<< <i>Still beat hell outta tech stocks the last 10 years. >>
The more important question is the next ten years, not the previous ten. When I was replying to almost every coin investment question on the U.S. Coin Forum with "buy silver coins at or near melt value," and silver was low, I had little company. Now that silver is up 800% off the lows, I have lots of company. I no longer reply that way, because the risk is way higher. Silver may well go much higher, but it is not a ground floor opportunity any more.
32 is a good price IMO ... figure most of us have some premium involved on most purchases, and for those of us still stacking, we're still buying at about 33 and change
Here's how I look at it over the last 8 months (after the wash out) ... let's say I have an extra $100 FRN
If I can buy three oz, I fell like it's a good insurance/savings plan
If I can buy four oz, it feels like a gift (any more than four and I might have to find a few more $100 bills for the opportunity)
If I can only buy two oz, I would get a little squeamish, even though that price may be a distant memory in a few years
Pretty simple process that has been in my mind for a while ... and frankly, the low 30's feel pretty good for now
Certainly I would like to see the upper 30's again sometime over the coming months, and I suspect I will
Oh, and to answer you question in post 400 Baley, I suspect we will take out 50., at least once, in the next 15 months
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
I'm a buyer at these prices levels. But I wasn't when it was over 40.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
<< <i>So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago? >>
Last year my wife inherited 5,000 shares of Apple and 5,000 shares of Priceline from her grandparents. Both of these stocks were purchased in late 2001. The real treat was the 3,500 acres of irrigated farm land that she received as well. They are now drilling for oil and natural gas on this land as we speak.
My wife and I still work because we want to not because we have to.
<< <i>So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago? >>
Last year my wife inherited 5,000 shares of Apple and 5,000 shares of Priceline from her grandparents. Both of these stocks were purchased in late 2001. The real treat was the 3,500 acres of irrigated farm land that she received as well. They are now drilling for oil and natural gas on this land as we speak.
My wife and I still work because we want to not because we have to. >>
Be sure to adjust the cost basis on the inheritance at its market price at time of inheritance instead of its original purchase price. Will mean a big difference (and less taxable profit) when you sell.
<< <i>Be sure to adjust the cost basis on the inheritance at its market price at time of inheritance instead of its original purchase price. Will mean a big difference (and less taxable profit) when you sell. >>
Got it covered as I am a CPA by day. Thanks for the heads up though.
Lower highs and lower lows? The next cycle down (read: "buying opportunity") should take spot down to $27 over the next few weeks. After that, it will have trouble breaking $30 again. it's already summer in the Midwest
<< <i>Lower highs and lower lows? The next cycle down (read: "buying opportunity") should take spot down to $27 over the next few weeks. After that, it will have trouble breaking $30 again. it's already summer in the Midwest >>
<< <i>So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago? >>
Last year my wife inherited 5,000 shares of Apple and 5,000 shares of Priceline from her grandparents. Both of these stocks were purchased in late 2001. The real treat was the 3,500 acres of irrigated farm land that she received as well. They are now drilling for oil and natural gas on this land as we speak.
My wife and I still work because we want to not because we have to. >>
<<NOT a very good store of value or purchasing power for the metal I've held since then. >>
In time Baley, in time, look at it as a buying opp. Still have my first 1 oz. AGE, bought for $280, around the first of April 2001. Also bought 10 oz. Engelhard bars for $47, around the same time I believe Gold was $260 and silver was at $4.30. No one knows with any clarity what 10 yrs. from now will be like.
<<NOT a very good store of value or purchasing power for the metal I've held since then.>>
Baley, did you buy silver at $49.82? If you're itchin' to sell at breakeven, don't worry - you'll get your chance. If you're going to buy silver or gold as a store of value, I assume you know that your time horizon isn't a year or less.
The bags of 90% Halves I bought in '98 and '99 still look pretty good. The green monster box I bought in '03 is looking good. The silver I bought off ebay a few years ago at $12.00/oz. looks good. Even the green monster box I bought "at the peak" in '08 at $21.00+/oz. looks good. The silver pucks I bought last year when silver was around $35.00 still look like silver pucks to me.
I wouldn't continue to buy precious metals if I didn't have confidence in knowing the longterm trend, in addition to knowing why the trend is the way it is. Nothing has changed. Precious metals are a store of value in uncertain economic times, and they are also good insurance against a currency default via inflation - which is what I believe to be the most likely scenario.
$49.82 is just a number.
Q: Are You Printing Money? Bernanke: Not Literally
Watched a lot of C-span this morning. Less than expected employment data Those drawing unemployment was slightly down. Adding; which means the Feds got it wrong, that monetary easing will be needed afterall. India jewelers ended strike and compromizing with their gov. An attack on Iran nuclear facilities is eminent.
Anyone having visions of higher PM's Monday? or is it Tuesday?
The more qualities observed in a coin, the more desirable that coin becomes!
<< <i><<NOT a very good store of value or purchasing power for the metal I've held since then. >>
In time Baley, in time, look at it as a buying opp. Still have my first 1 oz. AGE, bought for $280, around the first of April 2001. Also bought 10 oz. Engelhard bars for $47, around the same time I believe Gold was $260 and silver was at $4.30. No one knows with any clarity what 10 yrs. from now will be like. >>
This is true. We don't know what the next 10 years will bring. I bought 200 oz of silver in 1987 for $7/oz. Sold in 1998, or there abouts, for $5 something. Wasn't a very good store of value for me.
Stores (of value) change with major economic cycles. Figure out the Cycle, then find the Store. Like a pendulum, the weightless part is the most unsettling. Next cycle, when the Dow and POG are near equal(?) "Near equal" is the weightless part.
<< <i><<NOT a very good store of value or purchasing power for the metal I've held since then.>>
Baley, did you buy silver at $49.82? ..................$49.82 is just a number. >>
No, I didn't buy right at the near-$50 peak in 2011 (or 1979 either, for that matter) but did pay as much as $38/oz because I got a little caught up in the "$75 by summer" hype
If you're itchin' to sell at breakeven, don't worry - you'll get your chance. If you're going to buy silver or gold as a store of value, I assume you know that your time horizon isn't a year or less
No, my horizon is long, I'm not itchin' . . .
$49.82 is just a number
Yeah, just a number about 58% higher than the current price
Baley, I'd like to give it a shot in answering your question. Here's what I think - the debt load is getting harder to roll over, and there is a currency war going on. I see continued worldwide money creation and continued dollar devaluation in relation to precious metals.
They continue to change the rules whenever possible - i.e., the new proposal to eliminate any need for the debt ceiling. I can only assume that they've thought of the next step, if they ever did succeed in eliminating the debt ceiling. Regardless, I can't imagine any money manager being fooled by this idiocy, so my take is that precious metals will continue a managed rise over the next few years, in response to a continued debt rollover problem that only gets worse and worse.
Silver will top $50/oz in less than 2 years, maybe sooner. That's not even a spike, just a managed rise. The spike is coming too, I do think so.
Q: Are You Printing Money? Bernanke: Not Literally
I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
<< <i>I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
I suspect it was leased, without the knowledge of others who also hold a lease. No new silver, just the same silver over and over again - many times at once. If that much silver had been purchased on the market we would see it in price.
<< <i>I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
Dno, maybe the custodian of SLV (I believe JPM) made a nice journal entry in exchange for those shares (in kind). Now they can sell those shares on the market, forcing price down?
<< <i>I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
Dno, maybe the custodian of SLV (I believe JPM) made a nice journal entry in exchange for those shares (in kind). Now they can sell those shares on the market, forcing price down? >>
The lack of substantial price movement indicates they weren't new ounces. The spike we are seeing is a result of those that do think there were new ounces. As they become smarter price will decline. Or, a trap is being set. The fact that dollar index movement (decline) does not support such a spike tells me it is temporary.
Comments
<< <i>That's right. $33 is a very good price for an ounce of silver.
The big question, WHEN will it take out $49.82? Any predictions? >>
2013?
BSTs with: Coll3ctor, gsa1fan, mkman123, ajbauman, tydye, piecesofme, pursuitofliberty
Travelog - 20in20travels.com
<< <i>Still beat hell outta tech stocks the last 10 years. >>
The more important question is the next ten years, not the previous ten. When I was replying to almost every coin investment question on the U.S. Coin Forum with "buy silver coins at or near melt value," and silver was low, I had little company. Now that silver is up 800% off the lows, I have lots of company. I no longer reply that way, because the risk is way higher. Silver may well go much higher, but it is not a ground floor opportunity any more.
<< <i>but it is not a ground floor opportunity any more.
>>
That's why I stopped buying at 13
Liberty: Parent of Science & Industry
Here's how I look at it over the last 8 months (after the wash out) ... let's say I have an extra $100 FRN
If I can buy three oz, I fell like it's a good insurance/savings plan
If I can buy four oz, it feels like a gift (any more than four and I might have to find a few more $100 bills for the opportunity)
If I can only buy two oz, I would get a little squeamish, even though that price may be a distant memory in a few years
Pretty simple process that has been in my mind for a while ... and frankly, the low 30's feel pretty good for now
Certainly I would like to see the upper 30's again sometime over the coming months, and I suspect I will
Oh, and to answer you question in post 400 Baley, I suspect we will take out 50., at least once, in the next 15 months
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
<< <i>
<< <i>but it is not a ground floor opportunity any more.
>>
That's why I stopped buying at 13 >>
But it is still an opportunity. I bought more at 14, never regretted it. I'm buying at 32.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
In the year 2015, silver hits a high of $145 an ounce and then in one week crashes to $85.
Baley posts..."silver stuck at $85"
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>Still beat hell outta tech stocks the last 10 years. >>
My favorite tech stock beat the hell out of metals the last 10 years by orders of magnitude
<< <i>
<< <i>Still beat hell outta tech stocks the last 10 years. >>
My favorite tech stock beat the hell out of metals the last 10 years by orders of magnitude
.... Can you say Apple?
<< <i>.... Can you say Apple? >>
OK, I'll bite... What's the next Apple that I should buy in lieu of metals?
<< <i>
<< <i>.... Can you say Apple? >>
OK, I'll bite... What's the next Apple that I should buy in lieu of metals? >>
Microsoft ...
<< <i>
<< <i>Still beat hell outta tech stocks the last 10 years. >>
My favorite tech stock beat the hell out of metals the last 10 years by orders of magnitude
So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago?
Liberty: Parent of Science & Industry
<< <i>$33 >>
sell Mortimer, sell.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
<< <i>
<< <i>$33 >>
sell Mortimer, sell.
You still long ZSL?
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>$33 >>
sell Mortimer, sell.
You still long ZSL? >>
cash, looking for temp. silver bottom. I try not to stay in a leveraged ETF more than a couple of days.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Even a few days can be way too long!
Needs watching like a hawk!
<< <i>"I try not to stay in a leveraged ETF more than a couple of days."
Even a few days can be way too long!
Needs watching like a hawk! >>
roger dat!
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
<< <i>So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago? >>
Last year my wife inherited 5,000 shares of Apple and 5,000 shares of Priceline from her grandparents. Both of these stocks were purchased in late 2001. The real treat was the 3,500 acres of irrigated farm land that she received as well. They are now drilling for oil and natural gas on this land as we speak.
My wife and I still work because we want to not because we have to.
Liberty: Parent of Science & Industry
<< <i>Nice! How'd you like to adopt a barely housetrained 44 year old? >>
That might be little odd with my wife and I only in our late 20's! HAHA
<< <i>
<< <i>Nice! How'd you like to adopt a barely housetrained 44 year old? >>
That might be little odd with my wife and I only in our late 20's! HAHA >>
Wow!! Enjoy your lives and do good.
Knowledge is the enemy of fear
<< <i>
<< <i>So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago? >>
Last year my wife inherited 5,000 shares of Apple and 5,000 shares of Priceline from her grandparents. Both of these stocks were purchased in late 2001. The real treat was the 3,500 acres of irrigated farm land that she received as well. They are now drilling for oil and natural gas on this land as we speak.
My wife and I still work because we want to not because we have to. >>
Be sure to adjust the cost basis on the inheritance at its market price at time of inheritance instead of its original purchase price. Will mean a big difference (and less taxable profit) when you sell.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
<< <i>Be sure to adjust the cost basis on the inheritance at its market price at time of inheritance instead of its original purchase price. Will mean a big difference (and less taxable profit) when you sell. >>
Got it covered as I am a CPA by day. Thanks for the heads up though.
it's already summer in the Midwest
Liberty: Parent of Science & Industry
<< <i>Lower highs and lower lows? The next cycle down (read: "buying opportunity") should take spot down to $27 over the next few weeks. After that, it will have trouble breaking $30 again.
it's already summer in the Midwest
----------------------------------------------------
April Fools
<< <i>
<< <i>So, how many shares have you held for 10 years or are you just looking at a chart and wishing you had bought it at $10.53 10 years ago? >>
Last year my wife inherited 5,000 shares of Apple and 5,000 shares of Priceline from her grandparents. Both of these stocks were purchased in late 2001. The real treat was the 3,500 acres of irrigated farm land that she received as well. They are now drilling for oil and natural gas on this land as we speak.
My wife and I still work because we want to not because we have to. >>
You work because you want to? Why?
Silver $31 and change, down from $49.82.
NOT a very good store of value or purchasing power for the metal I've held since then.
Liberty: Parent of Science & Industry
In time Baley, in time, look at it as a buying opp.
Still have my first 1 oz. AGE, bought for $280, around the first of April 2001.
Also bought 10 oz. Engelhard bars for $47, around the same time
I believe Gold was $260 and silver was at $4.30.
No one knows with any clarity what 10 yrs. from now will be like.
Baley, did you buy silver at $49.82? If you're itchin' to sell at breakeven, don't worry - you'll get your chance. If you're going to buy silver or gold as a store of value, I assume you know that your time horizon isn't a year or less.
The bags of 90% Halves I bought in '98 and '99 still look pretty good. The green monster box I bought in '03 is looking good. The silver I bought off ebay a few years ago at $12.00/oz. looks good. Even the green monster box I bought "at the peak" in '08 at $21.00+/oz. looks good. The silver pucks I bought last year when silver was around $35.00 still look like silver pucks to me.
I wouldn't continue to buy precious metals if I didn't have confidence in knowing the longterm trend, in addition to knowing why the trend is the way it is. Nothing has changed. Precious metals are a store of value in uncertain economic times, and they are also good insurance against a currency default via inflation - which is what I believe to be the most likely scenario.
$49.82 is just a number.
I knew it would happen.
<< <i>Some people like their work. I'm among them.
Silver $31 and change, down from $49.82.
NOT a very good store of value or purchasing power for the metal I've held since then. >>
Gold is your store of value. Silver is your trading money maker.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Less than expected employment data
Those drawing unemployment was slightly down.
Adding; which means the Feds got it wrong, that monetary easing will be needed afterall.
India jewelers ended strike and compromizing with their gov.
An attack on Iran nuclear facilities is eminent.
Anyone having visions of higher PM's Monday? or is it Tuesday?
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i><<NOT a very good store of value or purchasing power for the metal I've held since then. >>
In time Baley, in time, look at it as a buying opp.
Still have my first 1 oz. AGE, bought for $280, around the first of April 2001.
Also bought 10 oz. Engelhard bars for $47, around the same time
I believe Gold was $260 and silver was at $4.30.
No one knows with any clarity what 10 yrs. from now will be like. >>
This is true. We don't know what the next 10 years will bring. I bought 200 oz of silver in 1987 for $7/oz. Sold in 1998, or there abouts, for $5 something. Wasn't a very good store of value for me.
Knowledge is the enemy of fear
I knew it would happen.
<< <i><<NOT a very good store of value or purchasing power for the metal I've held since then.>>
Baley, did you buy silver at $49.82? ..................$49.82 is just a number. >>
No, I didn't buy right at the near-$50 peak in 2011 (or 1979 either, for that matter) but did pay as much as $38/oz because I got a little caught up in the "$75 by summer" hype
If you're itchin' to sell at breakeven, don't worry - you'll get your chance. If you're going to buy silver or gold as a store of value, I assume you know that your time horizon isn't a year or less
No, my horizon is long, I'm not itchin' . . .
$49.82 is just a number
Yeah, just a number about 58% higher than the current price
Liberty: Parent of Science & Industry
<< <i>cohodk, do you remember why you bought that 200 oz. at the time? I didn't remember silver spiking in '87.
If I remember correctly I bought it sometime in the summer, maybe August. This turned out to be my first lesson in "buy the dip". UGH!!
Knowledge is the enemy of fear
Liberty: Parent of Science & Industry
ah, but when when will it make a new all time high?
next year, or next generation? what do you think?
Liberty: Parent of Science & Industry
They continue to change the rules whenever possible - i.e., the new proposal to eliminate any need for the debt ceiling. I can only assume that they've thought of the next step, if they ever did succeed in eliminating the debt ceiling. Regardless, I can't imagine any money manager being fooled by this idiocy, so my take is that precious metals will continue a managed rise over the next few years, in response to a continued debt rollover problem that only gets worse and worse.
Silver will top $50/oz in less than 2 years, maybe sooner. That's not even a spike, just a managed rise. The spike is coming too, I do think so.
I knew it would happen.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
19,000,000 new SLV shares
I knew it would happen.
<< <i>I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
19,000,000 new SLV shares >>
I suspect it was leased, without the knowledge of others who also hold a lease. No new silver, just the same silver over and over again - many times at once. If that much silver had been purchased on the market we would see it in price.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
<< <i>I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
19,000,000 new SLV shares >>
Dno, maybe the custodian of SLV (I believe JPM) made a nice journal entry in exchange for those shares (in kind). Now they can sell those shares on the market, forcing price down?
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
<< <i>
<< <i>I still don't understand this. The market didn't move to reflect these new ounces. I don't understand what "in kind basket creation" is, or how it would avoid the need to buy 19,000,000 ounces on the open market. Interesting times, indeed. Any guesses about what's going on?
19,000,000 new SLV shares >>
Dno, maybe the custodian of SLV (I believe JPM) made a nice journal entry in exchange for those shares (in kind). Now they can sell those shares on the market, forcing price down? >>
The lack of substantial price movement indicates they weren't new ounces. The spike we are seeing is a result of those that do think there were new ounces. As they become smarter price will decline. Or, a trap is being set. The fact that dollar index movement (decline) does not support such a spike tells me it is temporary.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.