The spot price for silver is between twenty-six and twenty-seven federal reserve notes per ounce, and has been there for a couple days. In fact, it has been under thirty for the better part of six weeks. Anyone who has been following the precious metals market for more than a few months knows that this is an open invitation to buy. Hell, I “bought” some two years ago at thirty-seven. Probably not so smart, but the guy owed me, and he had silver.
My PM portfolio is already silver heavy at about fifty-seven percent based on current spot prices. It is a lot easier to come up with fifty to sixty bucks for two ounces of silver than it is to save up the better part of two C-Notes for 1/10 ounce of the yellow metal – the smallest coin commonly available. One-gram gold bars are available for about the same as two ounces of silver, but I prefer coins.
I’ve been dabbling in precious metals for well over ten years. Recently, I’ve been buying a little bit every month. I’m torn at the moment. Do I pick up a few ounces of silver now while the price is so inviting, or should I ignore the “buying opportunity”, wait another payday and get a $5 Eagle like I had planned? Or do I wait a little longer and get a gold quarter Eagle, getting a better cost-to-weight value as compared to the smaller 1/10?