What if silver plummeted down to $15oz, would you be ready?

While this is a structurally sound statement, the unprecedented tripling of the money supply in 3 years has to have additional consequences than in years past. Whether or not we see them in the near term or the long term, and whether or not there are additional ways to finesse the market to mitigate the impact - I will leave that speculation to others more knowledgeable.

 

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Don't forget that in 1980-2000, European central banks were manipulating the price of gold, and China and India were merely bit players in the PM markets.

 

No one is more knowledgable to be able to determine something like this. I just remember past doom and gloom about the national debt similar to current worries. YES, it needs to be trimmed and spending cut. Look around the world though, and the US is not in horrid shape. Many countries have much higher levels of debt to GDP, most developed nations have lower growth rates, and the fast growing countries have some massive problems of their own. Looking around I really can make a case that the US, for major economies, still has the best case for their currency. Not a foolproof case, but a case. I can go through country by country if people are interested. Every currency has some problems. Just as a case, since everyone talks about China and the yuan, this is still a communist country that the central party can do whatever they please, have raised military aggression levels, and worst of all is the fastest aging country in the world. The amount of GDP that will go to caring for the literally tens of millions of new retiress every year is unprecedented. As it is labor shortages have begun to push labor rates up 200-300% just in the last few years.

Given every currency has problems, I am not so pessimistic as many here concerning the dollar. Could I be wrong? Absolutely.

 

Maybe, but I saw Richard Haass [look him up] on TV the other day indicating that it is time for the Fed to find a way to reduce their balance sheet from $3T back to the $1T level considered "normal." Now, I have no idea whether or not they will do this, but it bears watching. I'm sure the think tanks are hard at work on the problem. If it happens, this might be the catalyst for ending the bull market in PMs and sending them back to sleep for a couple of decades. I'm not saying this will happen, but it would be irresponsible to ignore the possibility or claim that it is impossible.

 

I'd love to see $15 oz, but the probability of it is out of range @ this point!But I do see mid 20's here real soon!

 

Yeah I really don't have my retirement plans set on that little 401k mentioned, so don't worry about that I just hate to get hit with penalties and taxes. I'm wanting to diversify into PMs now that the price is down a little.

 

I not only would be ready for it I welcome it.
Bring on the cheap prices again as I still love getting new coins.

 

Either way you look at it, this is an exciting time for coin collectors! Sure, I had my hopes of silver hitting the $55oz mark but it didn't happen. That's alright, unfortunately we are still in an economic downturn and unfortunately there will still be more things that are gonna happen to affect our national security. In short, silver will go back up. I hope it doesn't go below $29oz but if it does I'll have to roll with it. :yes:

 

For 20-something year olds like myself, it would be wise to purchase it if it were to go down to that $15 mark. I think it would be a nice little investment to my retirement.

 

I'd love for it to go to $15 an oz. I'm still fairly young, so I can sit on a lot of silver for decades if need be. But besides that, I have a lot of holes in my collection thanks to just starting my collection last year and the prices skyrocketing. So a cheaper silver market would do wonders for my albums.

 

At a coin show here in Boise, Idaho last weekend, the attendance was way way down. Dealers had signs on their tables that all prices were subject to change. I hope that this shake out on silver does bring regular pricing to the coin market. Prices were very high for normal coins, (10x face for old silver coins and 6x face for 40% coins.) After gathering silver coins for the last 20 years, I was giddy to see the prices going up, but it really didn't mean a thing because I did not sell a coin. I wonder how many coins met the melter during this price increase? Could that make our coins worth even more? Going to be interesting.

 

I don't know, are you sure about 10x & 6x face as of last week?

I don't think many, if any coins are actually melted these days - they're worth more intact.

 

Those were the prices at 11AM Sunday morning.

 

We are questioning it since they were worth about 30x face then for melt. 10x seemed very low, and I am sure there are hundreds of members here who would have bought all they could carry at that price.

 

At only 10X face for 90% US silver, I certainly would have been in a buying mood

 

Someone is barking up the wrong tree with those prices. Must be mistaken price quotes. just my 2 cnts.

 

+1 lol

 

Maybe it's one of those "old prices" that when questioned, the price is much higher.

 

As had been said before, large quantities of silver is difficult to store. :evilGrin:

So I say: SLV


http://finance.yahoo.com/q?s=SLV&ql=1


g.

 

I am curious to find out why those of you that said you would buy a ton of silver if it fell back to $15 didn't buy it when it was at or below $15 over the past 30 years, which actually was most of the time from 1981 through 2006 ... and again in 2008 and parts of 2009.

(Or maybe you did?)

Was it that the recent rise made you realize how great an investment it was and you never realized it before? ... Or that after getting close to $50 this year, $15 seems like a relative bargain? ... Or that a few years ago you didnt think it would ever get above $20, so why buy at $15 and now you realize that it could go up to $30, $40, $50?

I think this must say something about human nature and the psychology of investing.