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Old 06-20-2013, 09:04 AM   #1 (permalink)
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Default Silver starting to tank again

Silver is at $20.01 and OZ as of right now. Six months ago it was at $34 OZ.
Wonder how low it will get this time?
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Old 06-20-2013, 10:36 AM   #2 (permalink)
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If you believe some people, it is going down to the $15-17 range.
On 6/18 a roll of 20 $1 Eagles from Scottsdale was $521.44, today it is at $487.14
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Old 06-20-2013, 11:02 AM   #3 (permalink)
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I heard the same thing from coin guys recently who have been buying silver for over 20 years. It's going to go down some before it goes way up. It's getting close to the time if not already for some to
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Old 06-20-2013, 11:27 AM   #4 (permalink)
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All the precious metals are getting hammered, down 10% or more in 3 days, palladium is actually down nearly 15% (was $764, now $662).
I held off buying yesterday, but I think today is a good day for a couple more 10 oz. silver bars. Not a huge buy, but I'll save a little for another buy if it drops more next week.
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Old 06-20-2013, 11:27 AM   #5 (permalink)
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It was due for a correction but, don't be too far distracted by the pricing volatility of gold/silver. Right now, this devaluation is nearly 100% due to the dumping of ETF contracts on metals into the markets. Registered gold at the COMEX is near an all time low. Central banks are buying gold for the first time in history. Banks have switched from a seemingly never ending short of the metals markets to being long for the first time. They know what's up. They just need to keep people far away from the metals while they hoard up all the physical they can, sticking uneducated investors with the paper ETF products. Keep calm and carry on.
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Old 06-20-2013, 11:51 AM   #6 (permalink)
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It was due for a correction but, don't be too far distracted by the pricing volatility of gold/silver. Right now, this devaluation is nearly 100% due to the dumping of ETF contracts on metals into the markets. Registered gold at the COMEX is near an all time low. Central banks are buying gold for the first time in history. Banks have switched from a seemingly never ending short of the metals markets to being long for the first time. They know what's up. They just need to keep people far away from the metals while they hoard up all the physical they can, sticking uneducated investors with the paper ETF products. Keep calm and carry on.
not sure if I could have summed it up much better than this. I know there are much more educated people out there than me on the subject, but knowing full well that there are way more paper eft contracts than actual physical metal being stored by these holders can't be good when everyone wants to sell their "share" or take delivery of their "share" of a bar.

I purchased way high on some of my metal but holding off for the last few months might have paid off.
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Old 06-20-2013, 01:55 PM   #7 (permalink)
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Silver is at $20.01 and OZ as of right now. Six months ago it was at $34 OZ.
Wonder how low it will get this time?
I like $16.50 an oz... don't want to wait to long bc all it takes is one spike and its up up and away...
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Old 06-20-2013, 04:51 PM   #8 (permalink)
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I like $16.50 an oz... don't want to wait to long bc all it takes is one spike and its up up and away...
It is fast approaching a range where the upside potential FAR outweighs the downside risk. Reluctantly, I held off on buying so far today. Need to see what happens in the London exchange overnight and see if the sell off continues. It is heading into Friday which, lately, has been the manufactured beat-down of metals quite consistently....
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Old 06-20-2013, 05:09 PM   #9 (permalink)
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where do you guys buy your metals at?
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Old 06-30-2013, 12:16 PM   #10 (permalink)
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where do you guys buy your metals at?
Local, face to face and with cash.
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Old 07-23-2013, 08:03 PM   #11 (permalink)
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How much does silver factor in when you consider a collectible numismatic coin? Does the coin always go down in value like bullion? Or are there other factors that determine it's price?
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Old 07-23-2013, 08:53 PM   #12 (permalink)
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where do you guys buy your metals at?
APMEX, Silvertowne, Provident, Monarch, Gainesville.
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Old 07-24-2013, 12:24 AM   #13 (permalink)
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How much does silver factor in when you consider a collectible numismatic coin? Does the coin always go down in value like bullion? Or are there other factors that determine it's price?
Scarcity of condition is the biggest factor with Numis. Most bullion material Numis stay above melt unless they're dirt common or in terrible condition.

There are several coins in the US Mint Catalogue that are minute amounts of gold/silver, but are worth hundreds of thousands of dollars due to rarity.
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Old 07-24-2013, 05:13 PM   #14 (permalink)
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Still waiting for it to fall into the $17.00 range. I don't expect it to ever reach the $40.00 range anytime soon. I think once it starts a upwards trend it will settle in the 20-25 range.
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Old 07-31-2013, 03:13 PM   #15 (permalink)
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Some real volatility today.

It opened at $19.75 and promptly dropped to $19.40 then suddenly turned on a dime and shot up to $20.06. Seems to be hovering near $20 now.
Much more fun to watch an active market than one where it goes up or down a bit within a tight range.
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Old 07-31-2013, 06:01 PM   #16 (permalink)
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Silver $19. 81 and world market opens in 5 minutes. Still in a Downward trend. The activity is the stop buying and selling. Personally i see no need to buy in this price range although i am tempted.
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Old 08-06-2013, 04:20 AM   #17 (permalink)
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not sure if I could have summed it up much better than this. I know there are much more educated people out there than me on the subject, but knowing full well that there are way more paper eft contracts than actual physical metal being stored by these holders can't be good when everyone wants to sell their "share" or take delivery of their "share" of a bar.

I purchased way high on some of my metal but holding off for the last few months might have paid off.
Agree with both of you..
I PRAY it hits 15$ an oz bc I would take a loan on my propert for 300k and buy 20k oz..
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Old 08-11-2013, 07:31 PM   #18 (permalink)
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After a big rally on Friday Silver is still going up in early trading today, even topping $21 at one point for the first time in what seems like ages.
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Old 08-11-2013, 11:14 PM   #19 (permalink)
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After a big rally on Friday Silver is still going up in early trading today, even topping $21 at one point for the first time in what seems like ages.
Lol just sold a nice lot on ebay of all places for a ridiculous price
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Old 08-11-2013, 11:25 PM   #20 (permalink)
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For some reason the buyers on Ebay pay high premiums for common bullion. Silver is still in a downward trend. I might order the reverse proof buffalo gold from the mint. For me if i buy bullion its gold not silver. 1600 a coin for the buffalo.
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Old 08-11-2013, 11:27 PM   #21 (permalink)
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It's up again..... $21.03
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Old 08-11-2013, 11:35 PM   #22 (permalink)
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This rise is good news, although I have a feeling we'll see it below $19.50 by the end of the week.

I hope so, anyways. I'm going to be purchasing this Friday.
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Old 08-12-2013, 09:05 AM   #23 (permalink)
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Lol just sold a nice lot on ebay of all places for a ridiculous price
feebay is great for premiums. I got reamed on another site for posting, what I feel to be, the reasoning for it.... people just want instant gratification. The different mindset type of person buying a tube of SAE's there is different from the seasoned metals buyer. For whatever reason, this is totally beyond comprehension to the original poster that was looking for reasoning on another site. Anyway, all I'm saying is that you have people who want an item now, and are willing to pay the premium to get it. Nearly everything on feebay is shipped within 72 hours of payment, or perhaps 3 business days. Great. Super. This works well for people who don't know about the 20 websites that have metals for less. They don't want anything to do with sending paper checks and waiting 10 business days after receipt of said check for shipping.

The proof is right in front of people. Just look at how many of those metals products sell on the Daily Deals page. There is a TON of market information and purchasing habits on display for anyone who wants to take the time to review it. People are quite willing to pay well over spot from trusted sources.

I think it's a great thing that eBay is doing, working with places like MCM, Apmex and others to get metals in front of a lot of people. It can only help in the long run by making even more people aware.
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Old 08-12-2013, 10:48 AM   #24 (permalink)
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I sold all my $20/$20 2012 Polar Bears last month. I had 10 and they didn't last very long. I'm just keeping the good stuff right now and holding off on buying more until it shows a decent fall again. people on ebay are still paying far over spot
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Old 08-18-2013, 09:59 PM   #25 (permalink)
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Damn it, Silver needs to stop going up so damn fast. I need it to go down, or at least trade sideways for a few weeks until I can afford at least 1 last significant buy.

Market opened at $23.22, already hit $23.60 in early trading.
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