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Frugi
Administrator
USA
627 Posts |
 Posted - 03/03/2008 : 08:30:41
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Silver soared past $20.00, it is currently up 2.88% for the day and up $0.57 cents overall for the day. It is resting at $20.43, gold should reach $1000.00 this week if not today.
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 03/03/2008 : 08:42:58
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| The Feds are having an emergency meeting this morning. Commodities are soaring in anticipation of lower interest rates and more dollar carnage. One of these days the Feds are going to surprise us and start raising rates, but I think not yet... |
Edited by - horgad on 03/03/2008 08:43:37 |
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Frugi
Administrator
USA
627 Posts |
Posted - 03/03/2008 : 08:46:26
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| I hope not yet. I am buying a 1st house by September. Right now is the best time to buy. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/03/2008 : 17:11:59
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| This is truly incredible. If I were wealthy, I'd be getting very rich (oil, gold, silver, copper, etc...). |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/03/2008 : 17:15:25
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Actually, September will be the best time to buy a house, with an increase in foreclosures, house builders stuck with too much inventory and desperate house sellers eager to get out from under mortgages they could barely afford or never could really afford in the first place.
The housing bust is a sellers nightmare but a buyer's dream.
Some say that 2009 will be the time to buy, but buying really depends on your own situation (need to settle down, need to move to a better neighborhood, etc.)
If silver goes up as high as $1,000 per oz, how many Morgan or Peace dollars would you need to trade for a house?
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/03/2008 : 20:08:49
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Silver Buying Spree Pushing Prices to Record Highs
Excerpt:
Investors buying physical bullion are boosting the cost of silver, a metals analyst told a commodities outlook session at the annual convention of the Prospectors and Developers Association of Canada (PDAC) in Toronto.
"That is the single most important factor pushing the price up," said Jeffrey Christian, CEO of CPM Group in New York. "They are not a residual actor; they are the single most active participants in the market."
Christian, noting the price of silver touched US$19.80 in New York on Friday, predicted the price will rise above 1980's annual average price of $21 - $22 per ounce. The price did spike as high as $48 on an intraday basis in London and New York in January 1980, but fell quickly and averaged around $38 for the full month of January that year. On an inflation adjusted basis, the daily high price would be about $96 today.....
Actually this supposed high price of $96 dollars per ounce today compared to $48 dollars per ounce in 1980 is using the official CPI inflation figures, and we all know how accurate that is.
If the Shadowstats.com real life inflation CPI were used, which reflects an inflation rate of 7.358
the silver high would be $353.18 per ounce.
Best advice, if silver keeps going up, sell when silver is in the $150-$200 range, let the speculators reach for the sun and end up like Icarus.
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 03/03/2008 : 21:48:37
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| About 5 years ago I purchased as many silver coins as I could afford. I made sure I paid no more than the going price of silver for these coins, even though they also had numismatic value. I spent a total of $4,000, when the price of silver was in the $3-$4/oz range. The wife was furious at me for spending the money, but it was just sitting in the bank earning a little bit of interest, and I knew it was a good investment. I believe it will go much higher than the $20 it's at today. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/07/2008 : 08:38:48
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Last week I finally broke down and purchased a $500 face value bag of junk silver quarters/dimes before the $20 breakthrough.
I just wish I had done this months ago.
From now on I don't want to keep more than 3-4 K in trash. |
Sorting In Northwest Mississippi |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/12/2008 : 19:42:48
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Looking at getting another $250 face value bag of coins again real soon, let's check apmex.com...
Rats! closed over $20 again today!
Asking price for the $250 face value bag (178 oz silver by weight) is at $3560.32.
Works out to $20.00 per ounce even, a little below spot.
There we go, that wasn't so hard.
Except for having to clean the ink cartridges on the printer.
Well, having my wife clean them, since it let's her feel like she's one up on me when I have to ask her to help me.
Now I just have to get the check in the mail tomorrow and wait another two weeks for them to ship it!
Humph. |
Sorting In Northwest Mississippi |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/13/2008 : 00:47:22
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Hopefully everyone will sell them to buy boats and toys this summer.I have a 2004 Corvette convertible if anyone wants to trade some silver for it!!!!!!!
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/13/2008 : 20:00:08
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quote:
Originally posted by misteroman
Hopefully everyone will sell them to buy boats and toys this summer.I have a 2004 Corvette convertible if anyone wants to trade some silver for it!!!!!!!
Derek
I'm guessing it would take quite the bit of silver to buy that beauty off of you, sounds like more of a gold purchase to me.
I don't want to think about how much copper it would be!
Well, let's see, call it $30,000 for the Vette, or 3,000,000 coppers. Assuming a 20% yield from sorting that would be 15,000,000 pennies to sort, or $150,000 worth.
A weeks work with the Ryedale running non-stop.
And at 3.1 grams per penny that works out to about 20,484 pounds of copper.
So what do you say misteroman? We got a deal 
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/14/2008 : 13:18:21
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quote:
Originally posted by misteroman
Hopefully everyone will sell them to buy boats and toys this summer.I have a 2004 Corvette convertible if anyone wants to trade some silver for it!!!!!!!
Derek
Hmmmm.. Let's see.. a car that is depreciating, or PM's that seem to be climbing? Will you take copper cents in trade? Will you pick them up? You probably got the car at a discount considering where you worked so maybe you can give one of us a good deal on it. Maybe if we added some silver and gold into the mix with the copper it would not be so bulky. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/15/2008 : 00:54:37
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Hell if anyone ever needs a gm discount Just let me know.
I got some guy in California close to $8K off of a vette last year.All I asked him to do was to send me a grand in the mail.He did and all were happy.All I would ask for, would be a few wheaties
D
PS that is a serious offer |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/15/2008 : 01:07:54
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As far as I'm concerned if someone is giving me a deal where I can make money on,I don't care if you give me leather belt buckles.If I have a buyer to get rid of them....sold.
I was selling an 02 Vette a few yrs back for 44,900,Had 0 calls on it.I changed the ad to say 44,900 or trade.A week later I had a check for $30K and a 94 Vette which I sold for $15.9 = 45,900.
Everyone was happy.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/15/2008 : 07:44:49
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Sounds like you have a keen eye for value misteroman.
I wish I was in the market for a new car, but my 2002 Saturn and my 2000 Honda Odyssey are going to have to keep us going for a few more years to come.
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Sorting In Northwest Mississippi |
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Silver is over $20/oz.
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