Silver above $7/oz!!!

Steve27

Deadhorse

Some of us aren't the least bit surprised.

Personally, I am surprised that it is happening as fast as it is. I thought we wouldn't be here till after November. It's cutting into my ability to purchase quantity.

Sort of a mixed blessing.

hookedoncoins

<< <i>Some of us aren't the least bit surprised.

Personally, I am surprised that it is happening as fast as it is. I thought we wouldn't be here till after November. It's cutting into my ability to purchase quantity.

Sort of a mixed blessing. >>



Thats how I felt when gold kept going up. Although my Saint Gaudens nearly doubled in value, I wanted gold to come back down so I could buy a $5 indian.

mgoodm3

Ethel, get the Morgans and fire up the smelter!

topstuf

My, my, my. How.......unexpected. What with all the good returns to be expected from our (non) "recovery."

A good tech stock is what we need after a month with a 21,000 new jobs report.

Sphinx357

Sure right after I sell mine.

bulloncoins

Not as cheap as it was, but I'm still buying when I can.

Idahosilver

The metal is very strong with excellent fundamentals.
I have both the metal and my coins so am always seeing it as
a good news/bad news.
I wonder if we go to $10 if we will be entering a "melt" phase again.
Last time (1980) the run up and down was so fast I am not sure
how many silver coins were melted.
Could a 1921 morgan or a 1922 Peace become rare?
The better dates will still be saved but what about the commons?
What about "war" nickels.
Must be an opportunity here somewhere.
I'll bet a Silver Eagle someone here has an opinion.

idahosilver

mrearlygold

The best is yet to come!

TP

cladking

<< <i>The metal is very strong with excellent fundamentals.
I have both the metal and my coins so am always seeing it as
a good news/bad news.
I wonder if we go to $10 if we will be entering a "melt" phase again.
Last time (1980) the run up and down was so fast I am not sure
how many silver coins were melted.
Could a 1921 morgan or a 1922 Peace become rare?
The better dates will still be saved but what about the commons?
What about "war" nickels.
Must be an opportunity here somewhere.
I'll bet a Silver Eagle someone here has an opinion.

idahosilver >>



It seems unlikely any US silver coin could become scarce or rare simply on the basis
of melting. If prices had remained high in 1980 then some coins might have lost huge
percentages of their populations, but now there are no US silver coins which aren't
collected.

Some coins could experience extremely heavy attrition and it would likely start at about
$14 per Oz which is the long term resistance. War nickels, late date 90%, low grade 19th
and early 20th century, and silver clad halfs would likely be the most heavily impacted
coins. Some modern commems could also be affected.

Of course this all presupposes that silver continues its advance, which is hardly a given.

SportsModerator

Just the start of an incredible ride

Idahosilver

merz2

Does anyone remember a couple of years ago,the article in CW that said the U.S. Mint silver stockpile was running low.Is this the beginning of their buying on the open market ?

SportsModerator

The mint has been buying in the open market for the past couple of years. The stipulation is that the silver must have been mined in the United States.

At least that's one area that won't be outsourced (yet!)

roadrunner

And while those 21,000 McDonald's "manufacturing" jobs where being created, another 125,000 job-seekers gave up and were removed from the rolls. Government stats at their finest.

No reason for silver or gold to go up just because the Japanese injected $100 BILLION into US Govt bonds the past 2 months. This is normal behavior right?? Doesn't every country do this during a recovery?

roadrunner