Silver Plunges

I have to agree that this downswing will only be temporary.

I mean, what has really changed to keep the dollar strong? Last week the fed further diluted the supply with that 200 Billion.....and he keeps chopping the rates. So, yea, unless I'm missing something here...........

 

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If you sell now, I think you'll be kicking yourself come this time next year.

But I hope the panic selling does make it drop more, so I can BUY more!

 

Hopefully it stays down for the next few days...I've got a coin show to go to on Sat. and I was hoping to buy some Mexican gold and generic silver.

 

Are Friday and Monday holidays in the US like they are here in Canada?

It'll be interesting to see where the spot prices are after a four day weekend...

 

Yehoo! Its below $17 now... Now I can actually buy things again .

 

just like the mint when prices go down they are slow to change their prices if at all.

even when production went up awhile back they continued to raise the price of gas. why? "speculation", must be something one of them got from their word a day calender. anytime the price goes up they call it speculation. i call it raping the customer.

 

When is the last time the mint lowered a price on anything? Especially a precious metal coin?

 

Another good indicator. At its peak, there were upwards of a dozen listings on our local Craigslist to purchase silver at 12.5-13.5 times face. Today.... ZERO.

 

Apmex had to shut down their online ordering, they can't handle all the traffic lately.
Only phone orders for now, with a $5000 minimum.

 

My guess, is the real reason is that they haven't been able to keep up with the change in prices. Prices have been changing very fast and I have noticed other sites, like kitco, lagging the market.

 

I bought some silver today, about $8 or so face. Time will tell if I picked a good time to do so...

 

Let's hope I don't stay right, about it staying around $16. Next prediction is it's going to go up to $17-$18, and then stay around there for a little while.

Phoenix

 

You have to keep in mind that apmex and other sites are hedged in the market so it dosnt really matter if metals go up or down they still make money, the reasons the sites are performing poorly is because there ordering process cant keep up with all the demand that it has to handle. apmex is getting new servers so hopefully the ordering process will be 10x faster than before especally under high demand times.

 

Climbing slightly this morning...

 

This is an interesting graph, 600 years of silver prices figured in today's dollars.
http://goldinfo.net/silver600.html

 

Interesting graph. It seems reasonable to assume that since the increasing availability of silver caused the inflation adjusted price to decline over a long period of time, the rapidly decreasing world inventories of silvler combined with the increase in the number of uses could reverse the trend and restore the historical value.

 

One would think so, especially with technological uses being rapidly found, refined, and integrated into our daily lives.

Ben

 

Excellent ! Thanks, BD !

No surprise the Western US silver lodes dropped the price of silver... apparently the mass mintage of Morgans failed to prop it up, which I understand was a major reason for making Morgans in the first place.

 

I notice the graph is on semi-logarithmic plot. That "compresses" it vertically, making the swings look less radical than they are.

 

I also noticed it's 1998 dollars shown as current. That makes it 10 years out-of-date. I wonder what a current one would look like.