...and down she goes!

I think the price of silver is dropping a bit even in the stores. I have been finding some at pretty good prices. It may not last, so I am still buying. Once it hits over $30 again I might not be as enthusiastic about buying.

 

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I am kind of hoping the market tracks around where its at and premiums continue to decline. I wouldn't mind a bag of junk silver or some world gold.

 

Let's face it...if silver hits $30/Oz...you, and every other swing'n D***, will be clammer'n to buy more.

 

...down she goes, and down I go. This drop in prices is stressing. With all this talk of too da moon, and printing presses running amuck, and B.O.B, and the commies in power I thought my 20oz of gold and 100oz of silver would have made me rich by now. Seems as though the banksters have been pulling dirty tricks to keep me down. Funny thing has been going on though - the metals have taken a beating, but my 401K has more than made up for it. So maybe that is why the sage have always said to diversify.

 

Of course we will...it's just something somebody that stacks, likes or collects silver does, buy more....

 

In most cases PMs are an investment. Investment are made for a future financial purpose be it retirement, buying a home, sending a kid to college and etc. Eventually this future purpose becomes the present purpose and the investment is lquidated to realize it - irrespective of the cost basis.

 

No need to be sarcastic. BTW, I made a little today shorting silver in the paper market, so I'm not one-dimensional. Also, it's just a damn metal.

It seems very basic claims that are generally accepted are treated with the utmost skepticism in this forum (such as the danger of a strong currency in today's environment, or that bankers coordinate to fix prices, e.g. LIBOR). I suppose skepticism can be a very good thing, but perhaps it can get excessive at times. I trade currencies, so I will look at silver a little differently than most. And yeah, I suppose the anti-silver bugs have the investment upper-hand at this time with silver's drop, but that doesn't mean every claim made in favor of silver must be dismissed automatically.

 

Defer to whomever you want.
Just 10 years ago annual mined silver production was 600 million ounces while it was trading for $5.00 and less per ounce.
The Silver Institute reports a current cash cost of $8.88 to extract an ounce of silver.
I wouldn't really consider this information internet hearsay but I'll let the others here decide for themselves.

 

There are LOADS of arguments in favor of silver and gold. I would not dismiss any automatically. Maybe its a function of you not being here very long, but most arguments us "pm bears", (I guess I get lumped in that group), dismiss are ones we have thoroughly reviewed, refuted, yet keep getting parroted back by new posters here.

I am actually looking at getting back into buying mode for PM again. Like I said, there are loads of reasons TO invest in pm, they just tend to be boring reasons noone likes to talk about. Its the sensationalistic claims that get hotly debated here.

 

Hey man, these heated discussions remind me of the internet boom. Back in the day those discussions could get very emotional because people's money was tied up in the stocks. So shorts and longs would bash each other. I suspect one reason why anti-silver bugs get emotional is because they have money tied up in stocks, and silver is a hedge to a market crash. So on one camp you have pessimists and on the other you have optimists. It's the same dynamic.

Like I said before, a lot of my money is in numismatic coins so the plunge has not affected me that much. I'm just taking a hit with the bullion I bought, but even then I am OK since a lot of my bullion is premium stuff like Engelhard and J&M. I will take this as a lesson to stick to numismatic silver coins. I am glad I never listened to others who urged me to stick to bullion.

 

I held off buying some on Sunday when the spot market opened with that little flash crash. Waited for spot to break $20... but, didn't happen. Tired of waiting so went online and ordered beautiful 2013 1 oz. Koalas for $26 and change. Next round will try and wait for a $20 re-test and then hold out for $15. If spot marches back to $30, I'll also be less enthusiastic about buying.

 

Earlier people were talking about the cost to mine silver. Well here is an article of costs to mine gold:

http://www.visualcapitalist.com/what-is-the-cost-of-mining-gold

Quite a bit of room on gold at least before mines need to shut their doors.

 

so sad

 

And I'm so happy that I invested in real estate last summer. I had a lot of folks talking about PM's. Why they buy high, I still have no idea. I'm thinking about investing in Europe quite soon.

 

People love the stock market now, so, I decided it time to start selling some stock and moving a portion into falling physical PM.
New to PM and think the physical stuff will make for some good diversification. Not looking to win the game... just to try and diversify when the next financial Tsunami hits.

 

Just as a contrarian play? Or what makes you like Europe? I can't see the EU experiment ending well...

 

I really thought that silver was my hedge, but I think that this is a good lesson for me. Don't count on any one thing. I think it's still a good idea to hang on to it, but I really don't know what will happen.

 

I'd just love to see another tumble

 

Silver numismatic coins are a better hedge than silver bullion. I am fortunate that I followed my gut feeling and did not listen to people who told me to stick to bars and Silver Eagles.

 

I like numismatic coins also. I like to buy near spot and have something that's worth quite a bit more instantly. Of course selling them for that is going to be difficult, but they have more value to me at least.