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Old 03-18-2020, 06:01 AM   #1
schaeway
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Default So who's buying silver?

I have dabbled in the physical silver market the past 30 years or so.
Picked up some 10 oz bars yesterday. Going to make 2 more buys over the next few weeks. Could be the opportunity of a lifetime.
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Old 03-18-2020, 06:11 AM   #2
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Default Re: So who's buying silver?

Don't keep us in suspense, how have you done?


What are the most recent fluctuations? Can't make money on any investment if the price doesn't go up and down.
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Old 03-18-2020, 06:31 AM   #3
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Default Re: So who's buying silver?

For me (at 66yrs) gold/silver makes no sense. You buy it, sit on it, and hope to sell it for a profit months or years later. It produces no income while it sits. My investments produce a steady income even when the market goes to heck (until an investment needs to be sold.)
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Old 03-18-2020, 06:58 AM   #4
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Default Re: So who's buying silver?

Have done pretty well, but only as a side investment. Silver is used mainly in the industrial market. Cell phones, computer chips, batteries etc. China is the main user. With their industries pretty much shut down, silver has plummeted. Lowest spot price since 2009, now at $12.16 oz. In July it was $18 an oz.

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Old 03-18-2020, 08:34 AM   #5
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Default Re: So who's buying silver?

I had been under the impression that precious metals went up when the stock market went down. Thus I was surprised to see the recent plummet. The China industrial situation explains it. What has happened with gold?
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Old 03-18-2020, 08:45 AM   #6
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Default Re: So who's buying silver?

Silver is so precious they made this coin.


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Old 03-18-2020, 08:58 AM   #7
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Default Re: So who's buying silver?

Quote:
Originally Posted by CKthumper View Post
I had been under the impression that precious metals went up when the stock market went down. Thus I was surprised to see the recent plummet. The China industrial situation explains it. What has happened with gold?


Some/many are having to raise cash to cover their stock market gambling.........
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Old 03-18-2020, 08:51 AM   #8
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Question Re: So who's buying silver?

Quote:
Originally Posted by schaeway View Post
I have dabbled in the physical silver market the past 30 years or so.
Picked up some 10 oz bars yesterday. Going to make 2 more buys over the next few weeks. Could be the opportunity of a lifetime.
Physical silver has been selling at a premium (63% above silver's current spot price). Here's an interesting article https://realmoney.thestreet.com/inve...HOO&yptr=yahoo
What did you pay per oz? There's a big difference between the paper and physical precious metals market in times like these. People want something they can hold in their hand
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Old 03-18-2020, 09:18 AM   #9
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Default Re: So who's buying silver?

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Originally Posted by SouthCoastStu View Post
Physical silver has been selling at a premium (63% above silver's current spot price). Here's an interesting article https://realmoney.thestreet.com/inve...HOO&yptr=yahoo
What did you pay per oz? There's a big difference between the paper and physical precious metals market in times like these. People want something they can hold in their hand
Anyone who pays 63% over spot for physical silver, needs to have their head examined.
Yesterday spot was $12.80, I paid $15.10, prox 15% over.
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Old 03-18-2020, 10:17 AM   #10
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Quote:
Originally Posted by schaeway View Post
Anyone who pays 63% over spot for physical silver, needs to have their head examined.
Yesterday spot was $12.80, I paid $15.10, prox 15% over.
Sounds like you got a great deal. Just goes to show you can't trust everything you read on the internet
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Old 03-18-2020, 11:18 AM   #11
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Default Re: So who's buying silver?

In " normal" times, the Premium will be prox 10%-12% over spot. They are charging a higher Premium now because they can.
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Old 03-18-2020, 09:14 AM   #12
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Default Re: So who's buying silver?

I invest in UHMW then turn it into gold. I get about 50% ROI on a 7-10 day turn. Never trusted the market much. My plan has always been to have no loans and save all the cash I can so when the market collapses I will be ready to buy. So far so good. Im waiting for a real-estate opportunity to invest in for my self It might even float.

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Old 03-18-2020, 11:34 AM   #13
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Default Re: So who's buying silver?

My back yard is so dug up from stashing, I'm not sure which mound to shoot at.
Not sure which are the gopher mounds now.
Which load to use in the 12 gauge? Tired of using the double ought.
And the neighbors are getting gun shy.
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Last edited by Fishfeet; 03-19-2020 at 09:51 AM.
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Old 03-18-2020, 11:58 AM   #14
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Default Re: So who's buying silver?

Wow, you lost me on this post buddy.
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Old 03-18-2020, 02:10 PM   #15
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Default Re: So who's buying silver?

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Originally Posted by Fishfeet View Post
My back yard is so dug up from stashing, I'm not sure which mound to shoot at.
Which load to use in the 12 gauge? Tired of using the double ought.
And the neighbors are getting gun shy.
sounds like You got yer still good and fired up.
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Old 03-18-2020, 02:56 PM   #16
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Default Re: So who's buying silver?

Wish I had a still.
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Old 03-18-2020, 02:58 PM   #17
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Default Re: So who's buying silver?

If you bought $1200 of Silver in 1974
you’d have $1100 worth of silver today.
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Old 03-18-2020, 02:59 PM   #18
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Default Re: So who's buying silver?

40 Year Silver Price History in US Dollars per Ounce
Current Price $14.52
40 Year High $48.70
40 Year Low $3.55
40 Year Change $-0.04 (-0.25 %)
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Old 03-18-2020, 04:27 PM   #19
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Default Re: So who's buying silver?

Quote:
Originally Posted by Penobscot View Post
40 Year Silver Price History in US Dollars per Ounce
Current Price $14.52
40 Year High $48.70
40 Year Low $3.55
40 Year Change $-0.04 (-0.25 %)
Of course that 40 year high occurred, when the Hunt Brothers were trying to corner the silver market. I remember it well!
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Old 03-18-2020, 05:28 PM   #20
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Default Re: So who's buying silver?

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Of course that 40 year high occurred, when the Hunt Brothers were trying to corner the silver market. I remember it well!
Silver actually hit an all time high of $49.50 on April 28th 2011.
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Old 03-18-2020, 04:42 PM   #21
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Default Re: So who's buying silver?

I enjoy buying silver in the same way I used to enjoy collecting football cards.

Save your money. These government enforced private business shutdowns are going to crash the housing market and the economy. Nobody learned the lesson of 2008 and went right back to taking out mortgages on half million dollar homes with a median American income. Millions of these people are living paycheck to paycheck just like in 2008. When these poor people can't go to work for 2-8 pay periods how are they going to make the mortgage? Is the county going to tell them not to worry about the past due property taxes? When it's all said and done many of them won't have jobs to go back to.

I have been waiting for the much awaited major correction to occur in order to buy property. Save your money because it's on the way and real property is a much better investment than silver.
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Old 03-18-2020, 05:21 PM   #22
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Default Re: So who's buying silver?

I don't consider the metals to be investments. They are insurance against inflation and when and if the bottom drops out.
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Old 03-18-2020, 05:30 PM   #23
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Default Re: So who's buying silver?

I was just telling my wife that we should have been listening to William Devane!
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Old 03-18-2020, 08:18 PM   #24
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Default Re: So who's buying silver?

Precious metals are ok, but if the SHTF it’s not going to do you much good. They serve little to no practical value. Better off with booze, cigs, candles, batteries, fuel, food, toilet paper, guns, ammo, meds, etc.

The guy with an extra case of top ramen isn’t going to pay you spot.

It is fun to hold though. YMMV

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Old 03-19-2020, 04:37 AM   #25
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Default Re: So who's buying silver?

When buying physical metals, you don't buy and sit on them forever hoping they go up over 20 years. You buy and sell repeatedly with the market and make your coin not all at once, but over many cycles.
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Old 03-19-2020, 06:05 AM   #26
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Default Re: So who's buying silver?

Yup. Numerous small gains over the short term add up to huge gains at the end of the year. This is possible with a lot of stocks too. A volatile market makes for huge profits.
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Old 03-19-2020, 08:14 AM   #27
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Default Re: So who's buying silver?

I stocked up on Laser-Cast and True Shot bullets over the years.... which are advertised to be the "Original Silver Bullet". Does that count?
Although I don't plan on selling them for any profit.

Last edited by 444Marlin; 03-19-2020 at 08:15 AM. Reason: added line
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