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Was $44 back in 2011.
When the USD was worth more. The historical silver charts adjusted for inflation show that high in 5-2011 was equivalent to over $60 today.

My timeline goes back further, to 1-1980 when the Hunt Bros. drove the price way up to about $50; that value adjusted for inflation is over $200.

So silver has to gain a lot more to match those highs adjusted for inflation.

I remember the 5-2011 spike very well. My son was making pretty good money, I suggested he might want to put some of it in precious metals. He gave me the funds and I bought some silver for him during a dip around 9-2008. I think silver was around $15 then. Fast forward to 5-2011. By that time, my son was getting into a real estate deal and needed some money for a down payment. It was my opinion at the time that this spike into the $40 range was probably a secular event, not often seen based on history. We don't see big, quick run-ups like that very often in a lifetime.

When I went in to cash out my son's silver on 5-2011, there were older guys standing in line with ratty cigar boxes of silver coins, etc., that they'd been hanging onto for years. They saw this as a rare opportunity as well.

We're not there yet at $31.

Always remember, trading and holding are two different things. They are done with different goals in mind. In any case, buyers are well advised not to buy on peaks but to wait for significant dips. Which can be years in the coming. In secular events, holders might swing to trading in the hope of repurchase at significantly lower prices after the spike. I became a trader in 1980; the spike to $50 persuaded me to part with silver that I had $5 in. In truth, I didn't quite get the timing right, I sold in the $40's. It's really, really hard to know the exact peak. Right after that, I switched back to buyer / holder.

After the big spike in 1980, by 6-1982, silver had dropped to $5.10 the oz. So if you'd bought at that level and held to 5-2024, adjusted for inflation, your basis price would be only $16.42 and you'd nearly doubled your money in adjusted terms with silver now at around $31. No doubt there are other investments that turn out to have better returns, which you don't necessarily know going in.

From 1986 to 2003, there was a long, barren, dispirited era for silver during which it languished around + / - $5. During this time, I bought silver from discouraged survivalists. They didn't have the long view of it.

My dad got me started as a silver bug. He had a second job, part time, working in a retail store at night. When it was announced in 1965 that silver was going to be taken out of circulation, he bought silver coins at face value out of the register where he worked. I still have those coins that he saved. Today, they are worth about 21 times face value for silver content.
 
Today, they are worth about 21 times face value for silver content.
What's the reason for saving these? Sentimental? Some of these coins are worth more than just junk silver. The coins we just took in had five mercury dimes. I asked the guy if they were worth more. He said 1916 dated would have been.
We really like the folks at "Liberty Coin and currency". Very willing to talk with us. I had a little old sterling silver cigarettes' case that I'd had for many years. Used to keep a couple doobies in it way back in the "dooby-doin days". That little case was worth $40.00!
 
What's the reason for saving these? Sentimental?
I'm not sentimental about precious metals. These coins are part of the hold strategy. That is, as a form of insurance. Or "portfolio diversification" as financial planners might say. I have no basis cost in them; as a form of insurance against potential future events, they present no downside. I would surely consider cashing them in if we encountered a spike of serious proportions. Under otherwise favorable conditions. What I fear is a spike that is accompanied by other financial turmoil. Meaning, by cashing in, am I assuming a riskier position? Like cash that might be rapidly losing value. That wouldn't make sense.

Based on my observations, I don't think there are many if any coins in this lot that might have any numismatic enhancement. In fact, I've segregated out the older coins that are "smoothies" because any knowledgeable dealer would pay a little less for them as worn coinage. Worn coins don't have quite as much silver content as better ones. I like storing them in rolls. My dad died in 1984. After that, my mother kept them in a safe. I got them in 2017 after she died. As part of estate settlement, my sister had them professionally appraised. The appraiser broke them all out of the rolls for counting, I'd guess maybe by machine. They were in sacks when I got them back. I had to re-roll everything.
 
...What I fear is a spike that is accompanied by other financial turmoil. Meaning, by cashing in, am I assuming a riskier position? Like cash that might be rapidly losing value. That wouldn't make sense...

Yup!

The other thing to keep an eye on as PM pricing fluctuates is the ratio. Gold->silver, silver->gold.

Catch that reasonably well & you COULD increase your holding.

Was considering converting some gold to silver a bit ago. Not now. Now, more than likely conversion would go silver->gold. Perhaps.

We'll see what the coming weeks show...
 
Meaning, by cashing in, am I assuming a riskier position? Like cash that might be rapidly losing value. That wouldn't make sense.
That's the part of this I always seem to forget about. It's hard for me to grasp using PMs for necessities if the crap hit the fan.
 

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