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InvisibleThe Phleg
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21903141 - 07/05/15 10:18 PM (8 years, 7 months ago)

Sounds good. I'll definitely be stocking up on a few more pieces if it does.

For future reference when the price goes back up, how do you sell off pieces ranging from bullion to small 5/10oz bricks for maximum profit? The place I buy from now buys for a few bucks under and sells a few bucks over, so I don't think I'll sell everything back at that location.


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You wanna get high? Drink tap water.
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InvisibleAdden
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Re: Bottom Finally In For Silver? [Re: The Phleg]
    #21903209 - 07/05/15 10:42 PM (8 years, 7 months ago)

Sell your cull coins or silver flatware if you have them. Generic .999 bars go first and you get paid spot. American Eagles and Canadian Maple Leaves especially, get premiums added to the melt value. Anything else .9999 will have a nicer value than slag. No shop really will pay that big of a premium but I've heard good stories of people unloading en masse on APMEX. I had a bad experience with them as a customer but great with selling. I'd much rather be holding some stunning Morgan Dollars or a nice Peace. Their numismatic value stays fairly consistent and goes up when silver rises. If someone were to dump anything I'd recommend throwing away your 20 sleeve of Sunshine Mint bars.

When silver goes up again I'm in a good spot. Now that I've planned this out and started from the beginning. Made out like a bandit. I've also got my quality US coinage.. even down to 2 and 3 cent pieces and key dates that areally stunning. Morgans, Walking Libs, and Barber will always be valuable; even V nickels. The gold and silver in my coin collection is top shelf but I've got my "scrap" stash for when it hits. I don't care how long it has to sit but it'll be great. My father who is 66 has been collecting since he was a boy and has never let me near his to this day. He says it's his final gift to me which is amazing, but no gift could be good enough to lose that man. (Sorry a bit emotional he's not well).

But I digress I'm really high, if you're looking to invest always pay "spot" and some premiums on eagles/leaves. You also have to consider if you're buying 5 ounces, you may as well buy 25 or 50+ ounces and have them chop the price off.

Watch prices on ebay too so you know how the gold/silver jewelry market is doing. It's not great from what I've seen. Be aware though people do fine-print scam you into a silver plated replica.

Sometimes I wonder what you guys do with your money. It'd be nice if we could post anon. Personally I've got my big bars in a safety deposit box with my biggest gold and main collection, and keep a shit-hits-fan circulated US silver coins. There's some Canadian in there too in case.

I'm baked I should play video games or something, hope you all had a great and safe 4th of July. Thank you to the veterans and boys and girls out there. Means a lot.


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InvisibleThe Phleg
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21903246 - 07/05/15 10:51 PM (8 years, 7 months ago)

Thanks for the info. :thumbup:

I probably don't have near as much metal as some of the posters here as I'm just getting into it. I keep the little I do have in my parents safe deposit box, they barely use any of the space in there. :shrug: It is easy to lose track of what I've put in the box, but I just buy a few pieces here and there when I've got a little extra cash that would otherwise end up being spent on bad investments.


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You wanna get high? Drink tap water.
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InvisibleAdden
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Re: Bottom Finally In For Silver? [Re: The Phleg]
    #21903509 - 07/05/15 11:45 PM (8 years, 7 months ago)

It's probably not going anywhere for awhile and likely go down even further. I'd just hang onto the stronger dollar and keep an eye on it. Even if it hit a 30 again that'd be nice. Then your rainy day fund can be flipped for a lot more money but you'd have to be able to do it quick with cash in hand. Places were mobbed from people buying and selling like madmen or their coin collections/jewelry and estate stuff. The antique guy in Fargo made out big on flatware when it started to go up and he got right out on time. Said not to buy any gold or silver antiques now, even, and they've become cheaper. Full sterling sets and spoons and what have you will retain value for the most part depending what it is.

I'm thinking of getting a gold chain like the silver one I wear in memory of someone. It would match my bracelet and watch. I should probably get up on that but I'm worried about gold right now. Palladium looks enticing, even more than platinum. Something big would have to happen to make these skyrocket.


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InvisibleThe Phleg
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21903603 - 07/06/15 12:11 AM (8 years, 7 months ago)

Oh ya, I don't plan on selling any time soon. It just crossed my mind that I'd only been buying, and that was easy. Never thought about the other end. :tongue:

I'm not really a serious buyer right now, just gonna keep buying here and there for as long as it remains under 20/oz.


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You wanna get high? Drink tap water.
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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: The Phleg]
    #21906292 - 07/06/15 05:56 PM (8 years, 7 months ago)

Crazy prices for shiny rocks.  The bottom is nowhere near "in."  Gold and silver going a lot lower.


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"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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InvisibleAdden
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Re: Bottom Finally In For Silver? [Re: KauaiOrca]
    #21906949 - 07/06/15 08:14 PM (8 years, 7 months ago)

It boggles my mind that an ounce of silver isn't worth 20 dollars.


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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: Adden] * 1
    #21908563 - 07/07/15 07:30 AM (8 years, 7 months ago)

Quote:

Dys said:
It boggles my mind that an ounce of silver isn't worth 20 dollars.




It's a shiny rock.  It should be worth far less.  It produces no real value, has some industrial applications, but most is just concentrated into bars and vaulted.


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"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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OfflineDr. P. Silocybin
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Re: Bottom Finally In For Silver? [Re: KauaiOrca]
    #21909399 - 07/07/15 11:56 AM (8 years, 7 months ago)

I can't believe that with all the volatility in the global economy right now that gold and silver prices are falling. I guess it's because the dollar is relatively stronger compared to the other major currencies. But with all these problems developing around the world I really doubt the fed will be raising rates this year. It seems like the precious metals markets are acting totally irrationally.


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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: Dr. P. Silocybin]
    #21910212 - 07/07/15 03:29 PM (8 years, 7 months ago)

Quote:

Dr. P. Silocybin said:
I can't believe that with all the volatility in the global economy right now that gold and silver prices are falling. I guess it's because the dollar is relatively stronger compared to the other major currencies. But with all these problems developing around the world I really doubt the fed will be raising rates this year. It seems like the precious metals markets are acting totally irrationally.




They really aren't.  Precious metals are grossly over valued both as an investment and a way to store wealth.  No dividend, no inherent value, price easily manipulated by large buyers and they mostly react to fear.  As other markets perform better (equities, debt, etc.) metals become less and less attractive.  The fear of the end of the world is what drove metal prices parabolic.  As that irrational fear falls, so do the prices.


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"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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InvisibleDieCommie

Registered: 12/11/03
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Re: Bottom Finally In For Silver? [Re: KauaiOrca]
    #21910288 - 07/07/15 03:48 PM (8 years, 7 months ago)

Quote:

KauaiOrca said:
The fear of the end of the world is what drove metal prices parabolic.  As that irrational fear falls, so do the prices.




Makes sense to me.  The fear mongers and the gold bugs are one and the same.

I expect lower prices in the near future.


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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: DieCommie]
    #21910745 - 07/07/15 05:28 PM (8 years, 7 months ago)

Quote:

DieCommie said:
Quote:

KauaiOrca said:
The fear of the end of the world is what drove metal prices parabolic.  As that irrational fear falls, so do the prices.




Makes sense to me.  The fear mongers and the gold bugs are one and the same.

I expect lower prices in the near future.




The thing about metals is they ARE NOT AN INVESTMENT.  They are a method of storing transferable value/wealth.  Their value has nothing whatsoever to do with anything related to supply, demand, usefulness, dividends, etc.  As Warren Buffett once said, "we dig up shiny rocks with near slave labor, melt them down and concentrate them, then bury them back into the ground and hope they go up in value." 

They are extremely heavy to transport, expensive to guard/protect, easily stolen if not vaulted and the fact is, they do absolutely nothing to make the world a better place.  The mining of precious metals that are simply vaulted somewhere is a plague on mankind.


--------------------
"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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OfflineManianFHS
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Re: Bottom Finally In For Silver? [Re: KauaiOrca]
    #21912588 - 07/07/15 11:28 PM (8 years, 7 months ago)

Regardless, its a method of saving your money rather than spending it. I cant predict where it will be in terms of monetary value say, 30 years from now, but would be shocked if your $15 investment wasnt worth at least double that.

Not as profitable as some well playing dividend paying investments, but less risky, imo. I would buy another 5k worth if they were to drop to 10/oz. Originally bought at $23 an ounce, but am actually happy to soon have a more ideal buypoint for my longterm hold. It will go in a safe and come out either when I see an optimal exit to get my untaxed returns, or when I die :laugh:


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notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: ManianFH]
    #21913454 - 07/08/15 04:45 AM (8 years, 7 months ago)

Quote:

mick said:
Regardless, its a method of saving your money rather than spending it. I cant predict where it will be in terms of monetary value say, 30 years from now, but would be shocked if your $15 investment wasnt worth at least double that.

Not as profitable as some well playing dividend paying investments, but less risky, imo. I would buy another 5k worth if they were to drop to 10/oz. Originally bought at $23 an ounce, but am actually happy to soon have a more ideal buypoint for my longterm hold. It will go in a safe and come out either when I see an optimal exit to get my untaxed returns, or when I die :laugh:




Metals are extremely volatile and risky.  Silver has lost 1/3 of its price value over last several years.  The metals markets are easily manipulated and the more that metals are seen and played as a competing currency, the more, I believe the price will be driven down.  The other thing is that metals essentially just remove currency from circulation.  When you invest in a company in some way, that money goes into some sort of circulation 

To each his own, but the original question … has silver hit bottom … the answer is definitely  no.  It will go lower and probably a lot lower.


--------------------
"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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InvisibleThe Phleg
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Re: Bottom Finally In For Silver? [Re: KauaiOrca] * 1
    #21913572 - 07/08/15 06:03 AM (8 years, 7 months ago)

Can't go below $0. :shrug:


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InvisibleDieCommie

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Re: Bottom Finally In For Silver? [Re: The Phleg]
    #21913800 - 07/08/15 07:52 AM (8 years, 7 months ago)

Quote:

The Phleg said:
Can't go below $0. :shrug:




True, but physical metals have a cost associated with them.  The burden of storing, safeguarding and transporting them is non-negligible.  Once that becomes more expensive than the metals you could have a worth less than zero.  That is not likely to happen, but the burden and cost is still there.

Years ago when silver was higher I sold my horde off.  It was under 10k worth of silver but it was still a huge pain in the ass to sell.


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InvisibleStonehenge
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Re: Bottom Finally In For Silver? [Re: DieCommie]
    #21913882 - 07/08/15 08:20 AM (8 years, 7 months ago)

If something has a value of zero why would there be a cost in safeguarding it? Who would steal it? Not that pm's are ever going to go to zero. You can quote me on that.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: Stonehenge]
    #21914375 - 07/08/15 10:32 AM (8 years, 7 months ago)

Quote:

Stonehenge said:
If something has a value of zero why would there be a cost in safeguarding it? Who would steal it? Not that pm's are ever going to go to zero. You can quote me on that.




People often see more value in a "thing" than the available buyers do.  Those who own silver and gold in big quantities have an attachment to it that goes well beyond rational investing.  It is often associated with a fear or desire that the world's infrastructure collapse and we go into some kind of anarchy situation where metals, bullets, rations, etc. become the only way to survive. 

Personally, I don't think that is coming and see much better ways to store and build wealth through investments than gold/silver.  I don't get any psychic pleasure from seeing a stack of gold coins in my safe.  I enjoy much more owning shares of dynamic companies that are creating things, employing people, helping fund mortgages and education payments and made up of dynamic people.

But, if shiny rocks float yer boat, then why not?


--------------------
"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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InvisibleAdden
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Re: Bottom Finally In For Silver? [Re: ManianFH]
    #21914585 - 07/08/15 11:38 AM (8 years, 7 months ago)

Quote:

mick said:
I would buy another 5k worth if they were to drop to 10/oz. [sic] but am actually happy to soon have a more ideal buypoint for my longterm hold.




I'll throw 5k at 10/Oz and 10k at 5/oz. It sounds like a fools errand (maybe it is) buying on a downward trend. But who's going to tell me what to do with my own money :lol:

Quote:

It will go in a safe and come out either when I see an optimal exit to get my untaxed returns, or when I die :laugh:




Wife and I just did our will & testament. Spoke with her at length about the metals. If they're cheap and it's a loss and I'm gone, who cares I'd be dead, she would need it for something eventually. Or if it got passed to my nephew. Metals aren't going to drop out forever. If I'm dead and gone and someone I loved in my life can benefit from gold/silver/coins then sure! Sell it all at 2 an ounce, screw it.

Speaking of, with silver at 5 or 10 an ounce, Canadian Maples are more enticing. I'd imagine their premiums will go up as the price drives lower.

...

In the meantime, China's stock market just shit the bed, will see how that goes since they've been getting US gold and silver left and right. Their stock exchange is rife with corruption and insider trading.

Greece has fallen. Venezuela is boned. And Russia..

Offshore drilling for copper and gold is in the works while people are saying it's pointless and worth vaulting? Then why are people seeking to mine gold from the deep sea?

Two huge silver mines were recently purchased here in MN. Heard about it briefly on the radio a few times and no one's talking about it. They haven't even pulled anything from it yet. If silver is so useless and worthless, why would people sit on millions upon millions tons of it? The answers are either cost/benefit or a huge investment when it's worth pulling again.

We will see.


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InvisibleKauaiOrca
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Re: Bottom Finally In For Silver? [Re: Adden]
    #21914874 - 07/08/15 12:43 PM (8 years, 7 months ago)

I just pulled up a 5 year trading chart on both gold and silver and the technicals on that chart look about as bad as it can get.  It is bumping up against a low and looks like it wants to go a lot lower.  Could still  lose at least 25% of its value until some bigger buyers are motivated to jump in which might take a long time. 

Metals are going lower at least on the short term through the end of this year.  We may even get another round of panic selling to real give it a steep leg down.


--------------------
"The universe is endless, limitless and infinite.  Any effort to define it's boundaries is an attempt to overcome ignorance.  We are physical, mental and spiritual beings ... there is no beginning and there is no end.  There is only memory.  Our repeated loss of memory experiences create the illusion of beginnings and ends.  Immortality is the ability to retain full memory through all consciousness transformations.  Loss of memory is man's greatest curse and, in very real terms, death."

-- Ancient Taoist Master


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