Wow Silver Just Shot Up Yikes!

Or if we could all pick out the newest issued coins to buy , that will be worth $10,000 in 10 years. I guess that is why we pay our financial advisors so much, they supposedly can recognize such companies.

The mining costs are a fallacy for a bottom price, silver sat aroung 5 dollars for 20 plus years and was mined the entire time.

They may be going after the hardest to get stuff right now which costs more, let efficiency lapse with the high margin, cooking the books some for taxes, or just flat out lying but the silver and gold will continue to be mined regardless of spot price.

No I get you Yup Wall street takes care of what everything so gonna be valued at and the blue collar miners just dig it up, but they must be overhead involved and a point where it is no longer profitable for them to mine it....

All these shows on Discovery about mining gold, scripted or not (its irrelevant if real or not as they IMITATE the real world or attempt to at least) I figure this drop must effect their budget etc., as gold at 1375 an oz is a nice price but it aint going as far as when it was flirting with 2k, lol....

I am curious Yup, do you yourself buy/collect/stock pile actual silver coins or proof sets as you support I see, or are ya just a paper guy....

I have always just been a guy who likes to own what I invest in as a double edge sword to get to collect for a while and sell for a profit later, but never tried paper investing. I see you and Thunder are always playing the market, what got ya started and what was the first thing you put your money in?

I realize you guys that do it right make way more then I could ever dream of, I just dont care about being rich I do what I do for the love of it....

@silverhawk

well, first and foremost, I have enjoyed coin collecting proof silver and gold coins for many years, as a hobby, as a welcome escape from the fast paced duties of work and life. I enjoy the beauty of these coins, their history and what they represent.

I have never stacked, I have over the years bought say, different packaging of a certain coin so that I have it represented in its different forms. As an example, I really like the silver eagles. So many years ago, I bought a roll of silver eagles, then single bullion coins then proofs and uncirculated eagles, then whatever sets the US Mint has offered them in, I have those as well.

But no, I do not stack physical coins year after year and I prefer buying gold proofs over silver tho silver is very prolific even in the proof markets. In fact, in my case, as a collector, I very much enjoy collecting the Somalian elephant coins, as that's probably the only exception to the rule, I'll collect anything from them, silver and gold since I really love the detail and beauty of these coins.

Here's the long and short of things for me- being a trader, most of the time I am setting heavily in cash unless I have positions on for a trade. Liquidity is major thing for me and I am always looking for areas of momentum and trends across all markets, whether they be bonds, currencies, stocks, futures, commodities.

I have a separate account where there are a few holdings that I just let them go for years now as they provided a long term trend. Those two are GLD, where I have been in the fund since its inception and was buying all the way up until I filled my line and the same with XOM, Exxon. I might add, the only way I would accumulate silver and gold if it were to rise again, would be via futures, and leveraged and non leveraged ETFs. Which btw, I have done the inverse of this, as prices have gone down I have employed a strategy of adding to my line short as the prices go lover via these various instruments.

What got me into trading as a profession? There were many things but basically I received mentor ship and on the job training and was shown the types of trading time frames; I wished to employ and stick with and worked my way up and paid my dues to where I am today and in the end I decided to go with momentum/trend trading. While I can day trade and trade other time frames, most of my time is spent waiting and identifying longer term patterns and trends.

Right now one of these bigger long term patterns is in silver and gold, to the down side. However my attention is also fixed on uptrends, as right now we do have one in palladium, and of course the overall US and other world stock markets have been in uptrend's since last year.

So I don't have a bias. Being a trend following trader, it does not benefit me to have a bias or personal opinion because it will cost me money and losses in profit. Rather, I go with the flow, I follow the direction and let it take me with it. This allows me to be objective in my trading. I do not have a personal agenda with gold and silver. If prices were rising, had I been on this board years ago as it was rising, I would have started a thread way before even the prices were making news headlines.

Finally, you asked me what was the first place I put my money into. Well, in my training, I started out with airline stocks many years ago, those I remember as my first trades and putting money into the markets, those were short term trades, as skills developed and with training, it progressed to pharma companies, trading IPOs, oil companies, gold miners, and on and on. I have been in almost every single industry group in the stock market, I have traded almost all commodities from corn, soybeans, coffee, sugar, many metals besides the PMs, including nickel, copper, tin, energies, heating oil, natural gas, refined product (RBOB, in other words, gasoline) etc etc.

So I have plenty of experience with many assets across the board. This experience, I want to share with my fellow collectors that do stack, that do like buying gold and silver, so that Even if you don't trade or invest, you can make sense of whats going on, and if you want to purchase some coins, hopefully you can use my info to get yourself the best possible prices

Yeah it's all up today so far.

My apologies for this 3rd post- I am trying to do multiple things here but I wanted to share this as much as in real time as I can-

Please look up a chart of GLD, lets go to that as our proxy. Note the the HIGH of the day for 4/15 was 136.75. Do you see what happened today, just now, GLD ran into today, the HOD of 136.77, it attempted today a second time to run into this gap and was stopped hard by 2 pennies!

This tells us we have a resistance at this price and gold cannot not move higher until this area is breached. So again, the gap from 4/15 is CRITICAL and super important, until gold enters it, fills it and holds, it is going now where and we have our confirmation that the sellers are in control. The same goes for silver, it must fill that gap from 4/15. Until this gap is filled and held, any moves going forward should be considered head fakes to the upside.

Thanks for the reply as I agree with ya on the trend trading system, as I think alot along the same lines as if it is not hot I adapt and move on to something more profitable and dont get emotionally attached to anything and see it all as just tools or means to making money or even killin time and collecting as well....

I've learned I can't make much in pms in the short and its simply just more of a long term investment, hence me selling 1:24 cars and vintage toys now with plans to buy some pms here and there for me in the long run....

"So I have plenty of experience with many assets across the board. This experience, I want to share with my fellow collectors that do stack, that do like buying gold and silver, so that Even if you don't trade or invest, you can make sense of whats going on, and if you want to purchase some coins, hopefully you can use my info to get yourself the best possible prices"

Yeah that makes sense as the intent its to help others not waste money. As it may erk some as they say "Its a coin forum" but its all connected and relevant IMO and everyone has their own nitch beyond metal collecting or stacking and nothing wrong with that....

Silver down a bit today. Seems to be just fluxing up and down a bit. No major moves.