Here we go! Silver under $18...

Exciting indeed. We're now at a four year low.

 

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Sorry, but this is completely wrong. The mint can NOT sell below spot, how could they ever? They cannot buy silver any cheaper than any other large purchaser, that is in fact what spot price means. SO, the mint has to buy the silver, make planchets, make dies, strike the coins, and handle and package. I have always hear the price from the mint for ASE monster boxes is around $1 over spot, (maybe a touch more). For AGE, the mint sells them I believe about $5-10 over spot, (again maybe a touch more). To say anyone can sell pure bullion below spot is kind of silly, since spot IS the cheapest wholesale price for pure bullion. Any non-pure silver, like junk silver, can be sold below spot because:

1. Its not being minted today
2. There will be costs associated with smelting. So if the smelter pays 90% of spot, a dealer can sell at 98% of spot and still make a profit.

The reason large dealers can sell at any market price is because the smart ones hedge their bullion positions. They do not care if the market goes up or down, since they are the same either way. All they have to worry about is moving volume.

 

Unless I buy coin at face value, I stopped buying silver when it hit $12.50 an ounce. I am into most of it at the $4.50-$6.00 range.

 

I am going to look around pretty soon. I heard that this is down leg #4, and we'll have one more before the bull reasserts itself. We'll see. I would like to sell, but I guess this is a buying opportunity instead. Okay by me.

 

Anyone else silently crying tears of joy in the corner of their office? I can't be the only one.

Can't wait to go home and order some more.

 

Spot on.

 

Lol, I have to laugh. Now that the huge uber-bulls are not posting here any more, (I wonder what happened to them?), NOW such a sentiment can be stated without getting shouted down. To say that you were HAPPY you can buy pm cheaper would have been viewed as sacrilege on this board a couple of years ago.

Regarding the uber-bulls, come out of hiding. No one is trying to rub your face in anything. No one can predict market swings accurately. MAYBE your long range forecasts will turn out correct. MAYBE we will look back in 5-10 years and see $125-300 silver is the new norm. My disagreements with the uber-bulls was always their CERTAINTY. They were religious in their convictions that there simply was no POSSIBLE future except the one they were predicting. Religious certainty is fine in a church, it simply has no place in investing. So, come on back and discuss pm. I admit I have learned things on this board, points others have made have made me rethink my positions. Come, discuss, learn from the last few years so maybe all of us will benefit in the next 20.

 

I'll most likely be going Saturday morning. Again, I don't expect to spend long if it's like last year's show, but there's always the chance of surprises.

 

You are referring to the Elliot Wave theory I suspect, but it was formulated almost entirely on the stock market, and is more unpredictable when looking at non-stock entries. I would wait much longer before spending on silver, but that is just IMO.

 

They went public today and were bid
up 40% by rationale, astute investors.
Don't talk about that though. Talk about those mad dog stackers foaming at the mouth.

 

. "Come, discuss, learn from the last few years so maybe all of us will benefit in the next 20."- medoraman

Yeah , I hate to admit it, but it was fun at times If one is looking to the best financial investment for the next 20 years, I would invest the money in a good gym, or home exercise equipment, a good scale to chart weight,eye and skin examinations, Blood pressure sphygmomanometer, pedometer and some pets if you don't have them. Use public sponsored health fairs, to screen diseases, etc. If you are under 40, the higher risk factors are drug and alcohol addiction, poor driving habits, rage, psychological problems. If you are in college, most have student medical and psychological services. Your health 20 years from now will be worth far more than any silver or gold you can stack in that time and you can do more to improve and preserve it than anyone else.

 

Who the heck said we thought all equity investors were rational? Good gosh, there has been so much craziness and herd mentality in equity investing than any other field, ESPECIALLY if individual chinese investors get involved nowadays, (not a racist comment, just commenting on the myriad of bubbles coming from that market).

No investment sector is ever immune to irrational thought. "Mad dog stackers", I never said that. But, sir, what would you call those posters who came here and GUARANTEED silver would be $120 in six months? There was absolutely no uncertainty, it HAD TO BE TRUE. That is about as irrational as it gets, at least Alibaba, due to their corner on the second largest market in the world, might reasonably be worth $100 a share long term.

There is irrational investors everywhere, try to not get defensive just because I called out SOME pm investors as being irrational. I am betting I have a bigger "stack" than you do, so I am not saying this as one who does not believe in owning pm.

 

If I'm being defensive, I'm not alone. Your name appears no where in my post.

 

Lol, yeah ok. Your post came three posts after I discussed "whatever happened to the uber-bulls", and I was supposed to think you were not referencing it.

 

I am suppose to make an appointment
with you before I post?

 

"They went public today and were bid
up 40% by rationale, astute investors.
Don't talk about that though. Talk about those mad dog stackers foaming at the mouth. "

Ok, so who were you referring to calling pm investors "mad dog stackers"? To whom or what were you talking about? Or was this just a completely random rant from a defensive psychological phobia?

 

Oh dear. I think he's "calling me out."
What does that mean? Is that like being sent down to the big bad principle's office?

The post can mean whatever your self
aggrandizing ego believes it means. After all it must be all about you if it was three posts later.

 

In August of 2011, I gave my first ANA talk. Go look up what gold and silver were at in August 2011. I'll wait here. My talk title? Why Bullion Investing Now Is Risky. It was only the foolish few who could look at parabolic charts and NOT see the end coming. It was a 100% certain thing, to me at least, that what was coming was not a mere correction, but a reverse in direction. 2011 had EVERY characteristic of a classic asset bubble. Go ask David Lisot. I called the market top, to the week.

So the next time you call somebody ELSE self-aggrandizing, I strongly recommend you keep THIS post in mind. Are we clear?

And to the Keynes critics here, how do you explain how this lowly Keynesian was spot on, and all the Monetarists were so off base?

I'll tell you why. Because printing even large amounts of money is NOT inflationary, even a tiny little bit, in an economy THAT underemployed. It's not about money, and it never has been in history, it's about INCOMES!

 

Wow, I hope you didn't dislocate you shoulder patting yourself on the back.

 

I'm still here, I'm still buying, selling and stacking...it's who I am and what I do...I also sell regularly and trade and whatever else I can come up with to improve my position and lower my costs per ounce...