What is up with the crash in silver prices

As people in the hedge and 401K funds continue to flee the mkt, gold and silver will continue to drop. Not because of any other reason than the need for cash, of the fund mgrs. They (gold and silver) may bounce up very nicely once the fear mongering has left the mkt place.

 

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Its funny, my dad pointed out when dubya talked about the economy a few weeks ago, gold jumped 100 bucks.

 

Here's what I don't understand.. .

They say you can buy silver in bulk at spot prices, around $11 an ounce. And it's true, you can buy 1000 oz bars of silver on kitco.com for just around that price.

So why is it that the mint isn't buying large amounts of 1000 oz bars, making ASEs out of them, and collecting a tidy profit?

 

I could be wrong but I think a good chunck of the silver comes from Fort Knox.

Ruben

 

I believe the Federal Government completely sold the strategic stockpile of silver a few years back. They just purchase the blanks but I forget the name of the company that makes them for the Mint.

 

I seem to remember that the blanks came from Silvertowne , not sure if they are the current holder of the contracts. Or maybe heard wrongly.

Jim

 

Ok, get ready to say goodbye to double digit prices on silver.



look at how the price spikes down and kisses $10.00. It seems to WANT to break down.

 

Look, it spiked down to $10 again. I am watching this one.

 

I am going to grab my roll of eagles soon.

 

Hows $9.86 grrrrrrrrrrrrr

 

It is a blessing for silver collectors that so many people still aren't aware that the spot price is established on the futures exchange for the settlement of contracts in cash. People notice that the price for coin silver is higher than spot, but aren't yet aware of the reasons for it. This will probably change soon.

 

Now we are talking about some decent price correction after the oil prices fell hard.

Remember guys, oil prices have an impact on mining operations (and everyone else) which directly correlates to operating costs, which in turn impacts the overall cost passed down to customers, which are you.

 

Here's the latest:




Silver prices dropping is only good for the buyer. Once the investment is in
tact, all the purchases have been made, then it's called your investment
portfolio. You need the prices to climb, thereby stableizing your retirement.
In this case, people now don't know where to put their hard earned money.

 

Don't worry unless you MUST liquidate in the next year. Just do not sell into this market.

 

That's exactly right. Most people don't think about it that way, but falling prices are better than rising ones for anyone still in the accumulation stage, as are most coin collectors. Particularly when talking about things like silver coins and rounds. This isn't the first money you are going to spend. It's probably the last. So belly-up to the bar and buy while it's cheap and pray that it gets cheaper until you have so much that you don't want any more.

Then it is time for the price to rise.

 

Just try getting close to melt for anything on eBay... it won't happen.

And forget about any type of bullion too... eBay never would be my first choice for Maples or ASE's, but the prices are usually still in the $18 range (minimum).

 

looks like a new ceiling is developing at $10.00. Lets see if it holds.

 

less than 10$, its ridiculous...

guess I'll have to buy some...

 

:thumb: Waiting for it to balance the physical with the spot. Give it 3 weeks and if were lucky the eagles will be at 15 bucks.

freaky