SO YOU GUYS call yourselves GAMBLERS

[nobs]

No thats wrong. It costs far less than $16 an ounce to mine it.

But when you include all costs like exploration, assying, refining, mining, labor, taxes, energy, shipping then its over $16.

Its hard to figure an exact cost because most is mined as a by product of other metals, only a very small percentage of silver comes from primary silver mines, its mostly from copper, gold, and other metals.

Even once it comes out of the ground it has to be assayed and refined before its used as silver. Still we are at close to peak silver, they are mining 600,000,000 to 700,000,000 ounces per year and just because the price has gone up doesnt mean we are going to see them start mining 1,000,000,000+ ounces per year, which is close to what the world is using nowadays.

[nobs]

This is from another site. I dont think we are allowed to put links here.


As much as 75% of silver's production comes from gold, copper, lead, and zinc mining which is why changes in these other industries have a large impact on the price of silver. On the demand side, silver (like most commodities) benefits from strong world growth, a weaker U.S. dollar, and increasing use in electronic applications. According to an article in Barron's on June 8, 2009, the cash cost of producing silver is somewhere around $6.50 to $7.30 an ounce, but that rises to as much as $22 per ounce if exploration costs are included.
Fundamental data is hard to come by for the silver market, but the Silver Institute said that world mine production totaled 681 million ounces in 2008,

[callim105]

this seeeeeeems reeeeediculouissss

[nobs]

the cash cost of producing silver is somewhere around $6.50 to $7.30 an ounce, but that rises to as much as $22 per ounce if exploration costs are included.



This still leaves out some cost associated here, like transporting from Peru to the U.S. millions of ounces which has to be costly. Also, the cost of making blanks and minting.

I also have another link from the U.S. geological survey which claims that at current production rates of 600,000,000 to 700,000,000 ounces per year there are only 12 years of economically minable silver left on earth. Im not saying I agree with that, but it does say that.

[nobs]

this seeeeeeems reeeeediculouissss

Why is it reeeeediculouissss to buy a precious metal used in millions of products for $17 an ounce, but its not reeeeediculouissss to bet hard earned cash on some 18-20 year old kids playing basketball ? The latter seems far more reeeeediculouissss to me.

[Outlawdino]

BUY !!! BUY !!! BUY !!!.....and by the way, short wal-mart

[Outlawdino]

Anyone want to hate on silver now? Or even gold? It's much higher than when I started buying.

[nobs]

Yeah, up another 3% today. Flirting with $18 now. I was actually hoping it wouldnt spurt up so quickly, every time I buy it costs more than the previous time.

[nobs]

Just got a roll of Barber Halves in G/VG for $130 not too bad.

[nobs]

Outlawdino and Glitch,

I think we are going to make some good dollars off silver in the next few years.

[nobs]

Up another 3% today. Closing in on $19

[dise-pa]

I used to mine for gold it was fun and profitable just was to broke with wife,kid and a job!!!weekends for me

[nobs]

Silver now at $22 an ounce.

There has to be a pullback soon but still shwoing little to no resistance

[nobs]

up to $23 an ounce now. Nearly 50% increase since I posted this thread.

Time for a pull back I think, its increasing too fast

[jjgold]

Well nobs nailed it

Silver at this hr is trading at 22.885

We could of all made a nice buck

[nobs]

jjgold

thanks but this isnt the way i was hoping it would play out

im buying , not selling.

was hoping it would stay around $16 for a while longer. i dont feel comfortable the way it has exploded lately and now most sellers want $26-$30 an ounce as there is a feeling its going to $30 soon.

Im not buying any more at these prices, I am sitting out and hope it falls back toward $20 soon

but i wouldnt doubt if it goes toward $30

[Outlawdino]

Subject revisited...$1400+ Gold...$26+ Silver.

[nobs]

Unreal.

never thought it would explode like this.

Silver now $27.35 in overnights

[Glitch]

[nobs]

I was hoping silver would stay in the $15 range a little longer though

[pronk]

I was hoping silver would stay in the $15 range a little longer though

Nobs, when republicans win in 2012, we will see cheap silver and gold again. This idiot Obama prints way too much paper money.

[nobs]

Some Big Corrections Today

Silver - $1.64

Gold - $40.10

Platinum - $88.00

Pallasdium - $35.00

[Gonad]

Nothing to worry about as we're in a metal bull, and short-term corrections are normal.. Bought precious metals during the '08 crisis, sure beat the hell out of the money market account I was parked in... Should have bought more silver, it's damn hard to pull the trigger now...

Haven't seen the pundit yet that rationally explains how the United States gets out from under this crushing debt...

[nobs]

Yeah I agree. Its just not going to happen.

Even if the Republicans win the White House in 2012 and start implimenting the cuts that would be necessary all that would do is cause people to vote democrat in 2014 and 2016.

People say they want the deficit lowered but everyone wants it lowered by someone else paying the price. Noone wants tax increases and everyone living off the gov't wants to keep their welfare checks, food stamps, WIC, EIC Checks, Section 8 free rent, Free healthcare, etc.

We are only going to see the deficit increase over time regardless of which party is in power.

[nobs]

Another nice drop today.

[nobs]

Another drop today and the overnights are down as well.

Serious correction under way now.

Gold has gone from over $1400 down to just over $1300

[nobs]

fking silver over $30 an ounce.

Just cant buy at this price

[nobs]

Nothing to worry about as we're in a metal bull, and short-term corrections are normal.. Bought precious metals during the '08 crisis, sure beat the hell out of the money market account I was parked in... Should have bought more silver, it's damn hard to pull the trigger now...

Haven't seen the pundit yet that rationally explains how the United States gets out from under this crushing debt...

Yeah especially when all both parties want to do is keep adding to it.

[nobs]

I bought a 100ounce bar back when I was 17 for 700 bucks....sold it last year for 1300 or so.


Silver at 16 bucks is pretty high price....But go ahead and buy a shit load.

So what do you call silver at $45 an ounce ?

[nobs]

Right now as I type this, Silver is $16.34 an ounce on the London Overnights. The price of silver can only go one way and that is up. It may take a few years ( or not ) but we are going to see $40-$50 silver before the end of this decade.

It only took 1 year

[nobs]

http://finance.yahoo.com/q/bc?s=SLV&...=on&z=m&q=l&c=

topped off around 20 dollars during the financial crisis. did a 10 for 1 split in july 2008. looks promising

Nice call on this too Pico. Dont know what it was at the time, but its $43 right now. Im guessing it was around $15 at the ime.

[Pete0]

Sharp post

[nobs]

Never expected it to explode like this though. I would have preferred a slower increase in price. Silver may be heading to $100, i dont know. But I just cant buy at this price.

[Pete0]

www.endofamerica2011.com




-------


unreal.

silver jacks up, gold up, inflation.
all that "economy is bad right now" talk.

matchbook pulls out of DC. online poker does.

now major poker sites out in US.


and washington legalizing gambling + marijuana...

its coming....

[rkelly110]

Not into the metal markets, but since gold is so high and silver is cheaper, you would
think the speculators would jump all over silver. Which looks like the case.

What are the other metals doing?

Just curious, is there a commodity that's "in charge" of raising or lowering other commodities?