iShares Silver Trust (SLV)

[freakscene]

anyone other Silver fans out there?

nice move finally today.

http://finance.yahoo.com/q?s=SLV

personally, i cant own enough of the stuff, whether its paper, junk, or bars

[pa-sale]

I like silver a lot. I like to take possession of it though, would rather have the metal here than a piece of worthless paper should things get wild. 100 oz and 1000 oz bars are the way to go for long term holders, 90% coins are more liquid for those looking to make a lot of moves.

[freakscene]

i agree about possession

i'm doing it all though !

a coworker thinks im silly suggesting fiat money will never go away blah blah blah, but for some reason he wont sell me the little he has at spot ;)

[smartinvestor30]

anyone other Silver fans out there?

nice move finally today.

http://finance.yahoo.com/q?s=SLV

personally, i cant own enough of the stuff, whether its paper, junk, or bars

www.ampex.com

I'm placing my order today and I should have it in a week or two, there a delay on the buffalo coins though,

$1.49 over spot :(

it has to go up about 20% for me to break even

[smartinvestor30]

www.ampex.com

I'm placing my order today and I should have it in a week or two, there a delay on the buffalo coins though,

$1.49 over spot :(

it has to go up about 20% for me to break even

oops!

www.apmex.com

[freakscene]

anything under 20 is still a buy in my opinion.

even the premium on silver eagle ounces, if the total is under 20, i pick some up.

i get mine from a local coin store so i dont have to pay for shipping.

looks like another strong day again.

http://www.kitco.com/market/

[smartinvestor30]

anything under 20 is still a buy in my opinion.

even the premium on silver eagle ounces, if the total is under 20, i pick some up.

i get mine from a local coin store so i dont have to pay for shipping.

looks like another strong day again.

http://www.kitco.com/market/

Yeah I was thinking about that but the premium on the silver eagles is too high IMO. I would buy under $15 now, I'm going to continue to increase my gold and silver holding at each pull back.

The thing about the Silver eagles is that you end up paying too high a premium over spot due to the perceived numismatic value. So I went the other route and got no name coins from apmex.com because the end result is the same when you melt a silver eagle or a no-name coin. Plus why destroy the "legal tender" currency and break the law when you can have the same end result with the other coins.

[freakscene]

. I would buy under $15 now, I'm going to continue to increase my gold and silver holding at each pull back.

thats about what i get the 1 oz bars for at the same store now.

[smartinvestor30]

thats about what i get the 1 oz bars for at the same store now.

I was going to place another order for physical silver because I have too much cash laying around in my brokerage acct but I just went and bought up a little SLV.

I think I'll wait for it to hit $20 then take half my shares off the table and put that money into silver bullion.

[smartinvestor30]

^^

In addition:


What made my buy SLV instead of the coins right now is that my break even point on the physical silver is about 14.25/oz!!!! Vs owning SLV where I'm in the money if it ticks up :)

But you have to keep in mind that the premium paid for the physical silver guarantees that I eliminate any counter party risk. The only risk I hold is that it gets stolen/confiscated or that I can't find a buyer when I want to sell it later, whether that be for cash or barter.

[freakscene]

http://stockcharts.com/h-sc/ui?s=SLV&p=DAILY&b=5&g=0&id=p72408791456

creeping on up.

:)

[freakscene]

boom

http://finance.yahoo.com/q?s=SLV

its still cheap

buy more buy more buy more

[freakscene]

Silver and Gold ETFs...Locked and Loaded

http://finance.yahoo.com/news/Silver-and-Gold-ETFsLocked-tm-14142579.html

[freakscene]

http://finance.yahoo.com/q?s=slv

over 12.20 and climbing

still cheap

buy more buy more buy more ;)

[smartinvestor30]

:)

:)

:)

Up $216 since I bought on Wednesday on SLV

If you didn't get in you missed out. I got in at $11.07 and added on at some other prices to get a avg price of $11.51

Currently at $12.28 ;)

[Gordo]

:)

:)

:)

Up $216 since I bought on Wednesday on SLV

If you didn't get in you missed out. I got in at $11.07 and added on at some other prices to get a avg price of $11.51

Currently at $12.28 ;)

Keep us posted next week.

[freakscene]

up over 15% since i made the thread, on increasing volume. bounced right off the MA 50

http://stockcharts.com/h-sc/ui?s=SLV&p=DAILY&b=5&g=0&id=p68968492121

[Rynn]

I'm holding some SLV but I'm planning to sell it, because I'm worried that demand for gold will drive down silver prices.

The ratio of silver to gold in mineral deposits is generally between 20:1 and 50:1. But current prices are about 70 to 1 in favor of gold. Basically, the silver isn't worth as much per ton of material mined. The current high demand for gold is driving up producton, which results in an oversupply of silver.

[Gordo]

Nice nugget Ryan.

Anybody......how liquid is gold if **it hits the fan? Then, what happens when the government bans the ownership of gold?

[pa-sale]

Gordo-

When you say gold are you referring to an ETF or having actual possession of the gold? The etf is simply paper and you have just that if **** hits the fan. If you have gold bars/coins/bullion, those can be much more liquid. However, watch out for the size of the bar you purchase. Big bars, i think 1000 oz or more require an IRS form and you will pay gains on it. 1 oz coins , 10 oz bars are liquid and no paper work is needed. Most jewelers will purchase them or coin collectors.

It is good to find sources who will purchase your items prior to selling in case things get bad quickly.

[Gordo]

I am referring to physical gold. If the object of having gold is for capital appreciation/preservation during 'crisis', how do you spend it without converting to paper? The governmental banning of gold is a concern too.

[freakscene]

Nice nugget Ryan.

Anybody......how liquid is gold if **it hits the fan? Then, what happens when the government bans the ownership of gold?

any government "bans" will be largely ignored like they were before.

i forget the %, but very few people actually turned in their gold.

i certainly wont, if they try

[freakscene]

I am referring to physical gold. If the object of having gold is for capital appreciation/preservation during 'crisis', how do you spend it without converting to paper? The governmental banning of gold is a concern too.


if and when the proverbial **** hits the fan (collapse of the dollar), silver coins is what you want.

pre 1965

and plenty of them

gold for larger purchases

[freakscene]

http://www.reuters.com/article/marketsNews/idAFL472863120090204?rpc=44

LONDON, Feb 4 (Reuters) - The world's largest silver-backed exchange-traded fund, the iShares Silver Trust SLV.A, said its bullion holdings rose a further 77 tonnes or 1 percent on Feb 3.

The New York-based trust, which issues securities backed by physical stocks of silver, now holds a record 7,530.2 tonnes of bullion, up 737 tonnes or 11 percent since Jan 2. (Reporting by Jan Harvey; Editing by James Jukwey)

[freakscene]

Something new stirring in precious-metals pond
Commentary: Silver's rise has letters watching for more bull-market signs

http://www.marketwatch.com/news/story/something-new-stirring-precious-metals-pond/story.aspx?guid={7E03466F-6C1F-4CE4-B0BA-88CB3DB20D63}&siteid=yhoof

But what has really got the gold letters excited is silver. Unusually, it defied the gold example and rose 4.5% to a new high for the year: $13.155 for the nearby Comex contact.

In a real bull market, the silver/gold ratio generally falls. That seems to be is what is happening now.

As James Turk puts in his Freemarket Gold and Money Report: "Last year, the gold/silver ratio repeatedly tested overhead resistance in the low 80s ... The ratio closed on Friday at 69.5. So from its highest peak the ratio has dropped 17.6%, which is by any measure a very healthy gain achieved in less than four months." See Website

Turk goes on to predict the ratio will go to 40 and eventually see the 1980 extreme below 20. Given the current gold price, this implies a silver price of $45.
See Website

Le Metropole Cafe's Bill Murphy is characteristically more colorful. He headed his Friday commentary "It's Rock 'N' Roll Time For Silver The Mule, Moonshot Ahead.".

He points out that there is actually an investigation into the long-alleged manipulation of the silver market. (Murphy and his writers claim gold has been manipulated, too). He suggests hopefully that, after Madoff mess, regulatory agencies may be more aggressive. See Website
Silver stock plays are hard to find.


The move in the silver ratio means sentiment toward the whole sector is changing. And bystanders are noticing. Thus Pring, who is not truly a gold bug but does monitor the metal, carries an interesting chart in his current InterMarket Review. He writes: "This series monitors our Global Gold Index, a composite of dollar, euro, and yen gold weighted by GNP.

It broke decisively above a very significant trendline and registered an all-time high in January ... There is a message here and it's not very complimentary to the central bank community. Oh Ben and Barack, what have you done?"

Depressingly, Pring's aspersion on America's old and new financial leadership is now widely shared by gold-sensitive letters.

Another new development: This is a Western Hemisphere rally. Le Metropole Cafe reports that India, the world's biggest gold consumer and a supporter of this rally for most of the decade, is not currently buying. In contrast, India was a major buyer at gold's lows in the fall. See Oct. 26 column

But U.S. dealers, according to their websites, are still bidding well above spot for bullion coin - particularly silver.

[freakscene]

http://stockcharts.com/h-sc/ui?s=SLV&p=DAILY&b=5&g=0&id=p10458274653

i just dont have the skills to swing 20%'ers like aiki and X do in a day or less, but i'm rather happy with this one so far

+23% and counting

[Gordo]

http://stockcharts.com/h-sc/ui?s=SLV&p=DAILY&b=5&g=0&id=p10458274653

i just dont have the skills to swing 20%'ers like aiki and X do in a day or less, but i'm rather happy with this one so far

+23% and counting

Are you taking profits?

[freakscene]

not yet

i keep tightening stops though to protect profits

until the trend shows a reason for breaking, thats what i will continue to do.

[freakscene]

Are you taking profits?

http://stockcharts.com/h-sc/ui?s=SLV&p=D&b=5&g=0&id=p08927723780

if it looks like its going to end in a doji at the MA 200, im out at close for around 21%

[freakscene]

spot is through 14

http://www.kitco.com/market/

[smartinvestor30]

I'm up about 20% on my SLV trade (not to mention the physical silver I bought ;) )

I don't think I will get rid of my silver, I think I might sell SLV and convert to real silver coins (though the mark-up is insane!!!!!!!!!!!!!!!!!!!!!!!!!)

I only bought 500 SLV :( not bad having an extra $1000 off this simple trade but I really wish I would've bought more

[freakscene]

you can

its still a value

i understand your dilema as i am torn between wanting it to stop so i can buy more bullion at yesterdays price, yet watching the EFT rocket up based on our pitiful Federal governments response to the current climate, and laughing at how easy this one was.

[smartinvestor30]

you can

its still a value

i understand your dilema as i am torn between wanting it to stop so i can buy more bullion at yesterdays price, yet watching the EFT rocket up based on our pitiful Federal governments response to the current climate, and laughing at how easy this one was.


The only thing is I'm not sure if I want to keep that in my investment acct incase I need to switch out of it and just use cash in my bank to purchase the 500oz of silver, but then I'm another $7,000 into silver :embarassed:

The other problem is I lose the difference in spot price and SLV price currently $0.26cents (14.42-$14.16) plus pay the premium over spot!!!!!!!!!!!!!!!!!!!

I'm going to sell 500 and ($14.16x500) get $7,080

but the cost of order 500 10oz bars is $7,855. So about $800 more!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!

[pa-sale]

Had some Johnson Matthey bars delivered today. Talked with a big time dealer and he has been selling to other dealers at $3.50-4 over spot.. who they then turn around and tack on another $2+. Some 10oz bars on ebay go for over 200 right now!

[freakscene]

Had some Johnson Matthey bars delivered today. Talked with a big time dealer and he has been selling to other dealers at $3.50-4 over spot.. who they then turn around and tack on another $2+. Some 10oz bars on ebay go for over 200 right now!

really ? damn

i still think i can get 10's around 170 from the dealer down the street

[pa-sale]

really ? damn

i still think i can get 10's around 170 from the dealer down the street

I am sure you know this but mint does matter. Johnson Matthey command top dollar versus other stamped bullion. If you can get JM for 170 let me know.. we might have to work a deal.

[freakscene]

i am not certain what NY mints he carries, but i will look this weekend when i get home from this lame business trip.

[smartinvestor30]

I am sure you know this but mint does matter. Johnson Matthey command top dollar versus other stamped bullion. If you can get JM for 170 let me know.. we might have to work a deal.

Why does it matter? When it's melted it's still .999 silver :confused:

[Florida]

I think the Lone Ranger is selling his silver bullets due to the recent move up. He sold a bunch of them back in the early '80's and the rest of them now, knowing full well the price will crash soon, and may never get back up here again.

A recent article I read indicated that by far the biggest buyer of physical silver, (and for that matter, gold too), has been the ETF's. There is no increase in demand for the metal itself, and in fact, a considerable fall off in demand both for industrial purposes and jewelry. (sorry, I can't seem to find the link).

The move up in gold and silver is simply speculative, and when it does turn down, and it will, I would much prefer to hold the ETF and be able to sell it in an instant, and not have to try and get rid of it through a dealer or ebay.

It's been a great run, and those that own it should have some good profits, but don't let those profits turn to dust, it will fall faster than it ran up.

[pa-sale]

Why does it matter? When it's melted it's still .999 silver :confused:

The majority of silver holders do not actually think they will need it as a form of currency. The vast majority is holding for inflation and a true store of value.

The mint simply represents a good faith value that people pay a premium for. Known fact.

[freakscene]

A recent article I read indicated that by far the biggest buyer of physical silver, (and for that matter, gold too), has been the ETF's. There is no increase in demand for the metal itself, and in fact, a considerable fall off in demand both for industrial purposes and jewelry. (sorry, I can't seem to find the link).




i would be very much interested in reading that. it goes against what i witness personally.

ebay sales of actual silver are hardly short of buyers (even at above spot when you include shipping !), and the dealer i get it from is seeing quite a bit of new buyers like he did pre-Y2K

i dont believe that its entirely ETF's at all, but i will agree its a spec play

a spec play on inflation and a fiat currency that could be worthless.

[Florida]

i would be very much interested in reading that. it goes against what i witness personally.

ebay sales of actual silver are hardly short of buyers (even at above spot when you include shipping !), and the dealer i get it from is seeing quite a bit of new buyers like he did pre-Y2K

i dont believe that its entirely ETF's at all, but i will agree its a spec play

a spec play on inflation and a fiat currency that could be worthless.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLK6499520090220

http://www.bloomberg.com/apps/news?pid=20601012&sid=aRwi7wv80pGo

These are not the exact ones I was looking for, but they still back up the general idea.

Ebay sales and buyers at your local store support my theory that it is PURELY speculative. There is no real market for gold and silver, and a speculative market cannot hold.

Like I said in my earlier post, some should have some great profits, don't let them slip away, because when it starts down, the floor will fall from beneath it. And, I would much rather be able to push a button and sell in a hurry, as opposed to listing on ebay, or loading it up and going to the local dealer to see what they are willing to give me.

[freakscene]

thanks for the links florida. i'll read them as soon as i can

i like my approach - which is play both.

ive been buying in small quantities for decades, and the worse thing that will happen by owning the physical silver and gold is that i'll leave a bunch of phyiscal silver and gold to my kids when i die.

is that so bad? i bet they wont mind very much.

however, if fiat crashes and us survivalists are right.............................

[Florida]

thanks for the links florida. i'll read them as soon as i can

i like my approach - which is play both.

ive been buying in small quantities for decades, and the worse thing that will happen by owning the physical silver and gold is that i'll leave a bunch of phyiscal silver and gold to my kids when i die.

is that so bad? i bet they wont mind very much.

however, if fiat crashes and us survivalists are right.............................

If you have been buying in small quantities over decades, you are in great shape, but I would not be buying it now.

As for leaving it to the kids, I believe in spending their inheritance, but if I were to want to leave something to them, I would prefer stocks. Look back at the charts, the last time silver was at this level was in 1980, when the S & P was in the low 100's. 700% return on stocks, vs about break even on silver.

[freakscene]

your approach assumes that the current administration will leave some semblence of capitalism when they are finished

i have difficulty believing that

i do feel vindicated by their actions only over the last 2 months based on my warnings pre election.

not only has it been what i expected, it might actually be worse

i had a small glimmer of hope that pragatism might prevail every now and then.

someone let me know if they see it

[freakscene]

looking for another entry based on the newly printed trillion dollars out of thin air

http://stockcharts.com/h-sc/ui?s=SLV&p=D&b=5&g=0&id=p4941714367

large volume yesterday, RSI crossing above 50 from below. like to see it close above the MA 200 today then make a run at the recent 14.50 high again

[freakscene]

Silver's discount to gold sticks out like sore thumb


http://www.marketwatch.com/news/story/silvers-discount-gold-sticks-out/story.aspx?guid=%7BC0A2E965%2D87CE%2D4676%2D8A55%2 DE0B3BF3DBD3E%7D&siteid=yhoof

[freakscene]

http://stockcharts.com/h-sc/ui?s=SLV&p=D&st=2009-01-01&id=p72408791456

nice looking chart, YTD