silver prices...

[rockriver]

at the end of jan. there was a coin "show" in the middle of our state.
i rounded up several hundred to go look for junk silver bargains.
--
the show was open fri, sat. and sunday.
--
thurs, silver was 27/ounce.
on friday it went to 28/ounce.
i was disappointed, knowing that this would cause the junk i wanted to go up about 5 %
--
so i just bought a little bit.. knowing that silver would be down again soon. i didn't spend all i took with me.
pre 64 silver dime was about 1.85 - 1.90
silver eagle.. (which is one ounce) i found one guy that sold me his for 28.00.
i thought i was paying too much in both cases.
--
now, 10 weeks later.
silver closed yesterday at abou 43.00 per ounce.
--
today.
that dime would cost me about 3.10 and the eagle about $ 43.00

i made a huge mistake by not spending every penny i had.
something is going on with the purchasing power of the american $$
food is racing up.
silver is racing up.
gasoline is racing up.

seems to me it is better to have food, silver, gasoline than the american dollar.
hmm. i've been slow to act. too slow.

[Rmplstlskn]

something is going on with the purchasing power of the american $$
food is racing up.
silver is racing up.
gasoline is racing up.

Nope, your DOLLAR is actually RACING DOWN... That 1oz. silver round will still about buy what it did years ago, or even longer ago (but I'm not an expert on such comparisions)

Rmpl

[antishot]

I have been buying silver for years. Started to buy it when it was around $12 an once. I am still buying it not as much because it is up there now but the thing is as the dollar goes down the price of silver goes up. I have been also keeping all my pre 1981 penny and all my nickels. Pre 81 pennies are worth $.03 because of copper and nickels are worth $.07. That is there melt worth.

[monkeybird]

The price of silver (and gold) should tell us all about the state of the world economy.

[rockriver]

monkey, i think you are right.
but it is hard to buy after this big runup...
--
a friend, who showed at one campout a few years ago, deals in silver.
he says it has a long way to go... UP.
he says things will get real bad based on the value of the dollar/inflation/etc...
BUT
he won't buy food. if he won't buy food, i'm not so sure he really "believes"

[Patriotic Sheepdog]

but it is hard to buy after this big runup...

RR...
Look at this article, it may change the way you think.

http://dont-tread-on.me/the-real-silver-high/

[protus]

While spot/ and melt prices mean something to someone...i highly doubt that i could walk in with a 10oz bar to a PM dealer and walk out with 480$

I stopped buying when it crested 10$ per oz. I should have got some more, but instead i dropped that cash into
food,ammo,water filters and stuff to keep me dry,fed and warm....along with becoming debt free.
IMHO you can have 100 lbs of PMs of your choice but if your swiming in debt it will do you no good..... unless people are in teh school of " well $$ collpase means no banks,, no debt and im rich ole money bags with all my gold....."
same cold be said for all my paper money in the bank....

that said..

i snag up any and all junk silver and gold i can find....i wonder how much 1 oz of junk gold would bring right now at a dealer....

but somehow i see the PM trade/buy game as trading in a gun at a gun show...

that mint in the box polytech AK which is worth 1500$ "ONLINE" will get no offer over 500 from the FFL's.........;)

[monkeybird]

People need to inventory their homes and jewelry box to assess the value of their silver and gold. I have silver purchased for household use. A few years ago I purchased a silver tea service at an auction. Today, it worth 10 times what I paid for it. Also, gold. After 35 years of marriage my husband has given me a lot of jewelry.

The percentage of gold and silver of jewelry and silver items can be calculated by the K. weight. It adds up fast. http://gold.yabz.com/jewelry.htm

Unfortunately, home invasions have significantly increased due to the "highest price paid for gold" signs outside pawn shops. Hide you PM well.

[barfife]

I drove 75 miles yesterday to trade a extra 10/22 rifle ($160 value) for 10 Morgan silver dollars ($361.10 value). He was tickled and so was I.

[rockriver]

new news on silver.
it went to 49/ounce.
today it is down to 35/ounce.

so i came back to review this thread.. looking to see if anyone said. sell sell sell.
i wanted to congratulate that poster!

well i haven't lost anything. i got in at 28. but i'm 14/ounce off the high...
coulda woulda shoulda !!

i don't know what's going on.
the little bit of extra groceries i have seems to still be climbing in value!

[WiseOwl]

I got this update earlier and was going to get on here and post this news as well. The dollar is going up too.....weird.
Time to buy more ....:)

[antishot]

well if you ask me I think the price will go down to about 25-28 and hold for a bit. But then it will go back up because the BL thing will fade fast and the dollar end up going down again. But the big problem is around here 90% of the silver has been bought up and who is going to sell ther $49 silver when they know that they are only going to get todays price. If all else fails look at the ten year that baby shows it is going up and up.

[WiseOwl]

With hyperinflation on the cusp, silver will hit $100/oz.....gold will hit $2000+

[Bill Foster]

As brother Mark would say, don't forget the other precious metals; brass, lead, and copper. Wally world continues to be a good source of 9mm. Where I am, 50 rds. of round nose, $9.98.

[WiseOwl]

As brother Mark would say, don't forget the other precious metals; brass, lead, and copper. Wally world continues to be a good source of 9mm. Where I am, 50 rds. of round nose, $9.98.

You got that right!!!