Ouch, silver taking a bit of a hit

[Emperor Findus Cladius]

As of 7:09 Central time, it is at 13.05

 

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[wildrider]

That's why you dont invest in just one thing.

Sometimes ya win...sometimes ya lose.

Burt

 

[GPURS]

Hey Wayne, I tell ya that I'm not really upset with the drop in silver. It's really a win, win situation. I have always accumulated my silver at face (crh), however I've decided that if silver gets down to a spot of around $10 or under, I'm gonna start buying! This stuff is just like stocks in that you buy low and sell high. If the price drops you can buy at really good prices, and if the price goes up so does your net worth! Win-Win! The guy that owns the coin store I go to says that he does not expect silver to ever go back below $10 oz. He's been around awhile and knows a lot of people in the business so I respect his informed view. Of course, he did'nt exactly think that silver would be busting through the $20 level any time soon either. But, it is fun to speculate. Good luck and HH!

 

[kevo]

Agreed!!! I can't wait for it to dip down a bit so I can start buying it up. I figured I'd buy about a grand worth, hang on to it for a bit, or until it goes back up, and then sell just enough to cover what I spent and keep the rest. Like he said, it's a win-win situation.

 

[fiatboy]

No surprises. This might be the annual summer bop. And just to remind people, precious metals might be a good investment---who knows?---but they are the very best store of value. Over the long run, every fiat currency---i.e. a currency not backed by anything tangible, only the promise of the whoever is making it; for example, the U.S. dollar---inevitably loses its value, whereas precious metals always retain their value. Also remember that the price per oz. of silver or gold or wheat or widgets or whatever not only reflects the demand of the item, but also reflects the strength of the currency in which the item is priced. People always mention that gold has risen from $250 per oz. in 2001 to $670ish today, and that it's outperformed the stock market the last five years, and silver has done even better. But don't forget that the U.S. dollar has also lost it's value against just about every other currency in the world in that same time period. In other words, prices are a two-way street, yet people are accustomed to thinking only in terms of dollars because the dollar has been the de facto "gold standard" since the end of WWII. When I deal with bullion dealers in other countries, I'm always amazed at how the price of gold and silver in various currencies don't always reflect current exchange rates, even though they ought to. In other words, currencies, including the U.S. dollar, are just as volatile as the prices of precious metals. We may not feel the volatility as greatly as people in other countries, because we rarely deal directly with other currencies. Again, it's a two-way street. Nevertheless, it's always a bit of a sting when silver goes down. But I get a kick out of some silver investors. There's this certain type that is eternally optimistic. They buy silver because they think it will go up in value. When it does, they're happy. When it goes down, they're also happy, because now they can buy more silver at cheaper prices. What other investor is happy when their investment goes down in value? I admire that confidence. And admittedly, I'm a believer in silver, too. I just think it will take a while. And coin roll hunters have found a way to beat the system by getting silver at less than the spot price, which to me is more profound than you guys all realize. And for some people, the hunt is the best part! Personally, I do it for the hunt. I can't wait to hit the banks today! HH!

 

[Jeffro]

No surprises. This might be the annual summer bop. And just to remind people, precious metals might be a good investment---who knows?---but they are the very best store of value. Over the long run, every fiat currency---i.e. a currency not backed by anything tangible, only the promise of the whoever is making it; for example, the U.S. dollar---inevitably loses its value, whereas precious metals always retain their value. Also remember that the price per oz. of silver or gold or wheat or widgets or whatever not only reflects the demand of the item, but also reflects the strength of the currency in which the item is priced. People always mention that gold has risen from $250 per oz. in 2001 to $670ish today, and that it's outperformed the stock market the last five years, and silver has done even better. But don't forget that the U.S. dollar has also lost it's value against just about every other currency in the world in that same time period. In other words, prices are a two-way street, yet people are accustomed to thinking only in terms of dollars because the dollar has been the de facto "gold standard" since the end of WWII. When I deal with bullion dealers in other countries, I'm always amazed at how the price of gold and silver in various currencies don't always reflect current exchange rates, even though they ought to. In other words, currencies, including the U.S. dollar, are just as volatile as the prices of precious metals. We may not feel the volatility as greatly as people in other countries, because we rarely deal directly with other currencies. Again, it's a two-way street. Nevertheless, it's always a bit of a sting when silver goes down. But I get a kick out of some silver investors. There's this certain type that is eternally optimistic. They buy silver because they think it will go up in value. When it does, they're happy. When it goes down, they're also happy, because now they can buy more silver at cheaper prices. What other investor is happy when their investment goes down in value? I admire that confidence. And admittedly, I'm a believer in silver, too. I just think it will take a while. And coin roll hunters have found a way to beat the system by getting silver at less than the spot price, which to me is more profound than you guys all realize. And for some people, the hunt is the best part! Personally, I do it for the hunt. I can't wait to hit the banks today! HH!

What he said-


That describes me to a tee. Time to buy!

 

[scotto]

Let it drop drop drop, the dip before the rise is all this is. I hope it hits $8.00 so we can load up.
If some of these forecasters are right, it is still going to zoom up later this year.

 

[GPURS]

Fiatboy, thanks for the insight! It is good to have input from someone who is apparently in the trenches of bullion markets! Crh is indeed such a great way to be involved in two hobbies at once. You get to play (or learn about silver markets), as well as delving into the world of numismatics! Not to mention, getting all of the great information from many of the interesting people on this board. Thanks and HH!