Gold And Silver Prices

I hope silver tanks all the way back down to $5 an ounce. I have some items I want to buy

While I'm not one of those "sky is falling! Silver will be $200 an oz. and gold will hit $5000/oz" types, I do think the current drop in prices is temporary. There is starting to be a lot of talk about a double dip recession and further trouble in the European economy. That will cause people to start buying up gold and silver again driving prices back up to at least $40 and possibly touching $50 again.

Me too, I hope it drops. There is this guy who sells coins in very good to mint state conditions and sells them at melt.

That's what I wondered, only having been back "into collecting" for about 5-6 months now, is when does a big drop/shift trickle down to prices on ebay or at shows etc.?

With so many silver coins being "linked" to spot/melt prices these days, you'd think a 25%-35% drop would have a pretty quick and dramatic affect! Not just to bullion but to all of the coins that sell for around "spot" as well.

I know many don't "like or trust or care" about PCGS' list prices, but they do seem to react to such things pretty quickly and decisively. I'm starting to work on a Peace dollar XF+ album and a lot of the lower grade ones have dropped 4-5 bucks here recently on their list. I can't really judge too well what the shift has been on ebay though because I just started shopping for them this week! ;)

The Mint dropped both Gold and platinum Eagles yesterday and the Platinum is much less than gold. Time to buy Platinum since it basically is more scarce than gold and when everything settles down could and probably will adjust to beong more costly than gold.

The only real cost to hold PMs is whatever security you need to protect them from thieves or other disasters.

How has supply been at local shops this week? And premiums? I have not been to my shop so I don't know but last friday things were dwindling.

Seems to me that every time they talk on TV about the dollar or the Euro, it is in the context of the other currency. Maybe that's natural, as they are the big dogs in world monetary matters. It bothers me a bit when they trumpet the fact that the "dollar is gaining strength (against the Euro)!", while it is getting clobbered by gold. They do the same thing with the US stock market. When the stock market is rising slowly in dollar terms it is supposedly a great event. If that same "rise" is measured against gold, it could easily be a BIG loss.

IMO, gold is the only thing that should be used as a standard against which ALL fiat currencies are measured. Any measuring system HAS to have a fixed standard that is used for measuring and comparing things and, for me at least, gold is THE monetary standard. It makes no sense at all to be comparing one floating fiat currency to another, unless you are planning a trip to a different part of the world.