What's going on with silver?

Discussion of the Gold portion of the Permanent Portfolio

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Ad Orientem
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Re: What's going on with silver?

Post by Ad Orientem » Tue Aug 27, 2019 10:32 am

Silver has breached $18.00 oz.
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Re: What's going on with silver?

Post by dualstow » Thu Aug 29, 2019 2:47 pm

Two detectorists in England found enough Norman silver coins to give Ad O a treasure bath -

https://www.bbc.com/news/uk-england-somerset-49487078
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Re: What's going on with silver?

Post by Kriegsspiel » Thu Aug 29, 2019 3:40 pm

dualstow wrote:
Thu Aug 29, 2019 2:47 pm
Two detectorists in England found enough Norman silver coins to give Ad O a treasure bath -

https://www.bbc.com/news/uk-england-somerset-49487078
That's cool as shit, coins with William the Conqueror and King Harold.

This part is a big downer though:
Under the Treasure Act 1996, finders of potential treasure in England, Wales and Northern Ireland are legally obliged to notify their local coroner
An inquest then determines whether the finds constitute treasure
The act contains a number of definitions of "treasure", including prehistoric objects, coins that contain gold or silver and are at least 300 years old, or more recent valuable objects that have been deliberately hidden
If the find is declared treasure, the finder must offer it for sale to a museum at a price set by the British Museum's Treasure Valuation Committee
Hmm, I wonder what they think a fair price is?
If the hoard is officially declared as treasure, the Roman Baths in Bath hopes to acquire the coins.

Stephen Clews, from the Roman Baths, said: "If you look at the true value of this, it's about 500 sheep - that's what you would have been to able to buy with them about 1,000 years ago.

"So what we need to do is translate that into some sort of modern value."
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH
"You haven't, I suppose, ever mixed with politicians at close quarters. They're awful. I think some of these must have been the dregs anyhow, but I've discovered, what previously I didn't believe possible, that politicians behave in private life and say exactly the same things as they do in public. Their stupidity is inhuman.
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Re: What's going on with silver?

Post by dualstow » Thu Aug 29, 2019 9:12 pm

btw, as you can guess, coroner does not mean over there what it means in the U.S. I learned that watching the hilarious and charming British show, ‘Detectorists.’
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Re: What's going on with silver?

Post by Ad Orientem » Tue Sep 03, 2019 8:26 pm

Wow. Silver blew right past $19 oz. And fwiw, silver is decoupling from gold. It won't last of course. But recently silver has been going up pretty much regardless of what gold has been doing. It took a while but I think some of the big boys have figured out that silver is still somewhat cheap relative to gold. That said, the silver gold price ratio has dropped below 80:1 for the first time since I started buying a little over a year ago. While I still think there could be more upside, I am not buying anymore. Below 80:1 silver is a hold in my book.
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Re: What's going on with silver?

Post by ochotona » Wed Sep 04, 2019 3:47 pm

I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
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Re: What's going on with silver?

Post by Ad Orientem » Thu Sep 05, 2019 10:29 am

ochotona wrote:
Wed Sep 04, 2019 3:47 pm
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
Wow. You timed that well.
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Re: What's going on with silver?

Post by ochotona » Thu Sep 05, 2019 11:31 am

Ad Orientem wrote:
Thu Sep 05, 2019 10:29 am
ochotona wrote:
Wed Sep 04, 2019 3:47 pm
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
Wow. You timed that well.
I think this belongs in the "what have we learned over the past ten years thread" - Nothing goes up in a straight line. You simply have to sell or partially sell geometric moves up.
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Re: What's going on with silver?

Post by Ad Orientem » Fri Sep 06, 2019 1:58 pm

The last 48 hrs... Looks like someone beat the snot out of silver with the ugly stick.

I need to turn off the TV and computer, and go find a good book to read.
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Re: What's going on with silver?

Post by Smith1776 » Fri Sep 06, 2019 2:58 pm

Excellent. I was hoping for an opportunity to add to my physical collection today. ;)
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Re: What's going on with silver?

Post by dualstow » Fri Sep 06, 2019 3:00 pm

I have a Queen's Beasts silver coin from a year ago that's already starting to tarnish on the edges. I use cotton gloves now, but I think I'm done buying silver, except that which I'll give away.
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Re: What's going on with silver?

Post by Smith1776 » Fri Sep 06, 2019 3:08 pm

dualstow wrote:
Fri Sep 06, 2019 3:00 pm
I have a Queen's Beasts silver coin from a year ago that's already starting to tarnish on the edges. I use cotton gloves now, but I think I'm done buying silver, except that which I'll give away.
The tarnishing is an absolute pain.

The bullion dealer I favour gives out these free little plastic sleeves that fit quite tight around the surfaces of the coins... that has seemed to help some.

I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." - Alan Greenspan, 1966
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Re: What's going on with silver?

Post by dualstow » Fri Sep 06, 2019 5:40 pm

Smith1776 wrote:
Fri Sep 06, 2019 3:08 pm
...
I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.
I don’t know, because I’ve never stacked them on my desk. O0 I don’t have any silver larger than a coin, and I only have about 30 coins.
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Re: What's going on with silver?

Post by Ad Orientem » Fri Sep 06, 2019 6:21 pm

Smith1776 wrote:
Fri Sep 06, 2019 3:08 pm

I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.

Image

Damn. Now I want to buy more.
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Re: What's going on with silver?

Post by ochotona » Sat Sep 07, 2019 6:25 am

Nothing beats the 100 oz bar. It has amazing fondle characteristics. If we get a good price dip, think about getting one. The premium over spot is lower.
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Re: What's going on with silver?

Post by Kriegsspiel » Sat Sep 07, 2019 7:27 am

You guys made me go look at some silver. Like ocho implied, the premium is definitely higher than gold, about double. They look cool though.
"You haven't, I suppose, ever mixed with politicians at close quarters. They're awful. I think some of these must have been the dregs anyhow, but I've discovered, what previously I didn't believe possible, that politicians behave in private life and say exactly the same things as they do in public. Their stupidity is inhuman.
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Re: What's going on with silver?

Post by Ad Orientem » Sat Sep 07, 2019 12:23 pm

ochotona wrote:
Sat Sep 07, 2019 6:25 am
Nothing beats the 100 oz bar. It has amazing fondle characteristics. If we get a good price dip, think about getting one. The premium over spot is lower.

I have a friend who let me hold one of his and I suddenly understood the look in his eyes suggestive of animal lust.
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Re: What's going on with silver?

Post by ochotona » Sat Sep 07, 2019 2:50 pm

Ad Orientem wrote:
Sat Sep 07, 2019 12:23 pm
ochotona wrote:
Sat Sep 07, 2019 6:25 am
Nothing beats the 100 oz bar. It has amazing fondle characteristics. If we get a good price dip, think about getting one. The premium over spot is lower.

I have a friend who let me hold one of his and I suddenly understood the look in his eyes suggestive of animal lust.
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Re: What's going on with silver?

Post by dualstow » Sat Sep 07, 2019 3:42 pm

We're still talking about silver here, right guys? ???


O0
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Re: What's going on with silver?

Post by Ad Orientem » Sat Sep 07, 2019 3:55 pm

LOL
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Re: What's going on with silver?

Post by ochotona » Fri Sep 13, 2019 1:36 pm

Whoa...
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Re: What's going on with silver?

Post by Ad Orientem » Fri Sep 13, 2019 2:40 pm

M U S T B E S T R O N G- M U S T N O T B U Y 100 OZ B A R
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Re: What's going on with silver?

Post by dualstow » Mon Sep 23, 2019 7:17 am

up 3%
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Re: What's going on with silver?

Post by Ad Orientem » Mon Sep 23, 2019 1:49 pm

Ad Orientem wrote:
Fri Sep 13, 2019 2:40 pm
M U S T B E S T R O N G- M U S T N O T B U Y 100 OZ B A R

DAMN!
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Re: What's going on with silver?

Post by Ad Orientem » Wed Nov 27, 2019 3:29 pm

JM Bullion has 10 oz bars on sale for .29 cents over spot. I hate these evil bastards. They are like pushers waving my drug of choice under my nose at a cut rate price.

https://www.jmbullion.com/on-sale/?con ... 9zubgamux#
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