Is Silver next?

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  • jmarriott

    Grandmaster
    Rating - 100%
    6   0   0
    Dec 5, 2009
    5,911
    113
    Madison county
    "Having sold several 100oz bars of silver I disagree. I have never had any trouble selling one,and the last 3 I sold were spot +5%."

    Just curious, IF you don't mind.
    Viewing PMs as a store of wealth, why would you have sold bars back into the market at less than apocalyptic times?
    Was the spread just too tempting, financial emergency, etc?
    Again, it's your business, you can decline responding.
    I was just curious about your mindset in selling.
    I sell silver when the price ratio favors putting that into gold. Normally waiting for the spot price to be artificially lowered and buying more silver then.

    Not done it many times but I have done it. Easier for me to afford a few rounds of silver from the coin shop than popping for gold alone. I can only figure that was the mindset if he was move 100 oz bars.
     

    teddy12b

    Grandmaster
    Site Supporter
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    36   0   0
    Nov 25, 2008
    7,324
    83
    There's a lot of things I like about silver, but ultimately it's an insurance policy for me. I have zero faith in my government to do the right thing and I think eventually we'll have a different currency in my lifetime. When that happens, there will need to be an alternative means of barter and precious metals seems the most likely route.
     

    smokingman

    Grandmaster
    Rating - 100%
    2   0   0
    Nov 11, 2008
    6,813
    149
    Indiana
    "Having sold several 100oz bars of silver I disagree. I have never had any trouble selling one,and the last 3 I sold were spot +5%."

    Just curious, IF you don't mind.
    Viewing PMs as a store of wealth, why would you have sold bars back into the market at less than apocalyptic times?
    Was the spread just too tempting, financial emergency, etc?
    Again, it's your business, you can decline responding.
    I was just curious about your mindset in selling.
    Simple. I needed funds for projects,more than I had in cash available. I could have used loans or credit cards,but why when selling just a few bars could keep me out of debt?
    I do not see it as Only a way to preserve wealth,but a fairly liquid way to. Savings accounts did this at one point,but have not kept up with much less beat inflation in well over 20 years now.
    Just like a savings account you can draw on it when you feel it is worth it,and add to it over time.
     

    blain

    Plinker
    Rating - 0%
    0   0   0
    Dec 27, 2016
    121
    43
    Evansville
    Simple. I needed funds for projects,more than I had in cash available. I could have used loans or credit cards,but why when selling just a few bars could keep me out of debt?
    I do not see it as Only a way to preserve wealth,but a fairly liquid way to. Savings accounts did this at one point,but have not kept up with much less beat inflation in well over 20 years now.
    Just like a savings account you can draw on it when you feel it is worth it,and add to it over time.
    Thanks for the reply. I was just curious about the sale circumstances.
    I know that silver and gold have been real money for thousands of year.

    I like the 1912 JP Morgan quote... “Money is gold, nothing else.”
     

    snorko

    Grandmaster
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    345   0   0
    Apr 3, 2008
    7,498
    113
    Evansville, IN
    I would be OK buying at this price. I think it will soon settle in the $24-$28 range for a bit. I miss the heady days of low to mid $30s.

    I will continue as I have. I sold some recently and used the funds to buy some Black Friday spot priced gold. I will happily continue to make modest purchase of either Ag or Au as the opportunities arise. I note that the ratio based on Monument Metals is just under 80:1. Been a bit since that happened.
     

    Mij

    Master
    Rating - 0%
    0   0   0
    May 22, 2022
    1,622
    113
    In the corn and beans
    Gold over $1,800, silver closing in on $23. I haven't heard anything on the speech yet, did they bump 50 or 75 basis points?
    Just caught the end of it he was talking about what they expected to do in Dec. It was a snippet of the presser he gave. So I looked at the markets and low and behold metal shot up. Didn’t get any specs.
     

    Mij

    Master
    Rating - 0%
    0   0   0
    May 22, 2022
    1,622
    113
    In the corn and beans
    Kitco is saying there will be some profit taking by the paper guys that bought in at 1600.00.

    Now it’s paper gold and some are going to make money. Some a lot of money. Not to worry COMEX says they don’t manipulate the market. And the CFTC agrees with them.

    Anybody want to buy a bridge???

    edit: Anybody want to buy a bridge???
     
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