$35+ an ounce! $50+ soon??

Absolutely. The coins I consider part of my "collection" aren't for sale at any imaginable price. Some other coins that are purely bullion with no other redeeming value will probably be sold at some point.

 

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When silver drops to $7 or $9 (tops!) I will be buying big. Silver is in a massive, artificially induced bubble right now and that bubble is waiting to pop and until it pops I will not be buying a thing and will be laying low.

 

Don't forget the unforseen. You know not what a day may bring forth.

 

Continue to dream, "That will not happen", but you can dream; it's legal--- I think.

 

There is very little chance that you will be buying silver at single digit prices. There is no bubble. What shred of evidence you you see for a bubble? Because the price is up? Almost everything is priced higher than it was 30 years ago. And there is no going back. You might as well tell yourself, "As soon as Mercedes drops the price of their cars to $5,000, I will buy one. Until then I'll lay low."

Good luck.

 

I second that.

 

50 years ago an ounce of silver would buy 10 gallons of gas, 15 years ago an ounce of silver would buy 10 gallons of gas and today it's the same. Gas isn't going back to a dollar a gallon so I doubt silver will drop below $10 again. Investing is a risk you either take and win or lose. It seems to me that silver keeps it's buying power so take a risk and invest or wait for something that isn't likely to happen.

 

I was buying silver 15 years ago, trust me an ounce of silver would NOT buy 10 gallons of gas. More like 3.

You are correct commodities hold roughly equivalent purchasing power, USUALLY. There are always possibilities of specific market changes. I just wished to point out that the relationship you were pointing out specifically was simply not true. It was not true from about 1990-2002, maybe longer. I bought my silver 1992-1997 primarily so am very familiar with those markets.

Just to point out also that didn't silver drop to less than $10 an ounce just a couple of years ago? Not saying its probably, but its definitely not impossible. Myself, I think below $20 would be a buy, so I am not holding my breath for sub $10 silver.

Chris

 

I had planned to trade some Silver at a coin show yesterday. A dealer there was buying at 23x and selling at 25x. I counted out $80 inface and my son talked me out of the trade. I wanted to get some Washingtons to swap for my duplicates. But my son pointed out that looking at the bags, the coins I was buying were pretty beat up in comparison to what I was selling.

Who knows ? The price may crash tomorrow, but with the Asian market opened to private investors who can purchase and take possession over the internet, the paper value of silver may not fully reflect the price of coins. I mean you can get a bit over melt right now, and maybe in a few months, a whole lot over melt ?

gary

 

I have a super hard time selling any of my coins. When I do, I always seem to regret it later.

I really wish I had all my silver back. LOL

gary

 

We can not see otherwise, and you have displayed the correct summation of the present, as well as the past. I really cannot believe that someone thinks that silver will return to $5.00 an ounce, incredible.

 

You're technicall right about 15 years ago and gas isn't a good gauge for its value and I can remember gas hitting 1 dollar a gallon once when Clinton was in office. I guess the point I was trying to make is that the buying power that silver or gold have seems to keep with inflation. If you bought gold at $900 a few years ago, you could say wow look at the profit I made, but can it really buy any more now than it could when it was $900? Maybe I'm wrong

 

No sir, you are not incorrect, and I agree that 15 years ago may have been an unusual case. I was simply pointing it out so everyone here has a realistic view of the past.

Your overall point is valid historically, and is usually the case. PM is a conveniently storable commodity, and as such protects purchasing value usually.

 

Another Wall Street firm went bankrupt today with some big players losing a lot of money. I don't see any bailouts coming anytime soon for anyone, and it looks like the house of cards may fall again, only this time their will be no taxpayer safety net, so this could be the trigger for a major rise in PM's as people look for something with real value. I hope the amount of uninformed investors losing their life savings this time around, has been kept to a minimum.

 

Great news! If you would have bought 1000 ounces of silver a couple weeks ago when the price was around $30 and sold it friday when it was trading around $35, you would have made out $4k-5k! And the best part is you didn't have to wait for the so-called bubble to burst. It's all a matter of "waiting" for it to happen or just plain going out and "making" it happen. Without resorting to excuses as to why now is not a good time to buy silver. Somehow there's always money to be made.

 

Even my best is junk.

 

Yep and it was one of the primary dealers for the Federal Reserve too.

 

I been following this story all day and finally looked up the term "ponzi scheme" and this story meets all the criteria. The fact it was allowed to happen on Wall Street and not some backstreet makes it even worse.

 

I'll just leave this here.....

 

Yeah, and what if silver went down $5 instead of up, I would have been looking at a $4K-5K loss! You can go broke dealing with precious metals in a hot minute and none of you seem to see silver for what it is, a bubble that is going to pop anytime now. It may not be until next month or 5 months from now but I assure you all, it is going to blow. When it does you will all be saying "Gee, I should have listened to NOS as now silver is at $9 when I bought at $35 and now I'm screwed." Enjoy eating Top Raman or digging pizza out of a dumpster for your dinner, guys.