silver just crossed $26 an ounce

Auggggghhh!!!!!!
Not the dimes please.

 

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I agree! Leave my dimes alone!

 

I am not sure what to do, a part of me really wants to sell. I suppose that it is a good problem to have.

 

Dont sell until you see the US Govt (the Fed ... aka Bernanke) taking steps to STRENGTHEN the dollar ... Right now they are trying to weaken the dollar to strengthen asset prices (namely the stock market)

Sure we'll have down periods (just last week silver dropped to $23 from $24.60) but it's going to be an upward stairstep for a while

Just keep your precious metals and enjoy the ride

 

high is $26.63.

 

Looks as if they have sold out again but a great deal in silver was the 2009 silver proof quarter set from the US Mint. ~1.08 OZ of silver for $29.95. Shipping is $4.95 no matter how many ordered. Hard to touch a deal like this anywhere else on-line.

Unfortunately as of this morning, looks as if it was taken back out of the catalog. It reappeared for a while beginning on Wednesday.

 

I am going to hold onto all the silver that I own. I guess my question would be is it still worth investing more money into silver when buying at $26 an ounce?

 

wow i just dug out about 45 differnet silver items folks, spoons and knives that are all very most before 1900... went to chapters to buy a book on mint marks, so whats not worth value with age or rareity i guess ill make something off silver, question do people but some items like that which are say 50 to 80 % silver, im not talking coins just spoons and silverware and related items.. thanks.. by the way thanks for the price update

 

im meeting a guy in the next week or so who is not a coin collector but a friend of mine who i bought some coins off who is not a collector as well says this guy has a 20lb round about sack of old cananda and snewfoundland and some american old coins in it, im thinking i should be ablke to get the works for around 300.00 like a surprise package from god, cant wait to see whats in it. . he told me the guy hadf it foir years his buddies grandmother had all the old money and he got it for like a dozen beer..... cant sleep at night cuase i keep thinking about the possiblities, ill let everyone know what type of goodis i get if im lucky enough to buy it..

 

opps, should have spell checked again, the fingers on the keys , are excitement mistakes, lol

 

If it gets too high, will we loose a lot of coins? The silver content will outweigh the numismatic value and many will be melted.....Just thinking outloud...

 

yes but for a collector it should bring the value up. supply and demand im sure. but how is it tracked, say for example 200.000 minted whos to says 15000 are melted down thus bring whats in exsistance now to even less.. just thinking out load as well. good point

 

Yes.

Silver has it's eyes on $32 right now ... i think it will get there sometime in 2011
(just dont freak out on the pull-backs ... they are completely normal and healthy)


you have to remember that the 1980 high in gold was around $800 and the 1980 high in silver was around $50

gold has nearly doubled from the 1980 high ... while silver is about 1/2 it's 1980 high price

(however keep in mind the silver market was distorted by the hunt brothers scandal in 1980 ... still it's clear that silver has underperformed for a while ... so now it's just doing some catch up)


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i hear you,who regulates the price of coins listed in updated books year to year?

 

take for example i have coins l;isted to sell taking offeres on what i have in united states coins in the whats it worth catagory forum, how much actual silver isin those coins i have for sale is the silver value of these worth more then the collecting value? as i have no idea of the us coins i listed price wise .. anyone reading this have a look and if possible just tell me how much silver is in what..

 

WingedLibery, I will just point out a few things. One, measuring dollar value versus gold value and appreciation is completely unfair. Who holds dollar bills? No one. If you have cash you invest it in an interest bearing device. How much interest did Gold give for those 45 years? None, while you would have collected a LOT of interest on the money deposit.

Second, gold is not money. Period. It ended that role a long time ago, today it is simply another commodity like silver, oil, cotton, etc. If you are excited about PM, you should see the runup of some other commodities like cotton. PM is just more convenient to store.

 

Of course you might have a hard time explaining why the central banks that issue the very dollars you speak of, are sitting on thousands of tons of this "commodity". The Federal Reserve lists over 8000 tons of gold on it's balance sheet as an asset as a partial backing for the fiat dollars it issues. These fiat dollars are not convertible by the holders of this paper, but the Federal Reserve itself uses gold as a form of currency of "lawful money" when it deals with the government or other central banks.

Gold is not just a commodity like sugar or corn. It plays a huge role in the operation of the world's currency markets.

If you are not getting interest on your fiat dollars then you are losing. In your comparison you neglected to include the loss of the dollar's purchasing power over that 45 years. Gold does not have this issue because the reason the dollar loses value is due to increasing supply (now huge). In comparison, the supply of Gold changes relatively little. The comparison you said was completely unfair is actually completely fair.

 

The reason there are gold reserves are a relic of the past.

I do not understand how you say its fair to compare an interest earning asset with a non interest earning asset. In fact, gold is NEGATIVE interest earning since you have an expense every year to keep it safe. The price of gold in 1965 adjusted for interest rate spread between the two assets equates to a price of gold today of $532. Factor in that gold was too low in 1965 due to government intervention, and you have gold basically keeping pace with interest/inflation. Nothing more or less. Its not money its an easily stored commodity that pays no interest, in fact negative interest. Look at copper, it was probably just as good as a store of value as gold, or oil, or many other metals. Gold is just easier to store large values of in a small space.

You mention anyone holding dollars and not getting interest is losing money. OF COURSE! Who holds any sizable amount of money outside an interest bearing account? Inflation has been a fact of life for at least 100 years, its not new.

As for the role gold plays in currency markets, I believe its easily demonstrated that oil plays a much larger role, as it is a much more important commodity in terms of world trade.

Chris

 

It sure is a commodity, and the global economy does not really depend on it. Of course any country that has major gold reserves, and suddenly wanted to sell them, would get into trouble - it may have to pay more for future credits for example.

But basically gold is not a currency but a commodity - you buy and sell it, and pay or get the price in ... guess what, US dollars, pounds, euro or whatever currency you use. It is different from, say, sugar in that you cannot simply produce as much as you want, but it is similar to natural gas or oil maybe.

Christian

 

By your definition, the dollar is a commodity. You can get a Forex account and buy and sell it all day long if you like. The point being that Gold does have a special role in the world's financial markets.