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

[Cu Penny Hoarder]

I remember one co-worker vehemently arguing with me about owning any physical silver or gold. He thought I was dumb for doing so. He is very opinionated to begin with and just wouldn't listen to anything I had to say. A few weeks later he asked me out of the blue if I was still buying silver. I told him "no...I sold it all based on our conversation a few weeks ago" lol. His reply was "smart man!"

Just be careful about letting others know your personal business. Never let anyone know where you keep it or how much you have. Lie and tell them you keep it all at a vault at Brink's. Best thing to do is keep you mouth shut for safety sake.

[Sanford02]

No marriage for me... not ever. I cannot imagine having to ask someone permission to do or purchase something.

I don't think you correctly understand what a good marriage looks like. Anyone whose marriage involves "permission" is doing it WAY wrong. A little mutual respect goes a long way...and completely eliminates any environment where "permission" is ever considered.

[fasteddy]

No marriage for me... not ever. I cannot imagine having to ask someone permission to do or purchase something.

I don't think you correctly understand what a good marriage looks like. Anyone whose marriage involves "permission" is doing it WAY wrong. A little mutual respect goes a long way...and completely eliminates any environment where "permission" is ever considered.

Yeah, ^^^^this is true....it is not a great marriage if you have to ask. I have never asked my wife permission to make a major purchase...she is on board for everything I do....it is respect.

In fact it was her idea to give our kids an ASE when they lost a tooth. She would go to the LCS and by them for $4.50 each. lol. She told me to prepare cuz we feel the grandson will lose one or two this year....and she knows how much the ASE's are now.

She was a little confused when she was with me on a purchase of a bunch of war nicks for .75 cents each years ago....but when I sold then in 2011 and nearly paid for a kitchen remodel she understands. She will even return all my sorted coin and make the deposit. Those deposits are spot on.

It is hard to be a silver hound/hoarder...waiting and waiting and waiting for the next big run up. I feel it maybe a long wait. Keep on keeping on.

[Cu Penny Hoarder]

No marriage for me... not ever. I cannot imagine having to ask someone permission to do or purchase something.

I don't think you correctly understand what a good marriage looks like. Anyone whose marriage involves "permission" is doing it WAY wrong. A little mutual respect goes a long way...and completely eliminates any environment where "permission" is ever considered.

You still need to run things by her (i.e. permission), especially where spending money is concerned. That might be fine and dandy for you, but not for me.

Stats don't lie. 50% of marriages end in divorce. For those foolish enough to marry a second time, 70% of those marriages end in divorce. If planes crashed 50% of the time, would you fly in one? Marriage is very risky for a man. Women have too much power in family and divorce courts, and they often abuse that power when things turn sour. The judge usually sides with them.

There still are a few good women left out there... if you got lucky and found one, good for you.

[Cu Penny Hoarder]

PMs catching a bid again!

Go... go... GO!

[amalekidad]

Already past $16.125!!
Is this a trend?

Evidently not.

[CardsNCoins]

A title change might be in order for this thread.

[Know Common Cents]

I admit to being somewhat encouraged by the results of the Fed Reserve meeting that ended today. We'll see what develops. I'm fresh out of magic wands, but I did detect a spark in the bullion chats later this evening.

[68Camaro]

Gold and silver prices are largely a function of the USD. (Pt and Pd are also affected by the USD but due to their overwhelming industrial use combined with rarity, they can be even more strongly affected by other factors as well.) The dollar is still relatively strong, which suppresses PM prices. But what I find encouraging is that PMs are also "slipping" upward over time (relative to the USD value as measured by other currencies). When the USD drops again back into the 70s (and it will), you will see the big push back up to ~$1700 gold and $30 silver. Add in a bit of market fear, with increased attention and /or enthusiasm and those numbers will pop up another 20-50% further (without certainly that that higher line will hold). It's all about the strength of the USD.

As some have been saying (including me), the value of the USD at this point makes this an absolutely fabulous time for a US citizen to convert USD into hard wealth, an opportunity which almost no other country has to the extent we do, and one that is a moment in time and won't last.

[scyther]

Back over $16.

[Recyclersteve]

Silver, gold and nickel are all acting well. See a separate post I made for more info.

[Zincanator]

I got one horse in this race. Her name is Hiho Silver. Got a heavy collection of copper and a small bag 'o gold jewelry collected over the years. Those are my red-headed step children

[Cu Penny Hoarder]

About a 8% gain since the beginning of July, however short term price movements are not very important. Wasn't there a guy here who sold his entire stash at $14? - ouch.

Notice how many people have disappeared from this forum since 2011. I wonder how many are still posting since then? I'd guess around 25%. I expect a substantial increase in posts as the price goes up. Herd mentality is a interesting thing. Observe the people around you, your family, friends and co-workers... notice how rare contrary and critical thinkers are.

[Recyclersteve]

About a 8% gain since the beginning of July, however short term price movements are not very important. Wasn't there a guy here who sold his entire stash at $14? - ouch.

Notice how many people have disappeared from this forum since 2011. I wonder how many are still posting since then? I'd guess around 25%. I expect a substantial increase in posts as the price goes up. Herd mentality is a interesting thing. Observe the people around you, your family, friends and co-workers... notice how rare contrary and critical thinkers are.

I believe the $14ish seller had “Idaho” in his name.

When you have membership with a lot of people in their 60’s and older (as I feel RC likely does), probably a lot of people will either die or become incapacitated over the span of 8 years. Others have become too apathetic to care anymore.

I do agree with you on the herd mentality aspect. This will be interesting to watch.

[IdahoCopper]

November 2017, I sold a whole lot, +80% of the hoard at $17.

Is it back up to $17/oz yet?

[InfleXion]

When you have membership with a lot of people in their 60’s and older (as I feel RC likely does), probably a lot of people will either die or become incapacitated over the span of 8 years. Others have become too apathetic to care anymore.

I do agree with you on the herd mentality aspect. This will be interesting to watch.

Apathy is a big factor big in my opinion. The silver market has been so abused that I have to think any fairweather investors are long gone. And who wants to post about something that they aren't interested in anymore or that burned them? If the market is ever allowed to fly free I fully expect the herd to become active, but at $16 it's still too soon for that. It's funny to think about how I'd be excited about $20 again even though I was perfectly happy to buy in the high 20s and low 30s on the way down. Although I mostly bought semi-numis so I'd like to think I can more easily get out from under them if so desired (not).

[InfleXion]

I was surprised to see that silver blew through $17 on Friday with no immediate sign of correction. Now standing at $17.62. That may change when the week starts, but gold is also racing toward $1,600, and that's the trend to watch.

https://www.moneyweb.co.za/news-fast-ne ... ts-mettle/

I heard Trump say something the other day about how the Fed needs to do their job properly and lower interest rates because they raised too fast (huge surprise..), and that we'd see an economic boom if they did, but it sounds like trade wars are more likely the driver behind this bull, not to mention instability in Libya which was a big factor in the run up to $1,900 in 2011. This might be the perfect storm to fuel the next big rally.

[Cu Penny Hoarder]

There's $18.

Let's see if there's a take down soon.

[68Camaro]

Maybe 18 ask, not bid. It is bid (typo correction) that matters. Regardless it is going up more on speculation right now, so when the traders decide they are done they will exit with their profit and let the mini bubble collapse That isn't a take down - that's the collapse of an upward profit scheme attempting to take advantage of a combination of news events to create its own weather (upward inertia) so that the in crowd can exit positions before the idiot followers. Being a former idiot follower, I know, and I realized they can move faster and being the rule makers can zig when the previous pattern was a zag, allowing the followers to get caught out. Every once in a while you can take a gamble that you can guess their next move (and JFF claimed to have the tools that would let him see their moves and stay ahead of them), but staying at or below the long term market trend and buying physical on dips imay have lower return but s nearly risk proof.

[68Camaro]

Bid (dang had to correct it again) finally did go over 18. I suspect the speculator news is that silver production is down significantly year to date. Whether that is reduced production due to the formerly depressed price - which took a long time to catch up being a lagging indicator. Or whether it is as others claim and that we've hit peak silver production, it is hard to tell in the moment. Maybe both, combined with speculator greed.

[Cu Penny Hoarder]

Bid (dang had to correct it again) finally did go over 18. I suspect the speculator news is that silver production is down significantly year to date. Whether that is reduced production due to the formerly depressed price - which took a long time to catch up being a lagging indicator. Or whether it is as others claim and that we've hit peak silver production, it is hard to tell in the moment. Maybe both, combined with speculator greed.

Or, maybe it was just JP Morgan finally giving it the green light.

You sound somewhat negative about the move. Hope you didn't sell like others here.

[JJM]

I am looking forward to offloading my $27 silver at some point in the next 5 years! I have appreciated the time (and prices) to dollar cost average since then, but it will still be nice to offload this $27 silver...lol.

[Cu Penny Hoarder]

I am looking forward to offloading my $27 silver at some point in the next 5 years! I have appreciated the time (and prices) to dollar cost average since then, but it will still be nice to offload this $27 silver...lol.

It'll hit $27 much sooner than you think.

I may let a few ounces go when it hits $50.

[pennypicker]

I am looking forward to offloading my $27 silver at some point in the next 5 years! I have appreciated the time (and prices) to dollar cost average since then, but it will still be nice to offload this $27 silver...lol.

I'm still sitting on a bunch of $42 silver from 2011 when I fell victim to both greed and the prognostications of "$100 silver" by the local coin shops--I still have a way to go before I can unload

.....I was living in Oregon at the time where there is no sales tax so at least I didn't have to endure the "double ream" if that's any consolation.

[Country]

Patiently waiting for the resurgence of PMs. We will soon see ....