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SurvivalGround >> Price of Silver.


10/31/11 10:34 AM
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MoreThanUFC
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From my FB:

As the dollar continues to gain "strength" against the rest of the world currencies ( I know, it is funny ) metals will fall. This may be the event, the popping of the Euro debt crisis, that sinks metals for a short while. Silver may not hit my target of $38 before falling. Well, FOMC on Wed will tell us what the next few months or so will happen to commodities; silver, gold, OJ, cocoa, and coffee in particular.
 
10/31/11 2:07 PM
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stinkman
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I have been watching the precious metals market for a while and have been waiting for the right time to get into some silver and gold. I probably already missed the boat on gold as it will probably continue to rise with only minor fluctuation drops.

As for silver i am still debating on where the best value lies (ie junk silver, rounds and bars, or minted coins) to make a large purchase when the price does drop.

Coins seem to be the safest bet with regards to resale and there are less issues with weight, purity, and forgeries but also cost the most over spot. Junk is the cheapest but seems to be the least desirable for resale later.

Have you had any problems getting rid of your rounds or bars when looking to offload them? How about the junk silver?
10/31/11 3:44 PM
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AG_bull
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stinkman - I have been watching the precious metals market for a while and have been waiting for the right time to get into some silver and gold. I probably already missed the boat on gold as it will probably continue to rise with only minor fluctuation drops.

As for silver i am still debating on where the best value lies (ie junk silver, rounds and bars, or minted coins) to make a large purchase when the price does drop.

Coins seem to be the safest bet with regards to resale and there are less issues with weight, purity, and forgeries but also cost the most over spot. Junk is the cheapest but seems to be the least desirable for resale later.

Have you had any problems getting rid of your rounds or bars when looking to offload them? How about the junk silver?


Sell silver? i dont understand what you mean :D

look at local craigslist postings, see what the asking price is currently VS spot. Some people are way out to lunch and trying to make a quick profit.

I personally feel the correct price should be in between spot but less than what the online shops are charging this way both buyer and seller get a deal. And alot depends on how fast you want to sell (and how much you have).

if you are going to go the generic rounds route you will have a harder time than with 1oz coins. Stay with better known generic stuff (englhard, johnson mathey, sunshine mint etc).
11/6/11 12:32 AM
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MoreThanUFC
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 With CME lowering initial margins to the level of maintenance margins on Mon, even though silver margins are still at record levels, I expect a nice gain in the paper market.  Look for a weekly gain of maybe $3? 
11/8/11 2:12 PM
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allchokedup
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do any of you have a 401k? i do but i am contemplating getting out of it and investing in silver. Am i an idiot? i dont have faith in the US dollar so..
11/8/11 3:39 PM
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frankenchrist
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allchokedup - do any of you have a 401k? i do but i am contemplating getting out of it and investing in silver. Am i an idiot? i dont have faith in the US dollar so..


thinking about doing the same thing with my ira. i keep telling myself to call scottrade, but i feel like an idiot cos i know nothing about this stuff.
11/8/11 4:02 PM
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allchokedup
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where are all these intelligent mofos? I just see the value of US dollar going down and not coming back. I would rather have silver in my safe under my control then some bank fucking it off.
i have read something about turning ira into investing in silver.
http://www.youtube.com/watch?v=zvdMFuz2wdM
11/9/11 11:41 AM
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allchokedup
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i have decided to keep 401k. just change the % and with the $ i dont put in there stock up on silver.
11/10/11 10:39 AM
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MoreThanUFC
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Edited: 11/10/11 10:38 AM
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 You can set up a physical gold and silver IRA.  APMEX has a program.  Just call them to set one up. 
11/10/11 10:41 AM
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MoreThanUFC
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Edited: 11/12/11 6:25 PM
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MoreThanUFC -  With CME lowering initial margins to the level of maintenance margins on Mon, even though silver margins are still at record levels, I expect a nice gain in the paper market.  Look for a weekly gain of maybe $3? 

 Fuck.  This euro mess is just pervading every corner of the market.  I cant find one finanacial "expert" online that has a clue why gold and silver aren't rocketing to the moon on the trainwreck that is the euro and the eurozone.

BTFD is all I can say. 


Edit:  I spoke too soon.  Silver is back up 0.62 as of 10:45 am. 

Edit again:  I think SLV is decoupling from silver contracts. iShares built in a $1.00 lag for management costs, but right now the spread is almost $3.  Something is wrong here. 
11/12/11 6:29 PM
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MoreThanUFC
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 If someone has the money.... there are two 10 oz gold bars up for sale on BullionDirect's Nucleo exchange at a total of $240 over... $17900 for each at a spot price of $17880.  Deals like that dont come around often.
11/17/11 11:44 AM
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MoreThanUFC
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It seems there’s a few mystery buyers in the gold market, and they have been snapping up bullion tons at a time.

These unknown purchasers are none other than central banks, with the official sector having swooped in to secure a net haul of almost 150 tons of the shiny yellow metal in the third quarter—almost seven times as much as was bought in the year-earlier period.

While a number of these banks have been named, having officially reported their gold buying activity to the International Monetary Fund, a significant proportion of the sum is yet to be attributed to specific countries, due to confidentiality reasons.

According to the World Gold Council, the official sector bought 148.4 metric tons in the third quarter. It is the highest level recorded since central banks became a net buyer of the precious metal in the second quarter of 2009, after two decades of net sales.

The WGC—an industry association representing 22 gold miners, including Barrick Gold Corp., Newmont Mining Corp. and AngloGold Ashanti—attributed 15 tons of the purchases to Russia, 14 tons to Bolivia and 25 tons to Thailand.

While it openly states that other major purchases have been made by a number of countries’ central banks, it said they “cannot currently be identified due to confidentiality restrictions.”

Gold traders and analysts have been stunned by the final figure provided for the quarter. Most say it was around 100 tons above what they had originally tallied.

Read the rest here:
 http://blogs.wsj.com/source/2011/11/17/yet-another-gold-rush/

11/18/11 1:02 AM
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stinkman
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allchokedup - i have decided to keep 401k. just change the % and with the $ i dont put in there stock up on silver.


I have been looking at all kinds of ways of getting my money out of banks and instead buying metals but I am having a hell of a time convincing my wife it is a good idea/investment. She thinks I am paranoid about the world markets potentially crashing but I think its inevitable. Maybe not tomorrow or next week, but surely some time down the road. The prices may fluctuate some but gold and silver have always had value throughout human history, and will always have value regardless of what happens with paper currencies. I just cant convince her that holding onto paper money, or keeping our savings in a bank is actually more of a gamble than buying the metals.

Anyone know of any websites or other suggestions that I can have her check out to help my cause that wont put her to sleep in the first 30 seconds?
11/19/11 10:20 PM
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MoreThanUFC
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Edited: 11/19/11 10:23 PM
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 Any of the National Inflation Association vids should wake her up.  Try Meltup and The Day the Dollar Died. 

http://inflation.us/videos.html 

Edit:  Man, just watch all of them.  End of Liberty is great as well.
11/22/11 1:22 PM
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MoreThanUFC
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 http://finance.yahoo.com/news/jp-morgan-buy-mf-global-144656247.html

Not sure if this is gonna help of not.  JPM has quietly been moving to a net long position in silver.  But it might just give them even more control over the price of silver, more than they already have.....
11/22/11 5:13 PM
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stinkman
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MoreThanUFC -  Any of the National Inflation Association vids should wake her up.  Try Meltup and The Day the Dollar Died. 

<a href="http://inflation.us/videos.html">http://inflation.us/videos.html</a> 

Edit:  Man, just watch all of them.  End of Liberty is great as well.


Thanks...this is good stuff.
11/22/11 6:20 PM
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MoreThanUFC
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 No problem, dude.  I enjoy spreading the word.
11/23/11 11:58 AM
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MoreThanUFC
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 Silver continues to fall, even as Goldcore admits there is a growing problem with 10 oz silver bar availability....

JPM has now moved all commodities, including gold and silver, to sell..... interesting in that they have been pushing commodities on clients, and they themselves have been buying up silver at an alarming rate.... typical JPM behavior.  Knock the product, drive down the price, buy it up, then push it like it's sliced bread.  BTFDs, 2012 is gonna be a great year for silver bugs.
11/25/11 6:20 PM
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MoreThanUFC
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 This is an artificial dip.  And as usual, is being oversold.  Expect a huge snapback.  I'm hoping for $28 to grab another $2000 worth.
12/12/11 12:21 AM
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gatorgar
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TTT
12/12/11 1:30 AM
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vegasdolphin
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MoreThanUFC -  This is an artificial dip.  And as usual, is being oversold.  Expect a huge snapback.  I'm hoping for $28 to grab another $2000 worth.

 Where do you see Silver going? Many are already saying the gold & silver run its pretty much done. 
12/24/11 5:52 AM
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hagarules
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ttt
12/28/11 7:31 AM
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MoreThanUFC
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ttt
12/28/11 8:20 AM
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qcddog03
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 so much for my $44 oz perdiction for the end of the year... o well I'll buy while its on sale
12/28/11 10:23 AM
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EasyTapper
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sub for iphone reading.

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