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Silver

33 posts in this topic

Posted

Wow! Have you been noticing the price of silver lately? It's shot right through resistance, and was at $7.42 today. That's almost double what it was at the lows of 2001. For the same percentage return, gold would need to be over $500! Just think, all those 40% halves I've been saving from circulation over the last 10 years might be worth something now! And the best part is that nobody is really even talking about it! 893scratchchin-thumb.gif

Posted

I hadn't noticed, but now I have to wonder how this price run will affect my collecting habits. hi.gif

Posted
I hadn't noticed, but now I have to wonder how this price run will affect my collecting habits. hi.gif

 

Well, unless you collect junk silver or silver rounds, it probably won't affect it too much. stooges.gif

Posted

Well, unless you collect junk silver or silver rounds, it probably won't affect it too much.

 

D'OH! foreheadslap.gif There goes my collecting budget for Franklin Mint art bars! 893whatthe.gif

Posted

Didn't Warren Buffet buy a whole bunch of silver a couple of years ago?

Posted
Didn't Warren Buffet buy a whole bunch of silver a couple of years ago?

 

Yes, but it is widely believed that he sold it a very short time later after the news of him buying it came out and the price spiked. I believe he purchased $600M worth.

Posted

The Bill Gates rumor can about because he is close friends with Warren Buffett. When he was asked about it he refused to comment on his personal investments. The only thing he said was that both he and Buffett purchased 100 shares of each others company.

Posted

And silver just soared past $8 and is currently at $8.15/oz.

Posted
And silver just soared past $8 and is currently at $8.15/oz.

 

Whoo Hoo! I'm rich! I'm rich! I'm filthy stinkin rich I tell ya! Whoo Hoo! Whoo hoo! Whoo Hooo!!! (say it like Daffy Duck).

Posted
And silver just soared past $8 and is currently at $8.15/oz.

 

Whoo Hoo! I'm rich! I'm rich! I'm filthy stinkin rich I tell ya! Whoo Hoo! Whoo hoo! Whoo Hooo!!! (say it like Daffy Duck).

 

You may want to tone it down a bit. Not al of us are rich over this. In fact, I'm going to be poorer. As a collector of beautifully toned silver commems this run up in price will affect my collecting strategy. Each of these commems contains about 1/3 oz of silver. 893frustrated.gif

Posted
You may want to tone it down a bit. Not al of us are rich over this. In fact, I'm going to be poorer. As a collector of beautifully toned silver commems this run up in price will affect my collecting strategy. Each of these commems contains about 1/3 oz of silver. 893frustrated.gif

 

And what of us poor thaler collectors? Those darn things are pushing an ounce of silver each !!!!

 

-JamminJ

Posted
And silver just soared past $8 and is currently at $8.15/oz.

 

Whoo Hoo! I'm rich! I'm rich! I'm filthy stinkin rich I tell ya! Whoo Hoo! Whoo hoo! Whoo Hooo!!! (say it like Daffy Duck).

 

WOO HOO

 

Leo

Posted

I wonder how all the silver gurus are feeling today. 893scratchchin-thumb.gif

 

Silver was down 77.5c to $6.17 today.

Posted

Excellent. Almost time to buy those last two rolls of silver eagles I need...Smithers, get me my draft ledger...

Posted

I wonder if there is some sort of price manipulation going on? I keep hearing in my mind the words from the song "Spinning Wheel." "What goes up. must come down..." I wonder if gold, platinum, and certain rare coins will drop next?

Posted

Excellent. Almost time to buy those last two rolls of silver eagles I need...Smithers, get me my draft ledger...

 

Smithers....release the hounds!

 

jom

Posted
Excellent. Almost time to buy those last two rolls of silver eagles I need...Smithers, get me my draft ledger...

 

Smithers....release the hounds!

 

jom

 

Get me my gyrocopter!!!

Posted

While silver is stable, platinum is down $48.50 a ounce today and I believe it was down quite a bit yesterday.

 

I'd love to see the metals market and the rare coin market (which really have nothing in common) crash. cloud9.gif

Posted

Looks like I spoke too soon. Silver has dropped again and is looking to break into the $5.xx area.

 

I wonder if someone was buying up silver the past few months and just dumped it the last few days. It wouldn't surprise me to hear Warren Buffett did it again.

Posted

Silver will be 6.50 next week

Posted
Silver will be 6.50 next week

 

Then there is millions to be made by buying today. gossip.gif

Posted

Typically things-stocks, bonds, commodities, will retrace or bounce an amount equal to 38% or 50% or 62% of the previous move. This phemomena is sometimes known as Fibonacci Retracement levels, after the 13th century mathematician. Silver fell from 8.50 to 5.50. A drop of 3 dollars. That means a bounce of 1 to 1.50 to possibly 2 dollars is in order.

 

The minimun bounce is almost always 38%. Thats how I determined my 6.50 price. It could very easily bounce to 7 though. That is not to say that it will not go back down to 5 again. It certainly could.

 

And yes there are millions to be made. The big commodity traders are very well educated in the use of Fibonacci lines and you better believe they will make mucho $$$$$$$$$.

Posted

Does this mean the mint will rethink their idea of raising prices? I think not...

 

-Jill

Posted

I enjoy reading the so called experts in their analysis of the precious metals. With each dip they say it's a correction but with each dip, the metals appear to be heading down more. Between the bull and the bear, eventually these experts will be right but I'm not very comfortable with the advice they dispense.

 

Just my 2 cents.

 

Dave

Posted

Well, you could have bought gold at $420 and silver at $8.40.

 

or.....

 

You could have bought a Pontiac Aztek.

 

There is always a bright spot.

Posted

And there is a HUGE reason why silver is and always will be:

 

"Poor man's gold."

 

Silver swings are brutal and frequent. The spreads on the metal will kill you as no one wants to buy when it's high and no one wants to sell when it's low.

 

I have a minor silver position of physical metal. And a major position in gold bullion coins.

 

I hold both simply as insurance against catastrophic currency collapses.

And that IS possible with our debt.

 

It's prudent to hold at LEAST 5% of every nickel you are worth in gold and precious metal. I use 15%.

 

But I'm a coin nut.

 

foreheadslap.gif

Posted

It is still heading down. It's at $5.89 (- .35) today and gold is at $385 (- $13) and platinum is $796 (-$37). Even copper is down.

 

Someone make a killing by buying a ton of these metals and dumping them. I can't wait to find out who.