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 Replies: 21 / Views: 3,129 |
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Pillar of the Community
Mexico
1304 Posts |
Barry, I really do feel for you.
Folks, I meausre spot against the MXN Peso so, when I noticed a drop in the US dollar price, I also noticed that there was not nearly as stong a drop in the Peso price. I checked exchange rates and the peso is down against the dollar. The dollar index today shows as much against a number of currencies.
That's a pretty good start to the reason for the price drop.
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Pillar of the Community
United States
1659 Posts |
Quote:
When silver hit $27 a few hours ago I decided to buy another 100 ounce bar, so expect silver to be at $25 by tomorrow some time... And I thought I was the only one with that kind of effect on the silver market!  |
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Valued Member
United States
272 Posts |
I stopped by a coin shop today and noticed they were selling ASEs for 30.70. So I figured I better grab some, but they only take cash or check and all I had was my new debit card that I don't have the ATM PIN for yet :(
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Pillar of the Community
1283 Posts |
I call it the BarryG "Black Cloud" when he buys silver it drops. lol
I bought a 100 oz into the slide today too.
SAE's are under $590 a roll on Goldmart for the first time I can remember.
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Pillar of the Community
United States
3670 Posts |
BarryG "Black Cloud" Rof  ! Just like the Adams family house.... |
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Pillar of the Community
United States
802 Posts |
I think this is a downward trend. I mean if Goldman Sachs is going to come out and say "short the market", they know what's up. PMs will follow the stocks down for a while. Eventually they will break apart, but they will still follow the trend (up or down).
My prediction: Silver will hit $23 still this summer. If the market really REALLY gets hit, we will be able to buy silver in the teens. (not sure if that will happen though).
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Valued Member
United States
272 Posts |
I would LOVE to see silver hit the teens this summer :)
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Pillar of the Community
United States
2335 Posts |
I don't think it's all barryg's fault. I sent a batch of scrap gold & silver to my refiner last Friday. Almost every time I do that there's a drop in spot prices.
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Pillar of the Community
United States
5864 Posts |
As evidence, let me present "Exhibit A":  |
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Pillar of the Community
United States
808 Posts |
Barry, man...it could have happened to any of us. HOWEVER, it is hard to argue with that chart.  |
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Pillar of the Community
 United States
2424 Posts |
sheesh barryg....
you should of listened to yourself.. now silver is around $26!lol
i think if one is investing in more silver, one might consider higher grade 90%.. I mean, it tends to hold higher when silver does this crazy thing...for example... I'm sure MS63 or 64 morgans tend to be more than spot, right? and they tend to stay above spot when prices dip and escalate, right? so why not go buy some MS grade franklins or WL's that will hold their value and not fluctuate quite as much?
i see now is a better time to work on your MS franklin sets.. can get some very nice franklins for $10!!
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Pillar of the Community
United States
5864 Posts |
SDcoinguy: I actually started out collecting higher grade 90% and have a decent stack of Morgans, Peace dollars, Franklins, etc. The premiums for the good stuff are pretty steep, though, and I decided it was time to invest in some "pure" silver bullion as well. I don't plan on buying too much, since my first love really is the historic coinage, but I wanted to have at least some of it.
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Pillar of the Community
United States
5864 Posts |
Hmmmm... As an aside, I see that goldmart has just raised the premium on their 100-ounce bars from $0.59 per ounce to $0.69 per ounce. That's only an extra $10 per bar, but still...
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Pillar of the Community
1283 Posts |
Barry,
Unless you are talking about real weight (1000 oz +) who really cares about a $.10 per oz in the long run. Buying old pour bars is just the way to go IMHO, the collectors for them will always be around and in fact from what I can see it is increasing pretty steadily. So you spend an extra $50 for a nice kilo JM bar what does it matter if you are collecting for 10 years plus like one of your previous posts said. I just add every week, and hopefully when I die my kids will say how we have 1,000 lbs plus of nice silver bars and coins. That's right I said pounds not ounces. And if life derails me or they disown me i'll sell it off piece by piece and live off that.
On a side note Goldmart has eagles for under $29.50 which is a great deal I think..
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Pillar of the Community
United States
4008 Posts |
Quote:
I don't plan on buying too much... BAHAHAHAHAHAHA! Most of us never do but we seem to end up with quite a bit anyway! |
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Replies: 21 / Views: 3,129 |
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First Page
Posted 06/21/2012 5:25 pm
