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 Replies: 18 / Views: 3,398 |
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Pillar of the Community
Canada
576 Posts |
The cemeteries are full of silver investors. Hope springs eternal but you do have to remember: hope is not a plan.
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Pillar of the Community
Canada
5091 Posts |
Is Sprott trying to become the next Hunt brothers? That didn't end well.
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Valued Member
Canada
324 Posts |
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Pillar of the Community
 Canada
9732 Posts |
I clicked on $35 a few days ago.
But I'm not going to hold my breath that long.
Gonna sell 100 silver dollars today for $1750.00
Bought 'em for $1360 a while back
I'm happy with that
Carpe Diem
"Dipping" is not considered cleaning...
-from PCGS website
Edited by DBM
07/25/2020 12:34 pm
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Pillar of the Community
Canada
1700 Posts |
I chose the $25 option.
I find it quite likely that we will be seeing some major fluctuations in spot price during the coming months, with some crests reaching the higher projections in the replies above (i.e. $38 or $40).
However, I interpreted the poll as follows. Would I buy silver today at $38-40 per ounce and expect to break even or make some gains if I had to sell them on September 1st? I probably wouldn't. Even given the chaotic state of affairs in the world right now I hardly think that this silver bubble is sustainable.
In fact, if I bought silver today and had to sell it on September 1st, $25 (maybe slightly more, but definitely no more than $30) is what I would pay today.
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Pillar of the Community
Canada
1967 Posts |
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Pillar of the Community
Canada
1922 Posts |
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Pillar of the Community
Canada
1686 Posts |
If it goes too high, the cull on collector coins will be crazy. People breaking open Proof sets for spot and what not. Beautiful coins hit the pot. More old dollars and 50 cent pieces melted. May be good for the investor, but not for future collectors. My pocket piece is worth 45 bucks spot now. Sure didn't cost me that. I don't know if I would fit in the investor or collector category. I don't know if I would crack Proof sets, but anything else may be fair game.
"We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
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Pillar of the Community
Canada
857 Posts |
$400 an ounce.  |
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Pillar of the Community
Canada
1686 Posts |
 Call me an investor.  .
"We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
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Bedrock of the Community
Australia
21673 Posts |
Can't say, because I cannot predict future $CAD / $US exchange rates.
$30 US.
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Pillar of the Community
United States
5732 Posts |
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Pillar of the Community
Canada
5460 Posts |
As long as the stock markets stay flat or increase a bit, it's not going to go much above $30. If it gets even halfway to $35, then the silver mines will start to mine more, the silver companies will release more, and then the price will fall because then supply will outweigh demand. Except in extreme circumstances, it's the gold and silver companies that make out in any kind of upheaval. They know down to the penny what demand is going to be and they alter their supply control in a timely fashion. Those companies have 1000's and thousands of silver poundage just waiting in the wings and a phone call away from increasing their mining production. With the world economies teetering because of Covid, I wouldn't buy or sell anything until some kind of clear future appears on the horizon.
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Pillar of the Community
Canada
1700 Posts |
Seems like I was a little too pessimistic with my prediction of $25 Canadian dollars. I would however add that the prices are still quite volatile and I am not exactly confident in buying until the fluctuations cool down a little more.
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Pillar of the Community
Canada
1979 Posts |
The spike in silver prices will cause a lot of low grade common date material to get melted down. Some don't like this, but I think it is good for the hobby to get rid of excess supply as older collectors depart. Plus when people make money in coins for any reason, it is only good for the hobby.
Precious metals will be attractive for some time until economic direction is more clear. Personally though I dont see silver as being portable enough to be a useful store of value.
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Posted 07/22/2020 09:06 am
