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
Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7
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
This is shaping up to be a buying panic.
Wait until silver starts evaporating and there are fewer ounces to chase than is apparent.
It’s not so much that PM’s are so good, it’s more of a paper money sucks thing. Printing paper money backed by nothing is a bad idea.
I’m very sure it will keep going up and maybe faster than gold. I have never lost money on silver or gold.
No I'm not
Whos buying at 60,
The past week and half, zero sales. In fact, been turning thousands and thousands of oz down, I have no buyers at all, ZERO
This topic is well discussed in the Precious Metals Forum. https://forums.collectors.com/discussion/790471/congratulations-to-silver-new-all-time-high-49-82
http://ProofCollection.Net
It is amazing that pre-1964 US 90% stuff keeps coming out for the smelters. Would have thought it would have been long gone years ago. It will not be long before common certified Morgan’s start getting cracked out of holders. Whitman albums of circulated grade stuff coming out of grannie’s attic.
Gonna have to be satisfied to collect Lincoln cents. Oops, just saw current Lincoln’s going for $129.00 each on TV,,,
>
Tripling your money on a commodity that historically isn’t even a good investment but more of a hedge? It’s not the norm. It’s not the new norm either.
Up another buck: https://www.kitco.com/
People are seeing a lot of opportunity and have been buying....Most of the gold I sold earlier in the year is up a thousand bucks an ounce.
The markets will shut down again due to another “cooling system failure” at the server farm.
It's not quite that simple. The form of the silver matters. If they aren't comex bars, there is processing required.
It also depends how much you have. You can't flip 1 oz profitably.
All comments reflect the opinion of the author, even when irrefutably accurate.
Retail coin buyers are a tiny blip in the market.
All comments reflect the opinion of the author, even when irrefutably accurate.
Spot is not Comex bars. That's futures.
Spot is generic silver. And US Government silver is better than generic silver.
Dealers are just screwing people. Because spot is spot. And there is a VERY liquid market at spot.
Argue all you want. I'm not wrong.
Apmex publishes a bid/ask spread. The difference represents a liquid market dealer markup. Anything beyond that is called "excess profits" where I come from.
There is no "processing" involved in buying and selling ASEs. Just screwing the public. In and out, if the bid is below the widely available published bid. The ask is a different story, since ASEs trade at a premium to spot. As a result, the dealer bid should also be above the bid, because they cannot buy fresh ASEs from the Mint at spot.
Im telling you , the firms we ship too, who in the past have been pretty darn fair, are getting farther and farther back from spot. Not only, processing times are strung out farther. Also, some firms are using impaired/ non fresh too describe everything you ship them or sell to them (even if not so)) so they can be less. Been not only my experience lately, but several other dealers I ve talked with.
Again, it's not that simple. Spot price is comex bars and the like because it is set by institutional buyers. If you walk into a BM with a 1 oz silver bat, what is that store going to do with it?
There aren't enough retail customers coming in to buy that 1 oz bar. So you have to aggregate. If you sell out to a wholesaler, it has to be shipped and it will be melted. That's not free.
My friend was buying at $52 Friday. He scrapped it at $54. That is hardly dealers ripping people off. And he only got that price because he has volume and is near a wholesaler.
There is not a line of buyers that matches the line of sellers. As is often the case, you are way off base. I'm rather surprised you don't know more about the business [See @jdimmick post above]
Apmex is not a small dealer. You ARE wrong.
All comments reflect the opinion of the author, even when irrefutably accurate.
I know more about this than you think. If your friend made a $2 spread when the published bid/ask spread was $1.33, he made $0.67 too much. Which is 50%, for those of you keeping score at home.
The person talking about $1,000 loaves of bread earlier today is not really in a position to lecture people about being way off base.
No. Silver is leading gold now. This is because there's a growing recognition of a silver shortage. There can't be a gold shortage because as price goes up there will be an equilibrium between supply and demand fixed by deficit spending and inflation. But they need silver delivered and without our coins every other source has already been tapped. The people buying silver have giants corporations, governments and eight billion taxpayers backing them.
Decades of allowing the banks to spoof silver have created a situation where the silver is gone, wasted, and shuttled into garbage dumps because bankers could get rich by breaking the law. Those who are still short are paying a very heavy price.
This isn't about chaos, it's returning sanity.