Where Do You Want Silver To Go?

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Originally posted by gxseries

Gold will NEVER return back to 250USD/oz. Unless you find a bunch of alluvium gold, most gold nowadays are solid rock gold mines. And special thanks to the rise of oil prices, cost mining operations increase and hence such prices. Don't forget, to extract an ounce of gold from such sold gold mines are already around USD200!!! Any lower than that, and you should start to look for gold in such mines - I'm sure you'll be shocked that gold isn't found easily these days.

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The actual gold content is like 5 to 6 grams per 1000 kilo of rocks
( an ounce is 31.1 grams )
Gold may go to 250 dollars again when the US issues a NewDollar like the French issued a new franc
one new francs = 100 old francs

gxseries...In the mid 1980's we didn't think that Gold would ever be at the $250 level again either. There were similar economic circumstances then too and Gold was just as difficult and rare to mine. There's still lots of Gold and closed mines in the Western U.S.. It just needs to be economical again for the mines to open and produce. We'll see. I didn't mean to turn this into yet another discussion on Gold folks. We never thought that we would see the days of silver being sky high either. Poor H.A.W. Tabor certainly had his ups and downs with it in the 1860's+ and lest we forget the "Hunt Brothers" and their fiasco.

Excellent question.

I have mixed emotions on the subject. I've long believed that since silver is little more common than gold that someday the price would explode upward. It's likely that when this happens there will be wholesale destruction of coins even including many coins that are today considered minor keys. Some dates could actually be made scarce because the bulk of the mintage is in grades with relatively little numismatic premium. Unlike 1979 when the refineries were busy for only a few months this would become a permanent condition and more refineries would be built.

For many coins with history and numismatic importance this would be a travesty but for coins like '64 dimes in AU it would be a blessing. Many world coins would be wiped out. Much of the later date world silver is quite scarce in high grade and has no premium in lower grade. 40% Kennedys would be almost completely destroyed since these are none too common in unc and they still don't have a premium. High grade ones are rare.

I suppose what I'd like to see is a nice orderly advance in price to about $30 where it would stay for several years before slowly climbing higher. Instead we'll see chaotic markets until it either falls back or the shorts give up. In either case we're likely to see sharply higher prices at some point in the future and it will come extremely suddenly. Then there will likely be a massive drop as new mining comes on line. Silver is not the place to put your money if you seek peace of mind.

I really want it to drop down to about $7, because $5 is just pretty unrealistic. Now if it'll go down to $5, then I'm perfectly fine with that.

Investors dont really care that much where the price of bullion goes...... up or down.......they make money either way......it all depends on whether you are holding short or long........as for me I am a collector at heart and so I would not want to see silver go up much more than it already is.............most silver coin series contain several common date coins which tend to be priced rather close to the silver market...these are the coins that are most affected by rising silver prices........the keys or semi keys in a set are usually priced 10,20, 30 up to a hundred times the bullion value or more....so a $5 increase in market value for silver would be unnoticeable.......... other items that that will definitly be higher priced are the silver eagles...........these always trade a few dollars over market for bullion so their price is going to reflect any increase in value dramaticlly........the total for a complete set of them has jumped in value to over 400 and will continue to do so as long as the market stays hot.......
as for me I will not be buying cheaper/common silver until prices stabilize for a while.......the time to have bought was 3 years ago when the market was as its lowest...... buying now waiting for higher prices is definitly risky........as any market analyst will tell you...buy cheap and sell high....

laxmaster, check out Kitco.com There are a lot of places to buy silver bars. 1oz, 10oz, 100oz, and 1000oz is what I've seen. You can also buy silver 1oz rounds or 1oz art bars. These usually carry a higher premium and than just the regular silver bars, so don't buy these if you are going for a silver play.

BUT, you can buy the silver rounds at a discount if you look! When silver was pushing $10, I bought 12 rounds out of an old fashioned mailbid auction. Ten of them I got for $8.50 and the other 2 at $9 becuase they are proofs and were described as "badly spotted" I put the minimum bid in and got them!

Also, the precious metals "broker" companies like Kitco have what they call POOLS. You don't have to take physical possession and you can buy or sell at anytime....though with this climate, systems do get bogged down.

Go to https://www.kitco.com and click on Precious Metals Store. You can at least see what I'm talking concerning Pools. Also, staring me right in the face below your reply to thread there are 3 advetisements for bullion products. I stronly reccomend to everybody to go to https://www.amergold.com and sign up for Dana Samuelson's alerts. Dana Samuelson is exremely knowlegeable. VERY! Hope this helps



Jerry

Where do you get silver bars anyway