Sunday, November 20, 2005

SILVER WAS STORED FOR 20 YEARS, NOW, JAN 10, 2,006.
On 9/28/86 George purchased 520 one oz rounds of proof silver at about $9.00/oz. I put 20 per square plastic cup and stuffed 26 cups into this 4 foot blue tube shown above. 19 years later they look beautiful, see above. On Nov 17, 2,005 they finally hit $8.05 and I decided to sell this tube for $4,186. This is a loss of about $500.00, but it is time to move on. Posted by Picasa

This is a different view of he container that held the 520 proof oz of silver rounds,sold at $8.05 ea. for a total of $4,680. Note the small packets on the left. Each contains .77 oz of silver flakes I got at the mint in San Francisco in 1968. At that time I turned in 142 one dollar silver certificates to get a 100 oz silver bar. They gave a packet of silver flakes for every extra dollar turned in. My next sale of silver will include this 100 oz Mint Bar plus a lot of other silver rounds I still hold. This all depends on the spot price of silver. $8.05 is the highest it has been in 3 years. I also hold some platinum which is worth $980/oz and rising. I am told that the Chinese Gov. is the cause of the rise in precious metals.  Posted by Picasa