If silver were to run up to $50 per troy ounce again ...
291fifth
Posts: 24,694 ✭✭✭✭✭
... how many of the items in your collection would you consign to the melting pot?
Which would be the first to go?
Don't all rush to sell your silver proof sets!
All glory is fleeting.
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I have some bullion for just this reason, the coins in the collection, few would get sold....
My YouTube Channel
ASE bullion goes where bullion goes... $$.
Nothing. I don't have any "junk silver."
Most coins were not melted during the two big runs on silver. There was no reason to melt them as the silver content is known. They were just traded over and over and over again. Scrap/damaged/etc silver coins may have hit the melting pot but I suspect that even that was a very small percentage.
bob
People would start calling coin shops again asking if it was going to go higher.
Yeah, of course, I've got silver widgets. We all do.
Don't happen to spend a lot of my time planning out a rosy scenario.
The best, most professional and best-capitalized bullion buyer in our area has retired, and the number two guy is pushing 70. Who to sell to next time is going to be a problem.
The supply would decrease as demand increased. Same as it ever was
``https://ebay.us/m/KxolR5
I could retire....oh wait...I already retired
I guess I never restocked my supply of widgets after selling them when silver reached $40 and a local B&M gave me almost $35/oz...
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That's why I have bullion.
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True story on the last silver run up..............My wife and I had a dozen silver place settings(5 pieces each), and a bunch of serving pieces, etc, and decided to take advantage of the run and sold it. At first, Linda said no way and then I explained that silver will come back down and we'll buy it back cheaper....she agreed and we did. Made out like bandits when we bought back a year later.
bob
No one is able to get out near the top usually, the fall is precipitous. I still had a monster box or two regrettably after the last fall. On the last run up I had been at the Parsippany show and later spoke with a bullion dealer who had been there buying....I asked how he made out, did he take a big loss, as the price dropped on Monday? He said before he walked out to the parking lot he locked in his sell.
The last run up I went through my inventory and sold several thousand ounces of World Silver coins. Can't remember how many US coins...but I used to put out notebooks of widget type stuff and realized some of the stuff was priced maybe a hair more than 1/2 melt...yeap off they went! Had been hoarding Jefferson nickels and raided all the war nickels out of around Circ.100 sets.
I did not pay much attention during the last run up, but if it hits 50 again that would be a trigger point for me now. I'd squeeze the accumulation and decide which one SE of each date was for my collection and which ones were expendable. And all the circulation silver finds I keep for nostalgia would be gone.
I should add...I would be VERY satisfied with $30
I suspect there would be no shortage of buyers. Herd mentality.
I'd sell every single ounce, then I'd sell as much paper silver that my broker would allow then patiently wait to buy back again…..in the teens.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
100% of my 90% junk silver goes anytime silver hits $39/oz. That's my trigger.
Dave
So do you still have near 100 circulated sets of Jeffersons missing the war nickels?
a set of six 1912 Birmingham silver teaspoons I purchased in Dublin. At $50 oz, I'm 75% to break even (one costly education in antique silver...)
I would sell all of my silver bars and bullion rounds. I would keep my coins and all of my gold.
About $3.00 face value of "junk" dimes and quarters that I have accumulated from circulation over the years.
Off to Apmex it would go! I might save a few things but not much.
Jim
$50 is my start selling trigger.
No Way Out: Stimulus and Money Printing Are the Only Path Left
LOL! Yes....probably another 100 I could assemble from rolls!
I would love to see silver spike again. Much of the damaged, cleaned junk would find its way into a melting pot.
All my cull 90% first.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Starting at $40/oz, maybe even $35/oz the following would go in the following order.....
1 - common foreign silver coins
2 - rolls of BU Canadian dollars
3 - circulated 90% junk silver
4 - silver proof sets
5 - BU rolls of 90% dimes and quarters
6 - BU rolls of Franklin halves
it's crackers to slip a rozzer the dropsy in snide
@BillDugan1959 ...I'll be your huckleberry. But, the real question is: Should I rush out and buy all the silver I can now while its still around 15?
Definitely not buying.
Silver could hit $9 sooner than $25 - higher interest rates are meant to beat the proverbial material out of speculators. But do what you wish. I was buying physical silver eight or nne months ago at closer to $19.
Just wait for the new housing bubble and corporate debt bubbles to pop. The rates will go down again. The last housing market crisis that precipitated the 2008 collapse was caused at least in part by two years at a 1% fed rate. We have had seven or eight years at 0% and three rounds of quantitative easing (basically cooking the books) that the market still has not fully absorbed. The Fed is trying to pull off a soft landing, which has only been done successfully once before.
Good then I'll just hang on to my paper for now
Sell at $46
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Interesting yet confusing, so your saying silver will rise again soon er or later?
I know you are a lot smarter than me, but I boatloads of coins being melted. Worn coins, foreign coins, common 90% hit the pot. Yes, they are known, but a 100 bar at 99.99 is easier to stack.
Probably 60% of all my silver would go to melt.
I think we are due for a repeat. I think the current economic indicators are a chimera and that the market has only superficially/nominally "recovered" and is not healthy. I expect precious metals to do exactly what they did during the 2008 financial crisis and during the recovery.
So Yes, there going up at some point
Yes, that's my prediction. I obviously don't have a crystal ball though.
Well, I submit if a certain party gets there way then the market will certainly crash.
I'm not smarter by any means. But, I was dealing during this time period and this is my observations. Why would someone spend the money to melt and refine 90% silver when the Gov't has already done that? I understand foreign and problematic coins would go into the pot along with all sorts of jewelry and silverware.
bob
As an aside. At what price point on the spot would you send your palladium eagles off for melting?
I don't have anything in my collection anywhere near bullion price, so nothing there, but many of my customers who have been hoarding for years who didn't get out at the top last time, will get out this time, and for less than 50. most I believe are in the 35-40 camp. between the few that I know confidently, id guess somewhere in the 40-50k oz that will be dumped locally.
I would likely sell some album ASE's...there are always those riding the rise....Probably keep my proof ASE set... I like them...The album ASE's would just be on opportunity to capitalize on the PM market...Cheers, RickO
I suppose I’d be able to sweep something from a few corners and sell at 50, just wonder what the buying power of 50 dollars will be by the time this finally happens.
I would dump everything
BHNC #203
I bought silver way back when in the single digits and then sold most of it in the teens and low $twenties. When Silver was roaring and in the high $30's, low $40's I considered taking out a home equity loan (my home was fully paid off) and buying a few thousand ounces.
I can't believe I just admitted that. I didn't do it, but I considered it. That is the power of a mania.
I can't see silver going anywhere near $50 again in my lifetime. Too many people are holding it at $25-$45. The selling tsunami of silver would keep prices down far below $50.00 if there were another surge.
Here are the assets classes at the bottom of my investing list (in no particular order)
Beanie babies
"investment grade" diamonds
Silver bullion
"rare" coins
Tulip bulbs
Rust Rare Coins "Silver pool".
$50 an ounce then I would have some things I would like to get rid of.