SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Cu Penny Hoarder » Wed Oct 11, 2023 6:33 am

Fun to read these old threads, especially when I'm bored.

Won't have much higher prices until...

1. The banking/financial system fails

and/or

2. The USD becomes completely worthless.

Until then the manipulation and suppression will continue.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Tourney64 » Wed Oct 11, 2023 7:55 am

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.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby NDFarmer » Wed Oct 11, 2023 10:06 am

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.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Recyclersteve » Wed Oct 11, 2023 10:19 pm

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 wonder how much of silver “ownership” is people and hedge funds selling short and betting that silver will go down. I’m unable to find short interest on the SLV silver ETF. I suspect that any official stats could somehow be misleading. Oh well…
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Cu Penny Hoarder » Thu Oct 12, 2023 5:41 am

When the market gets smashed PM prices will go down with it. It's happened MANY times.

Gotta cover those margin calls.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Recyclersteve » Fri Nov 10, 2023 3:41 am

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...
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NOTE: ANY stocks I discuss, no matter how compelling, carry risk- often
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby 68Camaro » Fri Nov 10, 2023 7:05 am

Stamp collecting waned as actual postage itself became unimportant. Coin collecting is following the same pattern. (But in both of those hobbies, high end collections will retain at least some value.)

That said, commodity acquisition based on intrinsic value, which overlaps historic coin collecting (not the newer base metal coins), is not subject to the same vagaries of cultural popularity of a collecting hobby. If you acquire coins based on intrinsic PM content you lower your risk down to that of the commodity itself.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Cu Penny Hoarder » Fri Nov 10, 2023 8:34 am

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...


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.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby JerrySpringer » Fri Nov 10, 2023 10:26 pm

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.


All those CRH'ers on YouTube, are they youngsters? Maybe it is a divergence of pursuits? They are looking for silver coins they can flip? Maybe some get the metal value thing and inflation hedge. I think a lot of the younger generations just don't think about coins. Possibly a barbaric relic of commerce in the boomer era, lol.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby thecrazyone » Sat Nov 11, 2023 7:26 am

My sons know about coins, but only due to me and their grandparents. I don't think many kids are getting those teachings at home anymore.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby thecrazyone » Sat Nov 11, 2023 7:28 am

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.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Silver4face » Sat Nov 11, 2023 10:30 am

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.


You are basically correct except for one year - 2011 when it soared to fifty bucks.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Recyclersteve » Sun Nov 12, 2023 9:51 pm

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.


Go to a big coin show like the ANA or Long Beach shows and you should have no difficulty selling even several hundred thousand dollars of silver coins. If you reach out to A-Mark Precious Metals, they too should have the ability to buy very large quantities without flinching.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby shinnosuke » Thu Jul 04, 2024 10:06 am

Right now, according to Kitco: $30.34 Poor, poor silver. Never get no respect. No respect at all. But I'm not selling.
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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Cu Penny Hoarder » Thu Jul 04, 2024 2:43 pm

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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Re: SILVER - WAS $31-$49, WAS $33-$43, NOW $44+

Postby Silver4face » Thu Jul 04, 2024 5:36 pm

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.


I hate to hijack this thread, but I was definitely a Rodney Dangerfield fan : Caddyshack, Easy Money, Back to School etc etc.
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