I really think 2011, at least the first quarter, will see some pretty high values for silver and gold. Until the economy straightens out PM's will stay way up. I'd rather think silver probably has a lot of room to hit upwards of $40/ounce. The $40 mark might be where I'd consider selling but who knows. I bought a lot of silver early in 2010 and glad I did since I paid barely $20/ounce at my local coin dealers shop. He doesn't have huge mark up's over spot price for bullion eagle's or bullion in general. I also bought a lot of 1964 Kennedy's early in the year off the 'bay and paid some spot/below spot prices for them now they are worth $3-5 more than what I paid. Any other thoughts on this?
I've got a poll going http://www.cointalk.com/t143893/ If it gets close to $40 then we can do another one.
This is horrible news for coin collectors. Instead of paying $3 for a hunk of junk barber quarter its now (??????). Makes me wish I have never started a couple collections. I guess the beadie eyed folks are happy as hell
I bought 100 Barber Halfs in Good+ condition for $1,195 last month. I think just the silver in those is worth well over $1,000 ... so a paid a little bit more than melt for 100 year old coins (4 designs back in time). I was happy with that.
Never been able to figure out why any "collectors" would want metal prices to rise. Seems that would just add to the cost of the hobby, not the enjoyment of it. Must be more investors these days than collectors. Guy
the profits i make buying bullion actually funds my money-losing hobby of buying rare coins since 1968 ... i have made about $30,000 in gains in bullion while losing about $5,000 in buying rare coins so basically i collect rare coins for free ... while making money from bullion gains what i really like is when i can combine my coin collecting itch with bullion buying (like i did on the barber half purchase outlined above). I also bought some rolls of UNC Morgans and Peace dollars on the cheap earlier this year. And have enjoyed "collecting" ASE's, esp. the lower mintage coins from the mid 1990s, even though they are technically a bullion coin.
That makes sense. My problem is I have a hard time letting go of any coins, so I'd never realize a profit on bullion to buy others. But, I do basically the same with other investments.
Sorry to be negative, but it bounced right off $30. @ 4PM it was right at $28.75 and dropping like a rock. Wonder what happened?
Large number of SLV puts overwhelmed buyers. You notice on the SLV daily chart there was a resistance at 29 and then the last at 28. I noticed that the pre-market on Silver had gone from over 30+ to the 29 range by open,and had a bad feeling, so I sold all SLV calls for Jan , Feb, Mar before 7:30 and got good results. Then when it went more than a dollar down, I bought all back, but cheaper and months farther out as the economy most likely won't change before Mar for the better. Got lucky if Silver goes back to 30 by Feb/Mar, made a mistake if it doesn't. or Jim
nothing goes straight up! Silver is up nearly 70% in the past few months a pullback is normal and to be expected remember we had another pull back last month Silver hit $29.50 and pulled back to around $25 (a drop of nearly $4.50 two weeks) If you like silver, buy it for the long terms and forget about all these short term gyrations ... they will drive you crazy!
yes, i think silver was around $9 (perhaps a bit less) in the Fall of 2008 ... about 2 years ago ... amazing since then it's more than tripled
