Silver is Turned 18 tonight gentlemen!

[OnARoll]

Just a little reminder for folks watching this ship sink! Silver is at 18.86 currently, alittle more and i'm going deep like this guy..

 

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[Coppercrazy]

Thanks for the update I keep forgetting to check

 

[baddbluff]

Kicking myself for not selling! Going back to $5/oz.

 

[hokiemojo]

the challenge remains finding physical that reflects the decline. best bet might be to buy paper and then sell it after an increase to switch into physical. The main drawback is the obvious tax implication of having to pay on the gain upfront (when you sell out of paper).

 

[Coppercrazy]

I love it! I sold most of my silver dimes I found when it was $34 an ounce!!! My mom told me not to sell but I did!!! And ohhhh yeah I made out big time. Now I'm working on buying it back for almost half the price.

 

[silverdollarbill]

My opinion: Silver may have more to go down, but it is unlikely to hit $5. If it does, it will mean we have depression type deflation and we will all have bigger things to worry about.

 

[sack0silver]

If it evens out in the 12-15 range, I'd be happy. Give me a nice price point to buy and hopefully it stays there for a little bit so I can accumulate. Then hopefully it breaks through $50 in the next couple of years.

 

[BuffaloBoy]

This is a wonderful thing...

 

[sagittarius98]

My opinion: Silver may have more to go down, but it is unlikely to hit $5. If it does, it will mean we have depression type deflation and we will all have bigger things to worry about.

It hit $5 a few years ago.

 

[cdickrun64]

A few years? That would be 10 years.....a few is 3 or 4 to me.

 

[Wickaboag]

What's the educated guess low and educated guess high for the next 4 years?
Wicka

 

[CC-Hunter]

My general strategy has been to collect rather than stack - I keep what I need to grow my collection but sell the duplicates, so I am feeling less pain than if I had stacked as much as I could. I should note that this "collecting" includes a lot of pre-64 coins that don't have much of a numismatic premium above their bullion value, so in a way I am still stacking. I have mixed my silver buying with CRHing, so my average buy price isn't that bad. All that said, I am still sitting on a bit of extra Ag that a Craigslist buyer agreed to take at a great price (for me) and then flaked out, so I'll probably just put that silver away and hope for the best rather than take a loss at today's price (some of this extra Ag came from CRHing, but most came from a couple collection buys that were close to melt - ouch!).

We have to deal with the way things are rather than what we hope them to be, so my strategy now will be to take advantage of the lower prices to fill gaps in my collection (in particular Morgans, walkers and bens). If silver turns around and goes up, great; if not, I will at least spend a little less to grow my collection. I keep checking Provident and Apmex for prices on various 90% coins, but I think the premium is still too much (and forget about ebay, people pay way too much there).

 

[silverdollarbill]

This is a wonderful thing...

FALSE. Looks at the Kitco 15 year chart. The last time it hit $5 was in 2003 which is 10 years ago.

In 2008, it dropped to around $8.50 but that was when our entire financial system as we know it almost, and in my opinion, should have collapsed.

If silver hits $5, that means that it has really hit the fan and those with cash will be buying tangible assets for "Pennies on the Dollar"

 

[silverdollarbill]

It hit $5 a few years ago.

FALSE. Look at the Kitco 15 year chart. The last time it hit $5 was in 2003 which is 10 years ago.

In 2008, it dropped to around $8.50 but that was when our entire financial system as we know it almost, and in my opinion, should have collapsed.

If silver hits $5, that means that it has really hit the fan and those with cash will be buying tangible assets for "Pennies on the Dollar" lol

 

[diverjon123]

Does anybody beleive that it will go down even more then it already has?

 

[Coppercrazy]

From what I've read on here many think it will dip below $15 possibly down to $12 or even less

 

[Wickaboag]

I think I'm still going to stack one large buy of like 1500$ into silver at 18$ an ounce. Small premium maybe. :-) ill get what I can. As I read earlier
"Scared money doesn't make money" I'm young, I can wait until it goes back up since I don't need the cash now.
Wicka.

 

[Coppercrazy]

I think I'm still going to stack one large buy of like 1500$ into silver at 18$ an ounce. Small premium maybe. :-) ill get what I can. As I read earlier
"Scared money doesn't make money" I'm young, I can wait until it goes back up since I don't need the cash now.
Wicka.

EXACTLY!!! Benefits of being 17. Well me at least. I'm planning on saving for retirement anyways.

 

[FormerTeller]

Just a little reminder for folks watching this ship sink! Silver is at 18.86 currently, alittle more and i'm going deep like this guy..

View attachment 819655

Any background information on the picture? I love it!

 

[silverdollarbill]

I wish I was stacking when I was 17...lol. I'd be pretty loaded right now.

Anyway, I think you have the right perspective. You have to think long term. Months ago, people where writing that silver would go to $100. Now people are writing it will drop below $10.

If you are in this for the long term, you will do great. None of the underlying economic/financial problems of the past 10 years have been addressed. TPTB just used cheap money to paper over them.

Stacking is good, but be sure to diversify. Silver is nice, cheap, and has potential for big swings, but my opinion, gold is better in the long term and is a safer bet. Gold is not a commodity. Gold is money. While we in the West have forgotten this, in many places in the World (Asia, South Asia), people have not.

Finally, even more important then stacking, whatever you do, do NOT take on massive amounts of debt. Taking on some debt to get an education is fine, but do not take on $100k+ in debt to get a liberal arts or english degree. You will NOT find a decent job. Do not become a debt slave.

Good luck everyone!