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Today a man said "Silver is dropping to $13 this year and then I'll buy a truckload"

coin22lovercoin22lover Posts: 3,540 ✭✭✭
in Precious Metals
This morning at a local coin Shop, a guy said that to me. Not the owner, just another customer that I'd never met. What do you think about his remarks?

Comments

  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭
    I think he's dreaming but if he's right I'll also be buying a truck load of silver..

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    this year ends tomorrow... pretty unlikely we'll see $13 silver in the next 36 hours.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • coin22lovercoin22lover Posts: 3,540 ✭✭✭
    Eh, I meant to say this COMING year...whatever image
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    Since I've been buying and accumulating silver since '98, I'd probably buy a bit more if it went to $13.00 next year, but it's not critical that I buy a truckload at any given time.

    Even if I had no silver, I'd still advise buying it steadily over time.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Anything is possible. I'd be interested in knowing how much silver this guy bought from 2001-2005 and then sold at a large profit later on. Certainly he must have backed up the truck at least one time before. And while he's waiting for silver to drop way off what other area does he have his money in...or is he shorting silver in the meantime?

    If silver dropped to $13, then why couldn't $9 be the next stop?.....in which case the above guy would be buried for a while.

    Local coin shops are often chock full of sages.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I don't see it getting that low. I'm thinking $23oz is more likely.
    Avid collector of GSA's.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭


    << <i>
    Local coin shops are often chock full of sages. >>



    LOL. Ain't that the truth.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • cinman14cinman14 Posts: 2,489 ✭
    Didn't silver flirt with single digits earlier this year? The only thing I remember was the premiums going up to
    maintain the price..

    It was funny how people would say "the spot price doesn't relate to physical price" then when silver
    went back up the premiums went down and people started buying at "spot" price again...
    image
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "It was funny how people would say "the spot price doesn't relate to physical price" then when silver
    went back up the premiums went down and people started buying at "spot" price again..."

    That's the nice part of having it for sale, you can kinda name your own terms. I believe the small transaction market (<1000 oz) is the real price of silver, the street price if you will. That price is not the same as the comex price or the miner stock price or the goofy financial instrument price (GFIP) or the ETF price or the London fix. It is interesting to note that there are many different markets in silver that operate simultaneously and they all have different values for the same asset. Though they are reflective of each other and related to each other, they are not the same.

    It is not simple to correlate the different silver markets to each other such as physical B&M price, silv shares price, gfip price, and certainly the miners have a certain production price that is on a different schedule than the ebay price. There are a lot of different silver markets and none are absolute. Eventhough all entities measure silver in ounces, it's the value they place on it that is variable. So, spot/fix prices v.s. physical price in your hand...hummmmmmmm two different markets; related but not the same value. It is when you actually put that ounce in your hand, that's the real price of silver.
  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    The cargo area of a Ford F-150 is about 88,000 sq inches. A 100oz engelhard silver bar is about 19 sq inches. So this guy says he will buy about 4600--100oz bars. Assuming he does not pay a premium for the bars, he is looking to buy about $6 million worth of silver weighing about 31,000 pounds.

    I would say with a fair amount of confidence that this guy is lying.

    image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • DimeAdozenDimeAdozen Posts: 91
    If that is the case after just a day I will buy too image..
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭


    << <i>The cargo area of a Ford F-150 is about 88,000 sq inches. A 100oz engelhard silver bar is about 19 sq inches. So this guy says he will buy about 4600--100oz bars. Assuming he does not pay a premium for the bars, he is looking to buy about $6 million worth of silver weighing about 31,000 pounds.

    I would say with a fair amount of confidence that this guy is lying.

    image >>



    BUT the F-150 load capacity is ONLY 1/2 ton ! ! !

    So what does that work out in ozts and $$$?

    HH
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    1/2 ton = 1,000#'s

    12,000 troy oz's x's $13 so I'd say $156,000

    B&M having 120-100oz bars may be hard to find.
    Avid collector of GSA's.
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>1/2 ton = 1,000#'s

    12,000 troy oz's x's $13 so I'd say $156,000

    B&M having 120-100oz bars may be hard to find. >>



    If you pay a PM/coin dealer up front, I'm sure they will order them for you.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • DarinDarin Posts: 7,043 ✭✭✭✭✭


    << <i>The cargo area of a Ford F-150 is about 88,000 sq inches. A 100oz engelhard silver bar is about 19 sq inches. So this guy says he will buy about 4600--100oz bars. Assuming he does not pay a premium for the bars, he is looking to buy about $6 million worth of silver weighing about 31,000 pounds.

    I would say with a fair amount of confidence that this guy is lying.

    image >>



    Obviously an F-150 can't carry that much weight, but that's not really a truck anyway.
    We've got a grain truck that can haul 600 bushels of wheat, or 36,000 lbs. so that truck would work for your example.

  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭


    << <i>

    << <i>The cargo area of a Ford F-150 is about 88,000 sq inches. A 100oz engelhard silver bar is about 19 sq inches. So this guy says he will buy about 4600--100oz bars. Assuming he does not pay a premium for the bars, he is looking to buy about $6 million worth of silver weighing about 31,000 pounds.

    I would say with a fair amount of confidence that this guy is lying.

    image >>



    Obviously an F-150 can't carry that much weight, but that's not really a truck anyway.
    We've got a grain truck that can haul 600 bushels of wheat, or 36,000 lbs. so that truck would work for your example. >>



    Thats a big truck!!

    I should have written cubic inches, not square inches.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>The cargo area of a Ford F-150 is about 88,000 sq inches. A 100oz engelhard silver bar is about 19 sq inches. So this guy says he will buy about 4600--100oz bars. Assuming he does not pay a premium for the bars, he is looking to buy about $6 million worth of silver weighing about 31,000 pounds.

    I would say with a fair amount of confidence that this guy is lying.

    image >>




    Your math is way messed up. The bed of the truck is nowhere that size in sq ". Are you thinking cubic " ?
  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    As I mentioned above, yes, cubic. Using the stats here, the cargo area is about 10% larger.



    Cargo Area Dimensions Details
    Cargo Box (Area) Height (in) 22.4
    Cargo Box Width @ Floor (in) 65.2
    Ext'd Cab Cargo Volume (ft³) - TBD -
    Tailgate Width (in) - TBD -
    Cargo Box Length @ Floor (in) 67.0
    Cargo Volume (ft³) - TBD -
    Cargo Box Width @ Wheelhousings (in) 50.0
    Cargo Box Width @ Top, Rear (in) 65.2


    http://www.fordreports.com/specifications/ford_f-150_2009_2wd-supercab-133-xlt_dimensions


    BTW---I like prefer Chevy over Ford, but own a Jeep.image

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭
    Some of you guys have way too much free time.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • coin22lovercoin22lover Posts: 3,540 ✭✭✭
    How did my thread on silver go to the cargo capacity of a pickup truck image
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "How did my thread on silver go to the cargo capacity of a pickup truck"

    Life is good.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Amazing where these threads start and end sometimes!image

    OP has to keep it focused or let it wanderimage
    Avid collector of GSA's.
  • coynclectercoynclecter Posts: 2,111
    Hes just another guy who regrets not buying when the price was low. So now he pacifies himself believing he will get another chance.

    When the price reaches 25 he will tell you that he plans on buying a truckload when it gets to 20. If it gets to 13 he will probably wait for 10.

    I had a guy send me a offer on a 100oz bar I had on Ebay. He said he was a buyer at 1600, cash, like I was gonna take food stamps otherwise.

    I replied that I was paying 80 bucks for hundred dollar bills and to let me know if he had any for sale.
  • coynclectercoynclecter Posts: 2,111
    If you see the guy whos waiting for silver to drop to 13, ask him how well thats working out for him.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>

    I replied that I was paying 80 bucks for hundred dollar bills and to let me know if he had any for sale. >>



    BAH HAW HAW! image
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • ttownttown Posts: 4,472 ✭✭✭
    Good luck with that. Paper silver at $13 won't be anywhere close to physical silver at that price. IIRC when it dropped to single digits silver spread was still just under 12 bucks the last time for physical silver. I'd buy silver now if I could find it for the normal historical margins.
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    Hes just another guy who regrets not buying when the price was low. So now he pacifies himself believing he will get another chance.


    image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • coin22lovercoin22lover Posts: 3,540 ✭✭✭
    In light of the last couple days, I thought I would re-hash this thread.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    although I'd like to see it, I don't think that man is gonna get his chance to buy silver @ $13 no time soon......or ever.

    The only reason silver went down is because I just bought a bunch. That's it, plain and simple.



    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • keepdachangekeepdachange Posts: 1,374


    << <i>The cargo area of a Ford F-150 is about 88,000 sq inches. A 100oz engelhard silver bar is about 19 sq inches. So this guy says he will buy about 4600--100oz bars. Assuming he does not pay a premium for the bars, he is looking to buy about $6 million worth of silver weighing about 31,000 pounds.

    I would say with a fair amount of confidence that this guy is lying.

    image >>



    Maybe he's telling the truth......

    image
    "If you hit a midget on the head with a stick, he turns into 40 gold coins." - Patty Oswalt
  • bestmrbestmr Posts: 1,777 ✭✭✭
    HA! That made me lol. Thanks for the chuckle.
    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
  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    LOL. Thats great.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • 7over87over8 Posts: 4,733 ✭✭✭
    I think i heard this when silver was 8 - 12 - 16 per oz, and they were backing up the truck at 4 - 8 - 12 respectively.

    I guess the truck only rolls in forward gears.........

    It's the age old bs about buying something only "when it drops" to a rediculous amount.....

    Sounds like someone doesnt have a pot to pi&& in......................
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The odds of silver making it to $13 are a lot better today. But that doesn't mean you'll be able to buy a truckload at $13/oz. You'll be able to buy a truckload alright, it just might be at $15/oz.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,286 ✭✭✭✭✭
    Where do you think silver will be by Easter ? Memorial Day ? Fourth of July ?
    Up, down, up ?
    Down, up, down ?
    Up, up and away ?
    Down , down , down ?

    Speaking of trucks. Size matters.
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>Where do you think silver will be by Easter ? Memorial Day ? Fourth of July ?
    Up, down, up ?
    Down, up, down ?
    Up, up and away ?
    Down , down , down ? >>



    Yes!!!



    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I'm a man, and today I'll say I'll buy a trunkload if it falls below 14 and sell silver when it crosses 20.

    If i drive a 10 year old Maxima (that's incidentally, never spent a day in the shop since new) how much silver can I fit in the trunk? how much will that cost at 14 the oz?

    Liberty: Parent of Science & Industry

  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    Ah, a trick question....

    Real men dont drive Maximas.imageimage

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Norseman88Norseman88 Posts: 962


    << <i>Ah, a trick question....

    Real men dont drive Maximas.imageimage >>



    He can drive a Maxima as long as he doesn't have a huge chrome "fart can" and a giant aftermarket wing on the back.image
  • bestmrbestmr Posts: 1,777 ✭✭✭


    << <i>

    << <i>Ah, a trick question....

    Real men dont drive Maximas.imageimage >>



    He can drive a Maxima as long as he doesn't have a huge chrome "fart can" and a giant aftermarket wing on the back.image >>



    Maybe it's because I'm older, but I HATE those cars. Very annoying sounding. Gimme an older V-8 engine sound ANYDAY.
    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
  • Norseman88Norseman88 Posts: 962


    << <i>

    << <i>

    << <i>Ah, a trick question....

    Real men dont drive Maximas.imageimage >>



    He can drive a Maxima as long as he doesn't have a huge chrome "fart can" and a giant aftermarket wing on the back.image >>



    Maybe it's because I'm older, but I HATE those cars. Very annoying sounding. Gimme an older V-8 engine sound ANYDAY. >>



    I know what you mean, I drive a 2006 GTO with an LS2 and 6 speed manual tranny. Over the years I've owned a 1968 Dodge Charger with a 383, 1970 Dodge Demon with a 340, 1987 Buick Grand National with ported heads, 2002 Chevy Camaro SS LS1 6 speed manual tranny and now my 2006 GTO with a 400 hp LS2. There's nothing like the sound of a V8, heck even my Grand National sounded kinda like a V8 cause it had no cats along with a bigger turbo, ported heads, injectors and intercooler.image
  • TomohawkTomohawk Posts: 667 ✭✭
    Norseman...I so agree with you, except for one small note: There's nothing like the sound of an AMERICAN V8...not that you can find many outside the US!
    ASE Addict...but oh so poor!
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I like the pony'simage Here's a silver car, this dude has the best job in the world! Turn up your speakers too.

    Texthttp://www.youtube.com/watch?v=ow6GHrtf4F4&feature=related image
    Avid collector of GSA's.
  • coin22lovercoin22lover Posts: 3,540 ✭✭✭
    Interesting!
  • Coll3ctorColl3ctor Posts: 3,334 ✭✭✭


    << <i>I like the pony'simage Here's a silver car, this dude has the best job in the world! Turn up your speakers too.

    Texthttp://www.youtube.com/watch?v=ow6GHrtf4F4&feature=related image >>




    Nice image
  • Norseman88Norseman88 Posts: 962


    << <i>Norseman...I so agree with you, except for one small note: There's nothing like the sound of an AMERICAN V8...not that you can find many outside the US! >>



    Technically my GTO is an Australian car but the powertrain is an all American V8 and makes sweet music when I run through the Tremec 6 speed tranny.image
  • keepdachangekeepdachange Posts: 1,374
    Get your "trucks" ready............
    "If you hit a midget on the head with a stick, he turns into 40 gold coins." - Patty Oswalt
  • clouisejewelersclouisejewelers Posts: 329 ✭✭


    << <i>Norseman...I so agree with you, except for one small note: There's nothing like the sound of an AMERICAN V8...not that you can find many outside the US! >>



    You may want to retract that statement after you hear the 6.2 liter AMG V8 in some of the current Mercedes models image
  • 1jester1jester Posts: 8,637 ✭✭✭
    You mean like this new "Rendezvous" candidate?

    Jay Leno's SLS

    I still prefer the orchestra of an angry big block Chevy:

    like in this Monte Carlo.


    imageimageimage
    .....GOD
    image

    "Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9

    "Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5

    "For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
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