Originally Posted by bradjames12
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.