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 Replies: 15 / Views: 2,425 |
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Pillar of the Community
United States
3640 Posts |
Just 28 years ago. Maybe it's time again :) Silver hit $48.70 per oz. Silver values below (Aaarghh...) War Nickel - $2.74 ea. ($109.60 per roll) 90% dime - $3.52 ea. ($176.00 per roll) 90% quarter - $8.81 ($352.40 per roll) 90% half - $17.61 ($352.20 per roll) 40% half - $7.21 ea. 90% dollar - $37.67 ea. Oh Well !! |
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Pillar of the Community
United States
1415 Posts |
I don't think it will get that high in the near future! Wasn't that caused by nefarious people(I forget their names) attempting to control the gold market? I vaguely remember - I was much too young!  |
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Pillar of the Community
 United States
3640 Posts |
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Moderator
 United States
188120 Posts |
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Pillar of the Community
United States
5318 Posts |
Something to consider too is that $48 in 1980 translates to $127.62 in 2008 using CPI index calculator at bls.gov.
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Pillar of the Community
United States
7629 Posts |
And silver is currently at $12/oz. So where can we derive that metal prices will go back to 1980 levels? I just don't see it.
How about less than three months ago when silver was at $21/oz., gold at $1,000/oz., and platinum at $2,200/oz. Yesterday silver was at $10.60/oz., gold at $780/oz, and platinum at a very hurtful $1,030/oz.
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Valued Member
United States
88 Posts |
I hope that we don't see metal prices that high again. If we do, that will mean that the economy is in serious hurt. The price of gold and silver mirrors the strength of the US dollar in many ways. When the dollar is weak or there is high inflation, people put by silver and gold as hedges.
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Pillar of the Community
United States
3640 Posts |
The economy "is" in serious hurt. the feds are once again
trying to bail out the big shots and sticking their finger in a very leaky dike again by lowering the prime rate. This never works and never will. Lately silver has dropped even though the u.s. dollar
has been dropping as well as oil prices. usually the opposite happens. Right now if people buy more silver (because of the low price) that will eventually drive the price up. Even though I do not like it, china has THE grip on world economics right now. this may sound ridiculous, but speculators and economists predict that china will soon own 99.9% of the worlds silver. If and when that happens,
get this mind you, silver will be valued at around $8,000.00 an oz.
It will be a commodity more valuable than gold as far as inventory.
Of course if that happens (or before) the feds will step in and either
confiscate or by other means take away any silver joe working stiff already has. the only winners will be the ones who already own or buy up all the silver they can now or in the near future and then dump it
when they feel the time is right. either way the economy will still stink. I may not agree with what a few people did back in 1980 as far
as scruples, but hey, it is a free country and if you want to buy something legally you have that right. silver is strange, usually like
an commodity the prices are reflected by supply and demand. We do not have much of a supply of silver so ?
I am no political, financial or economics expert but it is not rocket
science. (Oh, I'm not a rocket scientist either:)
I decided just lately to buy some silver at just below spot price.
I'm hoping the timing was correct. got it at the lowest spot last week. if you can't beat em, join em !
can someone lend me 50K ? :) i'll pay ya back with interest.
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Pillar of the Community
United States
5318 Posts |
Quote:
...silver will be valued at around $8,000.00 an oz. Obviously, this is impossible, right?  |
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Valued Member
United States
80 Posts |
Indian1
I'm a newby and don't quite understand but know silver will eventually have to go back up. Right?
Anyway, how do you buy silver? By the coin, bullion, ?
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Pillar of the Community
United States
3640 Posts |
If you had asked someone in the mid 1940's the same question, Be it not 8K, but let's say, 48 to 50 dollars the answer would be most likely, Impossible. That 8k figure I think was based on the fact that if china along with a few other countries that use silver as trading means etc. had it all, at the time the supply and demand figured it in. We need silver period. one way or another for manufacturing purposes. we would have to pay what the holder asked. My personal opinion on buying silver (i did say I bought bullion) but mean't bullion junk coins. 90% halfs would be a better return as they are not as worn out as let's say dimes or quarters. More silver by the oz. in them. Plus they always have there monetary value to boot just in case all hell breaks loose one day. They would be more money than quarters or dimes. I also like quarters myself and those along with dimes are a little cheaper to get that's why. Shop around and see whats out there. naturally the greater quantity you buy the less expensive they are. Right now the silver market is unstable and it is very hard to find it under spot price. usually during normal times you should not pay any more than 10% under spot price. Check out local estate sales, flea markets etc. you can find some real good bargains at times there. ebay sells usually (factoring in shipping) just above spot price. not a great deal for either the buyer or seller. sometimes you get lucky though if you bid on enough items. |
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Pillar of the Community
United States
2335 Posts |
Just like anything else, if silver gets too expensive someone will find a substitute product to use in the manufacturing process.
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Pillar of the Community
United States
1415 Posts |
Yup, it was the Hunt brothers. What a scam! They would sell gold at below market value. People, being the distrusting type, would buy a coin or two. The Hunt's would take the hit. Once the distrusting people got their merchandise, they would order lots - which would be 'back ordered'! Gee, I hope silver goes to $8K - time to retire  |
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Bedrock of the Community
United States
12437 Posts |
Huh   The Hunt Brothers did not have anything to do with gold and they did not sell coins. They attempted to corner the silver market with futures contracts and a $100+ million margin call got in their way  |
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Pillar of the Community
United States
1130 Posts |
Quote:
Yesterday silver was at $10.60/oz., gold at $780/oz, and platinum at a very hurtful $1,030/oz. Yup, and yours truly bought a whole bunch because of all the rumors about production shortages and power failures in the mines of South Africa. |
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Pillar of the Community
United States
3640 Posts |
Some interesting reading if you want.
Google Peak Silver and or Ted Butler
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Replies: 15 / Views: 2,425 |
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Posted 09/17/2008 10:20 am
