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Future Silver Predictions? I'm nervous right now...
Submitted by Kat on Fri, 04/04/2008 - 23:06
Hi Everyone.. Just bought five Silver Eagles on Ebay a few minutes ago for the first time, at a cost of $21.00 each...Good move? What do y'all think it will go up to this year? I know it's a long investment...I just want to feel better about having put up money I could have spent on stocking up on food. » |
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just bought 20 silver eagles for 20.50 each.
Lady told me that 2008 coins carried a highrt premium so i bought 1995 coins.
Silver Eagles
That has been my experience as well at my local precious metals dealer ---- they have been charging a $2.00 premium for silver eagles, except for the current year's eagles, for which they charge a $3.00 premium per coin.
I'm still bewildered by all the grungy, dirty, scratched, and generally abused silver eagles that seem to be around ---- just what the HELL are people doing with these coins, to get them in such bad shape? It's especially odd, since these coins do not even circulate! But, as a long-time coin collecter, my instinctive habit is to not abuse them, and in general to not handle them directly at all. Apparently I am in the minority in that regard. But I have carried an old (19922) silver dollar in my pocket every day for the last 30 years, and even it is in better shape than some of these silver eagles!
There was a gun show
here last weekend. I bought 18 franklin half dollars for $8 each. Several weeks before even when spot was $21, I got 17 '64 Kennedy half dollars for about $6 each. The lady really didn't know what she had. Unfortunately since then, she's wised up. lol
We are self employed so when we get another check, I will be after some more. :)
www.urbannaturals.net
How do they confiscate
if they don't know where it is...if your gold and silver are not in a safety deposit box/bank somewhere, but in a hole in your backyard, how will they know?
Pre 1964?
Are the 1964 coins silver or only 1963 and earlier? Does anyone see a reason why the silver dollars would be better than dimes, quarters, or halves?
Thanks
Bob W., Naples, FL
Silver US coins
Minor correction ---- all US dimes, quarters and half-dollars dated 1964 and before are 90% silver. Those dimes and quarters dated 1965 and after are all copper-nickel. Half-dollars dated 1965 through 1969 are 40% silver, so still worth keeping. Those half-dollars dated 1971 and later (there were none minted in 1970 for circulation) are copper-nickel junk.
pre 64 are 90% silver.... if
pre 64 are 90% silver.... if you ever need to use them to barter how will you get change back for a small purchase.. good to have all denominations.
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
1964 and earlier....are 90% silver
... at least I sure hope so...I've ordered and still waiting for mine!!
from who did you order...
from who did you order... delivery times are getting longer.. sure sign of shortage!
as for me and my home, we shall worship the LORD
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Don't Forget Liberty Dollar
They are still in business my friends and doing just fine...
Deb
also..... 21.00 bucks for a
also..... 21.00 bucks for a silver eagle? you should be thrown in jail for THEFT! 2 years from now that will end up being the buy of
the century!!!!!
as for me and my home, we shall worship the LORD
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
KAT, just saw your email.
KAT,
just saw your email. I would try to buy as much as possible.. I think if a person can accumulate 1000 ounces, that would be good. if what I have been reading happens where silver will tade at par with gold because of a silver shortage, that means that right now if a person would have 1000 ounces of silver, X 1000.00 an ounce(GOLD AT 1000) you would have 1,000,000 in purchasing power..
now some people will pooh pooh the thought of 1000$ an ounce silver... they do not know the market.. they have not read Ted Butler, Isreal Friedman and Jason Hommel.and they do not know the silver market..for every 15K a person can invest- I think you will see a 1,000,000 return! this could be the once of a life time opportunity... try to buy Junk pre 1964 silver dimes, quarters, and halves.. and also try to get 100 to 200 silver eagles! I think with the coming horrible economic times if a family does not have silver, they are crazy! Also Kat... please read the following... www.investmentrarities.com
download ted butlers free book 61 pages... it will explain the manipulation that has made 1000$ silver possible. also butlerresearch.com all his articles for the last 10 years are there.. this is where I got my education on silver... take the 4 hours or so and get to know whats going on behind the scenes with silver.. once you understand you will see the opportunity.. ALSO CONGRATS ON YOUR SILVER EAGLE WINS ON EBAY!!! your bidding against me lol! keep it up and accumulate as much as possible.. I think you have until this October and then things are going to get rocky! get as much as you can as quickly as you can!
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
1:15 ratio
Can't remember where I read it, but I read that historically (as in Roman days), Silver vs. Gold has been a 1:15 ratio.
Meaning one ounce of gold was worth 15 ounces of silver.
At current prices, that would mean each ounce of silver would be worth $67.
Silver is being used in a number of ways now, and the price will only rise. I don't think that silver will be worth as much as gold, at least not any time soon.
"Always vote your principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost." -John Quincy Adams.
1:15 ratio
Yes, that ratio did hold in the late 18th century, when US coinage began, but there is nothing sacred or carved-in-stone about it. The gold:silver ratio has varied from around 1:10 in ancient times to almost 1:100 around ten years ago. While that ratio does roughly reflect the amount of gold in the earth's crust relative to silver, there is no reason to expect that ratio to be the "proper" one now or at any given time, any more than there should be a fixed ratio between the price of aluminum and the price of copper, or between coffee and tea --- it's all what the marketplace decides, and it can and will always fluctuate.
Precious Metals
Investing in precious medals is a long term Investment. Think of when your sixty.. Every 20 years or so there is a heavy correction and the precious metals go up followed by a bear market then another correction to real time inflationary adjusted prices. Buy what you can, stick it in the saftey deposit box and one day 30 years from now you'll be able to cash em in for 100 dollars an ounce. Stop worrying.
NEVER in a safety deposite
NEVER in a safety deposite box.. if there is a banking holliday declared how can you get your silver when you need it! NEVER PUT IT IN A SAFETY DEPOSITE BOX!
as for me and my home, we shall worship the LORD
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
"Safe Deposit Box"
There is no such thing as a "Safety" Deposit Box. One can't deposit safety!
(Sorry, just one of those linguistic pet peeves of mine. Like people saying "issues" when they really should be saying "problems").
Lear Financial
Not to plug a company or anything, but I've been getting a good price from Lear Financial (www.learcapital.com).
It's about 15% more for the bullion coins off the spot price for silver, and 5% more for gold.
I don't know if they still have stock though. I've noticed silver's price for bullion going up...it was about 12% more a few weeks ago.
Hope that helps!
"Always vote your principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost." -John Quincy Adams.
I know what you mean. I just
I know what you mean. I just got into learning about silver and other precious metals. When silver was high at $21-22/ounce is when I purchased 10 oz. of eagles. + premium. At first i was pissed off, but I came to a conclusion it was worth it. I collect copper pennies(< '81) and nickels too. Dark times are coming. Note, i am only 20 yrs old and very poor.
Every generation needs a new revolution.
- Thomas Jefferson
Yeah, I remember what it's
Yeah, I remember what it's like to be 20 and very poor. The trick is to always live below your means. You may see people driving fancy cars and living in big houses and wearing nice clothes, but just keep reminding yourself that many of them are living paycheck to paycheck. That's what this whole real estate crisis is exposing. People's mortgage rates are going up and they're no longer able to make the payments. Normally, you sell and buy something you can afford but not when you owe more on your house than you can afford. So, just make a life long habit of paying yourself first.
Exactly!!!! people are
Exactly!!!! people are buying more than they need!
as for me and my home, we shall worship the LORD
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
AT ONLY 20 YOU HAVE A GREAT
AT ONLY 20 YOU HAVE A GREAT HEADSTART.. keep it up!
as for me and my home, we shall worship the LORD
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
It's typical to second guess yourself
I do it all day long when trading.
Silver won't go to zero. And it is more than likely going up. Silver was limit up on Friday 4/4.
One important point...buy collector coins if you want to escape having your gold or silver confiscated.
This government can confiscate any gold or silver boullion or bars.
However, never in history has any government ever confiscated collector coins.
http://eldoradogold.net/html/special_offering.html
Gold Francs are fractional currency. Highly negotiable, they contain .1867 Troy ounce of fine gold. The diameter is the size of a U.S. Nickel and the approximate thickness of a U.S. Dime. We typically deliver coins which are at least one hundred years old and usually are about 125 to 150 years old. They come in extra-fine condition which means everything is bold and clear on these golden antiques.
While these coins may be obtained very close to their melt value and held for their bullion value, they are considered to be "coins of special collector interest." This makes them private when you buy and when you sell. (Unlike modern foreign monetary bullion which requires meddlesome IRS reporting at liquidation.)
Some reasons to acquire these antique gold francs now...
They will protect your wealth.
They are private.
They are non-reportable.
They are non-confiscatable*
They are genuine antiques being over 100 years old.
They are a great legacy, truly a meaningful way to pass wealth to your heirs.
They are historic. These coins have been secreted away on the European continent since the times of Napoleon Bonaparte. They have survived in the proximity of the battlefields of two World Wars, and kept many families out of harm's way during numerous European political and economic upheavals over the last 125 plus years.
* Franz Pick, an economic historian, had this to say about gold bullion confiscation in the U.S.:
"I am afraid that one day the government will indeed call gold in. Gold bullion will be subject to government confiscation.
"This is the one big advantage to numismatic gold (Ed. Note: "coins of special collector value") ...It is an idiosyncrasy of governments that although they may prohibit ownership of gold in any form, they are reluctant to touch collections of numismatic gold...
"Today, there are some 49 countries which forbid ownership of gold by their citizens, but they do allow holding gold coins for numismatic purposes. Even the former Soviet Union and Eastern European countries tolerated the acquisition of numismatic gold coins. So these are the only holdings that could be in your safety deposit box without fear of confiscation."
"PunJab! Bring me my checkbook!"
"GINO" = Government In Name Only
Most people don't put things in safety deposit boxes
these days. And, as I understand it, only 20% of Americans turned in their gold when told to do so anyway. I would suspect even less would do so today.
I would rather buy all the metal I can (by not paying a premium for a "collectable") and find a nice spot to hide it in like my great-grandparents did during the last depression.
If you are a "newbie" with only a few thousand (or less) to spend, I recommend sticking with bullion and staying away from numismatics.
But then, it's only my opinion. Take it for what it's worth.
___________
Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
See my new post titled Jim
See my new post titled Jim Sinclair A Real Gold Bug.
As gold goes so will Silver.
Good price at $21.
"You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning." --Andrew Jackson,
1828
“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams
Relax Kat
You did good.If you didn't have any silver,you would be worried
about not having any,right?
You're right...
But I guess I do have alot of silver in a sense...my husband has a huge collection of morgan silvers that he just showed me last week...He collected them as a kid...I never knew they existed in this house! He' s a pack rat and I NEVER go into his closet...
I also have about thirty years of uncirculated proof sets and my prize possession of a 1847 $5 gold piece in XF condition...that was left to me by my grandfather..
But....
This was MY first purchase though...and I kept hyperventilating through the process not sure if the price was right...Not sure if the money should be spent on food or metal...I kept the debate going through my head before I confirmed my bid...
And thanks to everyone here at DP..I'll sleep better tonight.
When you make
a decision - don't second guess and stop living in "scarcity".
Regardless of what pay today - it will be worth it. Purchases/investments in silver and gold - for now - should be long term investments.
People who purchased for $2.50 are cashing in - see how it works?
Not sure I'd have cashed in for flat money, but who knows. Depends on their age and what they want to use the money for.
One never knows
As I understand it, as soon as the price dropped a couple of weeks ago, lots of people began to try to get more. I wanted to pick up a bit more while the price was down and assumed that things would have sorted out in a week or so, but that was not the case. Most wholesale brokers had purchased lots of sliver at the high end before it dropped, so they have been holding out and selling small quantites of it and only at a premium over spot. Remember most smaller coin dealers cannot afford to keep lots of bullion in stock because of the low markup and especially because situations like this would break them if they did. At my local shop the spread was normal, but everything was higher than normal: U.S. 90% junk silver (my typical preference) was at 3% over spot, Prospectors at + $1.75, and Eagles at + $2.75 - so as the other poster said, your price seems reasonable. Remember that you buy metals as an inflation hedge not as a get rich quick scheme. In any case, in the long run, you will not make big gains or losses on 5 eagles.
I think a realistic number
I think a realistic number for silver this year is 30.00 an ounce by the end of the year. The longer the price is supressed the higher the silver will eventually go. We all know silver should be about 55-60 an ounce right now 21.00 is a decent price on eagles. The market will fluctuate if you are thinking short term (months) PM's aren't for you. If you are thinking at least 2-3 years PM's are a smart move. Don't day trade, look for the long term reward. We aren't even half way through the PM Bull market. Don't sweat 5 ounces, I recently bought much more than that, and feel really good about it.