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Silver $12.13

dennis1219dennis1219 Posts: 267 ✭✭✭
in Precious Metals

When does it become to costly to mine at these prices? Will mines shut down causing a future shortage?

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    OPAOPA Posts: 17,104 ✭✭✭✭✭

    Did you mean to say: $11.77? Miners don't need to mine any additional silver...there is a glut of existing silver available. Keep in mind, that 50% of silver is used for industrial purposes and with industry shutting down, there is no need for silver.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    blitzdudeblitzdude Posts: 5,460 ✭✭✭✭✭

    Hardly anyone "mines" silver. Most of the silver pulled out of the ground is simply a byproduct of mining for copper.

    I guess if it becomes cost prohibited to mine copper we could see a shortage but keep in mind, there are billions and billions of ounces above ground and at present industry doesn't even want it.

    The whole worlds off its rocker, buy Gold™.

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    RWMRWM Posts: 205 ✭✭✭

    A good time to get in to silver?

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    crazyhounddogcrazyhounddog Posts: 13,816 ✭✭✭✭✭

    $11.79 an ounce now.

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
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    crazyhounddogcrazyhounddog Posts: 13,816 ✭✭✭✭✭

    @RWM said:
    A good time to get in to silver?

    I stock up right now if I could just find some at that price. It can’t be done,

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
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    RWMRWM Posts: 205 ✭✭✭

    @crazyhounddog said:

    @RWM said:
    A good time to get in to silver?

    I stock up right now if I could just find some at that price. It can’t be done,

    Good point. The other thread makes it sound like it can't be done.

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    OPAOPA Posts: 17,104 ✭✭✭✭✭

    @RWM said:

    @crazyhounddog said:

    @RWM said:
    A good time to get in to silver?

    I stock up right now if I could just find some at that price. It can’t be done,

    Good point. The other thread makes it sound like it can't be done.

    Wait until reality sinks in. There will be plenty of silver available at depressed prices :(

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    @OPA said:

    @RWM said:

    @crazyhounddog said:

    @RWM said:
    A good time to get in to silver?

    I stock up right now if I could just find some at that price. It can’t be done,

    Good point. The other thread makes it sound like it can't be done.

    Wait until reality sinks in. There will be plenty of silver available at depressed prices :(

    or sour grapes that no one got to load up at the bottom because sellers wouldn't sell

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    PROMETHIUS88PROMETHIUS88 Posts: 2,823 ✭✭✭✭✭

    @bronco2078 said:

    @OPA said:

    Wait until reality sinks in. There will be plenty of silver available at depressed prices :(

    or sour grapes that no one got to load up at the bottom because sellers wouldn't sell

    Are they really "sellers" if they don't sell???

    Promethius881969@yahoo.com
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    bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    @PROMETHIUS88 said:

    @bronco2078 said:

    @OPA said:

    Wait until reality sinks in. There will be plenty of silver available at depressed prices :(

    or sour grapes that no one got to load up at the bottom because sellers wouldn't sell

    Are they really "sellers" if they don't sell???

    what are you my english teacher? :D

    Very well then , they came charging out with their credit cards in hand and were upset that every ounce of silver they suddenly wanted was not available.

    Felt it was unfair or summat

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    derrybderryb Posts: 36,210 ✭✭✭✭✭

    where's the 10% bonus bucks when you really could use it?

    Give Me Liberty or Give Me Debt

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    WCCWCC Posts: 2,386 ✭✭✭✭✭

    @OPA said:

    @RWM said:

    @crazyhounddog said:

    @RWM said:
    A good time to get in to silver?

    I stock up right now if I could just find some at that price. It can’t be done,

    Good point. The other thread makes it sound like it can't be done.

    Wait until reality sinks in. There will be plenty of silver available at depressed prices :(

    Exactly. Back in 2008, it took five months for silver to crash from $21 to $8.39.

    Now, the same dynamic (deflationary contraction in asset prices) has just started and it's already under $12.

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    OPAOPA Posts: 17,104 ✭✭✭✭✭

    silver as of 11:16 PM EST... bring on the roller coaster B)

    Silver........ 12.52..... +0.41

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    derrybderryb Posts: 36,210 ✭✭✭✭✭

    @WCC said:

    Exactly. Back in 2008, it took five months for silver to crash from $21 to $8.39.

    Now, the same dynamic (deflationary contraction in asset prices) has just started and it's already under $12.

    A lot more air was released a lot more quickly from the latest equity bubble. The dash to cash occurred in a much quicker period of time. While current bubble is not completely deflated, it lost a lot of air quickly. While the DOW will continue to fall I believe PM's will see a sharp slowing in their ride down. I'm looking at paper plays (ETFs) for the next PM move up.

    Give Me Liberty or Give Me Debt

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    WCCWCC Posts: 2,386 ✭✭✭✭✭

    @derryb said:

    @WCC said:

    Exactly. Back in 2008, it took five months for silver to crash from $21 to $8.39.

    Now, the same dynamic (deflationary contraction in asset prices) has just started and it's already under $12.

    A lot more air was released a lot more quickly from the latest equity bubble. The dash to cash occurred in a much quicker period of time. While current bubble is not completely deflated, it lost a lot of air quickly. While the DOW will continue to fall I believe PM's will see a sharp slowing in their ride down. I'm looking at paper plays (ETFs) for the next PM move up.

    Yes, it's faster but the economic fundamentals are worse (much worse) than 2008. The current bubble (which is the same one from 2008 which never ended) isn't even close to being fully deflated.

    I'm assuming there was limited forced selling in physical metals (and coins) because the financial duress was temporary. If this mania is really over, that's not going to be true this time. There is no reason to believe that most who own the physical metal are that well off where they are going to be able to afford to maintain their position (much less increase it) even as their pay is cut, they lose their job and/or their net worth declines or crashes.

    It depends upon the time horizon you have in mind. At some point under the scenario I see, people will be selling what they must to raise liquidity to pay their bills.

    Silver isn't overpriced but it's going to be affected by the selling in (practically) everything else.

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    jmski52jmski52 Posts: 22,380 ✭✭✭✭✭

    Silver isn't overpriced but it's going to be affected by the selling in (practically) everything else.

    Looks like that's already happened. It seemed to correlate to some degree with the decline in the stock market.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    derrybderryb Posts: 36,210 ✭✭✭✭✭

    don't lose sight of an important fact: there's a fire sale on futures contracts, not on physical metals

    Give Me Liberty or Give Me Debt

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    jmski52jmski52 Posts: 22,380 ✭✭✭✭✭

    don't lose sight of an important fact: there's a fire sale on futures contracts, not on physical metals

    ebay sales confirms that this is the situation.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    heavymetalheavymetal Posts: 570 ✭✭✭✭

    First up, I’m a complete layman here on this subject.

    That being said, our Government is throwing out numbers in the trillions of dollars to stave off economic collapse caused by Covid 19. Where is this money coming from? My guess is from a few keystrokes on someone’s computer. One of these days, that “ computer” is going to “blue screen.” If that is the case, I want the insurance provided by PMs held in my hands. Now some say that should that day come, ammo will be the new currency. If that is the outcome, it really doesn’t matter what investments we have, they’ll all be worthless. I’m hoping that we, as a civil society can hold it together enough that the things we have valued over centuries like silver and gold will hold their value as opposed to the paper currency which isn’t really much different than “Monopoly Money “ and has only been in existence for a relatively short period of time. That is this layman’s rational for keeping his PMs.

    Thank you to all of the posters on this board who add to the education of all who read here.

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    OPAOPA Posts: 17,104 ✭✭✭✭✭

    @heavymetal said:
    First up, I’m a complete layman here on this subject.

    That being said, our Government is throwing out numbers in the trillions of dollars to stave off economic collapse caused by Covid 19. Where is this money coming from? My guess is from a few keystrokes on someone’s computer. One of these days, that “ computer” is going to “blue screen.” If that is the case, I want the insurance provided by PMs held in my hands. Now some say that should that day come, ammo will be the new currency. If that is the outcome, it really doesn’t matter what investments we have, they’ll all be worthless. I’m hoping that we, as a civil society can hold it together enough that the things we have valued over centuries like silver and gold will hold their value as opposed to the paper currency which isn’t really much different than “Monopoly Money “ and has only been in existence for a relatively short period of time. That is this layman’s rational for keeping his PMs.

    Thank you to all of the posters on this board who add to the education of all who read here.

    The same scenario was widely publicized 12 years ago. I don't believe It's gonna happen any time soon or ever. PM's, for the last 12 years, were just as risky as the stock market with major up & down swings. Live life as you normally would and ignore or downplay all the doomsday scenarios. That's my take.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    derrybderryb Posts: 36,210 ✭✭✭✭✭

    @heavymetal said:

    Thank you to all of the posters on this board who add to the education of all who read here.

    Take it with a grain of salt, confirm what your read. If they (we) were professionals they (we) would be getting paid.

    Give Me Liberty or Give Me Debt

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    dpooledpoole Posts: 5,940 ✭✭✭✭✭

    If they (we) knew what they (we) were talking about, they'd (we'd) all be rich!


    Here's a warning parable for coin collectors...



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