Silver Will Not Top $20 Again Homies

We need some music.

 

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Where's Homie?

 

Up $0.42 today already... ... ... R*A*L*L*Y!! Woot!!

 

Now what Mr. Mathers?

 

Kitco is quoting $20.22 @ 10:04am "eye-ooooh, werewolves of London...."

 

Mr.Mathers=

 

With silver at $20, what will dealers offer for US coin silver on average? How many times face value? I don't know this stuff. Just trying to get a rough idea.

 

Here is his OP...I hope he comes back to visit and defend this

"In the short term at least. There simply is no reason to have silver right now. If precious metals are declining or even staying the same it would be smarter to invest in other things. I expect silver to level off at 10-15 dollas in the next year or so and slowly rise to 20-25 dollars in the long term (20-30 years). What do you think home skillets? I can't see silver going above $20 anytime soon maybe in ten years..."

 

Glad I listened to slim and sold all my silver.

 

Spot is at 14.7 times face value righ now with silver at $20.32 (9:59am 6/19/2014). My guy is selling at about 16x facevalue right now, but I would imagine most dealers are a slight bit more with having the overhead of a storefront.

 

It's the hat, I knew he should have worn the snuggie I left out for him...

 

The junk premiums have been high ever since Ag dropped into the mid twenties. I've seen 10-15% since then. Days of 2% over look to be a ways out still.

 

True, that was ask based breaching I posted. Still, if you were buying from JMBullion around that time, you would have paid based on ask. They and many dealers beside price on this metric in nearly real time.

 

So glad Slim Shady was wrong on this one...
I also got to text my brother and show him how much he could've made if he had listened to me when silver hit $18. Now he's going to be one of the zombies that buys into something after a steep incline.

 

Oopsie-daisy!

$20.33 and climbing, well this was an amusing thread.

 

His prediction did last for nearly two months. If you have a short attention span, that might qualify as "short term".

 

I consider myself to be above water when I can turn around and sell what I bought back to my dealer for a gain. Let's just say that has been very rare in the last few years. The 10% premium puts you in the hole for a while. Of course, you could be buying privately at near spot and then you may be ahead of the game immediately.

 

Your brother didn't buy any SAEs in 2011 did he? ......................like me

 

He's actually been looking at buying some land in an area that should have record growth, so I can't hate on him too much

 

I kick myself in the butt for some of the land opportunities I've missed out on.

There's acreage nearby that I could have bought for $1,000/acre before a freeway offramp was announced, or $5,000/acre after it was announced in 1992 or so, that sells for over $1 million/acre now. I was considering it at $5,000/acre, but I just couldn't stomach that someone would be milking me for a $4,000 mark up.

Hindsight is 20/20...