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 Replies: 13 / Views: 2,323 |
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Pillar of the Community
United States
3670 Posts |
Poll Question
So it seems like gold is still climbin steady, but silver seems stuck around 35, be it with much support seems like to hold it there for now anyhow. Which way next....
Six choices below....
Edited by Silverhawk74
05/24/2011 01:38 am
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Pillar of the Community
Canada
1733 Posts |
I think there's a lot of life in silver. Extremely volatile but feel that it will more closely follow gold the rest of the year. I think the last plunge shook the casual speculators out, I don't anticipate another huge run backed by everyman, if it gets insane quickly it'll be the big boys manipulating things.
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Pillar of the Community
United States
931 Posts |
Who knows? I think that there is a lot of gloom ahead in the currency markets with regards to the dollar. The reason it went to $50 like a rocket was due to speculation and ETF action. If silver starts to make a move again it is entirely likely that short term investors will try to grab an easy 20% again. I think it will make another run towards $50 before years end. It could also hit $15 again (I hope!).
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Valued Member
United States
297 Posts |
I think silver will slowly start to climb back up to $40 and beyond. I don't think it will climb by leaps and bounds but I think a steady increase for the forseeable furture is likely.
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Pillar of the Community
 United States
3670 Posts |
Interesting thoughts. I voted third choice down, drop to 30 for a bit an then push up to 75, but the most votes so far is for is the last choice, with silver pushing on up to 75 an 100....
Very interesting, the positive future for silver in most eyes so far....
On the other end of the spectrum, only a couple feel it will fall into the twenties and want out, and six feel it is more or less stable for the rest of the year....
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Valued Member
Canada
442 Posts |
With all the other precious metals way above $100, I think silver has a long way to go. Just need to get over the pscyhological gutter metal, devils' metal, etc etc
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Pillar of the Community
United States
3345 Posts |
Im gonna buy it when it gets to $15 for a ASE. |
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Pillar of the Community
United States
4008 Posts |
Quote:
The reason it went to $50 like a rocket was due to speculation and ETF action. - Junior That very well could be. I read on-line the other night that the big SLV ETF had more than 11,000 TONS of silver stored in their vaults. If true... man, whatta hoard that is!  |
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Pillar of the Community
United States
2734 Posts |
Quote:
I think silver will slowly start to climb back up to $40 and beyond.  It should pick up some speed once the symbolic $50 barrier is breached. No complaints, I'm buying more junk silver at melt  while everyone else is paying big premiums for ASE's...  |
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Pillar of the Community
United States
4008 Posts |
Quote:No complaints, I'm buying more junk silver at melt while everyone else is paying big premiums for ASE's... Maybe so, but some of us REALLY like those ASEs! My collection is an investment, a store of value, and also a thing of joy and beauty. I thoroughly enjoy getting it out from time to time and just looking at it. Nothing wrong with 90% silver coins either but, except for the Morgans, I prefer the ASEs and am willing to pay a little more for them. To each their own.  |
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Pillar of the Community
United States
3670 Posts |
Silver started back up again from around thirty five, and now is real close to passing thirty eight once again....
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Pillar of the Community
United States
2120 Posts |
Quote: I'm buying more junk silver at melt while everyone else is paying big premiums for ASE's... Thats what I've been doing. All the shops in my area have been hurting since the drop. Many of them have just pulled their silver and are waiting. The others are dropping $4-$6 dollar premiums on ASEs and $1-$2 premiums on Generic Rounds/Bars. One shop I have has a deal that if you buy every coin in a basket (mercury's, halves's, etc.) you get it for 2x face less than the current ask. Each basket has usually about $70 face in it. Good deal for 90%, it usually puts it right at spot, if not just below. They also are doing good quality Basket dollars for about 32x face. |
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Pillar of the Community
United States
2734 Posts |
Quote:
Ed_B: ...but some of us REALLY like those ASEs! This is my favorite ASE, my lucky pocket piece. I bought this 1989 ASE in 1993 for $1, from a 7-11 cashier's drawer.        My grandfather gave us Proof ASE's for Christmas from 1986-2008. I have every single one of them he gave me. The irony of no Proof ASE's being minted in the year he passed away (2009) is not lost on me. I gave two 2010-W Proof ASE's as Christmas presents in 2010, to continue his tradition. Now, since I think I've adequately answered if I "like" ASE's or not, let me just say that I don't want to pay $5 or more over spot for common-date bullion ASE's. Mint News Blog: San Francisco 2011 Silver EaglesEdited by DNA
05/27/2011 11:13 pm
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Pillar of the Community
United States
4008 Posts |
Great story, DNA. I love reading stuff like that. I'm one of those codgers out there who still remembers when a $1 paper bill could be swapped for a $1 silver coin at any bank or even at most stores. They called those bills Silver Certificates and they were the common dollar bills at that time. Of course, one can still swap paper money for a nice silver dollar coin, but... it takes 45-50 $1 FRNs to buy ONE silver dollar these days. This neat little effect is why so many of us consider silver and gold as REAL money and FRNs as monopoly money. We know that in 10, 15, 20 years, our silver and gold will still have considerable buying power - perhaps much more than they have today. FRNs? Not so much! As one web site I read the other night put it, "Paper money is the PROMISE to pay a debt. Gold and silver ARE payments of debt". |
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Replies: 13 / Views: 2,323 |
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Posted 05/24/2011 10:27 am
