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<p>[QUOTE=&quot;jolumoga, post: 1723057, member: 41780&quot;]I have tended to view silver as a monetary metal, not so much because it is used in daily transactions like paper cash and in rare cases gold, but because it tends to orbit the price of gold, in a way similar to how the Moon orbits the Earth.&nbsp; Also, if a gold standard ever is reinstated, or something similar to a gold standard, silver will likely take off.&nbsp; However, for the time being it looks like the dollar has avoided a serious drubbing, and, given the lack of competition to it in the world today, it is likely to retain its reserve currency status longer than some doom-and-gloomers believe.&nbsp; That being the case, dollars rather than ounces would have to be a point of reference for an investor.&nbsp; Still, one good thing about using ounces as a point of reference is that it can be psychologically motivating to stack more and more ounces, and thus can help some investors increase their net worth, though that model may not be optimal.</p><p><br /></p><p>I will have to look at cost of production more carefully.&nbsp; One important detail to look at, I think, is how the miners will fare with silver&#039;s price drop, in terms of their profitability and output.&nbsp; If suddenly a bunch of miners go out of business, or their profits plunge significantly, then that would be a <u><i>clue</i></u> that the cost of production may be in the higher range of estimates.&nbsp; It can be difficult sorting facts from empty claims tho.&nbsp; Like I pointed out, the range of estimates is so wide.&nbsp; One challenge to derive an accurate number, I suspect, is that silver is mined largely as a byproduct.&nbsp; So production may be affected primarily by the drop in other commodity prices such as copper.[/QUOTE]</p><p><br /></p>

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