How about that silver?

[Amynamous]

flylowgethigh - btw, you nailed it with your observation of the increase in the M1 money supply by the last administration. I imagine a 500% increase in the money supply is going to be extremely difficult to unwind. I can’t help but wonder how much of that 16trillion ended up in Mnunchkin’s and/or Powell’s Panamanian bank accounts? Would anyone miss 0.0001 of that? That’s less than a rounding error.

 

[brickweeder]

I would love to buy more Silver...

Dont do it, Silver is a dog except for a short-lived run every 10 to 30 years.

 

[GOT_BUD?]

Dont do it, Silver is a dog except for a short-lived run every 10 to 30 years.

As long as you view it as a long term savings account and not a way to substantially grow your investment (Like many on Youtube claiming it will soon be $100/toz., which is baloney.), there's nothing wrong with buying more silver or any precious metal. If you want to grow your money, put it into the stock market or crypto.

Like the OP of this thread, I bought my first silver when it was $3-$3.50 an ounce in the late 90s. I'm banking on by the time I'm ready to retire, it will be a lot closer to $50 than it is now. But that's not why I stack.

I stack because money that stays in my bank account or in my wallet disappears faster than should be possible. With silver, it's more difficult to spend willy nilly. Being able to save $5-6,000 a year over 10-20 years adds up.

How I started was one 1 oz. coin per paycheck. That's 24-26 ozs. a year for most people. And you physically hold it. Which means you actually own it, instead of it being numbers on a computer screen.

It's fun negotiating the price of a car when you buying it with 100s of ounces of silver, let me tell you.

 

[St. Phatty]

Silver in 2021 is one of the most manipulated commodities in History.

It is a Specialized investment, because you are betting against the US gov.'s "Strong Dollar Policy". If you read their policy papers, they admit flat out, they intervene in international currency markets, including Gold and Silver.

It's not like investing in Latin translators or something. Depressing the price will cause shortages, and then it will get interesting.

But it's an investment that takes more patience than most investors have.

I plan to start buying again if the price falls to $18.50 an ounce.

 

[brickweeder]

I have one buy order in at 21.50, two at 20.50, and three at 19.50. If silver hits 18.50, I am gonna buy some AG and SLV leaps.
i like paper silver because there are no premiums or storage fees, and I can sell them at the push of a few keys. That being said, inflation is here and it is embedded...we just haven't yet experienced the oh shi@t moment that will kickoff the mad scramble for physical. But I think we are very close to that moment. I'm not sure that they can hit the PMs as badly as the March 2020 mega smack down that took silver below its cost of production, so if we see 18.50 again (I don't think we do...I think the march 2020 major low was it), i'm going to buy larger positions that I will sell at 35, 37.50, 40, 42.5, 45, 47.5, and 50. Then we wait so see if silver levels up from the 50 ceiling. Mega runs dont come but 1x or 2x per lifetime, and it feels like we are close...

 

[Amynamous]

I have one buy order in at 21.50, two at 20.50, and three at 19.50. If silver hits 18.50, I am gonna buy some AG and SLV leaps.
i like paper silver because there are no premiums or storage fees, and I can sell them at the push of a few keys. That being said, inflation is here and it is embedded...we just haven't yet experienced the oh shi@t moment that will kickoff the mad scramble for physical. But I think we are very close to that moment. I'm not sure that they can hit the PMs as badly as the March 2020 mega smack down that took silver below its cost of production, so if we see 18.50 again (I don't think we do...I think march 2020 was it), i'm going to buy larger positions that I will sell at 35, 37.50, 40, 42.5, 45, 47.5, and 50. Then we wait so see if silver levels up from the 50 ceiling. Mega runs dont come but 1x or 2x per lifetime, and it feels like we are close...

Go all in
AGQ Leaps!

 

[brickweeder]

...I stack because money that stays in my bank account or in my wallet disappears faster than should be possible. With silver, it's more difficult to spend willy nilly. Being able to save $5-6,000 a year over 10-20 years adds up.

this is so true, its funny.

...How I started was one 1 oz. coin per paycheck....And you physically hold it. Which means you actually own it, instead of it being numbers on a computer screen.

yeah, computer screens are for making monopoly money, its up to the end user to convert it...most don't until the price runs way up.

...It's fun negotiating the price of a car when you buying it with 100s of ounces of silver, let me tell you.

I would think the dealer would say, "sorry cash, credit, or other fiat currency only"...G_B, can you summarize how that negotiation went down?? A real world case of silver payment for a high value item would be interesting.

 

[brickweeder]

Go all in
AGQ Leaps!

Dude, are you trying to get to Mars before Musk?

 

[Amynamous]

Dude, are you trying to get to Mars before Musk?

 

[GOT_BUD?]

this is so true, its funny.

...How I started was one 1 oz. coin per paycheck....And you physically hold it. Which means you actually own it, instead of it being numbers on a computer screen.

yeah, computer screens are for making monopoly money, its up to the end user to convert it...most don't until the price runs way up.



I would think the dealer would say, "sorry cash, credit, or other fiat currency only"...G_B, can you summarize how that negotiation went down?? A real world case of silver payment for a high value item would be interesting.

This was in 2008 after the price shot back up. Older, independent car dealerships might still do it. When it came to closing, I just asked if silver at spot was something they'd consider for payment. Salesperson was skeptical, but the manager was all in. He was an older guy in his 60s. He went on a 10 minute diatribe about how today's money was crooked and the entire game was now fixed. That silver, gold, and land were the only true measures of a man's wealth. Funny old coot. Can't say I disagreed with him.

The process took just a few extra hours to verify everything was in fact silver. But it went pretty much like any other car I've bought.

 

[brickweeder]

This was in 2008 after the price shot back up. Older, independent car dealerships might still do it. When it came to closing, I just asked if silver at spot was something they'd consider for payment. Salesperson was skeptical, but the manager was all in. He was an older guy in his 60s. He went on a 10 minute diatribe about how today's money was crooked and the entire game was now fixed. That silver, gold, and land were the only true measures of a man's wealth. Funny old coot. Can't say I disagreed with him.

The process took just a few extra hours to verify everything was in fact silver. But it went pretty much like any other car I've bought.

Sweet.

Nowadays, the dealers will be "Silver? F that! Got bitcoin? "

Silver is closing in on my next buy, Its nice to see that silver and gold are effectively serving as inflation hedges in this inflationary environment...

 

[h.h.]

If you buy precious metals, you’re giving away at least 10% of your money in future commissions.

 

[GMT]

No one talks about copper. It has the same anti viral anti bacterial properties as silver does, but costs a hell of a lot less. I can see the old brass fittings coming back into fashion soon. Push plates, door handles, light switches and the like all self cleanse themselves within 4 hours, yet we use plastic or stainless steel more often now. If brass does make a comeback in all hospitals, office blocks and public places, it's going to push copper prices way up.

 

[flylowgethigh]

this is so true, its funny.



This was in 2008 after the price shot back up. Older, independent car dealerships might still do it. When it came to closing, I just asked if silver at spot was something they'd consider for payment. Salesperson was skeptical, but the manager was all in. He was an older guy in his 60s. He went on a 10 minute diatribe about how today's money was crooked and the entire game was now fixed. That silver, gold, and land were the only true measures of a man's wealth. Funny old coot. Can't say I disagreed with him.

The process took just a few extra hours to verify everything was in fact silver. But it went pretty much like any other car I've bought.

A guy I know got $5000 down payment credit on a new Rousch supercharged Mustang at the dealership. This was at the 2011 peak (I shoulda sold then also). Dealer asks what he is gonna use as a down payment, and he flopped the bar on the desk and said "this". They took it. He wrecked the Mustang a few years later.

 

[brickweeder]

If you buy precious metals, you’re giving away at least 10% of your money in future commissions.

plus you are paying 10% over spot for the premiums when u buy....paper silver is better than the actual metal...for trading purposes.

 

[brickweeder]

No one talks about copper. It has the same anti viral anti bacterial properties as silver does

yeah but copper can't reverse a fem.

Silver price action today was great once the Feds press conference was completed...basically a turn around on what was sure to be a down day. This may be the start of a more sustained up-move because this bounce is occurring right at the bottom rail of what hopefully is a consolidation pattern that will give way to the upside (break above 30). If this happens, its going to be a run to remember, and to book some profits.

 

[Tudo]

Overpriced

 

[brickweeder]

Overpriced

Then short it

 

[Tudo]

Nah, was in the business for 40+ years. What excited me now is a particular beach in collier county

 

[brickweeder]

I'll short it at higher prices...watch out for storm surges.