Who Cares About The Price Of Silver, Not Me.

[smokestack]

OK , so i just used that title to draw attention to my post. However after watching some you tube videos of some guys buying 100 and sometimes 200 scratch cards and then losing all or most of there money, i dont think i am going to worry too much if silver goes up a pound or two or down in the coming years. Of course i would love it to skyrocket after i have built up a good stack. But when these idiots are happy to throw money in the bin in this fashion i think i will be content if my silver has still got some value whatever that may be.

[a_a]

Funny you should mention lottery, earlier I was thinking of stopping my lottery tickets and using the money to stack with instead

[Ares]

Don't worry about the price fluctuations so much but keep an eye on it. If it goes up, keep buying just be more selective and buy less and if it goes down then buy far more.

[HighlandTiger]

Ten years ago this week, Silver was £3.26 an oz. Since then it has risen to short term highs of £29.26. It's average over the last ten years has been £11.18

 

To be honest Silver today is sitting bang in the middle of of the chart, neither too cheap nor too expensive. Personally I can see it dropping to below £10 again in the next year or so. But as long as we get another surge to the sky sometime in the next decade then I'll be happy. So why worry about the price today, buy what you like, because sometime in the future your stack will be worth bugger all, and also sometime in the future it'll be worth a fortune. 

 

It's all about timing

 

[ChrisSilver]

Yep, the important thing is that your saving something with should retain some sort of value. Rather than wasting money on useless stuff. That is how I justify the premiums on numismatics some time "so what if it's an expensive piece if silver, if I didn't buy this it would just be wasted on something else"

@ HT I disagree with you that silver is in the middle. If you put a gentle trend line in that chart then silver is at the bottom, as therefore as cheap as it should get. It might drop down lower but I regard this current area is the bottom not the middle. You have to account for inflation after all

[HighlandTiger]

@CS, the problem with these lines, is that they are all subjective and depends on where you start and where you finish. As someone who studied both statistics and economics, (albeit a long long time ago) you soon learn that stats can be manipulated to be whatever you see or want to see.

 

But I think the problem is, that the world recession has over the last few years skewed artificially all prices of PM's outside of their natural price system. Add to that the internet which has allowed access to PM's which would have been unheard of 15 years ago. We have the SHTF brigade, again who have only risen thanks to the media and the internet. We have the PM price fixing system about to be replaced, We have COMEX under scrutiny.  We are in unknown territory, and to be honest anything can and probably will happen.

[HighlandTiger]

 You have to account for inflation after all

 

there is a handy online inflation calculator, http://www.thisismoney.co.uk/money/bills/article-1633409/Historic-inflation-calculator-value-money-changed-1900.html

 

Although it only calculates up to 2012. £3.26 (2004 silver price), is today worth with inflation £4.37. Add on 2013 inflation of 2.5% thats £4.48.

 

So if we are only looking at inflation then silver should be at £4.48 / oz. Thats why I think todays prices of silver are at the median, not the lower end of its value.  

[HawkHybrid]

silver is at an inflation adjusted lower than average in 2004?

 

inflation should be calculated using oil/gas/energy prices.

 

HH

[ChrisSilver]

Yea it depends on how you calculate inflation. You also have to account for demand etc. Anyhow, I believe silver to be low priced, HT believes it to be medium priced. Hopefully I am wrong and silver (and gold) falls even lower

[HawkHybrid]

I think the silver price is low if considering silver as a pm.

 

at ~£12/oz it takes a 1/5 ounce coin at melt value to pay for the bare necessities, bread and milk.

 

did anyone see the argyraspides 1/10 oz youtube about how people worked all day manual labour

for 1/10 of an ounce?

 

HH

[silversword]

Silver is currently affordable. I like Silver. Silver is always likely to be worth something because It has many uses. Therefore I will buy silver with some of my disposable income. I care about the price because if it gets too high then I will stop buying or drastically cut back on purchases. If it goes lower I will be able to afford more, or spend less to continue accumulating at my current rate. 

[smokestack]

Yes i think you have a good attitude silversword, buying silver with disposable income is a great way i thimk. That money would have only been spent on things with no lasting value like beer and takeaways or whatever.