$50 Silver in 2011 predicted by CNBC analyst

I was watching the Fast Money show on CNBC this evening and they had an analyst that predicted Silver would hit $50 an ounce in 2011. Pretty amazing.

I wonder if $50 silver happened, if would it put a lot of silver coin collectors out of commision -- certainly it would make (silver) coin collecting a much more expensive hobby.

(Hard to fathom that silver was trading around $4 in 2001. Ahh, the good old days!)

 

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hard to say you can analyze, estimate, gustamate look at all the charts and when in comes
Right down to it who really knows

 

I hope not, I would like it to go down a bit so that I can buy some more without spending ALL of my money, and then it can do whatever it wants.

 

Personally, I'm going out on a limb, and predicting that next year, silver will reach some multiple of its current price.

 

It already put this silver coin collector out of commission. I am collecting for the numismatic value, not the silver content, so why pay a premium now? I don't want to wait years for the price to drop, but I can't justify $5-$6 for junk Washington quarters to complete a set.

 

I predict on the stroke of midnight Jan. 1, 2000 all our computers will cease to work and our entire computer-based society will crumble. Oh wait, that was 11 years ago and it didn't happen...at all. Thats how predictions work...some guy sitting at his work desk trying to figure out how to make a buck by scaring the tar out of as many people as possible. It's been working great with so-called economists lately.
Guy

 

Me thinks I will work on my Lincoln's and upgrade more.

 

As a follow up I forget to mention where I saw copper prices were continuing to go up.

 

Yeah, and gold is gonna be worth the world. Guys, all these "experts" who are dealers or not predict this. Well, finance advisors are not numismatic professionals.
It may be true, it may not be, don't put stock in everything they say.

 

I just wish now that I am back in to buying coins, the metal prices were not adversely effecting my purchases.

 

Gosh darn, I like that reply Guy.

PS: You can scrape the ice off my car anytime.

PPS: Nobody's gonna have a clue where that one came from 'cept you and me.

 

It is hard to listen to advice from people who's profession will have them in a position ( one way or the other ) to make money for themselves if people jump for it without doing any research or logical analysis. It could go to $50, but I bet copper hits $5 and gas $4-5 ( other predictions) long before silver does $50. He gave the old " Silver is used in many industrial applications" as support. But no one knows for sure, as another analyst said he expects a 10% drop from the highs for gold and silver in Jan-Feb. For sure the last people who get the real "word" will be the amateurs like us

p.s. I remember the Y2K scare, even set the date and time back on mine until I could see what happened to others

 

I hope it doesnt go that high. I would like it to go down so I could purchase more and complete some of my sets. It makes it tough on a poor guy with a budget. I'm sure there's alot of silver guys on the other side of the scale with big ole smiles on their faces.

 

If it Rises im glad i have some few ounces if it drops im glad that i will be able to continue buying to complete new sets . Either way its a win win just go with the flow.

 

Yes, the same analyst said copper would hit $5.25 / lb. (it's around $4.20 now) ... and oil would hit $150 / barrel (it's around $90 now) ... in 2011.

I wonder if all this happened, if the U.S. Govt would admit there is inflation ...
They seem to have ignored all the recent price rises and swear that we have 0% inflation currently.

All i know is there sure are a lot of things that seem to be going up in price.

 

I type this from my fallout shelter that has been my home for 11 years... please elaborate. I miss the sun.

 

funny ... love your avatar ... especially the pipe

 

As the saying goes, opinions are like a**holes -- everybody has 1 and they all stink. There is no person alive who can predict the future consistently. Until that person is found, I will refrain from making a decision based upon any so-called "expert". Why do you think they are called anal....ysts? People who make predictions are basically just wasting everyone's time, but I guess it gives them something to do.

 

A LOT of work went on by a LOT of companies to assure that Y2K would not have the impact that it COULD have had. And that is why it DIDN'T happen. Not just guesswork. Our company was in Industrial Process Instrumentation; as an example..manufacturing for and selling to power companies, amongst others. One such runs/ran a simulation, or a twin (I don't know the proper word to call that) setup, testing for every possibility for outages, crashes, etc. They were working on Y2K fixes WELL before 1999, 1998, and even 1997. If a CEO does his job right, he will have solved the "big problems" and then all the rest of us can say, "See, I told you there was no problem.."

Regarding price of silver -- who knows?

Lucy

 

Well, I just read in a Journal article that speculators are over 25% of all commodities right now, and much more than that for silver. The silver industry has raised production significantly, is opening new mines at a fast rate, and STILL speculators are raising the price. Having this talk on a show called "Fast Money" is fitting, since it is mainly speculation that is raising the price. Remember $140 oil? That was all speculation and it went down quickly to $60 when the speculators found something new to speculate in.

I will be selling all of my silver, including most of the coins in books, in 2011 and waiting for cheaper silver to replace them.