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 Replies: 13 / Views: 1,052 |
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Pillar of the Community
United States
819 Posts |
I have 10 1-oz silver bars .999 fine I think, can't remember the name on them. Basis cost is about $50, thinking about cashing them in and using money to buy a scare CC Morgan dollar (BU)-of course I will have to sweeten the pot out of my pocket to do that. Think silver will continue up, or is this a good time to change to a different horse? My thoughts are silver will eventually come down, the Morgan most likely won't. any thoughts? |
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Rest in Peace
United States
5375 Posts |
I say save them, and perhaps buy even more if the price dips. With peak oil and the way our foreign policy is going, I have little doubt that in the long run it will continue to rise.
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Pillar of the Community
United States
1151 Posts |
Am I reading your post wrong ? Are you saying that 10 ounces of silver only costs $50 ? If that is the case, I will buy them off of you!
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Pillar of the Community
United States
1208 Posts |
That's a tough one. Sounds to me like you are saying you got them for $5 an ounce. Am I right? If so, you wouldn't have to ask me twice. Morgans are not the highest they have ever been, but in my opinion, it is a buyer's market with the economy so tight right now. If you can triple your investment in the silver, then turn it over into some better Morgans, I'd say "go for it"... My opinion is that if you are going to buy Morgans though, you need to go for better grades, or key/semi key dates. Common Morgans in the lower tier MS are always ho-hum performers compared to the rest of the coin market. This is all my opinion though. Your results may vary!  |
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Pillar of the Community
United States
1130 Posts |
HIS cost was $50. Probably bought it several years ago.
About $160.00 today.
I'm guessing silver will go up again before it comes down but since you bought yours for $5, you're going to make money whenever you sell.
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Valued Member
United States
473 Posts |
^^ absolutely, I seriously doubt silver drops to 5 an ounce anytime soon. I vote to hold on to them for a little bit longer. Chances are by decade end you'll be sitting on quite a chunk of change there my friend
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Pillar of the Community
United States
1984 Posts |
I don't think you'll regret turning your silver into a nice scarce CC Morgan at any point. A triple is pretty good for an investment.
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Pillar of the Community
Australia
3831 Posts |
If you don't check the mining sector of the precious metal production, don't bother speculating how high metal prices should be. The only key players are the mining producers as they produce perhaps 70-80% of the current world supply, the rest coming from government investment and recycling. http://www.silverinstitute.org/supply/index.php |
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Pillar of the Community
United States
2600 Posts |
The talking heads predicted exactly what has happened if you were listening. A yr ago they said a run-up to $1,000 and then settle back to the $800 range. Nothing has change except some profit taking. The primary forces in precious metals are the U.S. economy and energy prices. Add that to demand with developing nations seeing consumer purchasing going thru the roof and prices still have to go up. I am setting on mine and will for awhile.
Jim
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Pillar of the Community
United Kingdom
2217 Posts |
Silver continue up? Isn't it low right at the moment? - I'd wait until it starts going back towards the $20 mark before selling off any bullion as now doesn't seem like the time to sell.
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Pillar of the Community
United States
1840 Posts |
I invest for retirement and collect coins for fun. I'd never let the two cross paths. Having said that, selling the silver would make sense. Unless of course you think the price of silver will spiral up forever. You know, just like the housing market did...
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Valued Member
United States
487 Posts |
Waiting on silver to come down is like waiting on gas to go back to 99 cents a gallon. Silver is very cheap right now. In 1980 the world inventory of silver was around 4 billion ounces, today it is around 1 billion ounces and industry is using it faster than it is being mined. Silver is used in so many products, computers, cell phones, tv's, cars, appliances ect... I would guess it will go to $80 within the next 10 years. To answer your question I would stick with bullion. I own all the CC Morgans and do expect them to go up in value but not faster than the price of Silver.
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Pillar of the Community
United States
6326 Posts |
I'd say keep all the silver you have......bars or otherwise. If you bought the bars as a "future investment" or a "retirement supplement"......then just keep them until then....Precious metals will always be a rollercoaster ride, but over your lifetime....I'd say it's a good bet that it'll continue to go up.... Save your money and buy the Carson City Morgans when you're able to, or sell something else to pay for them.....HAVE A GARAGE SALE !...  Edited by eaglefoot
05/12/2008 2:29 pm
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Pillar of the Community
 United States
819 Posts |
I think I will keep the 10-1oz bars ( bought them at $5 oz)and do like was suggested above, buy the coins from other sources. thanxz for the input.
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Replies: 13 / Views: 1,052 |
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Posted 05/09/2008 3:32 pm
