So what does it mean if silver does go to $10??

skydivdav

So what does it mean if silver does hit $10?? just curious. Sorry so ignorant, but is that a really good thing for collectors? Will people melt old silver coins when the price is inflated?
david

wjd283

<< <i>So what does it mean if silver does hit $10?? >>



Time to sell.




<< <i> Will people melt old silver coins when the price is inflated? >>



Yes.

MoneyLA

Keep in mind that there are a lot of speculators who were burned in the last silver bull run -- when silver topped out at $50 an ounce. There are plenty of speculators who bought silver at $10, $20, $30 etc and they are likely to sell when silver reaches a break even point for them.

The trick for the market might be breaking through $10 and then the next "resistance level" where there was a lot of buying before. I would have to look at a silver price chart to guess at where these levels for selling might be.

But if silver should get above these levels, there would be room for a rally to the next resistance level.

the ultimate resistance level is $50.75 and if silver should ever get above that then silver has a free ride to even higher levels.

Personally, I dont think we'll get back to $50 anytime soon.

But $25 would sure be nice for those old junk morgans and peace dollars I have....

cheers, alan mendelson

morgannut2

At $10 it will be worth it to sell all my silver "mistakes". They're inventoried and ready to go instantly!

ARCO

Common date worn Merc's will cost 70 cents instead of 40 cents, and that prices me right out of numismatics.

Tyler

100proof1957

Dont forget that some people went to jail over that 50 dollar silver !

Silver is due for a pull back to around 5.90 !

clackamas

<< <i>Common date worn Merc's will cost 70 cents instead of 40 cents, and that prices me right out of numismatics.

Tyler >>



LOL

I don't know how much silver you have but there is an old axiom in stocks, " when they pass the plate "take your cookie"". I am getting ready to start selling into the market. My dad bought the last time the market for silver was good and won't sell under $20, I bought when it was $2-$3 and will be happy to take a 300% profit. Not taking a nice profit is greed, and although sometimes it will pay off, in the end, the "pigs get slaughtered". Il earned this the VERY hard way with technology. Sell into it, IMO

mhammerman

Oh, a blessed day has come for all those people that thought they were going to be buried in that $8 silver they have been holding for all these years.

fishcooker

So what does it mean if silver does hit $10??

Not much. Most likely it means that the US dollar has continued to decline against foreign currencies, making commodities prices measured in US dollars rise.


Sorry so ignorant, but is that a really good thing for collectors?

Not those looking to buy.


Will people melt old silver coins when the price is inflated?

Yes.



I do disagree with the premise that "investors" are awaiting $10 or $20 silver to Sell and recoup their losses from the great crash. That was over 20 years ago, and it would be just plain nutty to hold any investment, stocks included, for 20 years hoping to maybe almost someday could be break even, without counting inflation.

PhillyJoe

While $10/oz. is still quite a leap away, I think it would open the junk metal floodgates. Ebay activity will increase, but if you're the buyer, shipping a pound of silver is gonna add a good bit to your real cost (esp. at the new $.41 rate ) . When people realize they can get $3 for their circulated 1964 Kennedy half dollar, they'll be off to the coin shop in droves. Again.

Joe

ttown

You need to look at what's causing this run up. Unlike the last Bull Run where the Hunt brothers were cornering the market, Economic issues are causing it this go around. Most Americans can see the job losses to India and China but don’t realize that these countries have the critical mass of a growing middle class to sell within their own countries.

China and Japan have been propping up the dollar for years so they could sell cheaply to the good ole USA. I think I’ve read China alone holds 250 billion dollars of treasury bills and there starting to dump them in favor or oil, gold, silver and real assets needed to expand their infrastructure. India and China are about to go through an Industrial age like the US did in the 20th century and they have over a billion people each, so good by natural resources. China has factories and trained people just like we did in the 20th century and is just waiting for the Communists party to unleash its tremendous growth potential.

Now for gold vs. silver for the sake of argument, either Gold is going to have to drop way down or silver is going to flat skyrocket and I’m beating the latter. We are approaching a time where no currency in the world is stable and people are rushing to hard assets. Although not locked at the hip there is a 15:1 ratio between Gold and Silver. This ratio is now upper 50’s to 1 and value investors are taking notice. Grant it there will be corrections but they’ll be short lived IMO.

lonelyp

one thing it means is I could sell the 100 oz bar I have for more than twice what I paid all those years ago.
It would be nice
PZ

DennisH

<< Common date worn Merc's will cost 70 cents instead of 40 cents, and that prices me right out of numismatics.

Tyler >>


Tyler:

Could I shop for circulated Mercs where you shop? On the back of the current Grey Sheet there's an ad from a guy who is offering to pay 51¢ each!

poptopsRus

Look at past charts, I believe silver normally goes up a little prior to the year end then settles back down first quarter.

ttown

I'd have to agree, 10 X .40 = $4 per dollar face. Your getting ripped off if your not making at least $5 per dollar on any old silver coin. I'd buy all I can at those prices. Ebay is getting $26-$28 a roll of 50.