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Silver

Started by jtryka,

33 posts in this topic

jtryka

jtryka

Posted
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

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jtryka

jtryka

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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

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TomB

TomB

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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

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gmarguli

gmarguli

Posted
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.

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gmarguli

gmarguli

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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.

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jtryka

jtryka

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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).

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gmarguli

gmarguli

Posted
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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

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JamminJ

JamminJ

Posted
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

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Leothelion

Leothelion

Posted
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

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jtryka

jtryka

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

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lclugza

lclugza

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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?

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jom

jom

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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

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jtryka

jtryka

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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!!!

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gmarguli

gmarguli

Posted
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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

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gmarguli

gmarguli

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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.

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chinook

chinook

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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 $$$$$$$$$.

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dakra

dakra

Posted
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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

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Count_Erfit

Count_Erfit

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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

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gmarguli

gmarguli

Posted
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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.

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