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Thread: Silver Hits 30 Year High

  1. #1
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    Default Silver Hits 30 Year High

    Silver has hit a 30 year high.
    I hate to be an "I told ya so" --- but



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  2. #2
    Senior Member Uncle Bill's Avatar
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    Quote Originally Posted by Doc E View Post
    Silver has hit a 30 year high.
    I hate to be an "I told ya so" --- but



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    Are you still buying, Doc?


    It's hard to keep that $4 stuff in the safe, but where else would you put it?

    Same is true with my $350 AU. Would be nice to take some profits, but what would I do with the paper? Too old to get back into 'playing' the nasdaq again. And the farm commodities are far too volatile for me to keep tabs on. The energys are equally so. I'm just not that nimble anymore.

    Good luck to you. This is going to be a real rollar coaster ride.

    UB
    When the one you love becomes a memory, that memory becomes a treasure.

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    Senior Member dnf777's Avatar
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    I can still hear Burle Ives singing "Silver and Gold"....

    good advice even back then
    God Bless PFC Jamie Harkness. The US Army's newest PFC, but still our neighbor's little girl!

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    Senior Member BonMallari's Avatar
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    my sister worked for the Hunt Bros. in DFW back when Nelson and his brother William tried to corner the silver market in the late 70's, they made a ton of money and gave big bonuses to all the clerical staff at the time...
    All my Exes live in Texas

    Quote Originally Posted by lanse brown View Post
    A few things that I learned still ring true. "Lanse when you get a gift, say thank you and walk away. When you get a screwing walk away. You are going to get a lot more screwings than gifts"

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    Senior Member Uncle Bill's Avatar
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    Quote Originally Posted by BonMallari View Post
    my sister worked for the Hunt Bros. in DFW back when Nelson and his brother William tried to corner the silver market in the late 70's, they made a ton of money and gave big bonuses to all the clerical staff at the time...

    I have to LOL when I read this reminder of those times. I was in the Lariat clothing store having owner Mick Mudlin outfit my dad with a western outfit, and a new Stetson. We had come in early so we were astounded when a couple of SD School of Mines students come screeching to a halt in front of the store, jump out and dash into the store and stop at the 'jewelry' counter. They breathlessly bought all of Mick's big buckles, torquoise/siver bracelets and necklaces, even his silver tipped leather slip ties so popular among western wear folks.

    We asked if they were outfitting some "dudes". They laughed, and said they can make a bundle on melting down the silver in the jewelry, and sell it on the spot metal market. At the time, the Hunt's, much like the day traders in oil today, had run the price of silver to almost $50/ounce.

    Unfortunately for the Hunt brothers, they weren't successful, and ended up losing a bundle, but it was an exciting time to be in the precious metals game.

    UB
    When the one you love becomes a memory, that memory becomes a treasure.

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    Senior Member Goose's Avatar
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    When does $.25 equal $5.90

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    Quote Originally Posted by Uncle Bill View Post
    Are you still buying, Doc?

    It's hard to keep that $4 stuff in the safe, but where else would you put it?

    Same is true with my $350 AU. Would be nice to take some profits, but what would I do with the paper?

    This is going to be a real rollar coaster ride.

    UB
    UB

    I'm 67 years old, but still working (28 hours a week), so most of my investing days are over. Just waiting to start spending some of my retirement money when I decide to actually quit working (might be awhile though -- I'm still enjoying being at the office and we have a lot of fun there too). If I was young and looking to invest, I'd definitely be putting money into Silver, even at today's prices.

    I was looking at some of our $1.75 Sterling and $66 AU last night.

    Gold has basically just held it's own against the us $ (and I think that will continue). Silver has definitely been (and will continue to be) the best investment. Personally, I see Silver being $45 to $50 within a couple years, so there's still time to make $15 to $20 an ounce
    (can you say 50% interest for a two year investment? Hard to find an investment better than that).

    I might just have to start selling some then. If you cash in your metal, you need to buy something material (or take a trip or something) with it fairly fast. The paper is becoming more worthless by the minute.

    A few months ago, one of my employees asked me where she should put a little of her retirement money. I suggested Silver. She bought two Kilos ---- She thinks I'm a genious .



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    Last edited by Doc E; 02-19-2011 at 10:21 AM.

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    Senior Member Uncle Bill's Avatar
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    Quote Originally Posted by Goose View Post
    When does $.25 equal $5.90

    Are you talking a Kennedy pre-65 quarter perchance? That's my guess. Wish I would have held my Kennedy quarters, but sold them a few years ago when silver had a run up to $20. Forget why exactly, but must have needed the cash at the time.

    Also got rid of a batch of Kuggerands. Got worried they might be targeted for confiscation down the road, but should have held them also, or traded them for Maple Leafs...or US Eagles. That's all I'm holding today. They are about as liquid as any paper today.

    UB
    When the one you love becomes a memory, that memory becomes a treasure.

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    Senior Member Goose's Avatar
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    Quote Originally Posted by Uncle Bill View Post
    Are you talking a Kennedy pre-65 quarter perchance? That's my guess. Wish I would have held my Kennedy quarters, but sold them a few years ago when silver had a run up to $20. Forget why exactly, but must have needed the cash at the time.

    Also got rid of a batch of Kuggerands. Got worried they might be targeted for confiscation down the road, but should have held them also, or traded them for Maple Leafs...or US Eagles. That's all I'm holding today. They are about as liquid as any paper today.

    UB
    You are correct, sir but I believe it's pre-64. Those little babies are 90% silver so don't take them down to the CoinStar machine for cash! (speaking of coinstar...they charge something like 9% to count coins!!!)

    Sadly, I think the government will make it illegal to own precious metals like gold and silver once Obama completes his mission of debauching the currency.

    We live in Cuba now.

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    Quote Originally Posted by Doc E View Post
    A few months ago, one of my employees asked me where she should put a little of her retirement money. I suggested Silver. She bought two Kilos ---- She thinks I'm a genious .
    Working if you enjoy what you do is good for you. I still sell at the Farmers markets & a few select shows. Enjoy the type of people who are there. A few years back saw a Irish conglomerate that did pharma research priced @$1.125, bought a lot as did my oldest son. Went to $30 in 3 years, sold the majority of it, hard to beat that for a quick return. Still sits around $6.

    Quote Originally Posted by Uncle Bill View Post
    Are you talking a Kennedy pre-65 quarter perchance? That's my guess. Wish I would have held my Kennedy quarters, but sold them a few years ago when silver had a run up to $20. Forget why exactly, but must have needed the cash at the time.

    Also got rid of a batch of Kuggerands. Got worried they might be targeted for confiscation down the road, but should have held them also, or traded them for Maple Leafs...or US Eagles. That's all I'm holding today. They are about as liquid as any paper today.

    UB
    UB - I have around 20 pounds of assorted old siver coins including about 140 AG $. They sit in my SD box as I don't need the cash. My take is AG is an industrial metal, while AU is decorative, as the price increases more collections will hit the melting pot to dampen price appreciation. I don't see it ever hitting Hunt ($70) country, though that would be nice & I would probably sell then.
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