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<p>[QUOTE="Cringely, post: 937655, member: 22271"]<i><span style="color: DarkSlateGray">Originally Posted by Conder101 </span></i></p><p><i><span style="color: DarkSlateGray">From an unknown collector circa 1967 (fictional of course)</span></i></p><p><i><span style="color: DarkSlateGray"><br /></span></i></p><p><i><span style="color: DarkSlateGray">In 1967 silver was under $2 an oz, silver dimes would melt at 12 to 13 cents apiece, and the melting of silver coins was illegal. </span></i></p><p><i><span style="color: DarkSlateGray"><br /></span></i></p><p><i><span style="color: DarkSlateGray">The same arguments used against the hoarding of copper cents today would have made the same logical sense in 1967 applied to hoarding silver. Within six years melting of silver was legal, dimes would melt at 3X face. Within twelve years silver hit $50 an oz and silver dimes were selling for $2.50 apiece.</span></i></p><p><br /></p><p><br /></p><p><br /></p><p>The reason why silver hit $50/oz in 1980 was that the Hunt brothers tried to corner the market and artificially drove up the prices. As soon as the Hunt brother's bubble burst, the price of silver dropped like a rock.</p><p><br /></p><p>Copper isn't a precious metal. It is a relatively abundant element. If there is a rise (or fall) in copper prices, I would think it would track most other non-PM commodities[/QUOTE]</p><p><br /></p>
[QUOTE="Cringely, post: 937655, member: 22271"][I][COLOR="DarkSlateGray"]Originally Posted by Conder101 From an unknown collector circa 1967 (fictional of course) In 1967 silver was under $2 an oz, silver dimes would melt at 12 to 13 cents apiece, and the melting of silver coins was illegal. The same arguments used against the hoarding of copper cents today would have made the same logical sense in 1967 applied to hoarding silver. Within six years melting of silver was legal, dimes would melt at 3X face. Within twelve years silver hit $50 an oz and silver dimes were selling for $2.50 apiece.[/COLOR][/I] The reason why silver hit $50/oz in 1980 was that the Hunt brothers tried to corner the market and artificially drove up the prices. As soon as the Hunt brother's bubble burst, the price of silver dropped like a rock. Copper isn't a precious metal. It is a relatively abundant element. If there is a rise (or fall) in copper prices, I would think it would track most other non-PM commodities[/QUOTE]
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