Who has backed up the truck??
keets
Posts: 25,351 ✭✭✭✭✭
Many years ago, maybe 5-6, lots of guys were saying that when Silver got under $15/ozt. they'd be "backing up the truck" and buying. Just a short while ago I did a sale at $13.67, went to our storage room to move a few cars and when I came back the price had fallen off a cliff at close, down to $13.12.
Has anyone loaded up yet or at least filled the tank(at under $1.60/gallon to make a haul??
Al H.
Has anyone loaded up yet or at least filled the tank(at under $1.60/gallon to make a haul??
Al H.
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https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
$13.12? WHere is that reported?
THIS
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
Anybody filling up their silver quota at these seemingly bargain basement prices?
I've been too busy collecting rare coins whose numismatic value far exceeds their silver content.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
You may want to ask that question at the Precious Metals board
Yes my thoughts also!!!!!!
$13.12? WHere is that reported?
It was down $.77 an ounce for awhile.
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"Our most valuable resource sits 63' ahead"
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working on proof shield nickels # 8 with a bullet!!!!
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I am thinking about getting 40k. Have not done the math but I doubt it will fill the bed of my power stroke. I don't see it doing much for a while but it will be more interesting that my CD's for sure
$40K will get you about 5 monster boxes. Might fill a wheelbarrow!
returning to the original question, has anyone backed up the truck yet??
It will be $13.12 by then
well, checking back at the site we reference you can see it's posted at $13.73, but if you look at the chart around 5-5:30 you'll see the dip I was talking about. perhaps it was some kind of glitch but it really freaked me out.
returning to the original question, has anyone backed up the truck yet??
Not here!
Funny how much more popular it is when rising in price.
When is a good time to start collecting ? I think the sooner it gets in a holder, the better.
I'd say this is a legit dip, even if it drops further. I'm not the one to call the floor. I guess buying some low covers the amount one is underwater in. Not buying doesn't cover anything.
On May 4th, 2006 to be exact.
I used to trade commodities futures and I got some of Warren Buffets money from him when silver took off.
They used to let him trade contracts based on the 100 million ounces of silver he owned.
When silver rose, he would sell short and when prices fell, he'd buy it back again pocketing the difference. Until one day even he couldn't control it and lost all his silver. He controlled the silver market for years. Now they say the Chinese are doing the same thing with gold.
A silver contract is for 5,000 ounces. Futures work by putting a deposit down on a contract to either buy of sell 5,000 oz. for future delivery from days to months away.
What happened today is the same thing that happened back in 2006 from this chart.
Somebody dumped a lot silver on the market, sending the price way down. Here it dropped from $14.25 to $13.10 in a matter of minutes. A stop loss order would have done nothing, since it just goes to the market and if there are no buyers you just have to wait until they come back in - at a much lower price.
Here each 5,000 oz contract would have lost $5,750 per contract.
You can make and lose fortunes in the futures market very quickly.
I keep this chart as a reminder that I should stay away from futures markets (at least I try to.)
You can read about Buffet losing his silver here
This level was immensely strong resistance at one point so should be strong support. It seems these markets are all being manipulated but now fear is driving everyone into equities and it's no longer necessary for government to hold metals or commodities lower because everything's in free fall.
Inflation is a horrible thing and destroys by warping markets and causing individuals to make very poor decisions. But whatewver this is is likely far more destructive as business gets increasingly efficient at producing waste and destroying resources. This waste is the only game in town so it is what's attracting investment dollars as the last vestiges of capitalism are exported and ever more debt is imported.
Every year it gets harder and harder to make good predictions about the economy and every year it becomes ever more apparent that our entire economic structure is unsustainable. Now the leaders want to waste ever vaster amounts to create ever more CO2 in order to combat global warming. This is just another elephant to be juggled by an overworked and insufficient infrastructure. Rather than increasing efficiency to unburden the taxpayer and debtors we are giving them an ever greater weight.
I suppose at some point gold will shoot up to two billion dollars an ounce before plummeting to essentially worthless as the markets are "realigned" in a few minutes.
There's an ancient Chinese curse; "may you live in interesting times". It appears they've managed to not only counterfeit everything that isn't nailed down but to also give us some genuine interesting times.
I would be backing up much more if the premiums were lower.
Do you expect people to sell at cost? In order to be in business, you have to be able to stay in business. You can't stay in business if you don't cover costs and make a fair profit.
Choice Numismatics www.ChoiceCoin.com
CN eBay
All of my collection is in a safe deposit box!
Bought more silver today. Had to borrow more of the banker's money but hey… his works just as hard for me as I work for his.
Great photo..
when I worked for my boss back in 2008-2009 there was a period when Gold was stuck between $870 and $1,000, an almost 2-3 week cycle that would go up to around $1,000 before it slid back under $900 for the next round. buy low and sell high!!! with Silver at close to what it is now the ratio was about 66:1 and no one said anything. when Silver peaked at about $50 that ratio was 34:1, but it didn't stay there for long and started the slow creep. at close yesterday it about 77:1 which to me is outrageous. if Gold were the same and the ratio were at only 50:1 the price of Silver would be over $21. I think 50:1 is about as realistic as those in control will allow and I would ask which is more likely to achieve that, Silver going up or Gold going down??
these are some of the reasons why I collect Numismatically.
the manipulation, those who win, strut in pride at their own imagined genius.
Cheers, RickO
I have some left. Unfortunately.
Will never buy again at any price over 4 bucks.
It is NOT a "monetary" asset.
I might be willing to put some in the oven to see if I could make some pie in the sky.
Silver will ALWAYS collapse.
In my very very very ...humble....
Anyone backing up a truck for SILVER must have good insurance.
I have some left. Unfortunately.
Will never buy again at any price over 4 bucks.
It is NOT a "monetary" asset.
I might be willing to put some in the oven to see if I could make some pie in the sky.
Silver will ALWAYS collapse.
In my very very very ...humble....
Could it be that at these prices silver is good insurance?
The price of gold is set by faith, or lack of, in the currency it is priced in.
For those with a "doomsday" mentality, one possibility is to buy bags of 40% silver half dollars. They are bulkier, but if silver collapses entirely you can spend them. Unfortunately, if the U.S. economy
collapses, a Kennedy half dollar may go with it. Oh well...
The Canopener Bridge
I love their videos. That bridge is right across the street (sorta) from my alma mater.
I have driven under it numerous times and the roof of my then subcompact Ford Focus remained firmly intact!
If it's a windfall of say $40,000 then dollar cost average over 24 months would be my advice.
Latin American Collection
Hoard the keys.
I sold mine as I bought it, so I'm good.
Now, I did spend quite a few dollars on higher end collector coins, which if now I had to sell, would most likely loose $, but I can enjoy looking and owning these, unlike bullion which I hate.
The name is LEE!