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 Replies: 17 / Views: 2,574 |
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Valued Member
United States
309 Posts |
Question for the knowledgeable: with the sharp rise in pm prices, what do you guys expect to happen to the ones that are silver and gold? How long before it effects the prices of nickels and copper cents? The high price of silver for example has to be pushing out some of the coin collectors (as opposed to silver horders). How long before we see those effects in the none pm coins? Just curious to what you guys think. I knew silver was underpriced but now I don't want to spend so much on some coins just because silver buyers are pushing up those prices. What to do?
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Pillar of the Community
United States
672 Posts |
I don't think it will push up the values of the copper coins at all. Reason being is those base metal prices are controlled by industry. Even if you took every copper cent out of circ... it wouldn't even be a blip on the copper commodities market. ie... silver assays are ounces, copper assays are tons...The coin collector/ bullion investor market can influence silver price but is nowhere near large enough to sway a copper or nickel market...
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Valued Member
United States
277 Posts |
That is the million dollar question... if you are waiting till silver goes back down again before you buy again it will be awhile (if ever). In my opinion silver won't go below 40 in our lifetimes.
As far as cents and nickels it also depends on what you think, many people believe the cent will be gone sometime in the next 10 years, and if that is the case right now is the best time to get those coins, a few people also believe nickels are on the way out but not near as many. If you think copper is a PM than I would get those coins too, 4 dollars and some change a lb is very cheap compared to what it could jump to if does anything like silver does. It really comes down to what you believe, but as far as silver coins if you are waiting for some panic that drops silver back to 30 dollars an ounce so you can fill some Morgan holes, or finish that Franklin set, I am pretty sure you will be waiting along time, or passing the sets to your kids unfinished.
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Rest in Peace
United States
9104 Posts |
A local dealer is paying $1.20 per hundred for copper cents, and turning them on ebay for $1.50-1.70. As I've shown, the money is in turning them, not holding them, even if copper prices go down. No different than stock or real estate--the brokers encourage people to buy and sell, because they make money either way. If you don't want to fiddle around searching to make kaughy money, or don't want people to know about your coins, then turning is not for you. Let's say you were going to put $10,000 in savings for some long-term need. Does it really matter whether you have the money in a bank account or a pile of cents? Either has risks, but the cents are guaranteed to be worth $10,000. |
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Pillar of the Community
United States
1150 Posts |
We've been so spoiled with artificially low silver prices for so long that people are actually upset that it is now correcting and finding it's historic range in relation to gold and the dollar.
It sucks, but my question is why didn't the complainers buy more when it was less than a buck for a silver dime?
I'm not knocking anyone personally, just making an observation.
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Bedrock of the Community
United States
20753 Posts |
At coin shows many dealers are no longer buying Silver or Gold. Many suspect the metals value crash is soon to come. And when it does, and they say it will, to many will be stuck with large quantites of what used to be way up there in prices.
A stock market person I know told me to sell any Silver now since he too expects the metals crash to be coming soon.
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Pillar of the Community
United States
632 Posts |
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A stock market person I know told me to sell any Silver now since he too expects the metals crash to be coming soon. Did he give a reason? |
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Valued Member
United States
439 Posts |
The run up of Silver, gold, and other commodities is a reflection of the weak dollar. This country is in bad shape and those 2 metals represent the fall of the dollar and people's fear. If and when the dollar turns and goes higher as well as our government dealing with
the debt issue, yeah right, these metal values will drop. WHo know when. Just be careful and don't load the boat up here. It pays ot always
trickle out or flip on the way up and accumulate on the way down. Buy low, sell high. It works. I sold another $50 in face over the weekend at
32.5 times. Good luck.
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Pillar of the Community
United States
2651 Posts |
There is actually one factor that you have all over looked. The buying power of the U.S Dollar. The weaker the dollar gets the more expensive everything gets. Oil is not getting more expensive...the dollar is getting weaker so it is taking more dollars to buy the same amount of oil. Same with the silver. Wonder why prices of gas and silver have almost doubled? You can thank the Federal Reserve for almost doubling the number of U.S dollars in circulation in the last 4 years.
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Pillar of the Community
United States
2651 Posts |
Ha...well look like someone beat me to it by 2 minutes..lol good point monkey! lol
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Pillar of the Community
United States
2651 Posts |
Willy- I had people telling me to sell silver at $25/oz because it will never get any higher than that...further more my dad has been buying gold for over 4 years. He had people telling him to sell..I forget what it was at back then but it has more than doubled.
Gold and silver will fluctuate but I it isn't going to have a severe drop. Gold and Silver always hold their value...because they do not corrode...and they are limited. If you take all of the gold that has ever been mined in the world you only would be able to fill 2 olympic sized swimming pools...
I suppose if someone found a mine that had a olympic sized swiming pool size of gold it would drop considerably but I am not going to bet on that...
Im buyin...
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Pillar of the Community
United States
6326 Posts |
Ahhh........ Let the gambling begin ! .......  Some will lose and lose ROYALLY......some will win and win BIG.... which one will each of us be ? ........  THAT is the real million dollar question ! .....  |
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Bedrock of the Community
United States
17884 Posts |
I think he was referring to a rise in the prices of copper and nickel coins because of collectors of silver coins being pushed out by the high silver prices and turning instead to the base metal coins.
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Pillar of the Community
United States
672 Posts |
The dollars value is depreciating, I don't think anyone can argue it has not, but the fact is that it has not lost over half its value in 12 months even by the worst estimates (as silver has doubled). I think silver will fall, will it be 7$ an ounce again... Nope... but I do think that there is a lot of fear in the market driving the prices though. And buying something on fear is never a good thing. Do I own silver... Yes... do I think it has intrinsic value that can never be taken away... Yes... will I get rich off it, nope. I view it as a hedge bet, not the main bet.
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Valued Member
 United States
309 Posts |
That's exactly what I meant condor. Less worried about what silver is doing, you know?
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Bedrock of the Community
United States
20753 Posts |
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Did he give a reason? Only that there are extensive rumors floating aroung about companies holding back production of Gold and Silver to aquire the highest prices. Eventually they all will start re-releasing those and the ball will start rolling where other companies will do the same so as not to be stuck with large quantities. This is sort of like Diamonds where there are really a lot of them today and many can now be produced. But a certain organization is holding back massive distributing of them. According to this guy, who usually appears to know stuff since he makes a real lot of money, the fall is coming and sooner than people think. Such might be the reason for coin dealers to be slowing down on purchases. |
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Replies: 17 / Views: 2,574 |
Posted 04/26/2011 12:35 am
