Blowout Cards Forums
Blaster Master

Go Back   Blowout Cards Forums > BLOWOUTS OTHER HOBBY TALK > COINS & CURRENCY

COINS & CURRENCY Post your coins, currency, & precious metals hobby talk here.

Reply
 
LinkBack Thread Tools Display Modes
Old 06-21-2013, 07:39 PM   #1 (permalink)
Approved Group Sub Host
 
smackvay's Avatar
 
Join Date: May 2012
Location: west virginia
Posts: 6,810
Default Any thoughts on the Silver and Gold prices?

What in the world is going on with the prices? I'm sorta new to the whole thing and i just dont understand these huge price swings? Anyone want to elaborate?
__________________
SUPERCOLLECTOR LOOKING FOR PAT WHITE CARDS
NEED SILVER? HAVE SILVER? PM ME EITHER WAYAS IVE GOT PLENTY OF PAYPAL TO PURCHASE YOUR SILVER
smackvay is offline   Reply With Quote
Old 06-21-2013, 09:17 PM   #2 (permalink)
Member
 
Join Date: Aug 2007
Location: In a warehouse of common sense
Posts: 2,509
Default

This request would take pages to explain. Bottom line - it's been one of the most manipulated markets ever. Banks control the issuance of ETFs that are used as the basis for the "value" of the physical metals. They dump millions of shares of the ETFs into the market to drive the perceived prices of the physical metals down. (spot price) Why the hell the two are seen as the same is absolutely beyond my comprehension but, that's how the big banks keep the people blind to the truth.

If you really are new to this, as in just the last couple months, welcome. You might just be getting in at what will prove to be the best opportunity in years. This market did the same thing in late '08 as all other markets tanked. If you bought in then, you did very well and are still way up on both gold and silver.

Anyhow, go here:

https://www.kitcomm.com/forumdisplay.php?f=8

There's a ton of information on there. Just sift through the stuff about how the price will go up a million bajillion by next week. There are some very knowledgeable folks on there who have been in these markets for 50 years.

As for me, I've been adding on a consistent basis. Like all markets, it will fluctuate. Now is a huge acquisition opportunity in my opinion.
__________________
Football cards: In before Panini destroyed the hobby.
nabzy28 is online now   Reply With Quote
Old 06-21-2013, 09:22 PM   #3 (permalink)
Approved Group Sub Host
 
smackvay's Avatar
 
Join Date: May 2012
Location: west virginia
Posts: 6,810
Default

Quote:
Originally Posted by nabzy28 View Post
This request would take pages to explain. Bottom line - it's been one of the most manipulated markets ever. Banks control the issuance of ETFs that are used as the basis for the "value" of the physical metals. They dump millions of shares of the ETFs into the market to drive the perceived prices of the physical metals down. (spot price) Why the hell the two are seen as the same is absolutely beyond my comprehension but, that's how the big banks keep the people blind to the truth.

If you really are new to this, as in just the last couple months, welcome. You might just be getting in at what will prove to be the best opportunity in years. This market did the same thing in late '08 as all other markets tanked. If you bought in then, you did very well and are still way up on both gold and silver.

Anyhow, go here:

https://www.kitcomm.com/forumdisplay.php?f=8

There's a ton of information on there. Just sift through the stuff about how the price will go up a million bajillion by next week. There are some very knowledgeable folks on there who have been in these markets for 50 years.

As for me, I've been adding on a consistent basis. Like all markets, it will fluctuate. Now is a huge acquisition opportunity in my opinion.

I scored 1,000 war nickels and around 800 40% kennedys in the last week and unless a steal of a deal comes along im tapped out lol
__________________
SUPERCOLLECTOR LOOKING FOR PAT WHITE CARDS
NEED SILVER? HAVE SILVER? PM ME EITHER WAYAS IVE GOT PLENTY OF PAYPAL TO PURCHASE YOUR SILVER
smackvay is offline   Reply With Quote
Old 06-22-2013, 08:46 AM   #4 (permalink)
Member
 
Join Date: Sep 2009
Location: Indianapolis
Posts: 327
Default

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.
bradjames12 is offline   Reply With Quote
Old 06-22-2013, 09:11 AM   #5 (permalink)
Member
 
Join Date: Feb 2011
Posts: 907
Default

The markets are very manipulated. But if you study the charts over a long enough period, you can usually know where the markets are heading, I said in a previous thread about a month or so again, we woul be seeing $19, we are still going lower. We will see $15 and most likely $12 silver, and even $8 is not out of the question. I love huge price drops like this you can really score aton of physical for alot cheaper, but on the other hand, your current stockpile drops in value like crazy.

It sucks during huge drops, during this last drop my stockpile "lost" more value/money in 3 weeks, than I will make in the next 2 years. But I know it will rebound someday.


One piece of advice, anytime the price is higher than what you paid, SELL. If I sold all of my silver in 2011, I would have realized a $150k profit, I got greedy, and now may have to wait 5-10 years to reach the same profit level.
twoten01 is offline   Reply With Quote
Old 06-22-2013, 09:39 AM   #6 (permalink)
Member
 
Join Date: Aug 2007
Location: In a warehouse of common sense
Posts: 2,509
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.
__________________
Football cards: In before Panini destroyed the hobby.
nabzy28 is online now   Reply With Quote
Old 06-22-2013, 01:30 PM   #7 (permalink)
Member
 
IronMonkey415's Avatar
 
Join Date: Nov 2008
Location: San Francisco, CA
Posts: 14,942
Default

So you are saying I should take my ass to APMEX and buy up all the silver coins?
__________________
Only shipping in the U.S.
IronMonkey415 is online now   Reply With Quote
Old 06-23-2013, 05:20 PM   #8 (permalink)
Member
 
Join Date: Aug 2007
Location: In a warehouse of common sense
Posts: 2,509
Default

All I'm saying is, when markets are at their best, you hear about it everywhere and everybody is a winner. (Stock market currently. Metals in 2009) When markets are at their worst, you hear about it everywhere and everybody and their brother just absolutely KNOWS it's a foolish investment. (Stock market in late 2008/metals right now)
The investment community loves them some positive reinforcement. The stock market has provided them just that for the last few years. Contrary to that, the metals have steadily declined since highs in 2011 and have provided market lovers everything they need to keep away. Markets reverse. Trends change.

I can't tell anyone what to do. I can present years of research and also recommend to each person to do your own due diligence in researching what is best for you. For me, worthless paper has become 'not for me'. If a company declares bankruptcy, you are SOL. You get nothing. Check out whose name is listed as custodian of your 401k or other retirement account(s) that are via an employer or otherwise. Guarantee that your name is listed second. I just think that people in the US need to spend less time watching American Idol and more time watching what is happening to people in the financial system in every other country in the world. If you spend the time doing that, and still feel that all your life's work and savings are super duper safe in our financial system, well then I hope that works out.
__________________
Football cards: In before Panini destroyed the hobby.
nabzy28 is online now   Reply With Quote
Old 06-23-2013, 06:22 PM   #9 (permalink)
Approved Group Break Host
 
jlzinck's Avatar
 
Join Date: Dec 2008
Location: Cape Cod, MA
Posts: 18,269
Default

The gold and silver manipulators make the Jordan/90's insert manipulators look like pre-schoolers
__________________
Thin skinned megalomaniacs shouldn't post on message boards.

http://www.ustream.tv/channel/jon-s-box-breaks-and-more
jlzinck is offline   Reply With Quote
Old 06-23-2013, 08:28 PM   #10 (permalink)
Member
 
Join Date: Feb 2009
Posts: 8,476
Default

Both are still overvalued, at least 2-fold higher than they should be. Finally, we are close to a rise in interest rates and a reasonable inflationary value; in turn the hedge commodities will recede.
__________________
"All I wanted was a Pepsi and she wouldn't give it to me."
fullmetal is offline   Reply With Quote
Old 06-23-2013, 11:40 PM   #11 (permalink)
Member
 
Join Date: Jan 2013
Posts: 517
Default

Buying silver is a long term investment and not for the flippers looking to make a quick buck. I just got into silver about six months ago and have been learning alot from several old coin guys of what to buy and not to buy. Gold and silver will probably go down more but you can't panic and sell out. Gols and Silver is the world's money and no matter what happens it's still wanted anywhere you go in the world. I try to focus on the Morgans and Silver Eagles because if something happens and I need the money I will be able to sell them fast becuase of their popularity and get most of money back.
Braves_Fan is offline   Reply With Quote
Old 06-24-2013, 12:28 AM   #12 (permalink)
Member
 
Join Date: Feb 2009
Posts: 8,476
Default

Quote:
Originally Posted by Braves_Fan View Post
Buying silver is a long term investment and not for the flippers looking to make a quick buck. I just got into silver about six months ago and have been learning alot from several old coin guys of what to buy and not to buy. Gold and silver will probably go down more but you can't panic and sell out. Gols and Silver is the world's money and no matter what happens it's still wanted anywhere you go in the world. I try to focus on the Morgans and Silver Eagles because if something happens and I need the money I will be able to sell them fast becuase of their popularity and get most of money back.
I would offer the exact opposite. If you have the capital and the time to short term metals then it is possible to make money. In the long haul precious metals do not provide much of a return, barely beating inflation. I had a nice graph comparing metals, stocks, bonds, CDs, interest checking accounts over 100+ years that shows how lousy metals are. Great short term hedge (can't stress SHORT term enough), but poor long term return. Even the most recent run-up by gold barely beat my stock holding returns and it did so with much less volatility.

I'm referring purely to spot silver, not collectibles. Collectibles can buck the trend. My wife's family are major players in the metals/coin world. My father-in-law organizes one of the largest shows in the US and is constantly wheeling/dealing the stuff. Unlike stocks, metal isn't going to produce future profits.

Little money can be made in increments on the coattails of the big players. So, don't think you can't make money. Following the trend will make you money, just much less than those who created the trend and only if you are not greedy. The greedy will hold too long and miss the boat.
__________________
"All I wanted was a Pepsi and she wouldn't give it to me."

Last edited by fullmetal; 06-24-2013 at 12:34 AM.
fullmetal is offline   Reply With Quote
Old 06-24-2013, 01:10 AM   #13 (permalink)
Member
 
Join Date: Jan 2013
Posts: 517
Default

Quote:
Originally Posted by fullmetal View Post
I would offer the exact opposite. If you have the capital and the time to short term metals then it is possible to make money. In the long haul precious metals do not provide much of a return, barely beating inflation. I had a nice graph comparing metals, stocks, bonds, CDs, interest checking accounts over 100+ years that shows how lousy metals are. Great short term hedge (can't stress SHORT term enough), but poor long term return. Even the most recent run-up by gold barely beat my stock holding returns and it did so with much less volatility.

I'm referring purely to spot silver, not collectibles. Collectibles can buck the trend. My wife's family are major players in the metals/coin world. My father-in-law organizes one of the largest shows in the US and is constantly wheeling/dealing the stuff. Unlike stocks, metal isn't going to produce future profits.

Little money can be made in increments on the coattails of the big players. So, don't think you can't make money. Following the trend will make you money, just much less than those who created the trend and only if you are not greedy. The greedy will hold too long and miss the boat.
You can only make money on silver now if someone is dumping it to you and needs the money. Most people are wanting over spot for their silver and not selling til it goes back up. I placed an ad on craigslist and here but I have had to give over spot to get anything. I can't sell right now and make anything til the price goes back up which experts who know the market predict a possible $50 an oz but noone knows when that will be. Your father-in-law is in a very fortunate position to be able to buy and sell I envy him and would love to have that kind of access to other collectors to buy low from and resell. The bottom line is the whole market is manipulated and yes I agree you have to sell when it's high and not get greedy wanting more. It takes money to make money!
Braves_Fan is offline   Reply With Quote
Old 06-24-2013, 10:38 AM   #14 (permalink)
Banned
 
Join Date: Mar 2011
Posts: 12,478
Default

Quote:
Originally Posted by fullmetal View Post
I would offer the exact opposite. If you have the capital and the time to short term metals then it is possible to make money. In the long haul precious metals do not provide much of a return, barely beating inflation. I had a nice graph comparing metals, stocks, bonds, CDs, interest checking accounts over 100+ years that shows how lousy metals are. Great short term hedge (can't stress SHORT term enough), but poor long term return. Even the most recent run-up by gold barely beat my stock holding returns and it did so with much less volatility.

I'm referring purely to spot silver, not collectibles. Collectibles can buck the trend. My wife's family are major players in the metals/coin world. My father-in-law organizes one of the largest shows in the US and is constantly wheeling/dealing the stuff. Unlike stocks, metal isn't going to produce future profits.

Little money can be made in increments on the coattails of the big players. So, don't think you can't make money. Following the trend will make you money, just much less than those who created the trend and only if you are not greedy. The greedy will hold too long and miss the boat.
I totally agree. Inflation and comissions being made on selling silver keeps it from being an investment vehicle.

I wish that thread was still active in the off topic section where you had suggest a dim outlook on silver for the coming months and everyone betlittled you. Looks like your assumptions were more or less on par with current market conditions.
Orangejello727 is offline   Reply With Quote
Old 06-24-2013, 10:40 AM   #15 (permalink)
Banned
 
Join Date: Mar 2011
Posts: 12,478
Default

Quote:
Originally Posted by Braves_Fan View Post
You can only make money on silver now if someone is dumping it to you and needs the money. Most people are wanting over spot for their silver and not selling til it goes back up. I placed an ad on craigslist and here but I have had to give over spot to get anything. I can't sell right now and make anything til the price goes back up which experts who know the market predict a possible $50 an oz but noone knows when that will be. Your father-in-law is in a very fortunate position to be able to buy and sell I envy him and would love to have that kind of access to other collectors to buy low from and resell. The bottom line is the whole market is manipulated and yes I agree you have to sell when it's high and not get greedy wanting more. It takes money to make money!
There is nothing wrong with buying over spot to bring averages down. Lets say your averages are $30. Buying twice as much at $25 easily shaves your average pts down. Keep doing it till your average are low enough to sell for either profit or break even (if you're looking to bail).
Orangejello727 is offline   Reply With Quote
Old 06-24-2013, 11:08 AM   #16 (permalink)
Member
 
Join Date: Feb 2009
Posts: 8,476
Default

With the PBoC tightening the money supply, which hinders interbank lending we possibly will see even bigger drops as lending tightens in China and those seeking short-term money begin to purge precious metal holdings. Banks will begin to fight for deposits to increase cash holdings or else they will be stuck. Looks like the US a few years ago. Unfortunately, the US dollar is acting like the Yen making exports much more expensive.

US 10-note is rocketing today.
__________________
"All I wanted was a Pepsi and she wouldn't give it to me."

Last edited by fullmetal; 06-24-2013 at 11:10 AM.
fullmetal is offline   Reply With Quote
Old 06-24-2013, 11:16 AM   #17 (permalink)
Member
 
Join Date: Oct 2011
Posts: 1,685
Default

Where is a good place to buy silver coins? Especially when prices are down from what they were, you can't seem to go to the local jewelry or coin shop to buy coins because everyone else is buying them and the shops dont always want to sell this low.
nepatsfan12dt is online now   Reply With Quote
Old 06-24-2013, 02:39 PM   #18 (permalink)
Member
 
Join Date: Jan 2013
Posts: 517
Default

Quote:
Originally Posted by nepatsfan12dt View Post
Where is a good place to buy silver coins? Especially when prices are down from what they were, you can't seem to go to the local jewelry or coin shop to buy coins because everyone else is buying them and the shops dont always want to sell this low.
I have been going to a few pawn shops but they are charging 4-5 bucks premium over spot for an oz.
Braves_Fan is offline   Reply With Quote
Old 06-24-2013, 08:58 PM   #19 (permalink)
Approved Group Sub Host
 
smackvay's Avatar
 
Join Date: May 2012
Location: west virginia
Posts: 6,810
Default

Quote:
Originally Posted by nepatsfan12dt View Post
Where is a good place to buy silver coins? Especially when prices are down from what they were, you can't seem to go to the local jewelry or coin shop to buy coins because everyone else is buying them and the shops dont always want to sell this low.
check my bucket i have a wide assortment of everything
also have a huge stack of war nickels and 40% kennedys as well

In the price thing what i absolutely dont get it how the other day it dropped over a dollar? I just dont understand how that is possible? i know its a basic questions but i guess im just not getting it?
__________________
SUPERCOLLECTOR LOOKING FOR PAT WHITE CARDS
NEED SILVER? HAVE SILVER? PM ME EITHER WAYAS IVE GOT PLENTY OF PAYPAL TO PURCHASE YOUR SILVER
smackvay is offline   Reply With Quote
Old 06-24-2013, 10:38 PM   #20 (permalink)
Member
 
Join Date: Feb 2011
Posts: 907
Default

The reason it moved so much on Friday, is because while the US economy is still in the crapper, the European economy has already been flushed. And now news that China's housing market is turning into our housing market in 2008, and this is what happens. Also TPTB, can mainuplate the markets at will, with margin increases, and many more tactics.
I personally am holding off from buying any metals for the next 2 months at least. While most of my extra income will be going to traveling during the summer, even if I wasn't, I would rather save the cash up. We will be going lower in the short term. I think we will see $17, then the $15 mark. I think there will be major support in the $12 range. But would never be suprised to see it get hammered below $10
twoten01 is offline   Reply With Quote
Old 06-24-2013, 11:56 PM   #21 (permalink)
Member
 
mrchipz's Avatar
 
Join Date: Apr 2010
Location: Las Vegas
Posts: 1,366
Default

Quote:
Originally Posted by twoten01 View Post
The reason it moved so much on Friday, is because while the US economy is still in the crapper, the European economy has already been flushed. And now news that China's housing market is turning into our housing market in 2008, and this is what happens. Also TPTB, can mainuplate the markets at will, with margin increases, and many more tactics.
I personally am holding off from buying any metals for the next 2 months at least. While most of my extra income will be going to traveling during the summer, even if I wasn't, I would rather save the cash up. We will be going lower in the short term. I think we will see $17, then the $15 mark. I think there will be major support in the $12 range. But would never be suprised to see it get hammered below $10
I 100% agree with this statement and predict the exact same price point decline at the same increments. im still holding though but not a good time to buy. we will see sub $15oz levels trust me.
__________________
Walking Dead Comic Book Collector, Detroit Lions Fan , New York Yankees fan
Also an Audiophile..........
Currently Buying : Jeremy Kerley
Jeremy Kerley
Super Collector
mrchipz is offline   Reply With Quote
Old 06-25-2013, 03:06 AM   #22 (permalink)
Approved Group Sub Host
 
smackvay's Avatar
 
Join Date: May 2012
Location: west virginia
Posts: 6,810
Default

Quote:
Originally Posted by mrchipz View Post
I 100% agree with this statement and predict the exact same price point decline at the same increments. im still holding though but not a good time to buy. we will see sub $15oz levels trust me.
When do you see 15oz levels? like a time frame?(i understand you have know way to know exactly or if your right) i dont want someone to sell their house over a thought on a message board
__________________
SUPERCOLLECTOR LOOKING FOR PAT WHITE CARDS
NEED SILVER? HAVE SILVER? PM ME EITHER WAYAS IVE GOT PLENTY OF PAYPAL TO PURCHASE YOUR SILVER
smackvay is offline   Reply With Quote
Old 06-25-2013, 11:44 AM   #23 (permalink)
Member
 
GoJays's Avatar
 
Join Date: Feb 2011
Location: Ottawa, Ontario, Canada
Posts: 6,687
Default

Quote:
Originally Posted by mrchipz View Post
I 100% agree with this statement and predict the exact same price point decline at the same increments. im still holding though but not a good time to buy. we will see sub $15oz levels trust me.
I don't think we'll see sub-15 prices. I think we've reached the low point for silver, but I think it will hover around $18-20/oz for a while.

I just bought some silver yesterday, though, so I may be in a stage of wishful thinking .
__________________
I will leave my signature the same until the Toronto Maple Leafs win the Stanley Cup. In short, I will never change my signature.
GoJays is offline   Reply With Quote
Old 06-25-2013, 12:39 PM   #24 (permalink)
Member
 
Join Date: Feb 2011
Posts: 907
Default

I will bet any amount of $, that Silver will go below $15, and even below $10. And don't worry about buying for $20, as long as when you are ready to sell you sell for at least $21 or more. I have bought Silver for as low as $4.75 an oz, and as high as $48, as long as you dollar cost average, you will come out ahead in the long run.
twoten01 is offline   Reply With Quote
Old 06-25-2013, 06:07 PM   #25 (permalink)
Approved Group Sub Host
 
smackvay's Avatar
 
Join Date: May 2012
Location: west virginia
Posts: 6,810
Default

Quote:
Originally Posted by twoten01 View Post
I will bet any amount of $, that Silver will go below $15, and even below $10. And don't worry about buying for $20, as long as when you are ready to sell you sell for at least $21 or more. I have bought Silver for as low as $4.75 an oz, and as high as $48, as long as you dollar cost average, you will come out ahead in the long run.
so if you buy 100 ounces at 30 an ounce and 100 ounces at 20 an ounce you are saying that your actual cost is 25 an ounce as a whole? how does one keep up with the overall average? everything i buy i labe the bag of the total cost and if i sell one coin out of the bag i sell the whole bag
__________________
SUPERCOLLECTOR LOOKING FOR PAT WHITE CARDS
NEED SILVER? HAVE SILVER? PM ME EITHER WAYAS IVE GOT PLENTY OF PAYPAL TO PURCHASE YOUR SILVER
smackvay is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -4. The time now is 09:19 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO
Copyright 2013, Blowout Cards Inc.