Coins/ Silver question

[basesareempty]

I follow this market a little more closely then some here. I have slowly bought silver over the last 3 years or so and have about 350 oz of silver bullion and another $400 of 90% junk silver. Late last week Silver went from just under $40/oz to where it ended today at just under $30. At some point I believe one of the overseas markets the price was down to $26/oz before rebounding. I know many experts say that silver will hit $50/oz by early next year. China and India have been stong buyers of precious metals which should keep prices going up. Also the industrial demand for silver is on the rise. I see this 25% downswing as a buying opportunity. I would hold on to your silver if I were you.

[z28jd]

Originally Posted by basesareempty

I follow this market a little more closely then some here. I have slowly bought silver over the last 3 years or so and have about 350 oz of silver bullion and another $400 of 90% junk silver. Late last week Silver went from just under $40/oz to where it ended today at just under $30. At some point I believe one of the overseas markets the price was down to $26/oz before rebounding. I know many experts say that silver will hit $50/oz by early next year. China and India have been stong buyers of precious metals which should keep prices going up. Also the industrial demand for silver is on the rise. I see this 25% downswing as a buying opportunity. I would hold on to your silver if I were you.

Thanks, I guess I will keep them for now but if I see the price go anywhere near $50 an ounce then I would have to sell. I guess I should start following the price of silver.

[barrysloate]

Bob- do you feel the same way about gold? It's taken quite a hit lately.

[basesareempty]

Barry- Since most of my purchases are small ( Usually under $400 at a time) I do not follow that as closely but I believe the so called "experts" are bullish on gold for many of the same reasons as silver, with many saying that $2000 gold is not out of the question.

[Tsaiko]

Here's an easy way to keep track of precious metal prices.
http://www.monex.com/liveprices

Silver spiked to over $48 an ounce in April, then this happened:
http://dont-tread-on.me/rumor-no-for...-silver-in-us/

That was the highest price since 1980, when the Hunt brothers tried to corner the market and the price actually hit over $50 for a few minutes.

In the early 90's I bought a lot of silver in the three to six dollar range and thought that I would make a quick buck, but it was stuck in that range for over a decade. I had my chance to pull the rigger this year, but let the opportunity slip away thinking that $50 was he magic number. Oh well, maybe next year.

My grandfather gave me a silver dollar for each birthday until I was 18. Most are dated around 1903, so he must have kept them for a while himself, which makes them as hard to get rid of as my grandmother's cards. I have no idea how much they are worth.

[z28jd]

Thanks for that link. I see it also has the 90% and 40% coin prices which is good because the collection also had 141 of the 40% Kennedy half dollars. For once I'd like to sell high on something and buy low on something else, especially since I don't really collect coins, I basically just have a collection of pennies missing just that key 1909 s vdb and some odds and ends that I liked such as 2 and 3 cent pieces.

[Leon]

Hey John
As I said, I know there are a few collectors on the board. Glad you are getting a little help from some good guys. I am sure there are quite a few more too but as Barry said yesterday, most times folks are too lazy (well, I am saying that) to simply click over here and see what is going on. They would rather just post in the wrong place. Oh well....at any rate good luck with your coins.

[bbcard1]

I usually get $100 travel reimbursement every couple of weeks. For the last couple of months, I have been buying a silver round each time...sometimes it costs 30, sometimes it's 40, maybe some day it will be 20 or 50. I just don't worry about it. I particularlly like the Australian coins. I do think, for the average person, holding 5 to 10% of their savings in precious metals or other hard assets (some would say stones, but I think that is nuts) is probably sensible. Physical, not paper, of course.

Over the past year, I bought a little gold and haven't done bad or great....bought at $1500...saw it go over $2000 briefly, then back to $1600. I think Platinum may be a decent play (at parity with gold but much rarer), silver is fun but will always be volatile. I would not be shocked to see $100 or $15 silver.

If CDs were still paying 6% of if the stock market was not an absolute crap shoot, I would have probably never even thought about metal...and still don't in a significant way. .

OTOH, if I was that smart, I'd be rich by now.

[barrysloate]

If CD's were paying 6%, most of America would be leaving the stock market. Volatility may be great for the day traders, but for the average American who is trying to build a nest egg for retirement, it really sucks.