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 Replies: 23 / Views: 3,268 |
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Valued Member
Canada
470 Posts |
Quote:
Which lead me to believe we have hit a floor in the market. Really? - a bottom in a bottomless pit?, this is going to be a killing floor for a couple of months.It's easy pick'ins for the IMF DEFLATION FUND. |
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Bedrock of the Community
13014 Posts |
Quote:
Don't know why another major silver downturn would be different next time. Did we hit "Peak Silver" five years ago or something? No, its just personal bias coming through in opinions imo. Were only a few years removed from silver being mined at 5-10 dollars an ounce, obviously its possible and production isn't going to come to a hault if that happens. Not to mention a lot of people think itll spike back up to 50 any day now. If it drops all the way down youll have panic selling and if it sits there to long youll have more people dumping it getting sick of waiting. We arent in any danger of a silver shortage anytime in the near future barring a lot of natural disasters |
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Pillar of the Community
Canada
2805 Posts |
I just need silver to break $14, because then 0.6 of an ounce will cost around $8 and bulk Canadian silver dollars will go for $10 each with markup (when they were worth $17 I saw them at $20, so it's possible), and then I can buy one a week on my limited allowance.
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Pillar of the Community
Japan
666 Posts |
How were they mining throughout the 90s and 2000s then?>>>
<whispering...> back then energy was less expensive as well labor, and other costs
<<<< If it drops all the way down youll have panic selling and if it sits there to long youll have more people dumping it getting sick of waiting. We arent in any danger of a silver shortage anytime in the near future barring a lot of natural disasters>>>
silver dropped from 49 to 23
how much of panic selling have you seen?
Me? A little ...
If it drops more I buy more. I'm still paying huge premiums for bullion with numismatic value. I'm still getting some 900 silver below the spot, so stack is growing, fiat is earned, sky is not falling, me happy so far
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Bedrock of the Community
13014 Posts |
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back then energy was less expensive as well labor, and other costs Not so much so that now theres 15+ dollars added to the price an ounce. The simple fact is theres no way to get real costs from miners. They can be getting more expensive stuff now, jacking up their costs in the books as write offs, under reporting their output ect. No one stands there and counts every single ounce that comes out and no one knows exactly how much is down there they can get so there is a bit of an honor system. Not to mention they could just not be very efficient getting it. If my costs are $1000 and I say I pulled out 100 ounes thats 10 an ounce. Now if I still pull out 100 and say I only got 70 or 50 thats now 15 or 20 an ounce. Plus with the futures markets theyve already sold their production for the next few months/years anyway. Edited by basebal21
05/02/2013 10:23 pm
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Pillar of the Community
Japan
666 Posts |
Not so much so that now theres 15+ dollars added to the price an ounce. >>>
of course not so much, but one of the factors is increase in production costs
then you claim:
<<<They can be getting more expensive stuff now, jacking up their costs in the books as write offs, under reporting their output ect.>>
so why do you think they started doing it now, not 20, 40, 60 years ago?
cooking was always there, but the price increased during last decade
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Bedrock of the Community
13014 Posts |
They probably have always done it, with the higher spot price theres more incentive now and also being able to claim it costs so much to mine feeds into the fear of allowing silver to drop protecting their own interests as well.
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Valued Member
United States
223 Posts |
I don't think we are going to see sub-$20 silver. Especially without huge premiums attached to it. My one LCS has held steady on premiums. I picked up a 4oz ASE for $100.20 yesterday afternoon with silver at $23.80. It was the only generic bullion the had and the owner said they were atleast two weeks from having their next Silvertowne shipment. Also bought one 212 Fuji Taku but the premium was higher on that coin. |
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Valued Member
United States
456 Posts |
You got four eagles for $1.25/oz over spot? That is a great buy even if silver falls to $20. My local shops bumped their premiums up to $6.50 and $7 over for eagles. No thanks. . .
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Bedrock of the Community
United States
10982 Posts |
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How Important Is Silver Breaking $20 For You? Maybe not real important but if it drops to $18 or $19 I would make some significant purchases. The $18-$19 range we had in the summer of 2010 was the last time I did any major "Buy and Hold" purchases. P.S. Silver seems to be a good buy at current prices too. |
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Valued Member
United States
410 Posts |
$20 / oz isn't a magic number for me, but I'm looking to start collecting 1 oz world bullion now. I couldn't see doing it at $30-$40 per oz since I was expecting the bubble to burst and silver to come back down to the historical average.
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Valued Member
Canada
314 Posts |
If it does go below $20, I will spend alot more on ASE and SML, and a few other coins from around the world |
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Bedrock of the Community
Australia
21786 Posts |
Almost all of my silver scrap coins were obtained at well below $10 equivalent spot metal price long ago, as a by product of numismatic interest. Most of them were ontained as part of job lots. By catch, you might say.
Probably the cheapest way of collecting silver.
I DO, however keep a watch on PM prices, because they partly, and indirectly influence the numismatic market.
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New Member
United States
31 Posts |
For me, breaking $20 probably isn't all that important. I'm waiting for $22 (a re-test of the recent low) cause I regret not buying some items on my list when it briefly hit that low (right before the premiums got raised everywhere). If it keeps sinking, I'll continue to buy cause I want more PM.
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Valued Member
United States
325 Posts |
I'm not worried about the $20 mark. Silver is pretty low now. I get mine at or just below spot which makes me happy.
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Replies: 23 / Views: 3,268 |
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Posted 05/02/2013 9:57 pm
