precious metals..again

bee · #1 12/03/10, 10:21 AM

silver back up over 29 dollars ouce in early trading today.
Does anybody think it will make it to 30?? If I remember correctly, that would be the first time since the Hurst brothers manipulated the market....

Explorer · #2 12/03/10, 12:43 PM

Yes if the current gov't money policies continue. Maybe not this year although.

Blu3duk · #3 12/03/10, 04:20 PM

that was the Hunt brothers that caused all that rise in metal prices.....

I personally believe that silver will rise into the mid 40's to the high 50's shortly, unless some "new" discoveries of silver are made, or older shut down mines brought online again, or the big one that some country has a huge hoard of silver ready to dump when they figure they can no longer hold it..... which is possible of 2 large holders. The largest mine in the several states is nearing end of its production, not the best of news and the biggest reason to invade Messico i think.... take over their country and silver mines once and for all, plus then their people wouldn't have to be thought o f as illegal any more..... they can be assimilated, resistance is futile!

but all kidding aside my friends who held gold for years began 2 years ago selling off their gold in $10k lots and buying silver, when it was under $10.00 just because they knew it was going up to $40-60.00 in a few years, thus giving them a higher ROI than gold would if it doubled or tripled, which it still has not done from the $800 mark, while silver in the same time from has nearly done so or even better than triple.

I am not a visionary, but any prudent person can reason that as an industrial metal that was intentionally kept low that the IMF could take extra ounces of silver from the countries paying off ledger entry debt in years past, and that metal reserve is "used" up or in vaults or back in the ground via a landfill, the price has no where but up to go until a substitute for its use is figured out....... or a PAW appears to alleviate the need for industrial metals.

William
Idaho

texican · #4 12/04/10, 12:47 AM

William, I can't imagine a new discovery that'd push it back down. I'm thinking that the dollar is becoming more and more worthless. Said it before... silver's not going up, fiat dollars to buy real goods are going down. Print more, by golly! Our leaders don't know the old saw about when you find yourself in a hole the first thing you do is stop digging.

I can imagine the day arriving in the next year or two when we get "new" money. Trade in your Benjamins for a crisp new single dollar "P.T. Barnum note". That, or we'll have to bring back thousand dollar bills, or million dollar billsl, or sextrillion dollar bills, like Zimbabwe has done.

edcopp · #5 12/04/10, 02:33 AM

Quote:

Originally Posted by bee

silver back up over 29 dollars ouce in early trading today.
Does anybody think it will make it to 30?? If I remember correctly, that would be the first time since the Hurst brothers manipulated the market....

Sure do.

bee · #6 12/04/10, 09:41 AM

Thanks Bluduck; I knew it was H"something" brothers.

BTW, for those still wanting silver..I got another 1964 solid 90% silver Kennedy half yesterday from a roll of halves. The roll is 10 dollars and the half is currently worth over 10 by itself and I still have the other 9.50 to spend..win/win!

texican · #7 12/04/10, 08:01 PM

Quote:

Originally Posted by bee

Thanks Bluduck; I knew it was H"something" brothers.

BTW, for those still wanting silver..I got another 1964 solid 90% silver Kennedy half yesterday from a roll of halves. The roll is 10 dollars and the half is currently worth over 10 by itself and I still have the other 9.50 to spend..win/win!

There you go! Makes me want to pick up a lot of rolls on different banks on the next road trip.

bee · #8 12/05/10, 12:35 AM

Good luck Texican..you won't lose anything in the process but I got 5 rolls from another bank and it was obvious they hade been searched,.,all coins were faced in the roll. Another time I just missed getting the halves at my good source by minutes..I am not the only hunter in my area.

Jim-mi · #9 12/05/10, 11:42 AM

At least if I end up with many rolls of funky 50 cent "coins" I'll have some good paper weights.................

The good ones are shall we say . . Long Gone...........

bee · #10 12/05/10, 12:38 PM

Jim-mi...cashed or stashed?? LOL!!

bee · #11 12/06/10, 01:49 PM

silver at 29.92 as I type 1:48 pm EST

bee · #12 12/06/10, 02:51 PM

30 dollars even!

Dutch 106 · #13 12/06/10, 03:49 PM

Hey,
I picked up about 500 ounces of sterling scrap when it averaged about 13. I mentioned it to my dad last night and he recomended that I sell half of it then what I had was in excess of what I had paid! Makes sense to me, I recover my investment. then what ever I recive is deffinaty a profit even if the price goes below 13 and ounce again (as unlikely as that seems just now) and if it goes to 40 -50 its still way ahead.
Just a thought,
Dutch

beaglebiz · #14 12/06/10, 07:24 PM

Good news!!
I wont sell mine, but its nice to know

machinist · #15 12/06/10, 08:25 PM

Like Dutch said, I should probably sell enough to get back my investment now, but I'm going to hold on for a while yet. I'm old, don't have much, and this was a once-in-a-lifetime shot at going for the gusto with investment. J.P. Morgan will holler "Uncle" eventually, and then it goes ballistic when they have to "fill their short contracts". They are undoubtedly filling their shorts right now, watching the price go up.......

They got a way with manipulating silver for WAY too long. Some background on that situation here: http://www.silverbearcafe.com/privat...0/onebank.html

pancho · #16 12/07/10, 11:42 AM

I decided I would sell some silver. Always had $25/ounce for my selling price but it passed that so fast I didn't have a chance. I just couldn't pass up $30.
I am keeping some back but had to unload some.

bee · #17 12/07/10, 12:54 PM

well Pancho, you and everyone else who decided to sell have brought it under 30 at this time..I guess I'll wait a spell and see where it goes. 32 an ounce would be nice! Heh, well for sellers that is!

6e · #18 12/07/10, 07:36 PM

So is this a good time to sell a bunch of sterling silver stuff I have like platters and butter dishes and other sterling silver stuff? Should I maybe trade it for coins or something? Or just hold on to it?

fetch33 · #19 12/08/10, 09:12 AM

Any APMEX customers get a gift yesterday? They sent me a tin of popcorn!

bee · #20 12/08/10, 10:33 AM

6e, depends on how you feel the market is going..if you think it has reached a plateau and won't go any higher then it would be time to sell. If you don't need the money now then you can wait to see if it will move higher.

In a bad situation it may be hard to get value out of a platter(how would you make change??). I can't tell you what to do; only say that any "scrap" silver I get I convert to "Junk" coin. Much easier to spend/trade in smaller amounts. You don't tip your hand about how much you may have and it is widely recognized value wise. Other than some value lost to the profit margin of the person you use for the conversion to coin there is no downside(in my opinion) of going to coin..at any time.