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

If silver dropped to 15 an oz I would be loading up on more than I could even afford, I don't think it would stay at 15 long considering how much of the world would see this as an opportunity. Over the past few years many have opened their eyes and that is why I believe we aren't going to see cheap precious metals again for a long time to come. Too many people would take into account the amazing opportunity and buy buy buy! I have no clue how many people who don't own PMs have told me, "I wish I would have bought some when I could afford it.."

 

Log in or Sign up to hide this ad.

I'd start buying again. In the meantime, I'm selling - including this lot of good date Barber halves for near melt.

 

I've sold enough silver at higher prices to basically have nothing in the silver I have left.

When your cost basis is zero, how can you lose?

 

My sentiments exactly. It also helps to start buying silver when it was at $11...

 

Nobody needs to worry much about silver dropping that low as unlike the drop created by the Hunt brothers in the 1980's these prices in silver are real and should continue for some time. Has everyone been on ebay or other online outlets to see the prices? Man, oh man!! This is an exciting time!!

 

If it dropped to $15 I'd be wondering if I was going to have to live ALL of the 1980's over again.

A lot of people have said that they would be all over it buying, but I wonder how many really would. They didn't last time. When it dropped big time everyone scrambled for the exits. And as for the prices being "real" this time, I don't see it. The Hunts didn't push the prices that high by themselves, it was speculators and worry over the economy. I see the same thing this time. Speculators and woory over the economy. I don't see anywhere near enough increase in demand from legitimate users and consumers of silver to support these price increases. Most of it is coming from speculators and hoarders. If there was a major downward correction industrial demand would not be enough to stop it and once the first panicy hoarders started dumping to try and cut their losses I think it would turn into a flood. And the faster it goes up the more likely it is to make that correction.

 

My point exactly!!! I wish it would drop, or just shoot thru the roof!!!

 

I agree with this.

But the only major difference between back then and now is our debt. I don't know if America was the largest creditor back then, were they? Today it appears, that we are just flat out the biggest debtor, as well as losing our manufacturing. Also, were there even talks about USD losing it's reserve currency in the 1980's? Because those talks are happening now. Do they become realized? Who knows..

But those are the two things that I'd say might be different this time around....

 

One minor correction for ya... as a percentage of GDP, Japan is actually the heaviest in debt out of all post-industrialization nations.

 

True, but, isn't it true that although they are in debt, their citizens are savers? So they have a large rainy day fund to fall back on?

 

Japan is screwed. Their population may save, but their debt is twice their GDP. TWICE. Let that sink in.

 

I would have to estimate that even if their citizens were savers, with what happened with the tsunami and the fact they import all natural resources is definitely a pretty bad outlook....

 

But if they see it is an opportunity, why not buy at $16,17, 18,19,20, etc. Most people are horrendous at financial predictions, and comparisons. For example the point of Merc Crazy on Japan. If PM were priced world wide in Yen, would the price gain be the same % wise? or if the price was in Euros. think it would be the same gain? I personally would rather have the US financial problems on me than those of Japan or the European Union, even though their foreign exchange ratio seems to indicate they are doing better. DO either of those 2 countries have mining reserves of PM, rare earths, oil, natural gas, etc, that the US does? Where would they be on their own? Overall, they have almost double the chance of debt default than the US has, and yet we usually concede they are roses and we are compost. IMO.

But specifically to the point , if I liked physical PM at that time, I would buy from $15 up to $20, as that is my decision point that the price is at industrial needs. Above that and you will be exposed to a dead cat bounce.

Jim

 

If silver dropped, I'd jump for joy.

 

I would not buy any more, nor would I sell what I have. I'd just continue to sit on it. Most all purchased at the 4.50 - 6.00 range, with half stepped up in value in spring 2006, meaning if I did sell it at a loss, I'd be able to claim it, which I would try to time against a gain elsewhere. Hope that made sense!

Lucy

 

It's hard to imagine a scenario that would drive the market fundamentals for silver to the point where they would only support silver at $15 per ounce. A drop from where we are to $15 would most likely be based on some sort of market manipulation or anomoly and at that level an ounce of silver would easily have about $10 of short term upside. Of course you would have to keep your finger on the pulse of the market to quickly evaluate the reason for the decline.

Bluesboy65

 

Nah, it won't go down to $15 an oz but how low will it go down?? Can you imagine what would happen if Gadaffi got killed too? Would that knock down the price even further than $34.50?? Just wondering.

 

Just curious, why do you think $15 is such a low number? Just a couple of years ago it was below that. Do you believe any price below XXX has to be market manipulation and not just short term supply/demand? I think at $15 silver might be a tad low historically, but not obscenely so like in the 90's.

 

if i woke up to $15 silver, i would pull out my home equity and invest it in silver

 

I would buy some too, but not be crazy like that man! :O