Silver - $27 going to Zero! Call your boss..beg for job back

This forum is for discussing hunting and collecting US and Canadian circulation Silver Bullion Coins, other types of minted bullion, and other types of precious and base metal investments other than Bullion Pennies and Nickels.

Please Note: These articles are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.

Re: Silver - Over $14 once again

Postby InfleXion » Sun Mar 29, 2020 8:24 pm

theo wrote:Given the current crisis, I believe we are all a bit on edge. I know I am.

It's easy to forgive anyone for being snippy these days. I hope we can all agree on that. We're in this together.
Silver: the Rodney Dangerfield of precious metals.

If it's printed on a piece of paper it's worth the paper it's printed on.
If it's a digital asset it's worth the electrons in cyberspace.
User avatar
InfleXion
Penny Hoarding Member
 
Posts: 575
Joined: Wed Jun 20, 2012 12:32 am
Location: Puget Sound

Re: Silver - Sub $13

Postby 68Camaro » Mon Mar 30, 2020 11:43 am

68Camaro wrote:Punched in for 500 oz at 13.93 shipped. That's a $2 premium over spot for Ahasi generic 1 oz bars from JMB. There wasn't much selection left and the gov coin essentially started at $16 or higher. I watched it go down to 13.88 and then start back up so I punched the button. If spot does eventually circle back and continue down, I don't think there will be any physical left at less than months away in 100 oz bars or higher.

I thought I had all the silver I needed - and I do - but this is the lowest price I've paid for new silver in quite some time. I would have to check records to see when the last buy was cheaper. Maybe never (since I didn't get into volume silver until 2010).


Rec'd the 500 oz today from JMB, 2 weeks after order, including order processing and shipping time. Given the workload they had with the rush of new orders (which had already started the week before the mini crash) I can't really expect much better. Well done JMB.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
User avatar
68Camaro
Too Busy Posting to Hoard Anything Else
 
Posts: 8343
Joined: Thu Dec 30, 2010 6:12 am
Location: Disney World

Re: Silver - Sub $13

Postby InfleXion » Mon Mar 30, 2020 5:22 pm

Thank you for the update Camaro. It's good to see that some things are still reliable these days.
Silver: the Rodney Dangerfield of precious metals.

If it's printed on a piece of paper it's worth the paper it's printed on.
If it's a digital asset it's worth the electrons in cyberspace.
User avatar
InfleXion
Penny Hoarding Member
 
Posts: 575
Joined: Wed Jun 20, 2012 12:32 am
Location: Puget Sound

Re: Silver - Sub $13

Postby pennypicker » Mon Mar 30, 2020 10:28 pm

InfleXion wrote:Thank you for the update Camaro. It's good to see that some things are still reliable these days.

I've mentioned it a few times on this board, JMB is the only company I buy from!
"If I had to pick one player to take the last shot to win the game I would pick Michael Jordan...if I had to pick one player to take the last shot to save my life I would pick Larry Bird"--PAT RILEY, L.A. Lakers Head Coach

"I'd rather play against Michael Jordan than Larry Bird...Jordan made you look bad but Bird made you look stupid!"--JAMES WORTHLY, Laker Hall-of-Famer
User avatar
pennypicker
1000+ Penny Miser Member
 
Posts: 1274
Joined: Sat Nov 27, 2010 11:34 pm
Location: Victorville, CA 92395

Re: Silver - Heading for orbit pushing to $20

Postby Rodebaugh » Mon Jul 20, 2020 7:04 am

It has been a while since we have seen $20.

Looks like it could be coming. Hold tight folks and enjoy the ride.
This space for rent. :)
User avatar
Rodebaugh
Realcent Moderator
 
Posts: 7959
Joined: Fri Aug 14, 2009 3:00 pm

Re: Silver - Heading for orbit pushing to $20

Postby neilgin1 » Mon Jul 20, 2020 7:13 pm

Rodebaugh wrote:It has been a while since we have seen $20.

Looks like it could be coming. Hold tight folks and enjoy the ride.


i would enjoy the ride Doc, but there is going to be a lot of bloodshed in this country, a lot of people going to die.
User avatar
neilgin1
Post Hoarder
 
Posts: 2565
Joined: Tue Nov 09, 2010 8:59 am

Re: Silver - Heading for orbit pushing to $20

Postby JJM » Mon Jul 20, 2020 10:37 pm

Just blew through $20! :thumbup: In before its beaten back down... :thumbdown:
JJM
Penny Collector Member
 
Posts: 357
Joined: Sun Feb 14, 2010 3:00 pm

Re: Silver - $20, Welcome back old friend

Postby Recyclersteve » Tue Jul 21, 2020 7:13 am

Let me add a few thoughts and resistance levels to the mix. No doubt, the big round number of $20 is a psychological barrier. For numerologists it is interesting that it would hit $20 in the year 2020.

Now here are some resistance levels (I'm getting my data from the historical silver charts on kitco.com). Also, my data is based on spot silver, not silver futures.

$20.71 (resistance from 8/2/16)
$22.05 (resistance from 2/24/14)
$32.01 (resistance from 2/5/13)
$37.23 (resistance from 2/29/12)
$50+ (resistance from January, 1980)

A note about resistance levels. Don't turn cartwheels if silver breaks through by a penny. It needs to break above the resistance level and close there for at least a few days before I start counting those chickens. Also, it could break above resistance, pull back, say, 10% or so after a big run, and turn around and go much higher shortly thereafter.

Another thing- the most important number above (other than the $50+ of course) is the resistance at $22.05. If we go through that, there could be fairly smooth sailing for a roughly $10 move upward.

Also, it is noteworthy that silver was in the high teens almost exactly 10 years ago. Then, in August it broke out and in 7 months it traded in extended hours at about $49.80-$49.90ish per ounce. I remember being so confident that the August, 2010 breakout was legit that I quickly went out and bought a bag of 1,000 pre-1921 Morgan dollars. Actually, I had to go to a number of dealers because no one source had enough for me at the time. FYI- August, 2010 was the last time I was as bullish as I am right now!

We also have July/August seasonality working for us as well. Silver is acting well now as it was 4 years ago and again 10 years ago (at the beginning of that huge breakout).

Dare I add one more thing?!? If silver can break above, say, $51ish, it will likely go to at least $75-100 (and perhaps much more). Keep in mind that if you take the $50 silver we had in 1980 and adjust it for inflation, we would be way over $100 an ounce right now. I think the actual figure would be something like $130+.

Good luck to all. And please don't do something ill advised like emptying a retirement account to buy silver. Nobody but nobody knows for sure what the future holds. How many predicted COVID-19 in advance?
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4554
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Silver - $20, Welcome back old friend

Postby TXSTARFIRE » Tue Jul 21, 2020 7:31 am

Now $20.97.
TXSTARFIRE
1000+ Penny Miser Member
 
Posts: 1350
Joined: Fri Jul 29, 2011 12:39 pm
Location: Minnesota

Re: Silver - $20, Welcome back old friend

Postby Recyclersteve » Tue Jul 21, 2020 7:50 am

Now above $21.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4554
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Silver - $20, Welcome back old friend

Postby Rodebaugh » Tue Jul 21, 2020 8:00 am

I've heard this song before circa July 2010. BUY EVERYTHING YOU CAN NOW!
This space for rent. :)
User avatar
Rodebaugh
Realcent Moderator
 
Posts: 7959
Joined: Fri Aug 14, 2009 3:00 pm

Re: Silver - $20, Welcome back old friend

Postby 68Camaro » Tue Jul 21, 2020 8:27 pm

22 going on 23. Shades of 2010-11. Why now? I only have bits of answer - nothing yet that points to what set this off specifically now.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
User avatar
68Camaro
Too Busy Posting to Hoard Anything Else
 
Posts: 8343
Joined: Thu Dec 30, 2010 6:12 am
Location: Disney World

Re: Silver - $20, Welcome back old friend

Postby Thogey » Tue Jul 21, 2020 9:10 pm

The sudden trillions of dollars that appeared spooked everyone.
If I have the gift of prophesy, and know all mysteries and all knowledge, and if I have all faith, so as to move mountains but do not have love I am nothing. And if I give all my possessions to feed the poor, and if I surrender my body to be burned but do not have love it profits me nothing.
User avatar
Thogey
Too Busy Posting to Hoard Anything Else
 
Posts: 8505
Joined: Sun Dec 06, 2009 3:00 pm

Re: Silver - $20, Welcome back old friend

Postby Thogey » Tue Jul 21, 2020 9:11 pm

ASEs on e-bay are all pushing or exceeding $30 with shipping. as of this morning.
If I have the gift of prophesy, and know all mysteries and all knowledge, and if I have all faith, so as to move mountains but do not have love I am nothing. And if I give all my possessions to feed the poor, and if I surrender my body to be burned but do not have love it profits me nothing.
User avatar
Thogey
Too Busy Posting to Hoard Anything Else
 
Posts: 8505
Joined: Sun Dec 06, 2009 3:00 pm

Re: Silver - $20, Welcome back old friend

Postby Rodebaugh » Tue Jul 21, 2020 9:33 pm

Thogey wrote:The sudden trillions of dollars that appeared spooked everyone.


This........Repricing
This space for rent. :)
User avatar
Rodebaugh
Realcent Moderator
 
Posts: 7959
Joined: Fri Aug 14, 2009 3:00 pm

Re: Silver - $20, Welcome back old friend

Postby pennypicker » Wed Jul 22, 2020 9:40 am

Recyclersteve wrote:
$20.71 (resistance from 8/2/16)
$22.05 (resistance from 2/24/14)
$32.01 (resistance from 2/5/13)
$37.23 (resistance from 2/29/12)
$50+ (resistance from January, 1980)

Another thing- the most important number above (other than the $50+ of course) is the resistance at $22.05. If we go through that, there could be fairly smooth sailing for a roughly $10 move upward.


Well we've push through that key $22.05 resistance level and I'm now curious to see what happens from here...hopefully smooth sailing to $30 :thumbup:
"If I had to pick one player to take the last shot to win the game I would pick Michael Jordan...if I had to pick one player to take the last shot to save my life I would pick Larry Bird"--PAT RILEY, L.A. Lakers Head Coach

"I'd rather play against Michael Jordan than Larry Bird...Jordan made you look bad but Bird made you look stupid!"--JAMES WORTHLY, Laker Hall-of-Famer
User avatar
pennypicker
1000+ Penny Miser Member
 
Posts: 1274
Joined: Sat Nov 27, 2010 11:34 pm
Location: Victorville, CA 92395

Re: Silver - $20, Welcome back old friend

Postby theo » Wed Jul 22, 2020 1:12 pm

I've heard that a higher number of traders on Robinhood are showing interest in precious metals, particularly silver. I also believe that the COMEX and the ETFs have been buying physical for the last month or so. We'll see if AG can hold above $22.00 or if it gets smashed down again. I know a few of you had the wisdom to buy physical AG back in March at less that $12.00.
theo
1000+ Penny Miser Member
 
Posts: 1742
Joined: Sat Jan 31, 2009 10:00 am
Location: Western Pa

Re: Silver - $20, Welcome back old friend

Postby highroller4321 » Wed Jul 22, 2020 1:40 pm

pennypicker wrote:
Recyclersteve wrote:
$20.71 (resistance from 8/2/16)
$22.05 (resistance from 2/24/14)
$32.01 (resistance from 2/5/13)
$37.23 (resistance from 2/29/12)
$50+ (resistance from January, 1980)

Another thing- the most important number above (other than the $50+ of course) is the resistance at $22.05. If we go through that, there could be fairly smooth sailing for a roughly $10 move upward.


Well we've push through that key $22.05 resistance level and I'm now curious to see what happens from here...hopefully smooth sailing to $30 :thumbup:



We need to be able to close above that resistance level for at least a few days.
highroller4321
Realcent Moderator
 
Posts: 7214
Joined: Sat Oct 25, 2008 10:00 am
Location: Portland,Oregon

Re: Silver - $20, Welcome back old friend

Postby Cu Penny Hoarder » Wed Jul 22, 2020 7:24 pm

I told you guys to buy at $12-13. How many did? It was only a matter of time.

And Thogey made fun of me for posting my buy recommendations here. Now eat your liver. 8-)
Time is precious, stop wasting it.
Cu Penny Hoarder
Post Hoarder
 
Posts: 2320
Joined: Tue Sep 06, 2011 8:44 pm

Re: Silver - $20, Welcome back old friend

Postby Cu Penny Hoarder » Wed Jul 22, 2020 7:32 pm

theo wrote:I've heard that a higher number of traders on Robinhood are showing interest in precious metals, particularly silver. I also believe that the COMEX and the ETFs have been buying physical for the last month or so. We'll see if AG can hold above $22.00 or if it gets smashed down again. I know a few of you had the wisdom to buy physical AG back in March at less that $12.00.


Most Robinhood traders will go broke.

Eric Sprott recently purchased a whole bunch of physical silver. I think that helped push it up.
Time is precious, stop wasting it.
Cu Penny Hoarder
Post Hoarder
 
Posts: 2320
Joined: Tue Sep 06, 2011 8:44 pm

Re: Silver - $20, Welcome back old friend

Postby Recyclersteve » Wed Jul 22, 2020 8:04 pm

theo wrote:I've heard that a higher number of traders on Robinhood are showing interest in precious metals, particularly silver. I also believe that the COMEX and the ETFs have been buying physical for the last month or so. We'll see if AG can hold above $22.00 or if it gets smashed down again. I know a few of you had the wisdom to buy physical AG back in March at less that $12.00.


Silver premiums were very high in March, even when the physical price mentioned on Kitco and elsewhere was low. Although I was frustrated (because of the high premiums) I did end up pivoting and buying the silver ETF (SLV). It was a nice trade, but if I had just held on it would have been a VERY nice trade. No complaints.
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4554
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Silver - $20, Welcome back old friend

Postby Recyclersteve » Wed Jul 22, 2020 8:06 pm

highroller4321 wrote:
pennypicker wrote:
Recyclersteve wrote:
$20.71 (resistance from 8/2/16)
$22.05 (resistance from 2/24/14)
$32.01 (resistance from 2/5/13)
$37.23 (resistance from 2/29/12)
$50+ (resistance from January, 1980)

Another thing- the most important number above (other than the $50+ of course) is the resistance at $22.05. If we go through that, there could be fairly smooth sailing for a roughly $10 move upward.


Well we've push through that key $22.05 resistance level and I'm now curious to see what happens from here...hopefully smooth sailing to $30 :thumbup:



We need to be able to close above that resistance level for at least a few days.


I totally agree!!!!
Former stock broker w/ ~20 yrs. at one company. Spoke with 100k+ people and traded a lot (long, short, options, margin, extended hours, etc.).

NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
substantial. If not prepared to buy it multiple times in modest amounts without going overboard (assuming nothing really wrong with the company), you need to learn more about the market and managing risk. Also, please research covered calls (options) and selling short as well.
Recyclersteve
Too Busy Posting to Hoard Anything Else
 
Posts: 4554
Joined: Sun Jan 20, 2013 5:59 am
Location: Where I Want To Be

Re: Silver - $20, Welcome back old friend

Postby aristobolus » Wed Jul 22, 2020 8:14 pm

Hello everyone! I have not been on here for years being busy raising kids turned into teens. Now my boys are turning to men. We just held a high school graduation party for one of them. And what did someone gift him with? A silver round to teach him the lesson of real money. He told him to "either turn it in for twenty bucks, or watch it grow"; it has already grown by three dollars since then.
User avatar
aristobolus
Penny Collector Member
 
Posts: 435
Joined: Thu Mar 04, 2010 10:00 am

Re: Silver - $20, Welcome back old friend

Postby shinnosuke » Wed Jul 22, 2020 8:21 pm

aristobolus wrote:Hello everyone! I have not been on here for years being busy raising kids turned into teens. Now my boys are turning to men. We just held a high school graduation party for one of them. And what did someone gift him with? A silver round to teach him the lesson of real money. He told him to "either turn it in for twenty bucks, or watch it grow"; it has already grown by three dollars since then.


Sounds like the sons are growing up right. Good job.
When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them... (Thomas Jefferson)
User avatar
shinnosuke
Super Post Hoarder
 
Posts: 3600
Joined: Mon Feb 14, 2011 7:10 pm
Location: Texas

Re: Silver - $20, Welcome back old friend

Postby NDFarmer » Thu Jul 23, 2020 6:27 am

Recyclersteve wrote:Silver premiums were very high in March, even when the physical price mentioned on Kitco and elsewhere was low.


Yes Silver was down around $12.00 but the premiums were even higher than they are now. I still bought silver for $16.00 to $17.00 when the price was $12.00 But I would have bought MUCH MORE if I could have bought it at $12.00

Is this premium of $3.00 to $5.00 per ounce always going to be here like it is now. Even now with the price being $22.00 you still have to pay $25.00 to buy silver.
Copper - the "poorman's" precious metal !!
User avatar
NDFarmer
Super Post Hoarder
 
Posts: 3893
Joined: Mon Jan 07, 2008 3:00 pm

PreviousNext

Return to Silver Bullion, Gold, & other Bullion Metals

Who is online

Users browsing this forum: No registered users and 6 guests