Posted on 03/02/2006 7:12:11 PM PST by Atlas Sneezed
The prospect of further rises in interest rates in the eurozone unnerved both equity and bond markets on Thursday.
...
The price of silver rose to a fresh 22-year high above $10 an ounce amid expectations that a silver exchange-traded fund would soon receive US regulatory approval.
I see this. Just posted. Thank you/ bttt
fyi/firmly in the $13's
I wasn't paying attention back in the 80's - tho I remember getting a good price for silver dollars.
What I've been reading - at some point the party is over - the dealers do not want to buy any more, as they quickly become tapped out (cash wise) because prices are rising so quickly. The refiners are backed up with everyone's silverware, so they don't want anymore. Dealers end up paying less than spot, as they don't want to necessarily be "long" on something that may decline by the time they can unload it to the refiners. But, that was 1980. I doubt there is much silverware in the average family today.
Actually, the dealers did get a bit tapped out, but we did get our checks from the refineries on time and as usual. There were days a few days back once or twice I remember -when silver was going past $40 an ounce and on to $54-where I had lines out the door and down the sidewalk with folks wanting to buy and sell silver coins, bars, gold coins, silver flatware, platinum sheeting from steering columns of ships, all kinds of metal was being bought and sold back then.
The refiners are backed up with everyone's silverware, so they don't want anymore.
Actually no. The refiners now are very much into buying and refining. I was at one of my friends coin businesses just last week and with us being very close friends, I went with him back into his walk in vault. He had two pallets with about 80 silver bars/ he smelts the silver he buys and these 80 or so, 1000 oz bars of .999 silver - had already been confirmed out/sold to a refinery (since he had the price locked in, he had a day or so to get them shipped).
Dealers end up paying less than spot, as they don't want to necessarily be "long" on something that may decline by the time they can unload it to the refiners.
No, I'm sorry to differ with you again, but dealers don't worry about being long on silver or any metals. When I felt it was a good time to call my refiner back then, I simply made the call, confirmed out how many thousands of ounces of silver I wanted to ship - and that locked in the price. This is still exactly what goes on now, ie. the above dealer with his 80 or so 1000 oz bars that particular week. It was no big deal back in the early '80's and it's no big deal now. (I was paying out everything I had but I was in a unique situation; someone in my family was/is a medical doctor and floated me all the money I needed. Again, I was very lucky, but also, in those times, with silver spiraling up [the way it is now]-there was no concern about losing any monies.
Also, it was and is not the average joe on the street who buys/sells his silver that determines if silver is going to stop going up/or down.
But, that was 1980. I doubt there is much silverware in the average family today.
Again, not to worry, the coin dealers nationwide are I'm sure, selling lots of silver and will have no problem buying back silver bullion and U. S. gold Eagles, Canadian gold Mapleleafs; Mexican gold 50 pesos pieces, etc.
Funny! Let us tell the readers what you mean here and the irony involved here.
One (1) junk bag of silver = one (1) thousand dollar bag of coins be they half dollar, quarters or dimes - with all these $1000 worth of coins - in a bag, being pre-1964 U S coins. Back then, 90% pure silver was mixed with alloys to make the quarters/ coins hard-for general circulation.
Now adays, our U S quarter for example is a combination of non-precious metals worth about 2 cents. Hence, the irony.
And btw, I just now called my friend the coin dealer, and one (1) $1000 bag of U S pre-silver coins is selling for:
$9,400
From my years in the coin business I can't quite remember how many pure ounces of silver is in a bag of $1000 pre-64 coins, but without checking I believe it is 715 troy ounces of pure per $1000 dollars in coins.
And btw, I just now called my friend the coin dealer, and one (1) $1000 bag of U S pre-1964 silver coins is selling for: $9,400
(with silver now at $13.26 per oz/ 12:10pm/ 4/17/06)
Yikes!
Gold now up $18.95!!!
Good Lordy/ Go Gold Go! And now silver has jetted to a high of #13.42! Go Silver Go!
Criminy it's climbing fast. And people are going on and on about gold when silver has more than tripled in the last 3 years.
Yes and there are folks who will buy gold at this level and it's a good buy, but as you and I agree, silver has been and will out perform gold. At least that's what has been going lately. / bttt
I found my receipt, and it was for $4 oz. Very nice. I'm watching all of this stuff with interest. Wish I knew more about SELLING it when I'm ready...
I don't know what that headline is about. All the silver stocks I watch did well today, as far as I know. SSRI, PAAS, SLW, ABMBF, ASGMF, CDE, ECUSXF, EDRGF, GPRLF, MGN, QURAF, all of them were ahead today, and all of them have done very well over the past year.
The Russell 2000 has done incredible, as have the other indexes, however the only ones pushing stock indexes will continue being very bullish are the stock brokers.
With the energies and the metals soaring off the charts the logical conclusion is short the indexes and the USD.
When fund money begins pouring into gold and oil stocks suffer.
Inflation is out there like a roaring lion, and the war with Iran hasn't even started, not to mention this coming hurricane season.
Happy motoring!
I'll be more than happy to take it off your hands.
Of course, I can only pay 3 dollars under spot because of my time and trouble and all the re-packaging fees, etc.
Up another 20+ cents to 13.65
Waiting for Hong Kong to open... getting a bit nervous, we're liable to see one hell of a correction...
That would be ok, I'd like to get a bit more silver if it dips back into the twelves.
bttt
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