Silver up almost a buck...again
homerunhall
Posts: 2,496 ✭✭✭
When silver hit $30 I thought..."Wow, I should have bought some silver. But I guess I missed the move and I certainly can't buy at $30." Oh well, that's how smart I am.
Pretty incredible...I guess the dollar really is toilet paper.
hrh
Pretty incredible...I guess the dollar really is toilet paper.
hrh
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silver is in it's own little overblown world.
and this is while I'm still buying silver. I hope I can unload what I just bought at a profit.
Russ, NCNE
panic will ensue. It hasn't started yet most probably. When silver gaps higher by
a few dollars that will mark the onset.
Of course I've been wrong before.
<< <i>When silver hit $30 I thought..."Wow, I should have bought some silver. But I guess I missed the move and I certainly can't buy at $30." Oh well, that's how smart I am.
Pretty incredible...I guess the dollar really is toilet paper.
hrh >>
All fiat currencies eventually become toilet paper. It is inevitable. Good to collect though, especially when we will have to have $1,000,000 notes in circulation.
It's amazing the dollar has lasted as long as it has with no PM backing. About 40 years so far, I think.
<< <i>There may be quite a reduction in certain silver coin populations in the future but unfortunately we will not know how much. >>
From a collecting point of view that reduction in population will be good news. More coins will accidentally become 'numismatic' coins.
CHART OF THE WEEK
"Silver, where half of the world’s consumption is from industry, offers better returns
than gold because it benefits from rebounding global economy as well as demand for
a haven, according to UBS AG." Silver holdings now exceed gold holdings.
If manufacturing ever picks up there could be even higher demand on silver supply.
No way!
This is only the start. We will see $50 soon, then $75 by early summer if not sooner.
May even reach $100 but I think this is more fantasy at this point. I think $80-85 is the top end of this cycle. But, I do not think silver will ever be under $35-$40 an ounce again.
BTW, this thread belongs on the precious metal forum
I wonder how come the "wrong forum" brothers ain't jumpin' in right about now.
Don't feel bad, I think this huge move up in silver from the mid teens to the mid 40's recently caught a lot of people off guard. It seems like only yesterday I was buying Johnson Matthey 10 oz. bars at $140 - $160. each. I guess the real question is.....should we be buying here in the mid 40's?
I sold some of my holdings, at my local B&M, on 4/1. (I know, April FOOL!)
I came home with a $3000 coin and $1500 in cash.
Last Friday I sold some more.
Had to come up with the funds for the ATB pucks I bought @ below spot.
For all you whiners who complain about people posting about PM's on this board,.....
THE Boss has spoken!
<< <i> ..... If manufacturing ever picks up there could be even higher demand on silver supply. >>
I recently read an interesting piece where it was pointed out that should silver remain at these lofty prices, then manufacturing entities will start looking for and using alternatives to silver very quickly to keep production costs down. May work in some industries, and not in others initially, but alternatives will be sought out. What this does to the silver market long term is the big question.
For now it seems that there is no ceiling, but we all know everything works in cycles.
Positive BST Transactions: kalshacon
I knew it would happen.
<< <i>I wonder how come the "wrong forum" brothers ain't jumpin' in right about now. >>
God Curly, if you only knew how many times I've told myself, "Don't pull on Superman's cape" in the past 45 minutes!
<< <i>I wonder how come the "wrong forum" brothers ain't jumpin' in right about now. >>
Because this thread was started by HRH
<< <i>HRH, you're welcome in the Precious Metals Forum anytime.
We feel left out
Bought a boatload at $4-$14. Wish I had next years newspaper.
I remember buying a 100 oz. bar for $600, sweatin too, my first roll of ASE's (1999) for $100.
Currently a roll of ASE's is nearly $1000, hard to believe.
Gas down the street is $4.35 for super, and $4.10 for the crap, guess it's all relative.
When can I start using FRN's for a$$ wipe?
EDIT:
I'm pulling copper cents from the local banks twice a week, and returning the zincolns to my branch at no charge.
Guess I'm a fool. What do you think poor mans silver? Any technologies in the radar, that will consume copper in the future?
<< <i>it's a price bubble.
silver is in it's own little overblown world.
and this is while I'm still buying silver. I hope I can unload what I just bought at a profit. >>
Completely agree.I have stopped buying rolls of SAEs and large amounts of ag.Right now buying world silver ounce coins..ie pandas and libertads one coin at a time.Anywhere you go ASEs are about $50.Yesterday someone posted a link to a site where they bought 2 for $55.When I went there the SAEs were $55 each.The only bargain is the hockey pucks at under melt.Waiting for my apmex order to come.
Now they must be in the $25k range + or -. I said the same thing, and will say the same when there $50k
<< <i>I wonder how come the "wrong forum" brothers ain't jumpin' in right about now. >>
No problem!
there is a precious metals forum
and here is a list of all the forums
I'm Soooooo helpful!
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>Looks like they are selling plat. and pallad. to buy silver.... >>
How'd you know? I sold my PCGS 2010-W PR70DCAM $100 Plat proof last week for $2400 and bought 60ozs of silver at $40. Guilty as charged.
Silver & Gold Prices
<< <i>hrh,
Don't feel bad, I think this huge move up in silver from the mid teens to the mid 40's recently caught a lot of people off guard. It seems like only yesterday I was buying Johnson Matthey 10 oz. bars at $140 - $160. each. I guess the real question is.....should we be buying here in the mid 40's? >>
IMO the answer is YES.
I too purchased many JM and Engelhard bars around $160. Buying 10 oz bars for $270 last December seemed risky but that time can now be fondly recalled as "the good old days".
As long as my cash flow holds up I'll keep adding at $43, $50, $60 and above.
$43+ silver is bringing many rare and unusual bars out of hiding. I hope to pick up my share of the scarce Engelhards.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Box of 20
Hoard the keys.
<< <i>Silver up almost a buck...again
>>
Another day, another dollar sure doesn't mean what it used to mean.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
There will be some thunderous shakes out still to come. Remember the 60% correction in 2008?
Imagine if we were still using the same CPI formula used back in 1980 (and posthumously retired in 1983).
roadrunner
<< <i>$44 is still a long ways from the $140/oz 1980 inflation adjusted high. And that's using the bogus CPI-U from the BLS.
There will be some thunderous shakes out still to come. Remember the 60% correction in 2008?
Imagine if we were still using the same CPI formula used back in 1980 (and posthumously retired in 1983).
>>
I think $50 in 1979 was underpriced and there's a lot less silver in the world than there was then.
<< <i>
<< <i>$44 is still a long ways from the $140/oz 1980 inflation adjusted high. And that's using the bogus CPI-U from the BLS.
There will be some thunderous shakes out still to come. Remember the 60% correction in 2008?
Imagine if we were still using the same CPI formula used back in 1980 (and posthumously retired in 1983).
>>
I think $50 in 1979 was underpriced and there's a lot less silver in the world than there was then. >>
I've thought that without the Hunts' influence in 1979 that silver probably only would have peaked out around $32 rather than going straight up to $50
in those last few days/weeks. That would leave us with a GSR of around 25 rather than often-quoted 17. But who can really say? We may not have
the Hunts with us today but there are other forces just as compelling now at work (world wide demand, internet, Asian afluence, ETFs, derivatives, shortages, etc.)
roadrunner
<< <i>I think $50 in 1979 was underpriced and there's a lot less silver in the world than there was then. >>
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>I'm even smarter than Hall. I sold my hoard of 70 1964 JFK rolls when silver was $4 an ounce.
Russ, NCNE >>
yes you are, and you sell 'glass' to pass the time.
<< <i>
<< <i>I think $50 in 1979 was underpriced and there's a lot less silver in the world than there was then. >>
Good luck with digging all that silver out of the 6,000+ or so landfills that are scattered across the USA. That doesn't factor in the tens of thousands of landfills around the world or the ones that have been closed long ago and grown over. It's hard enough to reclaim the bio gasses and leachate from landfills. Trying to screen out silver would be quite interesting. There are landfills now being reopened to reprocess old waste that hasn't decomposed. Screening out ferrous and collecting it is pretty simple. But pulling out the silver from the non-ferrous would be quite difficult.
roadrunner
the old lady was with me and she never seen me shuck out that many hundred $ bills before,
she did'nt say it, but I know she thought I was crazy, in February, she still did'nt say anything
but I sure got the vibe's, but in a positive sense, well kinda, she's it's all good today.
I have picked up stuff in 90% & 40% that I normally would'nt have recently because l'm getting
it just over melt, as my logic is why not ?, somebody has to save it.
Steve
Go BIG or GO HOME. ©Bill
At this pace.....WOW!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>The bigger the bubble, the bigger the pop!!! >>
Said the man with a bottle of soda pop for his avatar!!!!
There's also no shame in taking some money off the table, boys and girls.
Bubble or not, only trees grow straight to the sky.
We just went though the same thing with gold 4 years or so ago when it reached $850 it's all time peak. Now it's almost twice that of 79/80 and silver hasn't even reached it's all time high. I say it's about time it starts to churn, I'm not worried about it until it reaches north of 100 bucks. Hopefully there's a lot of good dips along the way.
All those common unloved $20/$10 gold pieces in AU to MS62 sure have increased in value. This keeps up and it's time to sell and wait until all this mess gets straighten out. It won't take much more bad news to really get this going; Japan has a problem at best until the end of the year, the middle-east well that's going to be long term too, and just wait until fall and those prices start rising since it's future lag is about to start kicking in. I just don't see anything good, BTW a roll of 2011 ASE's sold for $1115 which is just about $56 a coin. Keep in mind the paper game isn't the same as the physical game with real silver.
And, unfortunately, I speak from some experience in getting burned in the past.
Just remember, interest rates at 0% will only be going in one direction.
Dave
Please elaborate - is your point that after approx. 1964 silver was demonitized (by government actions) and now it is being remonitized (by the private market)? If silver is really being remonitized, the historic gold/silver ratios begin to make sense again.
<< <i>I'm just saying...don't get carried away.
And, unfortunately, I speak from some experience in getting burned in the past.
Just remember, interest rates at 0% will only be going in one direction. >>
No doubt. You don't go all in and play this on the dips. If you have a chuck your going to invest then split it up in 3 or 4 units and buy over several months.
A few things to keep in mind IMO:
1. PM's did very well at all time interest rates back in 79/80.
2. There's no Hunt brothers this time. This is a global run with governments, Central Banks, and people globally purchasing product.
3. There's 10 times more paper gold/silver than there is product.
4. All fiat currencies are in big trouble. The best world be the Swiss, Canada, Australia, and Brazil. The dollar is going to drop hard in the next year IMO.
5. Dow tend to equal gold in these runs. The Dow's not going anywhere fast with gold closing or it's going to dump and gold rises if that trend from the past continues.
6. Inflation is about to hit big in the US this year with the dollar dropping.