Silver hit $56!!!
Coins3675
Posts: 953 ✭✭✭✭
What is your prediction for silver prices after Christmas?
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Coins3675
Posts: 953 ✭✭✭✭
Comments
It wb moving up. But sure enjoy my silver material worth more.
it will go up and down, daily.
Not sure. But if it hits $60 some will probably say it's due for a crash or it can't go any higher.
It's only just begun.....
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
The question is, whether this has much of a positive effect on certified silver dollars?
The Carpenters 👍
Silver's been undervalued for a LONG time.
I wouldn't be surprised to see it keep moving upward.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
MS64 CACG generic SD CDN bid at $100 for sometime. Would think it will move up.
After a while, it will if the bullion price gets high enough. Once more we may be looking at a situation where melt values will exceed numismatic values, which is unfortunate. Many modern silver Proof quarters are already being cracked out and put into silver coin junk boxes.
It closed yesterday at 57.085
I think its going up to $150.
Ive been saying to family that silver would rise.
Student of numismatics and collector of Morgan dollars
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It will if spot continues up, I think $75 silver and $5K gold is coming next year. I already have several common date low MS certified Morgans that I bought for less than $50 which are on the bubble even now.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
John Paul Jones!
This has been going on for years., "Everybody" wants one and has one but nobody wants quantities. They were being melted in '08 and '11 as well I believe and almost continuously since covid.
A lot of US silver coins made since 1941 do not exist in the same percentages as their mintage. Melting doesn't take out only the worst but only the hindmost. Stuff that hangs around because no one wants it gets melted. Then they add in things that are too much trouble or very low profit margins. The dregs go first but everything follows.
$60 next target
😈
As long as chaos reigns the price will continue to rise. If chaos ends expect a big decline.
Alternate view, the US dollar is crashing. People who think they are selling high might just be trading for dollars that are doomed to continue to lose purchasing power. Now there is a case for perhaps trading silver for gold if one thinks that what the gold/silver ratio suggests is prudent.
Imagine if silver matched the old US numismatic ratio of 20:1 (gold double eagle vs silver dollar). That would suggest $200 silver for $4000 gold. Not saying it is appropriate, but a thought.
Shades of the Hunt brothers
Many successful BST transactions with dozens of board members, references on request.
Absolutely zero in common, this run has nothing to do with a couple of super rich guys trying to corner the market.
For those that like to chart, silver is currently in a triangle breakout pattern. At least one chart analyst is calling for $70+ as the next stop.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
You had best hope that the crashing U.S. dollar does not happen. Yea, there will be huge prices for the gold and silver you are holding, but the money you use the live everyday will be in the tank. In the end you will have gotten nowhere, probably worse off. The high medals prices don’t thrill me. I just shake my head at the foolishness.
As for 16 to 1 ratio, it seldom worked the 19th century and won’t work now. There is economic rule which says that there is a fixed ratio in value for those two commodities. The bimetallic system didn’t work, and it caused its share of problems.
$60 very very soon, I think we’ll see it over $100 in the next year
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The reports of the "demise" of the US Dollar are premature. The end has been predicted many times.
But history indicates that the future will be a continual erosion of the purchasing power of the Dollar.
High precious metals prices are not "foolish" on their own, but are caused by foolish fiscal policies.
A 16:1 ratio in the prices of gold and silver was artificial after about 1870 when mining of significant silver deposits increased in the western United States. But there is a valid free-market price ratio to consider. The ratio has been as high as about 100:1. The lowest ratio was the 16:1 previously mentioned. The current ratio (about 75:1) is still historically high. I think 60:1 is possible, if not somewhat lower than that.
PS:
There is nothing wrong with high "medals" prices
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I've never seen such a recent multi dollar rise in silver like this: https://www.kitco.com/ Short cover, blue sky breakout?
Paper price is $56 but dealers are only offering $45-50 in the physical world. Stuff like 90% and less the refiners don't even want it. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
I’m sure the guys who bought 100 oz. bars at $16 an oz. are ok with getting $45 to $50 for it now.
It would be nice if silver hit $200 @alefzero
Expect to see fewer and fewer cull silver coins in the future. These are likely to go into the melting pot. Back before the great 1979-80 silver price run-up things like Fr. to AG Barber Halves were quite common. After the run-up it appeared the supply had dropped sharply. There were also a lot of cull silver type coins that seemed to disappear during that period. These were coins that were commonly found in local dealer junk boxes.
You need to move.
All comments reflect the opinion of the author, even when irrefutably accurate.
I'm sure most of them were hoping to see melt. Perhaps if the price remains elevated the glut will eventually clear but we are talking billions of ounces here. I expect that to take quite some time. No such issues with the gold. The gutter is far from precious.
P.S. I'm told those 100oz'ers make good doorstops/boat anchors. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Assuming any fixed ratio between the prices for gold and silver is folly. When the Coinage Act of 1834 was passed, which started the 16 to 1 ratio, the value of silver was too low which pushed those coins out of circulation. The Coinage Act of 1853 reduced the weight of silver coinage for all except the silver dollar. It was worth more than melt which kept that already unpopular coin out of circulation. The Comstock Lode and other silver strikes reduced the melt value of the silver below its face value. The prices for gold and silver are two moving targets. No fixed price ratio between them will last for long.
The high metal prices are ruining the collector market for high denomination gold coins. It could do the same for silver eventually. Bullion gold coins, like the AGE, have a limited appeal for me. As a collector, I prefer the pre 1933 pieces. High gold prices ruin that market for most middle income collectors.
Actually, spot is a physical price. As opposed to futures, which are paper.
According to my interweb, right now, as I post this on Sunday morning, closing futures on Friday were $57.03. Spot, according to Apmex, right now, is $55.33 Bid, $56.67 Ask.
Anyone offering $45-50 right now is just charging a ~10% commission to stand in the middle of a highly liquid transaction. It is not a reflection of pricing in the physical world.
The buyers at $45-50 can easily get a risk free flip at $55.33. Period. Just like we do at 7:30 a.m., chasing Mint sell outs that are going for 2x or more on eBay.
the paper shorts no longer exist, and the commex and Lbma vaults are empty, and market down days will be few and far between