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Silver down
Cougar1978
Posts: 10,067 ✭✭✭✭✭
About $30 down at this time. What happened? Currently $80.50
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More people were selling compared to buying.
bubble has popped. see you at $45
This belongs in Precious Metals.
chopmarkedtradedollars.com
it does
Seems like silver being as much as it is has stopped people buying of coins on eBay, at least for me.
Buy the coin, not the silver!
If something goes straight up it’s bound to go down. If I knew it was a correction or a pop in the bubble I’d give up my day job.
PAWNMAN says to keep buying.
I get all of my financial advice from Facebook reels and TikTok.
Who's with me!
Man! I missed selling at the highs AGAIN! Going back to Maryland next week and was planning on selling.
Was running too hot. Will rise again next week!
But what is the new bottom? I don't think it will go back down as low as 45...maybe 65? And true, it probably will spike higher again.
"What goes up must come down
Spinning Wheel got to go 'round
Talkin' 'bout your troubles
It's a cryin' sin
Ride a painted pony
Let the Spinning Wheel spin"
.....Blood, Sweat, & Tears
How does that Mint premium look now?
Yesterday, I stopped at two coin shops: one relatively new owner in his 30s was frozen with yesterday's purchases, waiting for the metals to go back up. The second, a dealer who has been in the business for decades did not change his buy/sells much based on current metal prices and did well over $40k.
I believe that the Precious Metals market, at least for Gold and Silver, is manipulated. It is driven and controlled by wealthy speculators to their advantage and they profit by millions/billions when there are swings like this.
I first started to think this way when I worked in a shop for a dealer who did a lot with PM’s. I gained insight into how “the game” was played. The best example was when Gold was struggling to get past the magical barrier of $1,000/ozt. It would slowly get up to $980-$990 and cause a frenzy, only to fall back quickly to around $870. I worked the counter and watched the cash flow in: people would buy like crazy as it was going up and “panic sell” on the drop.
Then it would hover around $870 for a short while before rinse and repeat!! It actually made it over $1,000 for a brief while on a few trips to the top. Eventually the dam burst and there was that years long period where it crept up/down between $1,200 and $1,900.
Silver did the same as it fluctuated for a long time between $15-$20.
I may be wrong and all that’s happened and happening may be natural market conditions at work. I just see the huge investors, the ones I believe know about and control the top and bottom, selling at the peak and then turning around to buy at the bottom.
"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety," --- Benjamin Franklin
Here’s a link to the Precious Metals forum, where such discussions belong:
https://forums.collectors.com/categories/precious-metals
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Off-topic suggestion.
Expect a "dead cat bounce" followed by another slow but steady decline. The insiders who were in a position to make big money on the run-up are probably out by now. It's time for the little people to take the losses.
i don't expect a dead cat bounce until 65 then to 45
but this will be a rapid decline like in the 80s. the hunt brothers got nailed by the government then, but the market is bursting this bubble. this bubble was inflated on nothing making it easy to take down
I believe in HISTORY when dealing in silver. But then again no crystal ball here
A few days ago while waiting in line, I overheard a guy, after stating that he was fired from the grocery store, declare that he was "backing up the truck" to load up on silver. Then after it hit $200 or $300 in the summer he was going to cash out and use his profits to purchase an entry in the World Series of Poker tournament in Vegas.
Brother can you spare a dime?
Experience the World through Numismatics...it's more than you can imagine.
Did he used to work as a shoeshine man?
There may be only a single buyer for every ten sellers yet if that buyer is purchasing thousands and the sellers are only selling hundreds, the math works out.
Not many gutter buyers these days. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
To put a little perspective on the scenario, silver was $70 thirty days ago and $35 just six months prior.
Practice makes perfect & nobody is perfect. So, practice being nobody.
Silver tripled in 1979 and then again in early-1980. Eventually, we retraced each move.
Silver tripled in 1979 and then again in early-1980. Eventually, we retraced each move.
And in both cases, the supply/demand fundamentals were completely different.
I knew it would happen.
Is that the same PawnMan that was on YouTube occasionally?
He struck me as a guy that had plenty of money, like a laundering money type guy.
Not sure you can use that kind of math in your equations
I have a childhood friend who is now 60 asking me about where to buy silver
If that doesn't add kindling to the, It's Different This Time Discussion...
While Yahoo news says it was because of Chinese speculatores Look no further, it was an engineered bank rescue
If it walks like a duck . . .
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong
We've seen this story before. Welcome to the gutter. She never disappoints. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Wow lots sales huge $$$ profit for many when it hit but the fun ended abruptly.
Many buying silver coins say 1.5 to 3yr ago banked big time, huge celebration. Some, going for the jugular even took some of theirs off mkt in anticipation of higher silver prices (mistake). The market then crashed. Outlook from here?
I believe it will rebound. Recommend for investment nice slabbed silver bullion coins / USA, Mexico, Australia, Great Britain. This material is widely invested in and affordable.
I tried to tell them this a year ago. They laughed. Now I laugh.
Knowledge is the enemy of fear
@RedneckHB said:
I tried to tell them this a year ago. They laughed. Now I laugh.
@jmlanzaf said:
Regardless, there is never a buyer without a seller
I was selling silver all weekend, including foreign silver that was 0.640 fine. There are still a LOT of buyers.
Laugh all you want, coho. This is just an example of the way you love to twist the meaning of what people say.
I knew it would happen.
The stuff some of you guys say is so weak and malleable its like a wet noodle in a hurricane. Much harder to twist fact than unsubstantiated opinion. Stick with the facts jmski. Life is easier and more enjoyable.
Knowledge is the enemy of fear
"The reports of my death are greatly exaggerated"
Loves me some shiny!
“Often wrong, but never in doubt.”
Silver is down ? That must be why I sold a few thousand dollars worth of
”blitzdude’s junk” in the form of .900 U.S. Walking Liberty, Franklin and Kennedy half dollars , today.
54.34 X face value. Just bought some of it last week at 69 times. Junk will keep greasing the wheels of commerce until it doesn’t.
Practice makes perfect & nobody is perfect. So, practice being nobody.
I made a killing on silver bullion coins had been stockpiling last 18 months. Sold a lot at the high, many that were slabbed got more. Then it crashed. Now sorting outlook. At the peak felt it had potential go much higher.
I have to laugh when I look at today's price chart. Longterm holders of silver know what's going on. Wash, Rinse, Repeat.
I knew it would happen.
Lighten the load when the prices are high, anchor yourself back in the gutter when it goes on sale. Just stay away from anything not .999 ASE. BOOMIN!™ THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
china, taiwan, hk has lunar new year vacation all next week
She's still churning profits for most stackers.
"Money does not care about speeches on morality. Capital asks whether the rules will remain the same tomorrow. With inflation, people assume price is the problem, and propose regulation—but price is simply the message." - Martin Armstrong