Home Precious Metals

If Silver breaks out, what will you do?

If Silver gets to $50 ozt., I think I will trade out for gold. G/S ratio would most likely have moved back to closer to 60:1by then.
Besides, I need to free up some room in my safe. 2k rounds take up quite a bit of space.

P.S. I will keep all the junk silver for barter purposes.

Comments

  • derrybderryb Posts: 36,022 ✭✭✭✭✭

    I'll take profits and wait for silver's volatility to buy back in. Ride the roller coaster, but remain strapped in.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • Yelling at clouds on pmbug.com

  • GoldFinger1969GoldFinger1969 Posts: 1,165 ✭✭✭✭
    edited January 22, 2024 9:55AM

    Come here to read the posts about why silver is destined to go higher than gold. :D

  • blitzdudeblitzdude Posts: 5,293 ✭✭✭✭✭

    Pretty sure there is about a zero chance of a gutter breakout, Breakdown is much more likely. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • handymanhandyman Posts: 5,235 ✭✭✭✭✭

    Well would anyone on here be willing to keep buying if it hit 50.00? Probably a very small amount will. Me I would dump with the other 99.999%. So I’ll wait for 49.00 to be safe.

  • rte592rte592 Posts: 1,385 ✭✭✭✭✭

    Who's buying at $45?
    I have a few pieces I'd part with.
    Who's buying at $55?
    I have a few more pieces I'd part with.
    Who's buying at $65?
    I have a few more pieces I'd part with.
    Who's buying at $85?
    I have a few more pieces I'd part with.
    Who's buying at $95?
    I have a few more pieces I'd part with.

  • rte592rte592 Posts: 1,385 ✭✭✭✭✭

    @handyman said:
    Well would anyone on here be willing to keep buying if it hit 50.00? Probably a very small amount will. Me I would dump with the other 99.999%. So I’ll wait for 49.00 to be safe.

    Depending on what vintage silver you have, YES, I'm a buyer at $50.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,758 ✭✭✭✭✭

    2/3 of BST is BS.

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭
    edited January 23, 2024 9:34AM

    Who is still buying above $50 ?

    Maybe the person who hastily sold their entire holdings @49

    It's all about what the people want...

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    what would Bear do!
    has he been gone 10 years?

  • cohodkcohodk Posts: 18,496 ✭✭✭✭✭

    @bronco2078 said:
    what would Bear do!
    has he been gone 10 years?

    I wonder what happened to his PMs?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    @cohodk said:

    @bronco2078 said:
    what would Bear do!
    has he been gone 10 years?

    I wonder what happened to his PMs?

    i seem to remember he invested in a lot of coins for posterity then suddenly dumped them ? his inheritors didn't care or he decided not to leave them . Didn't a forum dealer auction off his collection while he was still alive?

    I remember thinking something stunk about the whole process . With PM's maybe the same thing happened

    there was something ugly about the whole process

  • Downtown1974Downtown1974 Posts: 6,675 ✭✭✭✭✭

    @LukeMarshall said:
    Who is still buying above $50 ?

    Maybe the person who hastily sold their entire holdings @49

    Anyone looking for older, unique poured bars. A 3 oz. poured Engelhard will run you north of $300 an ounce.
    Definitely not stacker material.

  • BearlyHereBearlyHere Posts: 261 ✭✭✭✭

    You guys are missing a very important factor or two. Silver has tremendous industrial demand. Mexico (world's largest producer) has indicated their reserves may be gone in 2025.
    Who buys at $50? Tesla, Tomahawk missile manufacturers, solar panel co.s, etc...

    PS, Anyone notice GSR this week hit 90:1?

  • 3stars3stars Posts: 2,278 ✭✭✭✭✭

    Heck, I'm selling at $30

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • cohodkcohodk Posts: 18,496 ✭✭✭✭✭

    Naked short sell it back to $20. HAHA

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • rte592rte592 Posts: 1,385 ✭✭✭✭✭

    @BearlyHere said
    PS, Anyone notice GSR this week hit 90:1?

    I didn't...
    I did stop short of bidding over $50 an ounce the other day for a silver round.

  • hfjacintohfjacinto Posts: 734 ✭✭✭✭✭

    If silvers hit $50, I'll sell the majority and put a down payment on a Mustang convertible.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,758 ✭✭✭✭✭

    @BearlyHere said:
    You guys are missing a very important factor or two. Silver has tremendous industrial demand. Mexico (world's largest producer) has indicated their reserves may be gone in 2025.
    Who buys at $50? Tesla, Tomahawk missile manufacturers, solar panel co.s, etc...

    PS, Anyone notice GSR this week hit 90:1?

    Methinks many are missing a greater point. The US Mint has been selling out the new Morgan and Peace dollars for $80+ and they’re reselling in the market for a buck-fifty ($150) . Not even a full ounce. And let’s not pretend they’re anything more than bullion NCLT.

  • BLUEJAYWAYBLUEJAYWAY Posts: 7,817 ✭✭✭✭✭

    Profits are always welcome.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • TomBTomB Posts: 20,613 ✭✭✭✭✭

    @bronco2078 said:

    @cohodk said:

    @bronco2078 said:
    what would Bear do!
    has he been gone 10 years?

    I wonder what happened to his PMs?

    i seem to remember he invested in a lot of coins for posterity then suddenly dumped them ? his inheritors didn't care or he decided not to leave them . Didn't a forum dealer auction off his collection while he was still alive?

    I remember thinking something stunk about the whole process . With PM's maybe the same thing happened

    there was something ugly about the whole process

    If I recall correctly, and I might not recall completely correctly, Bear initially purchase quite a few high end (read: expensive) coins when he knew he didn't have much time left and he wanted to leave a legacy coin collection for his heirs. at first he thought everything he was buying was 100% original, very high end for the grade, not messed with, never dipped, cleaned, AT-ed or whatever. I reached out to him when he provided images on the boards to let him know my opinions on some of the coins and this raised the hair on the back of his neck and he then sent the coins to CAC. To his consternation, he did not have the success at CAC that he envisioned and then went about selling off a chunk of the initial legacy collection and reconfiguring it with the help of CAC and also asking for advice from a few folks who had more experience in the arena than he did and who were helping him without selling coins to him. This was in mid-2011.

    When he passed away the collection went to his heirs and a few years later they auctioned off some or all of the pieces, which caused lots of wailing and moaning amongst some board members. Truly, I was happy they auctioned them off as it was my impression that his heirs had little interest in the collection and could use the liquidity far more to their advantage. My favorite coin in his legacy collection was one I liked from the beginning, told him how special it appeared in a PM when he posted it and would have happily had it in my own holdings. That coin sold, if I recall correctly, for a significant gain at auction.

    The only stink I can recall surrounding his collection was that some dealers of expensive coins appeared to want to offload inventory to him when he first started to build the collection above his level of expertise and then when it was sold a few board members pissed and moaned about how other people handled their inheritance. In between he did fine, for the most part.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • TomBTomB Posts: 20,613 ✭✭✭✭✭

    Oh, on a more light-hearted note, if silver breaks out...

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • MrEurekaMrEureka Posts: 23,834 ✭✭✭✭✭

    If inflation goes to 8% and seems entrenched, most of us will be happily buying at $50.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • jmski52jmski52 Posts: 22,266 ✭✭✭✭✭

    When silver hits $50, I’ll be doing what I have always planned to do - sell a little here & there, buy a little something else that I might like if it presents itself.

    I’ll reiterate what I’ve been saying here for years - keep impeccable records, stack gold or silver (or platinum) when your budget allows, buy a nice collectible coin occasionally, pay off debt, keep a little contingency cash and don’t put your trust in large financial institutions.

    Cryptos? Maybe stick your toe in the water, but don’t get too crazy about it all at once, especially now that Wall Street is involved.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,293 ✭✭✭✭✭

    @jmski52 said:
    When silver hits $50, I’ll be doing what I have always planned to do - sell a little here & there, buy a little something else that I might like if it presents itself.

    LOL you will never see $50 gutter metal. Not in $USD anyways. This place gets more delusional by the day. SMH!

    The whole worlds off its rocker, buy Gold™.

  • rte592rte592 Posts: 1,385 ✭✭✭✭✭

    @blitzdude said:

    @jmski52 said:
    When silver hits $50, I’ll be doing what I have always planned to do - sell a little here & there, buy a little something else that I might like if it presents itself.

    LOL you will never see $50 gutter metal. Not in $USD anyways. This place gets more delusional by the day. SMH!

    Blitz, you are referring to generic silver right?
    There was a pawn shop I stopped by in El Centro California.
    They had generic bars and APMEX rounds @$50 in the counter, nothing old Odd or vintage.
    I asked the worker if they sell any at that price and he said a few.
    He said they have more coming in at the end of the week.
    Nothing vintage just new stuff.
    He said they are selling some and restock a couple time a month.

  • GoldminersGoldminers Posts: 3,562 ✭✭✭✭✭

    If it breaks out, I will probably just complain that I did not buy more earlier.

  • Peter89Peter89 Posts: 60 ✭✭
    edited January 30, 2024 8:32AM

    @Goldminers said:
    If it breaks out, I will probably just complain that I did not buy more earlier.

    .
    Silver on its way breaking out :)
    23 in NY/London
    25,60 in Shanghai
    10% premium

    Credits to @pmbug

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    @TomB said:

    @bronco2078 said:

    @cohodk said:

    @bronco2078 said:
    what would Bear do!
    has he been gone 10 years?

    I wonder what happened to his PMs?

    i seem to remember he invested in a lot of coins for posterity then suddenly dumped them ? his inheritors didn't care or he decided not to leave them . Didn't a forum dealer auction off his collection while he was still alive?

    I remember thinking something stunk about the whole process . With PM's maybe the same thing happened

    there was something ugly about the whole process

    If I recall correctly, and I might not recall completely correctly, Bear initially purchase quite a few high end (read: expensive) coins when he knew he didn't have much time left and he wanted to leave a legacy coin collection for his heirs. at first he thought everything he was buying was 100% original, very high end for the grade, not messed with, never dipped, cleaned, AT-ed or whatever. I reached out to him when he provided images on the boards to let him know my opinions on some of the coins and this raised the hair on the back of his neck and he then sent the coins to CAC. To his consternation, he did not have the success at CAC that he envisioned and then went about selling off a chunk of the initial legacy collection and reconfiguring it with the help of CAC and also asking for advice from a few folks who had more experience in the arena than he did and who were helping him without selling coins to him. This was in mid-2011.

    When he passed away the collection went to his heirs and a few years later they auctioned off some or all of the pieces, which caused lots of wailing and moaning amongst some board members. Truly, I was happy they auctioned them off as it was my impression that his heirs had little interest in the collection and could use the liquidity far more to their advantage. My favorite coin in his legacy collection was one I liked from the beginning, told him how special it appeared in a PM when he posted it and would have happily had it in my own holdings. That coin sold, if I recall correctly, for a significant gain at auction.

    The only stink I can recall surrounding his collection was that some dealers of expensive coins appeared to want to offload inventory to him when he first started to build the collection above his level of expertise and then when it was sold a few board members pissed and moaned about how other people handled their inheritance. In between he did fine, for the most part.

    i remember the same only less detail.
    i think it was before the forum software switch so im not sure if it would be possible to revisit
    was he taken advantage of by people who were posters or did he buy the messed with coins elsewhere?

    there was a lot of CAC adjacent anger and axes being ground on both sides by the pro and against weenies
    i seem to remember some going after him which he did nothing to deserve

    i did think it was weird they sold them quickly , why not just say "dad we really are not coin people" but i felt different later after losing a few family members who tried to do similar things for heirs . sometimes its not the best thing to do but if a person is dying then arguing isn't a great way to spend time with them , even if they are wrong about something they should still be allowed to do as they wish , later they might turn out to have been wiser than they seemed at the time

    no good deed goes unpunished is a very valid bit of advice but silence is golden is right up there too :#

  • TomBTomB Posts: 20,613 ✭✭✭✭✭

    The Bear Legacy Collection (BLC) was built in 2011 and the large software upgrade that obliterated the old board was in February, 2001 (I was here for that, too). Regardless, the search feature here isn't the best, in my opinion.

    What I had not written previously is that I saved quite a bit of the correspondence I had with Bear and also saved text from some of the threads that occurred in this time period. The threads or some posts in them may have disappeared entirely, and even if they haven't, they may have been heavily edited for content. So, I still have some of my conversations with Bear, or what he originally posted in his threads prior to their being edited, saved as Word docs. This wasn't done out of some paranoia or morbid fascination on my part, but was instead done in the event that he or his heirs approached me in the future and requested help. By saving the history of my advice and the history of his purchases it might have been easier to help folks down the road. As it unfolded, no one from his family ever reached out to me for help.

    In my opinion, part of the controversy for the BLC was how he promoted it with doe-eyed innocence and then how he had to reconcile the PCGS regrade and CAC evaluation results with this innocence. He potentially put some dealers in an awkward position by posting from whom he purchased a coin, how much he paid, the cert number and grade (they were all PCGS) and an image of the coin. Additionally, he typically included the text from the dealer website that described the coin. That's all fair game (aside from the price since that might have contained a confidential discount) since the dealers had originally placed this information in the public domain and I am certain some dealers were at first delighted to see the free publicity.

    However, Bear may have taken at face value some claims that coins were wildly undergraded or were near-certain upgrades and when he submitted them to PCGS and they failed to upgrade he added that information to the story of his collection, too. I think at that point he began to get some pushback from the dealers who sold those coins to him, from fans of those dealers and from some other folks who might have anticipated the wheels coming off the project. He then submitted the coins to CAC and you are absolutely correct that there was considerable CAC-adjacent anger at that time on these boards. His CAC success rate was far more poor than he anticipated or than what might be considered acceptable with how the coins were described by the dealers.

    Again, I had previously sent him PMs about some coins and what I thought may be issues with the coins for the given grades and unfortunately I was generally correct in terms of how CAC evaluated the group. In my opinion, at that point Bear might have been best served to put the public facing BLC project on hold, but he went ahead and posted CAC results for the coins. So, now he not only had all the original dealer information attached to the coins, but also any failed PCGS regrade information and CAC evaluation information. The CAC mania did not help the situation and I believe some dealers might have been pretty annoyed or angry to realize they were in a very public experiment with respect to their descriptions, PCGS regrade attempts and CAC evaluation. The entire tenor of the project was soured.

    He ended up liquidating a fair chunk of the original BLC, which was made up of all the CAC rejects and some coins that he realized were not as "original" as he expected, and no doubt took a decent hit on the coins since he now had publicized so much about their write-ups, cost, source dealer, PCGS regrade and CAC history. The entire process left brush fires all over the boards for a while.

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • blitzdudeblitzdude Posts: 5,293 ✭✭✭✭✭

    Interesting. I didn't even know the cacs graded/stickered/ or whatever it is they do to precious metals. THKS!

    The whole worlds off its rocker, buy Gold™.

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    @TomB said:
    The Bear Legacy Collection (BLC) was built in 2011 and the large software upgrade that obliterated the old board was in February, 2001 (I was here for that, too). Regardless, the search feature here isn't the best, in my opinion.

    What I had not written previously is that I saved quite a bit of the correspondence I had with Bear and also saved text from some of the threads that occurred in this time period. The threads or some posts in them may have disappeared entirely, and even if they haven't, they may have been heavily edited for content. So, I still have some of my conversations with Bear, or what he originally posted in his threads prior to their being edited, saved as Word docs. This wasn't done out of some paranoia or morbid fascination on my part, but was instead done in the event that he or his heirs approached me in the future and requested help. By saving the history of my advice and the history of his purchases it might have been easier to help folks down the road. As it unfolded, no one from his family ever reached out to me for help.

    In my opinion, part of the controversy for the BLC was how he promoted it with doe-eyed innocence and then how he had to reconcile the PCGS regrade and CAC evaluation results with this innocence. He potentially put some dealers in an awkward position by posting from whom he purchased a coin, how much he paid, the cert number and grade (they were all PCGS) and an image of the coin. Additionally, he typically included the text from the dealer website that described the coin. That's all fair game (aside from the price since that might have contained a confidential discount) since the dealers had originally placed this information in the public domain and I am certain some dealers were at first delighted to see the free publicity.

    However, Bear may have taken at face value some claims that coins were wildly undergraded or were near-certain upgrades and when he submitted them to PCGS and they failed to upgrade he added that information to the story of his collection, too. I think at that point he began to get some pushback from the dealers who sold those coins to him, from fans of those dealers and from some other folks who might have anticipated the wheels coming off the project. He then submitted the coins to CAC and you are absolutely correct that there was considerable CAC-adjacent anger at that time on these boards. His CAC success rate was far more poor than he anticipated or than what might be considered acceptable with how the coins were described by the dealers.

    Again, I had previously sent him PMs about some coins and what I thought may be issues with the coins for the given grades and unfortunately I was generally correct in terms of how CAC evaluated the group. In my opinion, at that point Bear might have been best served to put the public facing BLC project on hold, but he went ahead and posted CAC results for the coins. So, now he not only had all the original dealer information attached to the coins, but also any failed PCGS regrade information and CAC evaluation information. The CAC mania did not help the situation and I believe some dealers might have been pretty annoyed or angry to realize they were in a very public experiment with respect to their descriptions, PCGS regrade attempts and CAC evaluation. The entire tenor of the project was soured.

    He ended up liquidating a fair chunk of the original BLC, which was made up of all the CAC rejects and some coins that he realized were not as "original" as he expected, and no doubt took a decent hit on the coins since he now had publicized so much about their write-ups, cost, source dealer, PCGS regrade and CAC history. The entire process left brush fires all over the boards for a while.

    it was an angry time on the board , worse than the blue nickels brouhaha even ! :D

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    was there a dislike option for a while? maybe im confusing that

    I feel like there was a software wall of sorts that came into being that made searching for posts and topics go haywire that created some sort of before and after situation.
    search is bad but in some cases its extra bad :#
    it may or may not have coincided with some odd new moderation style that became the new normal.
    night of the long knives mass bannings period only spoken of in hushed tones if at all now :D

  • EstilEstil Posts: 6,846 ✭✭✭✭

    Not breaks out into zits I hope!!

    WISHLIST
    Dimes: 54S, 53P, 50P+S, 49S, 45D+S, 44S, 43D, 41S, 40D+S, 39D+S, 38D+S, 37D+S, 36S, 35D+S, all 16-34's
    Quarters: 61D, 52S, 47S, 46S, 40S, 39S, 38S, 37D+S, 36D+S, 35D, 34D, 32D+S
    74 Topps: 37,38,46,47,48,138,151,193,210,214,223,241,256,264,268,277,289,316,435,552,570,577,592,602,610,654,655
    1997 Finest silver: 115, 135, 139, 145, 310
    1995 Ultra Gold Medallion Sets: Golden Prospects, HR Kings, On-Base Leaders, Power Plus, RBI Kings, Rising Stars
  • dcarrdcarr Posts: 7,890 ✭✭✭✭✭

    @Estil said:
    Not breaks out into zits I hope!!

    Not to worry, silver kills bacteria better than most other compounds (and is generally less toxic as well).

  • ashelandasheland Posts: 22,564 ✭✭✭✭✭

    @Downtown1974 said:

    @LukeMarshall said:
    Who is still buying above $50 ?

    Maybe the person who hastily sold their entire holdings @49

    Anyone looking for older, unique poured bars. A 3 oz. poured Engelhard will run you north of $300 an ounce.
    Definitely not stacker material.

    Lately, it’s only the vintage stuff that gets my interest as well.

  • Downtown1974Downtown1974 Posts: 6,675 ✭✭✭✭✭

    @asheland said:

    Anyone looking for older, unique poured bars. A 3 oz. poured Engelhard will run you north of $300 an ounce.
    Definitely not stacker material.

    Lately, it’s only the vintage stuff that gets my interest as well.

    We’re cut from the same cloth as far as our collecting interests go…old gold and old silver! 👍

  • bestmrbestmr Posts: 1,761 ✭✭✭

    Put most of it towards the house.

    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • ashelandasheland Posts: 22,564 ✭✭✭✭✭

    @Downtown1974 said:

    @asheland said:

    Anyone looking for older, unique poured bars. A 3 oz. poured Engelhard will run you north of $300 an ounce.
    Definitely not stacker material.

    Lately, it’s only the vintage stuff that gets my interest as well.

    We’re cut from the same cloth as far as our collecting interests go…old gold and old silver! 👍

    I agree! I have even lately moved into collecting paper. The collecting bug gets in your blood and it never goes away. :D

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