Silver set for a jump ?

Discussion in 'Financial Cents' started by TnAndy, Feb 23, 2012.


  1. TnAndy

    TnAndy Senior Member Founding Member

    Silver has been languishing in the low-mid 30 range for months now.

    Looking back on the sales of JUST silver eagles, and not counting generic rounds, bars, etc sold for investment purposes, and totally disregarding industrial use, where would the picture of US Eagle sales tell you silver is going ?

    2002 - 10,539,026 Bullion American Silver Eagles were sold.

    2003 - 8,495,008

    2004 - 8,882,754

    2005 - 8,891,025

    2006 - 10,676,522

    2007 - 9,028,036

    2008 - 20,583,000

    2009 - 30,459,000

    2010 - 34,700,000

    2011 - 39,868,500 (and the first year in which official coin sales surpassed domestic silver production)

    2012 - One month into this year, sale are at 5,547,000......meaning yearly total could easily hit 60,000,000 if this pace continues.....nearly twice the entire mine output of the US.

    And this is JUST US Silver Eagles, remember.

    How much longer can they hold silver at 34 bucks ?
     
    Guit_fishN likes this.
  2. TheEconomist

    TheEconomist Creighton Bluejay Site Supporter+

    I don't know.

    I have been watching silver very closely and believe that if you see at at $31 or below you should but. However I don't know about a jump past $40 in the short run (2 years).

    Also, it is important to note that Silver should not be a longer term investment solution. The market has proven to be too volitile over the years.
     
  3. melbo

    melbo Hunter Gatherer Administrator Founding Member

    I'm all in long.

    Not so sure about volitile as I bought in at ~$6/oz and have bought all the way up.
    pretty glad I stayed in and didn't jump out at $8, $10, $15, $20, $25, etc.
     
    Gator 45/70 and TheEconomist like this.
  4. TheEconomist

    TheEconomist Creighton Bluejay Site Supporter+

    look longer term
     
  5. TnAndy

    TnAndy Senior Member Founding Member


    I'd disagree. Given the stats on world use, (up) and the continued mine supply (down), my guess is long term ( 5-10 yrs) we're looking at 100 buck silver, easy.....and could well shoot past that.
     
    Guit_fishN likes this.
  6. CATO

    CATO Monkey+++

    I study graphs for a living. I wouldn't call silver's historical charts as volatile.
    ag.
     
    Gator 45/70 likes this.
  7. Gator 45/70

    Gator 45/70 Monkey+++

    I buy into oilwells and pipeline's or ''Black Gold''...
     
  8. CATO

    CATO Monkey+++

    Volatility is the relative rate at which the price of a security moves up and down. Volatility is found by calculating the annualized standard deviation of daily change in price. If the price of a stock moves up and down rapidly over short time periods, it has high volatility. If the price almost never changes, it has low volatility.
     
  9. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Dollar Cost averaging. It works for lots of things.
     
  10. melbo

    melbo Hunter Gatherer Administrator Founding Member

    y'all are gonna turn blue when you have to eat silver to stay alive...
     
    pcw907, oldawg, VisuTrac and 3 others like this.
  11. fedorthedog

    fedorthedog Monkey++

    I buy a couple rounds a month. Went to get some yesterday and he was sold out of everything but dimes and collectible coins.
     
  12. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    It use to be that you could get a decent deal on ebay. Right around spot even including shipping. Those days seem to be gone. Hell they are going 5 over spot on round and then add shipping on top unless you are buying 10 oz or more.

    Peeps are bidding it up beyond reasonable on there.
     
  13. groovy mike

    groovy mike Immortal

    First let me say that everyone's situation is different, so make your own call. Here is mine. I ALMOST bought silver today, but then I noticed that I used the last of the mouthwash and floss last night. A little more looking showed I was down to a half bottle of hydrogen peroxide too. The connection may not be obvious, but my philosophy is that precious metal investments only make sense AFTER things you actually will use are on hand. You may not be able to swap your silver for food if food is scarce. But if you have actual food, you can eat it. The same holds true for medical supplies and I consider good hygiene preventive medicine. SO - instead of picking up $100 worth of silver this afternoon and holding in in the speculation that I can sell it for a gain later or barter it post SHTF as I intended to do. I will now go to the pharmacy and stock up on peroxide, floss, and mouth wash and call it $100 to prevent a post SHTF oral infection and 3rd world style tooth extraction, etc. I think that is money better spent.
     
    larryinalabama likes this.
  14. fedorthedog

    fedorthedog Monkey++

    I fund my silver purchases from money left over at the end of the month. We use a cash in the envelope system for day to day expenses gas, milk ect. Whats left over buys silver. My preps are budgeted into the beginning of the month expenditures.
     
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