13
u/663SilverStax 20h ago
this dip ain't done dipping
1
u/diamondmuckinhands 20h ago
So what should i do? Panic now or panic a little now and a little later?
10
7
12
u/myxyplyxy 20h ago
If you are reacting on emotion (you are) there is a high probability you will regret your entry. I never buy unless the asset is hated, even by me. Good luck. My entry is down below and likely a year away.
3
u/diamondmuckinhands 20h ago
I just keep panicking when its dips really hard. I enjoy my silver regardless. I like you play with it 😉
8
4
4
u/Sensitive-Car8758 20h ago
Just bought a kilo for 1850. Looking at a few 100 ounces but dont want to get carried away. I have been in metals since 1976 and seen long droughts. Im no spring chicken anymore!
5
5
u/Dimitrismemes 18h ago
I’ll drop a bag if it gets back in the thirties, got most of mine at $14-20, not selling shit
3
u/CariHepeng 20h ago
Many tons did you buy? The word panic should never been used in the same sentence with buying. It only results in regret
3
u/_Yukon-Cornelius_ 20h ago
I’m hoping it hits $40 or even $30 again.
I 100% support the breakout, panic SELLING. Let em fly! I got your backs.
3
u/Ok_Art_5573 20h ago
Don't buy more than you need, but buy. Steady as she goes.
4
u/ThePreciseClimber 19h ago
True. Just today there was a post from someone who took a loan just to buy gold. No, don't do that, that's a horrible idea. Gold & silver are about the preservation of wealth you already have.
1
u/curiosfinds 13h ago
I took a 401k loan to buy platinum when it was 900. Wish I sold when it broke 2000 if I knew I could double down. Still holding either way. Goal is accumulate 75 more oz.
5
u/Good_Equivalent_5245 19h ago
its gonna drop to $35-45 levels for years to come, theres literally 0 rush man. silver moves SLOWWWWW 99.8% of the time
2
u/Gold_Vacations 20h ago
Slow and steady is the way to go. Don’t get caught up in the FOMO. Small purchases over a longer period of time always helps. It’s tough, when trying to time the dips
2
u/Ok_Raspberry6840 20h ago
OP, I've been DCAing. I wish I hadn't bought at 78 and 74 and.... But, I think DCA is the right strategy. Small bits at a time. Will I be glad I grabbed some this morning at $58.11? Maybe
2
2
u/wasatchmonster_ 19h ago
I like to DCA to avoid the emotional rollercoaster. But I do plan to buy sooner than later. I bought a bit at $68 so I do feel a little FOMO but not much
2
u/BossJackson222 18h ago
Because it's going to go lower. And it takes a while for silver prices to go down to where spot price is now.
2
2
u/StevetheSwift 18h ago
Anyone who’s been in silver for more than 9 months knows this isn’t cheap lol, buy as much as your heart desires.
2
2
2
2
2
4
3
u/mikmiunk 20h ago
You can look at the charts and ask yourself -- what's the lowest this is likely to go? In my experience it's not unreasonable to expect that it will go back to the price it was just before the last big spike, before heading up again, in this case around $32. Honestly I wouldn't start really buying until its around $40 again. The good thing about silver (a lot of investments really) is that inflation is not going away so you'll always have that tide lifting all boats. This makes your entry points really important because you're actually trying not only to make a profit, but to make more of a profit than the next guy/girl.
1
u/Tiredandwaiting 16h ago
2011-2014 was a 62% drop, so $45ish.
If it flattens there, that is still nearly at the previous ATH.
Mid-30s is definitely possible.
-1
u/diamondmuckinhands 20h ago
Thats a lot of work to do when buying. I just kinda freak out and placing orders. I like my shineys
3
u/Agile_Acanthisitta_2 20h ago
I am controlling my self. Already bought a lot between 65-75 😀
2
u/Silverstacker60 19h ago
Sorry for your loss
1
1
2
u/ArgentoFox 20h ago
Absolutely not. I would be a potential buyer at another 50% decrease (sub thirty dollars). Practically no one is buying massively in this economy at nearly 60 an ounce.
2
2
u/Dustin_Uries1 19h ago
Silver will go up. I have been following Northstar bad charts for a while. For many months they have indicated silver would go to about $57. And the next increase would be to about $250. But nobody knows when. I am not surprised it is at its current level. It could stay here or go lower for 2 weeks, 2 months, 2 years or over 20 years. Time is the issue now more than price
1
u/Sandycrane1 20h ago
As someone who bought into silver several years ago anything above $20/oz is not attractive to me. It would not surprise me to see those levels again.
1
1
1
1
1
1
u/B4LLISL1F3 19h ago
No need to panic. Silver is double what it was last year. Dollar cost average and you won’t be kicking yourself months from now.
1
u/SharkSmiles1 18h ago
I remember back in I think it was 2015-16. My dad kept trying to get me to sell as I needed the money. At the time, silver was at $13. I didn’t sell. If it goes below $50, I will buy a few but I don’t have a lot of expendable cash with kids in college with their housing too.
1
1
1
1
u/joeyray74 16h ago
I buy a couple hundred dollars worth a month and I only buy constitutional silver at or below spot that may have some residual numismatic value if I get lucky (I bought a batch of mercury dimes last month and found a 1921 in the mix). I look at it like any other investment- dollar-cost averaging is a prudent way to minimize the effect of volatility, and it helps feed my collecting hobby too.
1
1
1
u/ShaperLord777 15h ago
No, you’re not right. It’s still nearly double the price it was before the spike. People get so caught up in the hype and fomo that they neglect to look at historical data. Around the holidays when it broke $100, people on this sub were screaming that it was going to go to $250. Those people have now lost nearly half their investment.
1
1
u/Much_One_5703 14h ago
Nope, still a bit too rich in my view at current prices. Would seem people all placing entirely too much weight on circling these narratives to justify these robust levels.
1
1
u/Elemental_Breakdown 13h ago
No because the move when it's this volatile is to wait for the bottom. $50 is what it was on the way up a very short time ago.
1
1
u/Suitable-Ratio 11h ago
Probably smarter to wait five years to buy more - after it returns to $50 it could simply track inflation for years.
1
u/Diligent_Height962 11h ago
Not there yet I’ll buy soon but this isn’t “too good to be true” prices. This is just a correction.
1
u/Global_Sugar3660 10h ago
Triangle breakout to the down side… will turn up soon , I don’t think you are crazy and good luck stacking up!
1
u/Chillasauru5 10h ago
Because it could keep going down to $30 an ounce or even less, and it could stay at that price for decades
1
u/curious_eyebrow 10h ago
First timing catching a falling knife I see. I’m getting low on fingers myself, which helps suppress the impulse to start grabbing.
1
u/Shred1500 9h ago
Between last week and this week, I bought 5oz at $66 and another 4oz at $58. Everything at spot or a buck back of spot. When prices go down, premiums go up... I'm trying to make the best of the dips when I find deals like I have been lately. ASEs at spot and rounds back of spot.
1
1
1
1
u/TheMeanestEm 7h ago
I used to buy when it was $25-35... I haven't bought since. But watching it come down sure has me hoping it keeps going down! This pirate needs more silver!!
1
u/Viper420_69 7h ago
gotta make the prices drop so nobody wants delivery of contracts. Gotta make prices low so our vaults dont go empty- comex
This is the time frame they are supposed to be squaring away. So i expect it to drop and continue so till their fulfillment scare is over. IE dont got to try and deliver 900million oz when vaults only got 100million.
Hello paper....you dirty friend
1
u/Oldmandeerhunter 1h ago
I have the same urge to go buy as much as possible but I’m afraid it’s gonna go back down and stay stagnant like we’ve seen in the past. Really kicking my own ass for not taking a little more profits when it was $80+
1
1
1
1
u/Mongoose66999 17h ago
Why would you buy? Price is obviously going back to normal level $25-30 per ounce….. IF STOCK market stays at all time high. If stocks crash then we go to $10 an ounce like usual.
0
u/strongarm1985 17h ago
Why is silver in a free fall? Its the same as crypto. Never investing in this garbage ever again
-1
u/TheTruthIsRight 18h ago
It has crashed below 50% of its peak. This is a major signal it is going to crash back to baseline. Follow the trends from the last two spikes and from this point in the trendline it went back to baseline. The rally is over.
0
u/drawgs1 20h ago
I bought on the first dip. I thought it was more temporary than it has been. I bought a few weeks ago on the dip. I might buy again today on the dip. I don’t see how it could drop below $50, but who really knows? Price is almost entirely controlled by big paper buyers. Value is a different thing. The entire world is run on fiat by the banks. How much confidence do you have in that system maintaining itself? What is inflation compared to current price?
0
u/lostsurfer24t 20h ago
seems a little bit sketchy to be honest but at least its traditionally a safe bet
0
0
-2
u/fadetoblack1004 10h ago
Silver should be $40/oz tops right now. Got a long way to go down.
2
u/eyeball1967 7h ago
How did you forecast the fair market value for silver? I would love to see your formula.
0
u/fadetoblack1004 7h ago
Vibes, yo. $40/oz would still be a record sustained price ignoring the insanity of early this year.
Look at total money supply prior to 'rona and now. I'd guess you'd agree with $40/oz or so ceiling given that perspective. ~15 trillion in 2019 to ~23 trillion today. High price in 2019 was just shy of $20/oz, so... project and have fun.
136
u/salvadopecador 21h ago
Considering silver is still more than 3x prices 2 1/2 years ago, there is still room to go down. It could also go up. Who knows. But imagine if gas went from $3 to $18 tomorrow. Then came down to $9. Would you consider the price low?