Varmint
NES Member
Gold blasting off too?
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Gold and silver prices are down
- Thread starter Rider
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Oddly similar... ![[smile]](/xen/styles/default/xenforo/smilies.vb/001.gif "Smile [smile]")
smokey-seven
NES Member
I was buying walking liberty 1/2 dollars for the last couple years. Whenever I saw them for less that $7.50 including any shipping/insurance, I bought them. I just priced them on JM and they are over 10.10 now and as high as 10.60. That's not a bad run up for a couple years.
I sold before the peak back then. Somehow, I missed that last $40.00 silver and did not sell. I though that it was a one way street. At $22.00+ today, I am holding. I don't know if I can hold on $35+ silver. That is a 400% over 11 years and I would love to step out as I did under the Hunts and buy right back in after the drop.
I wonder how the shorts are doing today?
I sold before the peak back then. Somehow, I missed that last $40.00 silver and did not sell. I though that it was a one way street. At $22.00+ today, I am holding. I don't know if I can hold on $35+ silver. That is a 400% over 11 years and I would love to step out as I did under the Hunts and buy right back in after the drop.
I wonder how the shorts are doing today?
I sold everything we had when it hit $40 last time , so missed the last 20% of the run up. Did very well though.
I've sold a little here and there to test the market, and luckily put all the profits (except for my daughter's 1st semester college payment) into gold. I will continue to hedge the rise every now and then, but not really interested in selling big chunks till at least $40ish again.
I've sold a little here and there to test the market, and luckily put all the profits (except for my daughter's 1st semester college payment) into gold. I will continue to hedge the rise every now and then, but not really interested in selling big chunks till at least $40ish again.
Varmint
NES Member
![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
Gold isn't that far off the all time high at this point.
I have a Johnson Matthey Hundo available for $2-3 over spot if anyone feels short on weight.
richc
NES Member
Ruh roh, @samandglove1 is selling. Time to liquidate your positions!
Either that or he saw a cool new gun that he wants to buy...
Either that or he saw a cool new gun that he wants to buy...
Win
NES Member
Short distance to historical high in US dollars but long way to run in terms historical purchasing power
In God We Trust
NES Member
If it hits $50 I will sell what I have and wait for it to fall agin before reinvesting. I bought most of my stash between $30-$35.
smokey-seven
NES Member
Lots of them here:
I keep explaining to newbies about the dollar vs silver when you consider you could buy a brand new in the showroom 1963 Impala SS convertible with all the bells and whistles for 3200 US Silver dollars. Those dollars are worth well more than $20 apiece today and if you plowed 1500 to 2K a year to keep that 63 car up to snuff, you would have invested an additional 85K, money out. I'll hold silver thanks and be 60K to the good side.
Here's a couple:
I keep explaining to newbies about the dollar vs silver when you consider you could buy a brand new in the showroom 1963 Impala SS convertible with all the bells and whistles for 3200 US Silver dollars. Those dollars are worth well more than $20 apiece today and if you plowed 1500 to 2K a year to keep that 63 car up to snuff, you would have invested an additional 85K, money out. I'll hold silver thanks and be 60K to the good side.
Here's a couple:
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Win
NES Member
Those are good charts. I generally consider this "purchasing power" of gold when I look at historic catalogues, home prices, etc. remembering that at that time (usually late 1800's I'm looking at) $20 was roughly an ounce of gold. Now other factors play in of course and this isn't an exact but it gives me a sense.
smokey-seven
NES Member
My grandad's paycheck in 1918, prior to the war was $17.20 a week. Extrapolate that number.
A little less than an ounce of gold per week. Around $1600.00
Varmint
NES Member
expecting a triple top at $50 silver? depends how soon we get to $50. I don't think the PM bull market will end until the Fed is disbanded. And maybe not after that.
In God We Trust
NES Member
Silver has been stagnant for so long even with all the FED shenanigans. I just don't have a lot of faith in a big run up anytime in the near future. What is your prediction?
Varmint
NES Member
Lots of them here:
I keep explaining to newbies about the dollar vs silver when you consider you could buy a brand new in the showroom 1963 Impala SS convertible with all the bells and whistles for 3200 US Silver dollars. Those dollars are worth well more than $20 apiece today and if you plowed 1500 to 2K a year to keep that 63 car up to snuff, you would have invested an additional 85K, money out. I'll hold silver thanks and be 60K to the good side.
Here's a couple:
View attachment 374599
View attachment 374600
Confused by this. Seems to mean that silver today has much greater purchasing power than in 1963. Maybe cause PMs were very undervalued then since the price was fixed. Or dollar overvalued.
Which makes sense, PM prices exploded in the 70s.
Varmint
NES Member
Not stagnant. It was $50 in 2011, dropped to $12, now almost double that, all in 9 years.
It's primarily an industrial metal but in crisis times the monetary aspect becomes more important. When gold is $2000, silver starts to look really cheap at $20. So it's really gold's rally that is dragging silver along for the ride. And you can see what happens once silver gets momentum.
smokey-seven
NES Member
Yea... I kick my ass for not selling then. I am Dollar cost averaged in at $8.00.
I've bought at $3.00, sold at $5.50.
I've bought at $7.00 sold at $9.00
I bought at $8.00 and am still holding. Should have bailed at $40.00 (Hunt brothers number revisted in 2011)
So what say you all? We passing $40 again?
I am looking forward to the Gold Silver Ratio dropping to 60. That is a no brainer.
My old rule of thumb was that if a product/item/material performed at 10% a year, it was a thing to buy. Double in 9 years, works for me.
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Ha. No I’m just going to move a big chunk and get my son something. All my big pieces are $16/oz and below, it’s already performed in roughly a year.
richc
NES Member
My son bought a boat this year but that's so in him.
You're a good Dad, Ash.
I’m glad somebody thinks so!!
Time for a thread title change
Win
NES Member
Varmint
NES Member
I'm already nostalgic for the $16 silver.
Me too. It was fun to buy a roll of silver eagles for $330 after Ebay bucks. Now it's like $600.
And mining stocks that were $1.50 are now $4. For a bargain shopper it's like shopping at Bass Pro.
richc
NES Member
Me too. It was fun to buy a roll of silver eagles for $330 after Ebay bucks. Now it's like $600.
And mining stocks that were $1.50 are now $4. For a bargain shopper it's like shopping at Bass Pro.
And that is the question. Are today's prices bargains, or too expensive???
The spot price is the spot price. But I'm a bargain hunter too, always trying to buy with the least amount of premium over spot. And that's just not possible now.
So I'll wait...
And it finished high and rallying......tomorrow I think we'll see more on the up side. Woohoo
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