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On this day, 43 years ago, December 12, 1979...

cohodkcohodk Posts: 19,118 ✭✭✭✭✭
edited December 12, 2022 7:06PM in Precious Metals

...silver closed over $20 for the first time ever.

https://sdbullion.com/silver-prices-1979

Excuses are tools of the ignorant

Knowledge is the enemy of fear

Comments

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,288 ✭✭✭✭✭

    I'd just gotten out of the army the month before. ( first tour). And some months later silver was nearing $50 per oz. What a ride.

  • VanHalenVanHalen Posts: 3,984 ✭✭✭✭✭

    Using the CPI alone that $20 silver in 1979 would be closing at over $82 today.

  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭

    @VanHalen said:
    Using the CPI alone that $20 silver in 1979 would be closing at over $82 today.

    If that $20 was in the US Stock Market it would be $2,404.
    🎤

    image
  • VanHalenVanHalen Posts: 3,984 ✭✭✭✭✭

    @ChrisRx said:

    @VanHalen said:
    Using the CPI alone that $20 silver in 1979 would be closing at over $82 today.

    If that $20 was in the US Stock Market it would be $2,404.
    🎤

    That calculation comes out to 12% average growth per year! Double digit growth for 43 straight years!? Take that $2,404 today and get 12% annual for 43 more years yields over $314,000.

    It's important to remember The Fed will have to continue pumping the equity markets for that to happen. There are limits as to how twisted we can wind the clock. There will be a midnight regardless of how many times they hand the keys to Wall Street.

    Americans are drunk on free money and they aren't going sober up until the keys to the liquor cabinet are removed. The Greatest Generation paved a golden road for the Greediest Generation. Enjoy it while it lasts my friends.

    Peace.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Silver hit $24.10 a few minutes ago, but likely will not hold... short peaks and valleys lately....but trend is up. Cheers, RickO

  • JimTylerJimTyler Posts: 3,391 ✭✭✭✭✭
    edited December 13, 2022 3:46PM

    🎄🎄🎄🎄🎄🎄🎄🎄🎄

  • blitzdudeblitzdude Posts: 5,891 ✭✭✭✭✭

    The lost gutter generation. 43 years later and they are still underwater. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • dcarrdcarr Posts: 8,460 ✭✭✭✭✭

    @blitzdude said:
    The lost gutter generation. 43 years later and they are still underwater. RGDS!

    On this day 30 years ago silver was $3.72 .
    30 years later and the short sellers are still under water.

    Moonlight Mint
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,288 ✭✭✭✭✭

    @blitzdude said:
    The lost gutter generation. 43 years later and they are still underwater. RGDS!

    How does one get under water, on a mountain ?

  • johnny9434johnny9434 Posts: 28,326 ✭✭✭✭✭

    @TwoSides2aCoin said:
    I'd just gotten out of the army the month before. ( first tour). And some months later silver was nearing $50 per oz. What a ride.

    1979 is the last time i said i do :/ (us army)

  • OPAOPA Posts: 17,120 ✭✭✭✭✭

    @dcarr said:

    @blitzdude said:
    The lost gutter generation. 43 years later and they are still underwater. RGDS!

    On this day 30 years ago silver was $3.72 .
    30 years later and the short sellers are still under water.

    So in 13 years from the op's post, silver dropped from $20 to $3.72. It's amazing what you can accomplish with certain dates in your calculation. Don't forget the recent high of almost $50 in 2011. Timing in buying & selling is the key to success with this asset. Come to think, with any asset.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,845 ✭✭✭✭✭

    The lost gutter generation. 43 years later and they are still underwater. RGDS!

    43 years ago, I made enough money on silver and gold minicontracts to afford a getaway A-frame in the woods AND to pay for my ex-wife's law school education. I made more in one day than my annual salary at that time.

    What I didn't do was hold onto all of my positions for 43 years. Get real, man.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,118 ✭✭✭✭✭

    Dec 24, 1979, 15,706 days ago silver closed higher than today.

    https://www.timeanddate.com/date/durationresult.html?m1=12&d1=24&y1=1979&m2=12&d2=24&y2=2022

    Merry Christmas to all. May your day be filled with joy and remberance.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,288 ✭✭✭✭✭

    Happy New Year. Read the tea leaves. Buy the dip. Take a sip.

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    Happy New Year. Big year ahead for Oil, Nat. Gas, Gold and $ilver. I think ;)

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • carew4mecarew4me Posts: 3,471 ✭✭✭✭

    Billboard Year-End Hot 100 singles of 1979
    No. Title Artist(s)
    1 "My Sharona" The Knack
    2 "Bad Girls" Donna Summer
    3 "Le Freak" Chic
    4 "Da Ya Think I'm Sexy?" Rod Stewart
    5 "Reunited" Peaches & Herb
    6 "I Will Survive" Gloria Gaynor
    7 "Hot Stuff" Donna Summer
    8 "Y.M.C.A." Village People
    9 "Ring My Bell" Anita Ward
    10 "Sad Eyes" Robert John

    Top-rated United States television programs of 1979–80
    Rank Program
    1 60 Minutes
    2 Three's Company
    3 That's Incredible!
    4 Alice
    5 MAS*H
    6 Dallas
    7 Flo
    8 The Jeffersons
    9 The Dukes of Hazzard
    10 One Day at a Time


    Loves me some shiny!
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