What's with silver going through the roof.

[NeuroTypical]

One would think that if nefarious bad guys are keeping the price of silver artificially low, that it would be a logical step to buy silver. Wyoming? California? Either of you folks buyin' at around $33/oz?

[WyomingEMT]

$33.00 is a lot per ounce, do you think it will go lower again so I can buy a few ounces for bartering when the time comes! I'm hoping for $22.00 an ounce, whats my chances....

[California_Dreaming]

In response to L-M’s question; am I a buyer at $33 per ounce?

I stopped buying silver at about $30 per ounce. Nothing special about that price; I just needed to concentrate on bringing my food storage up to date.

I am a chart follower and a technical analysis type person. The chart L-M posted a couple of posts ago is very interesting. Look at the high point of just under $50 per ounce in early 2011, and then follow out looking at the “lower highs” and the “lower lows”. This shows that silver is in a down trend.

How low will it go? I love this answer…”It will go as low as it goes before reversing direction.” First look for a “higher low”, if it is followed by a “higher high”, the trend may have reversed; I usually wait for additional confirmation. That means that I never get in at the absolute bottom or out at the absolute top.

As someone said “You can have the bottom 15% and the top 15%, I’ll take my 70% out of the middle.”

Will silver go higher, I believe it will. Is that because silver will go up in value? I do believe that we will have high inflation in the future.

Rising prices is not inflation. Rising prices are the result of inflation which is devaluation of the currency…more money chasing the same amount of goods. We have more money chasing goods because the country continues to print money (or create electronic debits) which devalues the currency.

In the long run, I do not believe gold and silver are investments in that sense of the word. They are a “storehouse of value”. Look at what a silver dollar bought in the 1950’s and look at what a silver dollar will buy today. If you take out technological advances such as television sets and refrigerators, the trade value of silver and gold has remained pretty constant.

Do I believe that we have high inflation coming-yes, hyper inflation like in Zimbabwe and the Weimar Republic, I don’t know. What I do know is that congress will keep printing so that they can keep their jobs.

If $33 per ounce ($37 for an American Silver Eagle) looks expensive, look at “Junk Silver” (pre 1965 dimes, quarters, haves and dollars). Most dealers are selling these in ¼ bags ($250 face dollars) about $6,000. Maybe you can find a coin dealer which will sell to you in smaller quantities. Here in California all bullion transactions under $1500 has sales tax added on, that boosts the cost about 8%.

Good Luck

[EarlJibbs]

$33.00 is a lot per ounce, do you think it will go lower again so I can buy a few ounces for bartering when the time comes! I'm hoping for $22.00 an ounce, whats my chances....

The price now shouldnt matter if you are going to use it for barter. Because then it will much more precious. If you are buying as an investement, then worry about how much it costs now. If you are buying to suplement money if something were to happen. Then buy regardless of the price. That is like waiting to see when food storage prices will come down in my opinion.

On a lighter note. I invested in a silver mine in May. It is doing great!

[WyomingEMT]

True, true....Silver to barter with is the main reason for buying the shine stuff, but it's fun to clink them together.

[talisyn]

In case of a zombie apocalypse I don't see silver or gold as being very high in demand. I would imagine other items would be far more useful to acquire, like Cherry Coke and Skittles.

On more serious, but just as rational note, I believe silver is getting more attention because a lot of people can't afford $3k+/oz gold and are looking for the next best mineral.