what was minimum wage back at the big silver spike over minimum wage now? if the dollar was equal now to the dollar then what would what would the jump really look like?
If the dollar was what it is....silver would still be used in money...and there wouldn't be a jump....people get jumpy when they see silver because they think....Oh...Grandpa use to talk about the old days when silver was used...it must be pretty rare.....they don't use it any more so it must be worth lots. Sure its worth money...but the TV guys can make it sound like the market isn't ever going to come down...and it will....I'm almost sure I'll see the day it does. Speedy
Speedy, I'll make another "fearless forecast" for you. Prices will continue to rise throughout your lifetime because of the inexorable inflationary policies of the Federal Reserve and Federal Government. This will include gold and silver coins. The depreciating fiat US dollar is one of the most fundamental truths in economics. And understand this for what it really means -- the dollar is depreciating in value every day. Everything doesn't go up in price every day, or even every year. But the view that things like the price of silver are cyclical and that price levels will repeat forever is just flat out wrong [or at least unlikely since everything is based on probabilities ]. There is supposed to be a cycle between paper and physical asset bull markets that lasts about 18 years. The paper cycle is over and the physical cycle is in the early stages. I can't say whether this theory is true, but metal prices are going up and seem likely to continue up for years. Unless you've been through it before, it's almost impossible to believe or understand how powerful the upward move in metal prices can be. Now, this will be carried too far eventually. In the 70's silver went from $1 and change to $50 and fell back to $5. Maybe this time it will go from $5 and change to $200 and fall back to $25. Nobody knows. Just don't assume that what's happened for the last 20 years represents the outer bands of some range of prices that won't be exceeded during your lifetime. Look at coin prices in 1970 compared to 2005, and you will glimpse the potential for change in coin prices now and in 2040. Don't miss out on this opportunity. ...now climbing down from the soapbox.
It is common sence to take a profit on a portion of your investment as it goes up. Selling into strength is good sense. I am not saying run out and sell it all, and I will not sell in single digits but we may be close to time to take a little profit.
And I go for the unlikely..... I'm not missing out...I have silver....but I'm also not going to hoard just because someone tells me too....it has to be my pick as with any collection. Speedy
To each his or her own. Personally the silver I own is also tied up in semi-choice coinage. Yes, I have a few bullion coins (less than 100) and it does get tempting. Most of the people I know (myself included ) are very small, but none-the-less Silver Barons who check the value every day. Such is the life of a small or large investor. And, the volume of the (Ag) owned certainly isn't a barometer as too the value of the advice one may receive from one of these micro-Barons. My advice. If you value your collection, learn everything about it you can, including the silver content of various coins you own. There may come a day when the sell outweighs the hold.
Certainly! At the same time, I would not pass up an opportunity just because someone recommended it. In other words, suppose you read an article about "The Leaping Lizard Liards of Louis XIX (Littleberries)." Would you say, "I'll never collect them because someone else wrote about them?" No. You would look at the pictures, read the history, and if it resonates with you, you will act on your interest. Silver was at $8 per ounce last year at this time. Silver is a commodity more like cocoa than it is like gold. That said, we can grow more cocoa. While gold is money and silver is something else -- and cacao beans have been money, as well -- the fact remains that there is a strong historic understanding of silver as money. I keep a couple of common Morgans and a couple of silver art bars in my travel kit. You get out of the City, out into the country, down South, out West, and a big silver coin will get you more respect and cooperation than a credit card or a $100 bill.
I am also not HUGE into silver but probably have a bit more than you stated, I will probably sell off a roll here and there as prices climb and I won't feel bad about it if the price skyrockets because I made a fair profit.
Silver is one of the most volitile things you can buy. That makes it pretty pointless to track the price as has been done in this thread. I'm more interested in the potential price in 2010 than 2005. Also, I would not classify silver as an investment in the sense that common stocks or bonds are an investment. Silver is more like owning a sound foreign currency to provide long term diversification against a depreciating dollar. I also sincerely doubt that very many people have a cost basis of $8.35 or more if they have been collecting silver over the past few years. I purchased 3 silver eagles last week for $5 each, one in an airtite! If you hunt through antique shops and other places that don't track the hourly price of silver, remarkably, there are still some bargains out there. But I don't expect this to last much longer.
