What's going on with silver?

Discussion of the Gold portion of the Permanent Portfolio

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Ad Orientem
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Re: What's going on with silver?

Post by Ad Orientem » Tue Aug 27, 2019 10:32 am

Silver has breached $18.00 oz.
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Re: What's going on with silver?

Post by dualstow » Thu Aug 29, 2019 2:47 pm

Two detectorists in England found enough Norman silver coins to give Ad O a treasure bath -

https://www.bbc.com/news/uk-england-somerset-49487078
RIP Toots
in NE Syria, a Russian armored vehicle deliberately rammed an American military viehicle, leaving 7 US service members with concussions — the week
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Kriegsspiel
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Re: What's going on with silver?

Post by Kriegsspiel » Thu Aug 29, 2019 3:40 pm

dualstow wrote:
Thu Aug 29, 2019 2:47 pm
Two detectorists in England found enough Norman silver coins to give Ad O a treasure bath -

https://www.bbc.com/news/uk-england-somerset-49487078
That's cool as shit, coins with William the Conqueror and King Harold.

This part is a big downer though:
Under the Treasure Act 1996, finders of potential treasure in England, Wales and Northern Ireland are legally obliged to notify their local coroner
An inquest then determines whether the finds constitute treasure
The act contains a number of definitions of "treasure", including prehistoric objects, coins that contain gold or silver and are at least 300 years old, or more recent valuable objects that have been deliberately hidden
If the find is declared treasure, the finder must offer it for sale to a museum at a price set by the British Museum's Treasure Valuation Committee
Hmm, I wonder what they think a fair price is?
If the hoard is officially declared as treasure, the Roman Baths in Bath hopes to acquire the coins.

Stephen Clews, from the Roman Baths, said: "If you look at the true value of this, it's about 500 sheep - that's what you would have been to able to buy with them about 1,000 years ago.

"So what we need to do is translate that into some sort of modern value."
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH
I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. Who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun. . . Nothing is better for a man than to eat and drink and enjoy his work.
- Ecclesiastes
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dualstow
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Re: What's going on with silver?

Post by dualstow » Thu Aug 29, 2019 9:12 pm

btw, as you can guess, coroner does not mean over there what it means in the U.S. I learned that watching the hilarious and charming British show, ‘Detectorists.’
RIP Toots
in NE Syria, a Russian armored vehicle deliberately rammed an American military viehicle, leaving 7 US service members with concussions — the week
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Re: What's going on with silver?

Post by Ad Orientem » Tue Sep 03, 2019 8:26 pm

Wow. Silver blew right past $19 oz. And fwiw, silver is decoupling from gold. It won't last of course. But recently silver has been going up pretty much regardless of what gold has been doing. It took a while but I think some of the big boys have figured out that silver is still somewhat cheap relative to gold. That said, the silver gold price ratio has dropped below 80:1 for the first time since I started buying a little over a year ago. While I still think there could be more upside, I am not buying anymore. Below 80:1 silver is a hold in my book.
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Re: What's going on with silver?

Post by ochotona » Wed Sep 04, 2019 3:47 pm

I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
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Re: What's going on with silver?

Post by Ad Orientem » Thu Sep 05, 2019 10:29 am

ochotona wrote:
Wed Sep 04, 2019 3:47 pm
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
Wow. You timed that well.
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Re: What's going on with silver?

Post by ochotona » Thu Sep 05, 2019 11:31 am

Ad Orientem wrote:
Thu Sep 05, 2019 10:29 am
ochotona wrote:
Wed Sep 04, 2019 3:47 pm
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
Wow. You timed that well.
I think this belongs in the "what have we learned over the past ten years thread" - Nothing goes up in a straight line. You simply have to sell or partially sell geometric moves up.
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Re: What's going on with silver?

Post by Ad Orientem » Fri Sep 06, 2019 1:58 pm

The last 48 hrs... Looks like someone beat the snot out of silver with the ugly stick.

I need to turn off the TV and computer, and go find a good book to read.
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Re: What's going on with silver?

Post by Smith1776 » Fri Sep 06, 2019 2:58 pm

Excellent. I was hoping for an opportunity to add to my physical collection today. ;)
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Re: What's going on with silver?

Post by dualstow » Fri Sep 06, 2019 3:00 pm

I have a Queen's Beasts silver coin from a year ago that's already starting to tarnish on the edges. I use cotton gloves now, but I think I'm done buying silver, except that which I'll give away.
RIP Toots
in NE Syria, a Russian armored vehicle deliberately rammed an American military viehicle, leaving 7 US service members with concussions — the week
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Re: What's going on with silver?

Post by Smith1776 » Fri Sep 06, 2019 3:08 pm

dualstow wrote:
Fri Sep 06, 2019 3:00 pm
I have a Queen's Beasts silver coin from a year ago that's already starting to tarnish on the edges. I use cotton gloves now, but I think I'm done buying silver, except that which I'll give away.
The tarnishing is an absolute pain.

The bullion dealer I favour gives out these free little plastic sleeves that fit quite tight around the surfaces of the coins... that has seemed to help some.

I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.
“My natural state is an outsider, and no matter what group I'm in or where I am, I've always felt like I'm outside the group, and I've always been analyzing the group.” - Michael Burry
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