| Author |
 Replies: 74 / Views: 7,432 |
|
|
|
Pillar of the Community
 United States
919 Posts |
jmkendall, thanks for giving a dealer side to my question. I was thinking of buying some gold a month or so ago, but it is just so hard to put out $2200 for a pre33 gold dollar that sold for $300 ten years ago. Silver is so much lower I don't think about $6 SAE's that cost $35 now.
|
|
Pillar of the Community
United States
3670 Posts |
There was initial fear after that first run to 50 a few years back, that the EXACT same thing would happen that occurred post Hunt brothers back in the early 80's.... I recall being one of the first to hop up on my soap box and point out the fact that THESE are different days then 1980. We all live in a MUCH faster pace info in your face world then 1980 and TOO many factors in play make this a totally different land scape then the early 80's.... Anyhow to my point, silver has continued to defy the odds and past across that key Mendoza line of 30 per oz.. It crosses it often and since that 50 run up I have seen it push up to 45, and to 40 and so on since.... The FACT is, silver has shown resilience verses total collapse back to two to four dollars and oz..... And when it did bottom out at 2 to 4 per oz. it was stuck there for THIRTY FREAKIN PLUS YEARS, talk about going dormant.... But now today, I bet 8 out of 10 coin or pm folk feel silver is gonna have bright days ahead and the days of 2 and 4 dollar and oz. silver is long past memory now.... And I am not not even gonna start on gold. How many have been calling for the gold collapse for like six or seven years now. Still munching away at the popcorn on that prediction  ..... Edited by Silverhawk74
01/06/2013 12:21 am
|
|
Bedrock of the Community
13014 Posts |
Quote:
the days of 2 and 4 dollar and oz. silver is long past memory now.... That will likely never happen for the simple reason of its new industrial uses. 8-15 is likely its new industrial floor |
|
Bedrock of the Community
United States
36845 Posts |
With the debt piling up in the USA $16+ trillion and climbing, and the printing presses running at full speed creating fiat currency, I doubt we will ever see 8-15 silver in US Dollars again.
|
|
Pillar of the Community
United States
919 Posts |
I hope you are all correct. I would hate to turn my bars, SAE's and Peace dollars into paper weights. |
|
Pillar of the Community
United States
3670 Posts |
Not just the 16 plus Trillion debt, but like 21 said increased industrial use, and this is gonna increase in the years to come as tech discovers new industrial uses for silver....
I doubt back in the early 80's that silver had any applications in the military weapons and medical field. Sure photo labs don't use as much, but they still get their PMz through development....
I once worked at one of the country's largest photo labs APS, and I asked my good friend who still runs the digi department just the other day if they still were collecting large amounts of silver. He said they still collect it, but instead of cashing in four times a year they just cash in once. When they do cash in it generally brings about 120k lol. Other metals like gold and platinum are also collected in the development process....
When I worked there I was a film scanner. I used a now obsolete machine to scan large rolls of industrial images from schools and such into programs to where they could be cropped and printed....
Anyhow, that department no longer exists as film is now 100% gone as all photographers who do business at the lab now have all updated to digital cameras....
Edited by Silverhawk74
01/06/2013 11:46 am
|
|
Pillar of the Community
United States
1200 Posts |
Went to the local coin show this morning. There wasn't a Morgan dollar in sight for under $30 or any ASEs for under $35 and one vendor had 19 Engelhard 1oz silver bars for $36 each. I was one of the first few through the show door at opening time and the bars were at the second table I hit. J-M 1oz bars are available for $1.49 over spot any time, so the $5.82 premium on the Engelhards turned me off and I passed them by. They disappeared before the show was 15 minutes old. I guess sometimes a $30ish spot doesn't mean all that much... |
|
Pillar of the Community
United States
3789 Posts |
Only the markets know where gold and silver are going. For sure in the short term they want lower. Will there be a trend this year? Who knows. Whats to say gold and silver don't trade in a wide range for many years?
The important thing to remember is that price has memory in all assets. the more this price is repeated the more it will be attracted to it.
I think its very good that both gold and silver, while they have backed off from their yearly highs, they have NOT nose dived.
The markets have too many forces to really say exactly where they will end up. The only thing you have is the price action, and calling floors, tops, bottoms is a fools game.
|
|
Pillar of the Community
United States
1590 Posts |
I'm an Engineer and I gotta tell you, industrial use is way down. Way, way down. In fact even Bloomburg admitted that there has never been a silver shortage; ever.
Anyone that tells you that industrial usage is up, is either misinformed ( NO slight intended. Lots of people read journals/reports and whatnot that do say that silver usage is up.) or are propagandist selling selling ETF's.
|
|
Bedrock of the Community
13014 Posts |
Good point kendall, never trust reports from people that have financial interest in silver moving one way or another
|
|
Pillar of the Community
United States
3670 Posts |
Yes very interesting JK from your prospective and trade.... Gold is only like the 19th most rare metal perhaps, way more abundant then say platinum.... The fact it is not as rare as some may think certainly is not hurting its value. Its trusted as we all know and have been for eons and loved in many forms of decoration.... Many things from the early 80s which are now way more accessible and way cheaper thanks to the Internet.... I think online trades alone is a fine example of the different landscape from then and now.... In the end I just like to shop, window shop whatever for precious metals in forms I like and figure others will as well. And there certainly is not a shortage of things to buy as the mint have thought of every possible way to re-invent the wheel or produce ump-teen billion different designs in coin and bar form alone.... Often I see these old bars celebrating some crazy date like a 35 year anniversary for some random company or something that is long forgotten and no one minus any of the employees or owners of that particular company could care less about. Minus them and the seller wanting triple spot cause its the only one they can find in a random ebay search lol.... Seller is like where else you ever gonna find a May-field 35th anniversary bar with a cow this nice on it. So rare it was only handed out to the big wigs ;).... Edited by Silverhawk74
01/07/2013 11:37 am
|
|
Pillar of the Community
United States
3789 Posts |
I agree. The financial media is always completely wrong in their reports, in fact all they do is sell news with "could" "maybe" and "perhaps". It is clear the price action tells all in the PMs and they do want lower for now. This is why APMEX on ebay signals a sort of top. Lots of people are going to be disappointed as they caught the top in buying PMs, just as they start to head lower. |
|
Pillar of the Community
United States
919 Posts |
Almost 4 million 2013 SAE's ordered today, the first day orders could be placed. A new record for one day sales. I guess there are a lot of buyers out there.
|
|
Bedrock of the Community
13014 Posts |
Just remember that also includes the total for the shops and websites buying to resell. People are buying no doubt, but not like 08
|
|
Pillar of the Community
United States
3789 Posts |
Yup, I have no doubt they are buying. I know I will continue to buy silver and gold proof coins no matter where the prices go.
However as prices dump, so will the amount of sales as the general public gets spooked.
As it is, the US Mints recent report breaks down numbers and their silver and gold sales are down if memory serves me right.
I guess those that are hoping and praying for PMs to go up in value must be really feeling the heat and not too happy with falling prices lol
|
| |
Replies: 74 / Views: 7,432 |
First Page
Previous Page
Posted 01/06/2013 12:16 am
