Silver Monitoring Thread £ (GBP) only.

[Danny-boy]

Is that a 500oz goal?

I was thinking about going for my bodyweight but my current spot value would be about £27k

No mate, 520oz. I want to sell a coin a week for 10 years when I retire to bolster the pension or buy beer with [emoji1]

When that's done, I'll start on gold and hopefully amass 26oz of that for the same purpose.

[HighlandTiger]

Looks like the price is dropping like a stone today. The highs of the weekend just been wiped out within seconds. Dropped from £12.53 to £12.26, although rallied a little.

Edited July 14, 2014 by Highland Tiger

[smokestack]

Looks like the price is dropping like a stone today. The highs of the weekend just been wiped out within seconds. Dropped from £12.53 to £12.26, although rallied a little.

Great news for us who are only just starting out in silver stacking(i really do prefer the term stacker to prepper) to my mind prepper is quite a depressing word.I need to keep smiling

Edited July 14, 2014 by smokestack

[craig12]

I wouldn't mention the words great news,  some will have bought at £25+ an ounce

makes me gioggle how gold and silver dropped today quite a bit  but the dealers still have similar prices  now on coins and bars  as of last night    scam

 

lokks like golds off 17p  and atkinsons sovs are virtually same price    silver down quite a bit  but the maple coins  are only about 6p lower

Edited July 14, 2014 by craig12

[garthy]

$137 billion dollars worth of paper gold was dumped on the market today, over supplying the market and sending prices lower, looks like they have no intention of letting go of gold and silver just yet.

 

We still have time   

[silversword]

I wouldn't mention the words great news,  some will have bought at £25+ an ounce

 

And if they wanted to buy some more, it's still great news. Low prices are bad only if you are wanting to sell. If not selling, it's not a problem.

 

Silver was still reasonable before the weekend and its gotten cheaper today. Gold was getting pricey and is now pretty cheap again. I don't have enough of either so I'm not complaining because I can now buy more.

 

Interesting bit of commentary from the market that last week's rally was driven entirely by speculative trading, but the lack of physical sales pretty much stalled it and people reconsidered their positions, taking quick profits and dumping a lot of contracts in the process. Remember my quote about all the traders using the same fundamentals? Well this is what happens when everyone hops on the bandwagon.

[simon13]

Watched the drop today.  Not sure whether to put on on order with STG or to wait and see if silver can drop further.  Seems to be stabilising at £12.24 / $20.91.  Ratio of Silver to Gold is 62.5.

[craig12]

surely not many people order rcoins  after the markets close, imagine ordering coins at 6om in the evening only to find the silver price drops 20p the morning after   ouch

 

imagine if we breach £11.99   not so ling ago @£11.24 a 10 oz sunshine mint bar at atkinsons was £124 plus vat

Edited July 14, 2014 by craig12

[morezone]

surely not many people order rcoins  after the markets close, imagine ordering coins at 6om in the evening only to find the silver price drops 20p the morning after   ouch

 

imagine if we breach £11.99   not so ling ago @£11.24 a 10 oz sunshine mint bar at atkinsons was £124 plus vat

 

How is that any different to not making the order and then waiting to find it's risen 20p.

[craig12]

well the first one you lost money the second one you lost money on paper , with a view to possibly buying if the price falls back

Edited July 14, 2014 by craig12

[Ares]

How is that any different to not making the order and then waiting to find it's risen 20p.

^^^ this, so many times.

I've never seen someone so concerned about what is going to happen about the silver price in the short/medium as much as you Craig

I can get you want a good deal and all, but you shouldn't be so concerned about it.

Edited July 14, 2014 by Ares

[morezone]

well the first one you lost money the second one you lost money on paper , with a view to possibly buying if the price falls back

 

The point is that it doesn't matter if you buy when the market is closed because you can't predict if it'll go up or down when it opens.  You could buy now and then in 10 minutes, it drops 20p.

[morezone]

^^^ this, so many times.

I've never seen someone so concerned about what is going to happen about the silver price in the short/medium as much as you Craig

I can get you want a good deal and all, but you shouldn't be so concerned about it.

 

Exactly as he said.  The market price is always fluctuating.  The spot price now can change within a few seconds.  If you like the price buy.  If it goes down shortly after, never mind.  If it goes up, yippee.  It doesn't really matter because we're talking small numbers.

[Ares]

Exactly, I vaguely recall Craig doesn't buy silver in bulk anyway (nothing wrong with that, I rarely do either) so I mean it's really not worth fretting about the spot price of silver at the time of purchase. It's just causing stress for little to no real impact.

Judging by the past performance, £12.50 becomes 'high' in my book. But in a year or so that might be to us what the £11 was to us a few months ago. It's all a constantly shifting tide.

For me, when it goes up I think great, what I've got is worth more. When it goes down, I think yay I can buy more.

[silversword]

Sharp step down in the silver price this afternoon and gold following suit. The chart makes it look dramatic of course, but a big step for silver is still only £0.19/oz. Gold looking much better value at less than £756/oz. No doubt some of that will be recovered - or will it? Has the technical momentum well and truly swung to the bears favour and herald further drops before the week is out? 

[craig12]

were nearly at £11.99  latest is £12.10

[garthy]

I want to make a purchase but I've a feeling they've not finished with it yet.

[HighlandTiger]

I want to make a purchase but I've a feeling they've not finished with it yet.

I think we could be back to the £11.50's by the end of the week. Fingers crossed. 

 

I still think that £10 is possible before the end of the year.

[HighlandTiger]

Just thinking, I'm aiming to retire in 15 years. Well 15 years ago silver was at £3.33. Now its 4 times that amount. Well I'll be well chuffed if my stack increases to £50 an oz by 2030.

 

Looking forward to the ride that silver will take me   

[Cornishfarmer]

15 years ago when spot was £3.33 could you buy 1 oz coins for £5.33? Or was the mark up bigger back then?

[HighlandTiger]

15 years ago when spot was £3.33 could you buy 1 oz coins for £5.33? Or was the mark up bigger back then?

An interesting question.... Have we any older stackers / collectors who can remember that far back

[Danny-boy]

All I can say is, when I used to but MT Thalers, the vendor used to say he remembered selling them for a fiver and less.

[craig12]

don't know about that but if you go on you tube  theres a guy stating  that todays  spot prices are ridiculous for old stackers , I don't know how you would find it but its fascinating, the guy shows you some old national geographic magazines  stating the spot price and coins for sale  at xxx over spot in each page theres an ad for a silver and a golds coin   showing the % over spot

 

I think it can be found under  the common heading    todays spot prices are ridiculous for older stackers   screen shot shows 2 national geographic magazines

Edited July 15, 2014 by craig12

[HawkHybrid]

most important question is would each silver oz buy you more in 15 yrs time?

 

HH

[garthy]

most important question is would each silver oz buy you more in 15 yrs time?

 

HH

 

Exactly HH, that's what we should all be focused on.