$60.00 an ounce Silver Today.
jfriedm56
Posts: 2,608 ✭✭✭✭✭
Just hit another milestone. $60. futures. Wow! Keep on Truckin’. Zack
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jfriedm56
Posts: 2,608 ✭✭✭✭✭
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merry christmas for the time being
Not surprising, I sold some last week.
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Don
Yep, the price is discussed actively in the PM forum. https://forums.collectors.com/discussion/comment/14016250#Comment_14016250
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It is wild to see war nickels melt at $3.25+ and silver dollars melt at $45+
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OK guys. It's time to trade junk for nice attractive 90% silver. In a few years everything will be gone but 90% if we try to conserve it.
kitco is showing 60.70 right now
I'll be glad when all the 1901-s quarters in AG are gone.
Still not much of a jump in MS63 and MS64 common date Morgans, etc..
Dang, and I sold a bunch when it was around $50. Oh well.
Collector, occasional seller
Closed at 61.20 today
To the moon Alice?
I should perform an inventory of the silver coins sitting in my collection. It would be interesting to learn how many ounces of 90% and 40% silver I have (many of which were pulled from circulation decades ago).
In real (disinflated) dollars, its got a way to go before ATH!
The relative worth of $50 in 1980 is $197.14 today using the Consumer Price Index (CPI)
Long way to go.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Hard to justify using that as a valid point of comparison, given that the $50 was an artificially manipulated number. Based on $4200 gold, silver arguably has to get to around $100 to approach historical norms, rather than $200, based on an extreme price realized when a billionaire was actively manipulating the market in an attempt to corner it.
What ratio are you using to justify $100/ounce silver based on $4200/ounce gold.
if its 1:90 that's is a price of $46.
Llamas and alpacas are camels. They aren't like camels, or related. They are camels. When was anyone going to tell me this?! How long had Bill Nye been holding out on us?
Right. So halve that to get to an approximate midpoint between 16:1 on the low end and 110:1 on the high end. Around 40:1 gets you $100 silver with $4000 gold. Maybe $80 if you want to go to 50:1. $100 at 50:1 as gold pushes toward $5K, which seems very plausible.
90:1 today is no more consistent with history than 16:1 was in 1980. My point was not to be precise to the penny. It was only to note that $50 in 1980 was a manipulated aberration, so saying silver needs to go all the way to $200 to reach that value in current dollars ignores the fact that the $50 was a manipulated price that is unlikely to ever be possible again.
I happen to think that the price of silver will be reasonable when it reaches a 40:1-50:1 ratio to gold. Not 16:1, not 90:1, and not 110:1
And you dont think the price isn't manipulated now?
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Chaos continues.
No. Certainly not like it was. Is one person trying to control all the supply?
Many have claimed it is being manipulated to keep it down. Is that what you are suggesting? If so, that is clearly not working.
As a coin collector, be careful what you wish to happen. Bullion and numismatic values are in the process of getting a divorce as bullion goes higher.
Today I stopped at our local dealer, one of Coin World's Top 100 influential, to sell some 90% silver taken from circulation long ago .
If I had $1,000.00 face value to offer, their offer was $38 per $1. Otherwise, $30 per $1.
Guess I'll need to hold on a little longer.
Yes, just because prices are $60 an ounce that doesn’t mean that dealers have to pay that much. They can charge what they’re comfortable with to insulate themselves from the chaos.
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My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I was at a small local show Sunday. There was one dealer who was paying 35X.
That's where also owning the SLV ETF is worthwhile for short term trading.
Silver stocks are acting like 1999 tech boom. I like HL, PAAS, CDE, SLV as a counter to the dollar devalue.
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I am new to this site,what is meant by $38.00 per dollar or 35x when it comes to selling 90% silver coins.
That means “times face value “…..10 silver dimes = $1 in face value, so 35x means someone is paying $35 for 10 silver dimes, or $3.50 each.
There is also a Precious Metals forum where topics like this are exclusively discussed.
Wholesalers (upstate) are at NEGATIVE $5.50 on 90%. Even at $60, that is only 39x
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This is the threat. The short sellers are still deep into silver and will either cover or go bankrupt if prices head higher. Either way this will work like throwing gasoline on the fire because covering means they have to buy vast amounts of silver and going bankrupt means silver people believed existed never did because these are naked shorts: not covered by actual silver. There is a limited supply of silver and the only sellers have 90% US coin.
I'm beginning to think that common date XF and AU morgans would get more money selling at melt than gambling on ebay at this point.
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I had a local guy call me with around 20# of silver last week, probably $15K worth or so at the 38.25 I was quoted by a major area buyer on Friday morning. I told him that JM Bullion, Provident or Apmex would give him more and he needed to ship.
“Sixty seventy” ….
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