Gold and Silver Prices

[trout]

Gold and Silver seem to be doing somewhat better lately as far as the spot prices are concerned.
I image that most of us have a little "Stash" of Stirling, round 50c's or 50% "Junkers" that we have put aside over the years.
It will be interesting to see just high the prices will get over the next couple of Months :angel:

[JeffH]

Both gold and silver have a way to go before they get to where they were in the middle of last year.

[autocoupler]

I remember a few years ago, one of the investment guys on the net predicting silver would top $100. It may have been in the year 2525 (1969 doesn't seem that long ago either) he was referring to, or he just had lots to sell :angel: :scratch_one-s_head:  

[trout]

Silver  selling for $100 per oz is pretty much in the realms of fantasy as far as I am concerned But I did sell a heap of scrap silver for $45 per oz not that many years ago :angel:

[interest]

I'm just wondering in regards to the price of Silver.
So, so much of it went into the photography industry ie the making of film, & developing, now that's it's all digital, there's all that silver not being used. Supply, demand type of thing.

[trout]

I'm just wondering in regards to the price of Silver.
So, so much of it went into the photography industry ie the making of film, & developing, now that's it's all digital, there's all that silver not being used. Supply, demand type of thing.

Solar panels alone use heaps of silver and they are getting more popular every year.
Gold only has a limited industrial use But Silver has always been used as an industrial metal albeit an expensive one.
When the World stopped using Silver in its coinage I imagine that there would have been a "Glut" of it But I also imagine that this surplus would have been pretty much used up by now and that there would be more reliance on the newly mined metal now.
My interest in the PM prices has more to do with coins than anything else as usually when the spot prices "Peak" the better coins come out of hiding/storage as people take advantage of the higher spot prices.
I have picked up some nice coins when this happens at very reasonable prices because the market tends to get flooded at these times with everyone trying to cash in on the higher spot prices at the same time :good:

[Basil]

Strong Industrial demand for Silver apparently but it doesn't seem to affect price,it appears locked into the Gold price.
Gold is extensively used in Computers,Phones,Aerospace Industry etc. but i think they alloy it as Jewellery and associated uses accounts for nearly 80% of demand according to Google.

[trout]

I think that the spot prices are affected more by futures traders dealing in paper PM's than the sales of the actual Physical Metals :dodgy:
From what I can work out there is far more Paper Silver and Gold being traded than there are physical metals available :angel:

[JeffH]

I note that silver (and gold) price is up so thought I should update my silver coin bullion value spreadsheet. Almost exactly twelve months since I last updated it.
So plugged in Kitco silver price and RBA exchange rate for yesterday. Just over 50% increase in value for the period!

1966 50¢ coins were selling around $10 to $12 each and now $14 to $16 each on eBay.

[Triggersmob]

I am following the price of silver very closely, as I
have 256 ounces sitting in the Perth mint. I may be
selling very shortly.

[JeffH]

Looks like a good time to sell some. Depending on what you paid could keep some and that would owe you virtually nothing.
WIN-WIN Instant return plus still have a little nest egg.

[fred lever]

Jeff,
Funny how silver adds up. I have about 5kg of odd pre-decimal  silver in  a junk box that I dip into now and then.
On the back of an envelope: at about $15 an Oz (half and half pre/post 46) that makes about $2,200 worth?
Did I get the decimal points right?
Fred.

[JeffH]

Say 70% silver average gives 3.5kg ASW.
Price is quoted in USD per troy ounce (31g close enough).
So 3500/31=about 110 oz silver content.
Conversion from USD to AUD gives around AUD$34.50 per oz.
$34.5x110=$3,800 near enough.
Not sure where you got $15 per oz. Post '46 (50% silver) comes in a bit higher than that.

Silver price can be volatile. Just checked and New York spot price is now 5% higher than when I did my upgrade four hours ago. So your stash is pushing $4,000 now. Could be $3,000 tomorrow.........or $5,000!

[redlock]

1966 50¢ coins were selling around $10 to $12 each and now $14 to $16 each on eBay.

I am very happy that triggersmob got me one a long time ago


The price of silver is very volatible. Always has been. Picking the right time to sell or buy is very trickey.

[Goldseeker]

I have stashed away 1,023 x 1966 50c pieces and 5.8 kilos of pre decimal silver coins as well as quite a bit of gold holdings.

After reviewing my precious metal prices earlier today, I have made a nice little profit on todays prices as against when I secured the stuff years ago.