Silver is Going Crazy!!

[Sand Swinger]

Silver crossed $60/oz today and it’s now just a few cents away from hitting $61/oz. It's gonna be a wild ride!

 

[DudeDoubloonYoutube]

Silver crossed $60/oz today and it’s now just a few cents away from hitting $61/oz. It's gonna be a wild ride!

View attachment 2236822

Guess I'll polish those silver rings after all

 

[Sand Swinger]

UPDATE: I stand corrected, just checked and Silver crossed over $61/oz, lol.

 

[tamrock]

Rather incredible I say. Then you wonder will it go even higher. The local place that buys pm's told me one time I went in to sell they couldn't pay the price that reflects the high spot value until they can unload what they've accumulated. They said the refineries have put their buying on hold until they can catch up with what they've stock piled. Sounds like maybe they're running into some cash flow issues. Its kinda hurting my feelings on some of the silver I've sold, knowing how long an late 18th century spoon I've collected has survived is no longer worth its historic value. Now it's worth much more in it's melt value.

 

[Mackaydon]

Yes, silver now over $61. How long can I hold out before selling my grandparents sterling monogramed wedding set of 8 knives, spoons and forks? What will make the decision to sell easier is that neither of my kids nor their kids are collectors nor interested in their genealogy.
Don in SoCal

 

[robertk]

Yes, silver now over $61. How long can I hold out before selling my grandparents sterling monogramed wedding set of 8 knives, spoons and forks?

If I had something like that, I wouldn't sell at any price unless I just absolutely had to.

 

[Sand Swinger]

Its kinda hurting my feelings on some of the silver I've sold, knowing how long an late 18th century spoon I've collected has survived is no longer worth its historic value. Now it's worth much more in it's melt value.

An item, any items value is based on what someone is willing to pay.

Go detecting on the Treasure Coast and find an 8 Reale from the 1715 fleet. Is it worth more than its melt value? You betcha, some of those coins are fetching $15K - $20K, possibly more, due to their historic value, not the amount of silver used in the coin. I can't pay $20K for one of those coins, but there are collectors, museums, etc., that have the resources to purchase.

IMHO, your late 18th century spoon is far more valuable than its melt value. I can look at that spoon and seen a cool collectible, but I know nothing about 18th century spoons. But to a museum or collector who specializes in 18th century collectibles, that spoon might be worth thousands. Just like they say that Beauty is in the eye of the beholder, an items value is in the eye of the collector.

 

[Sand Swinger]

Yes, silver now over $61. How long can I hold out before selling my grandparents sterling monogramed wedding set of 8 knives, spoons and forks? What will make the decision to sell easier is that neither of my kids nor their kids are collectors nor interested in their genealogy.
Don in SoCal

I'll second robertk, I wouldn't sell something that sentimental. I have a couple harmonica's that my grandfather used to play when I was a young kid. When he died, all I cared about was getting those harmonica's, which I did get. I wouldn't sell them for anything. And he passed down a couple things from my great grandfather from the late 1800's. Those are staying with me as well.

Your kids and their kids might not have an interest right now, but that's always subject to change. And when your time on earth comes to an end, I'm sure they will highly appreciate a family heirloom that you passed down to them. It will mean much more to them at that time than it might today. It's not always about dollar value. Sometimes, the value is sentimental, and sentimental value doesn't have a dollar limit.

 

[Sand Swinger]

Hi Ho Silver!! Just hit $62/oz.

 

[Sand Swinger]

The Craziness Continues! Just hit $63oz. Up $2oz today.

 

[ARC]

You guys act surprised silver is at the price it is.

Where have you guys been ? Under a rock ? (:P)...
this has been a long time coming and has been expected by anyone who knows metals.

Silver has been undervalued for eons...
and is just emerging from levels it has been artificially suppressed from.

There has been a silver deficit for over 5 years now... and is coming to a head.

You act like 60 is high...
Just wait... You will REALLY be shocked soon... for you have not seen anything yet.
because..........
this IS just the beginning of its silver streak.

So...... when you say "silver is going crazy".... you are not even close...
You have not seen silver going crazy YET.
heh

 

[OBN]

I know digging silver coins have become more enjoyable with this jump in price. Just glad to see Silver is finally getting closer to what it should have been many years ago. Even though its only up 30 dollars? in a year, where as gold does that in one day.... plus or minus...

Just my opinion, Ive felt the last 15 years something or someone has suppressed the price of silver?

 

[Sand Swinger]

In the words of Sonny & Cher, The Beat Goes On....

 

[newnan man]

I stacked a lot of silver some years back at around 25-28 bucks so I'm stoked.

 

[Sand Swinger]

So...... when you say "silver is going crazy".... you are not even close...
You have not seen silver going crazy YET.
heh

I'm not surprised at all; I've known about this for the last 5 years. You must not have seen my previous posts over the last several months. I've been posting screenshots of Silver's spot price since 9/19 when silver was at $43oz. I've been preaching about Silver for a long time and started rolling over my 401K to physical Silver & Gold 4 years ago when Silver's spot price was $19oz.

But seems every time I post about an increase in Silver, Chicken Little's come out of the woodwork screaming that the sky is falling and Silver is gonna crash, because it dropped in price 5 decades ago, lol. So now that Silver is in the 60's and continuing to rise, I haven't heard much from the Chicken Little's, and I'll continue to post screenshot increases as it feels like redemption, lol.

 

[Surf_Pirate]

Sell high buy low dad always said... So you guys think I should get rid of it now and expect a drop in market in a year or so to buy again?

 

[Sand Swinger]

Sell high buy low dad always said... So you guys think I should get rid of it now and expect a drop in market in a year or so to buy again?

Personally, I wouldn't sell as the rise of Silver is just getting started. A year or so from now I believe Silver will be in the mid 3-figures. Its real value is much closer to Gold, but the price has artificially been held down for a variety of reasons, primarily greed by the uber wealthy and elites who invested short positions on Silver. It's been said that BOA for instance, took short investing positions in Silver, so every time Silver increases by $1.00, they lose $800M. Do what you think is right for you, but for me, I'm holding.

 

[Surf_Pirate]

Personally, I wouldn't sell as the rise of Silver is just getting started. A year or so from now I believe Silver will be in the mid 3-figures. Its real value is much closer to Gold, but the price has artificially been held down for a variety of reasons, primarily greed by the uber wealthy and elites who invested short positions on Silver. It's been said that BOA for instance, took short investing positions in Silver, so every time Silver increases by $1.00, they lose $800M. Do what you think is right for you, but for me, I'm holding.

Thanks SS, I'm not into the market like I should be. I've slowly stacked a little here and there over my 20 yrs or so and have only recently sold some scrap that I have somewhat regretted, but it was more old junk jewelry so no big loss. For future retirement funds and such, the wife and I have investors for that stuff. I like tangible metals but lack the large amounts which I wished I had. I'm slowly turning unnecessary crap to bullion. Why not right? So you think I should even buy more silver now if I could? Not let today's price scare me now? In hopes of even doubling a year or so even from now?

 

[Sand Swinger]

Thanks SS, I'm not into the market like I should be. I've slowly stacked a little here and there over my 20 yrs or so and have only recently sold some scrap that I have somewhat regretted, but it was more old junk jewelry so no big loss. For future retirement funds and such, the wife and I have investors for that stuff. I like tangible metals but lack the large amounts which I wished I had. I'm slowly turning unnecessary crap to bullion. Why not right? So you think I should even buy more silver now if I could? Not let today's price scare me now? In hopes of even doubling a year or so even from now?

I'm not a financial advisor so I can't tell you which way you should go. Plus, I'm in a different situation as I rolled over my 401K's every year for the last 4 years and converted my investment $ from the stock market over to physical Silver & Gold, so I'm good. I have more than I thought I'd have, but not as much as I would like, lol. I'm not suggesting that people should or should not buy now, I'm only saying for my detecting brothers and sisters that if they have silver, I'd suggest holding onto it because the price isn't going anywhere but up IMHO. Just like the price of my house I bought in 1984 for $64,490 but is now valued around $300K. What's the chances that home prices will ever come back down to 1980's levels? Seems every house these days, even crappy ones, sell for $400K or more.

The intel I've been getting is saying that we're very close to $100oz Silver, and we can expect Silver to be in mid-3 figures sometime in 2026. It goes up and down a few cents many times during the day, just like any other investment like the stock market, but the trend I've been seeing over the last several months is that once it hits a new dollar level, it may dip below as some sellers might sell, but it always creeps back up and over that dollar level as it heads for the next dollar level. Today's price seems high compared to the price just a month or two ago, but a few months from now, today's price might look like a bargain, so only you can determine what's best for you. But personally, I think those buying today will be very happy 6 months or a year from now. But as always, caveat emptore.

 

[ARC]

I'm not a financial advisor so I can't tell you which way you should go. Plus, I'm in a different situation as I rolled over my 401K's every year for the last 4 years and converted my investment $ from the stock market over to physical Silver & Gold, so I'm good. I have more than I thought I'd have, but not as much as I would like, lol. I'm not suggesting that people should or should not buy now, I'm only saying for my detecting brothers and sisters that if they have silver, I'd suggest holding onto it because the price isn't going anywhere but up IMHO. Just like the price of my house I bought in 1984 for $64,490 but is now valued around $300K. What's the chances that home prices will ever come back down to 1980's levels? Seems every house these days, even crappy ones, sell for $400K or more.

The intel I've been getting is saying that we're very close to $100oz Silver, and we can expect Silver to be in mid-3 figures sometime in 2026. It goes up and down a few cents many times during the day, just like any other investment like the stock market, but the trend I've been seeing over the last several months is that once it hits a new dollar level, it may dip below as some sellers might sell, but it always creeps back up and over that dollar level as it heads for the next dollar level. Today's price seems high compared to the price just a month or two ago, but a few months from now, today's price might look like a bargain, so only you can determine what's best for you. But personally, I think those buying today will be very happy 6 months or a year from now. But as always, caveat emptore.

The swings will not be in "cents" anymore.
Those days are ending.