re: SLV

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I see it as +0.04 in pre

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Yeah, now up .05


WTF is going on??? Did it rebound off of the inflation news?

Miners are risky at best, especially if you can't get your head around their cost to finish the product. They always take a beating when teh metal is down.

You might wish to consider SLW. It is really a royalty play. Also Sprott does lending to miners.

It could be painful for a while, but when silver recovers, both will follow their patter. Which is to say, explosively shoot up. They generally lag the price. SLW makes money no matter what the price of silver is. Rarely do they lose. Sprott's companies are very good to watch no matter what your position in silver is. He knows. He really knows.

Take it for what it's worth.

I don't exercise, I smoke very good cigars.

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I just bought 200 shares of SLW at $20.40.

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Be patient. I think you'll end up happy. Small dividend doesn't hurt things either.

Interesting read on SLW:

LINK

Interesting read on gold and silver ETF's:

LINK /

And another interesting, especially about premium paid to take possession:

LINK /

I wouldn't.

Everything is proceeding as planned. I left today at 2, so I could smoke a nice victory cigar.

Carry on.

I sold off at 19.30 and looks like pre-market its down to 18.50. Thinking of putting in a buy order if it gets down in the 18.20s

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I'm in the middle of closing out my year, or I could give you a complete laundry list why silver is a good long term hold.

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sure...I'd like to see it....I've been wanting to bet on silver going up, but haven't been following it..I've always invested only in stocks, etfs & mutual funds, but am wanting to put something into gold or silver now that they've come down...thinking of options instead of ETFs, stocks, or physical, but don't really know the ropes...

Also, do you spend time on any message boards to discuss stock trading?

* Yahoo is full of BS
* Seeking Alpha doesn't seem to follow stocks I'm interested in
* M Fool same as Seeking Alpha

Trying to pick a buy in point right now... I basically broke even with the last one, decided to sell off and try to reposition myself, I'm glad I did.

Dollar Bears Love Silver Coins

By Jeff D. Opdyke, Editor of Profit Seeker

Dear Sovereign Investor,
All that glitters is not gold … sometimes it’s silver.

It’s clear that despite silver’s depressed prices, the metal continues to shine brightly among a large group of people who remain concerned about the state of the world’s financial system.

The U.S. Mint, the Royal Canadian Mint and Australia’s Perth Mint are all on course to set annual silver sales records this year. The reason: Demand for silver coins is surging because those who realize the fragility of the West’s debt-addled finances want some of their wealth parked in honest money.

I’m one of those buyers. And if you see the value of insurance, you should be one of those buyers, too.

Chief Investment Strategist, Louis Basenese, just "cornered" the ENTIRE tech market. It only took him 10 minutes to do it, too. The last time he found such a shockingly mispriced stock, well… tons of our readers got rich! One reader made in excess of $2 million. If you missed Louis' webcast, it's okay. You still have time to prepare. Click here for an exclusive re-airing of what happened. When the Opening Bell sounds at exactly 9:30 AM EST, it's likely going to be crazy! Click here to prepare.

Here’s what I find compelling …

Silver prices so far this year are down nearly 35%. The metal — I call it a “precious industrial metal” because of its dual role as a currency and an industrial commodity — is back under $20 an ounce. Yet demand is surging.

In the world of assets, that’s odd. Think about the stock market, or the housing market, or just about any market you can think of. Typically, when prices are tumbling, investors are fleeing! They want nothing to do with catching a falling knife … and down 35% in a year is catching a falling knife.

Why is it, then, that investors so clearly disregard silver’s recent trajectory? Why are they loading up on an asset that’s under pressure? (And they are absolutely loading up; the three mints I mentioned above have sold more than 71 million ounces of silver so far this year, the highest on record.)

Those are trick questions … to see if you’ve been paying attention to your Sovereign Investor dispatches this year.

The answer goes to what I write about all the time when it comes to gold and silver — insurance.

The global financial crisis and its myriad knock-on effects didn’t teach us that house prices in America can go down. It taught us that the great minds — and I use that very loosely — running the world’s monetary and financial systems — bankers and central bankers — are generally: A) just as stupid as the rest of us when it comes to figuring out the inner workings of a global economy with way too many moving parts to track; or B) purposefully trying to destroy the value of Western currencies to better deal with the ultimately unmanageable levels of debt that governments have amassed … or — and this is my bet — C) some combination of the above.

This risk is that those great minds fail … or succeed. It really doesn’t matter, since either option is bad for us.

If they fail, they unleash a wave of debilitating inflation that raises the cost of borrowing for debt-ridden countries like, oh, say, America, and that will ultimately undermine the currency.

And if they succeed, it means monetary authorities have undermined the currency to such a degree that their respective countries’ massive debts have become more manageable.

Either way, the common denominator is “they undermined the currency.”

The buying frenzy in silver is a clear indication that many people recognize the currency risk we face today. That’s why they’re grabbing fistfuls of silver even as the price drops. They’re buying insurance against the very real possibility that governments or central bankers kill the cash in our pockets … and the cheaper that insurance is priced — the farther the price of silver goes down — the more they buy. Take a look at this chart …

As Silver Falls in Price … Buyers Buy More



See larger image
The chart plots monthly silver sales at Australia’s Perth Mint (in blue) against monthly average silver prices (in red). The lighter-shaded lines are the trend lines, which clearly illustrate my point: As silver prices are falling, hoards of buyers are rushing in to buy insurance on the cheap.

The Best Value in Silver Today …

As I noted at the outset, I’ve been a part of this trend of snapping up silver commemorative coins minted between 1892 and 1954. They’re incredibly cheap. You can buy high-quality coins — in grades of MS65, MS66 and even some in MS67 for less than $1,000 … and some are only a few hundred dollars.

To me, they are the best value in silver today. Many of these coins were minted in quantities of just a few thousand. And at the higher grades, only a handful of coins exist. Because they’re popular among collectors — and among telemarketers when the coin market is hot —they hold the potential to soar in value as silver-bullion prices rise.

There’s also a great opportunity in Morgan silver dollars, one of the perennially popular coins because of its design, its affordability and the fact that so many still retain their first-day luster because they were never circulated. And like modern silver coins, they, too, speak to the shortage of available silver coins that exists today.

Because of what I see happening in the silver market, I’m recommending you buy any silver commemoratives you can find in MS65 or higher. Or get in touch with my friend and rare-coin dealer, Van Simmons, and grab one of a very limited number of 20-coin Morgan dollar sets he has been able to piece together. (He’s at van@davidhall.com or 1-800-759-7575.)

Until next time, stay Sovereign …

Jeff D. Opdyke
Editor, Profit Seeker