What if silver plummeted down to $15oz, would you be ready?

I just thought this subject would be fun to run by y'all. Some of us have amassed huge piles of silver coins, bars or whatever. What would you do if the price dropped in a very dramatic way down to $15oz within the next week? Do you think you bought way too much? Would your wife or SO say "I told you so"? Would you be broke for awhile? Just wondering and this is only for discussion and not to stir anything up. :thumb: Anyone?

I love mostly all my silver coins so I would be alright. That said, there are some pieces that I paid way too much for so it would hurt but I don't know how much.

 

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I would be able to start buying some of the silver coin I need again. I may buy as much regular bullion as I can afford if it goes back that low, which I think is a good possibility.

 

If a silver crash would leave you broke, then you were never in a financial position to be purchasing silver in the first place.

That being said, is it just me or is the number of "what if silver..." threads starting to get beyond ridiculous on this forum? We can only hash and rehash the ups and downs of a PM so many times.

 

If silver dropped to $15 next week, the only thing I would regret is buying the ATB set for too much...... But, I love them so it wouldn't hurt too much considering I never plan to sell anything I own anyway......

 

LOL! I was thinking the same thing..... A whole lot of silver threads..... But what do you expect with this historic move in silver! A lot of excitement!

 

Only regret is I didn't sell all @$46 so I could buy 3 times as much next week. Also even it goes to $30's again I'll feel a little pain. Never like losing money.

 

It's not just you.

People like whistling when they pass through a cemetery at night. We are in that cemetery right now, where the dead (silver) has come to life.

Frankly, the silver zombie is scaring the poo out of me, too, right now.

 

If silver dropped to $15/oz, I'd consider it a huge buying opportunity.

Frankly, I'd double down if that happened.

 

Agreed. If by some miracle it dropped to $15/oz I would be very tempted to buy several hundred ounces.

 

i would be happy because i would buy a ton more silver. since the majority of the silver i bought was at $11-13/oz. i have already been able to amass a good amount. so it would just allow me to stockpile again for the future :thumb:

 

If silver dropped to $15 next week, I would definitely buy more. I wonder if it would be VERY HARD TO FIND at those prices.

 

You would not find it available to buy at those prices, you are right. It took years after the 1980 crash to be able to buy silver at spot. I would go to coin shows and it seems all of the dealers had "reasons" why they had to charge multiple dollars over spot. The reall "reason" was that they didn't want to take the loss from their purchase price, not realizing they already took the loss when the market went down.

Even if it went down to $15 over the course of 6 months dealers would want to sell at $20, if not more would be my guess. People pointed out a couple of years ago when silver went down how dealers wanted more than spot, and were saying this was proving there was a shortage of physical silver. I don't think it proved a shortage, I think it proved dealers are unwilling to accept losses on their stock until quite a bit of time elapses and they are basically forced to by competition.

Chris

 

If silver suddenly dropped to $15, it would probably signal that something was drastically different in the silver market. It would be important to find out what it is and resist the urge to load up until all of the facts were known. The last time silver dropped like that, it took 20 years to recover.

 

Yep that's what I've been hearing. I do not see it dropping at all, not yet at least and not for a couple of years. Or hopefully for a couple of years. I think that silver is gonna get to $55 and hold for a long time but I'm just guessing like everyone else. That said, it certainly is an exciting time! goooooo silver!!

 

I'd be happy because I'd be able to search halves and actually find stuff again.

 

My original bulk investment was primarily between the $10-$15 range. Since then I have accumulated another maybe 5% along the way. So no heartburn over a potential drop. If it goes up I'll hold, if it goes down I'm buying. It may or may not be in my lifetime, but fiat currency has never stood the test of time so far. If I don't realize the benefit, posterity will.

 

If silver drops back down to $15, I am definitely buying (if I can find any). TC

 

What's scary to me is what is happening to the value of our currency. Personally, I have accumulated silver in all coin forms since the price was around $6.50 an ounce. I NEVER looked at it as an investment, but I always felt my money was safe. Here's the dilemma, so I wind up selling my silver and reap great profits in worthless currency. Or hope our currency gets stronger and my silver becomes worth a lot less. All of us have coins, that at one point, we thought we paid waaaaaay too much for, and now those coins are worth what you paid for them just in melt value.
Sorry, my head has been spinning with some of these questions. Anyone else?

 

I see a lot of people ready to jump on the silver bandwagon when it drops to $15 in this scenario.

But like Cloudsweeper said, why? I too would be very eager to load up, but will we find out it's simply manipulation or did someone find 10 billion ounces coincedentally in a remote place like say Afghanistan? =)

It wouldn't kill me financially but I would be extremely disappointed. Dropping to $15 within a week is too fast for me to do anything with my holdings. I wouldn't be able to sell the fast enough.

I suppose all I could do is hold and hope it goes back up. If it stays hovering betwee $15-20 for awhile, I could live with that, but if it drops to $5 then I would be devastated emotionally I think!!!!

 

You're right on that. At least you're right about me. When I purchased some years ago at $16.50 it was a leap of faith after trying to do as much research as I can. I eventually bought more at $23.... I kept thinking about the $23 and how I once bought them at $16.50....

Now at well over $40 what can I say now? It's a steal!!!