How low will it go?

[Novapax]

Any guesses on how low silver will get this year? I see it hit my alert mark of 27.50.

Time to buy may be soon!


Novapax

 

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[d2arcing]

idk but that is sad to see, wish I sold off a bunch that I would be able to rebuy for profit...

 

[Novapax]

That's true. Most places around here sell a dollar or so over and buy at a dollar or so under.

The place I use to buy bullion at is sneaky. With a drop like today, they will pull everything out of the case. They will probably buy at 1.50 to 2.50 under spot. Keeps them from loosing money I guess.


NP

 

[Generic_Lad]

The problem is, the paper price will likely not be supported by the price to buy physical metal at.

Most of these "drops" are just drops in the paper price, its unlikely that you will be able to find physical silver at $27/28 an oz, instead the real price is something closer to $30/oz.

 

[jd750707]

I've been buying Eagles right and left with things under $30...

Heck, Platinum price is the same as gold as of right now

 

[BuffaloBoy]

I am hoping it will drop below $20/oz, this will make CRH less profitable, however, will decrease our competition.
hh

 

[CoinFetcher]

I just saw the big dip today - wow - provident metas has eagles at 30.70

5 dollar shipping if I am not mistaken....hmmmm.

maybe I swing by the coin shop today..

 

[ArkieBassMan]

I would love to see it back into the single digits! I don't think it will fall that far though, but I see no reason for it to jump back up into the $40's anytime soon either.

 

[Coppercrazy]

I was going to buy a 2013 ASE, but shipping is $6. What the heck? I can't afford to buy like 3 or more, to make it more profitable.

 

[nube250]

If it was up to me we would still use the 15:1 ratio from 1792..
Silver $50
Gold $750

 

[CladSmoke]

I stopped at my LCS today to pick up some junk silver Morgan's. he was all out. He usually has a couple rolls for me to look thru. I was ready to pounce on some cheap AG.

 

[CoinFetcher]

I got three ASEs for 29.50 each - plus the 21 gram silver spoon I won in the auction board for 5 bones.

 

[Novapax]

I'm really thinking about tossing 500.00 or so of my 2000 CRH monies out for some bullion.


I have a friend at work that wants to invest in silver because he doesn't want all his money tired up in a bank. Now would be a good time. I'm not sure how to give him the ins and outs of investing in PM's. He asked if he'd lose money. Not sure I can answer his question.


NP

 

[ElectroHouseR]

I'm really thinking about tossing 500.00 or so of my 2000 CRH monies out for some bullion.


I have a friend at work that wants to invest in silver because he doesn't want all his money tired up in a bank. Now would be a good time. I'm not sure how to give him the ins and outs of investing in PM's. He asked if he'd lose money. Not sure I can answer his question.


NP

In the short run, yes.....Long run, nope. If he buys it at $27 an ounce right now ($26.93 right now....11:52pm PST), then that $27 will become $34, $36, $40, $100, even $500...in the long run. If he buys it for $27 then yes he might lose money tomorrow because the price might go down to $25 an ounce. BUT that does not mean he shouldn't have at least some silver.
I don't expect it to jump to $50 an ounce tomorrow, or the day after...UNLESS, a war breaks out or the dollar goes down the drain, which will happen sooner or later. I rather have silver than lose all my money.
I'm coming from an ex-Soviet Union country. Our currency went down the drain and almost EVERYONE lost their money. I remember playing with a stack of money when I was a kid. This happened around 1991 if I'm not mistaking. The smart people bought a house, a car, jewelry, gold, silver, other currencies and retained their wealth. My family lost A LOT of money.

What's better....to have a $100 bill or $100 worth of silver? If that $100 bill turns into toilet paper, then you'll still have silver, which will still be money. Last time I checked, silver has been REAL money for the past 6000 years.

Yes, we do need $100 bills to pay our rent, food, bills, and everyday expenses....BUT, I rather have some silver, than have nothing at all!
That's also why I have guns and ammo. I rather have a gun to protect myself than call 911 and wait 10 minutes for them to come and take a pictures of a body.

 

[Novapax]

In the short run, yes.....Long run, nope. If he buys it at $27 an ounce right now ($26.93 right now....11:52pm PST), then that $27 will become $34, $36, $40, $100, even $500...in the long run. If he buys it for $27 then yes he might lose money tomorrow because the price might go down to $25 an ounce. BUT that does not mean he shouldn't have at least some silver.
I don't expect it to jump to $50 an ounce tomorrow, or the day after...UNLESS, a war breaks out or the dollar goes down the drain, which will happen sooner or later. I rather have silver than lose all my money.
I'm coming from an ex-Soviet Union country. Our currency went down the drain and almost EVERYONE lost their money. I remember playing with a stack of money when I was a kid. This happened around 1991 if I'm not mistaking. The smart people bought a house, a car, jewelry, gold, silver, other currencies and retained their wealth. My family lost A LOT of money.

What's better....to have a $100 bill or $100 worth of silver? If that $100 bill turns into toilet paper, then you'll still have silver, which will still be money. Last time I checked, silver has been REAL money for the past 6000 years.

Yes, we do need $100 bills to pay our rent, food, bills, and everyday expenses....BUT, I rather have some silver, than have nothing at all!
That's also why I have guns and ammo. I rather have a gun to protect myself than call 911 and wait 10 minutes for them to come and take a pictures of a body.

Well said. I'll use your statement here to answer his questions.

NP

 

[ElectroHouseR]

Well said. I'll use your statement here to answer his questions.

NP

It's more like a "solid" way of preserving your wealth rather than making an investment; however, silver will be an investment one day.
An ounce of silver was $4 in 1991....It's $27 now.
If you bought $1,000 worth of silver in 1991 and saved it, then you would of had $6750 today. If you had $1000 in paper money in 1991 and saved it, then you would of had $1000 in paper money today.

Also, buying silver is always a good thing. If you bought $1000 worth of gold in 1991 (about $350 an ounce), then you would of had about 2.8 ounces, which is around $4480 today. What's better...... $6750 or $4480? That's why I only have 1 gram of gold! haha

The best way of buying silver is taking $27 or $30 from your paycheck and ordering an ounce of silver (coin shop, or online with free shipping). Don't drink coffee for a day and get yourself some silver. Your kids will thank you later

 

[fistfulladirt]

my kids want fiat.

 

[Novapax]

It's dropping again today. I'm almost ready to pull the trigger and dump half my CRH money. I will still do the same amount just spread out.

Humm....what to do!

NP

 

[Walla183]

It's dropping again today. I'm almost ready to pull the trigger and dump half my CRH money. I will still do the same amount just spread out.

Humm....what to do!

NP

My LCS still has ridiculous prices. Asking $14 each 90%, $4 each for Merc Dime. I have a feeling he bought most during the great rise and is stuck holding onto huge amounts of inventory.

 

[minkybodl]

The price of silver will go as low as JPMorgan needs it to go with their massive naked short positions that the Government Regulators do nothing about until there is enough physical buying pressure to again force the prices upward. When more Banks start grabbing others people money instead of just Cyprus, I would think they might be moving to something else rather quickly. How low will it go depends on how long will the house of cards be able to not fall.