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Silvers on a tear!
MilesWaits
Posts: 5,566 ✭✭✭✭✭
In the span of one minute of copying and pasting from the Kitco pricing, silver went from $20.01 to $20.15 and rising. So, my question is...how many of you, like me, recently got a 20 pack of something silver?
I ordered 20 (a roll) of those lovely new 2008 Philharmonics from Southland..still waiting for delivery. I will post pics when they arrive.
Hi Ho!
Miles
I ordered 20 (a roll) of those lovely new 2008 Philharmonics from Southland..still waiting for delivery. I will post pics when they arrive.
Hi Ho!
Miles
Now riding the swell in PM's and surf.
0
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Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
RJ
Luckily they were willing to send the silver first before I send payment so I have 0 risk.
Speaking of which, my earlier proof silver eagles are now nearly worth spot!
Yes, selling counts. Just as long as it is in the denomination of twenty(20).
Miles
- Jim
Should I sell some and profit?
Most of the silver I purchased was from $5 - $13 an ounce, sweet profits, but I'm long.
I just wish I had a future edition of the NY Times.
I keep waiting for a dip, before you know it it will be at $40.
<< <i>I bought into the silver run-up fever of the late 1970's, watched it peak at $54./oz. and then suddenly crash in March , 1980, so I'm just gonna sit on the sidelines this time around, eat popcorn, and watch others have all the fun.
Yeah, Jim, but I believe the circumstances were entirely different than today. Back then, the Hughes brothers were buying up silver and then demanded delivery of the silver metal. No one ever demands delivery of a position that size, and it sent the silver market into a frenzy.
And, China and India were just curiosities. The demand for all metals has been and is rising due to the rapid development of those countries.
I think buying some and holding long, even though it will surely correct in price along the way. I have a couple of 10 oz bars I bought at $40 each way back when. When silver went to $7 an ounce, it looked too expensive! LOL
I just bought another 10 ounce bar yesterday at $220. It will go in the closet until silver hits $50 an ounce again.
Cheers!
Bob
Vietnam Vet 1968-1969
It's a small point, but just in case someone tries to Google it or look it up elsewhere, it was the Hunt brothers who made the late-70s attempt at cornering the silver market.
<< <i>The short position in the silver market has been enormous for a very long time. I'm not surprised at all. >>
Some of them are though.
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<< <i>[q Back then, the Hughes brothers were buying up silver and then demanded delivery of the silver metal. No one ever demands delivery of a position that size, and it sent the silver market into a frenzy. >>
It's a small point, but just in case someone tries to Google it or look it up elsewhere, it was the Hunt brothers who made the late-70s attempt at cornering the silver market.
The Chiefs will win the Super Bowl this Year..................
Hunt brothers...their failure to meet margin? calls on silver options caused the collapse...
The measure of intelligence is the ability to change.
Albert Einstein (14 March 1879--18 April 1955)
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
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SSDC - Life Member
ANA - Pay As I Go Member
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>I've been putting all my "play" money into silver ASE's and, every once in a while, a gold Buffalo. Metals have not found their top yet and I have no clue what that is. Maybe when money starts going back into the stock market metals will level off. >>
Why would anybody put money into the stock market right now? lol!!
<< <i>"Back then, the Hughes brothers were buying up silver and..."
Hunt brothers...their failure to meet margin? calls on silver options caused the collapse... >>
Well.............. not exactly.
I believe the big financial houses and our crooked Congresscritters changing the laws after the fact led to the collapse.
The Hunts and the House of Saud would have owned our major financial institutions and a hefty part of Wall Street.
Bought and paid for politicians weren't going to let that happen to their financial masters.
Just keep that $$ coming in boys, along with that under the table stuff, and we'll save your sorry hides.
Try and find a copy of "Beyond Greed" and you too can learn the real story.
A lot of what you read today is revisionist history, I'm sorry to say.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
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I just saw it at $20.30. You can't go broke taking a profit but I think it will continue to climb. Any suggestions?
eddye mack
Of course it's over 20. I just sold 800 face Friday at 19.76 oz.
<< <i>[q Back then, the Hughes brothers were buying up silver and then demanded delivery of the silver metal. No one ever demands delivery of a position that size, and it sent the silver market into a frenzy. >>
It's a small point, but just in case someone tries to Google it or look it up elsewhere, it was the Hunt brothers who made the late-70s attempt at cornering the silver market.
An understandable mistake. Those Hughes brothers were trying to corner the market on used model T radiators during that time.
thank goodness for my gold though :-)
just completed 3d tour to Iraq and retired after 28+ years in the US Army
And for the sake of squeezing the shorts, I bought the physical metal, lol.
I knew it would happen.
roadrunner
<< <i>
<< <i>I've been putting all my "play" money into silver ASE's and, every once in a while, a gold Buffalo. Metals have not found their top yet and I have no clue what that is. Maybe when money starts going back into the stock market metals will level off. >>
Why would anybody put money into the stock market right now? lol!! >>
I put in a dollar and my employer puts in 50c. That's an immediate 50% return on my money. Even if the dow loses 30%, which it won't, I'm still ahead.
This Silver Run has surpised me in it's intensity. That Big Green Monster Box is calling me.....
By the way, I see APMEX has got no more 2008 Silver Philharmonics! Guess they were short on supply as their ad said?
Miles
Bob
Lordmarcovan, WTCG, YogiBerraFan, Phoenin21, LindeDad, Coll3ctor, blue594, robkoll, Mike Dixon, BloodMan, Flakthat and others.
<< <i>I guess those $20 Liberty Dollar coins really are worth $20 now. >>
yup!!!
<< <i>
<< <i>"Back then, the Hughes brothers were buying up silver and..."
Hunt brothers...their failure to meet margin? calls on silver options caused the collapse... >>
Well.............. not exactly.
I believe the big financial houses and our crooked Congresscritters changing the laws after the fact led to the collapse.
The Hunts and the House of Saud would have owned our major financial institutions and a hefty part of Wall Street.
Bought and paid for politicians weren't going to let that happen to their financial masters.
Just keep that $$ coming in boys, along with that under the table stuff, and we'll save your sorry hides.
Try and find a copy of "Beyond Greed" and you too can learn the real story.
A lot of what you read today is revisionist history, I'm sorry to say. >>
For those who don't want to buy the book, here's an online summary about the Hunt brothers.
Hunt brothers shenanigans
- Jim
<< <i>
<< <i>I bought into the silver run-up fever of the late 1970's, watched it peak at $54./oz. and then suddenly crash in March , 1980, so I'm just gonna sit on the sidelines this time around, eat popcorn, and watch others have all the fun.
Yeah, Jim, but I believe the circumstances were entirely different than today. Back then, the Hughes brothers were buying up silver and then demanded delivery of the silver metal. No one ever demands delivery of a position that size, and it sent the silver market into a frenzy.
And, China and India were just curiosities. The demand for all metals has been and is rising due to the rapid development of those countries.
I think buying some and holding long, even though it will surely correct in price along the way. I have a couple of 10 oz bars I bought at $40 each way back when. When silver went to $7 an ounce, it looked too expensive! LOL
I just bought another 10 ounce bar yesterday at $220. It will go in the closet until silver hits $50 an ounce again.
Cheers!
Bob >>
Good points Bob, but I'm still gonna sit this cycle out. What's that old saying? Burn/fool me once, shame on you. "Burn/fool me twice, shame on me!
- Jim
Unless its in a pcgs ms69 holder......in which case it seems to be sinking like a rock.
Got ms70s?
--------
Howdy from Houston...
Can't keep my eyes
from the circling skies
Tongue tied and twisted
Just an earthbound misfit,
I
">my registry set
Yeah, having lived through only one PM bull market, I was told that would happen but now seeing is believing. I can't believe how many "numismatic" coins/etc. have seen the premiums evaporate so quickly.
Glad I am so blind to be in love with bullion!
Miles
Now I am in the same boat here with this price of silver.... I have a nice little stack that I am sitting on with a lot of profit, and to be honest I have no idea when to sell the stuff... The gut tells me to hold on because none of my friends are buying this shiny metal yet. The one thing I can be sure of though, as soon as they start buying, I will be all over those BST boards selling my metal....
I didn't like selling my stocks in the 90's and I sure am not looking forward to selling my silver, but I am starting to think about it.... I would be much more comfortable with a nice slow steady gain in silver. This straight up pattern is scaring the crap out of me.....
Guess I am just waiting for one of those college beer buddies to start buying before I sell....
Let's put things in perspective here. If you have a position in PMs, a straight up pattern is infinitely better than a straight down pattern.
Secondly - yes, the market will probably overshoot the true value of all of the PMs but if you are building a position incrementally, no spike is going to affect your ability to sell within a reasonable distance from where you built your base, if you should want to.
The fundamental fact is that the dollar is in a free fall at this moment. Until U.S. economic policy changes visibly, why would the dollar start to appreciate? The emotional response to inflation is the dollar's free fall. But until they move decisively to stop inflation, there is no reason to think about selling. Is there?
I knew it would happen.