Silver shines but equities decline (Silver breaks $10/ounce! 22-year high!)

Yahoo/Financial Times ^ | 3-2-06 | Dave Shellock

[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.

[ndt]

"O.k., was just wondering, thanks."

No problem.

I'm no fan of "conventional wisdom" either and I think we can find common ground in having less than an enthusiastic outlook on the future value of the dollar. To me metals as a hedge to that make perfect sense, but I view them as just that, a hedge, not a general investment.

[Sic Luceat Lux]

a hedge, not a general investment.

Here I agree. However, rare coins have always been the best investment ever. It's indisputable.

[ndt]

"are coins have always been the best investment ever."

Well if you happen to have a 1850 twenty-dollar Double Eagle I'll buy that.

You don't happen to work for Tom Noe do you?

Just curious, what was your single best return on a single coin, and over what timespan?

[Sic Luceat Lux]

Just curious, what was your single best return on a single coin, and over what timespan?

Have to think that over. I'll post again later and list some of the spectacular coins I've owned, held, then sold.
(and no, don't know of him)

[Sic Luceat Lux]

Since you said single best return, it was when I purchased an 1828 /8 over 7 - U. S. Half Eagle gold coin. Back then, I believe I paid $2700 for it and sold it within a month for about $3300. It was AU 59. (made more on other coins but that was a good profit for one month investment) That was back in 1980. That particular coin now - whoever owns it now -it's value now would be approx. $12000.00. -my guess, I'd have to check. (in fact, I think I'll inquire on Monday, you now have me wondering and curious lol.

[Sic Luceat Lux]

Opps, tired here, meant to post my #65 to you.

[Travis McGee]

bttt

[Sic Luceat Lux]

bttt

[Sic Luceat Lux]

Did you all see silver drop below the $10 mark this morning to $9.94; but by the end of the trading session, it was right back above $10 to $10.04. And the Asian market now shows silver rising / $10.08. Shows strong support for this $10 level.

[joanie-f]

Did you all see silver drop below the $10 mark this morning to $9.94; but by the end of the trading session, it was right back above $10 to $10.04. And the Asian market now shows silver rising / $10.08. Shows strong support for this $10 level.

Yes. As I wrote yesterday to a good friend, who was talking about the fact that my (and his) major gold holding is #9 on the IBD top 100 now, which is usually a sign that a stock has reached the top and is due for a correction:

No matter the vagaries of the POG, or the opinions of the ‘experts,’ I am convinced that, barring a dramatic change in the irresponsible course of our economy and monetary policy, and a decline in the nature and strength of the terrorism threat, there is no better place to invest than precious and base metals (and commodities in general). So, other than when I am suffering from the apparently sporadic temporary insanity that causes me to attempt to short-term trade my gold and silver miners, I am in them for the foreseeable future.

Also bought a few rolls of B.U. 2006 Silver Eagles last week. We have a coin dealer here in town whose Silver Eagle prices are rock bottom – a good six percent lower than any internet dealer I’ve ever come across. (There are those who would think that buying physical silver when its spot price is above 10 is lunacy. Only time ... and an eventual global economic earthquake ... will reveal in which camp the insanity lies. :)

~ joanie ....

[Sic Luceat Lux]

(There are those who would think that buying physical silver when its spot price is above 10 is lunacy. Only time ... and an eventual global economic earthquake ... will reveal in which camp the insanity lies. :)

Exactly! However, I have put a potential 'sell price' for my silver holdings - $20.

[Sic Luceat Lux]

"potential 'sell price' for my silver holdings - $20."

In other words, no hurry - lol.

[Travis McGee]

I don't plan to convert my PMs into paper money, ever. After paper collapses, then we'll see what comes next.

[Sic Luceat Lux]

I don't plan to convert my PMs into paper money, ever.

There is merit to that. Just have to mull it all over when the time comes.

[Travis McGee]

PMs are getting hammered this week. This may be a last chance to get silver under $10.

[Sic Luceat Lux]

This may be a last chance to get silver under $10.

Yes, and as we've read above, this is March and this is the month that Israel stated they'll knock-out Iran's nuclear reactor.

[vrwc0915]

what do you think is going on?

[Tanniker Smith]

Only if you sell it at 12.00.

Don't ride it up and back down again.

[Travis McGee]

I think March is being overhyped as "the month." In general, I just have a feeling that TS will not hit TF when we expect it to, on a schedule.

[Sic Luceat Lux]

Now we have silver even higher: $10.39 close yesterday.