Silver breaks $14!

[jtryka]

Spot silver is at $14.05 as I type this, and in the words of michael, are you a buyer? a seller? How is this affecting your collecting?

[MunkyMan95]

I just posted this, but if silver goes above $15 then I'm a seller! Buyer weeks ago, very fortunately for me

[Larry Dreher]

I'm a "holder" right now. These things tend to end in a blow out and even at 14 or 15 it doesn't feel like a blow out to me yet. Add in the uncertainty of world events and I think we have a long way to go.

[zrlevin]

I just bought a roll of mercs and a few other coins today for under spot. I'm still a buyer I guess. I'm planning to hold these coins for years though, so all that spot means to me now is how much silver I can buy with my budget.

[jgrinz]

I am holding also ... Eventually some lucky buyer will be able to purchase my complete ROLL set of Silver Eagles From 1986 to present. Numismatic value obviously addds to it intrinsic value especially my 1996 roll but I am waiting for 20 25 an ounce and think its possible with todays uncertain economy and GAS prices hitting the roof ... Just hit 3 bux here in MA. What is your gas prices now ?

[michael]

silver

[TJ'S Coins]

In August of 2004 I bought four one ounce silver rounds at an estate auction. I picked them up for a dime under spot at the time ($6.76). If silver stays over $14.00 an ounce I have doubled that small investment. I'm holding for a while longer since I think silver and gold will continue their strong bull run. If silver goes over $20.00 I would strongly consider selling. This is most interesting time to hold precious metals and rare coins.

[jtryka]

What is your gas prices now ?

 

Our gas prices have been falling, last week it cost 0.23 ounces of silver for a gallon of regular, today it's only 0.19 ounces! (but if you pay in greenbacks it'll cost you $2.75 today, but it'll probably go up to over $3 today since our stations are strange and like to just pick a day and raise prices 25 or 30 cents to tick everyone off).

[ronday]

I have bad news and jtryka hit it on the head. The value of silver and gold are not going up. The value of the dollar is Plummeting!. Just look at the value of the dollar against the Euro in the last month or so for confirmation.

 

Since we no longer manufacture anything we will be paying more for all those imported goods as our dollars buy less and less.

 

I would love to have seen silver go up in value, I think it has been undervalued for a long time for many reasons. But this is not the recovery of the silver market - it is a correction for an overvalued dollar on the world market.

 

Bad News all around.

[scroll]

I'm a "holder" right now. These things tend to end in a blow out and even at 14 or 15 it doesn't feel like a blow out to me yet. Add in the uncertainty of world events and I think we have a long way to go.

 

I too am a holder. No more money to play with.

 

OTOH, my modern collection is worth more than my debts, but that does me no good when the charge bill comes to my door.

 

I look at it like this. With both oil and the stock market climbing it's my hedge. Since my holdings are mainly gold & silver Eagles, modern commems, and a few 10 oz art bars for good measure I wouldn't lose sleep if the price tanked tomorrow. My only concern is the regret I would feel if I decided to sell all and go debt free, only to see the prices continue to soar.

 

So I remain a holder for now and we will see what happens.

 

In the meantime, in ballpark figures, so what's happening to the price of older silver collections like Merc dimes? If they too start to jump I may have to find another pastime for a while until this "appreciation crisis" is over.

[scroll]

I am holding also ... Eventually some lucky buyer will be able to purchase my complete ROLL set of Silver Eagles From 1986 to present. Numismatic value obviously addds to it intrinsic value especially my 1996 roll but I am waiting for 20 25 an ounce and think its possible with todays uncertain economy and GAS prices hitting the roof ... Just hit 3 bux here in MA. What is your gas prices now ?

 

You know, years ago when silver was a flat market some coin dealers would indulge in tales of $50 silver then start talking about this or that foreign country buying metals for this reason or that. While at the time I thought $50 silver was possible due to inflation (remember the Jimmy Carter years??) I wasn't sure that I would live to see $50.

 

Today, I do.