Will you still hunt when silver hits $4 per ounce?

[jewelerdave]

Just wondering if anyone would still hunt if silver came crashing back down to $4 an ounce.
This would make a 90%er worth about a $1.50 and a %40er worth about 60 cents.
$3.40 silver would make a %40er worth Fifty cents. At least there is that protection right?

If the powers that be decide to make everything fine again after they take so much....what would this do to commodity prices.

Think about this, In the last couple months silver has fallen about $6-$7 per ounce.

Sitting at about $11 today....in a couple months what would you do if the price of silver slipped yet another $6-$7 per ounce?...because everything will be fine right?

What if the democrats win and bring back a powerful 1990s type economy? $1 a gallon gas, $5 silver...and maybe $15 to $20 per hour minimum wage.

Would people still hunt or would the old coins stack up in warehouses.

Reason being, Things always get better. This is nothing compared to the depression or WWII

would you sell your hord...or dare I say it...deposit it!

 

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[BBcardsRI]

I'm beginnign to lose faith in silver personally. I just got out of a meeting I set up with a professor at my college (economics department) and she gave a grim outlook for silver. Fully agrees the price is manipulated but sees nothing that can be done about it. Her hubby works in the it/policy dept. of the Mint and he REALLY has a grim look on silver.

I was directed to a few different sources and such that I have to check out in the coming days... will see how they change my silver out look.

~Dave

 

[CaptainRobin]

Yup, Dave, I'd keep searching.

I'm in it for the long haul, and for nothing other than the silver. It ain't costing me squat to build the stash...

But what do I do with all these proofs and errors and key-type dates? They ain't silver, but I just can't release them back to the wild. Reckon I'll find a dealer soon-er-er-later that'll take 'em off my hands, and I'll just exchange 'em for common date silver.

Robin

 

[Mentone Grizz]

$4 per ounce would really take some of the shine off, wouldn't it?? It is easy to forget that it was in that general zone as recently as 5 or 6 years ago. However, when I look at the historical trends, November typically exhibits the lowest trading values of any given 12-month period. Silver and gold went of the edge of the cliff like lemmings over the last couple of weeks, but if you can put faith in the rhythms on record, we will be in for a rise very shortly.....very likely a steep one. I view the current market as the prime opportunity to make PM acquisitions. The results of the November elections will absolutely play into what happens next.....
- Grizz

 

[packfan_1982]

Just want to clarify right away that I'm not hoping that this will happen. One major terrorist attack or natural disaster can have quite an impact on the economy. Ike is already causing the temporary shutdown of oil refineries causing the price of gas to go up. PM's don't necessarily index the price of oil but when our economy is hurting PM's generally go up. There are alot of different articles/opinions about the current price of silver and whether or not it is being manipulated so its hard to get a clear picture. I personally don't think we will ever see gas below $2/gallon again (would love to be proved wrong on that one) and am hopeful that silver doesn't drop that much. In the end I turn my silver over pretty quickly as is, and have a good amount built up to remodel my house with. The true market price is reflected pretty clearly in an open market, and people are paying more than spot for silver and its hard to find anybody selling at spot.

 

[jim4silver]

Just wondering if anyone would still hunt if silver came crashing back down to $4 an ounce.
This would make a 90%er worth about a $1.50 and a %40er worth about 60 cents.
$3.40 silver would make a %40er worth Fifty cents. At least there is that protection right?

If the powers that be decide to make everything fine again after they take so much....what would this do to commodity prices.

Think about this, In the last couple months silver has fallen about $6-$7 per ounce.

Sitting at about $11 today....in a couple months what would you do if the price of silver slipped yet another $6-$7 per ounce?...because everything will be fine right?

What if the democrats win and bring back a powerful 1990s type economy? $1 a gallon gas, $5 silver...and maybe $15 to $20 per hour minimum wage.

Would people still hunt or would the old coins stack up in warehouses.

Reason being, Things always get better. This is nothing compared to the depression or WWII

would you sell your hord...or dare I say it...deposit it!

JewelerDave,

At those prices, I would no longer CRH. I would put that extra time into work so I could buy up all the cheap silver.

Let's face it. With the fed bailing out financial institutions and fannie and freddie, there is no way to avoid inflation. You cannot keep "borrowing" money from the fed (a term meaning create more fiat out of thin air) and not have infalation. All of those dollars gotta go somewhere, and dilute the current pool of dollars already out there. We may have stagflation, but deflation is not gonna happen for a long time in my opinion. The only caveat is if the fed decides to let all the failed banks and financial institutions fail and not save them, and increase interest rates. If they do that, a depression will happen real fast, but this fed has shown it will do anything to keep the illusion of a healthy financial system going. But I think the longer the fed keeps this going, the worse the eventual depression will be when it finally happens. At some point (after the bull market ends and all the inflating fails) we will have deflation and when that happens cash will be king (assuming the cash is a well respected currency by then).

Even if silver is being "manipulated", those manipulating it could decide to go long and manipulate in the other direction at some point, or physical demand could pick up to a point that the short sellers have to cover and get screwed.

No matter which person wins as president, I think it will be good for gold and silver. With one we could get more wars and involvement in middle east, and with another we will get lots more gov stimulus packages for the population and other inflationary projects.

I'm beginning to lose faith in silver personally. I just got out of a meeting I set up with a professor at my college (economics department) and she gave a grim outlook for silver. Fully agrees the price is manipulated but sees nothing that can be done about it. Her hubby works in the it/policy dept. of the Mint and he REALLY has a grim look on silver.

I was directed to a few different sources and such that I have to check out in the coming days... will see how they change my silver out look.

~Dave

Dave,

No offense to your professors, but I have learned that many if not most that teach at universities don't know much about the real world of whatever subject matter it is they teach. I saw this myself when I was in grad school. Theory and the real world are different. There is a saying "those that can - do: those that can't - teach".

Although none of us know for sure what will happen with gold and silver, history can be a good guide. Bull markets have always lasted longer than the one we have had so far. Most are at least 10 years, many are more than that.

Jim

 

[BBcardsRI]

Yes... I have read that about Bull markets as well. Minimum of 11 years and max of 17 I think.

One war or another it was interesting to hear her opinions, and I learned some cool stuff about the mint.

For example, they are only by law allowed to buy one month worth of PM at a time. That is... they can only buy what they will use in the next month. Because of shortage issues they are sidestepping this by buying a years supply at a time and then selling it to a holding company which they then settle up with each month as they buy it back at the updated prices.

~Dave

 

[nyiangelo]

i believe the theory that the other countries such as india and china are driving the price up. not to mention our own countries problems are. but we have to realize that our country isnt going to be the all alone anymore, india and china are exploding , read the article at coinflation.com . what other countries continue to do will affect the price the same that they will affect the gas prices in the long run. im on the band wagon that its gonna go up , ive been wrong so far thats just more for me to buy. big wigs can manipulate all they want but sooner or later they're gonna wanna get rich or the little mans gonna win. but yes if it became that cheap i would just buy it but still search it,

 

[packerbacker]

Dems win and we get $1 per gallon gas?......?....... . Dave, this may get moved to the politics forum.

 

[sfwusc]

Dems win and we get $1 per gallon gas?......?....... . Dave, this may get moved to the politics forum.

You can't have a strong economy and $1 gas anymore. I don't think. I think a strong economy would increase demand for gas...not limit it. The strong economy might remove investment demand for oil, but investment demand isn't causing the price to be the current $4.60.

A strong economy could cause silver to tank. I am really thankful that I sold most of my 40% over the summer. I have very few extra 90%.

-SWUSC

 

[mrs.oroblanco]

No matter what - I will still be detecting!!

B

 

[bigtime400]

Damn.... silver better go back up or I am going to be really pissed. Silver was highest when my grandma died and we had a new baby march 29th... our second. For those of you who have kids you will probably understand...... I wanted to sell but just never got around to it. Now its low......... I hope next spring its higher again.

Ive had bad luck lately.... Ive been looking at a metal detectors for a year or so.... I finnaly buy an SE and 2 weeks later Minelab comes out with the Etrac..... bastards.........

 

[Mentone Grizz]

bigtime400;
I pretty much did the same thing. But don't fret about it. That Etrac won't find coins any better than you SE will, especially with the SE Pro coil. It does just figure, though, doesn't it??
- Grizz

 

[jewelerdave]

Dems win and we get $1 per gallon gas?......?....... . Dave, this may get moved to the politics forum.

LOL, its a nice hope but yeah I know it wont happen.
The way I see it, no matter how many new forms of petroleum replacement we get...the stuff is just too darn useful for other things like plastics and other valuble chemicals.
I see a day...maybe in our lifetimes where petroleum is too valuable to burn for the majority of the public....or its only used where the energy density is required like for aircraft or as an additive to other types of fules...or it only takes a minority to some other form of fuel.

Fascinating times we are living in...so many unknowns.

 

[mrs.oroblanco]

Remember, regardless of current prices - at least silver and gold will ALWAYS be worth something. Unlike most everything else.

Keep on detecting!

B

 

[GMan00001]

The price of silver will have no impact on my CRHing as I don't do it for the silver.

 

[bigtime400]

The price of silver will have no impact on my CRHing as I don't do it for the silver.

what do you do? keep the bicentenials and throw the silver back?

 

[GMan00001]

The price of silver will have no impact on my CRHing as I don't do it for the silver.

what do you do? keep the bicentenials and throw the silver back?

I CRH to complete my collection. The price of silver has nothing to do with it. Yes, when its higher its a nice bonus, but it isn't why I do it in the first place. And if you look at most of my results you will see percentagewise I mainly search pennies and nickels....now there's an occasional war nickel in there and I have found a merc dime in some pennies, but otherwise not a lot of silver in either of those.

 

[davest]

yes, I'll still hunt, and when I'm lucky enough to find silver, I'll put it in my loot box and wait. I figure it didn't cost me anything to get except for the detector and my time, so..........................................why worry.

BTW, I'm sittin on about a half pound of silver in the way of rings and bracelets now, it really doesn't take up much space.

 

[firecrest789]

Yes I would hunt more often, people would be dropping coins like crazy. Also I don't think people do this for immediate turn arounds. I am only 28 when I am 68 and retire and have a stack of silver with general inflation they will be worth more then I paid .