Next step silver - over $20.00

How do you store your silver and what kind of bars are they? Do you monitor or even know the humidity levels where you store you silver, even if you keep them in a SDB at a bank? Some banks monitor atmospheric conditions and others may not. You can ask the bank. Are you using any sort of humidity control products like silica packets or Eva-dry near your metals?

"Art bars": I would ask CT member 1970 Silver Art his thoughts about cleaning them. I personally would not clean silver art bars as they do carry some various collector premiums. Anything that is purely an investment bullion bar, unless a really old antique ingot (which could carry a collector premium), I would say you should consider cleaning with a mild and non-abrasive silver cleaner.

Something that works well on silver coins for cleaning off tone that should also work very well on bars is MS-70 cleaner. (Please note: I do not recommend cleaning coins, and I do not recommend cleaning ASEs unless they are covered in PVC contamination or verdigris sets in. At some point in the future I believe bullion ASEs will attain a collectible numismatic premium when silver eagles are no longer produced.) Also, you can search online for do-it-yourself-at-home methods for cleaning silver. (Again, know what you are doing, take precautions for safety and ventilation if using cleaners, and DO NOT clean coins or collectibles.)

 

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I do not think that the price will change with silver toning (tarnish). When it comes to pure bullion such as JM or Engelhard silver bars, then they will sell for its silver value regardless of if there is toning or not. However, there are some people who collect certain silver bullion that like toning and will pay more for a toned silver bar on ebay than for a "bright and shiny" silver bar.

For example, silver art bars that sell on ebay MIGHT have more bids (and maybe a higher winning bid) if it was toned but that is not always the case. Sometimes toning will not make any difference at all for some of these silver art bars that sell on ebay. I think that when it comes to silver art bars especially old '70's silver art bars, then "rarity" values will play a more important role than toning when it comes to the large premiums that some of them will fetch on ebay. I prefer silver art bars that are "bright and shiny" but also have silver art bars that are toned. There are certain silver art bars that I just love regardless if they are toned or not.

When it comes to certain silver art bars that I like and that are still "bright and shiny", then I will use airtites. Some of my best ones I put in a Dansco Album if I am trying to complete a set of certain silver art bars. Some of them that I like but still have a little bit of toning on the edges I might put in air-tites or in a Dansco Album. I know that Dansco albums are not the same as air-tites but I like to keep certain ones in a Dansco album and certain others in air-tites. Most of my silver art bars that I bought are in those plastic flaps that are hard (and somewhat brittle) plastic flaps. There are also quite a few silver art bars that I have that are not in air-tites, plastic flaps, or in a Dansco album but they either already had a lot of toning on them when I bought them or I just did not bother getting around in putting them in those plastic flaps.

Since I am technically not a U.S. coin collector and I might be wrong on this but when it comes to numismatic silver (i.e. certified Morgan dollars and "raw" Morgan dollars), then toning will play a much bigger difference in terms of how much a silver coin will sell for on ebay as opposed to one that is "bright and shiny".

As for gold, it does not tarnish as far as I know.

 

CURRENTLY: In ASIAN/EU/UK markets for Monday 7/12/2010...

GOLD: $1,210.50
Silver: $18.13
Platinum: $1532
Palladium: $463

US market opening in about six and a half hours...

 

This lateral movement of PM's will end soon enough. I'm guessing that mid Sept we'll all be wishing we bought more than we did.

I guess that makes this a 1 year thread??? (only if my hunch is correct, and I'll opine the same for gold)

 

A 'one-year thread' with silver price increasing from approx. $17/oz. back in Sept. '09 to $20/oz. by Sept. '10, would fit nicely into Elaine's +20%/year PM price increase for the next 14 years straight, which she speculated about recently. One year or 14, she may be off on the right foot but that's a hellova run to keep up... only Elaine has the funding to keep that kind of growth afloat.

CURRENTLY: In EU/UK markets...

GOLD: $1,203.90
Silver: $17.99
Platinum: $1518
Palladium: $453

US market opening in about 25 minutes...

 

CURRENTLY: After the US market opening...

GOLD: $1,205.10
Silver: $17.99
Platinum: $1527
Palladium: $460

​

 

CURRENTLY:
GOLD: $1,206.60
Silver: $18.07
Platinum: $1530
Palladium: $459

 

CURRENTLY:

GOLD: $1,206
Silver: $18.02
Platinum: $1528
Palladium: $460

 

silver high - $18.36 per ounce.

 

Silver has dropped about 50 cents today to under $18. Any buyers? Where are Krispy and Elaine? On vacation or a honeymoon perhaps? :smile :goofer: :smile TC

 

do not disturb. we are close.

 

I think they might have gone somewhere to see.............a marriage counselor????? :smile:goofer:

 

Very very disappointing, and I had my silver all ready to go to sell too when it was higher 1-2 days ago!!!

 

Now may be the time to buy. Watch the inventories of the online sellers get depleted over the weekend. TC

 

They're starting to deplete already. I think I'm still going to hold off on a major move, and just buy a little as a cover strategy. I want to make a more major jump, but think it's not at the bottom, yet.

 

yeah i would hold off for a bit. i think you are going to see even more of a movement downward a bit in the market. it could go lower but not sure how long but for now i think you are right it hasn't reached a bottom yet.

of course i haven't seen the longer term charts to compare so not sure if there is a resistance point. i think people are jumping the shark if they are buying a lot now.

 

I tend to agree with both of you that we may not have reached the low point yet. However, I worry about availability of certain products if the spot price goes lower. Back in 2008, when silver dropped dramatically, there was significant depletion of inventory among the major online sellers. TC

 

ummmm, maybe I ask who you plan to sell the silver to? I have this question particularly regarding small amount of sale, such as a few ASEs. For me the profit margin is so low that it would only make sense to deal locally to avoid the shipping fees.

 

Yeah and also back in 2008 if there was and 1-oz silver to be had at a local coin dealer, then it was selling for an avg. of $5-$6 over spot when spot was at $9.

 

I don't think that is was as much a depletion of inventory, but rather, a reluctance to sell that inventory. Lots of those guys bought high thinking the product was going to skyrocket and when in fact it went the other way they refused to sell.