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 Replies: 9 / Views: 1,663 |
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Pillar of the Community
United States
751 Posts |
...is the title of a front-page story in today's WSJ.
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Pillar of the Community
 United States
751 Posts |
And on the back page of the Money & Investing section is a short article titled, "The Real Problem Facing the Silver Bubble"
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Pillar of the Community
United States
3670 Posts |
I think what most are forgetting, is silver got within a couple of cents of 50, months before most expected. So to pull back ten bucks, is still way ahead of schedule if you ask me. What about the summer dip I always hear about....
With these new regulations the powers to be put in that I keep seeing new posts about, to try and steer us away from silver may already be working with the shaky handed eh. With a silver shortage that may have been their motive to start with, push it up way to fast from around 25 an oz at the start of the year, to right at 50 just 3 months later, then yank the 10 dollar rug out from under their feet, and see how many sell. If you bought at 20 an oz, and it almost hit 50 (perhaps you were holding out for 100 and beyond), you may say hey, I can still double my money if I get out now at 40 an oz.....
I am gonna keep buyin, so drop away I say, as in about fifteen years when I would like to try an retire early (pipe dream), I bet my silver stash will be worth more than 40 an oz by then....
Edited by Silverhawk74
05/04/2011 6:50 pm
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Valued Member
United States
309 Posts |
Might take that long. Be alright with me if it does.
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Pillar of the Community
United States
3670 Posts |
There was a guy setting at my bar last night to back up my point above. Him and his buddy had each had a few greyhounds, way faster than I would like to sell them, and his actions showed. He was ranting on, no one else could even dream of getting in a word edge wise, but he caught my ear refiling drink again, saying he called his parents telling them to sell all their silver now, as it was fallin like a rock and now is the time to get out, and that they had already sold their gold when it pushed up close to 1550, lol. I wanted to say something, but new it was a waste of my time, as this guy was listening to nobody but himself, so I grinned an said nothing and walked away....
And I would be willing to this middle age gents parents had had there gold an silver for years, so I am sure they will make some money....
Edited by Silverhawk74
05/04/2011 7:05 pm
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Pillar of the Community
 United States
2448 Posts |
Just remember that before the fist of the year, silver declined to >26 bucks US. Just a correction. The fundamentals have not yet changed. It's great that some are dumping, but the dollar is still weak and demand will increase. I will say that I was surprised to see silver below 40 bucks.
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Valued Member
United States
487 Posts |
I'm in agreement with Silverhawk74. I'm about twenty years away from retirement and part of my retirement strategy, includes the precious metal called silver. I'll purchase more when I see where the bottom is.  |
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Pillar of the Community
United States
4008 Posts |
Quote:
I'll purchase more when I see where the bottom is. Lol... like any of us knows where / when that is. Bottoms and tops are the same in that regard. We always know where / when they were but have no clue as to where / when they ARE. So, given that, buying regularly is the best way to dollar cost average into a good position for the long term.  |
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Bedrock of the Community
Australia
21786 Posts |
The average advice I can glean from professional investment advisors is to put around 5% of your retirement savings into precious metal related investments.
Silver is down 20% from it's peak. That's fine by me.
As far as my experience is concerned, I would still be cool if it was down 75% from it's peak.
Currently, I have a bid at auction for a Geroge 111 hallmarked sterling silver gravy boat, 4 1/2 ounces in weight. This item is one of a few sterling silverware tableware items included in a coin auction. I have also lodged a bid for a gold ashrafi of the Mamluks, AD 1422-38, in gVF.
Many decades ago, I purchased in England a new 6" diameter silver salver (Elizabeth 11), which I gave to my parents as a present. I received it back in their estate.
In 1973, I purchased a solid carved silver stag figurine (reindeer), about 6" high, 8" long, from one of the leading jewelers in Sydney. I still have it. Handsome looking piece.
Edited by sel_69l
05/05/2011 02:43 am
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Bedrock of the Community
United States
10038 Posts |
The silver I "dumped" was two ASE s with which I got my CherryPickers' Guide (both volumes) and I traded/sold in a $5.00 roll of dimes for an EX 1825 Capped Bust half priced at 150.00. I originally got the ASE s at 12.00 each (actually, come to think of it - it was probably 8.00 or so each since it was in the 90's sometime?). And I had 5.00 into the dimes. As it sits, I got 150.00 for the dimes and this is what got me the half. So right now I am on the plus side in two ways: 1. initial input to the venture was probably 21-29.00. 2. I came out ahead on the b/c I could do the same trade today. A possible lose in this scenario, one would think, would be if silver shoots back up and over where it recently was (which I believe it will - and do not care if it IS in 20 years). However, any "loss" from perceived and future profits is only a loss if imagined assets. This half is something I always wanted, is in my hand (well - the safe deposit box!), and I paid 5.00 (OK allowing for inflation - around 15.00 or 20 - I think - silver was around 2.80 back in those days I got the dimes from circulation!). No problems here. |
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Replies: 9 / Views: 1,663 |
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Posted 05/04/2011 6:43 pm
