POS/Price of silver... Update

[THEFAN]

I have been buying up Walking Liberty halves. If you buy them large enough bulk you can get them below spot value.

I for one think we will see 60 an oz by the end of the yr or sooner. As long as oil goes goes up. Metals will too.

Good luck everyone

 

[k0xxx]

I bet hubby gold would be $1500 or higher by June. He thought I was nuts. Now he still thinks I am nuts, but is starting to pay really close attention to prices

Well WZ, your prediction came true. When I checked a little while ago, gold was at $1503.70 and silver had hit $44.99. If the dollar keeps trending downward as it has been (and I can't see it NOT doing so), we should see the metals making even greater gains. That's great for our little piles of metal, but it sucks for the US as a whole. Bad times are coming.

 

[Wifezilla]

Yes...bad times are coming, but I won the bet. Now hubby owes me a dollar. I will tell him I will only accept real silver coins as payment. Bwaa haa haa!!!!

 

[MetalSmitten]

i make silver jewelry as my only source of income, and this is kiiiiilling me =/

 

[Wifezilla]

OMG I can only imagine!

 

[k0xxx]

i make silver jewelry as my only source of income, and this is kiiiiilling me =/

I can believe it. I started collecting silver and 10K gold with the intent of casting a chess set. One side in silver and the opposing side in gold. I have enough silver. but only about half the gold needed. It's gotten too expensive to continue (at least for me). I have a buyer lined up to purchase my molds later this week.

 

[lighthawk]

The market closed with silver at $45.23. Ten dollars above the price when I started this thread.
Gold at $1502.00
WZ... that "real" dollar (a morgan) will cost hubby $34.96. If he can find it at that price, Silver eagles are selling around $50.00. Now you need to bet him we will see $3000.00 by the end of the year. This time bet him a new car.
k0xxx... Your absolutely right bad times are comin', really BAD times. Sorry that chess set ain't going to happen. Sounds like a family keepsake. The bright side... your property taxes will be covered with one ounce of silver sooner than we think.

MetalSmitten... I am sorry about your situation but I think maybe you should do whatever you can to stock up now, by all estimates we could see $100.00 an ounce by years end. IMO That makes it seem pretty cheap at this price

My opinion only.... Not investment advice.

 

[Wifezilla]

I'll let him pay me in pre-1965 dimes

 

[MetalSmitten]

when i started silversmithing, which wasn't THAT long ago (7 years? i forget), i remember complaining when it hit $7/oz.

and believe me, i do stock up when i'm able, i bought about 30oz last time at $33. sigh. that's about the max i can afford at any given time to spend on materials.

it always kind of cracks me up in a sad way, because the price of precious metals skyrockets any time people are worried about currency value, but, if their currency REALLY failed, it's not like you can eat silver or gold, or trade it to your neighbors for food. i mean, i know you can sell it when the price is high before currency is devalued, but what exactly would people do with stockpiled metals in times of genuine crisis? (asking seriously - i really don't know. of course, this isn't the situation at the moment so i understand stocking up now, but, hypothetically, what would you do with it if money were worthless in general?)

 

[Wifezilla]

The thing is you CAN trade it for food with your neighbor. I would not consider stocking up on metals the FIRST thing you do. First you get together a long term food stash and work on ways to produce more yourself.

I did that.

After I did what I could on the food front (converted most of the lawn to growing beds, learned to raise ducks and quail, stocked the freezer, put aside a years worth of dry goods, etc....) I started picking up silver when I could find it.

I also save all real copper pennies and nickles.