Silver going $20+ this year .

Discussion in 'Bullion Investing' started by Kevin wu, Jul 8, 2020.

  1. GoldFinger1969

    GoldFinger1969 Well-Known Member

    As a CFA, you probably know that going back 5-10 years is probably most relevant. :D

    No, unlike you, this CFA is out of work. :D I might buy a bit up here, had I been working the last few months I would have been buying more.

    Fortunately, I bought most of my year's target in January at FUN. :D

    The money market ETFs acted terribly in March but they have come back nicely since then.
     
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  3. Brian Calvert

    Brian Calvert Active Member

    At least it shuts him for a long time. We dont have to deal with obscene posts... We are just starting this. I see much higher prices coming. I have backed off buying too much.
    Yet yesterday after a weekend of horrible news I know it would go up. Thus placed an order for 1900.00 2 each 10 gram bars (gold) and 20 Canadian maple leaf (silver). Did so because paying by check, which mailed today. I dont even get the product until August 10th because it is a pre-order.
    Did this just too see how much profit I can hook in 2 weeks.. Will be interesting as my money and prices are locked in.
     
    Collecting Nut likes this.
  4. Brian Calvert

    Brian Calvert Active Member

    You are correct. When you ask those that have REAL INSIGHT into the economy. Not just speaking to benefit their pocket. You learn that silver is NOT mined too much, just a by-product. Then add in Solar, electric cars, and other electronics you see where it SHOULD GO. China is buying all they can, JP MORGAN shorts are running on very thin ice as the longs take delivery. This leaves very little on the street for the common man.
    Right now the cheapest you can get on AVG. price would be APMEX. Yes, it can be haggled down elsewhere. Using Apmex the largest is the BENCHMARK for the industry. $25.43/SPOT and a American Eagle at 1-19 pieces are $38.40... That is the price for an eagle now.
     
    Tuco likes this.
  5. furryfrog02

    furryfrog02 Well-Known Member

    $25.33/oz right now. This is insanity. Glad I finished buying all my 2020 silver a few weeks ago.
     
  6. Rick B

    Rick B Well-Known Member

    How much did you pay for the Maple Leaf's? And where?
     
  7. Brian Calvert

    Brian Calvert Active Member

  8. furryfrog02

    furryfrog02 Well-Known Member

    I mean, don't most of us think that anyways? ;)
     
  9. Rick B

    Rick B Well-Known Member

  10. Rick B

    Rick B Well-Known Member

    $35.05 at Apmex if you only buy 1-24. You have to buy 500+ to get the price they are advertising.
     
  11. Rick B

    Rick B Well-Known Member

  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    There is a price correct coming but when is anybody's guess. The same with how far it drops. But it will continue to rise. Hope all works out well for you.
     
  13. Rick B

    Rick B Well-Known Member

    How do silver dollar sellers manage their inventory when prices go crazy? Let's say people pre-order at $33 but they are out of stock.
    1. Where do they get inventory wholesale, below $33 so they can make a profit on the pre-orders?
    2. What happens to their inventory if prices drop all of a sudden? They buy at $30 (say) to sell at $33, then silver dives back to $20! They lose their shirt?
    Tricky business dealing in silver and gold.
     
    Collecting Nut likes this.
  14. Brian Calvert

    Brian Calvert Active Member

    They will send you a check if they don't get the coins. I am sure there are other reasons too, like all of a sudden some error is found. They may keep them and send you a check.

    On the down side I am not too sure. I would guess that when you lock in a price, so do they....
     
  15. Kevin wu

    Kevin wu Well-Known Member

    We going see $26 to $27 dollars spots price soon . Screenshot_20200727-203356_Finance.jpg
     
  16. Brian Calvert

    Brian Calvert Active Member

    I keep the APMEX "gold spot page" right on my phone's home screen. So easy to one click and get the Spot Price, silver is one tab down. Then you can go to products easily and check pricing.
    Want to end by telling everyone good luck and hope you make a lot of money for you're family...
     
    Last edited: Jul 27, 2020
  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Is it ?

    Tesla stock quadrupling in 4 months, even doubling from the pre-March highs, could be considered insanity.

    I think gold and silver are just playing catch-up.
     
  18. Collecting Nut

    Collecting Nut Borderline Hoarder

    A wise dealer once told me it was a risky business in an up or down market. If prices stayed the same or moved a little each day that was different. Not in a market like this.
     
    GoldFinger1969 likes this.
  19. Rick B

    Rick B Well-Known Member

    People seem to favor Apmex. A gold buff friend of mine told me to stay away from them; that they were at the high end of cost. I haven't done too much comparison shopping.
     
    masterswimmer likes this.
  20. Brian Calvert

    Brian Calvert Active Member

    I use them for 10%, maybe a little higher. Mostly get it local.
     
  21. goldcollector

    goldcollector Member

    Paying $11 over spot and the silver crowd can't figure out why they always lose lol. That's equivalent to paying $3000 for an ounce of gold.
     
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