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 Replies: 46 / Views: 6,380 |
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Pillar of the Community
Canada
1751 Posts |
I totally agree with allspice, impaired coins should be melt, as long as they aren't a rare key date coin. Anyone have thoughts on when $35 silver may happen. I'd be happy with $35-$50 silver. I just started collecting silver in 2012 when silver was $30-$35. I'm wondering how low it will continue to drop.
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Valued Member
Canada
147 Posts |
In the inevitable rush to sell coins at $100/oz I'd keep at least one of each series I get and then melt the rest that I buy. THEN, once I've assured that a considerable quantity of NCLT has been melted off, jack my prices up tenfold knowing that the availability is so low!!
>:D
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Pillar of the Community
Canada
1581 Posts |
The whole precious metal situation is manipulated and doesn't follow normal economics. http://business.financialpost.com/2...nce-of-gold/That is saying that gold costs $1100 - $1200 an oz. to produce. Who would/could sell bread for $1.10 a loaf if the wheat in it cost $1.00 to produce? And consider most silver production is a side product of gold production. Edited by dialog_gvf
10/25/2014 11:16 pm
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Pillar of the Community
United States
1662 Posts |
If silver hits $100 I'll ride my flying pig to a frozen over Hades.
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Pillar of the Community
United States
2408 Posts |
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Pillar of the Community
 Canada
5404 Posts |
Maybe a better question............... what should you buy at $15.00 silver?
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Pillar of the Community
Canada
3049 Posts |
I think that the most recent spike (over the last 3-4 yrs) in silver was mainly due to the fact large financial industries had to have enough physical silver to cover the "paper" silver they were selling in case someone wanted physical payment in the actual commodity.
I know that for extraction it cost approx $9-$11 dollars per oz.. So yes silver could and probably will go a bit lower still...
- $30 silver.. a likely scenario again.. but will depend on inflationary rates..
- $50 silver... also likely... but I will probably already have one foot in my grave and the other on a banana peel by that time...
- $100 silver... not unless silver is the ONLY metal out there that will support the absolute newest technology in computer engineering or transportation.. I just don't see it happening...
As for $15 silver... I will do the same with $15 silver as I have with $20 silver and $30 silver and $40 silver as well as what I did with $10 silver... Buy the coins I like...& enjoy them...
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Pillar of the Community
Canada
746 Posts |
Well, one of the latest techs is solar energy. And silver is needed for solar panels. Could this tech contribute to a change in supply/demand for silver in the near future?  FYI: http://www.wallstreetdaily.com/2014...stry-silver/In the meantime, silver is nearing $15... maybe we should start a new thread...if silver goes to $5, which coins would you BUY?  |
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Pillar of the Community
Canada
1581 Posts |
> It costs 1.8c to produce a US penny.
3 billion pennies per year -> $24 million per year loss
Daily US deficit: $2 billion
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Pillar of the Community
Canada
3049 Posts |
Government may do things at a greater cost... if it's believed it's for the greater good.
Private enterprise will NOT. If price of silver were to drop for a sustained period of time below what it would cost to extract it... mines would shut down.
With respect to solar energy panals... I'm not really sure that there really is enough silver used in that industry or the medical industry yet to significantly drive the market at this point.
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Pillar of the Community
Canada
746 Posts |
Quote:
With respect to solar energy panals... I'm not really sure that there really is enough silver used in that industry or the medical industry yet to significantly drive the market at this point. It appears China is the leading player in the solar panel industry. This does not have a reflection on the silver market at this time, but perhaps the demand for solar panels might incrase in the coming years?...  In race for solar power, China is winninghttp://www.csmonitor.com/Environmen...a-is-winning |
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Pillar of the Community
Canada
532 Posts |
That's only 70 million in 5$ Canadian Rounds Guess the mint might have an excuse to charge 120$ for one OZ of art. Quote:
close to 70 million ounces of silver are projected for use by solar energy by 2016. https://www.silverinstitute.org/sit...olar-energy/ |
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Pillar of the Community
Canada
1581 Posts |
Same site says worldwide production is 819 million oz. https://www.silverinstitute.org/sit...-production/So, approaching 10% of the entire production is going to one industry. Also collaborates AgCoinAu figure. Says cost is $9.27 an ounce. But, a decade ago silver was $5 an ounce. So, like gold, silver miners have seen a massive cost increase. When do mines start shutting down as the prices drop? |
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Pillar of the Community
Canada
532 Posts |
I guess the profit margin is the tell all but if the majority is a byproduct it will always makes sense to refine it. I've certainly harvested my share. It may sound like a lot of silver but it's still under 24 metric tons.
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Pillar of the Community
Canada
1581 Posts |
Sure. But, gold miners are tight tight tight cost to price. If the silver provides the profit, then all is OK. But, if they can't afford to mine at all, then their silver production disappears too.
And, its not a faucet. They won't be able to turn on a mine again very quickly. So, if a physical supply squeeze occurs who knows where the price will go.
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Replies: 46 / Views: 6,380 |
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Posted 10/23/2014 1:15 pm
