View Full Version : Silver Is Up
March 02, 2006, 13:12
It is now at $10.15. Don't know if it will stay but that is the first time in decades it has been so high, I believe.
March 02, 2006, 14:12
Some investors got spooked in the recent dip. But I just looked at it a great buying opportunity in what is an overall bull market. I stand by my previously posted predictions.
"To the Moon, Alice!"
March 02, 2006, 15:21
I bought at $7 when I read some info about what was happening in the silver market. My wife was not too sure but I convinced her I was only changing the form of the money. Paper to .999 coin. She saw the logic. 45% return is not bad. I have a friend who is bragging about 3% CDs. He won't touch silver. I had a 401 in the market several years ago when it was flying. I was investing in stocks and every six months or so I would shift it from stocks to bonds. I was called nuts but the naysayers money went south and mine kept going up even when the dotcom busted. Now I shifted some to silver and off it goes. Money cannot be left static and I don't see faux currency improving in the future. It has been inflated drastically under this president and we now have a Fed Chief that likes big swings in monetary control. Hang on.
March 02, 2006, 16:59
Let me ask a somewhat stupid question here. Where does a person go to buy silver at the cheapest rate? I have seen it in one oz. bars in years past at a coin shop that I used to frequent. Is it smarter to buy it in silver eagles, or in bar form? Silver eagles don't seem too expensive, unless you are buying them in proof edition.
About ten years ago, I called the "Monex" Corp. for some info on buying precious metal. I didn't, and these folks would not leave me alone for about the next six months or so. Finally got pissed, and got really rude with them. I would like to avoid this again, if at all possible.
March 02, 2006, 17:49
Ya know; the last time Jim posted about silver going up, I went to look at my small stash of pre-64 coins that had been saved up over the years.
Oooops! Looks like some little mouse has got into them and cashed in! :mad: :eek:
I didn't have a bunch, mebbe $100 face value (so, what WAS it worth?), but it WAS a start!
Mebbe the best way is to just ask friends, neighbors, etal to start saving the odd coins for your "collection" ;) Face value to current pricing is a decent return!
JR in the NW
March 02, 2006, 21:58
Originally posted by Deltaten
I didn't have a bunch, mebbe $100 face value (so, what WAS it worth?)
$725 at todays price for silver.
March 03, 2006, 17:38
Where does a person go to buy silver at the cheapest rate?
Just follow the links and follow the directions. It's quick and easy. Good poeple.
March 03, 2006, 18:54
Originally posted by squid8286
Where does a person go to buy silver at the cheapest rate? I have seen it in one oz. bars in years past at a coin shop that I used to frequent. Is it smarter to buy it in silver eagles, or in bar form? Silver eagles don't seem too expensive, unless you are buying them in proof edition.
First, you need to know how to find the current price of gold/silver.
KITCO (http://www.kitco.ca/market/) is one of the many sites that have that online. They also sell here. (https://online.kitco.com/sellprice/completelist.html)
Once you know the price, you will know how much of a premium your dealer is charging to sell to you.
If the local pawn shop/coin dealer is charging a dollar an ounce over the spot price, you can compare that to what it will cost to buy it online. Don't forget to include shipping.
Kind of like check dealer price in Shotgun News to see whether to buy from a stocking dealer or order through an FFL
March 03, 2006, 19:05
Friday March 3, 2006
Silver hits new 19-year high
NEW YORK (AP) - Silver futures reached a fresh 19-year high Thursday on anticipation over possible approval of a silver exchange-traded fund, and on news of a strike at a Mexico mine.
The most-active May silver contract reached a high of $10.225 an ounce at the New York Mercantile Exchange - its highest level since April 1987.
The contract settled at $10.208, up 41.8 cents on the day.
Jim Quinn, a commodity floor analyst with AG Edwards, said once the white metal ran through the $9.90 and then $10 an ounce level, the buying by funds and investment banks ensued.
He noted that market players are anxiously awaiting news on whether the Barclays silver ETF will be approved by the U.S. Securities and Exchange Commission.
Officials at both Barclays and the SEC said there has been no decision yet on the ETF proposal.
The SEC has said that there is no definite timetable on when a decision will occur.
Meanwhile, an ongoing strike at Mexico's Penoles _ the world's largest silver mines - gave strong support to the market, said George Gero, vice president at RBC Capital Markets Global Futures.
The strong rally in silver helped to prop up gold futures, which settled up $4.60 at $570.40 an ounce for the most-active April contract.
During the session, April gold reached its highest level in a month at $570.80 an ounce. April platinum settled $3 higher at $1,054.80 an ounce.
Copper futures were supported by labor problems that emerged at Mexican mines this week.
The most-active May copper contract settled up 3.2 cents at $2.2675 per pound.
The nearby March futures settled 3.2 cents higher for the day at $2.2755.
March 04, 2006, 00:45
Thanks for the good info, folks.
March 05, 2006, 09:45
I wonder how hard it would be to sell your silver when the price tops out or when the price is falling. I got a bag ($1000 face value) when it was below $5 so I'm thinking I'll sell when it gets to $12 - IF I CAN FIND A BUYER..........
JR in the NW
March 05, 2006, 16:52
I'm thinkin that at $12.00 you won't ave any difficulty finding buyers but when silver hits $1000.00 an ounce your bag-o-silver will be at $715,000.00 and then it gets tough!:biggrin:
I'm just glad I bought when the price was at $3.25 an oz. :)
March 07, 2006, 10:44
That must have been just after the Hunt brothers blew the market out with their attempt at cornering. lost their shirts on that one.
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