silver @ 34/oz

I agree/disagree entirely with rickmp

 

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Something tells me you may be right.

 

I guarantee that it will.

 

My comment was just an observation that unless a person sets a buy price and sticks to it, no matter where the price goes it will seem just a dollar or two too high. In my case, I set a ceiling of $20 for silver back when it was around $12, and I will not buy and have not bought above that price, and it's worked out well.

 

I bought the equivalent of 100 oz. when it was at $17 and sold about half at $46 a year or so ago when it topped out at $48. Since then, I've bought at $24 oz. and at $28 oz. If it gets closer to $40 I'll sell off some of it.

I won't buy anymore as long as it stays over $30.

 

If you follow trends, look at 2010, shortly after an election and one party takes control of the house or presidency, metals tend to skyrocket temporarily. The BIGGER PICTURE: in my opinion is 2 fold, 1) The Chinese are now producing silver and gold plated bars that look real, test real and weight real but they are fake. Just recently in a similar but different situation, Rolex went after the Chinese market for knockoffs, the problem became, and thrown out of court, The Rolex experts could not tell the difference between their watch and the knock off.

 

When the moon is in the seventh house and Jupiter aligns with Mars...

 

are you saying its bad to buy right now cuz of the fakes?

 

Then peace will guide the planets, and love will steer the stars!

 

I am not saying it is good or bad. I am just saying buyer beware. Once the bottom drops out of the bullion market because of the flooding of fakes, which we need to remember the coin market in the last few years, the problem with the bullion is, it is not considered to be counterfeit like the coin market was. The US government was able to slam the door on that and even pressure Ebay to remove even the replica's. Like the Rolex example I used, it will be the responsiblity of the bar manufacturers themselves to go after the Chinese manufacturers for patent infringements and this could take years to get through international courts. In the mean time are you really buying gold & silver?

 

Not necessarily, it all depends on what you're buying. If you're buying new bars you should be careful, but government issued bullion I wouldn't worry, as well as junk US silver.

 

With attention to detail, a Rolex can be faked. An element cannot be faked if put through the appropriate tests. I'm buying. It's not so bad that you can't find the real stuff easily.

 

I am buying also. But keep in mind if buying, you are buying strictly for investment, because the only way to prove the ingot or bar is the "V" cut it or drill it. I have had numerous conversations with some of the best: in the private sector and government sector and they all agree......the fakes will pass....weight, acid and magnetic test. But, the insides are fake. I agree, it is still a buyers market, however, once the market is flooded with the fakes, are people going to be willing to buy and sellers will lose unless otherwise certified, like coins. I am buying, just presenting a serious situation developing that anyone concerned should be interested in and pushing the right buttons to stop it. And if you are asking me where these places are.....look at most auction sites, almost all of them. Interesting Amazon, Ebay etc have doubled or tripled their listings in the last 12 months under billions. I am looking at a 35 year old 1 oz of Sussie gold which I have owned for over 50 years and a new one just bought from china.......thee each weigh 21 penny weight or 31.5 grams. Each passed magnetic test. Each passed acid test. But when the on from China was cut in half, it failed acid test. The cost of the fake gold bar....$3.50. Like I said Buyer Beware. There are copying bars from 10 -20 years ago.

 

You can use ultrasound to test it, already posted before but here it goes. So who is going make ultrasonic testing app for the ios and android?

http://www.goldmoney.com/gold-testing

 

The price of metals is dropping because the dollar is getting weaker, because the Euro is getting strong. Why? Because Spain got a ratings downgrade. While this seems counterintuitive, the reasoning is because this downgrade will accelerate their need for a bailout, which most people are expecting them to apply for from the ECB. It's a bad news is good news sort of situation since a Spanish bailout means risk-on in the Eurozone, at least until Greece comes up on their next deadline. I wouldn't expect it to go much lower under the current circumstances, which are of course always subject to change.

 

There is a lot of junk silver being faked in China. You can recognize it because it looks sand blasted. The edges are crisp but the wear is perfectly even, and for as crisp as the edges are it should be shinier. It's pretty hard to find older coins that are both non-shiny and evenly worn.

I bought the majority of my stack directly from the mint that produced the bars so there's no worry about counterfeit. Other than that I stick to government bullion as well as junk silver for smaller denominations since it's a lot cheaper than fractionals.

 

Wrong, do you ever get anything right?

Holy cow, how did you know?

Chicken, sitting on the fence like that.

 

wow an old thread brought back up! I hope we see 34 again sometime!

 

me too