“New Report Shows Silver Prices to Soar Past the Moon”

I use silver as a form of savings as I would probably spend it on other frivolous things if not. The plus is that if it goes up it will pay me more than any savings account would and it is very liquid.

 

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'galapac' and I share the same ideas about silver....a highly liquid forced savings with an outside chance of doing better in the long run...otherwise I will spend the cash on one thing or another...like coins LOL

 

I need to call my guy Bud Fox and get in on some of that price trade action. Don't forget, "Blue Horseshoe loves Anacott Steel."

 

Probably about $70 when counting for inflation.

 

Not as liquid as cash, can't go into a store and buy grocery with a gold bar. Not outside of a mom and pop's store.

 

True, but it can easily be converted into cash when needed.

 

Back up the truck, it's going to the moon. Sprock says $800/oz. would be fair but $500 may be more realistic. You can start your journey on the road to riches by tuning in to Art and Coin TV. If you watch for 30 minutes you are guaranteed to see lots of charts and pictures while "the guy on the channel right below" gets berated as the "flim flam chart man".

 

lol

 

Actually, $49.45 was the top per ounce price of something called a "good delivery bar", not for silver per se. These bars were approx. 1000 oz from one of three or four refiners that the Chicago Board of Trade designated as acceptable for delivery in satisfaction of a short contract. No other silver could satisfy your legal obligation, not even US coins. One major refiner was on strike, the other major stopped refining other people's silver and only refined its own - because it could buy junk silver (including 900 fine coins) for about $35 per oz or less, refine them at minimal cost, and get much more selling (and then delivering) on the exchange. I was there; I know that I could never even get $35 per oz for my junk silver, and that the dealers would always have gladly sold junk silver to me for that amount. It was a shortage of good delivery bars, not of silver itself, that drove the price up.

 

Very interesting, but it was still a price quoted for silver. I mean, we all know that different types or forms of silver demand different premiums and thus different prices. It is not what is of relevance here. It is about the highest price ($49.95) officially achieved and not about who had the privilege to sell or buy at that price nor the form of silver involved. In addition, it should be mentioned that the price of silver went over $50 at marketplaces such as eBay in 2011 and it was not for "good delivery bars". Furthermore, what stopped refineries from melting down and refining junk and other forms of silver into "good delivery bars"? Nothing.

 

Quite different requirements and only a few can deliver them.
http://en.wikipedia.org/wiki/Good_Delivery

 

The price was actually betwen $50 and $51 for a while. The $47 price two years ago almost "eclipsed" it in terms of being near the moon.

 

Don't forget cost to carry and insurance.
Coin investing = high load + high internal fees + surrender penalty

If coins were regulated by the SEC, all dealers would be in jail.

Umm, no. Silver never hit $50. That has been the hard ceiling. Now, the problem is that it was the ceiling in the 80s and in the 2010s. 30 years of inflation and still the same hard cap doesn't bode well for any type of "investment."

 

You're right. It is certainly not the best investment, that is way I choose to see it as insurance.

 

Interesting story about the Nelson Bunker Hunt escapade. I remember silver rising so quickly, that you could make a small fortune just going into a retail store, buying up all their sterling silver such as the table setting items at the listed retail prices, and taking it to resell at a nice profit, because the retail stores had not adjusted their prices on the items.

Of course I found out about this money making angle after it was all over and the stores were cleaned out, which is one reason I'm working for a living rather than being a rich commodities trader.

 

Comex and CBOT went over $50 intraday but the London Fix never went over $49.45.

 

There a buyer on the moon?

 

The truck is being backed up as we speak. I am thinking about buying a couple of tons to freshen up my safe deposit box.

 

Larry,

If you're talking 90%, the price of silver would have been around $4.15/oz.