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View Full Version : What? no comments about $1.50 loss in silver in less than 24 hours?



Ponce
4th May 2010, 07:35 PM
Your comments?

StackerKen
4th May 2010, 07:40 PM
No comment


http://gold-silver.us/forum/index.php?topic=3939.0

wildcard
4th May 2010, 07:40 PM
I told you guys to sell.

mick silver
4th May 2010, 07:44 PM
i sold all of mine and got a house in the woods ... i stop some time ago looking at the price of silver . only time i look at the price is when i buy

1970 Silver Art
4th May 2010, 07:46 PM
Your comments?


Yeah I have a comment.................

That DOG got its a$$ beat down today. :'(

JTM3
4th May 2010, 07:52 PM
I just got some sterling rounds below spot today. Below today's spot! 8)

General of Darkness
4th May 2010, 07:55 PM
I just got some sterling rounds below spot today. Below today's spot! 8)


How the heck did you do that?

old steel
4th May 2010, 07:56 PM
Good time to pick up some more if you're in the market.

Lets see what tomorrow brings.

Horn
4th May 2010, 08:00 PM
Not nearly as bad as 08.

Should shake this off fairly easily, maybe. :imskerd:

Ponce
4th May 2010, 08:09 PM
So, now that silver is DOWN some of you want to buy some more.......what about when silver goes to $25.00 and it goes down to $21.50? will you be ready to buy some more?..........can you see what I am getting at?

I know and you know that soon silver will be taking rocket to the stars...so why not buy now all that you can?.

I did it between 1982 and 2002 and now I am sitting in THE train in my first class private cabin looking out the window.

If you have the cash........buy all that you can.

1970 Silver Art
4th May 2010, 08:13 PM
So, now that silver is DOWN some of you want to buy some more.......what about when silver goes to $25.00 and it goes down to $21.50? will you be ready to buy some more?..........can you see what I am getting at?

I know and you know that soon silver will be taking rocket to the stars...so why not buy now all that you can?.

I did it between 1982 and 2002 and now I am sitting in THE train in my first class private cabin looking out the window.

If you have the cash........buy all that you can.


Regardless of where spot silver is at, I am always looking to buy more silver (usually silver art bars) whenever I have some extra FRNs. Then again, I am just a collector. I am not a serious PM stacker.

Ponce
4th May 2010, 08:17 PM
Dear Mr. Art..........I have posted this many times already..........WTSHTF and you come to me to buy some of my tp I won't care how pretty or what kind your "silver art" is, all that I will care about is that it is one oz .999 silver and nothing more.

Please buy some "junk" silver for your everyday transactions.

StackerKen
4th May 2010, 08:24 PM
Good advice ponce...

you might wanna get some 90% Josey

StackerKen
4th May 2010, 08:25 PM
hey ponce I think these might look good on you.

http://www.frogsongstudio.com/jewelry/mercuryearrings05.jpg

JTM3
4th May 2010, 08:29 PM
I just got some sterling rounds below spot today. Below today's spot! 8)


How the heck did you do that?


Well, it's only 3 ounces, but silver is silver. Right?... and at 16.60 per ounce (.925)?
:)
Especially since I just got rid of all my PM's and copper cents. Also, I am still in High School and on a job search. :-[

I am trying to rebuild my stash.

Horn
4th May 2010, 08:34 PM
hey ponce I think these might look good on you.

http://www.frogsongstudio.com/jewelry/mercuryearrings05.jpg


What would he hang those on?... ;)

1970 Silver Art
4th May 2010, 08:39 PM
Dear Mr. Art..........I have posted this many times already..........WTSHTF and you come to me to buy some of my tp I won't care how pretty or what kind your "silver art" is, all that I will care about is that it is one oz .999 silver and nothing more.

Please buy some "junk" silver for your everyday transactions.


Well Mr. Ponce...........If SHTF, I will NOT come to you to buy some of your TP because 1.) I will already have some TP and 2.) Oregon is a long way from Tennessee. Not worth the drive IMO.

And I have already posted (mainly on GIM1) many times that I am a collector. I am NOT a serious PM stacker and I am NOT a SHTF prepper.

I just wanted to clear that up with you.

BTW I do agree with you that buying junk for everyday transactions is a good idea IF a person was buying silver for SHTF. Of course I am not going to buy 90% silver because I am not a SHTF prepper.

1970 Silver Art
4th May 2010, 08:42 PM
Good advice ponce...

you might wanna get some 90% Josey


I agree with Ponce that this is good advice but mainly for people who are prepping for SHTF. I do not plan on buying 90% because I am not a SHTF prepper.

StackerKen
4th May 2010, 08:47 PM
Good advice ponce...

you might wanna get some 90% Josey


I agree with Ponce that this is good advice but mainly for people who are prepping for SHTF. I do not plan on buying 90% because I am not a SHTF prepper.




ok thats ok...some of it is pretty cool to look at though.

http://unitedstates.coinauctionshelp.com/Bucks1917standingquarter.jpg

http://unitedstates.coinauctionshelp.com/Bucks1917standingquarter2.jpg

1970 Silver Art
4th May 2010, 09:01 PM
Good advice ponce...

you might wanna get some 90% Josey


I agree with Ponce that this is good advice but mainly for people who are prepping for SHTF. I do not plan on buying 90% because I am not a SHTF prepper.




ok thats ok...some of it is pretty cool to look at though.

http://unitedstates.coinauctionshelp.com/Bucks1917standingquarter.jpg

http://unitedstates.coinauctionshelp.com/Bucks1917standingquarter2.jpg



Stacker, I did not mean to "turn my nose up" on 90% silver. I pretty much know what silver I like to buy and that is silver art bars. That is what I like to do. I am just a silver snob and I am very picky on what I silver I like to collect. Most collectors are picky and eccentric and I am no different than any other collector IMO.

Ponce
4th May 2010, 09:03 PM
Ponce <------ buying some collectors silver art hahahahahahahhaha

1970 Silver Art
4th May 2010, 09:08 PM
Ponce <------ buying some collectors silver art hahahahahahahhaha


Hey Ponce, if you do not want any of that "shiny" and "pretty" collector's silver art, I will be more than happy to take it off of your hands whenever I have the extra FRNs available. I am always looking to add certain silver art bars to my collection.

:ROFL: :ROFL: :ROFL: :ROFL: :ROFL:

Buddha
4th May 2010, 09:12 PM
A drop in silver is a gain in silver, know what I'm sayin?

Saul Mine
5th May 2010, 12:24 AM
I checked again and silver still dropped only 99 cents. What is this $1.50 drop you are talking about? Maybe the problem is ... Oh, that's not nice. I won't say that.

But what if it did drop $1.50? That would be 7.9% and silver drops or rises that much every now and then. In case nobody told you, silver is volatile. That means it goes up and down a lot.

And who cares anyway? The price right now only affects how many ounces you can buy, nothing else. I mean you're not going to sell, right? Right? The only other thing that matters is how many ounces you already have. The day will come when you can't remember what you paid for your PMs, you'll just be glad you have some.

Heimdhal
5th May 2010, 12:29 AM
I wish it'd drop like this for two more days so I can finaly get rid of the FRNS i've been stacking since february waiting for the price to come back down! :D

Defender
5th May 2010, 12:54 AM
The only other thing that matters is how many ounces you already have. The day will come when you can't remember what you paid for your PMs, you'll just be glad you have some.

I really doubt that. When I stop doing a jig it's because I'm stuck in a wheelchair - not because I've forgotten. I'll always smile, and maybe laugh a little, everytime I think about having bought silver at these low prices.

jedemdasseine
5th May 2010, 12:56 AM
This week I've been talking to a lot of large dealers in America, and silver inventory is better than usual, lots of buyers, and shipping times for online purchases are much faster than usual right now, especially for 10 ounce bars and larger. Talked to some dealers earlier tonight, asked about spot, and they all said the price drop hasn't changed anything. Anecdotal, so make of it what you will.

1970 Silver Art
5th May 2010, 03:41 AM
I wish it'd drop like this for two more days so I can finaly get rid of the FRNS i've been stacking since february waiting for the price to come back down! :D


If you are trying to get rid of your FRNs, then you can just give them to me. I will be more than happy to take those FRNs and trade them in for some silver art bars that I am looking to buy and add to my collection. ;D

Just kidding Heimdhal. ;D

cigarlover
5th May 2010, 03:51 AM
I'd like to add another 1000 oz later this year so I hope it keeps dropping.

Heimdhal
5th May 2010, 03:51 AM
I wish it'd drop like this for two more days so I can finaly get rid of the FRNS i've been stacking since february waiting for the price to come back down! :D


If you are trying to get rid of your FRNs, then you can just give them to me. I will be more than happy to take those FRNs and trade them in for some silver art bars that I am looking to buy and add to my collection. ;D

Just kidding Heimdhal. ;D








Ive got a couple 70's silver art bars my uncle gave me last year. I'll take some pics and post em up again. Im not as into them as you are, so a trade may be in order just yet! ;D

Heimdhal
5th May 2010, 03:52 AM
I'd like to add another 1000 oz later this year so I hope it keeps dropping.


I havent even broken 100 yet...total... :'( :'(

1970 Silver Art
5th May 2010, 04:23 AM
I wish it'd drop like this for two more days so I can finaly get rid of the FRNS i've been stacking since february waiting for the price to come back down! :D


If you are trying to get rid of your FRNs, then you can just give them to me. I will be more than happy to take those FRNs and trade them in for some silver art bars that I am looking to buy and add to my collection. ;D

Just kidding Heimdhal. ;D








Ive got a couple 70's silver art bars my uncle gave me last year. I'll take some pics and post em up again. Im not as into them as you are, so a trade may be in order just yet! ;D


That's cool. Take your time. I have some FRNs are I am trying to get rid of too and I might possibly be interested in them but I will have to see if they are on my '70's SAB "wish list". I had to turn down some offers recently because I am very picky on what '70's SABs that I want to add to my collection . You can PM me and I will see if they are on my "wish list".

Awoke
5th May 2010, 04:32 AM
I am not a SHTF prepper.


You should be.

Neuro
5th May 2010, 05:18 AM
I am not a SHTF prepper.


You should be.
Quoted for truth!

As for this particular drop, specifically for silver, could it be the PTB that are sort of trying to "jump start" the seasonal weakness this year? Personally I am not sure it is going to happen, but they may try very hard to achieve it, just to keep the fiat game rolling a bit further... At this point I am sitting tight, but I may choose to change some gold for silver if the ratio gets a bit higher.

gunDriller
5th May 2010, 06:00 AM
I wish it'd drop like this for two more days so I can finaly get rid of the FRNS i've been stacking since february waiting for the price to come back down! :D


another person who remembers February.

i remember February. silver @ $16, then silver @ $15.

when Andrew Maguire talked about the cram-downs & market manipulation in early Feb. 2010, i know what he's talking about. partially because i was watching.

actually the market acted sort of like it did yesterday May 4, 2010.

though i have to remind myself - especially after all the revelations of market manipulation, and the announcement of CFTC investigations (not that i expect it will be anything more than a show trial) ... $17 is the new $16. and it might go to $17 today.

1970 Silver Art
5th May 2010, 04:26 PM
It appears the DOG is taking an Epic Shit and it might take awhile for the DOG to finally crap out an Epic turd. That DOG stinks today but eventually the DOG will resume its run to $20 and then to $23 (or higher) on December 31, 2010. Believe it.

StackerKen
5th May 2010, 04:31 PM
smite whore; .......lmao.. ;)

It looks like the dog found its bottom(for now)

17.50 is not really so bad.


Thats still up a bit from my cost average

1970 Silver Art
5th May 2010, 04:34 PM
smite whore; .......lmao.. ;)

It looks like the dog found its bottom(for now)

17.50 is not really so bad.


Thats still up a bit from my cost average


The DOG appears to be recovering some but it is way too early to tell where it is headed. We will see what happens.

BTW Do not forget to smite me Stacker. See my sig. line. ;D

Heimdhal
5th May 2010, 05:03 PM
my cost average is 16.70 something. Its not great, so I am hesitant to buy above that amount, particularly when not but a couple months ago it was far below that.


In over two years I've been buying I've been seeing the cheerleading for $20+ silver "any day now!!!!" and "buy now, itll be 50 by the end of the year".

While its possible, we know the market is absurdly and wholly corrupted and manipulated so something tells me that rushing out to buy during a month long upswing isnt the soundest of finacial methods.

I'd buy physical in the 17's, but you cant really get physical in the 17's right now, so I'll wait.

Im not getting suckered into the "buy no matter what" mentality like I did in 08 where bought at $21+ to see it go to $9 a few months later. I simply cant afford a mistake like that again.

1970 Silver Art
5th May 2010, 05:09 PM
I do not even know what my current silver cost average is but I am guessing that my silver cost average is higher than most on this forum. I have been so busy buying silver art bars that I did not give myself a chance to update my cost average. I will eventually update it.

Steal
5th May 2010, 05:33 PM
Yeah, this smack down was kind of a surprise, ( I thought JPM did it a couple days before non farm payroll came out , Friday) anyway's, planned on it, so had a order filled for few rolls of prospectors ( not in production anymore, so when I can get them I do ) and few handfulls of 1 oz bars .Sold some gold to pay it, can not complain at a 68:1 ratio. Silver smacked hard, gold not budgin, worked out real well.

gunDriller
5th May 2010, 05:41 PM
just think how the markets will react to the prospect of a BP bankruptcy.

if they are held responsible for the damages from their oil well disaster, the tab could very easily grow to $100 billion+. i wouldn't be surprised to see it bankrupt them AND their insurance companies.

given that their engineers were caught off guard by the 70,000 psi oil they encountered when their drill broke through to the oil reservoir that is feeding the underwater gusher, i don't yet have a lot of faith in the "tiger team" they have assigned to fix the problem.

i was caught off guard myself this morning, Jesus, gold broke down to $1160 before i had all my coffee.

IHS
5th May 2010, 06:15 PM
Bob Chapman said today he thinks silver's getting hammered by JP Morgan, who is trying to unload their silver short positions because the DOJ is ready to nail them with a criminal indictment for market-rigging. ::)

This could get interesting.

Apocalypto
5th May 2010, 07:36 PM
The price dropped a bit, yeah that's great. Hey listen can anyone tell me where I can buy some silver? TIA.

Blink
9th May 2010, 02:37 PM
These small bumps in the road are not surprising in this weakening economic environment. The squeeze is on. The bankers are slowly being outed for they're manipulation of PM's. Fiat currency around the world is failing. Huge bailouts only weaken existing currencies in circulation. No one wants to buy crappy US treasuries or any other sovereign funds coming from central banking countries. Never in the history of this world has silver/gold lost a battle to an expanding fiat currency. Loss of $1.50, big deal...... The correction will come and all of this will be forgotten......

Fatboy
13th May 2010, 04:50 AM
The correction will come and all of this will be forgotten......


Done!