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Silver Surges Above $15 - Biggest Jump In 3 Months - Royal Mint Issues New Coin
Spot Silver prices are spiking this morning after an initial drop post-payrolls. The 2.9% jump, breaking back above $15, is the biggest daily jump since early May... This is happening as UK's Royal Mint releases 50,000 new GBP100 silver coins...having previously run out of supply to meet physical demand.
Charts: Bloomberg
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Wow...wake me up at $30 + Then I might go looking for mine in that lake...
Hope everyone bought the dip, but if there is follow through with the tightening cycle by the fed there will be more opportunities. Good to see that PM’s are up and stocks are down, but bonds are also up. At some point PM’s will replace a good portion of the bond market as the preferred safe haven asset, just not today.
Anyone know why the USD just took a dive off a cliff ?
Another Fed speech ?
Be patient and do not price it dollars. Buy on the dips so you can stack more ounces. But if you don't have any silver yet, you may want to buy while you can. It could jump back up to its market value pretty quickly. Silver is still a much better buy than anything at the moment. I started making candles with silver coin prizes (https://www.etsy.com/shop/ScentSavers?ref=hdr_shop_menu) so that others can learn about real money.
All of your dolars will be worthless someday and we all know that there are bubbles in just about every market...not so in precious metals!
Keep spreading info about silver and the abuses of the Fed far and wide. The more people that have some of their wealth protected and know how the system failed, the better!
APMEX has a Flash Friday sale on silver Eagles. Lowered premium from $3.79 to $2.99. But that's still a heavy premium to pay. Check your local coin shop and I bet you can do better. Plus, cash transaction and no receipt.
You should always use cash.
Cash doesn't leave a paper trail with all of your info.
Cash (except maybe those new 100s) dont have rfid chips
Cash doesn't charge customers an additional 2.5% on every transactions (yes you pay that. Most times businesses build that into their sale prices).
Cash doesn't pay the bankers interest if you get in over yoiur head
Using cash also helps you spend less because you actually SEE your spending money dwindle away
Almost everyone accepts cash. Not so with card
That said, silver and gold will someday replace those worthless pieces of paper.
Dream on , there is more chance of going back to rare sea shells.
bitcoin , BTChezzzzz
Yeah. Bitcoin! A few years of history vs thousands years. The only advantage is that bitcoin is more convenient for online purchase. Other than that bitcoin has absolutely nothing on gold and silver.
Go ahead and store some bitcoins to give to you great grand kids. It will belike you gave them a useless a-track cassett. Those silver coins that people are stacking (whether they were minted in 1800's or 2000's) will be a great gift to leave behind for loved ones.
"Other than that bitcoin has absolutely nothing on gold and silver"
Apart from the fact that the market price for one bitcoin is 20x higher than an an ounce silver ....... Won't be long before its 20x higher than gold...
.....and then eventually worth absolutely nothing.
The gamer doesn't know what an eight track is.
It's that incredible device that winds itself tighter and tighter with use until it distorts and eventually stops working.
Actually, cash is tracked. Unless you are good at laundering money they will still know you bought something from those stores.
Possibly true, with marked bills. But they dont know WHAT you bought!
When you deposit your fiats into the ATM, wtf do you think all that whirring is about? The bills are being photogtaphed, ocr'd and identified by serial number. They could probably track $1's if they wanted to. They know pretty much everything about the digital paper trail, the munsters.
Sounds speculative and risky to me. Are you treating this as you would a stock, to make a profit, or a reliable long term store of wealth, that will still be there after the EMP hit?
...and it promptly unsurges...
Buy silver rounds. The premium is much lower. An assay test is only $35.00. Why pay for a pretty minted coin when you can just by pure silver slugs and skip most of the premium? Silver rounds are sold by several reliable sellers.
Check with some Dealers there are SEVERAL rounds that are IRA acceptable,another point in that route.
StupeDupe
Funny been hearing that since 38 bucks what 5 years ago ?
Its better to be wrong all the way up to the end and then be right, than it is to be right all the way to the end and be wrong.
Maybe you can burn all of those electronic digits to keep you warm when it all comes down. Oh wait, they will likely shut you out from all of your accounts
Well judging by the Confirmation Bias on ZH I think you will be right all the way until the end when you are wrong.
Bitcoin , BTCHezzzz.
Your logic is flawed. I dont judge my being right or wrong by others' beliefs. If they agree with me, fine. If not thats fine too.
I judge me being right or wrong on facts. Here are some facts that will happen sooner or later and I will be right, whether people agree with me or not:
Bitcoin will be worth nothing someday, because it is not real. It only exists in the matrix
Gold and silver will out last the dollar, the euro, the ruble, the yuan, the peso, bitcoin, and all other fiat currencies beaause it is real and cannot be print awat its value by a few greedy people.
Here is a fact: there is only one single thing that truly exists: Your own perception. Everything else , including your perception of value , and of solid matter , exists in the matrix as intwerwoven energy fields. There is no such thing as solid matter , it is your perception that makes you beleive it is solid. Bitcoin is far superior as money than gold and silver is. It's only a matter of time before kids will be synthesising precious metals in their chemistry classes.
Here is a fact: without an Internet connection and electricity your BitCoins are not redeemable. BitCoin is a superior currency, but it is inferior money. Money is a store of wealth. Money is durable, divisible, fungible, and portable. BitCoin may be all of those things, but it is inferior to precious metals on the whole because it is less durable (requires computer systems), equally fungible, equally divisble, and does beat metals on portability since you can do digital transfer. The durability thing is key though for a store of wealth. The only way it will ever be cost effective to spend all the energy it would take to create new metals (elements) using nuclear fusion in a lab is if the price of metals actually goes to the moon. If such technology is ever available, it would more likely be used on rare elements.
Yes, and to a store of value (wealth) it must hold its value over time. More bitcoins can be 'made', because they dont really exist anyway. I know you will saythere is some high-tech computer formula that 'mines' bitcoins, so the production is limited. But computers and systems and codes be hacked. Gold and silver must ACTUALLY be mined. They cannot be made from man. That is why the hold their value and really money as Jack stated above.
The mining is done by a proof of work model which basically means the inherent value is computer labor instead of human labor as is the case with precious metals. This proof of work model is problematic because those with the most processing power have the most influence. There are super computers out there which can monopolize that proof of work, and it is not impossible that a well coordinated blitzkrieg could compromise the integrity of the blockchain. The labor cost in precious metals however is constant - human work, and that is what money is actually a representation of: goods and services (labor). The only inherent value in BitCoin is the computer processing that went into it. Not to mention, average folks like us will probably never be able to purchase photonic microprocessors which have already been out for a decade. BitCoin production is limited though, as there is a limit built into the protocol for how many can come into existence. That will reach the 99th percentile in about 20 years. BitCoin is unquestionably on borrowed time, because even though the deflation algorithm makes for higher prices, all the miners will jump ship before that because it cuts into their subsidies, at which point the only people remaining in the market would be those actually using it as currency, not the miners or the speculators who will jump to LiteCoin or whatever the next flavor of digital currency is. Store of wealth, definitely not. If you don't hold it you don't own it! Plus who actually believes the elite aren't drooling over the prospect of an all digital currency? Grid dependency has always been part of the agenda. People putting their wealth into cyberspace deserve to be fleeced. It's really just about one of the dumbest things I can imagine, begging to be robbed because of greed and arrogance.
No. They will NOT make more bitcoin. That's the whole basis of why they are worth anything at all. More "paper" money is created by the Fed on a keyboard and granted to banks, most of it as digital money and then loaned out. That's the root of the cause of inflation. The key to bitcoin is that there is a finite supply. In this respect, it is nearly copying the feature that makes precious metals hold value, in that they cannot be created without the accompanying cost and labor. If you could create more bitcoin and expand the supply, it would be no different than the crappy paper you have in your pocket.
Bitcoins can already b just produced from nothing. Because they are nothing. In your example a crazy invention must take place for gold and silver able to be produced by man. For entire human history, the precious metals placed here by God have held value. It's almost a 100% certainty that they will always hold value.
You are alomst betting against the sun coming up tomorrow!
Here's another fact! you're taking up to much time on that Library computer!
He's taking up too much time on the planet!
You failed logic with "Here is a fact: there is only one single thing that truly exists: Your own perception."
If there is only perception, then there are no facts.
Nothing is perfect, but agreed. Gold and silver are the best you are going to do if you are looking for the most reliable long term medium of exchange. I often have to remind my friends where paper money eventually ends up.
China?
No, thanks.
If they can gain and hold it, then we might have something, but I don't expect much until the sheep start panicking, then PM's will go ballistic......
The panics come quickly too. All you need to do is look at any localized natural disaster and how the public reacts. That is what is coming to our country! Nobody knows when, but it is coming!
When is the tricky part....
2oz for 100 quid ? RIP-OFF ALERT.....
crazytech -- you are correct; the party receiving the 100 quid got robbed
You guys have been fucking brainwashed...
@crazytechnician.
Why would a piece of paper with £20 written on it be a better bet than 2 oz of silver?
It wouldn't. But two 50 pound notes would certianly be worth more than 2 ounces of silver because I could buy 6 ounces elsewhere with those two fifty pound notes. That's called basic math....
@crazy. But you'd have to spend and risk your cash. If you buy the £100 coin you are still free to buy 6 oz of silver with it. Your view only makes sense if you spend all your money on silver and wish to hold no cash at all.
I bought ten of the first Big Ben £100 coins from the Royal Mint earlier on this year.
http://www.amazon.co.uk/Big-Ben-Silver-Limited-Edition/dp/B00RJGQ60G
Sterling GBP is increasing in value , it's called deflation. Why not hold your paper cash a bit longer , then buy even more silver withn your hundred quid ?
Better still , load up on bitcoin ......
You know it's a rigged market when up days piss you off more than smash downs, because you can't load up cheaper on the real stuff.
If he knew it was a rigged market he wouldn't of thrown it in the lake.
Dammit... I was hoping it would keep going down so I could load up some more, $8 sounds pretty good.
We're not done yet. You will see lower lows soon enough.
Fill the truck at 8 dollar ... Sell to the muppets at 15 , Rinse & Repeat ....
The PPT must be busy trying to prop up the stock market....they'll get back to the the pm when they are done...
TIME TO GO SHORT, thanks ZH
Sad, but true. JPMorgan prolly selling calls lol.
Its scarily uncanny, isn't it?
Silver would tarnish in a lake. Gold would be OK.
Yeah, nobody wants tarnished silver.
It's not tarnished, it's toned.
Silver is still on sale with above 15
stack then up baby
Silver has been on sale for a very long time. So long that when we see $17 we will think damn this is expensive.
Can't buy a Ferrari with gold or silver.
You can buy a Ferrari with bitcoin though ...
You could also get one at the end of a gun. What's your point?
Why the hell would you try???
Are you saying that the people in this country that were using silver and gold coins for everyday purchases prior to 1965 shouldn't have tried? Interesting. Let me think about why millions of people transacted in silver everyday but shouldn't have tried. Give me some time, this might take awhile.
Well I wouldnt own one. Waste of money. You know how many people I could help with that price tag.
And yes you can buy anything with gold or silver.
And why is that? I've arranged and completed transactions directly with metals. However, the right way to do it is to transfer the ownership of actual physical metal through a trusted storage service. This is how banking would actually return to using metal. You don't have to have the coins or bars in your hand. If the payee wants his metal, he can always go to the vault service and take it.
go to dubai
Oh for Christ sakes ZH!!!
Now it's gonna crash big.
Miners are moving also a bit. Let's hope it sticks...
Damn it! Push it under ten so people start puking up their coins. I want moar!
Should have let China in the SDR. Now they are taking all the marbles and going home. No need to cooperate with the west anymore if the west won't cooperate back.
Yaaaaayyyy!!!! To infinity and beyond!!! This is it!! I feel it my bones I tells ya! Oh never mind that's my arthritis, please pass the ibuprofen.
Needs to break and hold $15. Similarly gold needs to break and hold $1100. Until then, the trend is down. PMs usually get trashed into Euro close. We might see the bottom in September when the Fed finally decides what to do with rates. I don't think it will matter if they raise or don't raise.
They cannot raise. They would sooner fire Mr. Yellen and hire Kim Kardouchian, and force her to do every FOMC meeting in a thong, eating a popsicle.
Yellen's popsicle???
Stop following the paper price and go do more research. You don't get it yet..
"Stop following the paper price" --- Really? On a thread about the "paper" price? There is no difference, btw, between paper and physical prices. The premiums don't stay wide for long and soon adjust. Believing anything else is a goldbug fantasy.
What a limpfest that was. Sniffing $14.90 now. We may even see red by the end of the day.
This is just a short squeeze. Was expected. Plus, APMEX just emailed me about a 5 hour sale, so now I KNOW it's short squeeze.
We'll resume downward by Monday or Tuesday, maybe even by close today.
Hahaha, I know what you mean :)
Sometimes when I was planning to go long, I suddenly got a email from a bullion dealer and that always stopped me on my tracks when the titel said: "SALE AT SPOTPRICE"
Those guys always seem to know it all a few days ahead.
Silver surges above $15...hilarious...
Until the shit is in triple digits or the paper price is ZERO, u aint seen nothing yet.....
DEAH TO THR MONEYCHASNGERS.
$15 is no more a real price than $50 was a few years back. As long as paper SLV is what's being bought and sold, the actual value of physical silver will be masked. Everything up until that point is transitory.
My crappy miners are looking better today. Was planning another phys raid at the LCS but looks like I'll wait.
I'm back at break even with my miners now. But I'm waiting for the big score here so I'll probably still have them by newyear.
It's worth noting that the £100 coin only contains 2 oz of silver, ie less than £20 worth. One the other hand it's legal tender and they deliver them free. You can put them on your credit card at no extra cost. They are nice to hold in your hand and if you get sick of them you can always cash them in or spend them. No matter how you look at it, they are better than holding £20 worth of fiat.
Do you have a link to buy them?
http://www.royalmint.com/shop/Buckingham_Palace_2015_UK_100_pound_Fine_S...
I bought ten of the Big Ben £100 coins earlier on this year.
http://www.amazon.co.uk/Big-Ben-Silver-Limited-Edition/dp/B00RJGQ60G
It's a scam to get you to spend more money and receive less ounces. If/when the Silver price doubles, those overpriced coins will still be worth their face value, plus a small premium for collector value. The banksters want you to feel like you have nothing to lose by purchasing these products. What they don't want you to realise, is that you also have nothing to gain. And that is in fiat terms only. If the value of the Pound falls by 50%, you have not protected your wealth at all by purchasing these "safe" Silver coins - they will still be worth 100 devalued Pounds.
If it sounds too good to be true, and it is coming from the government or one of their proxies, run - don't walk - as far from that "deal" as you possibly can.
I'd rather have eight or nine Britannias.
somehow i think canadas' 20 for 20, 50 for 50 etc is a better deal. you only pay face price, free shipping. maybe a bit extra over the spot value/oz. but no loss on the face...at least if you're in canada
Canadas 20 for $20 is 1/4oz, 50 for $50 is 1/2 oz and 100 for $ 100 is 1oz. None of these are a deal.
maybe not as far as content goes. from the amazon link above for the brit coins though, what would be better 185 pounds for a 100 or just face for face with the can$? paper in your pocket is easily spent the coins can be but you'd probaly think a bit 1st. the point is no premium over face.
Copper is key. As the price received by copper producers moves under the cost of production, silver supply will dry up. 1.90 copper on its way.
i've been wondering.... does anyone know where to buy LARGE copper ingots or bars, not the grossly marked up rounds?
Nothing to see here until phyz decouples. Following the paper price is a waste of time. We're going way lower than this too so save your fiat.
I don't look at my silver as an "investment" per se, I look at it as "currency insurance" against a greek/agentinian/etc type event. personally, I'd like it to stay low for at least a yr or so.
my HOPE is that when I leave my house horizontally w/a tag on my toe my kids say: "why the hell did he waste so much $ on these things?" I'll be smiling down if that happens, pleasantly surpriised. in fact I may amend my will to direct: feel free to put "beloved father, husband but a paranoid dumbass" on my headstone if I'm proven wrong...
That £100 coin sort of looks like the UK trying to go on to a silver standard because from a bullion standpoint it's ridiculous.
The UK has had some weird metal blends in coins over their history - as the DEVALUED the Pound Sterling.
£100 Sterling now weighs 2 troy ounces.
Historically, £100 Sterling weighed 1,458.3 troy ounces.
Fonestar, how much does a bitcoin weigh?
Prediction............JP Morgan slam by Saturday AM
Who cares what the TBTF do?
Buy Silver; physical!
Any rise in "price" undermines Fiat.
Do not be scared by the PTB. Buy as much as you can in proportion to your portfolio.
£100 for 2 oz? FTS, stick to ugly 90% junk.
sucking a dick now...............
Couple of advantages to UK residents, there is no 20% VAT on legal tender or capital gains tax on any profits.