New York Spot Silver $30 Today 12-06-2010

also the pattern shown on the chart from 2007 to mid 2010 is called a "cup and handle" formation.

See this reference ...
http://www.forexbrace.com/content/view/108/75/

This is an EXTREMELY BULLISH pattern and usually predicts an explosive upward move.

 

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It's interesting but the chart i posted above also shows the previous cup and handle formation and the exposive move that occured from 2005 to 2007

In early 2006 silver hit $15 ... then fell to $9

So the delta was $6

When silver moved above $15 in the move upwards in late 2007
technical analysis predicts the move will top out at
the old high $15 + the delta of the previous pullback ($6) = $21

Look how when silver hit $21 in that move in 2008 ...
(which was the predicted high from technical analysis)
that was the short term sell point of that move.

You can look at old charts of almost anything to get a feel for how often this technique works.

 

when it breaks $30.00. then maybe we have to say goodbye to $20's for several months.

 

It has hit http://www.kitco.com/market/

 

Fantastic news!

 

The way junk silver sold yesterday at an auction I attended I feel silver will close above $30, if not today in the near future.

 

And the close .....

 

$30.11 as of 5:21pm CST

 

IMO: Don't take less than 20 times. In fact I would just wait.....44$ silver is just around the mountain.

 

I value your opinion greatly sunflower and I thank you. I think I'm just going to cash it in within the next few days. I'm going thru my collection as we speak. While you could be correct you could also be wrong. I think at 30 I can let some of my silver go and be comfortable with it, no regrets.

 

good call, most of mine have been too conservative. which is a good thing for folks holding bullion.

rono

 

the rising silver is making it difficult to further my Morgan collection...

 

As long as you replace it with collectables......(coins that is)....

 

It should hit $35, then bounce back & forth between $30-$35.
My guess, anyway.

 

Selling silver coins

I can get following dollars for silver coins. Are these good prices? If not, where do I go to get better prices?

dimes 1.60
war nickels 1.00
quarters 4.00
halves 8.00
clad halves 3.00
dollare 20.00
eagles 24.00

Thanks
Geod

 

My 2 cents

If Silver holds at $20-30.00+ dollars after January thur February 2011.
there no going back $5.00 oz silver

 

Personally I think those prices are too low, but it depends on the market in your area and how badly you want to sell. If it were me and that was the only option to sell, I would keep them. Mine are going for 20 x face for 90% and spot plus $2 for nice looking eagles (this is selling to another collector, selling at a shop will be less). If spot starts climbing again, people will pay closer to spot, but as it falls they want to give themselves some additional leeway for falling prices.

 

Thanks for the feedback Goldmember
Can you provide examples of where can I bring my silver. I live in New Jersey.

 

I would just call around to area coin dealers to see what they are offering. I found one in my area that was paying 20 x face last week so I sold some of what I have. You could also sell it on ebay (but the fees will take about 10-15%) or on Craigslist. You need to take obvious safeguards if selling on Craigslist. If you go that route and are not experienced at selling through there, let us know and you will get a whole list of things to do to keep yourself safe. You might also wait for the market to start climbing again as you will get better prices on the way up than you will on the way down.

 

Geod pm sent