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Just Noticed, Silver Closed Today Below $14!
Analyst
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Although I am a rare coin expert, and my knowledge of bullion is limited, I am surprised by the current fall of silver bullion to below $14 per ounce, shortly after severe terrorist attacks in Paris. In April or May 2011, silver reached around $48 an ounce, if I remember correctly. Do members of this forum wish to comment on this matter? Am I the only one who is surprised?
"In order to understand the scarce coins that you own or see, you must learn about coins that you cannot afford." -Me
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bulliondirect.com has it closing at $14.19 Which site do you cite?
Kitco's at $14.19 as well. The OP is likely a day or week early. It sure looks like $13 is coming this winter.
bulliondirect.com has it closing at $14.19 Which site do you cite?
Kitco's at $14.19 as well. The OP is likely a day or week early. It sure looks like $13 is coming this winter.
I didn't see any place where it closed below $14. Did it even dip that low?
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I don't show it under 14, but no, I'm not surprised. Bubbles often result in 70+% corrections. I think some even postulated that probability a few years ago.
Knowledge is the enemy of fear
I remain focused on only buying collectable silver bars.
Loves me some shiny!
Worry is the interest you pay on a debt you may not owe.
I think we are near a low point so I'm buying as funds become available and good deals come along. I just bought ten sealed RMC 10 oz bars at $0.59 over spot on eBay from Bullion Exchanges.
Different strokes. I don't see the rational buying "generic" metal right now for reasons that would make this thread go OT, and I know better to do that
Ultimately, buy/collect/hoard/stack whatever you have a passion for. It's yours, so you might as well like what you have and do what makes you happy.
People on this Forum have been so wrong on so many things, myself included, that I've decided to focus on what I like collecting. If I pay too much, so what, I don't really care any more because I'm putting away and admiring what I do have rather than what I wish I could've kept or had.
To be fair, some on this Forum have been, let's say, more right than wrong, so kudos to them. They know who they are, just ask 'em, they'll tell you LOL.
$10 oz silver is coming by May '16.
I remain focused on only buying collectable silver bars.
Sounds good to me. Those and numismatic coins have been more fun of late.
I watched it as it happened. It being silver dropped about 30 cents around 5pm, but then bounced right back by the time the market closed around 5:15pm. That was
CW should post the time of their price quotes like PCGS does.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Perhaps because I have not been paying close enough attention, or maybe I am just a PM idiot. But I honestly truly thought Spot would have started rising by now. Feels like it has been a slow, steady decline for the past 30 months (yes, I said thirty). No I'm not looking at a chart now, just going on memory. Stacked some silver bars and rounds when our son was born 2.5 years ago and thought it was a good solid investment. Now I'm beginning to wonder.
If it's still around $14/oz or so (under 15) by Monday then I may stack some more. I don't have unlimited stacking funds like some folks around here.
Amat Colligendo Focum
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lower = many more ounces for the stack than if higher
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I still have an article window up from Coin Week a couple days ago showing $13.99 across the top, but I did not then see it had reached that on Kitco. Todays Kitco low so far does show it had gone even lower at $13.84.
Not really surprised as low as prices have been bouncing around at lately.
Maybe I should put faith in the promotions and rumors I recall from back around 1987 or so that silver was soon going to $150 an ounce (nothing really happened). Listening to recent radio and TV ads, it looks like some things never change.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
I still have an article window up from Coin Week a couple days ago showing $13.99 across the top, but I did not then see it had reached that on Kitco. Todays Kitco low so far does show it had gone even lower at $13.84.
Not really surprised as low as prices have been bouncing around at lately.
Maybe I should put faith in the promotions and rumors I recall from back around 1987 or so that silver was soon going to $150 an ounce (nothing really happened). Listening to recent radio and TV ads, it looks like some things never change.
Put faith in common sense and historical results of current factors.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Hope we live long enough. Can't sell my "hope" and "faith" for a profit.
Liberty: Parent of Science & Industry
Yeah, we precious metals investors haven't been wrong, we just haven't been right, yet
Hope we live long enough. Can't sell my "hope" and "faith" for a profit.
Aren't you glad you didn't dump your house at the bottom?
Keep an open mind, or get financially repressed -Zoltan Pozsar
Yeah, we precious metals investors haven't been wrong, we just haven't been right, yet
Hope we live long enough. Can't sell my "hope" and "faith" for a profit.
Some people can. Send enough money and you can get on the prayer list to see $150 silver and $3,000 gold (batteries sold separately).
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
Yeah, we precious metals investors haven't been wrong, we just haven't been right, yet
Hope we live long enough. Can't sell my "hope" and "faith" for a profit.
Some people can. Send enough money and you can get on the prayer list to see $150 silver and $3,000 gold (batteries sold separately).
Reminds me of what PTL once stood for.
Pay The Lady!
I started this thread on a Friday night, Nov. 20, 2015. On CoinWeek.com, the $13.99 price was posted for at least 36 hours, maybe for a significantly longer period? I was not carefully monitoring levels and related postings. I would imagine that different exchanges around the world post varying bids and asks during the same time period. If any of the members of this forum would like to list the major exchanges and discuss to what extent precious metals levels vary among them during the same time period, I doubt that I am the only one who would be interested.
WinLoseWin: "Not really surprised as low as prices have been bouncing around at lately."
The trend has been downward for some time. The current posting for silver on CoinWeek is $14.07, on Nov. 29, at 7:48 PM Eastern Time. The level reported at kitco.com is lower, $14.03.
During the last week, Turkey shot down a Russian Air Force plane.
WinLoseWin: "Maybe I should put faith in the promotions and rumors I recall from back around 1987 or so that silver was soon going to $150 an ounce (nothing really happened). Listening to recent radio and TV ads, it looks like some things never change
Again, I am a rare coin expert, not a bullion expert. Even so, I mention that silver was near $50 in ounce in early 1980. Did WinLose really mean to say "1987"? According to kitco.com, the "London Fix" never reached US $9.45 in 1987. A year-long "high" of $9.443 was reached in May 1987.
As I said in the top post, silver reached around $48 in 2011. It is curious that it would be around $14, shortly after terrorist attacks in Paris and the shooting of a Russian plane by the Turks.
insightful10@gmail.com
Why Are 1943 Copper and 1944 Steel Lincoln Cent Errors So Valuable?
Maybe it never should have been there.
I don't think I can recall any *****et cl***** sustaining a 10 fold increase in price in a short time period.
Can you?
Knowledge is the enemy of fear
Knowledge is the enemy of fear
PiecesOfMe:
Just so that there is no mis-understanding, I wish to state that I am not recommending for or against the purchase of silver bullion. I am not taking a position on this matter. I started this thread because I was surprised that silver would recently fall below $14 per ounce. I was curious about the thoughts of forum members regarding this topic.
PiecesOfMe:
I have a passion for rare coins and I hope to share that passion in my writings. I often write about collecting pursuits. Many of the people who read my articles are pure collectors.
Understanding Classic U.S. Coins and Building Excellent Coin Collections, Part 2: Dipped Coins
Classic U.S. coins for less than $250 each, Part 2 – Half Dollars & Silver Dollars
WinLoseWin: "I still have an article window up from Coin Week a couple days ago showing $13.99 across the top, but I did not then see it had reached that on Kitco. Today's Kitco low so far does show it had gone even lower at $13.84."
Today, Dec. 2, 2015, at 5:40 PM Eastern Time, I checked silver quotes on both CoinWeek, $14.02, and Kitco, $13.97. I continue to be surprised.
cohodk: "You as-sume silver should have sustained a $48 price? Maybe it never should have been there. I don't think I can recall any as-set group sustaining a 10 fold increase in price in a short time period. Can you?"
I made no such assumption. I never said that the $48 level was sustainable and I never said that it was unsustainable. My point was much more limited. Since early October 2014, I casually noted the price of silver, from time to time, not every day. It has generally fluctuated between $14 and $16. Shortly earlier, in Sept. 2014, it was above $18!
Recently, there was a severe and shocking terrorist attack in Paris. Further, Turkey shot down a Russian military airplane. The situation in Syria seems to be worsening. These are the kinds of variables that tend to be associated with increases in precious metals prices. Yet, in the current geopolitical atmosphere, the price of silver has been trending downward or drifting, lower than it was when the geopolitical situation was relatively better. I was thus surprised. Of course, there are factors to take into consideration, like the recent strengthening of the U.S. Dollar. I am not making any recommendations or predictions. I am a rare coin expert, not a precious metals trader.
The Pogue Family Coin Collection, Part 10 – Gem Capped Bust Half Dollars
Well, obviously not. Why peopLe connect these events is interesting, especially as it is usually proven otherwise time and time again.
Knowledge is the enemy of fear
Recently, there was a severe and shocking terrorist attack in Paris. Further, Turkey shot down a Russian military airplane. The situation in Syria seems to be worsening. These are the kinds of variables that tend to be associated with increases in precious metals prices.
Well, obviously not. Why peopLe connect these events is interesting, especially as it is usually proven otherwise time and time again.
until these events either drive up oil or drive down the dollar index PM prices will not be affected by them.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Had some buyers in the shop today for Eagles, Rounds, bars and 90%. Made mention that "no matter the price of silver, the margins remain razor thin"
Plop. Those margins sure seemed a lot thicker on the way up!
Had some buyers in the shop today for Eagles, Rounds, bars and 90%. Made mention that "no matter the price of silver, the margins remain razor thin"
Plop. Those margins sure seemed a lot thicker on the way up!
Actually, the weight remains the same, but there's a lot longer wait with a higher premium, as it were.
I said above: Recently, there was a severe and shocking terrorist attack in Paris. Further, Turkey shot down a Russian military airplane. The situation in Syria seems to be worsening. These are the kinds of variables that tend to be associated with increases in precious metals prices. Yet, in the current geopolitical atmosphere, the price of silver has been trending downward or drifting, lower than it was when the geopolitical situation was relatively better. I was thus surprised. Of course, there are factors to take into consideration, like the recent strengthening of the U.S. Dollar. I am not making any recommendations or predictions. I am a rare coin expert, not a precious metals trader.
Rejoinder by Cohodk:
The matter is not that simple. Geopolitical crises and related uncertainties do have an upward effect on precious metal prices. There are other forces that have a downward effect. Precious metals prices are higher now than they otherwise would have been had the terrorist attack in Paris not occurred. They were trending downward, anyhow.
Tinbox:
Perhaps there was a slight delay. As of 7:50 PM Eastern Time,on Dec. 5, the quotes on CoinWeek.com are as follows: Gold 1,086.98 +32.98; Silver 14.55 +0.43. The quote on Kitco.com for silver is exactly the same, and the gold quote on Kitco is very close to the quote listed on CoinWeek. When I posted here on Dec. 2, 2015, at 5:40 PM Eastern Time, I checked silver quotes on both CoinWeek, $14.02, and Kitco, $13.97. Gold was then at 1,053.55.
The Proper Value of Generic Gold Coins
insightful10@gmail.com
Sooner or later, silver will take off again.
Keep stackin'.
Sooner or later, silver will take off again.
These current prices, and even drops, don't phase me. I don't plan cashing in within the next 20-25 years. Just buy gold and silver, each pay day, repeat.
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#1 1951 Bowman Los Angeles Rams Team Set
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Ultimately, buy/collect/hoard/stack whatever you have a passion for. It's yours, so you might as well like what you have and do what makes you happy.
People on this Forum have been so wrong on so many things, myself included, that I've decided to focus on what I like collecting. If I pay too much, so what, I don't really care any more because I'm putting away and admiring what I do have rather than what I wish I could've kept or had.
To be fair, some on this Forum have been, let's say, more right than wrong, so kudos to them. They know who they are, just ask 'em, they'll tell you LOL.
POM, this is the best post you've ever made, imho.
To the OP's point, we are all a product of our environment and have all had varied experience. Therefore, our expectations of the markets will hinge on past events that may or may not be relevant to other market participants.
I remember that the price rise in 1980 was presaged by a general rise in the level of concern over the economy and international events. In 2011, I detected no comparable angst.
However, lately it does seem as if the level of concern is rising. And I think there are reasons that it should.
I knew it would happen.
Keep stackin'.
Sooner or later, silver will take off again.
These current prices, and even drops, don't phase me. I don't plan cashing in within the next 20-25 years. Just buy gold and silver, each pay day, repeat.
These lower prices should please you if you are planning to hold for a few years or more. Perfect opportunity to add to your stack while prices are still low. As long as the national debt keeps ballooning and the government keeps recklessly borrowing and spending, PM's will have a bright future.
Worry is the interest you pay on a debt you may not owe.
jmski52:
Since the devastating 2008-09 recession, and the super-expensive "stimulus program," both the aggregate federal gov't debt and the price of gold were trending sharply upward for a long time. The "angst" was about the giant federal debt, which seemed then to be a crisis that was not resolvable in a safe manner. I am puzzled now that so many politicians and citizens are casual about it. We cannot just ignore an $18 trillion debt!
jmski52:
Throughout the history of human civilization, there have been both sociological and logical reasons as to why people have turned to gold and silver during times of uncertainty and looming political crises, especially after periods of political violence. A government or society in crisis is far more likely to lead to a devaluation of currency, through hyper-inflation or other means, than will a stable society during a calm time. Government issued currencies may be harmed by warfare and terrorism as well. To some extent here, we are talking about logic and facts, rather than just opinions and personal interpretations of society or history. I agree with JmsKi52, though, if he is implying that changes in technology, social norms and geopolitical relations may lead to gold & silver having different roles in the future than they did in the past.
The Proper Value of Generic Gold Coins
Classic U.S. Coins less than $500 each, Part 13 – Indian Head Quarter Eagles
(link fixed)
Keep an open mind, or get financially repressed -Zoltan Pozsar
Nice filtering system on this board. Why was there a change in software?
FWIW, I have not had one of those cloudflare messages since the new software was put into service.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
Knowledge is the enemy of fear
How do you make paragraphs on this improved board?
with common sense.
Keep an open mind, or get financially repressed -Zoltan Pozsar
How do you make paragraphs on this improved board?
with common sense.
Ah yes, just write short simple sentences to pander to ones audience. Thanks for the tip.
Knowledge is the enemy of fear
How do you make paragraphs on this improved board?
with common sense.
Ah yes, just write short simple sentences to pander to ones audience. Thanks for the tip.
took it from your playbook.
Keep an open mind, or get financially repressed -Zoltan Pozsar
DeepCoin:
As of 9:45 PM ET, silver is listed at $14.10 on CoinWeek, up
Kitco.com reports that silver closed at $14.08 yesterday at 6:59 PM ET.
Silver hovered around $16 during much of October and started November at around $15.40. The slide since then is curious. Do any members wish to provide an explanation?
There is little downside risk for those who collect PCGS graded, 19th century silver coins, besides Morgans, for less than $100 each. I am not recommending these as an investment. I am thinking of a relevant low-cost hobby pursuit, with minimal risk.
Classic U.S. silver coins for less than $100 each: 19th Century Types from Three Cent Silvers to Half Dollars
How do you make paragraphs on this improved board?
The privileged among us just hit the enter key.
It may possibly be a browser setting. Which browser do you normally connect to PCGS with?
I have no trouble with Chrome, IE or FlakyFox.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
How do you make paragraphs on this improved board?
For those of us who have to manually enter a command for a line break you do it by typing the letters BR between the lesser than sign and the greater than sign to start a new text line. Immediately do it again to add a space between the last text line and the new text line.
When hitting the ENTER key does not result in starting a new line of text in your post, typing the lesser than sign, the letters BR and the greater than sign followed by hitting ENTER will make your post appear as if you had hit the ENTER key. When making this post I applied the command twice where I wanted one paragraph appear as two paragraphs with a line space between them. In summary, the letters BR between the greater than sign and the lesser than sign are the command for a line break. If you later edit your post you will have to re-enter the command(s) for a line break.
Keep an open mind, or get financially repressed -Zoltan Pozsar
How do you make paragraphs on this improved board?
The privileged among us just hit the enter key.
It may possibly be a browser setting. Which browser do you normally connect to PCGS with?
I have no trouble with Chrome, IE or FlakyFox.
Thanks. I think the problem is that I always use my dumbphone rather than computer. I'll try from the laptop to see if that makes a difference.
Thanks derryb. That worked.
Knowledge is the enemy of fear
Keep an open mind, or get financially repressed -Zoltan Pozsar