R.I.P Silver died.....
Type2
Posts: 13,985 ✭✭✭✭✭
She gave a good fight but we just could not help her..
flat lined. Hoard the keys.
0
Type2
Posts: 13,985 ✭✭✭✭✭
She gave a good fight but we just could not help her..
flat lined. Hoard the keys.
Comments
<< <i>Give it 2 aspirin (and wait ten minutes). >>
I bet Ankur could score it something better than aspirin
- Jim
To think we'll never hear that Hi Ho! again.
"Inspiration exists, but it has to find you working" Pablo Picasso
bob
I knew it would happen.
...you mean they're both dead?
<< <i>Time to buy. >>
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
<< <i>I'll buy silver later this year when spot drops below $20. >>
If this happens I'll jump in for a ton of 90%.
-D
-Aristotle
Dum loquimur fugerit invida aetas. Carpe diem quam minimum credula postero.
-Horace
<< <i>I sold all of my silver @ $41!
Just started looking into the 1980 spike.... wishing I did the same as you
<< <i>I sold all of my silver @ $41!
I still see some in your registry set
I would have paid even $49 an oz for some of them too!
<< <i>If it hits $10.00 will the dealers sell it for that price... >>
Sure they will. They'll be buying it for $5 from someone who thinks it's dead.
``https://ebay.us/m/KxolR5
Box of 20
http://macrocoins.com
<< <i>It will be back in the $12-15 range soon, where it should be >>
And gas will be $1 per gallon soon. Dream on.
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
<< <i>The wife and I sold it accumulation of old family silver and junk coins at $49 the day it peaked >>
Please give us a "heads-up" on when you are planning to sell more.
<< <i>If it hits $10.00 will the dealers sell it for that price... >>
If silver hits $10, I would be selling as a dealer (if there are any buyers), but I would be one of the only dealers selling at the shows I go to. Actually, that would be pretty awesome from a sales standpoint, and has been on this recent dip. I would also be able to buy Silver Eagles really cheaply from the APs I have accounts with, to replace whatever I sold.
Join the fight against Minnesota's unjust coin dealer tax law.
<< <i>It will be back in the $12-15 range soon, where it should be >>
It hasnt been there since 2007 , there always seems to be an aura of normality when a presedential election is upcoming , like everything is just rosy in the garden..it's not.
<< <i>It is far from rosy and I honesty fear economic calamity within five years. Unless of course we get into a Major land war in which case the economy will grow, unemployment vanish and US factory full production will ramp up dynamically Peace kills the US we need big wars to thrive as a nation >>
If that's true then i'd not weep for the demise of this nation. It might be historically true , in the past a good shootin war cuts down the numbers of young men primarily making things better for those who survive but as we see its temporary. War is not an answer to economic woes.
Best advice I've seen was from Bill Downey who suggested last week that those looking to add to or start a silver stash buy 25% positions at $27, $25, $23, $21.
At least that way you're worst case is $24 and you have 25% of your position in the event silver has already bottomed in the intermediate/long term.
The $26-$27 level is gone for now. Those waiting to go all-in at $18-$20 will probably end up with nothing. There was a lot of fear last week as silver hit the $26 level
again. And you can bet J6P wasn't buying for fear it was going to $18-$24. But the truth of the matter is, once it gets down to $20-$24 old Joe will be even more
afraid of buying as the "going to zero" mentality takes over. At that point Joe will be waiting for $16-$18 and his fear level will even higher. Joe won't buy a single
ounce for fear it will only go lower and lower. Same thing happened in 2008 when Joe promised that if silver ever got back down to $12-$15/oz again he'd back up
the truck. But it crashed through that area to $8-$9/oz and old Joe didn't buy a single ounce....for fear it would go to $6. Same old Joe....same old story.
roadrunner
<< <i>Good luck waiting for sub-$20 silver to buy back in. I'd say the odds of that are about the same as silver breaking $60/oz. this year.
Best advice I've seen was from Bill Downey who suggested last week that those looking to add to or start a silver stash buy 25% positions at $27, $25, $23, $21.
At least that way you're worst case is $24 and you have 25% of your position in the event silver has already bottomed in the intermediate/long term.
The $26-$27 level is gone for now. Those waiting to go all-in at $18-$20 will probably end up with nothing. There was a lot of fear last week as silver hit the $26 level
again. And you can bet J6P wasn't buying for fear it was going to $18-$24. But the truth of the matter is, once it gets down to $20-$24 old Joe will be even more
afraid of buying as the "going to zero" mentality takes over. At that point Joe will be waiting for $16-$18 and his fear level will even higher. Joe won't buy a single
ounce for fear it will only go lower and lower. Same thing happened in 2008 when Joe promised that if silver ever got back down to $12-$15/oz again he'd back up
the truck. But it crashed through that area to $8-$9/oz and old Joe didn't buy a single ounce....for fear it would go to $6. Same old Joe....same old story.
roadrunner >>
I respectfully disagree. One of the main reasons that drove up the price of precious metals in recent years were investors looking for places to park their cash while other investment opportunities soured or nosedived. There are many indications that the stock market, for example, will do well this year, including attractive stock prices, strong corporate earnings outlook, and the fact that the housing and auto markets are finally showing sign of life. Even with high unemployment, consumers are spending again, as can be noted by an unusually strong holiday sales last month. If these other doors open for investors, gold and silver are almost assured to see big declines in their values. Gold and silver are currently at ridiculous levels, and while there may be some gains this year, prices should soften significantly over the course of the next five to ten years, much like they did after the 1980 peak when prices generally slid downward for nearly two decades. This recent "golden" period is over. For those who sold when silver was $40 or better, congratulations. For the rest of you who are buried in such purchases, tough luck, but you should do what most stock investors should (but don't) do and that's cut your losses to a minimum and sell because it's only going to get worse for precious metals.
FYI - Silver and silver are strong today (up 6+% and about 2.5%, respectively)
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
The first timers and speculators who pushed it to the 40's are not in the game right now. Once the 'aura' of ever increasing prices has left the building, it is tough to revive it. Most of The people paying $35+ for silver have only 3rd party reports re: value. Those reports help manipulate the market. The goofballs who write about precious metals...90% of them should be strung up.
Speculative money has gone elsewhere. Industrial demand will drive silver in 2012 and industry won't pay $25+ for ag. I should say, very few will.
IMHO, $20 by 12/30/12. Only because I buy metals for my business. I'd look at nickel as potentially more volatle in 2012. Way more upside if business revives. We just bought 2) 500kg barrels. Way cheap right now.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>I respectfully disagree. One of the main reasons that drove up the price of precious metals in recent years were investors looking for places to park their cash while other investment opportunities soured or nosedived. There are many indications that the stock market, for example, will do well this year, including attractive stock prices, strong corporate earnings outlook, and the fact that the housing and auto markets are finally showing sign of life. Even with high unemployment, consumers are spending again, as can be noted by an unusually strong holiday sales last month. If these other doors open for investors, gold and silver are almost assured to see big declines in their values. Gold and silver are currently at ridiculous levels, and while there may be some gains this year, prices should soften significantly over the course of the next five to ten years, much like they did after the 1980 peak when prices generally slid downward for nearly two decades. This recent "golden" period is over. For those who sold when silver was $40 or better, congratulations. For the rest of you who are buried in such purchases, tough luck, but you should do what most stock investors should (but don't) do and that's cut your losses to a minimum and sell because it's only going to get worse for precious metals. >>
Nothing you said disagreed with my premise that buying silver from $27 down to $21 makes sense. And that waiting for $20 gold or lower is quite risky if you want to buy some eventually. We haven't even begun to see the blow offs in gold and silver which will come between 2014-2020. Fwiw the stock market did well from 2003-2008....that didn't stop silver and gold from having even betters runs as well. There was no lack of performing investment vehicles during the 2002-2011 period, yet gold did the best...by FAR. Commodities in general have been in 3-4 yr consolidation patterns and look poised to make major moves in 2012. I think it's unlikely they will move up leaving gold and silver in the dust. During a currency and debt crisis is when gold performs the best. Housing market showing signs of life? We must live on different planets. Housing probably has another 3-12 yrs in the toilet.
Silver may not exceed $25 this year. But first it has to get to sub-$25. Current all in costs for silver production run about $17-$21/oz. Don't be bamboozled by the reported "cash costs" which don't include many of the costs of mining. When it comes down to it there are very few miners making money hand over fist at $30+ silver / $1600+ gold. Many well respected producing miners had losing 3rd quarters. It's a tuff business, regardless of the price of gold and silver.
roadrunner
<< <i>
<< <i>I respectfully disagree. One of the main reasons that drove up the price of precious metals in recent years were investors looking for places to park their cash while other investment opportunities soured or nosedived. There are many indications that the stock market, for example, will do well this year, including attractive stock prices, strong corporate earnings outlook, and the fact that the housing and auto markets are finally showing sign of life. Even with high unemployment, consumers are spending again, as can be noted by an unusually strong holiday sales last month. If these other doors open for investors, gold and silver are almost assured to see big declines in their values. Gold and silver are currently at ridiculous levels, and while there may be some gains this year, prices should soften significantly over the course of the next five to ten years, much like they did after the 1980 peak when prices generally slid downward for nearly two decades. This recent "golden" period is over. For those who sold when silver was $40 or better, congratulations. For the rest of you who are buried in such purchases, tough luck, but you should do what most stock investors should (but don't) do and that's cut your losses to a minimum and sell because it's only going to get worse for precious metals. >>
Nothing you said disagreed with my premise that buying gold from $27 down to $21 makes sense. And that waiting for $20 gold or lower is quite risky if you want to buy some eventually.
We haven't even begun to see the blow offs in gold and silver which will come between 2014-2020. Fwiw the stock market did well from 2003-2008....that didn't stop silver and gold from having even betters runs as well. There was no lack of performing investment vehicles during the 2002-2011 period, yet gold did the best...by FAR. Commodities in general have been in 3-4 yr consolidation patterns and look poised to make major moves in 2012. I think it's unlikely they will move up leaving gold and silver in the dust. During a currency and debt crisis is when gold performs the best. Housing market showing signs of life? We must live on different planets. Housing probably has another 3-12 yrs in the toilet.
roadrunner >>
Buying precious metals now would be a terrible investment, in my opinion. Silver and gold did moderately well from 2003-08 because it had very little downside left and the tech bust pushed investors into other investments, including commodities (not to mention Warren Buffet's 1998 purchase of 20% of the world's supply). Big surprise that metals began to finally move up. All the reasons that caused metals to skyrocket the last 2-3 years have greatly subsided -- the great recession is all but history, the economy is growing again (albeit slowly), and the most serious international calamities have all but disappeared. Only Europe's debt crisis has yet to be resolved and a growing number of investors believe it will be taken care of this year. That leaves gold and silver back where it was -- a high risk investment that only works with lucky timing and a world that's crashing to the floor. Pardon me if I don't wish anyone good luck with that one. In short, waiting to buy gold or silver is never a risk when there are so many other investment options that are much more predictable under normal conditions -- conditions that we are beginning to return to.
You pick out little windows of time when precious metals beat other investments, but by far and large, they are rare and hardly predictable. Precious metals dealers cherry pick these windows to death when they advertise their wares, but they usually fail to include the "juice" in their little formulas; that is, the difference in price the average Joe buys and sells his holdings makes profiting from precious metals all the more unlikely. Given the current economic conditions, in context, you have given absolutely no sound reasoning as to why this is a good time to buy precious metals now, because this assumes an upside potential to something moving in the opposite direction for the reasons I have already given.
By the way, recent polls are showing a growing number of real estate analysts warming up to the news last November when they learned housing starts were up 9.3% in November, which they might be seeing as a sign that low prices and incredibly low interest rates are once again encouraging many lookers to sign contracts. This activity is happening right here in the United States, which happens to be planted right here on Mother Earth. And speaking of windows, there are plenty of investment opportunities in real estate in certain pockets of the country, not to mention farmland in the Midwest...