Sterling Silver wire prices up ^UP TODAY

[Rockhobbit]

I ordered 3 more oz today! Rio Grande is charging $54 per oz! After this order, won't be able to afford to buy any for quite a while! Sad ...........sad..............sad!

[peachfront]

Rock prices, in real dollars, have collapsed. The price of most rocks I possess is the same, or lower, than it was in 1990, probably because of the much increased price of shipping heavy objects. I am not worried about rock prices. In fact, if anyone wants to invest in rock before the price goes up, I have plenty left to sell, more than I can work in a lifetime. :-)

It is too bad about precious metals getting so high. In our area, the same hustlers who buy gold are now advertising that they also buy silver. That makes us a target for thieves who are happy to sell other people's stuff for pennies on the dollar to get their next hit. The copper thieves have already been extremely destructive to homeowners in the New Orleans market. It isn't just the price you pay to buy the silver. It's the price you must pay to secure your silver. And you can't let it be known that you even have silver, if you don't have a pretty strong way to secure it. So that affects your ability to market your creations.

At this time, I think I have to decline to buy more silver and seek an alternative to using precious metals altogether. The silver I still own is in a bank vault. These insane price increases are very bad for the hobby, in my humble opinion.

Like Rock Hobbit, I too feel "Sad, Sad, Sad." I imagine that this bubble has to crash. There are always wars and rumors of wars, that is not the reason for the sudden price gouging in metals. It's the rush to a new bubble, in my opinion, now that real estate has crashed. Same thing happened in the late 70s/early 80s. Don't know how many months or years it will take the price to go back down to something reasonable. I just know that, eventually, it will. In the meantime, be careful out there if you are known to have a lot of precious metal.

There are places in New Orleans where air conditioners have been ripped out, so a crackhead could get the copper. If they knew of a place where they could pick up silver, and they know the buyer is just going to melt down the evidence...well, it's a bad situation to possess silver now, in my humble view. Just not worth it. Too bad, because it's a beautiful material.

[Don]

Time to markup all of my finished silver wraps to reflect the replacement cost of the silver.

[peachfront]

Absolutely, Don. Otherwise, you're soon out of business. You might sell what you hold now faster if you neglected to account for the replacement cost of the silver but what then?

[NatureNut]

Hey guys, the price of silver is dropping following the bin Laden news. They say it should stabilize at around $38 and then start climbing again. Time to buy new silver wire is now. Jo