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If Silver Breaks Out, What Will You Do?

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thq's Avatar
United States
3343 Posts
 Posted 02/17/2024  08:03 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
IMO the manipulation is done by ETF's. They're founded on investor's faith that they hold precious metals, even though investors have no access to the metals they hold. ETF's have only existed for the last 20 years. Whether they actually hold the metals is moot - they're really more like index funds.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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sel_69l's Avatar
Australia
21786 Posts
 Posted 02/17/2024  08:21 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
If silver breaks out,
given enough time,
it will come back again.

I will do what I have always done.
I will bid for numismatic lots with multiple items within, where silver is just collateral.
My bid will reflect the numismatic content,
and the silver will continue to be regarded as a free bonus.
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United States
541 Posts
 Posted 02/21/2024  8:04 pm  Show Profile   Bookmark this reply Add retiredkper to your friends list Get a Link to this Reply
If silver suddenly went to $50 or more that would mean that the US dollar just crashed. At that point I would be even less inclined to convert silver into dollars. In the mean time convert 40% into junk 90% silver and use that to barter when the you know what hits the fan. Junk foreign silver .500 -.900 fine is also junk silver when the time comes but it will be a little harder to barter since it is not as well known. Pure silver and gold rounds are for wealth preservation and should be carried over into what ever new currency replaces the worthless dollars. Never use the pure rounds until normalcy has been reestablished.
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atticguy's Avatar
United States
1373 Posts
 Posted 02/21/2024  9:11 pm  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply
I think that I will do nothing.

I value my coins by the dates and mint-marks struck on them; not by what metal they are made out of. Whether my coins are made of silver, copper, nickel, or cardboard doesn't really mean a lot to me.

However, if prices for silver did go up that high, I would make an effort to dump my junk (duplicate/lower grade) silver coins.
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NumisEd's Avatar
United States
5177 Posts
 Posted 02/21/2024  9:47 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Be careful what you wish for. Because at $50/oz silver, oil most likely is $100++.
So, you celebrate having expensive silver but will grind your teeth when filling up your car.
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CoinHunter53562's Avatar
United States
2049 Posts
 Posted 02/22/2024  09:16 am  Show Profile   Bookmark this reply Add CoinHunter53562 to your friends list Get a Link to this Reply

Quote:
If silver suddenly went to $50 or more that would mean that the US dollar just crashed. At that point I would be even less inclined to convert silver into dollars.


It got very close to $50 back in April of 2011, but didn't stay there long. I thought about cashing in at that point, but had the same concern you did about things crashing entirely. It didn't stay that high for long at all and was back in the mid-30s shortly after.

I don't look at silver as a way to make money. I look it as a way to diversify savings and preserve wealth. I have sold when unexpected bills came up, but always regretted doing that. Now my strategy is slow and steady adding a little at a time.
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jbuck's Avatar
United States
187862 Posts
 Posted 02/25/2024  2:25 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
So, you celebrate having expensive silver but will grind your teeth when filling up your car.
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