Tourney64 wrote:Prices will go up, once the sheeple realize paper silver holdings are worthless. There are more paper silver holdings than physical silver. Paper silver holdings SLVR is supposed to be backed by physical silver.
NDFarmer wrote:Tourney64 wrote:Prices will go up, once the sheeple realize paper silver holdings are worthless. There are more paper silver holdings than physical silver. Paper silver holdings SLVR is supposed to be backed by physical silver.
I've heard it said that for every physical ounce of silver that you have in your possession, up to 250 people own that same ounce on paper.
NDFarmer wrote:Tourney64 wrote:Prices will go up, once the sheeple realize paper silver holdings are worthless. There are more paper silver holdings than physical silver. Paper silver holdings SLVR is supposed to be backed by physical silver.
I've heard it said that for every physical ounce of silver that you have in your possession, up to 250 people own that same ounce on paper.
Recyclersteve wrote:NDFarmer wrote:Tourney64 wrote:Prices will go up, once the sheeple realize paper silver holdings are worthless. There are more paper silver holdings than physical silver. Paper silver holdings SLVR is supposed to be backed by physical silver.
I've heard it said that for every physical ounce of silver that you have in your possession, up to 250 people own that same ounce on paper.
I'd love to see someone prove that or even anything close to that. Frankly, it sounds like a statement made by someone with an agenda.
Now I do think that there are lots of older coin collectors dying and not enough young collectors being brought to the hobby. Go to a coin show and compare the number of old people with the number of young people. The number of young people there would likely include mostly people who know very little about coins, but hope to inherit grampa's collection someday. I hear very little about coin collecting from people in their 20's and 30's. This, to me, means that when estates are settled people will be selling lots of coins to dealers, who won't have a lot of new collectors to buy them. Or, in some cases, coins will be rolled up and taken to banks! One thing a bit suspicious to me (with the benefit of hindsight) is that Redbooks almost never (at least traditionally) lowered the prices of coins from year to year. It seemed that it only happened with things like errors discovered that were white hot for a short amount of time and the interest later died down. So did the prices. Example: the 2005 Wisconsin extra leaf quarters, which almost nobody talks about anymore (and that was after none other than Dave Bowers said this was the most exciting thing he'd seen in a long time).
So, IMHO, coins are a dying hobby- sad to say. Of course, it seems like stamps died first. At least with coins you have something (in certain cases) that could be (potentially anyway) melted down for money. Sorry to be such a Debbie Downer...
Cu Penny Hoarder wrote:Great post. Unfortunately, I agree with it. No one I know in the 20's or 30's collects coins. It's become an 'old man' hobby. How sad.
thecrazyone wrote:I feel like silver is the practical joke of PMs.
Its value never really seems to take off, and from what I hear, it's hard to sell.
thecrazyone wrote:I feel like silver is the practical joke of PMs.
Its value never really seems to take off, and from what I hear, it's hard to sell.
shinnosuke wrote:Right now, according to Kitco: $30.34 Poor, poor silver. Never get no respect. No respect at all. But I'm not selling.
Cu Penny Hoarder wrote:shinnosuke wrote:Right now, according to Kitco: $30.34 Poor, poor silver. Never get no respect. No respect at all. But I'm not selling.
Silver is definitely the Rodney Dangerfield of PMs. It can barely get above $30 and stay there. $50 seems light years away.
The price has been manipulated/suppressed since 1979/80. Even worse after the GLD and SLV ETFs were created.
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