How low will silver go?

[Goose-0]

I've been following silver for maybe 20 yrs. To this day, I believe silver (and gold) have been and are being manipulated. Lately, silver has been on a steady level between $16 and $18. But, I'm still stacking and got a son to begin with his budget of $200/month and he's now really into it. Also, I went into one of my safes that I haven't been into for neigh onto 2 yrs. I found (2) 10 oz bars and 119 silver rounds that I had forgotten about. I didn't have an inventory, but now I do after all of these yrs.

 

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[jim4silver]

I've been following silver for maybe 20 yrs. To this day, I believe silver (and gold) have been and are being manipulated. Lately, silver has been on a steady level between $16 and $18. But, I'm still stacking and got a son to begin with his budget of $200/month and he's now really into it. Also, I went into one of my safes that I haven't been into for neigh onto 2 yrs. I found (2) 10 oz bars and 119 silver rounds that I had forgotten about. I didn't have an inventory, but now I do after all of these yrs.

Goose-o,

On the issue of "manipulation" I am a bit divided. I used to proclaim that there is manipulation all the time because that's what the pro PM site pundits (you know the sites) always said. However, after looking at the issue over the past 10 years, I'd say silver/gold is no more "manipulated" than anything else.

To get to the point of "manipulation" that the constantly wrong PM pundits proclaim it would have to involve more than meddling in the paper markets (comex, etc). It would also require some sort of "mind control" over the masses that make them decide to not buy silver/gold.

Even if the paper prices are "manipulated" (being held down by big money sources all the time), that would not stop individuals from buying as much physical that they can buy at manipulated (LOW) prices. If that were to happen en masse, the so-called manipulators would lose control of the paper markets and would not be able to manipulate anymore, but that NEVER happens, no matter how many times the wrong pundits say the silver/gold supply is tight or low, etc. It is NOT. Premiums are cheaper now than I remember. One site is selling silver eagles for 29 cents over what the mint charges the primary brokers (who are at 1 step higher than the online store I am referring to). That would translate into minimal return, even with high volumes. That means nobody wants the crap, generally speaking, at least right now.

Personally, if I could go back in time and not become a PM bug I would do it. If the world collapses, your PM's will not save you.

PS The only real money I've made in PM's is acting more like a dealer flipping semi numis crap. The bullion itself, a big NOTHING. It would take silver hitting 100 for me to recoup the lost opportunity costs I've experienced keeping my $$$ in this crap instead of stocks, real estate, beanie babies, etc. over the years.

Just my opinion.

Jim

 

[Jason in Enid]

Come on Jim, you of all people know that silver is NOT a profit investment. It's a hedge against financial disaster. If the economy implodes, the PMs will become very expensive and easy to sell as common folks always wait until doomsday to buy. If its a TEOTWAWKI scenario, then bullets and alchohol are the best hedge, but PMs will become valuable long before re-stabilization of fiat currencies.

If you've been buying and flipping PMs, then you've been living with your head in the sand... or somewhere else.

PMs are also the only form of wealth you can literally bury, and sit on. Stocks are businesses and those can and do go bankrupt (bye bye $$$), realestate can be destroyed and you have to pay taxes on it year after year until you have spent a fortune holding something in the hopes the price will go up AND you can find a buyer (bye bye more $$$). PMs will never be worth $0 so there will always be $$$ to recoup if you later decide to sell.

True investment for retirement and beyond requires a professional portfolio manager and they are going to take a small %, plus the market can be bad for years so you have to be in it for the long term. It's not a game for the lay-person to attempt themselves.

PMs always have been and always will be a smart PORTION of your total holdings, but like everything else, it can't be the only thing.

 

[Goose-0]

You might be right J 4 S. I'm beginning to lean toward your thinking. As for your last paragraph, I too have been stung by my past silver actions and over time inflation has equalized any increased silver price I was hoping for. Real estate and stocks are more reliable for price increase. There are many stocks that are now paying over 5% dividends every yr. AT&T for one, is paying 7% dividends now, and has paid 5% or more, depending on that stock price.

 

[jim4silver]

Come on Jim, you of all people know that silver is NOT a profit investment.

If you've been buying and flipping PMs, then you've been living with your head in the sand... or somewhere else.

I never said I was an investment guru. I do like coins and have always had an interest in them. I don't need an after the fact lecture from you though. I wasn't asking for your advice.

I don't get your statement about my flipping coins? I do it for fun and profit and have made more in the little I've done with it than my other bullion. Problem is there is not enough of it (semi numis stuff) I can get cheap to make up for my bad investment decisions in silver bullion. If it wasn't for my flipping semi numis I would probably be at a loss overall with my silver. Plus I have a good time doing this when I get the chance.

I could sell all my silver now and would be at or above my basis with silver at the $18+ level. I might unload half, still deciding.


Jim

 

[Mackaydon]

Have you noticed the "Keep Stacking" crowd has all but disappeared?
Don......

 

[Jason in Enid]

Have you noticed the "Keep Stacking" crowd has all but disappeared?
Don......

LOL, I still am, but I don't advertise so others wont buy and run up the price, hahaha. I've been stacking since silver was $4.

 

[Marchas45]

Who the hell said we have disappeared, there's just nothing happening until now. And Don don't expect it to go down to $12.00 KEEP STACKING I am.

 

[usandthem]

STILL STACKIN' !!!!!!

 

[Mackaydon]

marchas,
I don't EXPECT it to go to $12, but if it does, I'll jump back in.
Meanwhile, I have been enjoying equities returning +5% for year--as my past posts have indicated.
Don...

 

[Jason in Enid]

marchas,
I don't EXPECT it to go to $12, but if it does, I'll jump back in.
Meanwhile, I have been enjoying equities returning +5% for year--as my past posts have indicated.
Don...

exactly! When the market is good, I hold my cash and enjoy the increase in my investments. When the market drops, I exchange cash for PMs. I win either way. I just got my dividend statement from one of my individually owned stocks. It just blows my mind. I started that investment in high school with $300 and dividend reinvestment. It's a 5 figure piece of my portfolio today and I've never put another penny into it.

 

[Goose-0]

Went to a very large coin show in Minneapolis Saturday (90 tables-?). Purchased more generic silver rounds for $18 each.......just 3.6% over spot. STACK, STACK !

 

[jim4silver]

It looks like the only thing holding PM's up is the threat of WWIII. That's pretty sad on a number of levels.

Jim

 

[Marchas45]

It looks like the only thing holding PM's up is the threat of WWIII. That's pretty sad on a number of levels.

Jim

\
I would question Jim, " What is holding down the PM's ? " MANIPULATION ?

 

[Goose-0]

YES, M-45 !!

 

[jim4silver]

\
I would question Jim, " What is holding down the PM's ? " MANIPULATION ?

I don't know Charlie. I think there are various manipulations going on at various times but there has to be more than just that keeping price down in a time where it should be much higher (various current scary world events, etc). I think a lot of capital is tied up in the stock markets, etc. We could see a run into PM's if things keep heating up like North Korea, etc.

But for real sustained movement upward we need more DEMAND like we saw during all the QE's when everyone said it would lead to inflation, etc. The big money boys can move a market in any direction they want (manipulation if you like) but they would be powerless if silver or gold became popular again among all types of investors, not just gold/silver bugs like many of us here.

I think we are going to see some "bumper crops" of silver mining so to speak in the coming years. Zinc is up and much silver is found as a byproduct of zinc mining just like copper mining. Many of these mines aren't mining specifically for silver so what they find they will often dump into the market irregardless of the price of silver (they won't hold it for higher prices ,etc) it is kind of like free money for them. This is at least what a good friend of mine recently told me who has good connects in the mining world.

PS I picked up a few more nice 2015 Aus Koalas yesterday for $2 over melt that probably the same seller sold to one of my local stores previously. I guess I will keep buying that person's cool stuff that they dump if I can keep getting it cheap.

Jim

 

[Marchas45]

I believe we are going to see an upswing in prices next week. It seems as everything is falling apart. Keep Stacking
P.S. This week I'm looking at another Metal Detector, I miss the solitude Lol

 

[fistfulladirt]

I believe we are going to see an upswing in prices next week. It seems as everything is falling apart. Keep Stacking
P.S. This week I'm looking at another Metal Detector, I miss the solitude Lol

Which detector C? You are right nothing clears the mind more than a little dirtfishing.

 

[fistfulladirt]

World powers on edge. I expect prices to fall lol.

 

[Goose-0]

Not a chance. Silver is sitting at $18.52 (Kitco) and with all of the poor reasoning of pols (politicians), it will continue to advance.