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 Replies: 86 / Views: 5,957 |
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Valued Member
United States
144 Posts |
I've heard people brag that a $20 gold piece has similar purchasing power today as it did 80 years ago (the story usually points out that the coin would by a top of the line suit both then and now). But $20 in the stock market (S&P500) for 80 years would now be worth 35000 "devalued" dollars. I'll take the dollars.
I don't want to just beat inflation - I want to pummel it.
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Valued Member
United States
294 Posts |
After reading all these post regarding PM market current future values .Can you break it down for a low dollar collector like myself .I have finished all my silver sets except my Washington quarters I have 20 more to get.When I started them about 3 months ago I was paying $2.00 a piece then $2.50 and Monday I payed $2.75 .Were do I draw the line .I'm paying under spot Ann trying to complete before they go over $3.00 I think that is my draw the line point .Ten years from now will a silver quarter spot at $5.00? Seeking :A crystal ball Rainman  Edited by Rainman
02/29/2008 7:09 pm
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Valued Member
United States
168 Posts |
19.83 ending price for silver this week...great week considering it was I think 18.80ish this monday...probably got more room to grow...only thing is can't get enough of it. hoping to see another 1.50 next week.
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Valued Member
United States
169 Posts |
I wish I knew where the silver & gold markets were heading. I wish I had put all my cash in gold about two years ago! To all those that tripled their money by doing that, I tip my hat.
I think there are two things driving up the price of gold. One is the continued weakening of the dollar, and the other is that the Chinese government began allowing their citizens to own gold just a couple of years ago. Since they were artifically weakening their own currency by tying it to ours, it became an excellent investment for the Chinese to put their money into gold, rather than the Chinese Yuan, which fell in value with our dollar. They've recently begun to loosen the ties between the currencies, but the Chines Yuan still doesn't completly "float" on the open market.
In this country, gold has approximately tripled from about $300 to $900. What has the price rise been in Euros? Canadian dollars? Chinese Yuan? I'd be surprised if it tripled relative to any of those currencies.
I wonder if the Chinese government allowed their citizens to own silver in the past, when gold was illegal? If it just recently became legal like gold did, then the silver market would likewise have undergone a market shift that would immediately drive up the price of the precious metal. If no new supply increase becomes available, then the higher prices should be "here to stay".
Another poster mentioned that there was much less industrial demand for silver, because of the disappearance of "film" cameras.
I'm surprised to hear the talk of the IMF "flooding the market" with gold in the near future. I hadn't heard that before. Something like that could quickly drive down the price of gold and/or silver. If it's just a one time "fix", then the price could rise right back up after the oversupply is used up, especially if the Chinese gold market remains open.
The fed just cut the interest rates again this past week. That's probably why the price of silver (and I'm assuming gold too) just climbed again this week (relative to the dollar, of course!).
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Pillar of the Community
United States
5318 Posts |
"What has the price rise been in Euros?" I just pulled this chart for Au in Euros:  Here's one I did a few days ago in dollars:  |
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Valued Member
United States
144 Posts |
That Euro chart doesn't look right. It looks like a dollar chart in a different market. The price in Euros is about 642 right now.
In the past 4 years, the price has risen about 2x in Euros, but 2.5x in dollars because of the weakening dollar.
Also earlier in the discussion, all the talk about the ratio between gold and silver assumes two things: the ratio of demand for gold to silver is always the same, and the ratio of supply of gold to silver is always the same. I just don't see any reason for either one of those to be true.
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Pillar of the Community
United States
5318 Posts |
Greyhav--it's not my data, and I cant' comment on it other than the source: (bulliondesk.com)
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Pillar of the Community
United States
1691 Posts |
At 19.80 per ounce, my coin club is paying 14X face...I'm sending in some melt coins so I can buy the type coins I need!
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Pillar of the Community
United States
1934 Posts |
ORC said, "I wish I knew where the silver & gold markets were heading. I wish I had put all my cash in gold about two years ago!"
Heck, even as recent as last fall.
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Valued Member
United States
473 Posts |
I've been thinking about this for a few weeks now and I haven't been able to find any "expert" opinions on it so I figured I'll ask you guys for some opinions.... If silver hits, say, $50 an ounce (tomorrow, next year, five years, whatver) what affect will that have on US coins that carry a premium over melt? Let's use the 1899 Morgan as an example. It carries a nice premium over melt in even the worst condition. If everybody is looking to make some money via speculating and such, would a coin the normally carries a small premium go up accordingly? Or would it stagnate, or even drop, because so much of collectors money is going elsewhere to pick up cheap, junk silver? Same goes for Nickels and Cents. Does the 1931S Linocoln drop a few bucks because collectors are now focusing more on silver-coins? What say you? --GAry |
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Valued Member
United States
346 Posts |
That actually makes a lot of sense, prices of non-silver and gold coins dropping simply because everyone's attention is focused on those precious metals. On the other hand, though, I'm sure there will be people that will completely ignore silver and take this opportunity to pick up the aforementioned non-precious metal coins, such as copper coins.
I was actually talking to my coin dealer about this yesterday. I dropped in for the first time in months (I took a vacation from coin collecting) and he brought to my attention that silver was near $20. Last time I checked, it wasn't even $15. Interesting stuff, but I can't tell whether or not it's beneficial news.
Edited by TimJing
03/02/2008 9:19 pm
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Pillar of the Community
United States
4870 Posts |
As long as the USA economy is doing bad, silver and the other metals will continue to increase.
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Pillar of the Community
United States
2269 Posts |
I agree, the US economy is doing poorly. But thats just part of the problem. Inflation and the failed housing market is contributing to the problem. You also have inflation in Europe and a falling US Dollar. Add that to the increased demand for gold and we should see Gold surpassing the $1,000.00 mark real soon.
At the rate Silver is going, it should hit $20.00 by the end of the week.
And If you're talking about Platinum, then thats a different story all together. The South African power problems have pushed the price of that metal from $1500.00 to $2160.00 in about a month and a half.
It looks like the next couple of months should be real interesting.
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Pillar of the Community
United States
4870 Posts |
I just now checked Kitco and silver is at $19.97/oz! Yeah!
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Valued Member
United States
130 Posts |
Look for it to hit and surpass $20 Monday!
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Replies: 86 / Views: 5,957 |
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Posted 02/29/2008 7:07 pm
