Silver Dropping Like A STONE!

Terrible spot price but it won't last, or will it? Price today is $21.50! Just sharing a video here, is it time to stop stacking and chill for a few years? Maybe so, what do you think, are you still buying??

 

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Silver $21.54/oz -0.94

 

After the stock market melt-down yesterday, I was surprised to see the metals goin in the same direction.

My only interest in this is my purchases for prizes for my local club. Lower silver means more options. Before the pandemic, silver was low enough that the former prize purchaser could throw in a junky Morgan Dollar into the mix. The last time I priced one a couple of months ago, the dealer wanted $28. No thank you!

 

Wunnerful...now just three weeks before a majority of my lifetime silver coin collection goes up on the block here in rural Indiana...what a revoltin' development this is...!

 

Yes, “The Life of Riley” did have it’s “revolting developments.” Still, if there is numismatic value there, you should be okay, and the market could still get an upswing.

 

Hello John,
You are really dating yourself with that 'Life of Riley' reference.....What next, 'Amos & Andy'......?...Ha! Ha!
( Of course not A&A, it wouldn't be PC)
J.T.

 

Yea, it stared William Bendex and I was a little kid at the time. The only think I remember was he famous punchline.

My grandmother watched “Amos and Andy.” It was something like a 15 minute TV show. I understand that it started on radio with a couple of White guys playing the leads. When I saw it, it seemed to me that “The Kingfish” was the main character.

 

Depends on where you are with your stacking. Myself, $21 is a decent price, but premiums still high. I am waiting for premiums to be reasonable. I am picking up platinum as I find it nowadays, especially proof platinum eagles. Hard to find though.

 

I remember watching and enjoying Amos and Andy in the 1950's

 

Wow.... If I could find any at that level, I would add to my stack. I suspect the current premiums will still make silver unattractive though.

 

I'm starting to believe that it isn't that surprising anymore given the universal method of computer based algorithmic trading that is the norm now. Everything gets sold when the computers decide to sell.

Regardless of 'how it used to be'.

 

Premium isn’t always high.

A few days ago JMB had a special deal of $1.29 over spot for their Silvertowne rounds.

 

Your logic confounds me. After it drops like a stone is the time to stack up. No DCA here, at least for precious metals. The price isn't low enough yet though.

 

I remember not too long ago when everybody was glad it was $16-$17. Quityerbitchin and buy. I guarantee that most people on this site bought a good portion of their stash when it was a lot lower than it is now.

 

That is where I am for silver. Total all in price not cheap enough. It has to be a really good deal for me to buy silver anyway. I kind of have enough.

Gold is too pricey, as is palladium. I could see palladium really taking a beating long term. No jewelry demand, not as well known as AU or PT, and auto demand expected to disappear. PT I like, but hard to find what I want at a reasonable premium.

So, I just collect coins and watch the markets.

 

It might drop but no one is selling that low.. not TLCS or Bullion Dealers. IMO its due to a failing fiat dollar and the treasury wants to stop people moving "fake money" into "real money"

Almost makes me want to buy a few Kilo Bars of silver but getting back into Bullion I am waiting for platinum to drop below $800 then buy several pounds on the downswing.

I think it's great silver news for those ready to buy and those who have it just stay patient like you always do as it will get back up soon..

 

Yes, thanks...fortunately most is indeed of higher-grade, collectable value so not too worried.

 

That's right, we all have our buy in price and it hasn't hit mine yet. When it does, I'll definitely buy!

 

Still buying, for me Silver is wealth storage, if you have the cash your going to spend it on something else, so why not put something back long term, its never
a loss profit/loss unit you cash out and I dont plan on doing that anytime soon
so all good over here

 

I'm very confused by your purchase philosophy. Do you buy when the prices are rising and stop stacking when they're falling? That doesn't make any sense to me. I'm hoping you can explain. Maybe I've got it wrong.