Congratulations to silver! New all time high: $49.82!!!

ProofCollection

Congratulations to silver and those who own it, new 30 year high: $49.75+ (Comex Silver Contract)

Mesquite

Wow - that was quite a bounce last night.

Wolf359

This thread is validation that ProofCollection is actually an algo that never sleeps.

pmcollectour

Dare I say Jim Cramer appears to be right this time

PerryHall

<< <i>Dare I say Jim Cramer appears to be right this time >>



Even a broken clock is right twice a day.

Wolf359

Up 43 cents overseas.

ProofCollection

Updated for 22.55

ksammut

ksammut

Silver stocks are making a nice move too! I have been waiting awhile for the gold and silver miners to make their move up.

Wolf359

I think we're seeing some panic short covering going on in Silver.

ProofCollection

Update for 22.75

OPA

Coming down the stretch, Silver is leading by a nose .... with Palladium nipping at her heels

PALLADIUM


10/05/2010 14:59 577.00 - 582.00 +18.00 +3.22%

ProofCollection

Now $23!!!

Wolf359

And running. 23.05 +

ProofCollection

Now 23.25!

jmski52

So, I'm just sittin' here, watching silver go up, tick by tick...

ProofCollection

Now 35.53. New target is 24.04.

OPA

Ooops...now at $22.76 .... should have sold more when it was at $23+

Kip

The sky is falling....the sky is falling

OPA

Kitco website having problems ........ market must be taking a hit

ProofCollection

Updated for 23.775

johnny9434

<< <i>Dare I say Jim Cramer appears to be right this time >>



every once and a while he hits it right. im still leary of anything thats goldman/slacks. hes one of them

bestmr

It's SOOOOOO close to $24!!

dontippet

<< <i>It's SOOOOOO close to $24!! >>



Not anymore. It cracked $24 and decided to go back down a tad.

ProofCollection

Now $24!

roadrunner

Darn, if only Warren Buffet had kept those 120,000,000 ounces he bought in the 1990's at around $7/ounce.

roadrunner

ProofCollection

Now 24.25+

CaptHenway

Dollar slowly sinking into the sunset........

greatnortherncoin

ProofCollection

Now 24.65!

ProofCollection

Now 24.95!

BlindedByEgo

Smoehow it's just not as exciting when the USD is rapidly degrading towards 75...

fivecents

Well my 150 2000 silver proof sets are finally worth the $31.95 I paid for them 10 years ago.

johnny9434

ya gotta love it. go silver $30 spot

roadrunner

That puts the melt value of silver dollars at $19.20. I may be finally able to sell some of those better date XF/AU circs I bought 2 yrs ago for around $18-$22 each.

At what level do we see damage free VG-XF circs hitting the melting pot?

roadrunner

DrBuster

I just checked apmex and boy are they either out of a bunch of stuff, or pulling availability to sit on inventory for the further climb.

ProofCollection

<< <i>At what level do we see damage free VG-XF circs hitting the melting pot? >>



Never, if I have any say in it!

wpr101

<< <i>I just checked apmex and boy are they either out of a bunch of stuff, or pulling availability to sit on inventory for the further climb. >>



Apmex has been advertising everywhere recently. I see them on all sorts of political sites... probably lots of new customers.

ProofCollection

Updated for $25.00

OPA

<< <i>I just checked apmex and boy are they either out of a bunch of stuff, or pulling availability to sit on inventory for the further climb. >>



In a rising market when selling, they make a fortune. I doubt if they are sitting on anything.

PreTurb

It seems there is a fair amount of reluctance, among CU members, to buy 90% silver on the buy/sell board, even when offered way under spot. This would seem to be the collective wisdom of numerous PM-bugs. If so, then who is buying? Should I see this as a market top? (as I would think, as a group, the PM-bugs, having paid a lot of attention to this market, would generally know when to buy or sell)...

OPA

check out eBay...PM's are selling like hotcakes, but only if they are in an auction and not a fixed auction format. Common silver bullion @ $1.50 - $2.50+ above spot.

roadrunner

It seems there is a fair amount of reluctance, among CU members, to buy 90% silver on the buy/sell board, even when offered way under spot. This would seem to be the collective wisdom of numerous PM-bugs. If so, then who is buying? Should I see this as a market top? (as I would think, as a group, the PM-bugs, having paid a lot of attention to this market, would generally know when to buy or sell)...

Who's buying? Probably those with a lot more money than any of us could even dream about. We here at the forum are just insignificant peons in the silver game. The guys stacking the 1,000 oz bars are the ones with the dough.

Now that silver has reached the high from earlier this month, is it time to try to tack on that handle to the cup? But now even gold seems to be wanting to rev up higher as well.

roadrunner

ksammut

<< <i>It seems there is a fair amount of reluctance, among CU members, to buy 90% silver on the buy/sell board, even when offered way under spot. This would seem to be the collective wisdom of numerous PM-bugs. If so, then who is buying? Should I see this as a market top? (as I would think, as a group, the PM-bugs, having paid a lot of attention to this market, would generally know when to buy or sell)...

Who's buying? Probably those with a lot more money than any of us could even dream about. We here at the forum are just insignificant peons in the silver game. The guys stacking the 1,000 oz bars are the ones with the dough.

Now that silver has reached the high from earlier this month, is it time to try to tack on that handle to the cup? But now even gold seems to be wanting to rev up higher as well.

roadrunner >>



Well said. It would only take a few big money people/funds to make silver jump. Even 10,000 ounces at $25 to the wealthy is not a significant amount. If a number of funds or wealthy individuals worked together (or simply at the same time) and took delivery, we could see silver mover up $ per day versus cents per day. It would be a lot easier to corner the market today than when the Hunt Brothers tried to do it in the late 70s into early 1980. Between industrial demand and a lot of small investor demand, the amount of silver available for delivery is relatively small. In addition, there were no ETFs or other funds back then that invested in silver.

mrpotatoheadd

<< <i>It seems there is a fair amount of reluctance, among CU members, to buy 90% silver on the buy/sell board, even when offered way under spot. >>

I don't know about the BST, but I have to give a big "Thank You" to the eBay buyers who are able to identify for me the stuff in my store that I haven't managed to keep updated with current silver prices. They've been finding items that I have priced 20% below melt and making offers 20-30% below that. Decline offer, raise price- thanks, guys!

Overdate

$25.03 bid.

ProofCollection

The guys on this board aren't your typical buyers - we have been buying for years and years. I feel that I pretty much finished my buying last year, so I'm not buying anything now unless it's a steal. J6P is just catching up, and he is going to be doing the buying - on Ebay, not here.

cladking

<< <i>

<< <i>It seems there is a fair amount of reluctance, among CU members, to buy 90% silver on the buy/sell board, even when offered way under spot. This would seem to be the collective wisdom of numerous PM-bugs. If so, then who is buying? Should I see this as a market top? (as I would think, as a group, the PM-bugs, having paid a lot of attention to this market, would generally know when to buy or sell)...

Who's buying? Probably those with a lot more money than any of us could even dream about. We here at the forum are just insignificant peons in the silver game. The guys stacking the 1,000 oz bars are the ones with the dough.

Now that silver has reached the high from earlier this month, is it time to try to tack on that handle to the cup? But now even gold seems to be wanting to rev up higher as well.

roadrunner >>



Well said. It would only take a few big money people/funds to make silver jump. Even 10,000 ounces at $25 to the wealthy is not a significant amount. If a number of funds or wealthy individuals worked together (or simply at the same time) and took delivery, we could see silver mover up $ per day versus cents per day. It would be a lot easier to corner the market today than when the Hunt Brothers tried to do it in the late 70s into early 1980. Between industrial demand and a lot of small investor demand, the amount of silver available for delivery is relatively small. In addition, there were no ETFs or other funds back then that invested in silver. >>




There isn't any household silver any longer either. All the silverware and teapots got melted
down backin 1980 and mostly havenm't been replaced. The public sold most of their silver and
it's gone, used up.

You don't see ads on TV offering pennies on the dollars for silver because there just isn't
much out there. People replaced their gold jewelry to a much greater extent than their silver.

edmundfitzgerald

Banks, hedge funds, and institutional investors move the markets, not any common folks.

I hear of nations increasing their gold supply. I have yet to read about them stocking their silver supply, thus
I am a little hesitant to buy silver as opposed to gold right now.

jmski52

It seems there is a fair amount of reluctance, among CU members, to buy 90% silver on the buy/sell board, even when offered way under spot. This would seem to be the collective wisdom of numerous PM-bugs. If so, then who is buying? Should I see this as a market top? (as I would think, as a group, the PM-bugs, having paid a lot of attention to this market, would generally know when to buy or sell)...

It depends on what's being offered and whether or not it is what I'm looking for. It also depends on whether or not I have accumulated the amount of capital that I know it takes to buy what I am looking for. Whether it is a large buy or a small one, I imagine that the situation is similar for any other pm bug.

The "when to buy or sell" equation is a collection of individual perceptions about the market combined with a collection of individual personal situations. That is what makes a market.

ksammut

<< <i>Banks, hedge funds, and institutional investors move the markets, not any common folks.

I hear of nations increasing their gold supply. I have yet to read about them stocking their silver supply, thus
I am a little hesitant to buy silver as opposed to gold right now. >>



China is stockpiling silver. Instead of purchasing it on the open market, they are mining it in their own mines. They will need it for their own industrial use and may be thinking that along with gold, silver will be part of a broader basket of currencies should the dollar collapse.

Last year, demand was greater than supply (silver mined in 2009) by over 150 million ounces. That demand came from industrial users and investors. China and other countries know that (unlike gold) if they made it public that they were purchasing silver, the price would rise dramatically as the worldwide supply is small. They would be competing with industrial users.

Silver will have its day.