The silver price just shat itself.... what happened?

ArgentumPostremo said:
dccpa said:
"You are complaining about a priceless commodity that is being burned through with industry, that has limited above ground stock that is not actively mined going down in price?"

"Silver is always inherently valuable."

"What are you losing max? $10-20 per ounce? That is alot?"

Based upon recent newbie posts, there must be some school project on silver.

All non-renewable items are limited in quantity, but none are priceless. Silver is being actively mined.

Yes $10-20/oz is quite a lot. The object is to make money. Buying regardless of price is not wise for investing.


You also missed the point. Last time I checked silver can only be created in a supernova.

Guess that makes this a Finite resource no matter how fast it is mined out of the ground.


If 10-20 ain't a lot for you. How many ounces you have? Boy do I have a deal for you. Sell me all your ounces, and I'll pay you 5 bucks and ounce. That's only a 12 dollar difference from these levels (within your 10 - 20 price range). Okay, okay, I'll give you 10.00 per ounce. I'll pay via PayPal, and you send me your ounces, not a bad deal for us, yes? I mean, you're not losing much, and I get some silver to stack. :D
 
ArgentumPostremo said:
Last time I checked silver can only be created in a supernova.

Guess that makes this a Finite resource no matter how fast it is mined out of the ground.
Last time I checked, there are an infinite number of universes. Plenty of supernovas for everyone.

I'd argue more from the standpoint of rising energy cost of extraction and refinement, and declining ore yields. We won't suddenly run out of silver, but we'll hit peak silver at some point.

But with silver being a byproduct of copper mining, and copper mining being so epic in scale and so fundamental to modern society, it seems correct to look at what's happening with copper mining to see where silver is going.

...Rio Tinto is planning to build a second mine onor rather, underthe site.

The plan calls for five blocks of ore, each more than half a mile square and a third of a mile tall, to be carved out of the solid rock underneath the pit. In theory, the void created could swallow midtown Manhattan from 33rd Street to 57th Street; 500 feet of empty air would hang above the spire of the Empire State Building. The project would completely transform the mine's operations. Ore from an open pit is dug from above, like sugar spooned from a bowl. Ore from an underground mine is dug from below, like sugar spooned out from the bottom of a pile, except that the sugar is a city-size slab of solid rock.

...In the United States, planning is under way for Resolution, a mine 7,000 feet beneath Arizona, and for Pebble, likely a combination pit and underground mine, in Alaska. Each of these is a potential world-class operation, producing copper on the Bingham Canyon scale.

...Copper mining, even by modern best-practices guidelines, is a hugely costly endeavor from an environmental standpoint. The mines themselves are vast. Processing the ore consumes enormous quantities of fuel (often coal) and water. The waste rock producedknown as tailingsis suffused with toxic substances, including sulfuric acid, arsenic, lead, and cadmium. These substances are intrinsic to the ore, not a byproduct of processing. They cannot be avoided, and they render the tailings dangerous for tens of thousands of years.

...At Bingham Canyon, the latest expansion of the pit involves removing a wedge of rock a mile wide, 1,000 feet thick, and 3,500 feet tall from the pit's south wall. That rock is not ore; it's worthless junk, called overburden. The ore being targeted is buried beneath it. It will take an estimated seven years and more than $660 million in capital outlays before that ore is finally exposed. "Literally and figuratively, we've got a whole mountain to move,"

...The world is not running out of copper. But it is becoming harder to find and produce, ... "There's no more easy fruit." We've entered the era of tough ore.

...Gass and I watched as huge white tendrils of cloud broke loose and spiraled thousands of feet down toward its bottom. I said it looked like the mine was inhaling the storm. Gass said that it was: The pit is so big, it creates its own weather patterns.

http://forums.silverstackers.com/to...-the-epic-scale-of-our-copper-dependence.html
 
dccpa said:
ArgentumPostremo said:
dccpa said:
"You are complaining about a priceless commodity that is being burned through with industry, that has limited above ground stock that is not actively mined going down in price?"

"Silver is always inherently valuable."

"What are you losing max? $10-20 per ounce? That is alot?"

Based upon recent newbie posts, there must be some school project on silver.

All non-renewable items are limited in quantity, but none are priceless. Silver is being actively mined.

Yes $10-20/oz is quite a lot. The object is to make money. Buying regardless of price is not wise for investing.


Quite the assumption. Didn't notice a denial?

"Your" Objective is to make money. Not mine. This does not mean I will not buy low, because to obtain what is Finite for
dirt cheap is obviously a great deal :D So we have different objective, that doesn't change the fact that silver is not priceless and is being actively mined. Are you denying either of these two facts?

If you are trying to use silver to make money... :D *news flash* you are in a rigged game. :o Blackjack is rigged too, but card counters still win.

Good luck to you.


$10-20/ounce is significant for some who is looking in the short term. It is nothing for someone looking in the long term. What is your definition of short term? Most of us consider years to be long term.

As long as the purchase was made with the lowest price being found at the time... I say and ounce is an ounce! Do I have some coins for you!

Except watch your silver companies children :D only get the best. ASE's or Sunshine ;) What children? Do you know something I don't?

The amount of silver on earth is Finite just as the rate that it is taken from the ground is Finite.

Two Finites IMO = Priceless.

Yea, but card counters are also kicked out of the casino. Thereafter they get their face rearranged.

Kind of like the Hunt's brothers.

Well... my long term is a life time.

Short term... hmm 20 years if I had to give a response. ;)
 
It's on the way back up. Can we please have a plethora of 'to the moon' threads too. Thanks.
 
ArgentumPostremo said:
The amount of silver on earth is Finite just as the rate that it is taken from the ground is Finite.

Two Finites IMO = Priceless.
You are ignoring timescales and percentage volume.
 
SilverPete said:
ArgentumPostremo said:
The amount of silver on earth is Finite just as the rate that it is taken from the ground is Finite.

Two Finites IMO = Priceless.
You are ignoring timescales and percentage volume.

Agree. I am just offering the opposite extreme of him saying "Silver is not priceless".
 
I love seeing both sides of the coin arguement, as long as no one gets hurt (i.e. light punched out). I think debate is good. I know it is for me, and ultimately I live with my decisions. My decision - I'm buying baby. 17, 16, 10, 5 I'm soaking it all in. I always wished I was the guy who road thousands of ounces from 3.00 to 50.00 in just a 'few' years (back then).

Instead I was one of the suckers getting eaten alive by the stock market. Well, I'm glad I've put htat game behind me a long time ago; and now I believe I'm that guy who will be on the train from '3 - 50...' and beyond (will be different numbers of course). That's just my opinion for me. I can't wait to buy my next round of 10 kilos. Yum, yum. Come on dccpa, get us to 10. :-) Atlhough, I have a sneaking suspicion, that if we get to 10, those PM coins will have a very high premium...I hope not, but my guess is at 10, they'll let them go for what, 16? 17? Kilos that is. :-) I'm not into the blobs, or the coins that have what snow covering the landscape. No thanks. I'll leave those for my good friend missing. hehehe. And he is a good buddy, thanks to this site.
 
ArgentumPostremo said:
I have been creeping on this forum for awhile, and I am kind of turned off by all of the short term investors.

I am not perma-bull by any means (which was a new term to me before I googled it), but the main thing that gives silver or any metal an attractiveness to me is it's permanence.

Once you own physical metal it is with you or your family and future generations forever.

Really the only ways you part with it or your family/future ancestors is through theft or careless loss.

The threads I have read recently are mostly those on short term positions, and in my opinion they are missing the true point of owning metal.

Can money be made on the trade of physical metal? Yes.

But I argue the fact that the metal is inherently valuable, and can never be lost means you NEVER LOSE value/money on the metal.

Only the short term people lose. I kind of groan reading negative postings about how silver is under performing because the main point is being missed.

The total number of ounce of silver on this plant is FINITE. What does this mean? It is inherently valuable, and in the future it may be used into exhaustion.

What does this mean?

Silver is always inherently valuable.

You are complaining about a priceless commodity that is being burned through with industry, that has limited above ground stock that is not actively mined going down in price?

What are you losing max? $10-20 per ounce? That is alot?

I call that small thinking.

Of course that is just my perspective.

Idk... Your opinion may be different than mine.
I like your speech, I feel the same.

when I first got on board in this forum, I was under the assumption that this is a silver stacker's forum. Meaning, folks who stack silver come here to discuss the metal. Boy was I wrong. Much of the members here, if not most, are stacking the kind of silver that is not physical. And there are others who hate silver altogether. They come here to rile the crowd, guess they are bored with life, or it could be hired to be here? Haha I would hope its not the latter.
and then there are a few genuine silver stackers here, who are doing just that-- stacking silver.. physical silver.
and not for the short term..
either way, one things for sure, one can always drop in here for a chuckle or two;)
carry on stackers
 
DoolBrevlis said:
I like your speech, I feel the same.

when I first got on board in this forum, I was under the assumption that this is a silver stacker's forum. Meaning, folks who stack silver come here to discuss the metal. Boy was I wrong....
Dude! It's not SilverMasturbators, it's ok to have contrarian opinions from the majority. In fact, over the last year the bears have been more right than wrong and provide a welcome moderating effect on the to-the-moon-tomorrow crowd.

Plus, you can just ignore the price threads. Plenty of other general info threads on silver and gold.
 
SilverPete said:
DoolBrevlis said:
I like your speech, I feel the same.

when I first got on board in this forum, I was under the assumption that this is a silver stacker's forum. Meaning, folks who stack silver come here to discuss the metal. Boy was I wrong....
Dude! It's not SilverMasturbators, it's ok to have contrarian opinions from the majority. In fact, over the last year the bears have been more right than wrong and provide a welcome moderating effect on the to-the-moon-tomorrow crowd.

Plus, you can just ignore the price threads. Plenty of other general info threads on silver and gold.
no doubt you aren't wrong there.
you silver stacker you
 
just quickly, I gotta go make some $$ to buy some more oz.

silver may be a byproduct of eg LEAD and ZINC mining, however (to state the obvious) the mine management includes the profit from the silver extraction in their viability study.
a second obvious statement. The ore does not get to the plant with the help of pixies. there is a cost. as such, the silver % of the profit needs to take on the pro-ratia cost of this
earth moving.

$1.00 to make an ounce of silver is one of the more stupid comments our american friends have come out with.

I've been watching some american movies recently, and couldn't help but notice the characters were doing stupid things. I have come to the conclusion that Americans are in fact this stupid.
Give them the chance to shoot themselves in the foot - BANG! doh.

have a great day. buy some silver.
 
nsw2206 said:
just quickly, I gotta go make some $$ to buy some more oz.

silver may be a byproduct of eg LEAD and ZINC mining, however (to state the obvious) the mine management includes the profit from the silver extraction in their viability study.
a second obvious statement. The ore does not get to the plant with the help of pixies. there is a cost. as such, the silver % of the profit needs to take on the pro-ratia cost of this
earth moving.

$1.00 to make an ounce of silver is one of the more stupid comments our american friends have come out with.

I've been watching some american movies recently, and couldn't help but notice the characters were doing stupid things. I have come to the conclusion that Americans are in fact this stupid.
Give them the chance to shoot themselves in the foot - BANG! doh.

have a great day. buy some silver.

Hey NSW, grow a pair. Have a birthday. Stick it with a stick. If it weren't for us, you wouldn't be enjoying the life you have. Instead of poking fun of us, you should appreciate what we've done, and now we're providing cheap silver to meat heads like you.
 
House said:
It's on the way back up. Can we please have a plethora of 'to the moon' threads too. Thanks.

Send me an Aztec kilo Calendar coin and I will get right on that. :)
 
nsw2206 said:
just quickly, I gotta go make some $$ to buy some more oz.

silver may be a byproduct of eg LEAD and ZINC mining, however (to state the obvious) the mine management includes the profit from the silver extraction in their viability study.
a second obvious statement. The ore does not get to the plant with the help of pixies. there is a cost. as such, the silver % of the profit needs to take on the pro-ratia cost of this
earth moving.

$1.00 to make an ounce of silver is one of the more stupid comments our american friends have come out with.

I've been watching some american movies recently, and couldn't help but notice the characters were doing stupid things. I have come to the conclusion that Americans are in fact this stupid.
Give them the chance to shoot themselves in the foot - BANG! doh.

have a great day. buy some silver.

Shows what you know. Pixie labor is factored into the cost of silver refining. Read the annual reports. :)

Who said anything about $1.00/oz to make silver and where can I get some?

I've been watching some Australian movies recently (Crocodile Dundee, Animal Kingdom, etc.), and couldn't help but notice the characters were doing stupid things. I have come to the conclusion that Australians are in fact this stupid. Give them the chance to cut off their feet - Whack! doh.

Just sold some bullion silver for an average of $49/oz. Going to use it to buy $1/oz silver when the poster responds. If not, cash is :cool:
 
barsenault said:
Hey NSW, grow a pair. Have a birthday. Stick it with a stick. If it weren't for us, you wouldn't be enjoying the life you have. Instead of poking fun of us, you should appreciate what we've done, and now we're providing cheap silver to meat heads like you.


I can only imagine how much better the world would be if America wasn't so American.
How many countries do you guys bomb every year?
How many weapons supplied to the terrorists America's created with these bombings?
You know, if you think about it.. America thinking its the world police? That's good old fascism. nice eh.

I wont even bother going into the problems your reserve bank is causing the rest of the world with QE. Stupidity goes right to the top management eh?

Thanks America.
 
dccpa said:
House said:
It's on the way back up. Can we please have a plethora of 'to the moon' threads too. Thanks.

Send me an Aztec kilo Calendar coin and I will get right on that. :)
Dont do it house ...i'l do it for any dirty/dinged/cored/second hand :p: /unloved....even an old ainslie bar :lol: kg bar you have
 
renovator said:
dccpa said:
House said:
It's on the way back up. Can we please have a plethora of 'to the moon' threads too. Thanks.

Send me an Aztec kilo Calendar coin and I will get right on that. :)
Dont do it house ...i'l do it for any dirty/dinged/cored/second hand :p: /unloved....even an old ainslie bar :lol: kg bar you have

That's why we keep losing jobs in America. You foreigners keep undercutting us on wages. :(
 
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