The year was 1980....will that height be seen again for silver?
Goldbully
Posts: 17,521 ✭✭✭✭✭
Close of 1980 was not so good, eh?
1
Goldbully
Posts: 17,521 ✭✭✭✭✭
Comments
IMO ... Easy.
Adjust that $49.45 in 1980 $$$ for inflation.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Whoa, great point!!!!!!
Actually the all time high for silver was set on April 28, 2011 @ $49.51 per oz. I remember it well.
https://www.reuters.com/article/us-silver-record-idUSTRE73R55520110428
Too lazy to determine the accuracy of this calculator but $154.71 in today's dollars. I'll take it. lol
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
😎
Well... I think this PM roller coaster still has a way to go... so hold on, going to be fun for a while. Cheers, RickO
Not this year.
1980 high was the result of attempt to corner the supply of silver by the Hunt brothers. Their buying drove the price up. One time event. Rules put in place after the fact to prosecute them or anyone who attempts to do so in the future.
When silver breaks that record it will be for very different reasons. Reasons will be similar to what was caused 2010 high: central bank mismanagement.
Repetition of ignorance is ignorance raised to the power two.
I vote higher but am bias cause I like shiney stuff...
As @ricko said, this roller coaster is just getting going so buckle your seatbelt dorthy...
It's all about what the people want...
Copper mines out put effect Silver supplies in a big way as a by product of Copper mining. My crystal ball shows Silver trending higher.
100% Positive BST transactions
i was too young to remember, my dad said he sold some silver in 1980
I purchased silver aggressively in 2011 through about $24 into 2012. Before that I had some, mostly vintage bars and rounds, a 1 kilo round my father gave me, and assorted collectible sets like when the Skins won the SB in 92. Just before it peeked, I sold everything I could find around $47, even sold any gold I could find including all jewelry.
Silver detached, we barley got to 70:1 this time.
1980 was about 17:1
2012 was about 35:1
Outside of playing paper silver during a run up, gold has become the best form to hold long term and preserve value.
From my perspective, silver was best to stack when it was available to buy physical, pre-covid, at close to $18 and under.
I do not see how silver will cover the current premiums to make it worth stacking right now or any time in the near future.
I remember it also, I made a nice profit on my 150 ASE purchased at $16 an oz!
🇺🇸 Harlequin Numismatic
harlequinnumismatic@gmail.com
And what was the 2010 high price?
$30.98. High in 2011 was 49.82.
Knowledge is the enemy of fear
I had a friend who didn't like coin dealers. WGY coin offered him $54 per coin for a 2 ounce "one hundred greatest masterpieces by Franklin Mint, back in 1980. He said; Pooh to that offer. He sucked on those 100 two ounce coins until about 2011 or so. He got offered $54 per coin again by a dealer. He jumped on it. He felt good about his deal.
LOST ........Opportunity Cost for 31 years????????? Off the hook, lest you could graph it for me. The End
2011 was an attempt by JPM to artificially inflate the silver market just like the Hunts did in 1980. It remains to be seen how high those that are manipulating this go round can make it go. Hopefully they can get it to 1980/2011 levels before the collapse. Without manipulators silver is a $5-$15/oz gutter metal.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I’d buy all the silver you have for your $10/oz. gutter metal average price. Offer good for the next 24 hours. Let me know!
I knew it would happen.
Thanks for the offer but the plan is to sell it into the current pump.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Some people are already paying $100 for pf70 in special plastic. They are already paying 40 for raw libertad, maple. $50 ms70 cutesy plastic. Aus, UK, Canadian commems are all super hot. SP70 silver krugs are just breathtaking profits.
Anyway, if its gonna tank, I hope it does so I can't imagine my excitement for these metals lapsing at all during this pandemic. What's happening right now is literally the stuff Hollywood makes horror movies about. It's the stuff you were warned about in history class as a kid. It's the stuff people use as examples when teaching you hygiene and public health awareness.
As gold gets higher, people who delayed buying it (and are now running out of resources) wont be able to get in on gold will buy silver. Sure it's not gold, but it can be transported easy, has recognizable US symbols, and who would turn it down in a trade?
Meanwhile, in Turkey:
https://www.helleniscope.com/2020/08/16/in-turkey-locals-sell-their-cars-and-houses-to-buy-gold-while-lira-implodes/
Exactly I plan to exit the gutter just south of $154.71, not interested in $10 except maybe paper silver buy back in price. Good luck!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
At least legos have held value.
Knowledge is the enemy of fear
more likely the currency they are priced in has lost value
Repetition of ignorance is ignorance raised to the power two.
>
Sounds like a bunch of bagholder "collector/investors" burying themselves in overpriced common crap for another generation.
Liberty: Parent of Science & Industry
Thank you!
Outperformed silver.
Knowledge is the enemy of fear
maybe yours, but not mine.
Repetition of ignorance is ignorance raised to the power two.
Well, because you are God and all your silver has a zero cost basis.
Since 1980, which is the refrrence of this thread, legos have held value better than silver. Keep on topic derryb.
Knowledge is the enemy of fear
You stack the legos, I'll stick with the silver. LOL
Repetition of ignorance is ignorance raised to the power two.
Actually, no. The retail price of Legos has held - which is a reflection of the price set by the company and margin of the retailer. You would need to do an analysis of Legos in the secondary market to determine how well they held their value.
Well, actually, the chart i posted above shows one would need 10c to buy a lego in 1980--same as today.
Yet, it cost $40 to buy an ounce of silver in 1980 vs $27 today.
However, if you wish to peruse Ebay you will see that many lego sets have appreciated considerably since 1980 while silver has depreciated. I was trying to be kind and not expose this fact, but since you brought it up.
Knowledge is the enemy of fear
pawn shops buy and sell legos by the pound
All that shows is Lego's parent company has no pricing power - and lowered their cost of production.
Why you are perusing eBay look for those silver items that have appreciated considerably since 1980 - I sold a 2 oz bar for $350...
What it shows is that it takes fewer dollars today to buy silver than in 1980. While same cant be said about legos
BTW---i bought a nickel for a buck and sold it on Ebay for $20. I bested your return and only took me a week. So there. Lol
Knowledge is the enemy of fear
Well - in 2013 anyway.... and as I said, I could get more for my 'used' silver than I could for my used legos...
Coca Cola 1oz silver rounds and bars have actively sold (been collected) and $40 each and higher when silver was stagnant at $15. Many "collector" silver widgets trade at large premiums.
As far as LEGOs go. Let's put real numbers together. Let's go with 1964 and older generic US coinage. The majority of Lego's are circulated. The majority off collectors will not purchase old used Lego's for a premium, just the few well preserved sets that people stored away. On fleaBay collectors pay heavy premiums for uncirculated pre- '65 US coins on top of small premiums for all others regardless of wear. All silver has maintained stored value. Legos do not, but can be stored none the less.
Legos? Did someone say Legos?
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I wanted one of those but, DANG the premium my G&S store wanted was nuts.
In my real world experience, silver hands down over legos.