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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[kfs]

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

The best way of buying silver in my humble opinion is buying a War nickel for 5 cent, a pre-1965 dime for 10 cents, a pre-1965 Quarter for 25 cents, a pre-1971 Half dollar for 50 cents, an actual "silver dollar" for a dollar or on those very rare occasions an American Silver Eagle for a dollar. But that is just me

 

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[Joe777Cool]

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.

How do they stay in business with those prices?

 

[Walla183]

The best way of buying silver in my humble opinion is buying a War nickel for 5 cent, a pre-1965 dime for 10 cents, a pre-1965 Quarter for 25 cents, a pre-1971 Half dollar for 50 cents, an actual "silver dollar" for a dollar or on those very rare occasions an American Silver Eagle for a dollar. But that is just me

I am going to somewhat disagree with this notion. Acquiring silver at the actual face value of the coin will always be the most cost efficient. However, this takes time and commitment. Some people would rather transfer currency risk for commodity risk. As noted earlier, any weakness in the dollar will drive commodities higher.

 

[jd750707]

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

That is what I have been doing exactly... Well put!!!

 

[billionaire]

Im going to be watching the prices and im gonna buy around $500 or a third of my hunting money and then im going to send it all to a bullion company(forgot the name) along with some of my finds. I would be making a small profit to go back into my hunting. This seems like the best plan in my situation.

 

[Will3133]

Read somewhere the reason for the big drop in silver prices is do to the amount of silver people have been buying this year. It says mint companies can't keep up with the amount being bought. Just an FYI for you guys. What it all really means I have no clue, but I'll take 27-28oz ALL DAY!

 

[Bad Wolf]

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.

My kids go to a small private school near Carmel with Mike & Chrissi Morgan's kids. Word is they're worth 2.5 billion. Pleasant folks. Nice clothes.

 

[ElectroHouseR]

The best way of buying silver in my humble opinion is buying a War nickel for 5 cent, a pre-1965 dime for 10 cents, a pre-1965 Quarter for 25 cents, a pre-1971 Half dollar for 50 cents, an actual "silver dollar" for a dollar or on those very rare occasions an American Silver Eagle for a dollar. But that is just me

Well there is definitely a problem with that. If you are gonna buy dimes, quarters, half dollars, and dollars for face value, then you have to look through all of them to find a couple of ounces of silver. That stuff is NOT unlimited. It's gonna run dry soon. There are wayyyyy too many people hunting for junk silver.
So for how long are you gonna buy those coins for face value and expect to find some silver in it? Not for too long, right? What are you gonna do after that? Ask the government to mint some more 1964 half dollars?

There are a lot of things that we don't need but still end up buying because we are addicts. I can live a nice and a happy life if I don't drink coffee for a day or a week.

 

[kfs]

Well there is definitely a problem with that. If you are gonna buy dimes, quarters, half dollars, and dollars for face value, then you have to look through all of them to find a couple of ounces of silver. That stuff is NOT unlimited. It's gonna run dry soon. There are wayyyyy too many people hunting for junk silver.
So for how long are you gonna buy those coins for face value and expect to find some silver in it? Not for too long, right? What are you gonna do after that? Ask the government to mint some more 1964 half dollars?

There are a lot of things that we don't need but still end up buying because we are addicts. I can live a nice and a happy life if I don't drink coffee for a day or a week.

It has not run out so far and the lower the price goes the more that will go back into circulation. I have collected a nice bit a change while watching TV in the evening. One heck of a better return than buying silver out right.

I have no problem with buying bullion coins or what have you and have bought some back some time ago but I going to continue to supplement my TV viewing time with CRH and until that faithful day when every last silver coins is gone to the smelter, I am going to make a better return than you will buy silver out right and that is a fact Jack!

 

[Iamrussell]

Buying a little every month is a good protection for your money- hunting it is an excellent way to add to your protection at the least expensive way- as long as you have the time to do it-
I do both

 

[baddbluff]

I'm really clueless when it comes to silver prices (we all are, really). Law of supply & demand does not apply right now - everyone is buying, supply is down & price is still dropping That doesn't make sense. We all expect it to go to $100 ounce because we want it to - it could just as easily go to $4 ounce - no one really knows. Historically, gold & silver have not been good investments. Look at the price charts over the last 20 yrs. it's been flat up until 2003. If you bought it then, you've done well. Otherwise you've missed the boat. They are way overpriced & on the way down. I just hope it goes back over 33/34 so I can unload before the big crash.

 

[OtlFrutiger]

I'm really clueless when it comes to silver prices (we all are, really). Law of supply & demand does not apply right now - everyone is buying, supply is down & price is still dropping That doesn't make sense. We all expect it to go to $100 ounce because we want it to - it could just as easily go to $4 ounce - no one really knows. Historically, gold & silver have not been good investments. Look at the price charts over the last 20 yrs. it's been flat up until 2003. If you bought it then, you've done well. Otherwise you've missed the boat. They are way overpriced & on the way down. I just hope it goes back over 33/34 so I can unload before the big crash.

First thing I've seen written about this that actually makes some sense. I will also probably be a seller if it hits $33 again before the summer.

 

[sagittarius98]

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.

What country was it if you don't mind saying? My parents are Polish.

 

[Novapax]

Well, lots of theory's on what it may do. In the long run, it will be a good investment for the most part.

I put off buying 1oz'ers for a long time. Had to make a move. I will still do the same amount of boxes, just will take an extra day. No big deal.

Keep up your quest to find the face valued silver, I know I will.


Happy hunting!


Novapax

 

[twiasp]

I'm really clueless when it comes to silver prices (we all are, really). Law of supply & demand does not apply right now - everyone is buying, supply is down & price is still dropping That doesn't make sense. We all expect it to go to $100 ounce because we want it to - it could just as easily go to $4 ounce - no one really knows. Historically, gold & silver have not been good investments. Look at the price charts over the last 20 yrs. it's been flat up until 2003. If you bought it then, you've done well. Otherwise you've missed the boat. They are way overpriced & on the way down. I just hope it goes back over 33/34 so I can unload before the big crash.

I don't know a ton about reading charts for markets but my uncle used to be big into commodities markets and helped him a lot and learned some. As i remember it something that stays in a tiny channel for a long time is actually a good thing because when it breaks that narrow little channel it is hovering in it usually breaks HUGE. We are dealing with petty amounts when considering the amount a commodities trader deals in, when the price goes up 1cent he made a grip of money, you can imagine it going up dollars, with the amount he controls with his contracts.

On a individual person scenario though. Say somebody was socking away silver instead of tossing it into some investment program. Lets put some simple numbers together, say you bought 30 dollars of silver a week @ 5 dollars an ounce for 10 years. ($30/5)*520weeks=3120 ounces of silver or in dollar value $30*520=$15,600. Lets say in your 401k you are getting 6% interest over that 10 years compounded yearly but you are saving as you go, just as you would with silver. Silver has stayed at a constant price for 10 years, ie you haven't gained or lost any money its just dormant, while you slowly gained 6% interest of the amount you had invested in your 401k ended at $15,600+ interest total at the end of 10 years. (I am sure you can do an excel spreadsheet to show you the math on that based on monthly deposits into a 401k. NOW lets say silver at the 10 year marks breaks its channel and spikes to 30 dollars an ounce (probably higher, but this is easy), 3120oz*$30=$93,600.

This is just my simple logic, any math guru's walking around feel free to correct me =) But this seems like silver is a GREAT investment.

401k = 6% interest gain vs. Silver = 500% gain

 

[cdickrun64]

I believe it will go below $25, and maybe below $22......below that I will start to divert my 401k money to buying scrap 90% silver.

 

[The_EE]

It has to go below $10.54 for me to lose any money right now so I am still doing good.

 

[ElectroHouseR]

What country was it if you don't mind saying? My parents are Polish.

Armenia

 

[ElectroHouseR]

It has not run out so far and the lower the price goes the more that will go back into circulation. I have collected a nice bit a change while watching TV in the evening. One heck of a better return than buying silver out right.

I have no problem with buying bullion coins or what have you and have bought some back some time ago but I going to continue to supplement my TV viewing time with CRH and until that faithful day when every last silver coins is gone to the smelter, I am going to make a better return than you will buy silver out right and that is a fact Jack!

I don't have a problem with CRH. You can't CRH if everything runs dry. I buy silver and I CRH. Sometimes it's easier and faster to just buy it, but finding silver in those rolls is just an awesome feeling!

 

[Novapax]

I don't have a problem with CRH. You can't CRH if everything runs dry. I buy silver and I CRH. Sometimes it's easier and faster to just buy it, but finding silver in those rolls is just an awesome feeling!

+1 on that statement.


Anyone ever buy a monster box? I think that would be cool!


NP