Here we go! Silver under $18...

I am baffled. The stackers must have run outta powder or guts. I thought for sure the shelves would get wiped clean when $18 was breached. As of a few minutes ago, APMEX wasn't out of anything. Didn't see any shortages at SD either.

 

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It just gets sadder, and sadder.

 

Now is the time to buy silver folks!

 

To most 'stackers' on the forum ( there are some exceptions) the phrase "backing up truck" means around 5 ounces realistically, and there is plenty of action as some are of the impression that it will not recover soon. The one thing the $40 price a few years ago did was to reduce the use of silver in industry other than the inexpensive jewelry trade. Commercial Solar panels use to use a few ounces each, but the price then made the makers find cheaper substitutes which have worked well, etc. I suspect we will see more selling and reduction in holdings until after the end of the year.

 

I'm curious - a what point do true believers get the message that a more or less straight line fall from $48 to under $18 over 3 years just might NOT be a "buying opportunity", but instead a full flowered bear market? Jus' sayin'. Denial ain't just a river in Egypt.

 

It is starting to get my attention a little. BGASC coins right now has a monster box for $10,200........

 

The cheaper the better, I say. I'd be thrilled with $.99 silver.

 

buy, buy, buy!!!

 

No doubt. It always depends on your path in life. I still have 20 years until retirement, bring the prices down and down further!

 

I as well, however the premiums would be pretty hefty if you could ever find a seller for that price.

 

I just started buying silver last year, so my price range is $19.98 to $22.45 direct from the mint.
I have about 400 ounces. My thought is either the price goes up at some point in the next 30 years or my young daughter will inherit some very heavy boxes full of who knows what it's worth silver.

I'm happy to buy each month below $20, honestly would not care if it goes to $15, $10, or even $5, just means by monthly budget goes further.

I'd rather buy 4 ounces of silver than one share of Alibaba which topped out this am at $99.70

Any Kurt, yes this is a full blow bull market happy to say. But the key lesson is buy low, sell high. I'm just glad there is a full blow bull market in trillion dollar notes from Zimbabwe and that I was lucky to buy when nobody else was interested and prices were much lower.

Roll on the silver bear market, a few more years of it I would be very happy.

 

Mints will stop producing silver coins at some price, I just wonder what that price is. I have no clue. How much does it cost to mine or recycle an ounce of silver these days ?

 

Silver is hard. Most of it is produced as a byproduct of other mining, (tin, copper, or gold), so it depends on how the accountants choose to spread common costs. For pure silver mines, I am betting they are below fully costed price right now, but still slightly above variable costs.

 

Thanks medoraman. I also wonder how much it costs for the US, Canadian mint for example to design, produce and sell coins.
I have no friggin clue how sellers like MCM and Apmex could possibly be making money with falling silver prices, when they do things like free shipping. It's a pure mystery to me.

 

Please tell me you don't buy coins from alibaba

 

They can purchase directly from the mint and the mint can sell below melt. I don't know what the exact figure is but the mint sells monster boxes of AGE for 20 cents over spot. if that gives you an idea.

 

I've never bought anything from Alibaba, tend to avoid Chinese sellers, especially on Ebay.

 

Yeah, it was a bit of a surprise to see $17.85 when I checked just now. Wonder if the dealers at the local show this weekend will be dropping their prices accordingly, raising their premiums (by keeping their prices steady), or just deciding not to sell at all...

I usually go to the local show to sell, but I might have to pick up a bit of silver this time around. OTOH, I'd probably still do better buying on eBay.

 

Going to the Raleigh show ? I'm planning on going Sunday.