Prices are high

Discussion in 'Bullion Investing' started by FryDaddyJr, Jan 12, 2020.

  1. WoodyWW

    WoodyWW Junior Member

    I lived thru that crazy silver (& gold) spike back in the (late) 1970’s. I was doing great with it for awhile, having started accumulating lots of silver when I was a teenager in the mid & late '60s & then into the '70s. 90% silver from pocket change! Franklins, W.L. Halves, Merc. dimes, etc. Rolls & rolls & rolls of 'em. Also I stocked up on Canada 80% P-L sets & Dollars--I think the 80% silver P-L sets were going for $2(?).

    In the late 70's, instead of selling gold & silver, I got caught up in the mania & kept buying. It turned into like a gambling mania I think. I don't want to go into details, but it ended badly for me. In my defense, the inflation then & very high interest rates had a lot of people freaked out. Along with geo-political factors.

    BTW, I related some of that on threads here during the last silver spike around 2011. I was always told in no uncertain terms that the PM bubble in the late '70s had nothing to do with the silver spike in 2011-2012. Totally different; silver was not going to go down this time!
    SilverMike, imrich, midas1 and 2 others like this.
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  3. Darbtalion

    Darbtalion New Member

    While prices seem high relative to previous year prices, I am still a buyer but only good deals that I find at my local coin shop or ebay. My most recent purchase was yesterday where I got 25 VF-XF 1922-1923 Peace Dollars for $14.75 each.

    Granted, my only other purchase in the last three months was a few 1921 Peace Dollars.

    As long as you are purchasing for the enjoyment of ownership, focusing on the prices is irrelevant as long as they are within a healthy range and not spiking to the 2011 levels. Unless your a dealer, shop owner or wholesaler, your not going to make a lot of money in it.

    If you are one of the above mentioned, I hope you have a business plan, flexible capital and a lot of time as it is a capital and time intensive business.
    ripple and Mr. Flute like this.
  4. goldcollector

    goldcollector Member

    Just because the price for something is $17 doesn't make it low. Just because the price for something else is $2000 doesn't make it high. The "stupid" public that bought palladium is up over $100 an ounce since he posted this message while silver is down another 2%. Who knows what palladium will do, but it is incredibly rare, especially compared to abundant silver. I wouldn't be at all surprised if we see palladium at $3000 which would be another near $1000 gain. Silver would be lucky to add $2 from its current position.
  5. TheFinn

    TheFinn Well-Known Member

    Hers mentality. The successful investors use their brains and go against what the starlings are doing.
  6. goldcollector

    goldcollector Member

    Silver I always the #1 hyped starling but it never does anything
  7. FryDaddyJr

    FryDaddyJr Junior Member

    because it's cheap enough to swindle the dummies on panicky advertisements
  8. -jeffB

    -jeffB Greshams LEO Supporter

  9. tommyc03

    tommyc03 Senior Member

    I must have missed this one but I can say, people have a long memory. You can run but you can't hide. Karma is a *****. Fill it in.
    xCoin-Hoarder'92x likes this.
  10. goldcollector

    goldcollector Member

    Jeff Platinum is up to $993. I think this is the time it pushes through
  11. myownprivy

    myownprivy Well-Known Member

    What do you mean by "high?"

    I think there are a few ways to assess this:

    1) A person is someone with special knowledge of the PM markets and/or global markets. With this information, they believe gold and silver they are overvalued, and thus are not buying due to the inflated price.
    2) You are not someone with specialized knowledge but a layperson who simply follows PM prices and buys occasionally. For you, these prices are just too much to justify (much in the same way as you could be someone who says "there's no way in hell I'll pay $4 for a cup of coffee" or "we won't take this road trip until gas falls under $3." Those strict, frugal views may be good for your bank account, but they aren't necessarily based on any particular knowledge of why oil is high or if coffee beans are expensive or if the shop just overcharges.
    3) You are some who believes PMs should not be more than 5-20% of your assets. When gold approaches $1600 and silver passes $18, your holds of gold and silver risks passing your predetermined ceiling. In that case, you see no reason to buy.

    I am a little bit of all three, but mostly a bit of 2 and 3 (as, admittedly, almost all of us are. Few of us have any specialized knowledge of PM markets).
    Bman33 and ripple like this.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Yay! It made it! Now you can afford to refund @Garlicus the money he paid you back in 2017, for that silver that you never delivered.
    pantherdev likes this.
  13. ripple

    ripple Active Member

    @myownprivy, your post says it correctly. Maybe I’m wrong but it just seems that with stocks so high, the demand for silver would be much less, even tho it is an industrial metal. I don’t even see really good dips.
    FryDaddyJr likes this.
  14. goldcollector

    goldcollector Member


    Those idiots buying Palladium up another 5% today to go with their 5% gain yesterday. Silver is break even with where it was 10 years ago today and the palladium idiots are gaining 5% a day and boy don't get me started on those Bitcoin idiots.
    ripple likes this.
  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Keep an eye on the developments in Spain and their government vis a vis the Euro.
    Bman33 likes this.
  16. Bman33

    Bman33 Well-Known Member

    I bought a lot at $14-$15 an ounce so spending over $20 on Silver Eagles seems like a lot. I think it’s because I am speculating that silver will not have a run up to $50 an ounce. I am satisfied with selling a little here and there and making profits as I do. For the most part all my gold and silver is a small insurance policy if the economy goes south for a bit and metals go up.
    ripple likes this.
  17. crazyd

    crazyd Active Member

    I buy a small amount silver and gold nearly every year. High, low, does not matter to me. A little each year.
    JCKTJK and ripple like this.
  18. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Not me. I'm spending like a drunkin' sailor......
    ripple likes this.
  19. ripple

    ripple Active Member

    And gold goes up on the same day the Dow hits 29000.
    JCKTJK likes this.
  20. MontCollector

    MontCollector Well-Known Member

    I do not stack silver but I do buy an ASE, Maple Leaf, and a Silver Britannia every year. I picked up the 2020 Britannia a week ago but am going to wait on the other 2 to see if the price goes down later in the year.
    ripple likes this.
  21. goldcollector

    goldcollector Member


    Those idiots buying Palladium are up another $110 in the last 8 hours. Don't they realize profits are just a big headache. They should have bought silver instead and they wouldn't have to worry about it. Silver down again today while Palladium is up another $100 +.
    Who could have guessed that buying the easy, cheapo option wouldn't turn out to be the right play ? Well, everyone except the silver crowd of course.
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