Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 30

Thread: People are going crazy for silver...

  1. #11

    Default

    Quote Originally Posted by maxwellsilverhammer View Post
    yes, jiggy, i have the same feelings. that is why i do not sell my morgans, peace, or business strike ASE's. actually i stopped selling my 90% as well. if push came to shove i would sell the rounds i have accumulated and then the bars.
    That makes sense. I told myself to just sell my old christmas 1oz rounds if someone offered over what other generics were selling for, but then I saw the "vintage" Christmas rounds and bars are selling for $48-60

  2. #12

    Default

    Nah, if the dollar crashes there will be 0 movement towards silver nor gold; you would not be able to find any anywhere. Heck look at what demand did when the price went down, supply dried out. Now multiply that times 1,000.

    Also who cares if an ounce of silver goes to $1,000 if a loaf of bread goes for $150. Those who think that they'll be rich if the dollar collapses will be in for a rude awakening. You won't lose it all like somebody holding savings accounts but you are not going to profit either.

  3. #13

    Default

    Quote Originally Posted by DBCooper View Post
    Nah, if the dollar crashes there will be 0 movement towards silver nor gold; you would not be able to find any anywhere. Heck look at what demand did when the price went down, supply dried out. Now multiply that times 1,000.

    Also who cares if an ounce of silver goes to $1,000 if a loaf of bread goes for $150. Those who think that they'll be rich if the dollar collapses will be in for a rude awakening. You won't lose it all like somebody holding savings accounts but you are not going to profit either.
    In 2000, gold was $300/oz and gas was $1.50/gal.

    Gold is now $2000/oz and gas is $3.50/gal.

    Your general premise is wrong. Gold and silver will have GREATER buying power as the dollar declines....its not just breaking even.

    Everything costs more....the dollar buys less and less, gold and silver will buy more and more.

    How much is a loaf of bread now and what was it in 2000? Is it 6x more expensive?
    Politicians and diapers must be changed often, and for the same reason. -Mark Twain

    The purpose of life is to matter, to be productive, to have it make some difference that you lived at all. -Leo Rosten

  4. #14

    Default

    Quote Originally Posted by jiggysmb View Post
    A few months ago I noticed many large buyers sending purchases out of the country. I tried to tell the dealers I speak with weekly. This past weekend I posted a lot of modern uncirculated and commemorative coins to a public forum. Hundreds of messages came asking for 90%, morgans and eagles. I responded to a few letting them know some may be available at the right price. The offers were more than I would have expected. $34 for $1 face on 90%, $40 on eagles, $40 on circulated morgans, $40-45 on silver eagles. Not sure if this was a tiktok panic, but one guy explained how he saw video after video on tik tok telling people to buy as much as they could as soon as possible.

    I spoke with a guy that sells at a large local flea market. He has pretty high premiums and doesnt sell much, but sold out Saturday morning by 9am.

    Any thought on if this is a good time to off load lower quality silver at a high premium? or just hang on for the ride?
    send those deep pocketed tik tokkers my way, i might have some shiny to sell at $34/$1 face! and maybe some morgan slicks for $50 greenbacks. i've got 90% advertised at about $30 face, crickets. 80% silverware at $25/tro ounce, crickets.

  5. #15

    Default

    Quote Originally Posted by rwh63 View Post
    send those deep pocketed tik tokkers my way, i might have some shiny to sell at $34/$1 face! and maybe some morgan slicks for $50 greenbacks. i've got 90% advertised at about $30 face, crickets. 80% silverware at $25/tro ounce, crickets.
    wow, I posted some Roosevelt dimes for $160/roll on facebook and got dozens of messages. One guy had said he would take all I had and picked a few rolls up within the hour.

  6. #16

    Default

    [QUOTE=jiggysmb;2790612]
    I posted some Roosevelt dimes for $160/roll on facebook and got dozens of messages. One guy had said he would take all I had and picked a few rolls up within the hour.[/QUOT

    wow that is 32 x face. good for you. last week someone that bought from me years ago found an old craigslist ad i forgot about listing $100 face mixed quarters, dimes at 25 x face and offered to buy all i had at 22.5 x face. i politely turned him down and ended that craigslist ad. im not selling. someone that sold me 17 x face in dec and 18 x face in feb wants to sell me a 100 ounce bar and maybe the rest of his 90% and his morgans soon. i said yes and am just waiting till he feels better. its an old friend who wants to liquidate his silver and convert to gold for easier transfer in the future. not sure what ill be buying but i am hoping the spot price at the time is not over 27 - 30 tops. i think he wants to sell his ASE's as well, but he has a dealer we know offering to pay $5 over spot for eagles. im not sure i want to match that premium to buy them but i might. we shall see. meanwhile again good for you selling at 32 x face.
    Last edited by maxwellsilverhammer; 04-18-2023 at 07:53 PM.

  7. #17

    Default

    Quote Originally Posted by Miteysquirrel View Post
    ... Gold and silver will have GREATER buying power as the dollar declines....its not just breaking even....
    I did some comparisons over a broad range of goods & services. It appears to me that gold won against goods & lost against services. The same is true of silver. Labor is now more expensive than goods, on a historic comparison. I think I used Wheat, Barley, and a days labor against a Roman denarius as my primary comparison. I took historical pricing out of the Bible & compared it to the value of the silver in a dime in today's market, since a denarius & a dime were both silver & about the same size. The Bible says that a denarius is worth a quart of wheat, 3 quarts of barley or a day's labor. There was a time in the US when a dime got you a day's low end labor too. The comparison seems relevant. The industrial revolution seems to be what skewed the balance of labor to goods. The melt value of a silver dime is a little less than $2 today. That doesn't even get you an hour's labor in the US, let alone a day. It does get you more than a quart of wheat. Even value added (processed) wheat (flour) is cheaper than that.
    “The Federal Reserve is not currently forecasting a recession.”
    Fed Chairman Ben Bernanke, January 2008
    This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.

  8. #18

    Default

    my friend bought about 5 monster boxes of silver eagles about 10 years ago. he paid about $25 a coin. he just talked with a local coin dealer we know of in a ritzy part of town that will buy a monster box from him for $8 over spot. That dealer is selling them at $14 over spot. crazy!

  9. #19

    Default

    Quote Originally Posted by maxwellsilverhammer View Post
    my friend bought about 5 monster boxes of silver eagles about 10 years ago. he paid about $25 a coin. he just talked with a local coin dealer we know of in a ritzy part of town that will buy a monster box from him for $8 over spot. That dealer is selling them at $14 over spot. crazy!
    The 60 day & 6 month charts both make me think that now might be a good time to let some go, with the intention of buying back in a month or two from now. ...assuming that availability is still good at that time. It may be a good time to sell paper & hold shiny.
    “The Federal Reserve is not currently forecasting a recession.”
    Fed Chairman Ben Bernanke, January 2008
    This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.

  10. #20

    Default

    Quote Originally Posted by SilverPalm View Post
    The 60 day & 6 month charts both make me think that now might be a good time to let some go, with the intention of buying back in a month or two from now. ...assuming that availability is still good at that time. It may be a good time to sell paper & hold shiny.
    I'm worried that you might be correct. More people are suggesting that there might be a dip in PM soon.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

Page 2 of 3 FirstFirst 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •