UnderGround Forums
 

SurvivalGround >> Price of Silver.


3/24/11 11:39 PM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30322
Been buying junk silver, it's the only thing I can find. My 11 year old son bought $400 worth! I was like dayum, when did you get that cash. I told him he has more real money than almost any kid in his school.
3/25/11 12:27 AM
Ignore | Quote | Vote Down | Vote Up
RoidsGracie
Send Private Message Add Comment To Profile

Member Since: 2/23/11
Posts: 64
 So there could be a situation in the future where we will be paying for groceries with silver? Scary...
3/25/11 12:42 AM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30324
RoidsGracie -  So there could be a situation in the future where we will be paying for groceries with silver? Scary...


I doubt we ever will be buying with silver, it will always be dollars or the new currency IMO.
3/25/11 10:01 AM
Ignore | Quote | Vote Down | Vote Up
AG_bull
17 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/22/11
Posts: 8
The dollar is on the way out, there will be a currency crisis and a default of the dollar.

look at Argentina as a model for how things could play out. Will it be Mad Max/end of the world kind of scenario? not really.

It will be completely different from how we are used to seeing it, there will be a transition period where supplies wont be available and stuff that is will be wildly overpriced (6months-2years).

Things will stabilize over time. People holding PM will maintain purchasing power (and if you time the wealth cycle properly gain).
3/25/11 3:12 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7063
http://seekingalpha.com/article/260150-silver-buying-opportunity-emerging?source=yahoo

Read that. Great fucking article. 
3/25/11 3:54 PM
Ignore | Quote | Vote Down | Vote Up
jaywill
14 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 2/25/09
Posts: 214
 dont mean to fuel the fire but, according to us geological survey , silver may be depleted by 2020. no big deal.
3/25/11 10:29 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7091
jaywill -  dont mean to fuel the fire but, according to us geological survey , silver may be depleted by 2020. no big deal.

 Post the link.
3/26/11 1:13 AM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30335
I read that too, I think they were talking about easily extracted silver. The earths crust will never run out of silver. If the price of silver goes up it becomes economically feasible to mine these marginal mines.

Still the price can only go up unless silver is outlawed or something weird.
3/26/11 10:56 AM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7111
 We may not be buying with physical silver, though that is happening all over the country right now, with more than 136 towns or "areas" using some from of their own stamped currency.  But we will be buying with PM backed currency, I believe.  I also believe the we will soon see coins minted once again with real PM inside.  The dollar collapse is not a fantasy in the heads of the paraniod.  The wheels are already turning.  It's only a matter of time.
3/26/11 2:20 PM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30359
MoreThanUFC -  We may not be buying with physical silver, though that is happening all over the country right now, with more than 136 towns or "areas" using some from of their own stamped currency.  But we will be buying with PM backed currency, I believe.  I also believe the we will soon see coins minted once again with real PM inside.  The dollar collapse is not a fantasy in the heads of the paraniod.  The wheels are already turning.  It's only a matter of time.


I doubt new coins will have much PMs inside. I predict new coin and notes will have only a fraction of PM backing or content. Maybe a few grams of silver per coin and a few grams of gold per $100 note. Too many dollars, too little metal.
3/26/11 2:21 PM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30360
If the coins are pure they will be bought by other countries and melted.
3/26/11 3:32 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7125
 Sorry, kanotoa.  I didnt make that clear. I dont think coins will be 100% at all. More like the platinum in catalytic converter type quantity.  Just enough silver to ensure it is not fiat.
3/26/11 3:59 PM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30368
MoreThanUFC -  Sorry, kanotoa.  I didnt make that clear. I dont think coins will be 100% at all. More like the platinum in catalytic converter type quantity.  Just enough silver to ensure it is not fiat.


I agree, and I should have given you the benefit of the doubt.

The only thing I can see is outlawing PMs and the Governments requiring everyone to turn them in by a certain date. Most people don't own PMs so the public won't care. PM holders will be branded as hoarders and responsible for the USD decline.
3/26/11 7:38 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7146
 Interesting you should say that. I got an email from an over the top prepper that I met on another site.  As you may know, I keep a lot of my silver on the Nucleo exchange for easy selling if I should so decide.  I hold about half there, half in a safety dep box.  Anyway, the email said to pull my silver off the exchange, that the Gov may soon shut down the Nucleo.  Hmmmm?
4/1/11 10:34 AM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7475

ttt

4/1/11 11:22 AM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30415
Damn, I was hoping for a pull back. I might have to buy again at these high prices. I am hoping to make another buy and flip it in a few years. I was thinking of buying a car but I figure just put that money in silver and in a few years there is a good chance the car will be free if silver doubles. My old car will last another 5-10 years so I have time.

I'll TTT this a few years from now.

4/1/11 11:27 AM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30416
On a side note are any of you buying nickels? I think they may be the new junk silver because the face value is bellow the melt value, not that I'd ever melt them. I think they may go up if inflation sets in and they debase the nickel which I think they soon will.

Nickels are 25% nickle and 75% copper if you didn't already know this. As of today they are worth 6.6 cents but I've seen them at almost 8.

http://www.coinflation.com/
4/1/11 3:46 PM
Ignore | Quote | Vote Down | Vote Up
AG_bull
17 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/22/11
Posts: 34
kanotoa - On a side note are any of you buying nickels? I think they may be the new junk silver because the face value is bellow the melt value, not that I'd ever melt them. I think they may go up if inflation sets in and they debase the nickel which I think they soon will.

Nickels are 25% nickle and 75% copper if you didn't already know this. As of today they are worth 6.6 cents but I've seen them at almost 8.

http://www.coinflation.com/


I dont know enough of other metals to jump into that realm but the little i do know:

Physical nickel would require ALOT of room to store so its not really feasible.

If you are talking about options trading the problem is these usually are traded in the multiples of the underlying physical. This me means in a short squeeze you cant actually take delivery and they will pay you out whatever they see fit ... so the price might spike and you only get 10%.

Also Gold and Silver are Precious metals that hold a special place, people always see them as Money when FRN become worthless. In that type of a situation nickle would be the same as any other commodity (wheat, oil, corn, steel) ... to be honest food/energy commodities would be better to hold i would think.

just my 2cents (or 5cents :D)
4/5/11 11:07 AM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7638
 Pushing $39 as I type.  If a budget deal is reached that is more than another CR, I think we might see a serious pullback to $33 or so.  I'm gonna sell my SLV ETF if we hit $40 and I start to hear of a deal.  Then I'll rebuy.  The physical silver is long term storage for me.
4/5/11 4:58 PM
Ignore | Quote | Vote Down | Vote Up
kanotoa
81 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 1/1/01
Posts: 30422
Great, looking for another buying opportunity
4/5/11 5:05 PM
Ignore | Quote | Vote Down | Vote Up
hagarules
Send Private Message Add Comment To Profile

Member Since: 12/31/06
Posts: 640
Heineken Man - That being said I am glad I put the little money I do have into silver.


Same here
4/5/11 5:10 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7644
Heineken Man - Speaking of physical long term storage... What is the best way to buy and store silver in bulk? I don't have any real money but a friend was asking about it. What dealers and vaults are easy to go through?

 If you want to buy and take delivery, stick to the big assayers:  Apmex, BullionDirect, Gainsville, etc.  If you want to buy physical, but not take delivery and have someone store it for you, imo the only choice is BullionDirects Nucleo exchange.  It is what I use.  Any questions about it I can answer.
Taking delivery will raise your spot, because of the shipping and insurance.  I wouldnt take delivery on under 100 oz at a time, or you are throwing money away on shipping.
4/6/11 12:21 AM
Ignore | Quote | Vote Down | Vote Up
AG_bull
17 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/22/11
Posts: 39
MoreThanUFC -  Pushing $39 as I type.  If a budget deal is reached that is more than another CR, I think we might see a serious pullback to $33 or so.  I'm gonna sell my SLV ETF if we hit $40 and I start to hear of a deal.  Then I'll rebuy.  The physical silver is long term storage for me.


A deal will be made at the last minute ... one side will cave.

Just think, nothing has fundamentally changed with the system. There is going to be a major deficit still ... a couple billion isn't going to make much of an impact.

i hardly think this will mean a 15% pull back to $33, currently silver is on the verge of breaking $40 which will probably bring some resistance but i figure we will bounce around $40 (+/- $3) for the next 3 months.
4/6/11 12:50 AM
Ignore | Quote | Vote Down | Vote Up
hagarules
Send Private Message Add Comment To Profile

Member Since: 12/31/06
Posts: 642
AG_bull - 
MoreThanUFC -  Pushing $39 as I type.  If a budget deal is reached that is more than another CR, I think we might see a serious pullback to $33 or so.  I'm gonna sell my SLV ETF if we hit $40 and I start to hear of a deal.  Then I'll rebuy.  The physical silver is long term storage for me.


A deal will be made at the last minute ... one side will cave.

Just think, nothing has fundamentally changed with the system. There is going to be a major deficit still ... a couple billion isn't going to make much of an impact.

i hardly think this will mean a 15% pull back to $33, currently silver is on the verge of breaking $40 which will probably bring some resistance but i figure we will bounce around $40 (+/- $3) for the next 3 months.


I agree
4/6/11 11:33 AM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 7686
 We shall see.

Reply Post

You must log in to post a reply. Click here to login.