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penny4mythoughts
Penny Sorter Member
USA
82 Posts |
 Posted - 03/18/2008 : 12:09:39
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I know I am only looking at a few days worth of data, but i am curious if anyone knows why silver has essentially stayed at 20 for the last few days when gold has spiked up?
I still believe silver is the way to go right now and for the next good-while economically, but my gold-bug friends sure are poking fun right now :)
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Los Angeles is the place I call home... |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 03/18/2008 : 12:24:14
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I'm just an economic layman, but in my opinion there's a lot of ambiguity right now coming out of Washington. Silver might tend to trail gold in terms of price trends, but as a lot of people here have mentioned, it's way underpriced if you look at its historical price ratio relative to gold. Silver is already up 30 percent just since the beginning of the year, which is nothing to sniff at. Take the long view of things and don't get impatient. Those of us who are silver bugs will be in good shape before too long.  |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/18/2008 : 14:36:29
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It is to give us a buying opportunity. I still like both Silver and Gold, but I like silver a little more. I suppose I am also a copper-bug.. especially when you can get it at half price.
The reason silver has stalled temporarily is that there are more sellers than buyers right now. I expected somewhat of a sell-off once the $20 mark was breached. Once that is absorbed we should see it moving higher.
Got a great buy on some silver this morning. Stopped by the bank to toss some gold in the box and one of the tellers calls me over and says "I know you like coins" she sells me a silver dime for 10 cents! The only time I have been able to get it cheaper was the couple of times I found silver dimes in my penny rolls! |
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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n/a
deleted
86 Posts |
Posted - 03/18/2008 : 16:43:23
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| I agree with all comments, however, Washington is trying to outlaw handguns on a proposal by a bunch of meatheads. In a financial crisis, DC my want to outlaw guns simply for the reason so they can take your gold (by justifying their means of using a gun). |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 03/18/2008 : 17:30:26
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quote:
Originally posted by Non-wise man
I agree with all comments, however, Washington is trying to outlaw handguns on a proposal by a bunch of meatheads. In a financial crisis, DC my want to outlaw guns simply for the reason so they can take your gold (by justifying their means of using a gun).
Well, good thing I don't live in D.C....It's just for D.C. not nationwide. In fact the U.S. Supreme Court ruled today that the Second Amendment DOES allow for personal gun ownership....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 03/18/2008 : 17:47:43
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quote:
Originally posted by penny4mythoughts
I know I am only looking at a few days worth of data, but i am curious if anyone knows why silver has essentially stayed at 20 for the last few days when gold has spiked up?
Because Silver is not Gold.
People get stuck on the idea that there is an exact ratio between the two, when there isn't.
Gold is the first refuge for people looking for a place to store wealth during uncertain times.
Silver is more abundant, cheaper of course, and has a greater industrial element to its demand and price. |
Trust the government? Ask an Indian. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/18/2008 : 18:37:59
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Well I for one took advantage of the dip in price to buy one last purchase of pre-1964 90% silver coins.
First shipment arrived tonight. All dimes, I wonder if the quarters are running low?
There was also a 1967 Eisenhower in there. I sent APMEX a comment asking if they had any information on the frequency of non-silver coins slipping through their checking. This particular one is very discolored, almost black, but after a bit of scraping it sure says 1967 and not 1961.
Oops! |
Sorting In Northwest Mississippi |
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n/a
deleted
86 Posts |
Posted - 03/18/2008 : 19:09:33
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quote:
Originally posted by NotABigDeal
quote:
Originally posted by Non-wise man
I agree with all comments, however, Washington is trying to outlaw handguns on a proposal by a bunch of meatheads. In a financial crisis, DC my want to outlaw guns simply for the reason so they can take your gold (by justifying their means of using a gun).
Well, good thing I don't live in D.C....It's just for D.C. not nationwide. In fact the U.S. Supreme Court ruled today that the Second Amendment DOES allow for personal gun ownership....
Deal
EXCELLENT THEN. God Bless America for our 2nd amendment rights. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/18/2008 : 19:09:42
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| Wow.. that is a serious collectable! What are you going to do with that pattern coin? The oldest Ike I have is 1971. |
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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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/18/2008 : 19:29:43
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It's down because I bought 21 ounces over the weekend. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/18/2008 : 19:35:36
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quote:
Originally posted by Ardent Listener
It's down because I bought 21 ounces over the weekend.
Isn't that always how it goes?
I'm betting just as soon as my Ryedale arrives tomorrow there will be a giga-tonned metal asteroid which will do a close enough fly-by of the Earth to get caught in the gravitational field and settle into a stable orbit, thus rendering in one fell swoop all of our precious metal hoards totally worthless.
There's gold in them thar asteroids, I'm telling you. We've just gotta figure out a way to go get it on the cheap.
Hold you breath! |
Sorting In Northwest Mississippi |
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Nickelless
Administrator
USA
5580 Posts |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/18/2008 : 22:45:30
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I'm sure he meant 76 just couldn't see from searching all the new coins
D |
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 - 03/19/2008 : 06:37:04
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My bad, it's of course a Roosevelt, not an Eisenhower.
Shows you what I know about dimes here on a penny forum! |
Sorting In Northwest Mississippi |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/19/2008 : 09:04:26
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The government is NOT coming for your guns, and it doesn't care about your silver either.
The government can barely keep out of its own way. Trust me. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/19/2008 : 09:52:36
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Silver and gold WAY down today, wish I would have waited until this morning to buy :(
Well, I'm holding for the long term, so it's fine if there's a dip or two as the price rises over the next few years. |
Sorting In Northwest Mississippi |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/19/2008 : 09:59:26
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| Continue to buy as much silver as you can afford regardless of price (to $34). You are dollar-cost averaging. The technical floor for silver is $15, so $19-20 isn't that bad. |
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n/a
deleted
86 Posts |
Posted - 03/19/2008 : 11:43:06
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quote:
Originally posted by Ardent Listener
It's down because I bought 21 ounces over the weekend.
Yeah, I bought 15 ounces silver over the weekend. Go figure and how ironic, huh?? Here's a guy by the name of Gary North who seems to be bearish on commodities such as PMs. I don't agree with everything in his article, however he does have some good points:
You must be logged in to see this link. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/19/2008 : 22:36:39
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I hope it stalls down to $5 an ounce this summer so I can buy like crazzzzzy, and then go up to $30 so you guys didn't lose any money.I know it won't but would be nice.I'm sure everyone on here would have a fun time if it did as well
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/19/2008 : 23:54:30
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| It's all my fault. I bought a silver coin yesterday. I was beginning to think I couldn't turn the market with the purchase of a single coin anymore, but apparently my magic is back. I bought a BU 1954-D Franklin half in the coin club auction for $7. Technically I actually bought 2 silver coins yesterday, but I bought the silver dime for face value at the bank when the teller offered it to me so I didn't figure that one should count. |
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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n/a
deleted
192 Posts |
Posted - 03/20/2008 : 00:41:27
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The original qwestion here boils down to,
"Why are commodities markets volitile?"
Well the answer is,
pause for dramtic effect ...
Welcome to the world of trying to establish the "value" of a "thing".
Anyone who ever said it was easy to that, has never tried to actually perform that task.
Prices fluctuate!
Get used to it, or do something else with your time.
Let me emphasize the important and salient point here,
PRICES FLUCTUATE.
Oh, and did I mention that you can't predict what the price will be tomorrow based on every fact that you can gather and digest even in the age of easy access to information?
Prices are volitile.
The whole game is for gamblers.
If you want a sure thing, investing metals is not it. |
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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Nickelless
Administrator
USA
5580 Posts |
Posted - 03/20/2008 : 04:26:21
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| Reality check: The spot price for silver has closed up nearly 50 percent this week from its price six months ago. I don't think a 6 or 7 percent drop is really that big of a deal. Most major runups in market prices are followed by a bit of a correction. I wouldn't call the present state of PMs volatile. I'd say it's been a steady upward climb, and this week is just when a slight correction was due to take place. I'll put my money in PMs, mostly silver at this point, especially since I can literally take that to the bank (well, my safe deposit box) and not worry about my FRNs being devalued. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 03/20/2008 : 09:13:08
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As I alluded to the other day in one of my posts. The markets are confused. Silver gold and all metals were considered over bought. Fasten your seat belt. If price swings are troublesome for you I suggest selling out your PM's and putting your $FRN's into something else. IMO we will see many ups and downs going into the summer and early fall. Historically this is not uncommon in an election year. Another factor in the price correction could be the need to raise capital by a lot of these hedge funds. They need to raise capital and want to capitalize on the elevated prices of these markets.( can you blame them for taking some profit off the table). During recessions, which many people believe is coming all demand drops and silver is a commodity, it's only currency value is at face. If you are long term you will be o.k. Remember the big thing in demand these days is "paper" the government will supply that and we all know what that does. Silver will recover we will just have to be patient. I'll be betting my tax rebate on it!
P.S. If you want to sell... I'm sure there will be lots of buyers |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 03/20/2008 : 15:36:16
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In this day of instant news and instant gratification, people make instantaneous decisions. A lot of people have also programmed computers to trade at certain levels.
Just watch the markets:
Friday -- Bear Sterns is bankrupt and the world is coming to an end. Sell stocks and but Gold.
Monday – The FED and JP Morgan has solved all the worlds problems things are great. Sell Gold and buy stocks.
Tuesday – The FED cuts rates even more. This is euphoria can the world get any better? Buy stocks, sell money.
Wednesday – The FED rates weren’t enough things are bad. Sell Stocks.
Thursday – The world is good the FED is running a great show. Gold is overbought sell quick before it goes down so far.
These are all instant and knee jerk reactions. Look at trends, look at fundamentals, and these will help you to know what is really going on.
One of the biggest herd instincts is to make the wrong choice every time. As soon as the news tells you that it is time to buy gold the price is about to drop. When the news tells you to sell gold, silver, copper, then is the time to buy. Right now the media is telling you to sell . . .
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/20/2008 : 17:24:33
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Unfortunately I've finished my silver buying for a while.
I've got to keep a couple of thousand in cash liquid for buying pennies, although tomorrow I hope to make my first big zinc dump, probably $500.
Depends on how long I'm allowed to sort tonight ;)
Well, there's always tomorrow to, I'm off work! |
Sorting In Northwest Mississippi |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/20/2008 : 17:45:29
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| It appears to me that commodities in general, PMs in paticular, are down because the economy is going into a recession. Recession is the word on the street this week. Inflation perhaps next week. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Topic |
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Why has silver stalled?
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