I would love to see silver get that high, but I don't see it happening any time soon. Even if it did I think it would only be in the paper markets (maybe I should play SLV just for kicks?).
One of my coin dealers was in business in the early 80s. He said that when silver hit $50 per ounce, they were paying mid 30s from customers, and he pays well compared to what many do. He said the refiners were so overloaded with silver people were dumping due to the high prices, they were not paying much for it relative to spot.
I think if silver ever hits even 25 you are gonna see alot of people unloading physical. I know many that are simply waiting to get back to 20 to unload a bunch.
That doesn't mean the price still cannot go up from there, but I think there will be stages all the way up where different investors are unloading all the silver they purchased in the past decade or more, thinking rightly or wrongly that this is the top.
Maybe if the dollars really really crashes or it can be proven there are serious reserve problems with silver it might make it to 100 or more in my opinion.
I would like to see it hit 1000 so I can retire young.
Jim
