Silver starting to tank again

Braves_Fan · 06-20-2013, 08:04 AM

Silver is at $20.01 and OZ as of right now. Six months ago it was at $34 OZ.
Wonder how low it will get this time?

bradjames12 · 06-20-2013, 09:36 AM

If you believe some people, it is going down to the $15-17 range.
On 6/18 a roll of 20 $1 Eagles from Scottsdale was $521.44, today it is at $487.14

Braves_Fan · 06-20-2013, 10:02 AM

I heard the same thing from coin guys recently who have been buying silver for over 20 years. It's going to go down some before it goes way up. It's getting close to the time if not already for some to
"Back Up The Trucks!"

Incarnadine · 06-20-2013, 10:27 AM

All the precious metals are getting hammered, down 10% or more in 3 days, palladium is actually down nearly 15% (was $764, now $662).
I held off buying yesterday, but I think today is a good day for a couple more 10 oz. silver bars. Not a huge buy, but I'll save a little for another buy if it drops more next week.

nabzy28 · 06-20-2013, 10:27 AM

It was due for a correction but, don't be too far distracted by the pricing volatility of gold/silver. Right now, this devaluation is nearly 100% due to the dumping of ETF contracts on metals into the markets. Registered gold at the COMEX is near an all time low. Central banks are buying gold for the first time in history. Banks have switched from a seemingly never ending short of the metals markets to being long for the first time. They know what's up. They just need to keep people far away from the metals while they hoard up all the physical they can, sticking uneducated investors with the paper ETF products. Keep calm and carry on.

Cactuspies · 06-20-2013, 10:51 AM

Quote:

Originally Posted by nabzy28

It was due for a correction but, don't be too far distracted by the pricing volatility of gold/silver. Right now, this devaluation is nearly 100% due to the dumping of ETF contracts on metals into the markets. Registered gold at the COMEX is near an all time low. Central banks are buying gold for the first time in history. Banks have switched from a seemingly never ending short of the metals markets to being long for the first time. They know what's up. They just need to keep people far away from the metals while they hoard up all the physical they can, sticking uneducated investors with the paper ETF products. Keep calm and carry on.

not sure if I could have summed it up much better than this. I know there are much more educated people out there than me on the subject, but knowing full well that there are way more paper eft contracts than actual physical metal being stored by these holders can't be good when everyone wants to sell their "share" or take delivery of their "share" of a bar.

I purchased way high on some of my metal but holding off for the last few months might have paid off.

thor_rider08 · 08-06-2013, 03:20 AM

Quote:

Originally Posted by Cactuspies

not sure if I could have summed it up much better than this. I know there are much more educated people out there than me on the subject, but knowing full well that there are way more paper eft contracts than actual physical metal being stored by these holders can't be good when everyone wants to sell their "share" or take delivery of their "share" of a bar.

I purchased way high on some of my metal but holding off for the last few months might have paid off.

Agree with both of you..
I PRAY it hits 15$ an oz bc I would take a loan on my propert for 300k and buy 20k oz..

Srt42004n · 06-20-2013, 12:55 PM

Quote:

Originally Posted by Braves_Fan

Silver is at $20.01 and OZ as of right now. Six months ago it was at $34 OZ.
Wonder how low it will get this time?

I like $16.50 an oz... don't want to wait to long bc all it takes is one spike and its up up and away...

nabzy28 · 06-20-2013, 03:51 PM

Quote:

Originally Posted by Srt42004n

I like $16.50 an oz... don't want to wait to long bc all it takes is one spike and its up up and away...

It is fast approaching a range where the upside potential FAR outweighs the downside risk. Reluctantly, I held off on buying so far today. Need to see what happens in the London exchange overnight and see if the sell off continues. It is heading into Friday which, lately, has been the manufactured beat-down of metals quite consistently....

Bryanjs14 · 06-20-2013, 04:09 PM

where do you guys buy your metals at?

HBMC · 06-30-2013, 11:16 AM

Quote:

Originally Posted by Bryanjs14

where do you guys buy your metals at?

Local, face to face and with cash.

Wickedroller · 07-23-2013, 07:53 PM

Quote:

Originally Posted by Bryanjs14

where do you guys buy your metals at?

APMEX, Silvertowne, Provident, Monarch, Gainesville.

abcd1234 · 07-23-2013, 07:03 PM

How much does silver factor in when you consider a collectible numismatic coin? Does the coin always go down in value like bullion? Or are there other factors that determine it's price?

HBMC · 07-23-2013, 11:24 PM

Quote:

Originally Posted by abcd1234

How much does silver factor in when you consider a collectible numismatic coin? Does the coin always go down in value like bullion? Or are there other factors that determine it's price?

Scarcity of condition is the biggest factor with Numis. Most bullion material Numis stay above melt unless they're dirt common or in terrible condition.

There are several coins in the US Mint Catalogue that are minute amounts of gold/silver, but are worth hundreds of thousands of dollars due to rarity.

JJ53 · 07-24-2013, 04:13 PM

Still waiting for it to fall into the $17.00 range. I don't expect it to ever reach the $40.00 range anytime soon. I think once it starts a upwards trend it will settle in the 20-25 range.

Incarnadine · 07-31-2013, 02:13 PM

Some real volatility today.

It opened at $19.75 and promptly dropped to $19.40 then suddenly turned on a dime and shot up to $20.06. Seems to be hovering near $20 now.
Much more fun to watch an active market than one where it goes up or down a bit within a tight range.

JJ53 · 07-31-2013, 05:01 PM

Silver $19. 81 and world market opens in 5 minutes. Still in a Downward trend. The activity is the stop buying and selling. Personally i see no need to buy in this price range although i am tempted.

Incarnadine · 08-11-2013, 06:31 PM

After a big rally on Friday Silver is still going up in early trading today, even topping $21 at one point for the first time in what seems like ages.

smackvay · 08-11-2013, 10:14 PM

Quote:

Originally Posted by Incarnadine

After a big rally on Friday Silver is still going up in early trading today, even topping $21 at one point for the first time in what seems like ages.

Lol just sold a nice lot on ebay of all places for a ridiculous price

nabzy28 · 08-12-2013, 08:05 AM

Quote:

Originally Posted by smackvay

Lol just sold a nice lot on ebay of all places for a ridiculous price

feebay is great for premiums. I got reamed on another site for posting, what I feel to be, the reasoning for it.... people just want instant gratification. The different mindset type of person buying a tube of SAE's there is different from the seasoned metals buyer. For whatever reason, this is totally beyond comprehension to the original poster that was looking for reasoning on another site. Anyway, all I'm saying is that you have people who want an item now, and are willing to pay the premium to get it. Nearly everything on feebay is shipped within 72 hours of payment, or perhaps 3 business days. Great. Super. This works well for people who don't know about the 20 websites that have metals for less. They don't want anything to do with sending paper checks and waiting 10 business days after receipt of said check for shipping.

The proof is right in front of people. Just look at how many of those metals products sell on the Daily Deals page. There is a TON of market information and purchasing habits on display for anyone who wants to take the time to review it. People are quite willing to pay well over spot from trusted sources.

I think it's a great thing that eBay is doing, working with places like MCM, Apmex and others to get metals in front of a lot of people. It can only help in the long run by making even more people aware.

JJ53 · 08-11-2013, 10:25 PM

For some reason the buyers on Ebay pay high premiums for common bullion. Silver is still in a downward trend. I might order the reverse proof buffalo gold from the mint. For me if i buy bullion its gold not silver. 1600 a coin for the buffalo.

IronMonkey415 · 08-11-2013, 10:27 PM

It's up again..... $21.03

GoJays · 08-11-2013, 10:35 PM

This rise is good news, although I have a feeling we'll see it below $19.50 by the end of the week.

I hope so, anyways. I'm going to be purchasing this Friday.

Cactuspies · 08-12-2013, 09:48 AM

I sold all my $20/$20 2012 Polar Bears last month. I had 10 and they didn't last very long. I'm just keeping the good stuff right now and holding off on buying more until it shows a decent fall again. people on ebay are still paying far over spot

Incarnadine · 08-18-2013, 08:59 PM

Damn it, Silver needs to stop going up so damn fast. I need it to go down, or at least trade sideways for a few weeks until I can afford at least 1 last significant buy.

Market opened at $23.22, already hit $23.60 in early trading.

06-20-2013, 08:04 AM	#1
Braves_Fan Member Join Date: Jan 2013 Posts: 1,625	Silver starting to tank again Silver is at $20.01 and OZ as of right now. Six months ago it was at $34 OZ. Wonder how low it will get this time?

06-20-2013, 10:27 AM	#5
nabzy28 Member Join Date: Aug 2007 Location: In a warehouse of common sense Posts: 6,948 nabzy28	It was due for a correction but, don't be too far distracted by the pricing volatility of gold/silver. Right now, this devaluation is nearly 100% due to the dumping of ETF contracts on metals into the markets. Registered gold at the COMEX is near an all time low. Central banks are buying gold for the first time in history. Banks have switched from a seemingly never ending short of the metals markets to being long for the first time. They know what's up. They just need to keep people far away from the metals while they hoard up all the physical they can, sticking uneducated investors with the paper ETF products. Keep calm and carry on. __________________ Sent from my Danger Hiptop T-Mobile Sidekick in 2002

08-11-2013, 10:35 PM	#23
GoJays Member Join Date: Feb 2011 Location: Ottawa, Ontario, Canada Posts: 7,315	This rise is good news, although I have a feeling we'll see it below $19.50 by the end of the week. I hope so, anyways. I'm going to be purchasing this Friday. __________________ I will leave my signature the same until the Toronto Maple Leafs win the Stanley Cup. In short, I will never change my signature.

08-12-2013, 09:48 AM	#24
Cactuspies Member Join Date: Feb 2009 Location: meepos Posts: 9,681 azcentral_sports	I sold all my $20/$20 2012 Polar Bears last month. I had 10 and they didn't last very long. I'm just keeping the good stuff right now and holding off on buying more until it shows a decent fall again. people on ebay are still paying far over spot __________________ SUPPORT #BostonStrong The One Fund & Parkinson's Research http://sportlots.com/dealers/?dealer=AzPats10 RIP Mom-2009, Dad-2021, Grandma-2018, PAPAJIM 11/22/10 Patriots 6 time Champs catching up to johnmabry47: are you on my ignore list too? 76 and counting

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06-20-2013, 09:36 AM	#2
bradjames12 Member Join Date: Sep 2009 Location: Zionsville Posts: 1,100 bjbena2006	If you believe some people, it is going down to the $15-17 range. On 6/18 a roll of 20 $1 Eagles from Scottsdale was $521.44, today it is at $487.14

06-20-2013, 10:02 AM	#3
Braves_Fan Member Join Date: Jan 2013 Posts: 1,625	I heard the same thing from coin guys recently who have been buying silver for over 20 years. It's going to go down some before it goes way up. It's getting close to the time if not already for some to "Back Up The Trucks!"

06-20-2013, 10:27 AM	#4
Incarnadine Member Join Date: Dec 2007 Posts: 915	All the precious metals are getting hammered, down 10% or more in 3 days, palladium is actually down nearly 15% (was $764, now $662). I held off buying yesterday, but I think today is a good day for a couple more 10 oz. silver bars. Not a huge buy, but I'll save a little for another buy if it drops more next week.

06-20-2013, 04:09 PM	#10
Bryanjs14 Banned Join Date: Mar 2009 Location: Florida Posts: 6,688 Pop-nyc Bryanjs14	where do you guys buy your metals at?

07-23-2013, 07:03 PM	#13
abcd1234 Member Join Date: May 2011 Location: The South Posts: 723	How much does silver factor in when you consider a collectible numismatic coin? Does the coin always go down in value like bullion? Or are there other factors that determine it's price?

07-24-2013, 04:13 PM	#15
JJ53 Member Join Date: Apr 2013 Location: MD Posts: 2,408	Still waiting for it to fall into the $17.00 range. I don't expect it to ever reach the $40.00 range anytime soon. I think once it starts a upwards trend it will settle in the 20-25 range.

07-31-2013, 02:13 PM	#16
Incarnadine Member Join Date: Dec 2007 Posts: 915	Some real volatility today. It opened at $19.75 and promptly dropped to $19.40 then suddenly turned on a dime and shot up to $20.06. Seems to be hovering near $20 now. Much more fun to watch an active market than one where it goes up or down a bit within a tight range.

07-31-2013, 05:01 PM	#17
JJ53 Member Join Date: Apr 2013 Location: MD Posts: 2,408	Silver $19. 81 and world market opens in 5 minutes. Still in a Downward trend. The activity is the stop buying and selling. Personally i see no need to buy in this price range although i am tempted.

08-11-2013, 06:31 PM	#18
Incarnadine Member Join Date: Dec 2007 Posts: 915	After a big rally on Friday Silver is still going up in early trading today, even topping $21 at one point for the first time in what seems like ages.

08-11-2013, 10:25 PM	#21
JJ53 Member Join Date: Apr 2013 Location: MD Posts: 2,408	For some reason the buyers on Ebay pay high premiums for common bullion. Silver is still in a downward trend. I might order the reverse proof buffalo gold from the mint. For me if i buy bullion its gold not silver. 1600 a coin for the buffalo.

08-11-2013, 10:27 PM	#22
IronMonkey415 Banned Join Date: Nov 2008 Posts: 44,120 ironmonkeyfromsf	It's up again..... $21.03

08-18-2013, 08:59 PM	#25
Incarnadine Member Join Date: Dec 2007 Posts: 915	Damn it, Silver needs to stop going up so damn fast. I need it to go down, or at least trade sideways for a few weeks until I can afford at least 1 last significant buy. Market opened at $23.22, already hit $23.60 in early trading.