Next step silver - over $20.00

Discussion in 'Bullion Investing' started by elaine 1970, Sep 7, 2009.

  1. krispy

    krispy krispy

    We have been seeing intraday prices breaking $20 in US markets and above since 9/7 which is enough for me to say "The End" to this thread.

    Elaine started a new thread and is already focused on 'predicting' $24/oz.

    So I say, again, to this thread, The End.
     
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  3. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    None of you have ever seen the movie Animal House? I'm slow, but not stopped...
     
  4. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    Now that it closed over $20....this dead horse has been kicked....
     
  5. green18

    green18 Sweet on Commemorative Coins Supporter

    Adieu, adieu, parting is such sweet sorrow......
     
  6. ewomack

    ewomack Senior Member Supporter

    Whoa... the shiny ominous metal crossed the line... I remember buying silver for $5.00 an ounce back in my post-diaper days.
     
  7. 1970 Silver Art

    1970 Silver Art Silver Art Bar Collector

    YES!!!!! Silver finally closed above $20 today. :)
     
  8. krispy

    krispy krispy

    $20/oz! This price point / milestone is in the bag...

    [​IMG]
     
  9. MCWholesale

    MCWholesale New Member

    I can not believe what a great deal silver is today.
     
  10. Revi

    Revi Mildly numismatic

    Silver is tanking today. It's down to $19.30 and has been declining steadily all day.

    What is going on? Why the drop today?
     
  11. mikem2000

    mikem2000 Lost Cause

    Can't tell what makes today special, but as many have said, the bottom is not yet in, and most likley will not be in for a while since it is entirely normal for markets to overcompensate. To me $14 looks like a good entry point.

    Mike
     
  12. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD

    "I'm going to buy when silver is under $18/oz...then when it does hit $18/oz I will buy when it's under $16/oz...then when it does hit $16/oz I will buy when it's under $14/oz...then when it does hit $14/oz I will buy when it's under $12/oz...then when it does hit $12/oz I will buy when it's under $10/oz...then when it does hit $10/oz I will buy when it's under $8/oz...then when it does hit $8/oz I will buy when it's under $6/oz...then when it does hit $6/oz I will buy when it's under $4/oz...then when it does hit $4/oz...ect...."
     
    medoraman likes this.
  13. YoYoSpin

    YoYoSpin Active Member

    As long as there is concern that the Fed will taper (higher interest rates), silver will fall along with most other commodities. Buy silver at $7.50 to $10 and you should be ok if your horizon is five-plus years.
     
  14. green18

    green18 Sweet on Commemorative Coins Supporter

    I sold most of mine at $35. It would be nice if the bottom was around $14 so's I could buy some more.......
     
  15. medoraman

    medoraman Supporter! Supporter

    Isn't that funny how it happens? Remember all of the "back up the truck if it ever is below $25" comments? Are they still backing that truck up still?

    Eh, I never am good at catching a bottom. I am buying bullion if I like the coin. These prices are low enough I am not worried about losing my shirt short term like I was when silver was $30+ and gold was $1600+. If it goes lower I will not stress, and simply continue to buy when I want a coin.
     
    AlexN2coins2004 likes this.
  16. medoraman

    medoraman Supporter! Supporter

    I am always too stupid to sell. I love coins, I love silver. Even when my mind screams at me to sell, I drag my feet.
     
    yakpoo and green18 like this.
  17. green18

    green18 Sweet on Commemorative Coins Supporter

    Do what I do. Plow the proceeds back into the collection. When I first started collecting bullion (rolls) I was hesitant and reluctant to sell too. I liked having all dem eagles flocking around me. But when the commem bug bit I knew I had to start selling off some of the collection in order to fund my new obsession and where better to start? A couple of rolls of redundant designed coins to purchase something new and unique...........
     
  18. AlexN2coins2004

    AlexN2coins2004 ASEsInMYClassifiedAD


    honestly I think they are curled up in the fetal position unsure what to do! how can the prices be falling? SILVER IS CRASHING OH MY GAWD IT'S CRASHING!! BAWK BAWK BAWK!!!! 'loses head' :D seriously though I'm glad I sold off alot of my silver I had as an "investment" back when it was over $39 and paid under $20 for it...yea I was lucky! that was after the $48/oz then down to 35 and back to almost $40/oz then steadily been dropping and holding and dropping more...

    I still pull silver out of rolls when I can get rolls that is..the banks in my area stopped wanting to give to me after about my 90th box...:D:D but if I happen to be going out of town and banks are still open when I get there I do try to pick up what I can.

    been working on my collection with my silver proceeds and also buying/reselling stuff if I find a good deal.

    no clue if the 2012 or 2013 silver proof dimes are going to worth $$$ due to the low mintages..but I'm been on e-bay buying when I see PF70's for $21 and lower up to 5-2012's and 3- 2013's
     
  19. mikem2000

    mikem2000 Lost Cause

    Sounds like a great plan to me :) Good job locking in the profits at $35 ;)
     
  20. Revi

    Revi Mildly numismatic

    Should I buy more? No money right now, but maybe if it hits a lower price in the new year I might be tempted. Where is the bottom? What is the cost of production? It can't go much lower than that, can it?
     
  21. medoraman

    medoraman Supporter! Supporter

    Who's cost of productio? Every mine can account for it differently. In some mines I would not be surprised if the cost is nearly zero. Btw, yes it can go below total cost, and even variable costs, for a while. The cost to close a mine are pretty high.
     
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