I am not a buyer now but if this hits $10.00 I speculate that it will take right off. It will draw mucho attention.
Back in June or july I told the PCGS list that SILVER WAS A "SCREAMING BUY" when it was at $3.60 an ounce. The 'board barrons' laughed me off. Right now I think silver's potential is The Sky's the Limit... B
I like silver a lot and have a very positive view about the long range prospects. But the full time commodity traders will tell you that "commodities hate round numbers" and silver might approach the $10 level and back off several times before it goes above it with any significant followthrough. Sometimes they are right, sometimes wrong.
silver prediction silver is predicted by some analysts to hit $10.50 to $11.00 this year. but with iran nuclear negotiation heating up. it might go up to $14.50 to $15.00. while that of gold is $600.00 this year and with iran thing to $800.00.
I, too, like silver and "hoard" it whenever I find some. I also like gold (when I can afford it). However, if the Iran "thing" happens, oil is speculated to increase to US$225 a barrel (42 gallons). That would be about US$5.35 before all the local taxes. Here a gallon is going for US$2.42 at the current US$65 a barrel. That would make it US$8.37 a gallon. My Jeep takes 19 gallons - so that would be US$159.03 to fill it up!!!! (I hope I did my math correctly). That would be 15 ounces of silver!!!!!!!!!!
I believe in the long term (the next 10 years) gold and silver will probably do pretty well. But in the short term, I have to ask what will people sell to cover their losses when real estate and/or the stock market gets Jiffy-Popped?
Eagle Fist Strike Hello guys,,, could someone have the possibility to explain what was the difference between the Eagle fist strike and the PF-69 or PF-70 because for me it's just the price, but .....in fact i do not know... i know that the value of the Eagle will be very high but i would like to start to collect the Eagle!!!!! and of course in the better grade with NGC or PCGS. nicholas
Nicholas, The "First Strike" designated silver Eagles are regular, uncirculated, non-proof coins. These will be designated with a grade of Mint State, then a number, such as MS69. The PF-69 and PF-70 coins are proof coins. To most, these are considered to be a different coin. Proof coins are made for collectors and the others are made for people who want a store of bullion. Just so that you know what you're looking at, with silver eagles, proof coins are the coins you see that are very shiny because they were struck on a polished planchet. Mint state, uncirculated coins have more of a satin finish. Also, most here I believe will tell you not to pay extra for "First Strike" designated coins. Many of us here believe this to simply be a marketing ploy by the grading companies. If you want slabbed silver eagles, you can buy them in MS69 grade without the First Strike designation and probably most of the time get just as nice of a coin, if not nicer and pay less for it.
This is exactly what i thought about the designation when you said "simply be a marketing ploy by the grading companies" and you gave me a real good explanation of what i expect to have about my future collection of the Eagle!!!! of course, i prefer the PF-70!!!hahahahha and my bank here in Paris will kill me maybe.... nicholas
Sure!!!! tonight, i will go to the US site web to see if i can take one or two silver Eagle in PF-70. i will update if i took them. see you soon nicholas
I stand by this, if we hit $10 it will fly. If I am wrong I am sure that you will let me know. $10 is the psychological barrier.
I'd like to offer a comment. You can take it or leave it. A lot of people seem to have a psychological need to be "right." This isn't how markets typically work whether it is stocks, bonds, or commodities like silver. Guessing the unknowable is just that -- guessing. I can tell you the typical pattern. Will it occur? Nobody knows. If anybody tells you they know, they are lying. If silver acts in a "typical" manner, it will approach $10 and back off, perhaps several times. Eventually it will break through and rise somewhere between $10 and $11, then back off the high to retest $10. IF that level holds, no sure thing, then traders will consider $10 the new support level and the base from which to measure future increases. A major terrorist event or war could override the "typical" trading pattern. So could the onset of a recession. So could an unexpected change in supply or demand. Some people think the price of silver is manipulated, and if true, this could also disrupt the pattern. Maybe there is no pattern. Does any of this matter? Probably not to the audience at CoinTalk.
The Hunt brothers went from billionaires to bankrupts - with debts of a billion dollars more than their assets - when they tried to "corner the market" in the 1970s. In the course of the inevitable collapse, silver went from $20.62 to $10.80 in one day. Notice the dates in this excerpt from an "investor's News Letter" published by one of the so-called gurus of metal commodity trading:
I don't doubt this at at. What do you think fly means though? Does that mean it will go up a couple of bucks, or double or triple in price? Won't there be another barrier at $15 or $20, etc.?
Interesting comments Cloudsweeper. I don't know much of anything about the metals or commodities market (except that sometimes they're crazy), so thanks for the insight.
Don't put too much faith in anything you read from anyone about what will or won't or might happen in the future. That includes me.
