Silver getting crushed today

$18.67 and falling as I type. It's getting close to my break even price per ounce that I have paid this year. I do have some Silver Eagles and Canadian Supermans that have high premiums though so it will have to go down even further for me to take a loss. From what I have sold this year I have still made a couple of hundred dollars. Not going to buy for awhile to see when the dust settles. Til then I am just going to Coin Roll Hunt Half dollars to still accumulate. That's not easy though.

 

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Closed at $18.61 today. I think at this point I want it to go down a few dollars so I can buy again. Feels like where it is now has people going into hibernation mode.

 

Ask Price is $18.64 and going down overseas. Let's hope this correction doesn't go on too long.

 

$19.16 50 cent drop so far

 

Keep watching silver day by day and I swear it will rot your mind. I did it 40 years ago. It's gonna go up, then down. Rinse, repeat.

 

Thanks for the advice. I'm new to this. You mentioned in another silver thread that one of your coin clubs is bearish on silver. Looks like they might be right.

 

If you're doing true dollar cost averaging, then buy more when it's down, and less when it's up. What's up? Who knows?

 

If you want a clue when "up means up", watch the inflation figures. When that li'l baby turns north, get ready for a silver spike like none seen in the last 5 years.

 

Yeah, fortunately I have not put a lot of money in this. It's more for fun and learning. Tomorrow I'm going to my favorite coin shop to get a scale. I'll pass on my silver purchase this week which is usually $30-$50 dollars. I might get that $35 Morgan I've been wanting for awhile. I want it as a learning tool.

 

$18.02 as I type. Dropped $1.13 Since Sunday.

 

Gold fell below $1,300. Down $34 at $1,277

 

seems to be spurred by the Fed stating the economy can handle an interest rate hike. But then gold/silver has been steadily dropping for some time.
http://www.bloomberg.com/news/artic...ongest-retreat-in-five-weeks-on-u-s-rate-view

 

I'm always amazed how volatile all markets can get by the prospect of a 0.25 percent rate hike. But as several observers have pointed out, there is a generation of Wall Street that hasn't known anything but near zero.

 

If you any any adjustable Finance charge debts - credit cards, etc. Then the 1/4% hike probably would affect you, and probably more than 1/4%.
And of course future fixed mortgages, etc.

Of course, if you have any savings, it should get positively affected too. But by how much I guess we'll see.

 

What you say is true. What I'm saying is that the economy may be a bit "spoiled" by rock bottom rates for so long. Many of us here can remember when a fed funds rate of 5 percent was considered "low."

 

I can remember when I was a 8-year-old kid with my folders full of dimes ($3.00) and quarters ($5.00), taking them to my local S&L and getting 4.5% on my passbook savings account, and that was before silver was taken out of coins, so it also was before "WIN" buttons, and "malaise", and "Morning in America", and "the end of welfare as we know it", and all that stuff.

 

Just checked. Look at the timestamp on this post. Silver spot back below $18. Can you say "rout" yet?

 

I maintain a 5.5% minimum savings financial tool I got back in the early 1990s. I love looking at the monthly interest on that. Conversely, I think my mortgage back then was 7.5%.

silver is at $17.89

for the longest time I was hoping Gold would go back to under $800 and silver under $14 ... I'm still waiting.

 

Heck, I remember in late 70's, early 80's CD rates around 15%...sweet! Of course my parents were the ones having to deal with the sky high rates on the mortgage!

 

Stronger dollar is making mincemeat out of most of the markets today.