Silver is Crashing dramatically!

I dont believe its gonna happen over night but i believe the us government will start pulling silver coins for scrap also remember coingeek12 that 1982 and bfore pennies are 95 percent copper and when the government changes the law like silver where theres a market for us silver couns if u hoard away 82- before pennies u can be sitting on a future gold mine over time

 

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My personal opinion is that anything under $30 an ounce is a buy.

Many dealers, coin and bullion, are selling silver for about $2.20 over spot,
and paying $3.00 under spot.

So for an investment of say $32.20 per ounce, it could potentially be sold for the same if spot price reaches $35.20.

As the economy gets better, silver goes down, as it gets worse, silver goes up....
fundamental as history has taught us.

I feel that silver will continue to go up, and a norm price of $35.00/ounce is not out of the question.

I would seriously doubt if it ever hits that $8.00 per ounce as it was in 1999.

Even if it does, it will always be worth something, and as far as I am concerned, if I can buy it for $30 or less, it a great investment. Of course, you should always check the current spot price.

One bit of bad news for the markets, could drive it up over $50 again.

Good luck.

 

i do understand the worth of copper penny in metal, but i beleve that when the cent is no longer a currancy the mint will melt down pennys and it would be more of a profit to sell pre 82 cents to collectors than melt them for copper.

 

Thats what i mean coinguy that the pennies will generate a good profit down the line look at the people back in the 60s that spent silver dimes quarter and halves on candy lol i believe that it will get to that point soon with the government running short of money because everything is going up and our saleries are staying the same what does everyone think about saving copper pennies like we do the silver coins

 

well how do they gain value if the price of copper doesn't go past $4/pound?

there are other investments that you can make more on then letting that cash sit idle...

 

all these threads ever do is predict doomsday and that silver will skyrocket. silver has come down quite a bit and hopefully will continue to do so.

 

Amen. Let's hope the economy improving smoke screen continues......

 

If it does, you can always buy copper bullion instead.

 

I remember a couple years ago first seeing copper bullion at a coin show. Strange, strange thing indeed.

 

Heck, if you guys want to hoard copper, hit the local Home Depot plumbing section. Hog heaven! My personal fav is the 2" elbows........

 

...and remember to ask for a veteran discount. Both the Lowes and the Home Depot here offer a 10% discount for veterans.

That would be awesome if Provident Metals and APMEX would give me 10% off. :yes:

 

Platinum was like that... used in catalytic converters and the like. Didn't they just start using another metal once the price got too high?

 

But copper isn't considered a precious metal like gold and silver. As high as the price has been the past few years, you still need an awful lot of it to make any real money (copper is listed by the pound, not the ounce).

Plus, I bet there's an awful lot of it left in the ground too.

 

...and you can buy almost ten pounds of copper for the same price you can buy one ounce of silver. Which sounds like a great deal until you consider storing any amount of wealth in copper. Let's say you want to store $10,000 of wealth using copper. That would be 1.4 tons of copper. Not exactly easy to work with. $10,000 worth of silver would be what, 22 pounds? Not only convenient, but downright economical to send in a USPS Flat Rate box.

Or, how about comparing copper to gold. For the same price as one ounce of gold, one could buy about 450 pounds of copper. Most people who buy gold bullion have more than $10,000 to invest. Just for the fun of it, let's assume $200,000. You could buy 125 ounces of gold and it would fit in the smallest safe deposit box, or you could buy 5.6 tons of copper and keep it where you normally park your car in your garage.

Like Aslanmia said, copper is not a precious metal.

 

I hope you're not sending $10,000 worth of silver in a USPS flat rate box

 

Silver (straight) up by $0.75 a few minutes ago. Woo-wee! $50 by Friday!

 

Provident Metals does it all the time. Not to my house of course...

 

heh, they don't send them to my house either... I did just put in an order in there though

 

I think it's going to pop back up to $30, then creep up to around $32 and then crash down to $29 again. It's been doing something similar since this summer, so why would it change now?

 

Of course other people are predicting that it will go to da moon.