Next step silver - over $20.00

Currently:

GOLD @ $1,079.60/oz.
SILVER @ $15.58/oz

 

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I don't live in NYC, I live north of the city about 30-40 miles up. It's not upstate the least, but NYC folks always seem to think it is.

Anyways, in my county, there's about 2 maybe 3 dealers and they are mainly jewelry dealers that happens to sell coins at WAY over spot price, it's not even worth checking out.

I have yet to find a really good coin dealer around my area that knows their coins.

 

LOL! Yeah, anything outside the 5 boros within the State of NY, is upstate, because, well, the entire rest of the state is literally UP there. I don't get out into Long Island much, but some CT members have mentioned local shops out there.

 

But I don't consider NYC down south!? It reminds me of a co-worker a long time ago who was kinda eccentric. We were talking about the South, like Georgia, Tennessee etc...

And someone mentioned they were from San Diego. And he was like, "Oh you're from the South too huh?"

So we were all perplexed by his response. I guess technically you can say a california guy from SoCal is from the South? But we had assumed most people who speak about the SOUTH, are from the East coast side...with those SOUTHERN accents...

 

That's what I've found so far, and I'm looking for a coin/bullion dealer in the city with competitive prices. I am going to go poking around the jewelry district again, because there may be small places lurking there. I will post if I find anything.

 

coin stores in NYC [Link to another CT thread]

also: Brooklyn Gallery of Coins, Inc.

 

Thanks!

 

Nope!!

 

Nope what?

 

Gold - silver ratio is 70.79....why silver can't move?. Anyone.

 

Gold currently at $1100 now...


Quite frankly, I'm a little tired of hearing the whole silver and the ratio history with gold story. Silverbugs could most definitely be right down the road which is why I have a decent amount of silver holdings.

But is it me, or does everyone speak the same script regarding silver? Silver will shoot to $50/oz! Silver can possibly be even $120/oz. Silver is undervalued, buy now while it's cheap. Silver has industry demand....

blah blah blah.....

I'm not hating on silver, otherwise I wouldn't have bought any, but I don't know, I just don't want to be hearing the same preach 30 years from now..

 

The gold/silver ratio is nonsense. You could get equally meaningful results by developing a gold/copper ratio or a gold/lumber ratio. The positive outlook for silver is primarily based on the steady decline in above ground inventories over the past 20 years combined with the new uses for the metal. Eventually [nobody can put a date on it], the supply and demand factors will determine the price, and many analysts believe the equilibrium price will be much higher than today. The wildcard is investment demand. Most people [not including CoinTalk types] have no investment in silver or gold. If even a few large institutional investors decide to allocate 5%-10% of their assets to precious metals, the demand will overwhelm the market. Nobody can guarantee that this will happen, but it seems to be a high probability bet. I don't think you will have to wait 30 years for it. Your biggest problem will be to determine when to take profits. Good luck.

 

Same here...

Been buying and hearing the same thing for almost 10 years now...

Next step, get ready, buy it while you can, etc.. etc.....

How about it hold steady @ 17 or 18 for a few before we think its going to 20...

 

Very well thought out response like always. I've stopped paying attention to all the youtube vidz out there. I'll focus my attention on some of the more credible economists, not so much your average joe that's just repeating what he/she heard from another youtube vid!!!

I suppose it's always hard to sell when PM's are on the rise, because what if you can just wait one more day....or one more week for it to keep climbing...

As long as we're all honest with ourselves and happy with the potential profits we should all be ok. Most, like you said, are not even invested in silver or gold.

Wonder if there will be anyone that will try to corner the silver market again?

10 years? But that means you've seen a significant increase in profits then. You must have been buying when silver was at $3-5 bucks right? That's terrific then. I've only been at this for about 5 months now, not even half a year, and I have yet to see silver hit $20. It might have hit that for a day, I don't recall....

My buying range has been in the $15-17 spot area so I'd need silver to go up quite a bit for me to see worthy profits...

 

silver high for the day $16.23/oz.

 

It makes me laugh when I hear Marc Faber (or is it Jim Rogers? I can't tell them apart?) predict the great future for silver because it has yet to reach its "all-time highs of $50 an ounce". You don't get a Hunt brothers every decade. Each time is different.

Since I buy for insurance and as a hedge rather than investment for profit, it's a win-win in my opinion: dollar goes up, gold and silver go down, that's okay because most of us are paid in dollars and our investments are mostly in dollars. But if gold and silver go up, and the dollar goes down, then you have the metals.

But if you're buying at these levels, and you're looking to make an investment profit, you have to be prepared for perhaps holding a while. Silver generally follows gold up, but it's a lot more volatile and spiky. It can sit around doing relatively nothing for a really long time.

 

That's funny that you say that. I get those two guys mixed up all the time too!!! I think Marc Faber is the guy with the stronger accent. I'm not sure Jim Rogers even has an accent.

I think both are very pro-China though? At least from an economical standpoint.

I'm not sure what my thoughts are on them....

 

I don't pay much attention to Faber. However, I pay a lot of attention to Jim Rogers because his public comments seem to mirror his investment portfolio, and he has been very very successful. Silver is a small enough market to be cornered again, but it won't be done by an individual because of the Hunt case. It will more likely happen due to buying by China, Russia, the Saudis or another national entity beyond the control of the courts and CFTC.

 

I think my impression of Faber, and maybe it's because of what I hear about him is he's a little wacky.....I don't really follow any of these guys too much though.

I follow Peter Schiff the most......not really sure why he stands out more than the others, at least to me.....

 

Elaine 1970: I am with you times 2.