Has set an all time high.

$51.19, up $2.19 on the day

When it hit $20 I said I wouldn't buy again until it got down below $18. Might be a long wait!

Kinda makes me want to sell my little silver stash!

I said the same thing when it broke $30.

I jumped on a few online sales/auction spots the other day just to "look". Going for crazy prices

Why?

Is it raining

I'm not going to. But that's nearly 3 times what I paid for it! But I didn't buy it to make money... just as a hedge... so it'll stay.

It's just fun to look at.

Back below 50. It's going to be a bit choppy.

Last 5 years or so I've been giving my daughter and all the nieces and nephews a 1 oz silver Christmas round as a stocking stuffer. That tradition may have ended last year. Pricey to buy a dozen to give away now!

I'm regretting not buying at 22.00

The last time it hit $50 was 1980 it’s a slow rise and fall kind of like the fur market.

Bump this up with the stock market post.

Silver closed over 50 today. That's an all time high for end of week close.

It's getting interesting and a squeeze is forming.

Wife bought a bunch at $22 but she has no real plans of what to do with it that drives nuts! LOL

So with the squeeze coming how much have you shorted the market.

I think the shorts are going to lose

Oh I was thinking you meant with the squeeze that the bubble would break and drop, I see gold has rebounded back up over 4000.

I bought a lot of silver coins for 4 to 5.4 times face in the late 80s and early 90s. Right now they are worth $36.09 times face. I wish I bought more. I'm waffling between selling and holding on for the ride.

Keith

Coin shop I deal with offers 28.5 times face value.

This updating calculator tells you silver's current value and lets you easily see the melt value of your American silver coins.

http://coinapps.com/silver/coin/calculator/

Keith

My understanding is some refiners are turning down 90 and 92.5 percent silver and are only taking .999 for the time being.

That will have an effect on the price paid at point of sale.

They've got to be swamped right now with silver, because of the high prices.

Keith

Gold/silver took a big jump in early 80's. Followed by a big decline. If your a gambler might could sell now and buy it back in a few months with a good profit.

If I bought when it was less than 28, I'd be selling a little and keeping some too.

Remember when the Hunt family tried to hoard silver, decades ago? There was too much out there. And maybe still is, and that explains the refiners selection criteria

Do you think this price is allows reasonable, or too much markup, compared to the 38.5 X value referenced below in KeithC post?

I'd offer you 30 times face. Lots of regular walking around people who don't have coin shop overhead to pay would too.

What are some reputable places online to buy silver, gold and platinum??

US, 90% silver coins are currently 36.09 times face value for melt.



http://coinapps.com/silver/coin/calculator/

If you aren't getting screwed to badly, you should get $34.28 for use 90% silver coins and be able to buy them from a dealer for $37.89.

Keith

Go to a coins dealer and see if they will pay you spot. I can buy them back of spot right now from the guy I use the most.

Same as Amy other commodity the spot price is a paper price. It's all supply and demand. The big refiners aren't taking 90 and 92.4 percent right now. They have a backlog of it and along with that there is a high demand for 1k ounce good delivery bars. The LBMA is basically out of them. It's easier to refine and mold .999.

Another reason adding to lower offers on non .999 is silver is backwardation right now. What that means is the delivery price on today's market is higher than the futures market. No how big of a risk would you take buying 90 percent that isn't being taken by refiners and may have to sell down the road that right now is trading at 2 dollars lower.

It's the same as the corn market, what it's worth at the CBOT isn't the same as what it's worth in the grain bin on the farm. Lots of factors at play.

Wasn't that long ago 90 percent could be easily sold by a customer to a dealer for 10 to 20 percent over spot.

Yeah you’ve got a basis.

I would not buy silver right now. The rise in silver price is mainly due to trading in silver ETF's, not physical silver. These are just gamblers who are driving the market, not demand for real silver.

As evidence of this is if you try to sell silver right now to a refiner, they won't buy it, since it's just piling up. Futures contract sale prices are lower than spot.
If I was holding silver, I would consider selling it now, especially if you can find someone to pay you anything near spot.

BTW, this is why I think gold is better than silver as either a hedge or investment; you can always buy and sell gold much closer to spot than silver.
With silver you often pay a premium of 10% or more when buying, and sell at a discount of 10% or more. That is a big spread. Gold is closer to 2% or even less.

Gold is currently $4033.80 an ounce. Silver is currently $49.89 an ounce. The same total value in physical silver would take 80.85 times as many ounces. Gold has a cubic density of 19.3 grams per centimeter. Silver has a cubic density of 10.5 grams. Silver is 1.83 times less dense. You would need 148 more times the storage space to store silver than gold of the same value.

Keith

Some day in my lifetime the ratio will be low 60. Then it's time to trade

Not to derail this thread, but the major gold exchanges, NY, London, Shanghai and one or two others, manipulate the gold price in order to support western central banks and the strength of the dollar to prevent it's collapse.

Later this year, there will be a new gold exchange opening for business in St. Petersburg Russia in order to counter manipulation. I'll bet the BRICS Countries will move to this exchange, or at least follow it's gold price. I think at that time the true value of gold will start to be revealed. It is possible that some if not a lot of the recent increase in gold price is in anticipation of this new market.

I have read that the St. Petersburg exchange will only trade physical gold, not fake ETF's.

Gold $4142, silber $52.76.

Silver should pull back any day.

So what do you think the price will do when this happens?

^^^^
I think gold will continue to increase in price as the dollar and other fiat currencies continue to be pumped out.
It isn't so much about gold going up in value, but the dollar's decline. Due to years of manipulation, gold most likely has a lot of catching up to do.