Silver starting to move

[68Camaro]

It pulled back by $2 last night, sure enough... to a buck OVER Sunday nights open!

[pmbug]

It pulled back by $2 last night, sure enough... to a buck OVER Sunday nights open!

Looks like it flash crashed $4 before immediately bouncing back up $2. Crazy volatility but also dips/crashes will be bought.

RecyclerSteve - you really ought to read the X post I cited in my last comment. There is a lot happening under the surface with SLV, LBMA free float and the COMEX.

[jrschare]

Plus, I have twins that just started driving and am buying them each a new car. So I might be a good time to unload some silver and gold.

I'll help you get to 10 by asking why you would do that. Gold and silver is forever wealth storage that you could pass on to your twins, while new cars immediately depreciate. If they need cars for their career, at least back off a couple of years and buy them late model used ones. You will save 10s of thousands. I would also make them pay for the insurance and upkeep, if not contributing to the cost.

I am getting them each a Honda Civic. Used ones are at pretty close to the cost of a new one and they are probably about the lowest cost of ownership vehicles out there. I have way overinvested my money. I have a large 401k and Roth IRA along with quite a sizeable amount of crypto assets, so I think that they will be fine. This way they can drive themselves to work, sports, and band practices and I don't have to keep driving them.

[jrschare]

Plus, I have twins that just started driving and am buying them each a new car. So I might be a good time to unload some silver and gold.

I'll help you get to 10 by asking why you would do that. Gold and silver is forever wealth storage that you could pass on to your twins, while new cars immediately depreciate. If they need cars for their career, at least back off a couple of years and buy them late model used ones. You will save 10s of thousands. I would also make them pay for the insurance and upkeep, if not contributing to the cost.

I am getting them each a Honda Civic. Used ones are at pretty close to the cost of a new one and they are probably about the lowest cost of ownership vehicles out there. I have way overinvested my money. I have a large 401k and Roth IRA along with quite a sizeable amount of crypto assets, so I think that they will be fine. This way they can drive themselves to work, sports, and band practices and I don't have to keep driving them.

I think I will probably keep a lot of the old US silver coins and sell off the bars when the time comes.

[68Camaro]

Plus, I have twins that just started driving and am buying them each a new car. So I might be a good time to unload some silver and gold.

I'll help you get to 10 by asking why you would do that. Gold and silver is forever wealth storage that you could pass on to your twins, while new cars immediately depreciate. If they need cars for their career, at least back off a couple of years and buy them late model used ones. You will save 10s of thousands. I would also make them pay for the insurance and upkeep, if not contributing to the cost.

I am getting them each a Honda Civic. Used ones are at pretty close to the cost of a new one and they are probably about the lowest cost of ownership vehicles out there. I have way overinvested my money. I have a large 401k and Roth IRA along with quite a sizeable amount of crypto assets, so I think that they will be fine. This way they can drive themselves to work, sports, and band practices and I don't have to keep driving them.

Can't argue with a Honda civic. But for young men the insurance can cost as much as the car.

[pmbug]

I posted a video to X. I am laughing.

https://x.com/pmbug/status/1978235114761920797

[jrschare]

One is a boy, one is a girl. I got my daughter the car already and the insurance was surprisingly reasonable. They are responsible for maintenance, insurance, and gas. My son hasn't got his license yet; he is afraid to drive. I have 3 more kids that are getting close to that age, as well.

[Lemon Thrower]

$53

[68Camaro]

$53

And, silver survived the day at 53 and is posed to make an overnight run to $54... Dollar a day keeps the doctor away...

[shinnosuke]

I'm happy to see items for sale in the RealCent Market are moving rather quickly even at these elevated prices. If one believes the price is going much higher then it's just as wise to buy now at $50 as to buy when silver was $40. Besides, $50 now is only worth the $40 of back then...or less. We're watching Gresham's Law in living color.

[68Camaro]

I'm happy to see items for sale in the RealCent Market are moving rather quickly even at these elevated prices. If one believes the price is going much higher then it's just as wise to buy now at $50 as to buy when silver was $40. Besides, $50 now is only worth the $40 of back then...or less. We're watching Gresham's Law in living color.

Well, if you don't have silver (or gold), and if you think the debt of the US is past a point of no return, with the rest of the world moving toward gold and discounting thr USD, then you are willing to pay the prices of now versus risking having nothing later.

Now, in that sense, is not much different than 2011-2012. At the time I was willing to pay previously ridiculous prices to catch up to where I felt I should be, because I couldn't be sure that the world economy wouldnt crash. But, you must not over extend, and you must have strong convictions and strong hands, because when there is a future turn down (and there usually is at some point), you must be willing to hold on through the crisis to the other side.

[Recyclersteve]

Just think- there are people on this site who remember when the price of gold was less than what silver is right now! Amazing times.

[Recyclersteve]

It pulled back by $2 last night, sure enough... to a buck OVER Sunday nights open!

Looks like it flash crashed $4 before immediately bouncing back up $2. Crazy volatility but also dips/crashes will be bought.

RecyclerSteve - you really ought to read the X post I cited in my last comment. There is a lot happening under the surface with SLV, LBMA free float and the COMEX.

I have mixed results getting info on X and don't like to openly give out my personal info. So I have to live with limited info.

[Recyclersteve]

One is a boy, one is a girl. I got my daughter the car already and the insurance was surprisingly reasonable. They are responsible for maintenance, insurance, and gas. My son hasn't got his license yet; he is afraid to drive. I have 3 more kids that are getting close to that age, as well.

Funny story about the day I turned 16. I went with my parents (we took two cars) to get my license. On the way home they said I could drive home myself. I celebrated by driving exactly 100 mph on the way home on a road with a 45-50 mph speed limit- NOT a freeway. No accidents or anything, but as soon as I hit 100 I got very scared and quickly slowed down to a more normal speed.

I still to this day can't believe I did something that stupid on Day 1.

[Recyclersteve]

It pulled back by $2 last night, sure enough... to a buck OVER Sunday nights open!

Looks like it flash crashed $4 before immediately bouncing back up $2. Crazy volatility but also dips/crashes will be bought.

RecyclerSteve - you really ought to read the X post I cited in my last comment. There is a lot happening under the surface with SLV, LBMA free float and the COMEX.

I did finally find it on “X”, but just don’t know enough about analyzing vault activity to come to conclusions I’m comfortable with. I figure there might be games that can be played- just like traders who do spoofing to create the illusion of a really big buyer when there isn’t one (aka spoofing). J.P. Morgan once got fined $1 billion for spoofing and some traders went to jail.

[AdamsSamoa]

Well guess I went to 5 Oz bars.. but still stacking

[68Camaro]

Just think- there are people on this site who remember when the price of gold was less than what silver is right now! Amazing times.

Oh I remember, but I didn't get any (and for most of that time I wasn't allowed to own it, except as jewelry). I don't remember when Krugs became acceptable to own, but I didn't get any then either. I owned silver before my first gold coin. It wasn't until 2008 or 2009 that I owned my first gold coin. I do know some people that put part of their investment into gold bars in those days, and they are sitting pretty now.

[68Camaro]

Last night for silver ended up being a consolidation night, essentially flat, with only minor ups and downs. Gold was also somewhat flat, though edging up to new highs, but slowly. Always interesting to see what the day will bring in the market.

[68Camaro]

Has London capitulated? No smackdown so far. And rather than flat or down during the New York day, we are seeing a nice intraday rise!

Any attempt to try to bound or discourage price increases by pushing the USD higher seem to have collapsed.

[pmbug]

Silver is still in the just getting started phase. London has run dry of liquid free float and the bullion banks can't ship COMEX silver over there fast enough. LBMA's OTC market is in big trouble.

[68Camaro]

So at what price does the market rebalance at?

[Lemon Thrower]

I'm happy to see items for sale in the RealCent Market are moving rather quickly even at these elevated prices. If one believes the price is going much higher then it's just as wise to buy now at $50 as to buy when silver was $40. Besides, $50 now is only worth the $40 of back then...or less. We're watching Gresham's Law in living color.

Well, if you don't have silver (or gold), and if you think the debt of the US is past a point of no return, with the rest of the world moving toward gold and discounting thr USD, then you are willing to pay the prices of now versus risking having nothing later.

Now, in that sense, is not much different than 2011-2012. At the time I was willing to pay previously ridiculous prices to catch up to where I felt I should be, because I couldn't be sure that the world economy wouldnt crash. But, you must not over extend, and you must have strong convictions and strong hands, because when there is a future turn down (and there usually is at some point), you must be willing to hold on through the crisis to the other side.

There is one important difference. This time, premiums are low (but rising perhaps?) because the price increase is coming from the paper markets not the physical markets.

[Lemon Thrower]

Just think- there are people on this site who remember when the price of gold was less than what silver is right now! Amazing times.

According to AI, that was in January 1974. I was watching Sesame Street back then.

[Lemon Thrower]

Just think- there are people on this site who remember when the price of gold was less than what silver is right now! Amazing times.

Oh I remember, but I didn't get any (and for most of that time I wasn't allowed to own it, except as jewelry). I don't remember when Krugs became acceptable to own, but I didn't get any then either. I owned silver before my first gold coin. It wasn't until 2008 or 2009 that I owned my first gold coin. I do know some people that put part of their investment into gold bars in those days, and they are sitting pretty now.

FDR stole all the gold and made it illegal to own. Ford didn't legalize it until 1975.

I bought my first silver proof set during the Hunt Bros run-up (unknowingly) around 1980 at a coin show. I went back the next month and the dealer offered to buy it back from me for double.

I can remember in the early 80s catalogs like Service Merchandise and Luria's had gold bar jewelry, and the network news would tell you the closing price of gold each night.

[68Camaro]

And silver crosses $54 (though it drops back).