View Single Post
Old 06-22-2013, 09:39 AM   #6 (permalink)
nabzy28
Member
 
Join Date: Aug 2007
Location: In a warehouse of common sense
Posts: 2,697
Default

Quote:
Originally Posted by bradjames12 View Post
I am pretty much tapped out myself otherwise I would be buying as much as possible. I just recently got into buying $1 Silver American Eagles, so my average per coin is pretty good right now. Wish I had gotten into this when silver was below $10 an ounce.
In a few years you'll have people saying they wish they bought in at under $20/oz. I don't think you'll ever see under $10/oz. again. People/suppliers would not sell. They'd just put a $5 premium on generics if they had to sell.

Personally, anything below $20/oz. to me is a firesale. Right now, if you use the factor .715 as the conversion value of 90% silver coins, as it would have been in 1964, you come up with just about what a gallon of gas is selling for at the rate it was in 1964. As a commodity to commodity comparison, if silver goes below this price it's at right now, it's the buying opportunity of a lifetime all over again, like '08. I mean, unless you think gas is going to $2/gallon again soon. Oil was the basis of valuing the dollar and the inverse of that is also true. It was dubbed the 'petrodollar' for a reason. As a reserve currency, there are some support levels that are much stronger than others for different reasons.

If you have a quarter from 1964, it bought you a gallon of gas then. If you have a quarter from 1964 today, the value of the silver content will buy you a gallon of gas at this $20/oz. level. That puts the value of a silver quarter at $3.59.

As luck would have it, I went and got gas just a half hour ago. The price per gallon? $3.5999.

Wrap your mind around that and, if silver goes lower, you know what to do.
__________________
Stop buying Panini garbage. Just stop. Next time you feel like you might, just bash yourself in the face with a 2x4 with rusty nails sticking out. Same thing. THEY.DO.NOT.CARE. How hard is it to wrap your mind around that?
nabzy28 is offline   Reply With Quote