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Silver Buy Opportunity

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I wish we could do that.  Sadly still kinda going just month to mouth to month.  We did have a rather lively family discussion about how to invest what little extra we have.  Let me just say there was a good difference of opinion.  Our local grocery market manager,  diner eatery boss and gas station owner all said they would listen very closely if offered silver or gold.  At least up here in SW OR USA, most folks are aware of future possible economic events.  One can hope.

 

Edited by HB.  Updated info.

Edited by HB of CJ

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I've been getting silver for the last 5 years, but then started to convert a lot of it into gold for a few reasons.  Gold is easier to move and store.  I try to make sure it has collector value (pre-33 or slabbed stuff), staying with US coins if I can.  You can handle the pre-33 coins and not worry about fingerprints or oxidation.  Chase bank has already disallowed bullion and cash in the safe deposit boxes.  But I also like silver because of the low gold to silver ratio, I think silver will come out ahead, but I hate the silver premiums.

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Reasons I Like Silver

 

Silver is trading far below the cost of production, even with premiums, because of market manipulation. In my opinion silver should be trading at $40 minimum right now.

 

Silver to gold ratio is over 70:1, compared to the historical ratio of 20:1.

 

Silver production is barely meeting demand, and when demand goes up, production can’t go up short term because production can’t be increased easily or quickly. In the supply/demand/cost equation when demand goes up and supply doesn’t, price goes up.

 

Silver has an ideal weight:value ratio imo and is much easier to trade than gold in small transactions.

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Dow took a beating yesterday and today. The stock market is not where I'd have money.

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Dow's shed nearly 900 pts in the last 2 days.  I think it's gonna get worse with a slight bounce.  Wish I had some extra cash for coins.  Need to concentrate on food supply and a shallow well with a hand pump.

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Priorities.  Food I have but I'm living urban atm so no well.  A situation I hope to remedy asap.

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Yep;  it is all about priorities.  We need more food.  Have enough other stuff for right now?  Hope so.  What I do not understand and this is an excellent silver and gold thread, why is gold and silver not yet moving higher with the Dow crashing? (correcting)  I need some wisdom here please.  Monday, 24 August, 2015.  HB

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Yep;  it is all about priorities.  We need more food.  Have enough other stuff for right now?  Hope so.  What I do not understand and this is an excellent silver and gold thread, why is gold and silver not yet moving higher with the Dow crashing? (correcting)  I need some wisdom here please.  Monday, 24 August, 2015.  HB

My best guess is that the future of the U.S. Dollar is to strengthen. Over production/ slowing Chinese economy should weaken commodity prices.

 

Worsening the outlook, the greenback is climbing again on the prospect of higher U.S. interest rates later this year. Federal Reserve Chair Janet Yellen confirmed last week that the central bank will tighten its purse strings if the economy continues to strengthen, helping the dollar index hit a three-month high on Monday, which in turn, hit dollar-denominated commodities

 

http://www.cnbc.com/2015/07/20/commodity-currencies-in-decline.html

 

“We’re losing against most of our Europeans on reduced Fed expectations, but against the commodity-based currencies, we’re rocking and rolling,” said John Doyle, director of markets at Tempus Inc. “The dollar is like two currencies wrapped into one.”

 

http://www.marketwatch.com/story/yen-surges-against-rivals-as-investors-take-cover-from-asia-stock-selloff-2015-08-24

 

Silver should continue its slide

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This is not a dip, it's a disaster.

 

Dow opened down & quickly fell 1,089.42 points. That's not a typo, 1,089.42 Only barely did it manage to close above the October 2014 low (15,855), and that only after climbing 588.4 points off the low.

 

Broken beyond repair.

 

Note that crash cycles last six to eight weeks. That popping sound y'all hear are just the corks coming out of the jugs -- party is just starting.

 

Dow fell 588.4 or 3.57% to 15,871.35. S&P500 lost 77.68 or 3.9$% to 1,893.21. Investors had all weekend to stew over Friday's losses & you can bet the sell orders were stacked higher than they hung Haman this morning. Market opened & there just wasn't room for everybody to get through the door at the same time.

 

Dow in gold fell 3.1% or G$9.10 gold dollars to G$284.23 (13.75 oz), now in shooting distance of the uptrend from the 2011 low. Go look, y'all will seldom see a chart like this, http://schrts.co/C46U5s

 

Dow in silver did nothing because of silver's loss today, but is still broken & destined to fall much further. Ended at S$1,390.27 (1,075.29 troy ounces).

 

More shocking even that stocks' performance today was the US dollar index Early in the day it simply tanked, falling 248 basis points (2.61%) to a low at 92.62. Ended down only 145 basis points (1.53%) at 93.56. Chart is here, http://schrts.co/OkJ5UT

 

Dollar index SMASHED its 200 day moving average and only barely closed above the June low (93.30), ending at 93.56.

 

If this happens in the green tree, what will happen in the dry? This took place IN SPITE OF millions flowing into US Treasuries, witnessed by the 2.78% fall in yields.

 

Euro rose 1.89% to $1.1604. Who in his right mind would look upon the euro as a "safe haven"? Nuts. Gapped up and over the 200 DMA. Headed higher as surely as the US dollar is headed lower. http://schrts.co/yysHLa

 

Most shocking is the yen, up 3.05%. Gapped clean over its 200 DMA and closed at 84.42. Pushed it up to way overbought on RSI.

 

This dollar fall presents the today's biggest question. Normally a stock market crash does not take down a national currency. If anything, just the opposite as investors rush to cash for safety. This is a right bad sign.

 

Gold lost 6.20 (0.53%) to 1476.2while silver fell 53.9 cents (3.5%) to 1476.2.

 

That sent the ratio up to 78.133, following the pattern of the ratio in 2008. Most obvious explanation is that Gold is catching the flight-to-safety money but silver is not. I'm still trying to fit this together with the dollar's plunge. Look at the chart here, http://schrts.co/kh9gOy

 

Plainly I misjudged gold's strength on Friday, and its ability to punch through the resistance from $1,155 to $1,190. Will gold be sucked down with stocks? That's not what the Dow in gold says, but now we have to wonder about silver.

 

Shades of 2008! Premium on US 90% silver climbed another 45 cents an ounce today, about offsetting the drop in price. During 2008 the premium on all physical silver rose well above 50%. Paper price dropped, but physical refused.

 

More choices: maybe gold is merely correcting the vertical rally that brought it to the top channel line. About all that's sure is more turmoil. No matter whether silver & gold are pulled down in the maelstrom of stocks crashing, the aftermath will see them soar. Already you are better off to have swapped stocks for either gold OR silver than to have held on to stocks.

 

Silver's drop today shouldn't surprise us. It ain't gold, after all, but gold's little brother. Still, both today and Friday behaved much the same, with a sudden drop and just as sudden recovery. Toward day's end, however, silver looked tired and began inching down.

 

White metals were knocked down today. Platinum lost $35.60 (3.45) & palladium crumpled $29.40 (4.9%).

 

It's a panic. If you've ever lived through a house or forest fire you know what that means, the fear that grips and the confusion what to do next.

 

All in all, no matter how this panic rolls out, I'd rather be holding silver or gold in my hands than dollars. Call me paranoid. 'Twon't hurt my feelings a-tall. I ain't no more'n a nat'ral born durn fool from Tennessee anyway -- but I didn't own no stocks, remember.

 

Argentum et aurum comparanda sunt —
Silver and gold must be bought.

 

— Franklin Sanders, The Moneychanger

 

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I went to cash in my 401k a while back.  Not much else I can do with the ridiculously limited options there.  For investments outside the 401k it's all hard assets.  No stocks, bonds, funds, fiat money, false promises, fairy dust, or wishes.

 

We're riding the rainbow, and the only gold (and silver) at the end is what you brought with you.

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Yep;  it is all about priorities.  We need more food.  Have enough other stuff for right now?  Hope so.  What I do not understand and this is an excellent silver and gold thread, why is gold and silver not yet moving higher with the Dow crashing? (correcting)  I need some wisdom here please.  Monday, 24 August, 2015.  HB

I'm going to take a slightly different answer than Ed did. I'll say that the stock market drop scared some uninformed away from silver and gold. Causing a decrease along with the stocks. Looks for a boost in price on these in the coming days as those converting their stock money over to metals start making their purchases. Once the false markets fiat metal prices have had their toll, the metal market will increase

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The squeeze has started. Silver is selling out. As before, so it is again.

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$ USD    + 1.27%

$GOLD   - 1.22%

$SILVER  - 1.02%

 

Dollar gets stronger metal prices get weaker, easy peasy.

 

Silver support is $14.50/ $14.40 looks like that will break shortly.

Edited by SmilinEd
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Thank you 1911.  Thank you everybody else.  I would love to take one of those 6 hours panel discussions or same where I can learn up on this.  It feels almost counter productive or mental.  HB

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Down to $14 today.  Seems to be strong resistance there.  Hopefully it holds until Friday when I get paid.

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no bottom yet in silver, new resistance is $14.50. got a lot of ppl trapped up above. don't have the time right now to look at the put side of the isle, but if you are patient, I'm thinking easy $12.50, maybe early next yr $10.

 

 

best to you, future Hunt Brothers...!!!

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I see predictions of $10 and I'm not saying that's impossible (cause anything is possible) but I will be surprised if it goes below $13.  I'll buy every ounce I can get under $15.

 

And I'll also point out that premiums are already climbing.  However low spot goes, the actual price you pay for silver won't follow it down.

Edited by Darth Saigus

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THREAD RESURRECTION!

 

It looks like Brexit jolted some people awake.  Silver has gone from high $17s to $21.  Will it stop here?  Go higher? 

 

The value of my silver has gone up a bunch but I'm hoping this is just a spike.  I want $15 silver back.  The lower the price, the more ounces I can buy.

 

Edit.  Price dropped 0.75 in one minute.  Looks like profit taking.  Somebody dumped a crapton of etf shares I'm betting.

 

It's now bouncing around low-mid 20s. 

 

I do find it interesting watching the price making big moves. 

Edited by Darth Saigus
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So why has silver jumped so high?  Some time ago, we, (I) did manage to buy a little bit more pre '61 Silver USA worn out small coinage.  When presented after the fact that I had bought some on my own authority, (worthless amount of authority) the grandkids saved my bacon by playing the silver dollar for one Federal Reserve Note value game.

 

Then we played the silver dime for a cup of coffee plus tip included game at the local diner.  Both the waiter and waitress there already knew about silver value.  We managed to play bargain a $2.99 cup of coffee, (free many refills) down to one silver dime.  Our around noon coffee group also know and understand the one silver dime for coffee game.

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So why has silver jumped so high?  Some time ago, we, (I) did manage to buy a little bit more pre '61 Silver USA worn out small coinage.  When presented after the fact that I had bought some on my own authority, (worthless amount of authority) the grandkids saved my bacon by playing the silver dollar for one Federal Reserve Note value game.

 

Then we played the silver dime for a cup of coffee plus tip included game at the local diner.  Both the waiter and waitress there already knew about silver value.  We managed to play bargain a $2.99 cup of coffee, (free many refills) down to one silver dime.  Our around noon coffee group also know and understand the one silver dime for coffee game.

that sounds tiiiiiiiiiiits!  its just a better soundng metal when it clinks around in your pocket, you know you really have "something", not just some pot metal that we have now.....

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Lead is a better bet! All the electric vehicles STILL HAVE A LEAD BATTERY! Lithium battreies use a lead battery to run their cooling system. This is even BIGGER than the normal lead battery on an IC engined car.

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I have invested in quite a bit of lead, along with brass, copper, and steel.

 

But after you put away a decent supply of those, silver is a great way to store wealth.  Gold too but silver is more undervalued than gold atm, and gold is less liquid.

 

When you look at who is stockpiling metals right now it's obvious that trust in currencies is at an all-time low.  My trust in currency has been low for a long time.

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But after you put away a decent supply of those, silver is a great way to store wealth.  Gold too but silver is more undervalued than gold atm, and gold is less liquid.

 

 

Agreed. I have a friend who buys all his gold in 1oz bullion. He is buying gold and silver not for investment, but survival. I asked him how many instances is he going to need to get something for the value of 1oz, he didn't come up with many instances. If buying gold for survival, I'd go heavy in 1/10thoz over 1oz.

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Why silver is better than gold for economic collapse:

 

Imagine a hyperinflation scenario where the dollar drops to 1/100th it's current value.  That is not as ridiculous as it sounds.  Look at Venezuela right now, or any number of other hyperinflation events in other countries.

 

So in that event the value of an oz of gold or silver remains constant, meaning gold would be worth well over 100,000 reduced value dollars, and silver worth 2,500.  (The value of metals would almost certainly go up so multiply that by 2 or 3 or more, but for this discussion let's say it just holds steady.)  So you are in a survival situation looking to barter for food or medicine or whatever.  An oz of gold is worth far too much to trade for almost anything.  It may look like silver would also be too valuable but there's more...

 

To use round numbers, an oz of gold today will buy 300 loaves of bread, or 4,000 rounds of ammunition, etc.  The dollar falls but the actual value of things remains constant (for the sake of discussion) so when an oz of gold is worth $120,000 then a loaf of bread will be worth $400.  In that situation you could trade an oz of silver for 6 or 7 loaves of bread.

 

All this is not to say that silver is the best possible thing to have for barter.  Food, alcohol, medicine, water purification are all better emergency barter preps.  But they all have their down sides and so I diversify.

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