Treasure Classifieds Forum

Aside from when I offhandedly see the current spot prices somewhere, I rarely pay attention anymore. The market is rigged, plain & simple. Both silver and gold should be sky high right now, with the upheaval the world is in, and that it isn't, is very telling. The dollar is very weak now, and has been since around 2007. So why aren't precious metal prices spiking? I'm not an expert in the markets, but one doesn't need to be to understand that the working class, average guy is being taken for a ride.

Joe

Well stated Joe you are spot on. Many countries are doing bad right now, even China has cut back. Things are bad world over and markets are manipulated big time.
I watch the scrap market at least daily waiting to cash in my scrap to the junkman. My brass, copper and aluminum are taking up space.

I picked up an Ike dollar 1776-1976....I looked it up on the silver scrap value and it says it is worth a whopping $6.21.....yikes....that is better than a few hours detecting.....is this cool?

I expect many people are doing just what you did Tony. Those odd and end old silvers sitting around in drawers and boxes are looking mighty good right now. I don't have a whole lot of silver presently, and most of that has sentimental value, so unless I have a downturn in finances, I'll probably hang on to it and pass it along to the kids.
Joe and Dusty raised good points about market manipulation. Lots of good reading available about all the players in the game and their motives for influencing the direction of silver  prices.

Shade, I agree with them that the manipulators are out there.

I was just fascinated by the scrap price of this coin. So, after I posted I checked ebay to see what they are going for and you can buy this exact coin for $2.99 with free shipping.
It's just crazy I tell you - we are in the wrong hobby - I just might start coin roll detecting soon - after all it is too hot to dig dirt here in NJ.

I didn't think a 1976 Ike dollar contained any silver , unless it was a proof coin . Maybe I misremembered , that happens more often as I get older.....

Your memory hasn't failed just yet Pat. General circulation Ikes in 1976 were clad, but special mint coins for collectors were available in 40% silver. I think a lot of clad Ikes have been passed off as silver to unsuspecting buyers looking for a good deal.

(07-07-2016 11:08 PM)shadeseeker Wrote: [ -> ]I expect many people are doing just what you did Tony. Those odd and end old silvers sitting around in drawers and boxes are looking mighty good right now. I don't have a whole lot of silver presently, and most of that has sentimental value, so unless I have a downturn in finances, I'll probably hang on to it and pass it along to the kids.
Joe and Dusty raised good points about market manipulation. Lots of good reading available about all the players in the game and their motives for influencing the direction of silver  prices.

Anyone remember the Hunt brothers?

2 average (but fairly wealthy) guys from the deep south that manipulated the silver market in the 70's & 80's. They got greedy though, and their plan went bust, along with their fortune. But...

If 2 simple guys could do that, before the massive technology we have now, before the instantaneous information we're all afforded now, imagine what's being done today? And not just with silver, but all precious metals and commodities...the entire market, as a whole.

Those who make the rules, or the one's with enough to buy & sell millions in the markets on a daily basis, can move the tides in whatever so direction they wish.

Ask yourself this...

The national debt clock, the unemployment rates, or any other data that's thrown at us on a daily basis, how do we know it's indeed accurate? Suppose one digit gets "accidentally" omitted or changed. How do we know what the real deal is? Can we track it? Monitor it? Unlike our bank accounts, where we know precisely what we put in, and precisely what we have in there at all times, any information disseminated by our government should be very suspect.

Most of us, I'm assuming, get by on some type of household budget. We must live on less than what we take in. Simple. If we live on more than what we're taking in, we cannot survive. So, can anyone tell me, how in the hell this country is still kicking, if indeed we're so in debt? Forget about thriving, I'm only talking keeping our heads above water. And...

With all of that debt, with all of the fear out there, with all of the uncertainty, why isn't silver and gold at least double or triple its current price?

How long will we continue to print more money, and drive down the value of our currency? Why do we put ourselves in a position to be bought & sold like cheap whores to the Asians, who keep buying our debt, and could own our asses at the drop of a hat?

While we're busy typing away on this forum, or enjoying a ball game on t.v., there's some seriously crafty cocksuckers out there devising some new ways to manipulate the system, and keep more of the wealth for themselves. While we're kept content with cold beers & underperforming 401k's

Joe

Good post Joe. I do remember the Hunt brothers and they almost got away with their scheme. But they learned a lesson that everyone learns sooner or later---there's always someone bigger and badder, and in their case it was the Chicago Board of Trade and the COMEX, (probably in collusion with the feds) who changed the buying and selling rules in the middle of the game. That had the effect of dropping silver prices and the Hunts, being so severely leveraged couldn't meet their margin calls in a falling market. BUST big time! Therein lies a good point that you made, the USA is also highly in debt and who knows when the rules might change again.

Speaking of the Hunts, I still had most of my silver finds from my hey-days of detecting and I unloaded most of it when their scheme pushed silver into the upper 40's. I didn't get rich of course, but I didn't have to declare bankruptcy either!

Thanks guys for pointing that out, this coin doesn't have the S mint mark. So it is just spendable because it's melt value is a whopping 11 cents, yikes!

I remember the Hunt brothers, crazy stuff for sure. Folks trying to cash in on other people's money.

I read another article that discussed where all of the silver halves ended up.....Las Vagas in slot machines. That explains why Binion hoarded his silver coins in a vault on his property. He owned a casino and he was killed buy his girlfriend and her real boyfriend several years ago. They loaded his silver into a pickup truck and a Vegas cop stop the truck for overload.

Joe, I think this country is still kicking from all of the political smake and mirrors...