Silver prices

[Big Fat Cheeseball]

$28.48 oz right now. Anyone buying yet or hoping it drops more.

 

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[CoinFetcher]

I'm gunna drop a little coin for some old money, or possibly bullion. Morgan's should be cheap any the old c shop.

Generic rounds for under 30.

 

[kfs]

With the Federal reserve pulling stunts like this I will be holding on to my coins and waiting for the hammer to fall

Fed Has Bought More U.S. Gov?t Debt This Year Than Treasury Has Issued | CNS News

Fed buys 125% of debt issues by the Federal government. It sure must be nice to have your own printing press.

 

[CC-Hunter]

I've bought a little Ag in recent months off ebay and Craigslist. I thought a paid a decent price but could very well be sitting on a loss (hopefully small) at this point. I don't pretend to know which way the silver price will go, but the silver market does scare me right now. I've read what I can on the current market and my personal conclusion is that there are more reasons for silver to drop than to go up. The government's printing of tons of money hasn't really had much effect on silver prices.

So, I have a little silver stash that I am content to sit on even if silver continues to drop. Between finds in the wild and some decent buys here and there I really haven't invested too much in the stash, so it won't cause me great pain to hold the stash even if prices drop more. However, I decided today not to buy any more silver and will focus on CRH finds. No matter how bad things get in the silver market, you can't go wrong paying face value.

 

[rpg25]

Personally, I can afford a little bit of a drop and not take a loss. I have a modest stack of silver between my rounds and what I've found hunting. Since what I found hunting I got for face value (way way way below spot) there is equity in it and there is plenty of wiggle room for loss. Right now, even though I bought ASEs at $35ish dollars a piece, on average I've only paid about $15 to $17 an ounce for my stack. It's actually lower but I added a bit for cost of gas and miscounts on the coin counter here and there. Like I said, I can afford to ride the drop a little. Hopefully it doesn't drop below my average. Whatever happened to the $50 and $60 silver everyone was talking about towards end of 2012 though? If all signs are pointing an an increase, why the drop? Anyone things this will last or will we see a recover to $30ish next week? Thoughts?

 

[Walla183]

Personally, I can afford a little bit of a drop and not take a loss. I have a modest stack of silver between my rounds and what I've found hunting. Since what I found hunting I got for face value (way way way below spot) there is equity in it and there is plenty of wiggle room for loss. Right now, even though I bought ASEs at $35ish dollars a piece, on average I've only paid about $15 to $17 an ounce for my stack. It's actually lower but I added a bit for cost of gas and miscounts on the coin counter here and there. Like I said, I can afford to ride the drop a little. Hopefully it doesn't drop below my average. Whatever happened to the $50 and $60 silver everyone was talking about towards end of 2012 though? If all signs are pointing an an increase, why the drop? Anyone things this will last or will we see a recover to $30ish next week? Thoughts?

Silver and gold have been doing the two-step together for quite a few months. Any hiccup in the gold market (ie. Soros is dumping gold ETF's etc.), it will reverberate in the silver market. Gold sneezes and silver then catches the flu.

You have competing mindsets on this topic. Those who are selling gold say the economy is improving, the housing market is stabilizing etc. The ones on the other side of the topic point to the massive amount of $ printing helicopter Ben is doing. Inflationary targets aside, it's a tough beast to contain.

 

[hursst]

Just an opinion!... Great time to sell most, but not all of your silver and gold, although it would have been better last year. Money is slowly leaving bonds and bullion and returning to stocks, which will bring the price of gold and silver back to "normal" levels over the next few years. The price of gold and silver went up because people were affraid of the stock market when it collapsed in 2008-2009. Now, the housing market is slowly recovering on average, the stock market is almost at an all-time high, and the money is flowing out of metals. Best move is always to do the opposite of what everyone else is doing. Buy low, sell high. Stock market and real estate are the best current investments to make. Stock market will continue to go higher as SO much money is still sitting on the sidelines. Best to keep about 5-10% in precious metals of your total investments for a well-balanced portfolio as a hedge against risk. Gold/silver is down about 10% so far in 2013, Stock Market is up about 7% in 2013. Most of my money is in mutual funds and I'm making $$$. I own no gold at the moment, and no investment silver, as the price will continue to go down over the next 3-5 years. again...just my opinions...!

 

[$nack-Money]

Just an opinion!... Great time to sell most, but not all of your silver and gold, although it would have been better last year. Money is slowly leaving bonds and bullion and returning to stocks, which will bring the price of gold and silver back to "normal" levels over the next few years. The price of gold and silver went up because people were affraid of the stock market when it collapsed in 2008-2009. Now, the housing market is slowly recovering on average, the stock market is almost at an all-time high, and the money is flowing out of metals. Best move is always to do the opposite of what everyone else is doing. Buy low, sell high. Stock market and real estate are the best current investments to make. Stock market will continue to go higher as SO much money is still sitting on the sidelines. Best to keep about 5-10% in precious metals of your total investments for a well-balanced portfolio as a hedge against risk. Gold/silver is down about 10% so far in 2013, Stock Market is up about 7% in 2013. Most of my money is in mutual funds and I'm making $$$. I own no gold at the moment, and no investment silver, as the price will continue to go down over the next 3-5 years. again...just my opinions...!

yes, $19 silver coming soon... then $10 silver soon after that. Time to dump and run quickly

 

[Walla183]

yes, $19 silver coming soon... then $10 silver soon after that. Time to dump and run quickly

What technical analysis are you using to derive this opinion?

 

[GarouLady]

I bought most of my buillion when it was 5-7 dollars an ounce and as long as it stays above that I am doing ok. But to tell someone to sell their silver now when its low to me just feels like fear mongering for profit. Silver went down like this just last year, then zipped up to 50 bucks an ounce to settle down to 32 dollars. With the dow going down more and more, so will silver and gold for a bit. Its just what happens if you watch the stock market as much as I do. I plan on going and buying some silver. Buillion is too expensive locally for me unless I drive into downtown where they had ASEs 3 dollars cheaper than my normal LCS.

I plan on watching to see what happens the next couple of days in stocks, but I definitely am not going to sell my silver right now. One silver no matter, the stock market says, what will always hold a monetary value like gold, unlike that green paper and metal we normally carry in our pockets.

Sincerely, Garoulady

 

[theekman]

Personally i wouldnt trust the stock market, i dont see any signs of our economy bouncing back, no real job creation and the feds dont seem to want to slow their spending anytime soon. Im going to keep my money in tangibles. I don't want to invest my money in mutual funds thats overseen by some board of trusties, that oversees securities of companies that i have no idea what they do, and are probably adjusting their books to seem profitable when in fact are just as in debt as our government and are praying to avoid the day when it all catches up to them. Im sorry to say but I believe Americas hey day is over. We were living pretty high on the hog for some time, and many economists knew where we were heading. But if it isnt broke dont fix it. This is an interesting time we live in, we have a very complex global economy. And i shudder to think what America would look like if we weren't chinas biggest customer and they wanted to collect on that money we owe them.

No one knows the answers, im not saying im correct thats just how i see it. I wouldn't put a large majority of money back into the stock market because things look a bit better for a few months. PM's have been hedges for hundreds of years. Its a reasonable bet you might make some money, and a reasonable bet you wont loose much either.

Rant over

 

[rpg25]

What technical analysis are you using to derive this opinion?

Was about to ask the same thing. While I'm no expert, I can't help but laugh at people during times like these. When silver was holding steady at like $32 and $33 for a while, everyone on these silver enthusiast site were talking about silver shooting above $70 silver. It couldn't go down and they couldn't wait to cash in. Now it's dropped a couple of bucks pretty quick and everyone is jumping off the bandwagon. For all we know this run down to the $20 range could end just like the ride up to near $35 a couple of months ago... We shall see because only time will tel.

 

[jeff of pa]

Was about to ask the same thing. While I'm no expert, I can't help but laugh at people during times like these. When silver was holding steady at like $32 and $33 for a while, everyone on these silver enthusiast site were talking about silver shooting above $70 silver. It couldn't go down and they couldn't wait to cash in. Now it's dropped a couple of bucks pretty quick and everyone is jumping off the bandwagon. For all we know this run down to the $20 range could end just like the ride up to near $35 a couple of months ago... We shall see because only time will tel.

yes it's all speculation.

The Big Buyers will tell you sell while you can.

the big sellers will tell you Buy now $150.00 is not out of the question

I see no reason for it to turn around till maybe Monday at the earliest.
but I was wrong on the drop below $30.
I'm am hoping for the bottom to drop all the way out & crash for a good year

 

[Nomatic00]

As luck would have it I bought some bags of 90% coins last week @$30.40 I sure wish that I had waited another week..I have no idea what silver is going to do but if we hit $20.00 I'm going to buy a bunch more and hope for the best! I don't lose till I sell right? It's only money, I don't have kids and I can't take it with me when I slough off this mortal coil..

 

[minkybodl]

I would never sell any silver now but I would buy more at any price from here on down. I sold some that I bought at 8, 12, and 16 when it was in the 40's and I bought some coins, (ASE's, Mapleleafs, and Pandas) when it was in the 40's. I like my Pandas and Canadian Wildlife Series, at least I did when it was Wolves, Bears, and Cougars but not so much as the Moose, Deer, and Bison. I will get the last three real soon now. I don't know why anyone who does CRH would buy American silver coins when they can still be found for face value, maybe the Morgan or Peace or certain hard to find coins but not just more bulk spot silver. If the price goes down below 20 I will start buying 10 oz bars again all the way down as low as it will go.

The stock market is a shell game which with naked shorting came be driven any way the big boys want it to go. The company that owns and controls the issuance of stocks is the Federal Reserve so stocks are just like money they can print as much as they want any time they want. They (FR) also control the commodities market but there they must at least sometime produce the things such as PM that they have over sold. JMHO, this country will never get better without first going bust because they are making the US broke on purpose and silver and gold are one of the few things which will have value when it does happen. Everyday your Government sells you and your children deeper into slavery, feeds you nonsense that you believe is true on TV and in the newspapers, and one by one they take away every last right that good men and women bled and died to give us.

As Jefferson said.
Quotation: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

 

[Peyton Manning]

During rush's show I keep hearing a commercial about how silver is about to jump way up. Must be true no?

 

[BuffaloBoy]

I am waiting for it to drop, i don't sell my finds, so I honestly don't care if silver drops to $15 an ounce... that just makes me able to add more to the pile for cheaper! I remember a few years ago when a decent morgan was $16-18, unfortunately, i did not have the budget to buy more than 5 or so, and I still don't.

 

[Wilmingtonsilver]

I'm am hoping for the bottom to drop all the way out & crash for a good year

I am right there with you Jeff. For a couple reasons. 1) It will be cheaper to build up a nice little hoard of PMs. 2) People will be more likely to dump coin collections back into circulation. 3)It may chase a bunch of people who just heard about the hobby from a friend of a friend to leave the hobby in disgust.

 

[CoinFetcher]

Alright, on the streets, the dip is in effect.

I did some CRHing - about 300 mix quarters and halfs. I found 1 40%er, from a tray. excellent. dumped about 1K. Allso, my first Star notes. Crisp 100 dollar notes. 3 are consecutive, and one is a little behind them. I am pricing them now...I don't expect a premium.

First coin shop - quote me 28.68 for the spot. I bought some Onzas for 2.25 over. The pile of morgans were 31 each. ouch. I passed

Second coin had 2 ASE left for 31.50 - got those. Some dude bought them out of everything else cool. He got a load of maple leafs, and eagles. dang. He had some okay morgans - cleaned - blah - but 26 each - or 30 for some AU morgans - I didn't cherry pick that tube, but the few I saw didn't pop out.

That is the word on the street through CHRing, and silver stop shoppin'

 

[jeff of pa]

I am right there with you Jeff. For a couple reasons. 1) It will be cheaper to build up a nice little hoard of PMs. 2) People will be more likely to dump coin collections back into circulation. 3)It may chase a bunch of people who just heard about the hobby from a friend of a friend to leave the hobby in disgust.

Yep Back in the 90's the coin dealer who set up at the local
Farmers Market used to have a Tupperware container of Morgan dollars.
& a sign on it $5.00 each. IF I knew then what I know now,
they would be mine.

would be nice for a second chance, at $2.00 each