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So Silver is over $24/oz....

Discussion in 'Survival/Preparedness Forum' started by emt1581, Oct 13, 2010.

  1. I haven't been able to get anything for less than $32 (eagles) for a couple days now......was able to buy at $24 or so only days ago.
     


  2. b18turboef

    b18turboef

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    Nov 3, 2006
    Reno, NV
    I started late.... Got mine a week ago, total cost including wire transfer, and shipping, and paying the $3 premium per eagle I paid $27.42 delivered. I've already made back the $25 shipping, $25 bank wire, and $3 per coin premium, and made $.50 each lol...
     
  3. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    But from person to person (nucleo) I'm wondering how that would work. Ebay is known for having ridiculously inflated premiums. $5+ isn't uncommon.

    Now going a step further, when it's time to use the silver to purchase goods/services, I'm wondering if silver will be silver or if people will fuss over the eagles??

    -Emt1581
     
  4. b18turboef

    b18turboef

    173
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    Nov 3, 2006
    Reno, NV
    I chose eagles (and paid more vs regular rounds) for one reason.... Easy recognition, nobody is going to argue that they are real... Do they command a premium, yes, but thats not my intention.
     
  5. I'm paying a little more for the Eagles in assumption that they will be more trusted....too many "art bars" out there with nothing but a shiny coat of silver / gold. Hell, I wouldn't even know if I was buying the real thing initially.
     
  6. b18turboef

    b18turboef

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    Nov 3, 2006
    Reno, NV
    exactly
     
  7. emt1581

    emt1581 Curious Member

    19,885
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    Oct 17, 2002
    Penn's Woods
    This is why I weigh EVERY round when buying from someone and I do all deals in person. That is, when I was buying that's what I did.

    I have a feeling this is how it will be done in the future to avoid what you're talking about.

    I'm also guessing one or both parties will be armed and God help someone trying to cheat on either side!

    -Emt1581
     
  8. b18turboef

    b18turboef

    173
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    Nov 3, 2006
    Reno, NV
    just so i dont go accusing someone.... is there any way someone could cheat to make a round 1oz without being silver? i dont know if there are metals that could be inserted etc... and does a 1oz round really weigh exactly 1oz, or are we talking in 2x4 wood terms lol
     
  9. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    Nope impossible.

    I mean you could manipulate the weight but then the size wouldn't match up. No other element would match silver in the mass/weight dept.

    -Emt1581
     
  10. racerford

    racerford

    4,729
    316
    Apr 22, 2003
    DFW area
    Wow, we are almost to the 60% of the recent (last 50 years) historical high of silver un-adjusted for inflation. Can someone call the timing and value of the top of the market? What is the round trip transaction cost for say 30 physical Troy Oz of Silver so I can understand what it will take for me to recover my investment?

    I also need someone who can call the next bottom for the market value and timing.

    I will remind everyone until you have made the round trip on your investment, it is all paper gains, and you don't know how good you investment was, especially adjusted for inflation.
     
  11. cowboy1964

    cowboy1964

    19,993
    2,305
    Sep 4, 2009
    U.S.A.
    The problem with the $54 historical high for silver was it was a phony high, caused by the Hunt brothers trying to corner the market. At one point they had half the world's deliverable supply. Later the price crashed 50% in one day.

    I don't view precious metals as an investment (though they are a good one right now). I view them as insurance. I buy/sell all mine through EBay. When buying you're not going to find a local dealer that will be cheaper. When selling you'll pay 9% commission to EBay. That's about the best you'll be able to do.
     
    Last edited: Nov 9, 2010
  12. We just passed the $28 mark at $28.11 according to Kitco.
     
  13. cowboy1964

    cowboy1964

    19,993
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    Sep 4, 2009
    U.S.A.
    Yep it's unreal. I'm kicking myself for not buying more over the last year. I started buying a little over a year ago when silver was around $16. I got nervous when it starting getting up to $18, $19, etc. Now we're closing in on $30. Unreal.
     
  14. racerford

    racerford

    4,729
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    Apr 22, 2003
    DFW area
    The problem is, how do we know that the same situation is not in play today? There have been several reports recently of attempts or successes in manipulating PM prices in the market.

    Back in the day, it was the Hunt Brothers that manipulated the market. Who is to say it is not Soros or some other wealthy person, family, or saavy investment firm jacking with the market. In some ways it is easier, and in some ways it could be harder. I know that where there is a will there is a way. These people do not care about the damage they do to others. They do not care if they damage the economies of whole countries or of the world, as long as their personal economy is better off. In some cases the damage they do is part of what they are trying to achieve, in addition to making themselves more money.
     
  15. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    But those manipulations were false ownerships AFAIK. In other words, they said they had a ton of PM's and really had nowhere close to those figures. Much different than some entity actually buying up all of the PM's (Silver) as the Hunt brothers did.

    They started printing a massive amount of bills last week AFAIK and what we're seeing seems to be the devaluing of our currency because of it. Remember, PM's stay at a constant. They will always buy the same amount of goods. It's the world's currencies that move up or down around the PM's.

    -Emt1581
     
  16. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    I haven't seen a reply from you so I'll assume you either admit you either missed it.

    But at this point, do you STILL think the price of silver going through the roof is a good thing?

    -Emt1581
     
  17. VBG23

    VBG23

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    Mar 24, 2006
    As of 0742 silver is at $28.42

    It rose over $1 yesterday and $.50 over night. Parabolic yet?

    Are YOU prepared?
     
  18. emt1581

    emt1581 Curious Member

    19,885
    2
    Oct 17, 2002
    Penn's Woods
    I wonder how long it'll be before it hit's store shelves. How long until a candy bar is $4-$5?

    -Emt1581
     
  19. doneroman

    doneroman SheepDogs-R-Us

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    Apr 17, 2009
    The Infidel lair
    It won't be long. Anyone remember the roller coaster nightmares of '80-'82? Silver and gold are kings, and any other commodities needed to survive.

    $5 a gallon fuel by March? Food prices will sky rocket and suddenly the masses will be interested in gardening again. Hunting. Fishing. Leather work.

    Great thread and interesting points all around.