Silver is on a tear right now.

Goose-0 said:
Went to my favorite pawn shop today. Seven Morgan dollars for $85.90 (that's with our sales tax). There were (6) 1921 (P) and (1) 1896-0 dollars in the group (sold as a group). The silver value is $92.68, so I paid 7.3% less than the silver spot price at the time.
Click to expand...

Nice hit! I'm too bad with math to trust myself with purchases like this.
 

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Folks,

Regardless of what people say/believe about the PM markets there is obviously manipulation going on both on the upside and downside much like the stock market.....the dealers make their money based on the spread between buy and sell prices regardless of the price level.

Likewise why do all the stock market newsletters keep promoting their premium service for a fee, simple, they make more money with the newsletters than applying their analysis to buying the stocks they promote.

Regards + HH

Bill
 

jim4silver said:
You're right my views did change. Fiat doesn't matter? You must be doing well in your business so much you can afford to lose money and not care, I can't do that (yes fiat is STILL money, contra to what all the pundits have been preaching for years). My goal is TRUTH, not blind adherence to failing concepts.

I am done here too. I really don't give a $h!t what anyone else thinks. Nobody else is paying my bills but me.

Best of luck to all!

Jim
Click to expand...

Jim,

Remember the talk the grounds keeper at Notre Dame gave "RUDY" when he wanted to quit?

Well, hang on for another 6-8 month span. Here's a "twist" or a "Wild Card" from China....

Silver, Gold, India, China, City of London, Banks, Wars, Currency

Always enjoy your points and discussions,
Bill
 

Looking at the silver chart, it appears that $15.75 or thereabouts is an important number. If you draw a support line on the below chart starting around January 15th and go through up till now, it will show that we need to get to roughly $15.75 silver to breach the line. If we breach it convincingly I think there is a fair chance we will revisit or modestly breach the "low" from late 2015. In any event this recent move looked somewhat strong for a minute, but we will see if it is real or not. Based on the COT reports I am guessing we will breach the support line in days or weeks max.

http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&b=5&g=0&id=p35903851189


Just my opinion.

Jim
 

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How about this chart.
Hi! Jim glad to see we didn't leave. Hope your still not mad at me. Lol

524silv.png
 

jim4silver said:
Looking at the silver chart, it appears that $15.75 or thereabouts is an important number. If you draw a support line on the below chart starting around January 15th and go through up till now, it will show that we need to get to roughly $15.75 silver to breach the line. If we breach it convincingly I think there is a fair chance we will revisit or modestly breach the "low" from late 2015. In any event this recent move looked somewhat strong for a minute, but we will see if it is real or not. Based on the COT reports I am guessing we will breach the support line in days or weeks max.

$SILVER - SharpCharts Workbench - StockCharts.com


Just my opinion.

Jim
Click to expand...


In layman's terms, what is a "support line" and what impacts would occur if we crossed it? I'm assuming "crossing it" means the price drops below that line.

Thanks!
 

I don't know if I used a correct term but that is what I call it. You can take any chart of a stock, commodity, etc, and find lines that run through various price points over time. So there is no one right "line" that means everything on a particular chart. In my example above you can see where the next down turn in price would touch the imaginary "line" and that could be argued is "support" in a sense going back to Dec 2015 (if this move were to continue its recent bullish move the price should not drop below that line). In charting when price breaks above or below a line of support or resistance, or while forming one of the many chart patterns, it can mean it is more likely the price will continue in a particular direction once that line has been broken.

Generally the longer the time period the "line" has not been broken, the more meaning a "break" in that line can have once it does occurs. I don't have the ability to draw the lines on the chart and post it here but you can see examples of this on many stock trading type sites.

Just my opinion.

Jim
 

Silver is right on the cusp of breaking down thru an important price point, but so far has kept holding on. Which way will it go?


Jim
 

I think it'll stay in limbo........up, down,.....up, down in a narrow band....$15.75 to $16.30 for a few more months.
 

Goose-0 said:
I think it'll stay in limbo........up, down,.....up, down in a narrow band....$15.75 to $16.30 for a few more months.
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You could be right Goose-O. I am guessing we either drop big tomorrow or shoot back up a bit. My gut is saying -50 cents tomorrow in silver or thereabouts so it will probably go up. I have some cash saved up so I am ready to buy the right kind of silver when my local guys get some in. Plenty of bullion available with brand new generic at $1 or so over spot. I can get secondary market really nice generic for 60 cents or so over if I want but I am waiting.

I picked up some nice Kookaburras this week. Got a 1990 in the original square capsule for $4 over spot plus a few random years for the same price. Also got a few later year Koalas (2011,2013)for $5 over spot. I would have bought more if they had them at that price.


Jim
 

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Well, here it is Wednesday, 6-8-16 around 11 AM CT. Looking at the markets. something is going on. The PMs market has been subtly up and down in a narrow range for many weeks. My previous guess was that silver would only hit around $16.30 at most for awhile. Now the gold miners' (silver also) stock is up an average of 7%, silver up .66 cents/oz to $17.05/oz and Gold advancing $16/oz to $1263/oz. I guess as the Dow rises, now at 18,000, PMs is riding its coat tail.

As for your Kookaburras and Koalas, you scored well on the price you paid, they are neat coins. On two occasions when I was in Australia, I paid around $30 each (US) for some of them when silver was $22/oz.....$8 (36%) over spot price at the time.
 

Goose-0 said:
Well, here it is Wednesday, 6-8-16 around 11 AM CT. Looking at the markets. something is going on. The PMs market has been subtly up and down in a narrow range for many weeks. My previous guess was that silver would only hit around $16.30 at most for awhile. Now the gold miners' (silver also) stock is up an average of 7%, silver up .66 cents/oz to $17.05/oz and Gold advancing $16/oz to $1263/oz. I guess as the Dow rises, now at 18,000, PMs is riding its coat tail.

As for your Kookaburras and Koalas, you scored well on the price you paid, they are neat coins. On two occasions when I was in Australia, I paid around $30 each (US) for some of them when silver was $22/oz.....$8 (36%) over spot price at the time.
Click to expand...



So far silver has held above the support line which is impressive. I have no clue which way its headed but I am still guessing lower one more time.

I have been fortunate a few times picking up various Kooks at roughly $5 to $6 over spot each, even for earlier years. I have had 2 full Kook sets so far and am working on a third one. I don't like the Koalas as much but get them when I can. I have all of them and extras, with some 2007 and 2008 coins in the "card" holders which for some reason makes them better. I bought most of these at $5 to $6 over spot as well (a few cheaper) so I consider them "bullion" but they have some built in value over silver content so I feel safe buying them even if silver goes to $12 or lower (not saying it will :tongue3: ).

I am completely finished buying "generic bullion" and only get the cooler stuff (foreign gov issued coins and proofs) when I can get them cheap. The downside to this is that there are times I leave the stores empty handed since they don't get this stuff in all the time. I also buy US silver dollar commem's (specific coins/years) when I can get them at lower premiums. Some of the various years greysheet for many multiples of melt, yet they wholesale cheap. I would never pay retail for these but they are a great buy when you can get them cheap.

Jim
 

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Anyone buying Silver Bars? Thanks
 

I picked up a few 5oz and 10oz bars and lots of 1.oz coins when it hit $14/oz in Feb/March
I was hoping it would stay down a little more so I could pick up
More with income tax return but it's been going up every week not getting back to $14.50 or so
 

I picked up the 10 gov. Issues 1 ozt rounds for 180 last week. Good way to get a Britannia, kook, koala, spider, eagle,maple leaf, ect.

Got my first Irish gov silver coin too. I paid about 2 over per coin.
 

Cool. I ordered some 10oz Silver bars from Provident last week. Should be here Saturday. Used the clad I found at the beach last year for the purchase...
 

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