Silver Below $14

It's headed there in a hurry.

 

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It did dip under $14.00 for a few hours earlier this week or late last week. Can't remember as the price is dropping due to speculation from the Fed soon. I'm content to buy and hold and buy more when it drops. It's a bargain and not many people realize it, yet.

 

Here's the five year chart, lower than it has been in five years. Good for buying but bad if you have a collection of silver coins I remember how shocked I was when it jumped below $30.

 

dollar so strong, gold down weeks/months in a row, markets are up(probably due for 10% to 15% correction sometime in dec. when fed makes a decision) Im buying physically and calls into early next year(silver). if not then ill just be another losing speculator. inflation way below feds 2% year level. should be interesting next few months. im stickin with short term high yield bonds and cash baby along with silver. other than that cash, im a puss im a little worried i guess.

 

Why would you be shocked? Excluding the chart above, how many times in the last 150 years has it been over $30?

Chris

 

When it was at $50 and it jumped below $30 in the the 20 dollar range it was a little surprising. I guess your right though, still way higher than it was for the most part in the past 150 years

 

Jumped, by inference infers that it is a vertical direction (think up).

Drop, or descended, or fell, is a negative connation, meaning to go lower, or a smaller number.

Think about it.

I jumped up.

I fell down.

 

The strong dollar is playing a big role in this. The euro is trying to stay above $1.06 per dollar. When the US raises rates, and with easing in Europe, the downward pressure will become more extreme. Some experts still see dollar-euro parity in the near future.

 

I hear the biggies in metals are broke and silver and gold will go down quite a bit . If that's correct I will buy all the gold coins I need to fill my type set . I've heard $800 gold and $8 silver . Wish I had a crystal ball .

 

Frank, at your age, you probably fall down more often that you jump up.

Chris

 

Wish I had three of them: one for the stock market, one for the bond market and one for PMs. Another one to figure out what the fed is going to do and when they will do it would be helpful, too.

 

Where's a world crisis when you need one? Lol, no, but I don't hope for that. I'm OK where the price of silver is. I just like my coins in silver. I don't collect bullion. I'm one of those, ah, you know, coin collectors.

 

I'm gonna get 'cha!

 

How so? Silver is a commodity that is trading at around the cost of production, in a low inflationary environment with a strengthening Dollar. As an asset, it does not grow, pay dividends or pay interest. There is also a very high in/out cost with the asset as the spread between buy and sell for retail silver can be 10% or higher. I disagree that we are seeing bargain prices.

 

Interesting quickie on Coin World on line today: Mint expects annual ASE sales record to be set next week.

 

I will not be surprised to see the US Mint begin striking 50 million silver eagles annually within the next few years. A feat that has not been equaled since the 1920's.

 

Sooner or later it won't be worth anything from the looks of it...

 

I buy coins on the Italian Ebay in Euros and I'm glad to see our Dollar so strong. It's made a big difference in what I can buy. In the past if a coin sold for 100 Euros I would have to pay $130. or more in USA dollars for it.