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 Replies: 48 / Views: 4,087 |
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Pillar of the Community
Canada
965 Posts |
Yes, thanks Richard.
Now if only I had some money to tie up in silver and ride the wave......
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Valued Member
United States
246 Posts |
in any case, you're in the money which is nice! great story so far, hope you hit your max profit targets. I'm going after AMD, I don't know why I like it, but at $11+ per share, it's got to be a decent buy for teh long term. Anyhoo, have a great night all!
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Valued Member
United States
314 Posts |
Thats amazing on silver prices. Why is going down ? I wish I knew. I just checked prices on silver since I just bought an box of halfs I bought today. I found 9 silver coins and 6 40% silver coins. I wanted to see how much I made on buying that 1000 dollar coin boxs of halfs. At silver prices at 11 buck per ounce. It said my coins were worth 1.69 each on 40% and 4.12 On 90% silver coins. Last week it about 12.50 per ounce. Why did go so low this weak.
On the thing with china what does that half do with metal market. Is all metal such as copper , scrap metal from junk cars going down. Reason I ask is it time sell my scrap metal becides leting it pile up like I being doing. I been saving my scrap metal from junk cars I parted out since I thought the metal would go higher. In last year becides silver and gold the metal market has been very high compared to few years ago. Copper was at an all time high this year.
I just hope the market dont tank to bad.
Chevrolet454ss
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Pillar of the Community
United States
882 Posts |
It could be dropping for various reasons. But I would suspect that most people overspent this summer and now are in the "uhhh ohhh" stage of the year. What do you do, pay your kids tuition or buy silver?
Edited by Tykimeister
08/17/2007 09:34 am
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Pillar of the Community
 United States
1267 Posts |
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Pillar of the Community
United States
1984 Posts |
Thomas, falling in love with AMD is a dangerous game. Been there done, that. Got out with a profit, but it came with sleepless nights and an ulcer so I'm not going there again. Good luck and don't say you weren't warned.
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Pillar of the Community
United States
1173 Posts |
Bonedigger...markets are up because the Fed cut one of its key interest rates by 1/2 of 1%. That move instilled "confidence" in the market, and short sellers are buying to cover their shorts. I'd predict lots of volatility in the markets yet for weeks or months, depending on how some things shake out.
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Bedrock of the Community
United States
20753 Posts |
The thing about the Silver prices that gets me is how many coin dealers will tell me stupid things like "the silver prices are up, so here is a chance to buy Mercury dimes" I don't get it. The prices of the coins are not based on Silver Prices so why even say that. I 've heard that from so many dealers lately it must be contageous. I'm going to a coin show tomorrow and if one dealer says that I think I just say, no, it's down so reduce your prices. At a flea market today my usual coin dealer started to say that and I told him Silver just plumited down to $9/oz so will you reduce your prices. He walked away. Ended up buying a 17S and a 24S Mercury dime, about F12, for $1 each, his usual price. |
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Pillar of the Community
United States
597 Posts |
Not sure where you got that $9 figure, if that were really true, I would be hauling and buying some more. It got down to $11.20, now it is at $11.90. The Fed cut the discount rate by half a point, so the Stock Market is up and so are commodities.
I bought most of my dimes when silver was ridiculous, like $4.50 an oz back in the mid 1990's. And yes, they were based on the price of silver.
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Valued Member
United States
246 Posts |
i know it's a risk, but at $11/share, the risk is definitly lower than say a year ago when it climbed into the $30s....i know, it's at $11 for a reason, but you never know! :)
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Pillar of the Community
United States
597 Posts |
Silver at it's peak on May 12th 2006 hit 14.94, lots of people at shows were discussing it breaking $20 soon. It never did. It flatlined in the $11-13 range the rest of the year. It has been pretty flat this year too, yesterday was a bottom out, but it would be highly unusual for it to break the lows it did yesterday again. It will flex back and forth unless there is a major shock, like say Iran announces it tested a nuke or something.
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Valued Member
United States
144 Posts |
AMD: it's hard to put a price on company that's losing money, and predicted to lose money next year. Is $11 a fair price for the privilege of losing $1.50?
Silver: that's a tough one to predict. It often doesn't follow other metals, because when gold, copper, and others go up, people produce more (because they get paid well). But silver is almost a byproduct of gold and copper production, it just goes along for the ride. So the extra supply causes the price to go down. The flip side is that so many people associate it with gold, that when gold goes up, everyone assumes silver will too. So it gets a little volatile.
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Pillar of the Community
United States
1571 Posts |
Greyhav, I must agree with you mostly. Having worked in the mining industry, off, and on fior several years, (since 1940), I agree that silver and gold are a "by-product" of the copper mining. In Arizona, and other areas, the low-grade mining of copper does produce both gold, and silver. ASARCO mentioned, several years ago that they got over $52,000. in silver from the.004% copper mining. They did NOT mention how much gold was recovered!. Nor did they say how much "moly" was recovered, but I know from personal observation that they shipped box-car loads in 55-gal drums, ( about 950 lbs each) about 10-15 cars a month. I don't recall how many drums to a box-car. This was in '45-'46, when copper was $0.019/ lb. Millwrights got $3.95/hour.
Dick
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Pillar of the Community
United States
1267 Posts |
I bought a bunch (for me) back when silver was in the $6-$7 range and still have it. Personally, I'm holding until it gets in the $30 range, LOL  Ben Edited by Bonedigger
08/19/2007 6:25 pm
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Bedrock of the Community
United States
19963 Posts |
I almost bought a bunch of silver today, but I think it's going to continue to slide down. A lot of big investors are unloading it to cover margins related to the sub-prime lending issue. I'm looking for $10/oz, then I'm going in big.
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Replies: 48 / Views: 4,087 |
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Posted 08/16/2007 10:23 pm
