| Author |
Replies: 20 / Views: 3,753 |
|
Valued Member
Canada
183 Posts |
Silver over $30.00 a troy ounce.I am buying .9999 silver now before it goes higher.How about you
|
|
|
|
Pillar of the Community
United States
625 Posts |
Been buying since it was in the teens.
|
|
Valued Member
 Canada
183 Posts |
We are talking about pure silver most old and some new are not .9999 silver..
|
|
Pillar of the Community
United States
3592 Posts |
Stopped buying at $17...but who knows where it will go.
|
|
Valued Member
Canada
367 Posts |
in '04 bought about 100 ounces at $7 each!
|
|
Valued Member
 Canada
183 Posts |
Cazzuey I see $$$$ in your future.
|
|
Pillar of the Community
United States
2600 Posts |
Have been buying for quite awhile. Have slowed down recently and if it hits $35 I think I am going to dump a fair amount. I think 2 to 3 yr from now $30+ will be it's leveling spot, however, I expect to see some strong profit taking in the immediate future We will see another opportunity to buy between $20 and 25.
IMHO Jim
|
|
Valued Member
United States
314 Posts |
I think we will see some more profit taking soon for sure, but I don't think we will ever see 20-25 again. There is way too much support once it hits the 28 mark. If you're in it long term like I am, keep buying and don't worry about the price. If you want short term profit, I would wait for a pull back in the 28 range. I would love for Jim to be correct, so I can back up the truck and load up.
|
|
Pillar of the Community
United States
2661 Posts |
Well since I don't buy for the profit potential I will keep on buying for the wife's collection as long as she does not already have it.
|
|
Pillar of the Community
Canada
1051 Posts |
I sold a really nice poured JM 100 oz bar when it was $13..d'oh! I sold another 100 ounces at $16...arrg. I remember when silver Maples were worth just a tick over the $5 face value...nobody wanted any. Now that it's $30, everybody and their dog wants to buy. It's funny that the premise of "buy low, sell high" is so well known to people, yet often they do the exact opposite.
|
|
Pillar of the Community
United States
3592 Posts |
1cent, I know what you mean, but $30 may be low...after all, my friends were questioning why I would buy when it was so high (14-17)...
|
|
Valued Member
United States
458 Posts |
Still getting lucky enough to buy between 13-17.5x face on 90%.
|
|
Pillar of the Community
Canada
1051 Posts |
It's all about patience, Maineman. Barring the Hunt Bros. episode of many years ago, silver is scraping the ceiling of all time highs. I remember within the last few years silver touching $20, and then falling off a cliff. When that happened, there was no physical "available", and the silver that was available from APMEX and the like was carrying a premium in dollars, not cents. I believe this time silver could drop close to $10 from current prices without causing problems for those that want physical. I absolutely believe that we will see sub-$25 silver in the not-too-distant future.
|
|
Pillar of the Community
United States
1150 Posts |
I completely disagree with anyone saying we will see sub 25 dollar silver for at least the next few years, if ever. I'll also venture to say we won't see it drop below 28 in the near future, either. Silver has a lot going for it like it's asset potential as a hedge against inflation and its use in industry. Beyond that, we only need to look at JP Morgan Chase's ETF scandal and the fact that Silver's value is being manipulated by the major banks (they profit from a strong dollar, and weak silver). Oh, and China just made it legal for their citizens to own silver (even more demand). Most of the silver mined throughout history is gone (I've read estimates of upwards of 90% of it). No one recycles silver from electronics (at least not yet). We could very well see a silver/gold backed world currency at some point. Gold is widely believed to hit $10,000.00 an ounce at some point, and if silver follows its historical relation of around 20/1 than what I say next won't be a shocker. I'm in the camp of $100.00 an ounce silver within 4 years. It could be sooner, however. We don't have the Hunt brothers anymore, but we have worse (HSBC/JPMC). Silver hit $48.70 in 1980. If we factor in inflation that is $129.32 in todays dollars. So you can see $100 an ounce is not a big stretch of the imagination. We'll see how this JPMC and HSBC manipulation of the ETFs plays out. If that blows up in their faces, we could see a parabolic rise in silver almost overnight. We'll see sell-offs at psychological limits such as $30, $35, $40 and so on but I personally won't stop buying until I see our country get its economic act together (and the same goes for all the other countries with fiat based money systems). And by that time we'll all be rich!    
Edited by mitchhailey 12/31/2010 05:22 am
|
|
Valued Member
Canada
53 Posts |
What's a good avenue to get a decent price selling off some circulated 80% these days, say around the Toronto area? Spot works out to around 18.5x face in CAD at the moment.
|
|
Valued Member
Canada
153 Posts |
psi .... Take what you want to offload to either the CAND show in Hamilton at the end of Jan or to Torex at the end of Feb. Both will have around 40-50 dealers and there are always 5-6 who openly buy .800 or higher. I've gotten 95% of scrap before to dealers that I know. Go to one of those coin shows and shop around for the one who gives you the best deal.
|
| |
Replies: 20 / Views: 3,753 |