Is it Too Late To Get on The Silver Train?

[jackson64]

E1 knows that silver is skyrocketing.....is it too late to get on the silver train?...what if it levels at $30?..that's still a nice % to cash in...

 

Question: how will you approach the large % silver jump?...buy a bit. buy a lot, stay away, sell it at a fixed price???

[jtryka]

Didn't I just buy a bunch of silver dollars from you? =P Seems like you might have answered this one yourself! Seriously though, I think silver will continue higher, and eventually it will eclipse the former highs. Keep in mind, silver in 1980 probably would have peaked at $25-30 had it not been for the Hunt brothers (ironically enough, the top 10 silver short sellers on the Comex have way more silver short than the Hunts could ever dream of, yet no letters from the CFTC to them). If you look historically, throw out that old 16-1 ratio, as even in the late 19th and early 20th century, market prices for silver were in the 45-cent to 80-cent range, which put that ratio from 46-1 to 26-1. So even at a conservative 30-1 ratio, with gold at $970, that puts silver at $32, and arguably silver has become more scarce over the last century, while most of the gold ever mined is still around. Could silver go higher? You bet. Is it ever wrong to take a profit? No way, but you have to ask yourself, if you sell your silver for a profit now, where will you put it?

[WoodenJefferson]

 

 

Too late, I already sold all my junk back in early 81 when silver peaked out at $54 spot...course, you never really ever get that much for junk silver. Remembering as best I can, slick Morgan's I got $18 apiece and worn Franklins were only $9, about half. I did not have a single dime at the time…no, no, Roosevelt’s to turn in so I don’t know what they were going for at the time.

 

I waited in line at a motel for like 3 hours and the transaction only took about 5 minutes. Holding and lugging 5 lbs of loose silver around can and did get tiresome…by the time I finally got in there, I would have sold them at any price.

 

By the way, the checked cleared with flying colors.

 

The buyers ran ½ page ads in the local newspaper and were in town for three days buying everything precious. No one can really say, but I’m sure they were representatives from the Hunt Bros. cartel.

 

Ya’ll have good luck with this boom…I rode the wave and made it all the way into shore on the last one.

 

[BECOKA]

It's only too late if you buy at a high point. You need to goto the precious metal sites and look at the indicators of why it's moving up. There are many articles to read.

 

It could be to the declining dollar, mining issues or a bunch of other things. When you see a key if it happens to be mining issues then the prices will continue to climb until the issues are resolved and then watch for a big drop.

 

If it's the declining dollar then watch for indicators the economy is stabilizing. i.e. when the interest rates start climbing.

 

There is probably still a little room for growth but I think there are stocks that look much more attractive after the recent declines.

[bsshog40]

This silver hike is definately chaging the prices of the eagle's I need.

[rons]

Woodie, we have a guy in town this weekend offering 12x face for all silver coins. I went through my culls, missing dates, cleaned, and missing one or two numbers in the date to see if it would be worth the trip. I don't have 5 pounds but I do have about $30 face so it may behoove me to take a little now.

[WoodenJefferson]

(thumbs u

Better than a sharp stick in the eye:baiting:

[World Colonial]

E1 knows that silver is skyrocketing.....is it too late to get on the silver train?...what if it levels at $30?..that's still a nice % to cash in...

 

Question: how will you approach the large % silver jump?...buy a bit. buy a lot, stay away, sell it at a fixed price???

 

The answer to you question to me is another question. Which train are you trying to catch?

 

If you are buying to speculate on the USD price of the metal, then I have (incorrectly) for a while thought that this train had left the station, for the near term anyway because I am definitely bullish the metal longer term. My primary rationale has been two things. First, that silver was moving up primarily because of the credit bubble (which is in reversal now). And second, because when most people are bullish on something no matter what it is, lopsided opinion, which we definitely have in silver now, will eventually be wrong. (My measurement of excessive optimism is the Commitment Of Traders Report. It is at about 95% bulls now and has been at over 90% a lot in the last couple of years.)

 

The problem with these types of predictions and forecasts is that commodities, including silver, will sometimes peak after a vertical rise. The price action of the last week is at least a small example of that.

 

The other train so to speak is owning the metal for the purpose of owning real money. And if that is your real objective, then my advice to you is to go ahead and buy it. Of course, I have not followed my own advice (as I own very little of it) because I was hoping to buy it cheaper.

 

But if you do buy it for this purpose, make sure you either take delivery yourself or store it in a secure facility. For large purchases, my first choice is the Perth Mint.

 

[BillJones]

I have not desire to get on the silver train.

 

I would rather have numismatic coins, and leave the invests to stocks, bonds and brokerage accounts.

 

The last bit of silver I had I purchased as a dealer and turned over a couple years ago.