Featured Anyone else notice the price of silver right now?

So silver is at a pretty amazing price and I'm wondering if anyone else noticed?

https://www.marketwatch.com/story/s...-is-up-more-than-80-from-2020s-low-2020-07-21

 

Gold hit a record today.

 

Last I sold a lot was at $48. Still waitin.

 

Wowser, it is on the rise which means your stash is going up in value Keep buying it Mr Nate, you find the best deals

 

Several silver producers have shut down operations in Peru due to the virus and more may follow.

 

Hmmm, time to in-hoard a few scrap pieces. (LOL)

 

I posted this in another thread before I learned about the existence of this one.

Has anyone been watching precious metals prices in the past few weeks? Both gold and silver have been on a roll with silver picking up considerable gains in the past few days. Earlier this year when the first round of shutdowns for COVID were occurring silver fell to around $12 an ounce and right now it is at $22 an ounce and seems poised to really break out. Gold hasn't seen quite a dramatic move but is up considerably near record highs.

I am not much of a precious metals stacker myself and mainly just enjoy the old coins but I thought that these recent market moves were shocking! Expect a lot more media attention on gold and silver in the near future which might ignite another 2011 style bubble as the general public gets on the hype train.

Will we see cash for gold stores opening up on every street corner like we did almost a decade ago? Expect lots of slimy metals buyers to come scurrying out of woodwork everywhere, especially during a crisis where the populace is trying to raise funds for essentials.

 

I see ads from these type of stores in Toronto......but.....they are now offering mortgages !!!

 

Silver now at $24.39 an ounce. This is nuts!

I bought a few ounces over the weekend from the local coin shop. Couldn't help myself.

I'll dabble a bit but am going to be cautious that this might be another bubble.

 

Gold hits $2000 I can retire.

 

Hi Joe,
You do not remember when silver hit 30 dollars an ounce back in the 1970s. I remember when we came off the gold standard. Gold went from 35 dollars an ounce to the unreal 2000 dollars an ounce. I think it was 1938 dollars an ounce last week.
greg

 

I believe silver hit $48 or $50 an ounce back in 2011.

I've heard stories about the Hunt Brothers trying to corner the silver market back in the 1970's. Really crazy stuff, and to think that they almost did it holding an estimated 33% of the worlds silver supply!

Can you add any insights on what it was like to live through those times? Were people grabbing all their flatware and heading down to the bullion buyer?

 

Well, we are in the Trump Recession and if we slide (mortgage and rental defaults and evictions, personal and business bankruptcies) into the Trump Depression then be happy for all of your silver acquisitions. Metals skyrocket when the cash markets are unstable. Personally, I would be worried about deflation for the first time in many years. People have run out of savings and prices will have to drop. Can I sell anyone an apple?

 

In a deflationary economy, no one has the money for the apples.

 

They do if they owned silver...

 

Were people grabbing all their flatware and heading down to the bullion buyer?

In Droves.........like U never seen before !!
Treasures were lost as every piece of silver...no matter what ...were being thrown at anyone who would buy it for melt weight !
On my lunch hour, I'd sit in the park across from a big buyer.....and just marvel at how the line up never seemed to dwindle .....and folks were straining under the weight of the bags full of silver they carried.........

 

Hi Joe,
My favorite silver grab was the hospital I was working in. They had just converted over to the X-rays which were digitized instead of using X-rays. The hospital filled a huge dumpster with old X-rays , mistakes etc. I went to the dumpster hundreds of times to fill my arms with the films that got taken to the recyclers. I made over 25 thousand dollars recycling those X-rays. Talk about found money.
greg

 

Now of course they just hit the Delete key. Just as well in a way.

 

All this talk of historical silver prices reminds me of a story. When I was in junior high school in the late 1960's, my friend and I collected coins, but I didn't have much money, so mostly collected common stuff. I had a passbook savings account that was created years before that when I was little. I decided to cash it out and get rolls of coins to go through. I had had the account for years, so was looking forward to finding out how much interest I'd earned over 6 years. When I got to the counter at the bank, they said I had almost $15. I'd expected more. She said I had a "special" kids account that didn't earn interest. What?! I was really disappointed. So I got two rolls of dimes to look for silver coins, and some rolls of pennies/nickels. When I got home, I called my friend and he said, "You won't find any silver in those rolls because the bank is separating them out now." Double dejection! Downhearted, I opened the first roll of dimes....every coin was silver. I opened the second one, and same thing. I'm sure the teller knew why I was getting the rolls, and could see my disappointment, and gave me the separated silver rolls on purpose. The odds of just happening to get all silver several years after clad coins were out was impossible. Ever since, I've hated banks, but like tellers.

 

IOW, this bank was using little kids' money for free as the value decreased with inflation. How nice of them. That teller however... ^5!