Discouraged

[FreedomUIC]

Finding nothing in the last 12 boxes has got me wondering if CRH is even worth it now. I can take the money that I am using
and just buy silver. I truly believe that in the next five years it will crest at around $50.00 an ounce and bounce between 40 and 50 for the next couple after that.

The reasoning behind my belief is as follows:
1) China now allows their citizens to accumulate precious metals.
2) Industrial use of silver has crept up to the point where it will start running out in the next couple of years.
3) QE is going to make a big impact on PM's prices if implemented and it is sounding as if it is a certainty and not a wish.
4) There is only a few years worth of Silver in the earth's crust that we can get to, when it is gone it is gone.
5) I am a Silver Bug....

I know that some may think my reasoning unsound, but to me it makes perfect sense. I am finding nothing in the boxes
like I used to and it is getting costly considering time and gas to dump and pick up new to sort.

What does everyone else think?

 

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[quiksilver]

Unless you live near me keep searching and buying silver. All but #4 are true. Just when they will have us believe there is no more they will find more some how. Either new mines or new ways to mine. Remember as silver goes up so does the value of ming hard to reach areas.

 

[AGCoinHunter]

While there are good finds I see posted here and there I have noticed a significant drop in finds over the last month or so. Finnally found my first silver last Friday in over a month. I am sure this eventually will weed out those searchers who are in it for the quick buck after finding skunk after skunk.
As far as accumulating silver I have been making a point of buying a little each month with my extra cash. I try to buy the purest (.999) I can get closest to spot. I will pick up junk 90% if its priced right also. But I don't think you can go wrong dollar cost averaging your purchases. I figure with what I find at face and what I buy I am doing pretty well. Will silver make it to $50 an ounce? Wouldn't supprise me but remember the silver market is very small in comparison to everything else and can be manipulated very easily by those who make the markets. Don't count them out yet as to letting this bull run too long.
It also is my understanding that there are very few mines dedicated to mining silver as silver is usually a byproduct of other mining activity. If it jumps up in price you bet new mines will be found and opened solely dedicated to silver.
Economic uncertainty has the silver and gold bulls out and running. Guess a lot of this is going to depend on if the fiat currencies hold up or if we end up with massive inflation and multiple sovereign debt failures. Things are looking that way but don't discount the power the central bankers hold in trying to reign this thing back in.

 

[jim4silver]

Unless you live near me keep searching and buying silver. All but #4 are true. Just when they will have us believe there is no more they will find more some how. Either new mines or new ways to mine. Remember as silver goes up so does the value of ming hard to reach areas.

I agree with Quiksilver. There is no way to know exactly how much silver is left in the ground. Many mines shut down when silver prices were so low 10 years ago and before because it was not worth it to mine. But with silver prices going up the profits will come back.

Also, I don't believe the notion put forth by some pundits that there is less silver above ground than gold. This might change years and years down the road if industrial use really ramps up, but up to this point there has not been so much industrial use that the supply would be completely eaten up.

That said, I still think for the next 5+ years silver is going to be one of the best investment bets a person can make.

Jim

 

[FreedomUIC]

Thanks for all the input.

I have switched banks after getting skunk after skunk. The new bank is in a new district and was hoping to find at least 1 40%
but it was not to be. I plan on giving the bank a couple of months and then have a decision to make.

 

[Rich Hartford]

Finding nothing in the last 12 boxes has got me wondering if CRH is even worth it now. I can take the money that I am using
and just buy silver. I truly believe that in the next five years it will crest at around $50.00 an ounce and bounce between 40 and 50 for the next couple after that.

The reasoning behind my belief is as follows:
1) China now allows their citizens to accumulate precious metals.
2) Industrial use of silver has crept up to the point where it will start running out in the next couple of years.
3) QE is going to make a big impact on PM's prices if implemented and it is sounding as if it is a certainty and not a wish.
4) There is only a few years worth of Silver in the earth's crust that we can get to, when it is gone it is gone.
5) I am a Silver Bug....

I know that some may think my reasoning unsound, but to me it makes perfect sense. I am finding nothing in the boxes
like I used to and it is getting costly considering time and gas to dump and pick up new to sort.

What does everyone else think?

There are people that have skunked out on 50 boxes and more. They never give up which is why they catch a lot of silver.
I myself finally gave up my Friday's 8 boxes because I was getting too many skunk boxes. I just picked up another bank to replace it.
It is never a good idea,and in fact is foolish, to buy silver when you can get it for practically nothing from CRHing. The only exception would be if you have extra FRN's that you want to get rid of,are a coin collector,or are out of the CRHing game.
At some point in time the jig will be up for me. The coin roll game over because of loss of supply banks,or more likely,dump banks.
At that point I will buy a small amount of silver in denominations that I don't have,or have little of. A sort of survival coin bank.
What I will do on a regular basis is buy gold. I already trade in my Crhing silver for gold.
I have more faith in gold at this time than I do in silver. I know there are many industrial uses for silver. The question is who will buy these products when the worlds money is worthless?
So I would not be too hasty in giving up.Just change tour strategy. In the couple of years that I've been CRhing I've wanted to give up a couple of times. In fact I gave up on road trips because I just plain did not like it. To be honest although I do well enough to be satisfied,I'm tired of doing boxes and dumping as well,however I'll stick it out until they(banks) throw me out.
HH
Rich

 

[BttleDiggerDrew]

Imho, I think its a stretch 1-5, especially on the China point, they still are a communist country where private property is verboten.. Being discouraged is natural, but when you think you are failure is a precursor to giving up..... that being said "The successful person makes a habit of doing what the failing person doesn't like to do."

 

[jim4silver]

Imho, I think its a stretch 1-5, especially on the China point, they still are a communist country where private property is verboten..

Actually this is not true. Somewhat recently (2009), the Chinese gov changed their position on letting the people own PMs, and chinese state TV is broadcasting commercials urging the people to buy PMs, especially silver. Chinese are big savers compared to us, and this could have a nice impact on the demand side of silver for investment purposes as time goes on. There are articles on this with photos if you google search it, showing the various silver bars the gov is selling to the people there.

Jim

 

[BttleDiggerDrew]

Imho, I think its a stretch 1-5, especially on the China point, they still are a communist country where private property is verboten..

Actually this is not true. Somewhat recently (2009), the Chinese gov changed their position on letting the people own PMs, and chinese state TV is broadcasting commercials urging the people to buy PMs, especially silver. Chinese are big savers compared to us, and this could have a nice impact on the demand side of silver for investment purposes as time goes on. There are articles on this with photos if you google search it, showing the various silver bars the gov is selling to the people there.

Jim

Then buy platinum..

 

[Hi Ho Silver!]

Imho, I think its a stretch 1-5, especially on the China point, they still are a communist country where private property is verboten..

Actually this is not true. Somewhat recently (2009), the Chinese gov changed their position on letting the people own PMs, and chinese state TV is broadcasting commercials urging the people to buy PMs, especially silver. Chinese are big savers compared to us, and this could have a nice impact on the demand side of silver for investment purposes as time goes on. There are articles on this with photos if you google search it, showing the various silver bars the gov is selling to the people there.


Yep China will have a HUGE impact on the PM market!!!!!!!!!!! NO QUESTION!!!!

Jim

Then buy platinum..

 

[jim4silver]

Imho, I think its a stretch 1-5, especially on the China point, they still are a communist country where private property is verboten..

Actually this is not true. Somewhat recently (2009), the Chinese gov changed their position on letting the people own PMs, and chinese state TV is broadcasting commercials urging the people to buy PMs, especially silver. Chinese are big savers compared to us, and this could have a nice impact on the demand side of silver for investment purposes as time goes on. There are articles on this with photos if you google search it, showing the various silver bars the gov is selling to the people there.


Yep China will have a HUGE impact on the PM market!!!!!!!!!!! NO QUESTION!!!!

Jim

Then buy platinum..

Guess I don't get the humor here. It is actually bullish for silver that a country of over a billion people are putting their money into it.

You can keep the platinum, I'll take gold and silver.

Jim

 

[apush]

Freedom,
Yes. It is worth it. I have had a ton of skunks in a row and many a times thought to heck with this, then . . . I get a decent box and continue onward. The holidays are around the corner--stick with it. Your ship will come rolling in. I never thought I would ever see so many Bens as I did last week. This is about luck, not strategy. Remember, this is a slot machine where you don't loose your investment.

apush

 

[FreedomUIC]

Freedom,
Yes. It is worth it. I have had a ton of skunks in a row and many a times thought to heck with this, then . . . I get a decent box and continue onward. The holidays are around the corner--stick with it. Your ship will come rolling in. I never thought I would ever see so many Bens as I did last week. This is about luck, not strategy. Remember, this is a slot machine where you don't loose your investment.

apush

I have never heard it put that way before. Thank you, that just got me motivated again.

 

[BttleDiggerDrew]

I guess some people's humor is so dry, it makes the British yawn..

 

[$ilver$urfer]

FreedomUIC,

Santa will be bringing you a big present sometime very soon!!! Hang in there!

HH,

$ilver$urfer

 

[Bigj5731]

If you have the money.....do both. I buy silver when I can get it cheap enough and I also look through boxes so I can get some 40%ers and cash them in for some 90%ers.

-bigJ