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 Replies: 70 / Views: 5,355 |
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Pillar of the Community
United States
830 Posts |
Yeah big move today for silver, I hope we can hold this level for the close or go higher. If we do it should help the technicals quite a bit.
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Pillar of the Community
United States
830 Posts |
Wow strong close for Ag, up 5% for day!
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Valued Member
United States
397 Posts |
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Pillar of the Community
United States
931 Posts |
Yeah, joe316 also said that rich guys sell their $50 silver for half price so as to not disturb the market. That way nobody knows what they're up to. I sold all of my gold for $925 an ounce tonight because I figured ol' Joe knew of which he spake.
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Pillar of the Community
United States
4008 Posts |
Careful there, Junior. Your comment almost pegged my sarcasm meter!  |
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Pillar of the Community
 United States
667 Posts |
JR is a personal check ok or did you want a cashiers check? I bought 10 Oz at the price if you remember. |
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Valued Member
United States
63 Posts |
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Valued Member
United States
117 Posts |
Yeah, I remember posting about getting a few bars at $41 and he tried to ruin my day. But I simply ignored him in my thread, and low and behold, silver has gotten over $41 at least twice, if not more, since my thread got started.
I bet he's just trolling the stock market forums, trying to get on someone's nerves. I'm sure he'll be back once the PM forums once he notices some downhills.
Either that, or he kicked himself so hard, he's still in the process of getting his foot out. GO SILVER~! Of course, I wished it hadn't moved till after the Long Beach Coin Convention, oh well. I'll just have to pray there's a HUGE dip between sept 8-11th. :P
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Valued Member
United States
315 Posts |
I am a collector more than an investor of PM. So the higher the price, the more I have to pay to get what I want for my collections. With that said. I learned to not set two things at the same time, price and date. Will silver reach $50? I think so. Will it be before the end of the month? Maybe, maybe not. Will silver reach $0. It has not for 5000 or so years, as far as I understand.
I think one ozt of gold has, thought history, been worth approximately the cost of a very fine tailored mans suit complete(shoes, shirt, socks, tie, pants, vest, jacket, etc). I purchased a new suit about a month ago and the shoes were $150, socks $8, shirt $122, pack of T-shirts(4) $20, Tie $65, the jacket, vest, and pants $1400. Tailoring was about $40 or so. About $1800, plus there was tax. So that was a little bit higher than the price of 1 ozt of gold. But, it is a very, very nice suit and if I had shopped around could have found some of the items for a little less.
There is also something that roughly correlates with the price of 1 ozt of silver. I am not sure what the items are, but it is something like so many loaves of bread, 2 dozen eggs, 3 pounds of bacon, 1 gallon of milk, 10lbs of potatoes, 1 lb butter, 5 lbs flour, 5 pounds sugar and 5 pounds of coffee. I am sure I am wrong about the items, but someone here knows what they are.
The point I am trying to make is that silver and gold, has through out history, have had roughly about the same equivalent price to certain items.
There have been some wild fluctuations at times, sometimes due to manipulation. Right now, it looks like gold is roughly fair value and silver is under value.
I plan to continue to acquire silver on dips and chase any downward weakness. I plan to start to sell non-numismatic silver at levels of $55 and if it is treading higher, I will sell in small batches on upward moves.
I sold out of gold a while back in the mid $1400 range. Yes, I left money on the table. But, the gold I sold was owned in the 300-400 dollar range.
There is a lot of fear in the market places. Fear can drive irrational decision making.
Rant over
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Pillar of the Community
United States
3670 Posts |
"I think one oz of gold has, thought history, been worth approximately the cost of a very fine tailored mans suit complete with (shoes, shirt, socks, tie, pants, vest, jacket, etc). I purchased a new suit about a month ago and the shoes "$150, socks $8, shirt $122, pack of T-shirts(4) $20, Tie $65, the jacket, vest, and pants $1400. Tailoring was about $40 or so. About $1800, plus there was tax. So that was a little bit higher than the price of 1 ozt of gold. But, it is a very, very nice suit and if I had shopped around could have found some of the items for a little less."
I see this suit to gold example often here, and it always makes me think of a scene in this movie below called "Max"....
If you like history, I really suggest watching the movie called "Max", about a Jewish artist played by John Cusack who lost his painting arm in world war I, and was very bitter over it. And he took a young artist under his wing, trying to convert him into what he thought was a profitable artist. Adolf Hitler was the young artist's name. Young Hitler went to buy a suit, and it was like 10 Marks, and he felt he had been taken by the tailor, as he came from poverty obviously and him and the entire German army an people were in a real dark place at this time after just loosing World war I....
Anyhow, without ruining it, it is a very unique fictional portrayal of what may have been, if Hitler had stuck with art, instead of getting into politics fueled by his own hate an antisemitism....
I know that is of subject, but Hitler could not paint the human face they say and his work lacked emotion, for lack of a better word, but he could in-fact draw amazing buildings and highways, which he is credited for developing, highways that is if I am not mistaken, and also he developed an entire futuristic Berlin to be built after Germany had conquered all of Europe an Asia....
Edited by Silverhawk74
08/19/2011 11:29 pm
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Valued Member
United States
315 Posts |
More of my long drawn out rant was to get to this part:
"There is a lot of fear in the market places. Fear can drive irrational decision making."
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Pillar of the Community
United States
3670 Posts |
Sorry, I jumped tracks way before the last line, lol....
Fear, no doubt causes irrational moves for sure. That is why it is best to think big moves out over a few days or longer, before making a choice....
Edited by Silverhawk74
08/20/2011 01:04 am
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Rest in Peace
United States
9104 Posts |
This was sure a lot easier when ounces of silver were buy $3, sell $4.
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Valued Member
United States
315 Posts |
Quote:
This was sure a lot easier when ounces of silver were buy $3, sell $4.  I know that bullion prices influence the numismatic hobby. However, I think if silver was $3 an oz, an 1895 Morgan silver dollar will still be the near the same price due to its rarity. So would buying high quality rare coins be a hedge in case of a massive sudden drop in PM? Not that I am going to go buy a proof 1895 Morgan(if one is even available) or a handful of 1907 MS 65 Wire Rim St. Gaudens, I still need to make the mortgage payment. |
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Pillar of the Community
United States
4008 Posts |
Quote:
Hitler could not paint the human face they say and his work lacked emotion
Oh, I am sure that Hitler's paintings did not lack emotion. It's just that rage is not generally conducive to fine art production.  |
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Replies: 70 / Views: 5,355 |
First Page
Posted 08/19/2011 3:58 pm
