Silver now over $64 (xx$54xx)

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"blown through"? Not just yet.
 
pmbug said:
"blown through"? Not just yet.
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Yep your right. It pulled back, but who knows what the price will be each time you wake up from a nap ? Well COMEX will be shut down today so we'll see what tomorrow brings. Gold is very high too. I just spent a little over $2 K on a 1/2 commemorative and it was a spot deal and was glad to get it. Monument has 1 oz gold Kruggies on sale for $4,157 and that about the best deal on 1 oz gold I can find.

And I wanted a 1 oz coin this month along with a little silver but it looks like, at best, I'll be buying spot silver. And not much of it.

I got lucky, if you can call it that, and bought two 10 oz bars before all this crazyness. One an RCM which is getting very hard to find and the ones you can find are all $40+ more then what I paid. I even bought a Silvertown 10 for $535 because I smelled a rocket OTW and even that is up $10+ today. Pretty crazy for a guy who loves buying coins but even ASE's are starting at over $56, Philharmonics at $54.99 and thats only with a $1.61 premium. Even Maples are starting at $56.02 with only a 2.93 premium. At these coinage prices I prefer buying weight more cheaply and 90%, halves preferably. Monument has $20 face halves for $723 and I'm ready to order those. Thats $50 under spot for both rolls but still kwazy to spend that kind of cash for 90% halves.

I think tomorrow I'll have to stop by my LCS and see if he has anything laying around.
 
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SD has krugs @ spot and BE Exchange has foreign fractional and pre-33 at spot too. I would normally be buying here, but my cash is spoken for right now. You also may get it a few dollars less on Friday, but the deals might be sold out too.
 
KnowWhy said:
We all a bunch of savvy wealth preservers now.


*a roll of dimes is now considered wealth
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There was a member here earlier in the year who complained he bought something and the.
price went down right after.That was about 8.months ago. He was very upset at the time and today he is a genius.
 
wanted to post this link to a video in which she outlines how i view the fundamentals ....she does repeat herself a few times but still a good listen

 
nickndfl said:
There was a member here earlier in the year who complained he bought something and the.
price went down right after.That was about 8.months ago. He was very upset at the time and today he is a genius.
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Also people who told pmbug not to take debt to invest in silver...
 
Viking said:
Also people who told pmbug not to take debt to invest in silver...
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...i am one of those people... LOL (raising hand) ... still stand by my thoughts at the time (as posted) which was to instead of using credit and using physical to do a short term trade, to buy a 3x long silver etf in a margin account
 
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Its not a bad time to cherry pick some Nazi numismatics, sticking to the all important nickle and silver metals.https://www.joelscoins.com/nazi.htm

Silver coins sold by silver content​

Silver broke $56 per ounce! I have not (yet) updated prices of silver coins on the website.
Many are now priced below melt value!
Get them today before I start updating prices.
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Its not a bad time to cherry pick some Nazi numismatics, sticking to the all important nickle and silver metals.https://www.joelscoins.com/nazi.htm

Silver coins sold by silver content​

"Silver broke $56 per ounce! I have not (yet) updated prices of silver coins on the website.
Many are now priced below melt value!
Get them today before I start updating prices."
Click to expand...

I already own many of them as recreating these Historical crimes tied to their currencys was a priority for me. I despise these fascist bastards and they got around suspicions of nickle importation "Germany had none" by saying they were just going to use it for coinage when in reality they were building a strategic reserve of the all important metal buy hiding it in their coinage. Which they eventually forced their citizenry to exchange for the much less important aluminum coins.

You see nickle/steel alloys had great military value. The mixing of nickle and steel increased the viability of these alloys for weapons performance.

The importance of nickel for weaponry was recognized in 1890, whenthe U.S. Navy tested a sample of nickel-steel armorplate, a productcontaining between 3 and 4 percent nickel obtained from the French steelconcern, Le Creusot. At trials in September, the nickel-steel plateproved its considerable superiority over ordinary compound armor [madeof layers of wrought iron and steel) in withstanding the impact ofshells. Earlier that year similar tests in Britain produced the sameresults. The world faced a revolution in naval armament.
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By the late 1880s metallurgists had demonstrated the attributes of nickelas a steel "toughening" mineral and the production of nickelsteel had become commercially viable. Also, the penetrating power ofshells had reached the point where it threatened the viability ofwarships. The state-of-the-art British battleship Inflexible launched in1879 was outfitted with two feet of compound armorplate backed by 17inches of teak. To remain afloat the aft and fore of the vessel had tobe constructed of cork. However, even that depth of armor provedinadequate against the increasing power of shells, especially with theappearance of forged-steel Holzer projectiles
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The Royal Navy and American Navy had ready access to Canadian nickle mines which eventually became the source of 95% of the worlds nickle so the Nazi's had to get creative in getting their hands on this all important strategic resource. And a lot of those Liberty ships that plied the Atlantic, hunted by German submarines, were loaded with nickle. And its not a bad time for numismatics to fill gaps in collections. https://www.thefreelibrary.com/Coins+for+the+conflict:+nickel+and+the+Axis,+1933-1945.-a013421578

Fascinating story. Also Nickel had advantages as a coinage metal. Its high melting pointand the wear and tear it imposed on dyes and minting machinery presentedalmost insuperable problems to counterfeiters. Nickel coins were farless subject to abrasion, oxidation, or tarnishing than gold, silver, orcopper coins.
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The importance of nickel for weaponry was recognized in 1890, whenthe U.S. Navy tested a sample of nickel-steel armorplate, a productcontaining between 3 and 4 percent nickel obtained from the French steelconcern, Le Creusot. At trials in September, the nickel-steel plateproved its considerable superiority over ordinary compound armor [madeof layers of wrought iron and steel) in withstanding the impact ofshells. Earlier that year similar tests in Britain produced the sameresults. The world faced a revolution in naval armament.
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As nickel-steel armorplate was being developed, nickel-steel wasalso being used in manufacturing weapons the plate was designed tocounter. The initial stimulus came with the use of picric acid gunpowderto increase the velocity of projectiles. Picric acid powder had atendency to crack the cast steel barrels of artillery pieces. Theadoption of bronze as an alternative metal provided only a limitedimprovement. After experiments in 1899, the first nickel-steel gunbarrelwas produced at the Krupp works. Thereafter, with improvements, thealloy became standard for the barrels of heavy artillery and naval guns.Each of the Krupp "Big Berthas" of World War I - the42-centimeter howitzers capable of firing a 930-kilogram shell 14kilometers - required 5,000 pounds of nickel to manufacture.

From the mid 1890s, on the basis of experience gained in theproduction of nickel-steel armorplate and gunbarrels, the Krupp workspioneered the use of the alloy in shell casings to increase penetratingpower. At the same time, copper-nickel alloy was adopted for the jacketsof rifle bullets. This alloy kept bullets from being destroyed by therifling of the barrel and enhanced their accuracy over longerdistances.
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In the meantime nickel became a vital ingredient in a variety ofarticles with an important military role. Nickel increased the speed oftransmission in telephone and telegraph wires. Nickel prevented theplates of early batteries from disintegrating due to the acid theycontained. It was also used for the positive electrode in the Edisonstorage battery Nickel steel was used to manufacture axles, crankshafts,springs, drive chains, and other vehicle parts where strength,ductability, and durability were needed. It also became a vital elementin radio valves. In the closing stages of World War I, the tank,protected by nickel-steel armorplate, made its appearance on thebattlefields of Flanders.
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The arms race between the major powers, which began in the mid1890s and was especially intense in naval shipbuilding, dramaticallyincreased the demand for nickel. In the late 1880s, the world output ofnickel, almost entirely obtained from the French South Pacific colony ofNew Caledonia, stood at about 1,000 tons. The price, following theopening up of the New Caledonian deposits in the mid 1870s, declinedfrom $2.50 a pound in 1876 to $.16 a pound in 1886. The amount of nickelmarketed was sufficient to meet the demand for nickel's three mainuses: "German silver," an alloy of copper, zinc, and nickelused in spoons, forks, and decorative articles; nickel electroplating onhousehold utensils; and for the relatively small amount of nickelcoinage. By 1913, world nickel output had increased to around 40,000tons, the majority of which was used for armaments. Even the UnitedStates, a country that was not a major participant in the arms race andwhere a considerable civilian demand for nickel emerged with the rapidgrowth of the automobile industry, an estimated 50 percent of the metalused between 1903 and 1913 went into armaments. By 1913 the Canadianmines near Sudbury, Ontario, emerged as the world's major supplier,accounting for 60 percent of world output. Most of the remainder camefrom New Caledonia
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Nickel was the only vital material whose supply to Germany andJapan could be almost entirely interdicted by an embargo imposed by theWestern powers. It was also the only strategic material for which asubstantial stockpile could be created in the form of coinage.
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Apart from the experience of World War I, Japanese and Germaninterest in stockpiling nickel was stimulated in the 1930s by publiccampaigns in North America for an embargo on the export of nickel to"aggressor nations." A private member's bill wasintroduced in the Canadian legislature to prohibit the export of nickelto Japan and Germany. In response to Mussolini's invasion ofAbyssinia in late 1935, Canada imposed an embargo on the shipment ofOntario nickel to Italy as its contribution to sanctions imposed by theLeague of Nations.
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nickndfl said:
There was a member here earlier in the year who complained he bought something and the.
price went down right after.That was about 8.months ago. He was very upset at the time and today he is a genius.
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Of course the price will drop right after you make a big buy. That stands to reason. Just like you wash and wax your truck if you want it to rain.
 
$58.16 but coin shops in my area won't purchase anything (even silver eagles) anywhere near spot.
 
Argentsum said:
$58.16 but coin shops in my area won't purchase anything (even silver eagles) anywhere near spot.
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That will change as retail (and thus wholesale) demand catches up to the exchange markets.
 
It is really just a bit of a temporary Cash Flow problem on the behalf of the coin shops and a Refinery problem (stopping the lower fineness stuff for now). They will quickly run out of the better scrap material and then start opening up to other stuff, IMO. Then premiums start to blow out.
 
Miners should be having a better day. GDXU is down and SILJ is up 0.61%.
 
Voodoo said:
Consider that a blessing.
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I'm not selling nor buying, but it sure is fun watching our "hedge against inflation" grow in value. I'm still betting my kids are going to inherit it but who knows. If we do end up having to use/sell it,.......It sure isn't going to be at todays "Low Low" prices......;):D
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Interesting times we live in.


.Fortune cookie..jpg
 
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😲 Wake up to see SILVER well over $60 USD 😁

Now that $60 has broken the psychological hold of Silver with a 5 handle & that a 6 handle is reality, further upside is crossing everyone's mind :unsure:

I expect Triple Digit Silver to happen in 2026. Why ? Because the World is waking up to the FACT that Silver is in structural Supply Deficit & that Deficit can't be remedied/alleviated in the short to medium term, 5 - 10 yrs.

There's a shortage of Silver at the CURRENT PRICE !

There's NO SHORTAGE of Silver at the RIGHT PRICE !

:cool:
 
SKULL said:
Damn, Silver trading at $61.50 + is a Paradigm Shift 😲

The Market is now Searching for the TRUE Price of Silver :cool:
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I smelled it early on. Not that I'm a genius or an expert by any means but the seeds for this explosion have been planted for awhile. Here are some of the data points I use to predict future price increases for this metal.

1, "Importance". Silver is very important for a host on uses and technologies and its only increasing as we move into the next stage of technological development.

2, "Military use". America alone is developing all three stages of its nuclear triad. New ICBMs, New B61 nuclear bombs, a new stealth bomber,a new Columbia class SSBN. A new attack submarine design, Thousands of new missiles and munitions with advanced seeker technology. 6'th Gen fighter bombers. And on and on. China is doing the same. West Europe, Australia, Japan, India, Israel, Turkey, pretty much everyone who can is doing the same. Building or buying advanced weaponry which is reliant on silver. Its why America slated it as "critical".

3, "Industrial and consumer". This also has gone high tech. and when new car batterys that are silver reliant and far more overall reliable come out then watch out. 3 digit silver prices are assured. EV's are the future no matter how you cut it, the tech is catching up to the demand and is ready to launch. Lots of technologys use lots of silver, to many to list here.

4, "Govt. hoarding, big Bank hoarding, individual hoarding". There is a whole lot of hoarding going on to protect big power and individual power in a way one usually attributes to gold but is far more consequential in that a modern economy simply can't operate without adequate silver stocks.

5, "Supply and Demand". This is the big one as production has not kept up with demand for years now and increasing mining is no simple task and will take years to do. If in fact Nations and companys even want to because they like the high prices for their product. Along with the political clout production manipulations give them.

6. "Weak fiat, the $USD most of all". Its in the interest of some countrys and Blocs of nations, to weaken the $USD's importance in the Global economy. The BRICs nations have been draining world silver reserves quietly, India and China most of all but all of them, Brazil, Russia, India, China, and South Africa, are buying more and more silver and pursuing a gambit of breaking the $USD on the world stage by building their own silver reserves, draining the COMEX and LBMA, and yearly floating the idea of a commodities trade system.

7, "American inflation and National debt". The numbers just dont look good, we have to much corruption, waste, and stupidity and no effort to address this debt issue. This reality makes Institutions and individuals run to PMs including silver because it holds its value much better then holding Fiat currencys and physical holds make people feel much more secure.

8, "Personal debt". I know a lot of people who have been drowning in CC debt their entire lives. There is no such thing as debt that goes unpaid in this country. Some sucker is going to be left holding the bag. Just like the suckers in MN. and America are going to be left holding the bag for Tampon Tmmies Somalia caper. Or all these Liberal arts college students debts left unpaid. Some kid who took up plumbing instead will end up paying for those bills.

I have a few more but you get the picture. I see nothing in the near term that will support a devaluation of the white metal. On the contrary I see the polar opposite.
 
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Anyone been in an actual silver mine? I have. Three of them in fact. One in southern New Mexico, another in northern NM and one in Southern Colorado near Creede. None of them are active anymore. The one in Northern NM was strictly a silver mine. The other two pulled silver as a byproduct of gold and copper


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