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Posted: 5/3/2011 3:18:10 PM EDT
$50 a week ago,  on clearance for $40 this week?
Link Posted: 5/3/2011 3:20:50 PM EDT
Time to buy.
Link Posted: 5/3/2011 3:21:54 PM EDT
Originally Posted By rdblan2:
Time to buy.


Link Posted: 5/3/2011 3:22:03 PM EDT
Slight sell off before the big buy in later this week.
Link Posted: 5/3/2011 3:22:25 PM EDT




Originally Posted By Rudolf_Diesel:



Originally Posted By rdblan2:

Time to buy.








Link Posted: 5/3/2011 3:22:29 PM EDT
Comex changed the rules in the middle of the game... thats what happened. Dont freak out, because it will recover... and then some.
Link Posted: 5/3/2011 3:22:51 PM EDT
Link Posted: 5/3/2011 3:23:12 PM EDT



Originally Posted By Steamer:


Comex changed the rules in the middle of the game... thats what happened. Dont freak out, because it will recover... and then some.


what was the change?



 
Link Posted: 5/3/2011 3:24:21 PM EDT
A bubble .



Whenever you hear folks say how X will go to the moon, you can bet your pants that X is in a bubble. Happens every time. Glad I sold all my sliver back at $43.50,

watch it crash and burn....
Link Posted: 5/3/2011 3:26:19 PM EDT
Originally Posted By gene_wi:
A bubble .

Whenever you hear folks say how X will go to the moon, you can bet your pants that X is in a bubble. Happens every time. Glad I sold all my sliver back at $43.50,
watch it crash and burn....


Kind of was I was thinking...
Link Posted: 5/3/2011 3:28:30 PM EDT
Originally Posted By gene_wi:
A bubble .

Whenever you hear folks say how X will go to the moon, you can bet your pants that X is in a bubble. Happens every time. Glad I sold all my sliver back at $43.50,
watch it crash and burn....


While I'd like it back up to $50, I bought in around $5 an ounce or less years ago. If it climbs high again I plan on selling off and waiting for a dip.
Link Posted: 5/3/2011 3:32:58 PM EDT
i won't buy silver to "invest"

I'm going to buy it because the dollar is shit and I want a method to pay for shit when people don't take dollars anymore.  Oh, and also will buy it because I can't afford gold.
Link Posted: 5/3/2011 3:35:19 PM EDT
same thing as housing prices, CDO's, VRP's, and tech stocks.

Why do you ask?
Link Posted: 5/3/2011 3:37:04 PM EDT
Originally Posted By gene_wi:
A bubble .

Whenever you hear folks say how X will go to the moon, you can bet your pants that X is in a bubble. Happens every time. Glad I sold all my sliver back at $43.50,
watch it crash and burn....


^This.

POP.
Link Posted: 5/3/2011 3:41:53 PM EDT
Bet on red or bet on black.
Link Posted: 5/3/2011 3:42:40 PM EDT
Originally Posted By E-Mag:

Originally Posted By Steamer:
Comex changed the rules in the middle of the game... thats what happened. Dont freak out, because it will recover... and then some.

what was the change?
 


http://arabianmoney.net/gold-silver/2011/05/02/flash-crash-for-silver-futures-after-comex-margin-change/

No idea how to hot link or whatever, sorry...
Link Posted: 5/3/2011 3:45:56 PM EDT
It should be in the low $20's

lol @ calling it a sale at $40, even $30 was a blur.  There's no damn support up here in these high prices where silver is now.  Anything can shake it down to the $20's.  Take it for what you will.
Link Posted: 5/3/2011 3:48:26 PM EDT
[Last Edit: 5/3/2011 3:53:53 PM EDT by tbonifie]




Originally Posted By E-Mag:





Originally Posted By Steamer:

Comex changed the rules in the middle of the game... thats what happened. Dont freak out, because it will recover... and then some.


what was the change?





The change was people selling off paper shares. Bullion is still in very high demand, the price will easily recover. Go look at how "easy" it is to find American Eagles to buy for a decent price (based on current spot) right now.



Kitco doesn't even have any for sale... they're fresh out.

Apmex is only selling premium coins or coins for "later delivery" when they come in from the mint.  (And even those are limited supply)



The ones you can find for immediate sale have a huge mark-up right now, good luck finding them under $47 (a full $5 above spot).



So if there is a bubble, which I'm not convinced of, it has not popped, this is a mild setback...
Link Posted: 5/3/2011 3:48:32 PM EDT



Originally Posted By TheTech-1:


It should be in the low $20's



lol @ calling it a sale at $40, even $30 was a blur.  There's no damn support up here in these high prices where silver is now.  Anything can shake it down to the $20's.  Take it for what you will.


But, But, the internet told me it will go to 100, and that I should sell my house and buy buy buy....
Link Posted: 5/3/2011 3:50:26 PM EDT
Originally Posted By rdblan2:
Time to buy.


+1.  Think long term.
Link Posted: 5/3/2011 3:52:49 PM EDT
I collect Morgan silver dollars. i have since 1995.  I keep an eye out for them cheap. I figure in a pinch one there silver and 2 they are a coin any one recognizes as currency.
If the day ever comes i can trade and barter accordingly. If things get real bad I have my stash of coffe(vacuum packed), whiskey, a case each of Jack Daniels, Canadian mist and Crown royal.
This doesnt count my MRE's and ammo. Cash is also a good idea at least initially.
Link Posted: 5/3/2011 4:08:11 PM EDT
Originally Posted By E-Mag:

Originally Posted By Steamer:
Comex changed the rules in the middle of the game... thats what happened. Dont freak out, because it will recover... and then some.

what was the change?
 


Give this a read,  kinda explains it,  not that bad of a wall of text.

http://seekingalpha.com/article/178831-comex-raises-gold-and-silver-margin-requirements-validates-bull-market-strength
Link Posted: 5/3/2011 4:16:54 PM EDT
Originally Posted By sporter:
$50 a week ago,  on clearance for $40 this week?


time to start buying again.

The dip really doesnt matter to me as most of my silver was bought was it was under $20 an oz so I am still up quite abit.

J-

Link Posted: 5/3/2011 4:20:41 PM EDT
Originally Posted By sporter:
Originally Posted By gene_wi:
A bubble .

Whenever you hear folks say how X will go to the moon, you can bet your pants that X is in a bubble. Happens every time. Glad I sold all my sliver back at $43.50,
watch it crash and burn....


Kind of was I was thinking...




I tend to agree....
Link Posted: 5/3/2011 4:33:41 PM EDT
This +1

If you feel the need to own PMs dollar cost average in and you wont get hurt to bad.
Link Posted: 5/3/2011 4:34:35 PM EDT
Link Posted: 5/3/2011 4:36:42 PM EDT
Originally Posted By fr4th0:
Originally Posted By gene_wi:
A bubble .

Whenever you hear folks say how X will go to the moon, you can bet your pants that X is in a bubble. Happens every time. Glad I sold all my sliver back at $43.50,
watch it crash and burn....


^This.

POP.


Either of you wanna bet on it going back up over $50?
Link Posted: 5/3/2011 4:45:23 PM EDT
Originally Posted By Waldo:


It's called profit taking. It's a commodity and is traded as such.  It sucked in a lot of money from the little mice.

 Remember what it was like in Kindergarten when you played  the game with music and chairs? When the music stopped there was always one less chair than there were people.

Steal your little piece of cheese from the big rats and be happy. Get greedy and you'll be the last person standing without a chair when the music stops.



This, its how commodity trading works.  Greed = lose your butt

Link Posted: 5/3/2011 4:47:24 PM EDT
I have a fair amount of silver dimes, quarters and halfs. I have had them for a while- dad actually started collecting them in about '63 or '64 when we heard they were going to stop making coins from silver.
I have been watching the melt values, and they have fell almost $9 an ounce from last week.

Are these coins worth keeping or should I find a buyer? These are not the same as people who are buying bullion- right?

Jim
Link Posted: 5/3/2011 5:01:49 PM EDT
[Last Edit: 5/3/2011 5:04:08 PM EDT by BatchelorGroda]
They raised the margins (think of it as basically a buy-in limit) for the big players to slow the climb.

I predict silver will be at $60.00 + sometime around June.

Why? Because the supply of silver is far less than the supply of the dollar.

Originally Posted By pepperbelly:
I have a fair amount of silver dimes, quarters and halfs. I have had them for a while- dad actually started collecting them in about '63 or '64 when we heard they were going to stop making coins from silver.
I have been watching the melt values, and they have fell almost $9 an ounce from last week.

Are these coins worth keeping or should I find a buyer? These are not the same as people who are buying bullion- right?

Jim


A coin is BETTER than bullion. It was minted by the United States, and has a well-known value and silver content (90%).

If you would ever want trade-able silver in a SHTF scenario, silver dimes will be king.
Link Posted: 5/3/2011 5:02:58 PM EDT
Originally Posted By tbonifie:

Originally Posted By E-Mag:

Originally Posted By Steamer:
Comex changed the rules in the middle of the game... thats what happened. Dont freak out, because it will recover... and then some.

what was the change?


The change was people selling off paper shares. Bullion is still in very high demand, the price will easily recover. Go look at how "easy" it is to find American Eagles to buy for a decent price (based on current spot) right now.

Kitco doesn't even have any for sale... they're fresh out.
Apmex is only selling premium coins or coins for "later delivery" when they come in from the mint.  (And even those are limited supply)

The ones you can find for immediate sale have a huge mark-up right now, good luck finding them under $47 (a full $5 above spot).

So if there is a bubble, which I'm not convinced of, it has not popped, this is a mild setback...


If you believe that you are not a pm buyer, a lot of dealers say they are out on a dip but 99% time pull them off hoping the price goes up.

there is not a shortage of silver all demand has been meet and will be for many years to come

Link Posted: 5/3/2011 5:03:42 PM EDT
Originally Posted By EightySecond:

Originally Posted By Rudolf_Diesel:
Originally Posted By rdblan2:
Time to buy.






especially if it goes lower.
Link Posted: 5/3/2011 5:07:28 PM EDT
Its a market. What do you really expect? Stock market drops, same difference.
Link Posted: 5/3/2011 5:08:11 PM EDT
Originally Posted By BatchelorGroda:
They raised the margins (think of it as basically a buy-in limit) for the big players to slow the climb.

I predict silver will be at $60.00 + sometime around June.

Why? Because the supply of silver is far less than the supply of the dollar.

Originally Posted By pepperbelly:
I have a fair amount of silver dimes, quarters and halfs. I have had them for a while- dad actually started collecting them in about '63 or '64 when we heard they were going to stop making coins from silver.
I have been watching the melt values, and they have fell almost $9 an ounce from last week.

Are these coins worth keeping or should I find a buyer? These are not the same as people who are buying bullion- right?

Jim


A coin is BETTER than bullion. It was minted by the United States, and has a well-known value and silver content (90%).

If you would ever want trade-able silver in a SHTF scenario, silver dimes will be king.



Yeah, in theory, but like an Arfcommer said- if I show up with silver dimes trying to buy food it probably ain't gonna work.
I doubt we will ever be in a full on SHTF situation- sorry Arfcom. I wonder what real, practical value these coins will be?

Jim
Link Posted: 5/3/2011 5:09:14 PM EDT
Originally Posted By pepperbelly:
I have a fair amount of silver dimes, quarters and halfs. I have had them for a while- dad actually started collecting them in about '63 or '64 when we heard they were going to stop making coins from silver.
I have been watching the melt values, and they have fell almost $9 an ounce from last week.

Are these coins worth keeping or should I find a buyer? These are not the same as people who are buying bullion- right?

Jim





Dont sell your Dads coins you have a 0 cost basis on them.

Link Posted: 5/3/2011 5:14:11 PM EDT
Originally Posted By jcncc:
Originally Posted By pepperbelly:
I have a fair amount of silver dimes, quarters and halfs. I have had them for a while- dad actually started collecting them in about '63 or '64 when we heard they were going to stop making coins from silver.
I have been watching the melt values, and they have fell almost $9 an ounce from last week.

Are these coins worth keeping or should I find a buyer? These are not the same as people who are buying bullion- right?

Jim





Dont sell your Dads coins you have a 0 cost basis on them.




Most are just rolls he would get at the bank now and then. They are just '64 pocket change that are silver.
I also have some coins that are old. Really old. Those I will not be selling. Silver quarters from 1925 and earlier are just too neat to sell. So is my 1888 Morgan silver dollar that is in almost uncirculated condition.
I also have some pennies from the late 1800s and early 1900s that I need to get appraised, but I am not looking to sell them.

My brother and I do share an old $5 gold coin. As high as gold is that one is hard to hold onto.

Jim
Link Posted: 5/3/2011 5:15:12 PM EDT
Just another bubble. Sold my gold at 900 bought at 300 in 98 will get back in at 400, silver I'll get back in at 25 I think. Look back at the gold prices in the 80's for a history lesson.
Link Posted: 5/3/2011 5:19:02 PM EDT
[Last Edit: 5/3/2011 5:19:36 PM EDT by far_right]
edit - NM
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