| Author |
 Replies: 74 / Views: 7,379 |
|
|
|
Pillar of the Community
 Canada
902 Posts |
Thanks 1cent. I have it bookmarked
|
|
Valued Member
Canada
53 Posts |
I consider the policy on links to other coin sites to be counterproductive, but I won't attempt to circumvent it either. There are also some major coin dealers that post bid and ask prices for 80% in Canadian dollars, which gives a different perspective than just the straight spot price. In general though $1 face value of 80% contains pretty close to 0.6 troy oz of silver.
Edited by psi
04/22/2011 1:14 pm
|
|
New Member
Canada
5 Posts |
As of now Silver is $45.55 CAD a Troy Ounce!! I'm new to this forum but I'm loving it already :D
|
|
Pillar of the Community
Canada
902 Posts |
Update, we are back on track, $46.00 CDN
|
|
Pillar of the Community
United States
592 Posts |
Kitco - silver $48.32 USD @ 6:23 EST 4/27
|
|
Pillar of the Community
Canada
1733 Posts |
JM Bullion is a great resource for seeing genuine bid and ask prices on Canadian silver junk. There's no sponsor of the forum that currently provides a service like theirs so no harm in pointing it out. I think they are fair as a dealer can be considering the wild swings that take place when you are holding 1000's of ounces of PM's.
|
|
Pillar of the Community
United States
535 Posts |
Quote:
At this point it is all investment demand.
But, when you read Utah has passed a law making gold and silver legal tender (and 12 other states are considering it), you have to wonder what is up in the minds of legislators down there. This seems to scream a lack of confidence in the US dollar.
I realize that this is a U.S. issue in the Canadian forum, but... What am I missing here? The Utah legislators passed a law making it legal to use silver or gold coins? First of all: according to the U.S. Constitution (which was ratified by the state of Utah), that is not something that an individual state can do. The U.S. Congress has the power to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; At this point, there is nothing that says I can not spend gold or silver coins. If I take a Morgan dollar into a store, I can spend it. If I take a double eagle into the gas station, I can buy 1/4 tank of gas with it. Secondly: Saying that you can spend silver or gold coins is not a return to silver or gold standard. To get back to a gold standard, you would have to set a specific price of the metal. You would also have to have enough gold or silver on hand to equal the amount of dollars in circulation. |
|
Pillar of the Community
Canada
1581 Posts |
^^ The topic is the price of silver, which I assume interest goes beyond the Canadian borders. :)
You tell me what is in the minds of state legislators? I believe the wording is such that it applies to coins released by the state (making them legal tender in the state). But then, as you say, they don't have the authority to release coinage.
Seems an awful waste of time to pass the law if there isn't any point to it. And it seems, from here, to certainly work against the stability of the US dollar and the world opinion of it. And that is bullish for the price of silver.
|
|
Moderator
 Australia
16832 Posts |
Quote:
The topic is the price of silver, which I assume interest goes beyond the Canadian borders. :) I agree. So I've moved this thread to the Bullion discussion forum.  Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
|
|
Pillar of the Community
United States
4008 Posts |
Re: Utah state law
The primary reason for passing this law was so that people could buy, trade, and sell gold and silver coins and not get tangled up in any sales tax problems. Other states, including Colorado, have passed such laws and they are not unconstitutional. If they were minting coins, THAT would be unconstitutional. But they are not. All they are saying is that if their state residents choose to use gold and silver coins as money, the state of Utah will not object.
Personally, I would like to see states pass laws such as this and then mint a variety of copper, silver, and gold... medallions... in 1/10, 1/4, 1/2, and 1 ounce sizes. These would not have any value shown on them, would have "State of Utah" or other state on them, and would only show the date of production, their weight, and the purity of their metal. As a nice touch, they could show scenes and / or animals from that state on one side and the official state seal or flag on the other. If people then choose to use these as money that would be their choice and not the governments'.
|
|
Pillar of the Community
Canada
902 Posts |
Prices on a retreat $43.37 US $41.15 CND
|
|
Pillar of the Community
United States
4989 Posts |
Falling like a knife...
$41.72 U.S. right now
Had a feeling this bubble would pop at some point
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
Had a feeling this bubble would pop at some point The presence of volatility in a market does not make it a bubble. Oil is volatile too but is not being described by anyone I've heard as being in a bubble. The fact is, bubbles are almost never recognized before they pop... only afterwards. Perhaps it is the very rapid price deflation that occurs after the pop that really defines a bubble. A 10-15% reduction in price is a correction but hardly a pop. Think 50%, such as the plunge in the NASDAQ when the Internet bubble popped in 2000... or the housing bubble in 2008-2009. |
|
Valued Member
United States
384 Posts |
If we go below $40, we might just keep going all the way till $25. In that case you'll see your 50% drop. We are very close here. Will just have to wait and see.
|
|
Valued Member
United States
307 Posts |
Relax people, Headed back up now...
42.01 US @ 1:20AM Pacific Time
If we get back to $48 US I'm going to cash out enough to get a really nice 1893CC Morgan :)
Edited by Cali_Nick
05/04/2011 04:28 am
|
| |
Replies: 74 / Views: 7,379 |
First Page
Posted 04/22/2011 1:10 pm
