Target silver price?

Discussion in 'Bullion Investing' started by Cinco71, May 15, 2021.

  1. Eric the Red

    Eric the Red Supporter! Supporter

    After all the years you have been stacking and stashing:) i totally agree with you. I wish I met my goal earlier on and at cbeaper prices:)
    You couldn't be more right about the US Mint. My only purchases in 2021 have been a silver and regular 2021 proof set lol
     
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  3. Eric the Red

    Eric the Red Supporter! Supporter

    The premiums show no signs of going back to normal anytime soon. It looks like the Silver trend is moving out of derivatives/ETF's etc. and into physical ownership. This new move into physical metalsl coupled with current supply issues/shortages and heavy demand spells higher spot prices for the metal and higher premiums do to availability. IMHO

    Besides wild market swings that will occur when the Shorts exit their Short positions and go long. I don't believe silver will be back below $20 for any extended period of time. And when it does dip below $20 it will not be available for anything near $20 :)
     
    Jeffjay, Antonius Britannia and Lueds like this.
  4. Eric the Red

    Eric the Red Supporter! Supporter

    There is alot of truth to this statement and in many ways.. If this new trend out of the silver derivative markets and into physical ownership continues with this new generation then the days of cheap silver are over. Can you imagine if they all bought Silver instead of Doge Coin:) Maybe that day is comng:)
     
  5. rte

    rte Well-Known Member

    I'm not actively looking to add silver, but recently picked up an old pour bar at $1 over spot...$27.25.
    While in transit spot went up a dollar.

    Idhair there are plenty of people looking at $30/oz if the item is what they want.
     
    Eric the Red likes this.
  6. fretboard

    fretboard Defender of Old Coinage!

    I agree, there are more silver stackers today than there ever has been and the spot price of silver has not gone up significantly in over a year. I'm not buying anytime soon as the premiums are crazy high and will remain high as everyone and their Mother continues to buy coin after coin!! :D My guess is the prices of premiums will stay high for at least another year or two!
     
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  7. Bman33

    Bman33 Well-Known Member

    I’ve been buying silver for over 5 years. I started dollar cost averaging when it was below $14 and most of my purchases were when spot was $14-$18. When prices and premiums went up I stopped buying as consistently as I was. I presale ordered 3 2021 silver eagle rolls on the type 1 and will do the same for type 2’s. It’s hard paying over $700 a roll now. I have been realizing profits over the last year as I have half of my stash but the dollar value of my stash remains the same. Under $25 and lower premiums would get me to buy monthly again. Always looking for the best deals for any kind of silver.
     
    Eric the Red likes this.
  8. FryDaddyJr

    FryDaddyJr Junior Member


    but how many will stick with it? most of them will drop off especially as the economy recovers and the world doesn't end
     
  9. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I would think the premiums will stay the norm
    as well as prices, Silver is the only PM that is
    somewhat affordable compared to Gold, Platinum and palladium not necessarily in
    that order...LOL
     
  10. Eric the Red

    Eric the Red Supporter! Supporter

    That's a good question "how many will stick with it? "
    I expect alot of people will sell at or around $50. I can't say i would blame anyone at that price. This will flood the market briefly and the price of silver will drop temporarily. "Shaking the tree" for weak hands to sell. Then the price will continue to rise with more tree shaking along the way. When the bloated Markets collapse and the bubble pops all bets are off. Metals will temporary collapse with everything else including stock markets and cryptos. The banks who are Short precious metals will use the collapse as an opportunity to cover their shorts on the cheap and then go Long on metals. Then everybody and their mother will run to metals as a safe haven. As they have done fime and time again. But this time the metals won't be readily available do to shortages and demand and very hard to obtain even while paying outrageous premiums. When the banks go long the price will rise dramatically. JMHO
     
  11. losthomer

    losthomer Active Member

    $16.50/oz for generic silver is the number here. There are to many other and better investments to pay for than expensive silver.
     
    Last edited: May 16, 2021
    Cinco71 and FryDaddyJr like this.
  12. fretboard

    fretboard Defender of Old Coinage!

    That's exactly why so many people are stacking! :D New stackers and whole families stacking with the thought that silver is going up to $300 an oz.!! These are truly exciting times for silver especially. thumbsup.gif I may lose out for not buying more, but we'll see.
     
  13. Eric the Red

    Eric the Red Supporter! Supporter

    Time will tell. Good Luck to everyone:)
     
    Copper lover likes this.
  14. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think $ 300 OZ would be an exaggeration, but I do see a price increase in the
    next 6 months versus a decline.
     
    jb10000lakes likes this.
  15. crazyd

    crazyd Well-Known Member

    I dont really care what the price of spot silver is - only the premium over spot they want. And the premium is too "gosh darn" high as of late.
     
    Eric the Red likes this.
  16. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Not sure that will ever change unfortunately
    regardless of price up or down :(
     
  17. fretboard

    fretboard Defender of Old Coinage!

    Yeah, and they're not getting any lower, it's crazy! :D Ebay is worse but I went to my LCS the other day and his prices have the crazy high premiums as well!
     
    Eric the Red likes this.
  18. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    With that said, hard to find an excuse, not to buy...
     
    Eric the Red likes this.
  19. crazyd

    crazyd Well-Known Member

    When I last looked at gold, even fractional minted coins, I am seeing a 15% premium over spot. Silver looks like 30% premium. Lots of folks thinking Silver is going to shoot the the moon I guess and will eat that 30%.
     
    Eric the Red likes this.
  20. Heavymetal

    Heavymetal Well-Known Member

    I’m cost averaged at about $18. About 700 oz at last count
    Blew out the hoard once 10 years ago at $28 or I’d be around $12 average.
    If I ever see $20 again it’s buy time again
    At $18 I back up the truck
    At $16 I’d buy on a margin
     
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  21. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    $20 again ? I think with the pandemic
    a new normal demands a higher cost
     
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