Holy Cow! Silver up to $28.48 overnight

Sure has been!

How did you do at that coin show? Pick up any eagles as planned?

 

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Down close to 10% from the intraday high at this point. Guess everyone's voting with their feet to express their newfound faith in fiat money, eh...?

 

I guess I'll agree with the sentiment that we can keep all of the silver price comments in one thread. That would be better than starting a new one with every jump. Comments can be continuous in that way.

By the way, silver is down to $27.34 as of 3:15 today...

 

$26.78 now at 4:04 pm

 

Silver has bounced back a little and is now trading at $26.85 at 4:24 EST

What a wild ride today.

Silver crested over $29.30 just a little over 4 hours ago.

 

now that was a fantastic prediction ...
but I had no idea both of these price targets would come into view in the same day!

​

 

Everyone seems to feel that the Feds have the largest stockpile of gold, but who has the largest stockpile of silver in the US? Is it still the US Strategic Reserve?

 

The Hunt brothers???? hahaha!!

 

Probably the Hunt's lawyer

 

I think I fared ok at the show. I picked up 21 2010 ASE's for $29 each. In case you are curious why I got 21 is because I want a full roll and 1 to put into my ASE album.

 

Here is my comment from one of the other numerous posts about the price of silver today. It looks to me like others thought the same as me and tried to beat everyone else to the sell, which caused a landslide of selling. I predict that it will approach $30 but not cross it for a while as others will try to sell when it gets close. We will see the gains and big slides for a while now. I still plan to sell if it crosses $30, maybe before if I can. My gut is $32-$33 range by Jan or Feb and then hold for a while, but I think it will take a while (relatively speaking after the last few weeks) to get there. No facts, quotes, or research to back that up by the way.

 

Congrats! 21... the more the merrier. Enjoy.

 

Schaeffer's post close email said

Also there was renewed European financial problems.

Maybe a lot of silver priced in USD$ or SLV shares priced in USD was being held in China, and when the downgrade came, many dumped their position. Just speculation.

 

I take full responsibility for silver's drop today.

I bought 5 rolls of mixed morgan/peace, at $22/coin, which was .50 UNDER SPOT at the time, and as usual I timed the peak perfect. I bought right when the spot price hit $29/oz.

No sooner had I walked out of the coin shop, than silver started its pullback, no doubt it'll drop to below $20/oz now...you all can thank me!

The good news is: I still paid $700 less than what the guys on Coin Vault were selling 5 rolls for yesterday...if that can be considered good news.

 

Bandwagons are fun but I would not be jumping on this one.It is wall street doing most of the buying and when profit targets are reached expect a free-fall with their clients holding the bag.Reminds me of another recent bubble in which the gullible got burned.

 

Man , I just completed my Peace dollar set, now I want to sell some silver, but I didn't buy enough when it was low. Luckily, my collection is highly disorganized, and I can probably find some to sell somewhere.