Silver Price is Dropping fast.

[golden silver]

It will go back up just thought you all might want to know. As if you all are not watching right.

Golden Silver

 

[cedarratt]

Rumor is that it will go up after Friday around Noonish.

 

[Shake-N-Bake]

If you follow the trend charts the last week in every month is always the worst. Not sure why but it has been that way for as long as I can remember. I always blame it on the fact that the big coin show I set up at is the last Sunday of the month. Makes it harder to sell bullion when the market is on a downward trend.

Jason

 

[silvercop]

you'll drive yourself crazy following the price everyday.....it'll rebound...don't sell yet

 

[obediah]

I read a prognosticator who predicts 13 before it goes back up.

 

[jim4silver]

I read a prognosticator who predicts 13 before it goes back up.

I wish it would get back to 13. I would put every extra dollar I have into silver if it gets that low again.

I don't think it will. I cannot say how far the correction will be this time for gold and silver, but 13 is a bit too much. The dollar is not going to get any stronger in real terms no matter what the index does in the short term.

Only problem is that when silver gets that low, like last time when it hit 10, the coin dealers jack up the premiums. Right now from what I have heard and read, silver is being sold by many smaller collectors who are scared they will get left holding the bag. Silver premiums are not high right now at all if you want to buy. If you sell you will be lucky to get spot if you sell to a dealer, unless it is a gov issued coin like SAEs, Maples, etc.

Jim

 

[golden silver]

Obediah, I thought you were being detaned? What is going on with that ordeal?

Golden Silver

 

[Diver_Down]

Jim, I would love for silver to get to $13 again. Like you, I would fill another safe with it. There are still deals out there. Went to an auction recently. .999 fine rounds were selling for $16. 2 ounce rounds (.999 fine), I snagged for $14/ounce.

 

[jim4silver]

Jim, I would love for silver to get to $13 again. Like you, I would fill another safe with it. There are still deals out there. Went to an auction recently. .999 fine rounds were selling for $16. 2 ounce rounds (.999 fine), I snagged for $14/ounce.

I probably won't buy anymore silver unless it gets below 14 or 15. I have been only buying gold for the last few months or so here and there. Although I had always been more into silver than gold, I have seen how over the last year when PMs tanked my gold held up alot better than my silver.

My ideal collection would be 50 50 value wise. Lately I have gone much more heavy gold. So 13 an ounce or less silver would be great. I am not buying any more gold in the 1000s. I did buy some 2009 gold buffalos just because I wanted them for the collection, and because I think there is a slight chance the mint will stop production before too many are made and they might have some extra value down the road.

But it would be great to load up on some generic rounds at a low price soon and sell them when/if silver really does take off to 50 bucks an ounce as some believe.

Jim

 

[Diver_Down]

Jim, you can't go wrong with the Gold Buffalo. With the minting of them only beginning, they will have a low mintage, not to mention that the Buffalo is 24K. Also, keep an eye out for the fractionals. They are supposed to go on sale at the beginning of December (maybe earlier?). With such a guaranteed low mintage, they will be an excellent buy.

 

[jim4silver]

Jim, you can't go wrong with the Gold Buffalo. With the minting of them only beginning, they will have a low mintage, not to mention that the Buffalo is 24K. Also, keep an eye out for the fractionals. They are supposed to go on sale at the beginning of December (maybe earlier?). With such a guaranteed low mintage, they will be an excellent buy.

Fractionals would be awesome. I did not know if they were gonna make them anymore. The 2008 fractionals are worth alot due to scarcity.

I am debating whether I should buy a 2009 buffalo proof thru the Mint. They will start taking orders tomorrow. From what I read I don't think they are gonna set any limits per household, so there may be many made this year unlike last year. The cost on these is gonna be around 250 or so over spot from what I read, so I will probably hold off.

I definitely will keep a lookout for fractionals. Thanks for the heads up.

Jim

 

[AGCoinHunter]

Jim, you can't go wrong with the Gold Buffalo. With the minting of them only beginning, they will have a low mintage, not to mention that the Buffalo is 24K. Also, keep an eye out for the fractionals. They are supposed to go on sale at the beginning of December (maybe earlier?). With such a guaranteed low mintage, they will be an excellent buy.

Fractionals would be awesome. I did not know if they were gonna make them anymore. The 2008 fractionals are worth alot due to scarcity.

I am debating whether I should buy a 2009 buffalo proof thru the Mint. They will start taking orders tomorrow. From what I read I don't think they are gonna set any limits per household, so there may be many made this year unlike last year. The cost on these is gonna be around 250 or so over spot from what I read, so I will probably hold off.

I definitely will keep a lookout for fractionals. Thanks for the heads up.

Jim

I would really like to pick one of those up. From my understanding its also supposed to have some sort of special matte finish. Just paying that much for gold right now seems crazy. There is going to be a big pullback I believe in the near future. Think a lot will depend also on this 2010 election coming up.

 

[Diver_Down]

Jim, you can't go wrong with the Gold Buffalo. With the minting of them only beginning, they will have a low mintage, not to mention that the Buffalo is 24K. Also, keep an eye out for the fractionals. They are supposed to go on sale at the beginning of December (maybe earlier?). With such a guaranteed low mintage, they will be an excellent buy.

Fractionals would be awesome. I did not know if they were gonna make them anymore. The 2008 fractionals are worth alot due to scarcity.

I am debating whether I should buy a 2009 buffalo proof thru the Mint. They will start taking orders tomorrow. From what I read I don't think they are gonna set any limits per household, so there may be many made this year unlike last year. The cost on these is gonna be around 250 or so over spot from what I read, so I will probably hold off.

I definitely will keep a lookout for fractionals. Thanks for the heads up.

Jim

I would really like to pick one of those up. From my understanding its also supposed to have some sort of special matte finish. Just paying that much for gold right now seems crazy. There is going to be a big pullback I believe in the near future. Think a lot will depend also on this 2010 election coming up.

Yup the Buffalo proof will have the matte fininsh and it carries a $250 premium over spot. If you are interested in the uncirculated bullion Buffalo, they are selling for $1189. Which is the same as the AE. When it comes to the Buffalo, keep in mind that they use a 24K planchet instead of the 22K that the AE uses.

I was thinking the same about gold pulling back until I learned about the futures trading for next year that ended on Sept. 30th. on the LBMA. Apparently, some of the banks were naked shorting the contracts. They didn't have the actual gold to deliver. The buyers demanded the physical delivery. The two banks involved tried to negotiate a settlement of the contracts with cash with a 25% premium. The buyers turned it down and demanded the physical in 5 days. Other banks had to step in and "loan" the gold to the banks in question in order to satisfy the contracts. Hold on to your horses, as there might be a physical run on gold coins and ingots.

 

[AGCoinHunter]

Diver,
You think that Buffalo is worth the price? I know some of the previous matte finish coins the mint has put out in the past have some hefty premiums.

 

[jim4silver]

Jim, you can't go wrong with the Gold Buffalo. With the minting of them only beginning, they will have a low mintage, not to mention that the Buffalo is 24K. Also, keep an eye out for the fractionals. They are supposed to go on sale at the beginning of December (maybe earlier?). With such a guaranteed low mintage, they will be an excellent buy.

Fractionals would be awesome. I did not know if they were gonna make them anymore. The 2008 fractionals are worth alot due to scarcity.

I am debating whether I should buy a 2009 buffalo proof thru the Mint. They will start taking orders tomorrow. From what I read I don't think they are gonna set any limits per household, so there may be many made this year unlike last year. The cost on these is gonna be around 250 or so over spot from what I read, so I will probably hold off.

I definitely will keep a lookout for fractionals. Thanks for the heads up.

Jim

I would really like to pick one of those up. From my understanding its also supposed to have some sort of special matte finish. Just paying that much for gold right now seems crazy. There is going to be a big pullback I believe in the near future. Think a lot will depend also on this 2010 election coming up.

If you are interested in the uncirculated bullion Buffalo, they are selling for $1189.

I did better than that on my buffalo bullion coins. I paid just a bit over 1100 each, and that was when gold was up from what it is now (I really did buy near the top which is not a good thing).

I like the 24kt bullion best and that is the only type of government issued bullion I buy. I also have old foreign gold (sovs, 20 francs, etc) and none of that is 24kt. I don't see why they would even make modern day bullion in less than 24kt since it does not circulate as currency like it did in the old days--which is why there was a need to add something other than gold to keep it from getting too worn down due to gold's softness.

Jim

 

[Diver_Down]

Diver,
You think that Buffalo is worth the price? I know some of the previous matte finish coins the mint has put out in the past have some hefty premiums.

If you like it, then go for it. The matte proof won't appreciate like the 1997 Jefferson Nickel that was released in the Botanical Commemorative Set. I wouldn't wait for it to go down in price. They will only be minted for the next two months who knows what next year will bring.

 

[AGCoinHunter]

Diver,
You think that Buffalo is worth the price? I know some of the previous matte finish coins the mint has put out in the past have some hefty premiums.

If you like it, then go for it. The matte proof won't appreciate like the 1997 Jefferson Nickel that was released in the Botanical Commemorative Set. I wouldn't wait for it to go down in price. They will only be minted for the next two months who knows what next year will bring.

Buffalo's have always been a favorite of mine. Just paying this high price for gold kills me.

 

[Diver_Down]

Jim, you can't go wrong with the Gold Buffalo. With the minting of them only beginning, they will have a low mintage, not to mention that the Buffalo is 24K. Also, keep an eye out for the fractionals. They are supposed to go on sale at the beginning of December (maybe earlier?). With such a guaranteed low mintage, they will be an excellent buy.

Fractionals would be awesome. I did not know if they were gonna make them anymore. The 2008 fractionals are worth alot due to scarcity.

I am debating whether I should buy a 2009 buffalo proof thru the Mint. They will start taking orders tomorrow. From what I read I don't think they are gonna set any limits per household, so there may be many made this year unlike last year. The cost on these is gonna be around 250 or so over spot from what I read, so I will probably hold off.

I definitely will keep a lookout for fractionals. Thanks for the heads up.

Jim

I would really like to pick one of those up. From my understanding its also supposed to have some sort of special matte finish. Just paying that much for gold right now seems crazy. There is going to be a big pullback I believe in the near future. Think a lot will depend also on this 2010 election coming up.

If you are interested in the uncirculated bullion Buffalo, they are selling for $1189.

I did better than that on my buffalo bullion coins. I paid just a bit over 1100 each, and that was when gold was up from what it is now (I really did buy near the top which is not a good thing).

I like the 24kt bullion best and that is the only type of government issued bullion I buy. I also have old foreign gold (sovs, 20 francs, etc) and none of that is 24kt. I don't see why they would even make modern day bullion in less than 24kt since it does not circulate as currency like it did in the old days--which is why there was a need to add something other than gold to keep it from getting too worn down due to gold's softness.

Jim

Look at Australia's offerings for 24K bullion. They are the supplier for our Buffalo planchet. Also, keep your eyes peeled for deals at auctions. There is a local auction that specializes in guns and consequently draws the gun crowd, but they do offer some really nice coins from time to time. My latest steal was a 1977 Krugerrand for $500. All the gun guys had no idea of the value.