Silver at $30 means?

[jackson64]

It is funny reading back over this thread...there was a lot of technical talk about markets that is way over my head and an almost universal agreement in December that silver would have adjusted back to $21 an ounce by now.

 

If you read my prior post back in page 2 or 3 of this thread--I'll stick with my accumulating of non-perishable foodstuffs and silver that can be used in barter.

 

It is just my opinion but don't think we've seen the bigger parts of this social unrest that is happening...we should all just pray that it doesn't rise up in Saudi Arabia or that Hezzbolah and Hamas aren't planning anything with Syria and Iran...all of these numbers and prognostications through educated means won't mean much if the turmoils in the Middle East keep growing.

 

Tunisia..overthrown

Lebanon- government overthrown

Sudan- split into 2 nations

Egypt- overthrown

Libya- almost overthrown

Bahrain, Oman, Jordan, Yemen--al with on-going demonstrations gaining steam

Iran warships in the Mediterranean

Discovery of Syrian nuclear plants

Genocide in Kenya and Nigeria

Somalian poverty/pirates

Nut-job in N Korea with nukes itching to attack S Korea

 

Russia is also putting the squeeze on Europe who is dependent on their natural gas pipeline/s, China has a growing thirst for oil everyday, Venezuala ( who supplies 7% of our oil) has announced that they are considering breaking the contract with the USA..like it or not, we are a global economy and to underestimate the impacts on markets by foreign events is not so smart...

[jackson64]

Sorry Augustus, I re-read my post and it does come across mean-spirited and I didn't intend for it to sound that way. I never meant for it to sound like, "I told you so" because as we all know, silver could drop like a rock tomorrow. If I had the money that some of you all do to buy 100 oz's or more at a time I'm not sure I would have done it at $30 or even at $25.

 

I also don't agree with the poster who asserts that us average-family's big loss/concern should be the drop in our 401K's and real estate prices-- this may be true if I'm looking at things for a long-term perspective and retirement in a few decades but for right now the doubling of my monthly gasoline costs to $400 a month for my wife and I combined ( $50 a week each to get to work now) and a near doubling in our food costs--these things are of greater importance to me at this point than the $100,000 I lost in my home's value if I ever intend to sell...

[RockMyAmadeus]

Here's hoping it corrects all the way down to $7.....

 

[cpm9ball]

I'm hoping that today's correction will be the start of one that brings us back to $25/oz. I am not an expert on market timing, it is always a difficult thing to do, but a correction in the price of silver is long overdue.

 

 

Yopu'll have to wait a little longer for a correction. It's up more than $2 today to $38.16

 

Chris

[jackson64]

March 11th--day of rage in Saudi Arabia?...Friday may see a bit of a jump back up--I know it's un-scientific but it would definitely follow the trends of the past months..it will be interesting to see..

[rons]

This mornings APMEX lists 2011 eagles @ $42.93 and other years beginning @$43.43. Proofs starting @ $64.99 wowsers!!!!

[jtryka]

Well, considering that all those years of silver under $10 was the result of the large bullion banks supressing the price, the current actions is really not a surprise...

[bsshog40]

$47.83 @ 7:27 CST

[Chris1976]

another thing influencing the silver price rocket is that just a couple of months ago, the purchasing of silver was finally opened up to the public for the people in china. With all those people buying silver right now, its bound to cause the price to rise.

 

-Chris#2

[physics-fan3.14]

Yeah, but it just dropped like a rock to 46.33. The beginning of a correction, or is this profit taking like you are doing?

[Brol]

My mechanic is still drunk after Sunday and my car still not running. Someone knows or it will affect the silver/gold price on the market?

[bsshog40]

I'm jus gonna wait for it to drop, buy more silver again, wait for it to go bac up and get rich.

[Brian D]

That's a Good Idea Bobby, I just don't think I can wait another 31 yrs. If i do I might be a little to old to enjoy it. Yes it did drop hard .

[Kamillion]

I'm jus gonna wait for it to drop, buy more silver again, wait for it to go bac up and get rich.

 

(thumbs u

[Kamillion]

no it didnt drop hard....it went up hard....then corrected back to close the gap it made, now it normalized..

[$ilverHawk]

We are in no mans land. Consensus says to look for a 20% correction in May. Buy opportunity? Who knows?

 

I'm a buyer at any price below $40.00. The falling dollar makes that decision easy.

 

$ilverHawk

[Hibou]

Hello,

 

I'm over on the CGC side of things but have about 10 Silver American Eagles that I'm looking to sell.

 

Has anyone here dealt with this place...

 

http://www.apmex.com/

 

I guess they're buying them at $3.00 over spot which today would make it $48 or so.

 

I could use eBay but I'm hesitant and I've also looked a little at the Markerplace on this side but it looks a little different from the sales section on the CGC side.

 

Just curious on any thoughts at this point.

 

 

 

 

[jamorse99-migration]

I've used apmex and they are very reputable. I would try a pawn shop and coin show/store locally first to see if they will beat the $3 over spot, but apmex is good. What is the date of the eagles?

[Hibou]

Thanks for the information on that!

 

I think I'm going to just try and sell them on here before calling Apmex...

 

I'll put them on the Marketplace and go from there.

 

I have a total of 15 (some are toned) and the dates are:

 

 

 

5 X 1988

 

2 x 1989

 

1x 1997

 

2 x 2002

 

2 x 2004

 

1 x 2005

 

1 x 2006

 

1 x 2008

[gmarguli]

If and when silver hits $30 an ounce, what impact will that have on low grade silver coins?

 

A dealer has been selling me $5K-$10K boxes of higher grade "modern" silver world coins at around melt for the past couple of years. Basically, he sells them to me for about what he'd get from the smelter and I sift through them and slab the higher grade ones and ship the rest off to the smelter of my choice.

 

These two coins were in the last large group I purchased.

 

 

This Cuba "Souvenir Peso" catalogs at $60 and routinely sells in typical PR64/65 condition for $35-$50. By far the nicest example I've ever seen.

 

 

 

This Malta coin is quite a bit more scarce. According to Krause, they made a few thousand silver plated copper-nickel ones, but the .9250 silver version has a mintage of 3 and the .9990 silver version also has a mintage of 3.