Back to the value of silver. It jumped a buck from AM to PM today! Maybe we are bouncing off of the bottom.
I don't think they will get their wish, but I could be wrong. Interest in silver coins picked up a lot this weekend. Unfortunately there was nothing to buy anywhere nearby.
Quite a bit to buy today at the local show, but premiums still on the high side. I bought a half ounce turtle for my son is all. I bought a 1907d eagle Saturday for $10 over melt from a local dealer.
I got a Prospector for $23, when spot was at $15.50, so I guess that's the going price. Even common silver dollars are going for $25 still. I sold some at around $29, retail, which is cheap compared to what they are going for some places. The spot on them is only around $12.49 right now, so they are going for about twice melt. They have some numismatic value so maybe that's what's happening.
I don't believe pm investors had much expectations for the gold referendum in the first place. Asian markets were factoring out something that was never there. Hope the short slices didn't get burned too badly. Heeeehheeeeehheeeehhe
Somebody must have caught that $2 rise between Sunday morning and Monday afternoon. That's over 15% in one day!
Silver might not be the best investment in terms of return, but silver jewelry for example can hold invaluable sentimental value which goes along those lines Miko W is arguing with owning it, because he likes it, and there is nothing wrong with that. And if you are not emotionally attached you can always sell it for cash.
It's not that silver will never be valueble, it's that people bought silver for the wrong reasons. Reasons why people bought silver -going to $500 -dollar/economic collapse -China is buying it - the world will run out of silver - to hedge against hyper inflation Non of these assumptiond are true. Are there good times to buy silver ? Yes. Do you have to time the market to make money? Yes How can you find out when's a good time to buy silver ? Spread sheets tracking nominal price of silver. Historic trends. Linear correlation models, etc. Silver is not going to $5 as you mentioned. However it can go lower. If I can get silver under $10 I'm a buyer. I Recomend others do their homework before investing in metals. My post is not a buy/sell recommendation by any means. Just my opinion
I started buying at $4 an ounce, and I guess I might quit buying until it hits $4 again! Silver seems to track the price of oil, which is falling. A silver quarter seems to be a pretty accurate cost for a gallon of gas. Back when I was young a silver quarter would get you a gallon, and the value of a silver quarter is around $2.83 right now, which is a little more than a gallon of gas. When gas was worth around $4 a gallon so was a quarter.
Silver quarter this evening: $3.31. Gas at our end of town this evening: $2.12. Gas an hour or two north of here, next state up: $1.80. Funny thing: prices for different commodities sometimes run in different directions. Sometimes they even vary from place to place.
gas was down to $1.60 a couple days ago here in Missouri! (now its $1.76 though) my car holds 10 gallons of gas, which costs $17.60, so that's equal to only about $1.35 face value in silver coins for a full tank!