"2011 Silver High $50" The sky is the limit

silver new high again $34.97 per ounce.
gold new high - $1,440.60 per ounce.

 

Log in or Sign up to hide this ad.

Are you referring to this year 2011, or the next 2011 that comes around the corner?

 

What your teacher told you is mostly wrong, or perhaps only right over a period of a century or so. Maybe it was more accurate back in the days when gold and silver were used as money. This is easily demonstrated. Gold has increased by a factor of more than 5, and silver by a factor of more than 6 in the past decade or so. But general price levels are not up by the same amount nor is the dollar down by 80%. In the 1980s, gold dropped by more than half and silver by more, but prices did not drop by half. They continued to rise throughout the entire period. So this is one of those often repeated statements that is very misleading.

 

I love it! I'll have your spam!
I'm having spam, spam, baked beans, spam, spam and spam!

 

Silver finally broke 35/oz today. It seemed a bit of a struggle to get to 35, considering how quickly it rose to 34.

 

This is true Cloud, but there is an element of truth in the statement. A lot of the runup in prices the US is seeing recently is not a true run up in values, it is effectively a weakening of the dollar. Even more globally, weakening in many currencies. If the dollar is devaluing, from a common citizen's perspective it will appear that any imports or exportable goods are going up. They aren't goin up, you are going down. Maybe that is what the OP's teacher was trying to express.

I am still leery of silver in particular. I am smelling some hedge fund activity here. Not sure when to bail, and not saying long, long term silver is not a good contra asset, I am currently just suspicious of overspeculation. Just my opinion, and I hope many or most disagree with it, (I hate investing the same way as the crowd). I got goosebumps, (not the good kind), the other day when I ran into 3 straight stories on Yahoo telling how good an investment silver coins were.

 

...

 

Yabbut, the world is spoze ta blow up too.
If the economy doesn't collapse, there will be a bunch of people losing 50% of their investment and sitting on 800 pounds of food and ammo.
A lot of people are hoping the sky is really falling.

 

I have some worries about silver also, but I suspect if any whale or hedge fund had something in mind, the middle east conflict is impossible to predict now, and they have probably not decided which way to go either. I have noticed that copper has slowly been edging up again. Maybe from the thought of increased manufacturing and I haven't noticed much hype lately. GG seems like a good stock play for gold , silver, and copper, and may be more stable than GLD, SLV or JJC. IMO. Monday could be disastrous, sameold-sameold, or "lets look at new cars" well really some new parts for the old cars.

Jim


Jim

 

I think the teacher probably meant exactly what he/she said, that gold and silver do not fluctuate in value, only the dollar does. And I would disagree with that since, as you point out, the hedge funds seem to be active in the recent run-up. Personally, I welcome the speculation because it could result in spectacular profits. I also don't like the amount of press that gold and silver are receiving, but the same thing happened in tech stocks in the 90s, and the price continued to rise for a couple more years. If/when the price goes parabolic, it will be time to sell. It isn't easy.

 

If you are looking for something a bit more "exciting," take a look at RBY and UXG. I've owned them for a few years as sort of a venture capital investment that hopefully will pay off some day. I think both are above average quality for pre-production situations.

 

gold $1,445.20/oz
silver $36.79/oz.

 

Cloud, you hear about the new movie kiosks that will let you download movies to a thumb drive? I hear Blockbuster is getting into it to compete with RedBox. Apparently there's a technology that disables the movie after some period of time...interesting.

 

It's a week later. I listed a batch of .925 fine sterling silver medals on eBay again, this time they sold for between $29-35. Now people are paying a premium for lowly sterling silver. The feeding frenzy is in effect!

Meanwhile I'm buying rolls of average circulated morgan and peace dollars for around melt. And I'm considering buying another lot of 100 silver rounds from APMEX. Whaddaya think?

 

It sounds interesting, but I try not to invest in situations where there is a lot of competition where two or more companies will tend to destroy each other over time.

 

The local B&M gives 1 oz for forks, spoons, and serving utensils and 1/2 for the handles of the table knives, 1/4 on butter knife handles.

But I agree they are a pain.

 

I think I would see what your LCS sells them for. My LCS is about $1 over spot for Ampex rounds and bars or other reliable physicals. Plus, no shipping charges since I walk in and carry out. Then, based on my states laws, I can sell back to them (they pay spot) and they do not have to report buying back the silver they sold me. I have to check on the Legal Tender 90% coins, I know I can get halves but not sure how they do the dollars, or at least how many commons they have as those are popular here.

Selling via eBay is a gamble as you pay over 10% in fees between eBay and paypal fees. Not worth the hassle for maybe $1 more an ounce plus waiting a while for your money.

 

ROFLMAO
Oh my God the silver crowd is funny. Nope it never hit $100.00 within that decade, but "who the heck knew?". Well anyone who isn't a silvidiot knew.

 

Lol last seen 8 years ago