Go Silver Go!

Originally posted by SophyC76
Hey everyone, I have kind of a noob question
So I am seeing that silver prices are steadily declining and I might be ready to buy
Do you guys recommend me buying physical silver for example silver american eagle coins or is there a different way to purchase?

thanks

If you are buying coins,

Just my own preferences because they are recognizable Globally:

Eagles
Liberties
Maple Leafs (CDN)

And then Rounds and 10oz - 100oz bars because after all...Silver is Silver.

In other words, I like to mix it up between small, middle and large pieces. Easier for trade and sale.

Again, this is MY preference and may not be the same as other buyers/sellers.

Good Luck!

Originally posted by wisdomnotemotion
CME's margin hikes (84% currently) are illegal because

■ unfair practice & abuse of power
■ monopoly
■ anti-investors

why are people not protesting? Why are people being too gullible to believe what mainstream media and government analysts claimed that silver gone parabolic? It's pretty obvious that CME group is a fraudulent and ponzi organization

In 1982, Silver was US$50 and a box of 18 oz Kellogg's Corn Flakes was US$1.25.
Today (2011), 1 box of 12 oz of Kellogg's Corn Flakes costs US$3.79.

What the heck.. American government and garbage US dollar - dirty high-level mega criminals.

It's really not, here is why. You are controlling a contract worth almost $250,000 at some point. You are getting 10:1 right now. Could be a lot worse.

Think about it like this. Oil was down $10 today. No margin hikes to speak of. No one can control a market for too long. For evidence of this look at the YEN and all the counter measures that have happened and still they cannot weaken it.

Silver is going back up - but not until every mother ****** with less than $500,000 in their futures account is out. I almost tried to catch the falling knife this afternoon - luckily I never pulled the trigger.

Originally posted by wisdomnotemotion
In 1982, Silver was US$50 and a box of 18 oz Kellogg's Corn Flakes was US$1.25.
Today (2011), 1 box of 12 oz of Kellogg's Corn Flakes costs US$3.79.

You might be thinking of the spike in 1980 that came about when the Hunt brothers attempted to corner the market. By '82 the price of silver was reasonable once more.

That said, I agree that there should be something considered illegal regarding the CME's current manipulations. It's an inside traders dream, and an absolute abuse of power. Thankfully I don't deal with margins, and keep my purchases in the physical realm.

Originally posted by Dance4Life
Silver is going back up - but not until every mother ****** with less than $500,000 in their futures account is out.

Exactly.

After allowing some big cats to reduce their holdings around $50, they're now pricing out small time speculators with rapid-fire margin hikes. Once the dust settles the big cats are free to jump back on board making a double killing.

I read that the dip will be brief. I plan on buying, but don't know if I should wait a few days or not.

It seems from the graph that it could be on it's way back up, but I don't know.

Any opinions? The price is at $34.89, but it would cost me roughly $37 each oz. $37 doesn't seem so low. Is it going lower??

reply to post by jessejamesxx

I've read a lot of predictions. Almost all are predicting that the bottom is somewhere between $25/oz and $32/oz. All I can suggest is just keep watching and don't get too impatient to jump in.

I am waiting to make a purchase of physical, but I am in no hurry. I will wait until the bottom has been hit and prices are back on the rise. If it bottoms out at say $32, and you don't start buying until it climbs to $33/oz, you really haven't missed out on much. On the other hand, if you jump in too soon thinking it can't go any lower you may have an ugly surprise.

My ego has taken a hit with the spot price, but I haven't actually lost anything, as I am holding. If I hadn't spent all of my fun money on frivolous stuff, I would go out and buy more silver this weekend. Spot price shooting to the moon so fast was really making me nervous anyway. Oh well.

Originally posted by AmethystSD
My ego has taken a hit with the spot price, but I haven't actually lost anything, as I am holding. If I hadn't spent all of my fun money on frivolous stuff, I would go out and buy more silver this weekend. Spot price shooting to the moon so fast was really making me nervous anyway. Oh well.

I can't afford an ego!

But I understand how the frivolous things like food, shelter and health-care can sure get in the way of buying silver tho.

I just want to see one more nice dip before the return but I'm starting to have doubts as Friday is fast approaching.

It's funny but it's almost as if I can feel everyone on this thread holding their breath...a palpable hush in anticipation...waiting...waiting...lol

My hunch about the upward swing worry was wrong, as it's still dropping


reply to post by jude11

Newb here, how does Friday play into the price falling?

Originally posted by jessejamesxx
My hunch about the upward swing worry was wrong, as it's still dropping


reply to post by jude11

 

Newb here, how does Friday play into the price falling?

edit on 5-5-2011 by jessejamesxx because: (no reason given)

It's not the drop people are looking at on Friday exactly. It's what the market ends up at close.

Also, there is usually more activity at that time so it is sometimes a good indicator as to what may be happening. Just that.

Call me crazy, but I'm calling this bearish slide over with. Along with the insider info I got earlier, check THIS out

The festival--Akshaya Trithiya, to be celebrated Friday--typically sees huge demand for gold and silver as many Hindus believe buying the metals on the day will multiply their wealth.

India is the largest consumer of gold and imports 700-800 metric tons of the yellow metal a year. It also imports around 3,000 tons of silver.

Parker Bullion Pvt. Ltd., which has retail outlets in five states including major bullion consumers Gujarat and Maharashtra, is witnessing "extraordinary demand" as the festival nears, the company's director Vasu Acharya said. "It is more for silver, but the demand is quite strong even for gold."

Plus friday has consistently been an up day due to regular investors that use automated sysetems to buy ever friday (if they are still buying, which is very likely)

Plus all the other factors that haven't changed.

Blew through the 50dma with conviction, if 34 gives way, next stop is 30ish. After that, a test of the 200dma comes into play...currently @ 28.29.

A potential fly in the ointment with respect to the slingshot rebound to $50 that some folks are anticipating is the seasonality factor. We're moving into the summer months, the historical slow season for precious metals, an offshoot of the Sell in May and go away dictum. Note Soros just rebalanced his portfolio.

Back in today [gingerly] with an appetizer sized chunk of SLV Oct 40 calls.

GL

data.cnbc.com...$$eurjpy/tab/3

green cross.... market go up

red cross ......market risk appetite/assets go down

has been good leading indicator over years

tonite it's green by 1/2 percent

well i jumped in $1.20 before the bottom of the dip. For delivery, not a large purchase (only 10 oz) but a purchase at that. BTFD!

Made my first purchase of silver.. probably a day too late, but it's ok. I feel good about it. I'm going to keep PMs proportional with my savings account, and buy when it's down. I figure 16 oz is a good start right?

Hey, that's 16 ounces more than most people have. Just put a little money aside each payday, and when you have enough to buy silver, hit the local dealer (if you have one) or order online.

One of the biggest frustrations I face is that there are no good dealers of bullion near me, so I have to order online, and a lot of online places ask that you place a minimum order such as a roll of 20 oz or a $1000.

reply to post by LS650


Me to, my nearest dealer is 80 miles away! I have to buy on line plus S&H, around $18, so depending on what im getting i need to add that cost to what i get. But hey we are the ones getting the deal, we are exchanging paper money for REAL money!

Originally posted by jessejamesxx
Made my first purchase of silver.. probably a day too late, but it's ok. I feel good about it. I'm going to keep PMs proportional with my savings account, and buy when it's down. I figure 16 oz is a good start right?

I have a 401k and i stopped it about a month ago and putting that money into PM every month. You ahead of the game. 16oz is a good start, you got to start somewhere. Make sure you have it in your hand when you buy and store it in a safe place.

You will be feeling good when your holding your bars, coins in your hand and silver is at $60 in December or more.

How does one price old silver pots and pans.
They have crown markings on them.
I estimate it to be between 15-20lbs.

reply to post by A por uvas


they have metal smiths that you pay and they will melt it down for you and turn it into bars. your going to have to look it up, or you can sale it as is on E-bay, im sure you will get coin there to

reply to post by camaro68ss


Thanks I'll start searching.
The funny thing is I noticed this thread a few weeks ago and started thinking about just putting 500 euros into it and see what happens. So I started watching videos, reading and following the charts. I didn't buy anything because it went from mid 30's to almost 50 and I thought I blew it because I was thinking it would keep going up.To make a long story short I noticed all the old pots and pans in my restaurant that I used daily were not quite the same look as some other metals and then I noticed the crown mark and found a video that showed what to look for with the marks.For 2 weeks I had silver fever and right under my nose...........