Silver. Anyone can tell me why it's so cheap? Doesn't seem right

have you noticed humans like rarity as well?

>Anyone can tell me why it's so cheap?

Why shouldn't it be? If anything, it has a more honest price than gold. Gold carries a lot of assigned (aka made-up) value. Silver is just an industrial metal, following supply and demand.

Silver doesn't have a history, a legend, a perceived value. It's never going to turn into a reserve metal or precious asset for average Joe Pensioner. Most of the developed world even levies VAT on physical silver which absolutely kills investment potential for private investors.

trying to diversify my investment. I need something for the long to very long term, is silver interesting?

You mean werewolves
Only useful application of the moon phase indicator

you're probably right. production costs of silver are at max around $10 to $12 and producers are currently expanding. looks like it's actually over valued.

doesn't look like it:

>gold costs $1300 an ounce because it conducts electricity
when will this meme die?

shitcoin

Just give to a (((broker))), get a well diversified stock portfolio.
Disclaimer: I bought a bunch of PMs years ago, they've become bags, and I have little faith that will change.

omg, silver is a meme

youtube.com/watch?v=bYhTFz_SGw0

>5340861
silver is a great all rounder. heat and electricity, corrosion proof just tarnishes. excellent element. and cheap.

Are burgers really that fucked?

56% face leads to 56 IQ

I currently hold 70 ounces of silver that I bought for overall 1488,40 €urobucks (no, I'm not larping it's really that number)
But currently they're only worth about 1230€
I want to sell them as soon as possible and reinvest the money into something more profiting, should I wait longer or just take the 210€ loss?

...

I think people are just suspicious. If some random guy walked up to you and said 'ey man you want a free bar of silver?' you might also think that he can't have any good intentions and this is some sort of scam.

try asking some family members or friends what they think an ounce of gold and an ounce of silver cost. you'll get wildly incorrect responses. people have no clue if they aren't involved/own PMs

Wait for new year. Silver and gold prices are manipulated to hell and back.
Mass indictments will happen next week, which should create a revaluation. Look out for USN announces.

>Mass indictments will happen next week, which should create a revaluation. Look out for USN announces.
What specifically do you mean and what's USN?

Silver is used in solar cells.

Buy if you think China or America will adopt green energy. Fuck silver if you think not.

That's about it. Anyone with money and interested in metals is more interested in gold, palladium, platinum. Silver is the poor man's store of wealth.

gold is ugly

Mass indictments
whitehouse.gov/presidential-actions/executive-order-blocking-property-persons-involved-serious-human-rights-abuse-corruption/

USN is a gold-backed USD. Trump should announce it in the next days.

Something's really off about your numbers.
You bought in for 1488.40/70 = ~21.26 EUR/oz.
The last time silver spot has been above 21 EUR was in 2013 and ever since it's been hovering around 14 EUR per ounce.
Today it's around 13.64, meaning your 70 ounces are worth 954.80, which works out to a loss of 533.60 EUR, nowhere near the 210 EUR loss you claim.

And that's if you were able to sell at spot, which is not a given.

Still, it shouldn't actually matter. Don't let the sunk cost fallacy taint your decision. Do you believe your 950 EUR of silver will in the future provide higher returns than a 950 EUR invest into something else? If no, get out of there, regardless of how big your loss is. Your decision should be based on the current best use of your capital, not based on justifying a dodgy decision you made years ago.

If you want to achieve the highest gains, physical silver is a bad vehicle anyway. As a diversification and maybe a hedge (although given that its price follows industrial demand it's actually a terrible hedge, unlike gold) silver is an option. For gains - not so much.

So you'd rather ingest something that sketchy dude offered you?? What kind of logic is that?

It's just rock, why would it be expensive ?

>More common than gold
No shit, guess that's why it's 1/75 the price, but don't take my word for it

Its cheap because of crypto. Not even joking. If (when) the crypto bubble bursts, silver will see a resurgence.

Go platinum or go home

you take that back!

The numbers seem off because I didn't just buy silver, I bought US Silver Dollar and they buy and sell a bit above the "raw" silver price
Also I bought it in multiple tranches and I admit I was pretty dumb when I started buying because that was in June-August 2016 when Silver was rather high and the current price is far below that point
Then I bought again a few weeks back when I noticed that it hit the lowest price in 12 months and at least that tranche is profitable right now

But you're right, I made a mistake when I said I was 210€ down, because it's 260€

The price is manipulated, simple as that
As to why, who knows

That looks interesting, what's the tl;dr?

This.

:o
:)

>Its cheap because of crypto.
Roughly 1/5th of annual silver demand comes from coins and bars. The rest goes into industry and a little jewelry. Of that 1/5th most probably goes to people who have never even heard about crypto and would steadily demand silver regardless of how crypto does. I think you're vastly over-estimating the effect of crypto "investors" on the silver market.

I'll go out on a limb and say they probably have a bigger impact the other way due to the mining rigs they buy, which contain silver-plated electronics.

The only better conductor of electricity is graphene. That shit is $75/gram and super difficult to get.

shhhhhhhhhhhhhhhhhhhh keep silver on the downlow my friend. the children are busy watching their crypto coins.

I have like 20 silver eagles. It's a store of wealth and at all time low. It's a risk management in case shit goes down.

Precious metals shouldn't be more than 5-10% of your portfolio, don't expect much from it

I made $45k on silver in the past. Bought in 2002, sold near the top @$47.50. Feels good man.

You just have to buy Coins. you don't have to pay tax if its a coin. if its not its about 21 procent.

Guy back in the 30s tried to fuck over banks using silver and land as a backing and they illegally arrested him and seized all his shit, no news ever talked about it and you'll only find it in print.

>Silver doesn't have a history

did you sell the etf or the physical?

Supply has gone up rapidly.

Automation in the mining industry has made it so that the costs of mining silver have gone down rapidly the past couple of years.

This combined with the fact that we have found huge deposits of economical ore in 2012 means we are sure that supply will increase steadily while there is no real new application for this extra silver. Thus the market is adjusting the price lower in anticipation of this change.

This doesn't even take into effect that some countries with traditional silver mining operations have lowered taxes on mining companies meaning the cost is lower due to this as well.

All in all silver will be very cheap for the foreseeable future.

t. Electronics Engineer working for a company that specializes in automated mining sensors for drills and chemical extractors.

You expect retards here to know history?

Bought 100k of silver in may 2017 fucking kill me. Didn't get into btc till September. Fucking kill me again

This was a thing.

mfw there are people that browse Veeky Forums with this kind of intel

thanks, man. very insightful.

Really depends on your local laws. Over here it's 10% VAT on comemorative coins (i.e. coins where the nominal value is far above the metal value), but 20% VAT on bullion / bars / industrial silver. It really sucks.

wtf where?

>t. larper

Wow that's pretty cool actually ty

It will take some time for silver to recover, same with gold, because of the bubbles a couple of years back.

Don't be dense. Try to grasp the context instead of quote-mining.

But maybe you're right. After all most famous kings had silver crowns. There's that big silver rush in 19th century US. All the best athletes get silver medals. Legends of the silver fleece. Alchemists trying to convert lead into silver with the philosopher's stone. Spaniards trying to track down the famed City of Silver in South America. The three sages bringing silver, incense, myrrh to Bethlehem and Judas asking for gold coins to betray Jesus. Bretton Woods abandoned the silver-backed dollar, but thankfully all the silver's still safely stored in Fort Knox. I'll better stop talking with my brilliant silver voice now, after all silence is silver.

You're right, silver has a rich history of being coveted above everything else in terms of perceived value.

WHY IS DIRT SO CHEAP?

it's partly so cheap because it's not even mined anymore for itself, other metals mining also gets some silver contamination to the surface and this covers the demand. so basically it's mined almost for free as the operating costs are covered by the main mined minerals.

basically as far as miners concerned silver is like recyclable waste.

and this attitude sticks to silver on the markets also. even tho the industry is very hungry for silver the metal as a store of value is also strongly speculated against with futures and this helps the industry get cheaper silver.

so those are roughly the reasons.

when the price of gold climbs rapidly which is usually in periods of great financial crisis silver follows with a short lag. aside from that i agree, silver long term will not get more expensive there are silver mines shut down or even buying up silver waiting for higher price to operate (around $24-25 an ounce will get them started).

that doesn't mean silver can't break a new record in the coming years easily... it's all about psychology short term.

guy abandon ship! mikey balloney is shilling cryptos now. that mike balooney that has spent the last decade telling you weekly to buy pms even at the most unreasonable times.
ahahahahah.

Real deal. Were there even ETF's 15 years ago?

Artificially suppressed. Gold and silver both are, so the suppressors can buy more and to make fiat currencies seem stronger. They're good to have in market crashes and recessions.

Silver is cheap because there is a large supply of it that gets used. However, we are seeing a decrease in amount mined per year over the last 2-3 years, while the amount consumed (roughly split 50% bullion/jewellery and 50% industrial) has increased.

Price per ounce to mine is about 10 dollars and it is dependent on oil prices. So really the only 2 things that can drive the price up is a hike in oil or increased demand such as solar panel industry.

Stackers also believe the paper silver market is holding it down...read up and make your own conclusions.