Silver @ $19.66 oz will it break $20

[RIcoinhunter]

Silver has been on the rise all week.Think it's going to clear $20 an Oz?

 

Amazon Forum Fav 👍

Diving for Pleasure and Treasure - Grab it through Amazon!

[AGCoinHunter]

Does a bear crap in the woods?

 

[Hi Ho Silver!]

I'm waiting until I see $25.00 before I unload any silver.

 

[silvercop]

i will unload all my 40's at 22.00/oz will hold out on the 1964's. no plans to sell the bens walkers and barbers.

 

[jim4silver]

The real question is will it stay over 20 bucks for any period of time. It will probably go over 20 soon but not stay there.

I predict that we will have another big stock market correction this fall, that will drag gold and silver down with it like it did in March 2008 as big traders unload their profitable positions (gold and silver futures, etfs) to cover the losses they are facing in the stock market. Will be another good buying opportunity though before the really big take off in gold and silver later on. I actually hope it drops a lot because I want to buy more silver.

Just my 2 cents.

Jim

 

[timbobwey]

I think Jim is right, it will break 20, and maybe go up a litt more, and then drop. I too hope it drops, I want to buy some for cheap. I remember in January and February it kept going back down to $12, then up to $18, and then back down...... and over and over till it kept steady aron $18. Just gotta wait till it drops and buy some right away.

 

[jeff of pa]

I'm a Little Hesitant to say yes it will Rise.

The Silver Sellers have been trying their best to
make people believe Silver is worth paying a premium for
& Predicting big Climbs.
However I Don't see it happening.
IF It does manage to peek over
$20. I say it will be during a paranoia
Buying Frenzy due to a Major Storm
in the gulf, then after a fast profit
taking by the Manipulators,
it will drop back to $18.00 ish

 

[Rich Hartford]

Don't know how high it will go,but I don't think we will see it under 18.00 .
HH
Rich

 

[FreedomUIC]

Traded in $80.00 face in 90% and roughly $15 or so dollars in Dimes and Quarter yesterday. Came out of the 'ye ole coin shoppe' with over $700.00 in cash. Naturally I had to buy a 1/4 oz South African Soverign, NGC MS63 with some
of the money.

The owner (Good friend of mine) said that people had been buying gold and silver in his shop all week at extreme levels. Everyone of his cronies (Three Coin Shoppes) that he is aligned with have heard that Silver is going way above $20.00 by the fall and it way stay there. He said that alot of dealers are paying a premium for silver and sending it to China right now. I wanted
to get $100.00 worth of silver rounds and he had already sold over 14 tubes just that morning Said his next box will
come next week....

 

[jim4silver]

Everyone of his cronies (Three Coin Shoppes) that he is aligned with have heard that Silver is going way above $20.00 by the fall and it way stay there. He said that alot of dealers are paying a premium for silver and sending it to China right now.

For now at least, the silver prices are generally set by the futures market. The buying and selling of physical at coin stores, etc, generally sets the premium paid on the physical. An example of this is when silver fell to 9 or 10 bucks per ounce in 2008 but to buy it the dealers wanted 2 to 3 bucks (or more in some areas) premium on average generic one oz rounds/bars. I don't think we will see prices that low again, but if there is a big drop I would imagine the dealers will jack up the premiums like they did before.

One misconception many have about coin dealers and how they price is that when prices dive they won't sell at current market prices because they themselves bought at a higher price before the price drop. But in reality they go by their replacement costs, not so much what they paid. The average coin dealer will take a loss on a product to sell to you if they know they can replace it at a cheaper cost. When the prices drop real fast, nobody shows up to sell that low (at least for a while), so the dealers jack up the premium because they know if they want to replace what they just sold you, they will have to pay a higher premium from potential sellers to get them to part with their silver/gold.
This is why it is sometimes better to deal with a coin store/dealer who has a huge business, because it is easier for them to move inventory both buying and selling, and hopefully their premiums stay more consistent in a dropping market.

I have not heard of dealers where I live paying more for silver lately from my conversations with them, and average generic one oz bullion can be had for average premiums.

If the big buyers ever started demanding delivery on the futures market and defaults on delivery started happening, then it could drive the paper price sky high along with high premiums. I believe this scenario might eventually occur in both gold and silver sometime before the current bull market in PMs ends.

Jim

 

[jrf30]

Silver has been on the rise all week.Think it's going to clear $20 an Oz?

The question isn't whether it will break $20 or not. It is WHEN it will break it.

Today? POssibly, with it now at $19.89. Possibly not. Next week? maybe. By this time nesxt year? Probably! And when the reality of the shorts hits the market place and they need to cover, undoing hte undue pressure they have been putting on silver? OR when the dollar crashes and is worthless, thus making ALL products worth much more than they are worth today? $20 will be a distant dream! It will be MMMUUUUCCCHHH higher. IMHO

 

[silvercop]

it's at 19.92/oz right noe

 

[sensesfailed069]

I see Silver hitting high 21s low 22s before taking a dip down for a bit which will hopefully make for a good buying opportunity before it shoots back up.

 

[silvercop]

looks like it closed today at 19.90/oz according to coinflation. guess the markets will be closed monday for labor day so i guess we will just have to wait until tuesday to see if it goes over 20

 

[joad]

Traded in $80.00 face in 90% and roughly $15 or so dollars in Dimes and Quarter yesterday. Came out of the 'ye ole coin shoppe' with over $700.00 in cash. Naturally I had to buy a 1/4 oz South African Soverign, NGC MS63 with some
of the money.

So, what did he pay you for your coins if you don't mind me asking?

Joad

 

[fistfulladirt]

Traded in $80.00 face in 90% and roughly $15 or so dollars in Dimes and Quarter yesterday. Came out of the 'ye ole coin shoppe' with over $700.00 in cash. Naturally I had to buy a 1/4 oz South African Soverign, NGC MS63 with some
of the money.

The owner (Good friend of mine) said that people had been buying gold and silver in his shop all week at extreme levels. Everyone of his cronies (Three Coin Shoppes) that he is aligned with have heard that Silver is going way above $20.00 by the fall and it way stay there. He said that alot of dealers are paying a premium for silver and sending it to China right now. I wanted
to get $100.00 worth of silver rounds and he had already sold over 14 tubes just that morning Said his next box will
come next week....

So you were given about 8 x face for the 90%?

 

[quiksilver]

Long term i think it will rise better then gold. Silver is like gold in the real money aspect but unlike gold it has many other uses. Supposedly more silver is currently being used up then is being mined. If this is true there will come a time where no amount of manipulation could keep the price down. But again that is my long term prediction. [ not mine actually but it is the one i agree with]

 

[AGCoinHunter]

Broke $20 this morning. Now lets see if it will close over $20.

 

[FreedomUIC]

Traded in $80.00 face in 90% and roughly $15 or so dollars in Dimes and Quarter yesterday. Came out of the 'ye ole coin shoppe' with over $700.00 in cash. Naturally I had to buy a 1/4 oz South African Soverign, NGC MS63 with some
of the money.

The owner (Good friend of mine) said that people had been buying gold and silver in his shop all week at extreme levels. Everyone of his cronies (Three Coin Shoppes) that he is aligned with have heard that Silver is going way above $20.00 by the fall and it way stay there. He said that alot of dealers are paying a premium for silver and sending it to China right now. I wanted
to get $100.00 worth of silver rounds and he had already sold over 14 tubes just that morning Said his next box will
come next week....

So you were given about 8 x face for the 90%?

Yes, 8x face on the 90% and a trade. (Naturally I had to buy a 1/4 oz South African Soverign, NGC MS63 with some
of the money.) @ a very nice discount(part of the trade).....

 

[SFBayArea]

The price just seems to be tied to the stock market. Seems like the majority of days where silver gains is when the stock market is up. That's just my observation at least.