Silver Contest: Week 12 (of 11)

[iWriteStuff]

Time for the bonus round!

Since nobody usually guesses until Thursday anyway, it's time to see what everyone thinks the spot price of Silver will end up at as of market close on Friday, July 7!!! The winner will receive the glory, praise, and honor of being an absolute genius speculator, albeit none the richer as IWS has not the deep pockets and unlimited resources of his highly esteemed colleague, Silver.

Rules as follows:

1) Guesses must be submitted at least one second before the spot market closes.
2) Guesses must be denominated in a currency currently in use somewhere in the world as a medium of exchange. This may include US Dollars, British Pounds, Canadian Loonies, Euros, Yen, Yuan, or Yak dung.
3) Must be between 1 and 1,000,000 years old to participate. Ageless beings are exempt from this requirement, naturally.
4) In case of a tie, you both win exactly nothing.
5) BrianM is welcome to participate, although I can't see why he'd want to.
6) Editing of guesses will result in immediate banning to the Outer Darkness subsection of the forum.
7) If you come in second three times in a row, you still win exactly nothing.

Best of luck to all, and may the odds be ever in your favor! B-)

[Silver]

銀66.09円/グラム

[BeNotDeceived]

$16.02

Keep the 2 cents, but adjust to the reduced price indicative of a prosperous stock market.

[iWriteStuff]

$16.02

Keep the 2 cents, but adjust to the reduced price indicative of a prosperous stock market.

I would have bet anything you'd say $17.02 again! And yet $16.02 might actually be spot on! (pun intended)

Here's an interesting nugget that shows the seasonal price action for precious metals, although more particularly gold. The buying season is just around the corner!

seasonal PM prices.png (72.24 KiB) Viewed 4060 times

[EmmaLee]

$16.08

[Older/wiser?]

I am probably to late , but being as the prize is just glory I'll go with $15. 97 good thing I don't gamble this is to much fun

[kittycat51]

$4.0052 (I couldn't figure out how to get that 2 up in the right hand corner) /:)

[iWriteStuff]

I am probably to late , but being as the prize is just glory I'll go with $15. 97 good thing I don't gamble this is to much fun

Da Rules:
1) Guesses must be submitted at least one second before the spot market closes.

You have until 4:59:59PM EST on 7/7/2017 to get your guesses in, so game on!

I'm predicting a rally in silver next week. Just saying!

[Silver]

http://www.ebay.com/itm/100-Troy-oz-Rep ... 5000006556

For low premiums.

[iWriteStuff]

Hey, look! Other people agree with me.

Can Silver Shake Off This Summer Slump? Phil Streible's Take
Jul 06, 2017
With the silver bears in full swing and the metal trading below $16 an ounce -- the lowest level this year -- how can commodity investors deal with this summer slump? "Many traders have been scratching their heads on how to try and take advantage of the currently low volatility environment," said Phil Streible, senior market strategist for Chicago-based RJO Futures. "Historically this has been a value zone on the charts followed by a significant rally. One of the key ratios to keep an eye on is the gold/silver ratio that measures the number of ounces of silver it takes to buy one ounce of gold," Streible said in an interview with Kitco News. He added, "[W]ith the Fed minutes behind us and expectations already baked in for a rate hike and further reduction of the balance sheet, I believe that silver will see the next major rally on the heels of an escalation in geopolitical risks."

Gold/Silver ratio currently at 76.5, meaning it takes 76.5 ounces of silver to buy one ounce of gold. Another way of saying this is silver is currently undervalued and set for a nice rebound.

[Silver]

Hey, look! Other people agree with me.

Can Silver Shake Off This Summer Slump? Phil Streible's Take
Jul 06, 2017
With the silver bears in full swing and the metal trading below $16 an ounce -- the lowest level this year -- how can commodity investors deal with this summer slump? "Many traders have been scratching their heads on how to try and take advantage of the currently low volatility environment," said Phil Streible, senior market strategist for Chicago-based RJO Futures. "Historically this has been a value zone on the charts followed by a significant rally. One of the key ratios to keep an eye on is the gold/silver ratio that measures the number of ounces of silver it takes to buy one ounce of gold," Streible said in an interview with Kitco News. He added, "[W]ith the Fed minutes behind us and expectations already baked in for a rate hike and further reduction of the balance sheet, I believe that silver will see the next major rally on the heels of an escalation in geopolitical risks."

Gold/Silver ratio currently at 76.5, meaning it takes 76.5 ounces of silver to buy one ounce of gold. Another way of saying this is silver is currently undervalued and set for a nice rebound.

Buy, buy, buy!!!

Well, there is an alternative point of view. Some see a tightened Fed policy as a means of clamping down on inflation which would decrease demand for precious metals. However, in light of heightened concerns about another war in Korea and the antics going on in the Clown Room (formerly known as the Oval Office), metals could still go crazy as a safe haven. In which case, the best advice is Buy, buy, buy!!!

[mirkwood]

$2112.00

[iWriteStuff]

$2112.00

Pesos?

[Silver]

$2112.00

Pesos?

Dollars. He's boxing out all the folks who will guess $2113 and higher.

[iWriteStuff]

Just for kicks, I looked up the monetary value of Yak dung and found this:

A curious illustration of the monetary value of fuel in this arctic region, where the only available material, namely, yak-dung, is a life necessity, came to light, when, owing to our telegraph wire having been cut near Phari, a fine was inflicted on the town of dried yak-dung fuel, as this was badly required by our troops. A fine of fifteen tonnes of cakes of this material was imposed, which at local barter rates represented in money about L15 sterling. So effectual was the fine, in this local coinage of the country, that they willingly paid half of it in Indian rupees, to escape parting with this invaluable article, and the line was never cut again.
- Waddell, 1906, quoted in Yaks, yak Dung, and prehistoric human habitation of the Tibetan Plateau

Follow me here:
1) Yak dung = 1 British Pound / Tonne as of 1906 (15 tonnes for L15 sterling)
2) Adjusting for annualized inflation of 4.4%, that British Pound from 1906 would now be equal to L111.58 (GBPs)
(http://www.bankofengland.co.uk/educatio ... fault.aspx)
3) This gives us the rate of L111.58 GBPs per 1 tonne of Yak dung in current terms, assuming no change in price.
4) One "tonne" is equal to 2,204.6 lbs
5) Divide 2,204.6 lbs by 111.58 GBPs and you get a current rate of 19.75lbs of Yak dung for 1 GBP
6) Current price of spot silver in GBP is 12.361 GBPs (http://www.kitcosilver.com/)
7) 12.361 x 19.75lbs = 244.23lbs
8) Conclusion: the current spot price of one ounce of silver in Yak dung is roughly 244.23lbs.

My brain hurts now, but I think the math is solid.

That being said, your local coin dealer is probably unwilling to accept Yak dung as payment.

[Older/wiser?]

Just for kicks, I looked up the monetary value of Yak dung and found this:

A curious illustration of the monetary value of fuel in this arctic region, where the only available material, namely, yak-dung, is a life necessity, came to light, when, owing to our telegraph wire having been cut near Phari, a fine was inflicted on the town of dried yak-dung fuel, as this was badly required by our troops. A fine of fifteen tonnes of cakes of this material was imposed, which at local barter rates represented in money about L15 sterling. So effectual was the fine, in this local coinage of the country, that they willingly paid half of it in Indian rupees, to escape parting with this invaluable article, and the line was never cut again.
- Waddell, 1906, quoted in Yaks, yak Dung, and prehistoric human habitation of the Tibetan Plateau

Follow me here:
1) Yak dung = 1 British Pound / Tonne as of 1906 (15 tonnes for L15 sterling)
2) Adjusting for annualized inflation of 4.4%, that British Pound from 1906 would now be equal to L111.58 (GBPs)
(http://www.bankofengland.co.uk/educatio ... fault.aspx)
3) This gives us the rate of L111.58 GBPs per 1 tonne of Yak dung in current terms, assuming no change in price.
4) One "tonne" is equal to 2,204.6 lbs
5) Divide 2,204.6 lbs by 111.58 GBPs and you get a current rate of 19.75lbs of Yak dung for 1 GBP
6) Current price of spot silver in GBP is 12.361 GBPs (http://www.kitcosilver.com/)
7) 12.361 x 19.75lbs = 244.23lbs
8) Conclusion: the current spot price of one ounce of silver in Yak dung is roughly 244.23lbs.

My brain hurts now, but I think the math is solid.

That being said, your local coin dealer is probably unwilling to accept Yak dung as payment.

Could you please equate yak dung with horse dung ,6 large Belgium's 244.23lbs. Maybe a week, at least that I understand . If someone would like to trade for silver, we deliver! Wealth is just a poop scoop away!

[Silver]

Well, ain't that just great? Another stinky thread thanks to iWriteStuff.

[iWriteStuff]

Just for kicks, I looked up the monetary value of Yak dung and found this:

A curious illustration of the monetary value of fuel in this arctic region, where the only available material, namely, yak-dung, is a life necessity, came to light, when, owing to our telegraph wire having been cut near Phari, a fine was inflicted on the town of dried yak-dung fuel, as this was badly required by our troops. A fine of fifteen tonnes of cakes of this material was imposed, which at local barter rates represented in money about L15 sterling. So effectual was the fine, in this local coinage of the country, that they willingly paid half of it in Indian rupees, to escape parting with this invaluable article, and the line was never cut again.
- Waddell, 1906, quoted in Yaks, yak Dung, and prehistoric human habitation of the Tibetan Plateau

Follow me here:
1) Yak dung = 1 British Pound / Tonne as of 1906 (15 tonnes for L15 sterling)
2) Adjusting for annualized inflation of 4.4%, that British Pound from 1906 would now be equal to L111.58 (GBPs)
(http://www.bankofengland.co.uk/educatio ... fault.aspx)
3) This gives us the rate of L111.58 GBPs per 1 tonne of Yak dung in current terms, assuming no change in price.
4) One "tonne" is equal to 2,204.6 lbs
5) Divide 2,204.6 lbs by 111.58 GBPs and you get a current rate of 19.75lbs of Yak dung for 1 GBP
6) Current price of spot silver in GBP is 12.361 GBPs (http://www.kitcosilver.com/)
7) 12.361 x 19.75lbs = 244.23lbs
8) Conclusion: the current spot price of one ounce of silver in Yak dung is roughly 244.23lbs.

My brain hurts now, but I think the math is solid.

That being said, your local coin dealer is probably unwilling to accept Yak dung as payment.

Could you please equate yak dung with horse dung ,6 large Belgium's 244.23lbs. Maybe a week, at least that I understand . If someone would like to trade for silver, we deliver! Wealth is just a poop scoop away!

Value of horse manure depends on the market, I would imagine:

https://www.homesteadingtoday.com/threa ... re.385174/

Some useful comments:

Free if you are picking it up. If it's a full sized pickup, I'd be willing to pay $10.00 to have it loaded for me. If they are delivering it, then probably $25.00 if within 10 miles.

I pay a local guy to deliver a 6-7 yard dump truck of mostly composted (1-2 years) horse manure 60 bucks a load. 10 bucks a yard of compost delivered is good to me. He will deliver for 70 bucks his homemade compost that he took care of carcasses in.

I sold some composted cow manure last spring for 25.00 a pickup load. I would venture to guess that horse manure would be worth as much. I also know that alot of people will give it away, for the hauling.

So basically it's whatever you can negotiate, then convert those earnings into silver

Poop into silver. That sounds like a pretty dang good trade there.

[iWriteStuff]

Well, ain't that just great? Another stinky thread thanks to iWriteStuff.

iStinkThereforeIAm

[Rose Garden]

Just for kicks, I looked up the monetary value of Yak dung and found this:

A curious illustration of the monetary value of fuel in this arctic region, where the only available material, namely, yak-dung, is a life necessity, came to light, when, owing to our telegraph wire having been cut near Phari, a fine was inflicted on the town of dried yak-dung fuel, as this was badly required by our troops. A fine of fifteen tonnes of cakes of this material was imposed, which at local barter rates represented in money about L15 sterling. So effectual was the fine, in this local coinage of the country, that they willingly paid half of it in Indian rupees, to escape parting with this invaluable article, and the line was never cut again.
- Waddell, 1906, quoted in Yaks, yak Dung, and prehistoric human habitation of the Tibetan Plateau

Follow me here:
1) Yak dung = 1 British Pound / Tonne as of 1906 (15 tonnes for L15 sterling)
2) Adjusting for annualized inflation of 4.4%, that British Pound from 1906 would now be equal to L111.58 (GBPs)
(http://www.bankofengland.co.uk/educatio ... fault.aspx)
3) This gives us the rate of L111.58 GBPs per 1 tonne of Yak dung in current terms, assuming no change in price.
4) One "tonne" is equal to 2,204.6 lbs
5) Divide 2,204.6 lbs by 111.58 GBPs and you get a current rate of 19.75lbs of Yak dung for 1 GBP
6) Current price of spot silver in GBP is 12.361 GBPs (http://www.kitcosilver.com/)
7) 12.361 x 19.75lbs = 244.23lbs
8) Conclusion: the current spot price of one ounce of silver in Yak dung is roughly 244.23lbs.

My brain hurts now, but I think the math is solid.

That being said, your local coin dealer is probably unwilling to accept Yak dung as payment.

Could you please equate yak dung with horse dung ,6 large Belgium's 244.23lbs. Maybe a week, at least that I understand . If someone would like to trade for silver, we deliver! Wealth is just a poop scoop away!

Value of horse manure depends on the market, I would imagine:

https://www.homesteadingtoday.com/threa ... re.385174/

Some useful comments:

Free if you are picking it up. If it's a full sized pickup, I'd be willing to pay $10.00 to have it loaded for me. If they are delivering it, then probably $25.00 if within 10 miles.

I pay a local guy to deliver a 6-7 yard dump truck of mostly composted (1-2 years) horse manure 60 bucks a load. 10 bucks a yard of compost delivered is good to me. He will deliver for 70 bucks his homemade compost that he took care of carcasses in.

I sold some composted cow manure last spring for 25.00 a pickup load. I would venture to guess that horse manure would be worth as much. I also know that alot of people will give it away, for the hauling.

So basically it's whatever you can negotiate, then convert those earnings into silver

Poop into silver. That sounds like a pretty dang good trade there.

I thought it was supposed to be straw into gold . . . Oh, well. I'll take the poop into silver. There's plenty of it now the herd has eaten all the straw.

[mirkwood]

I got a bunch of cat crap in the litter box. How much for the whole lot?

[Rose Garden]

Turn it into silver first.... then we'll talk.

[Silver]

There's a seriously Freudian discussion breaking out here. I wish y'all would leave the shiny out of it. LOL

[BeNotDeceived]

There's a seriously Freudian discussion breaking out here. I wish y'all would leave the shiny out of it. LOL

What's about $30 a pound or $5-7 by the ounce?

I paid $32 for a pound and $50 for 10 ounces, and me thinks next I'll buy 12 more lbs.

Hint = some body part of somebody you know prolly has been replaced using this amazing material.

[Silver]

There's a seriously Freudian discussion breaking out here. I wish y'all would leave the shiny out of it. LOL

What's about $30 a pound or $5-7 by the ounce?

I paid $32 for a pound and $50 for 10 ounces, and me thinks next I'll buy 12 more lbs.

Hint = some body part of somebody you know prolly has been replaced using this amazing material.

My guess is titanium. What do I win?