First $19, then $21

[neilgin1]

I feel SOILED even using that jimmy rigged "Board".....but the way she's setting up, its looks like we clear $19, we go for $21....and i'm talking about looking at the weekly bar charts.....we clear $21 SOLID?.....we'll blow past $50 ...easy.

and imho?.....if you sell $50 Ag, you'll miss out on anywhere from $85 to $200 MORE per toz, but that's just me.

I been buying 25 toz roll after roll of RCM Maples.....all down here, these last months, coz IT FELT RIGHT!

God bless you all and your kin, neil

[68Camaro]

I'm ready for the next run-up. But if it goes back down I'm still buying. I also like the Maples far more than the ASEs at the moment - though some moderate diversity is good and I also buy select rounds and some other sovereign coinage; even still some 40%.

[JadeDragon]

I don't know about $50... But we are very close to a 10 year peak on the gold/silver ratio. https://www.kitco.com/Gold_Silver_Ratio ... harts.html

That either means gold is gonna fall or silver is going to rise soon.

[Thogey]

That either means gold is gonna fall or silver is going to rise soon

Why must gold fall or silver rise ....and soon

[AGgressive Metal]

That either means gold is gonna fall or silver is going to rise soon

Why must gold fall or silver rise ....and soon

He is talking about historically the price ratio between the two metals rarely stays this extreme for extended periods ..... But of course we are in uncharted territory with the way markets work these days and with no country being on gold standard ....

[pennypicker]

The memory of my standing in a long line at Rogue Valley Coin & Jewelry in Medford, Oregon back in 2011 to buy ASE's at $46 out the door still weighs heavily on my mind--so much so that $18 ASE's today doesn't seem so bad. $16.50 a couple months back was surely sweet..maybe even the bottom

[Thogey]

That either means gold is gonna fall or silver is going to rise soon

Why must gold fall or silver rise ....and soon

He is talking about historically the price ratio between the two metals rarely stays this extreme for extended periods ..... But of course we are in uncharted territory with the way markets work these days and with no country being on gold standard ....

I understand that, but why must it remain so?

[AGgressive Metal]

I understand that, but why must it remain so?

Geology eventually catches up with the markets (they come out of ground @ 15:1). Right now central banks hoard thousands of tons of gold but not no silver, so in my opinion that is one of the distortions currently playing on the market.

[henrysmedford]

The memory of my standing in a long line at Rogue Valley Coin & Jewelry in Medford, Oregon back in 2011 to buy ASE's at $46 out the door still weighs heavily on my mind--so much so that $18 ASE's today doesn't seem so bad. $16.50 a couple months back was surely sweet..maybe even the bottom

ASE today there $19.25 small line.
Untitled by Karen, on Flickr

[pennypicker]

The memory of my standing in a long line at Rogue Valley Coin & Jewelry in Medford, Oregon back in 2011 to buy ASE's at $46 out the door still weighs heavily on my mind--so much so that $18 ASE's today doesn't seem so bad. $16.50 a couple months back was surely sweet..maybe even the bottom

ASE today there $19.25 small line.
Untitled by Karen, on Flickr

Boy Henry I sure miss Medford. Used to visit the cool library on hot days, take a break and walk a few blocks to buy some ASE's from John, then return to the library and enjoy looking at the coins. I specifically remember that day when I bought three ASE's at $46 each (spot was $42) and as I was paying I remarked that I felt a bit uncomfortable buying silver at these new highs. He replied, "I think you'll be alright buying a couple here and there but those buying rolls at a time I would be concerned".

Just a few weeks later silver plummeted to $36 and then quickly to $31. At $31 my Irish temper got the best of me and I sold all my silver back to them--I'm glad I did as it was all down hill from there!

Thanks for the picture Henry as it brings back a lot of fond memories of the beautiful Rogue Valley

[Cu Penny Hoarder]

The memory of my standing in a long line at Rogue Valley Coin & Jewelry in Medford, Oregon back in 2011 to buy ASE's at $46 out the door still weighs heavily on my mind--so much so that $18 ASE's today doesn't seem so bad. $16.50 a couple months back was surely sweet..maybe even the bottom

Keep holding and you'll be fine. My LCS guy tells me there were many who bought in the high $40's, but then sold back to him for big losses after PM's got slammed... they needed the money because of financial hardships. I'm curious how many bought in the $40's, but are planning to sell when Ag gets back up near $50?

IMO, the last couple weeks has been a short covering rally and Ag will see the $13 handle again within 1-2 months. I hope I'm wrong though.

[68Camaro]

As noted elsewhere I bought some in the 40s (as many did, but few admit to), but I didn't sell. Regardless of price I suppose if there was a financial emergency I would have no choice but to sell something, but without going into details I've tried to be prudent in all my other dealings so as to prevent that from happening. I've continued to DCA to the point where the pain of those purchases in a falling market has been reduced, and given where the world has been over the past 5 years I did what made sense to me at the time and short of being prescient (which I'm not) I would do those again. My metal is not for sale, unless (short-term) I'm shuffling or re-balancing or focusing on a hobby interest in a specific area, or (long-term) I find an opportunity elsewhere that reduces risk to my family and increases safety or quality of life. Holding dollars - except temporarily as a means to another end - makes no sense to me at this point, so why would I trade hard-gotten PMs for pieces of worthless paper? (That's a rhetorical question, of course.)

[Diggin4copper]

As noted elsewhere I bought some in the 40s (as many did, but few admit to), but I didn't sell. Regardless of price I suppose if there was a financial emergency I would have no choice but to sell something, but without going into details I've tried to be prudent in all my other dealings so as to prevent that from happening. I've continued to DCA to the point where the pain of those purchases in a falling market has been reduced, and given where the world has been over the past 5 years I did what made sense to me at the time and short of being prescient (which I'm not) I would do those again. My metal is not for sale, unless (short-term) I'm shuffling or re-balancing or focusing on a hobby interest in a specific area, or (long-term) I find an opportunity elsewhere that reduces risk to my family and increases safety or quality of life. Holding dollars - except temporarily as a means to another end - makes no sense to me at this point, so why would I trade hard-gotten PMs for pieces of worthless paper? (That's a rhetorical question, of course.)

Plus 1

[johnbrickner]

Neil: Thanx for posting again. I'm a rebellious enough spirit to be a silver whore, and no where near conservative enough to be a pure gold bug. Of course it helped to have started out in the trenches and only have enough "extra" cash for the $5 round.

I understand that, but why must it remain so?

Geology eventually catches up with the markets (they come out of ground @ 15:1). Right now central banks hoard thousands of tons of gold but not no silver, so in my opinion that is one of the distortions currently playing on the market.

One item not considered yet in this conversation is the psychology of the gold investors, or those who will become gold investors. If enough people start feeling the urge (talking heads start professing, or your barber starts giving you the latest tip) we could see challenges to historical G/S ratio at around 100 or perhaps a new historical high.

Distortions? Sure. Manipulations? Perhaps we could call it economic massaging. One could also argue we are in the 2nd depression and if conventional investments stat to tank or if the conditions in the wide world continue to get worse we could see an interesting situation with gold. Be glad we were aware enough to be in the front of the learning curve.

Oh and Rich, well said Sir.

[neilgin1]

My metal is not for sale,.............. so why would I trade hard-gotten PMs for pieces of worthless paper?

I am of the same mind 68.....adamantly SO!

I just keep buying these 25 toz rolls of Silver maples.....and a whole LOT more things, which I will not mention for OPSEC sake, kindred spirits we are, n.

ps...over the last two years, one popular show has made an impact on me, "The Walking Dead", some might laugh, but the "zombies" or "zombie apocalypse" is merely a device, its a metaphor for much larger questions, each of us should discover on our own. that said, I don't "believe" in a LOOMING "zombie apocalypse", or live in some pyscho parallel universe....the world is changing and the question begs..."how far are we willing to go?"

the following scene I will post, let me give you background, the people on their knees are cannibals, who entrapped people with promises of salvation, which is pure evil, and now the main character Rick fulfills a promise he made, when HE was on his knees seconds away from being "harvested". People may think this is all "fantasy", or "Hollywood swill", but the world is changing.....how far are you willing to go, when it does?......don't forget to stack lead, and stay close to God.

[CardsNCoins]

Bringing this back to the top to give Neil a thumbs up for a good call.

[Cu Penny Hoarder]

Bringing this back to the top to give Neil a thumbs up for a good call.

Good call on the $19. $21 next week?... we'll see.

[neilgin1]

Bringing this back to the top to give Neil a thumbs up for a good call.

"Cards" (i'm sorry I cant write to you in your name)
sure appreciate the thumbs up, not to stroke my ego, but as a form of fellowship with guys that see the world in a similar way.

it was kind of neat to go back to March, and read thru the thread. Sorry for the guys who bought in the 40's, got frustrated, or needed cash, paper fiat, and had to sell.

when you wrote "good call", it reminded me of the "old days" on the CME floor, when I was young, running a livestock hedge desk, because when I wrote the OP, I had been buying what for me, were large purchases of .9999 Maples.....i'm glad I did.

to date, since serious stacking in 2008, I haven't sold ONE toz of Ag, its not an investment to flip, its insurance.

Happy Independence Day brothers, neil

[CardsNCoins]

Bringing this back to the top to give Neil a thumbs up for a good call.

"Cards" (i'm sorry I cant write to you in your name)...........

I'm Nick. Happy Independence day to you as well.

[wolvesdad]

I remember when silver finally broke $30-$31. When it broke $27 I bought 80-100oz,
At $26 another 100, and at $24-$25 about 150.

Trying to catch a falling knife was painful!!

Well, I 'felt' a price climb coming and bought here between 16-18. Glad I did. But not sure yet if tmw or tonight it isnt just going to get smacked down!!