But that was a direct result of a small group of people trying to manipulate the market... that isn't the case right now. At least I hope not!
A fellow I work with who's in his late 50s has collected everything from antique radio parts to discarded satellite dishes to piles of scrap lead for decades. You name it and he's probably got it, or knows where he can get some. He's kind of quiet and yes, a bit eccentric, but he's very sharp. Once you get him talking about precious metals he has a hard time stopping. Platinum is his preference. Last week I showed him my entire platinum collection: two 1/10 ounce coins I purchased 5 or 6 years ago. The look on his face was priceless, like a child's on Christmas morning. Anyway, we usually chat about silver and gold prices once or twice a week. He claims there is less above ground silver available today for X uses than there is gold. Therefore, he's very optimistic about silver's future. He thinks there is a huge potential upside, even at today's prices, regardless of however much silver there is left in the ground. He believes energy costs will help keep price levels elevated if mining operations increase dramatically. He points to the usual suspects- demand from India and China- as being catalysts for helping drive the current bull market, and claims to see no end in the near future. Just another perspective.
I'm not quite that optimistic, but generally I think his facts are correct. I think there was a US Geological survey report a couple of years ago that forecast that silver would be the first major industrial metal to be virtually mined out on a global basis over the next few decades. Since a very large percentage of what is mined is consumed annually, this will lead to permanent shortages and much higher prices.
There are no current billionaires stupid enough to try emulating the Hunt Brothers' financially disastrous attempt to corner the silver market!
Cloud, I'm more from your school of thought. Nevertheless, I really enjoy listening to my co-worker's rationale. It's a subject I rarely tire of quickly. You should hear him talk about his copper collection. Apparently he's been stripping the wiring out of anything he can get his hands on for years and has it all stashed somewhere. Good stuff! :smile
2007 w silver eagle unavailable 2007 w am eagle unc silver dollars is not available now. the mint announced. as expected and due to silver increases.
new price if the mint decided to offer 2007 w unc am eagle silver dollar again to the collectors. based on today price. it will be selling at $28.95 or more.
new recent high for silver as expected, new recent high for silver today at $18.52. no wonder the mint declared 2007 w am eagle unc silver dollar product not available. now it is time for silver and gold to move upward. and time for palladium and platinum to correct downward. palladium break the record high at $538.00 per ounce.
They stopped selling the 2007 ASE unc from the mint for 21.95 today maybe they are out or the Silver price is in play I'm glad I ordered more before the cut
i did cancel i cancelled two order of 99 pc (total 198 pc) on the same day that the mint declared product not available. because i need some cash for my new house as down payment.
precious metals up below are precious metals percentage up since dec.31,2007 to present: palladium $544.00 up 49.5% platinum $2,162.00 up 41.3% silver $18.91 up 28.1% gold $951.20 up 14.1%