St. Phatty
Active member
i don't know. he committed suicide about 10 years ago.
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How about that silver?
- Thread starter gladysvjubb
- Start date
i don't know. he committed suicide about 10 years ago.
APMEX still has no phyzz. and buying a green monster box, you pay over $44 a coin ($15 premium). No 100 oz bars, but pay about $36 an oz for the ones they have.
The paper price is way different than phyzz. That is why I ain't skaird. What does have me worried is how fast the dollar is becoming worthless.
And the SLV is a POS, when it comes to catching these rips.
The paper price is way different than phyzz. That is why I ain't skaird. What does have me worried is how fast the dollar is becoming worthless.
And the SLV is a POS, when it comes to catching these rips.
Hey my good man,
Where do you think all the stock market money is heading?
The founder of Amazon just SOLD 3 Billion of his stock to put in to cryptocurrencies.
They are all piling in. Big money.
You can start with $40.
I hope you have a wonderful profitable day.
brickweeder
Well-known member
SLV catches the rips pretty dang good. The SLV I bought at 12 (silver spot was ~13 and rounds were 17+), is worth ~27 right now, for a $15 gain. If I would have bought rounds for 17 at the time (not available), I could only sell them now for spot, which is about 29, for a $12 profit. SLV, in some circumstances, can rip better than the actual metal, you just have have to be OK with temporarily holding a proxy.
St. Phatty
Active member
ended up getting $29.75 per ounce in today's sale. had to sell 34 ounces to break the $1000 minimum.
had a price target of $30.30 per ounce, to make the minimum with 33 ounces. but when today's market close came, the 45 minutes when the price is fixed, it was obvious that $29 and change is as good as it's going to get today.
i was looking for the price to get back to where it was a few days ago, when it seemed like it was a little higher.
had a price target of $30.30 per ounce, to make the minimum with 33 ounces. but when today's market close came, the 45 minutes when the price is fixed, it was obvious that $29 and change is as good as it's going to get today.
i was looking for the price to get back to where it was a few days ago, when it seemed like it was a little higher.
March was the best I have seen SLV perform. It was stuck at 22ish when the pup was pushing 20.
I called the local cash dealer here. He says he pays under spot for 100 oz bars. I just said I would trade for gold coins if anybody wants some. We'll see.
brickweeder
Well-known member
Hope the ratio falls even more.
BearCreekFarms
Active member
I agree ive been thru 1.5 cycles, trading physical, it has treated me well.
Patience is a virtue it seems.
The pile is getting a might big, time to make it smaller.
St. Phatty
Active member
If you look at the websites of all the major PM etailers, it tells you all you need to know - they're completely sold out at prices $5 to $10 above spot.
There is a REAL price, where they go back to their old practice of selling 1 ounce rounds for 50 cents above spot - when Silver was in the $14 to $18 range.
They would have specials all the time, pretty much no limit on orders.
So I'm suggesting that the "Real Price" is the price at which they have almost everything in stock, as is normal. with premiums at about $1 an ounce for Silver. about 5%.
Now that Silver has drawn people's interest by the price moving, I'm not sure that $100 an ounce would produce enough supply, for etailers to have almost everything in stock, with normal premiums.
a 5% at those levels means a $5 an ounce spread.
Anyway the market can only absorb so much reality at once.
Unless there is some strong news on the US economic front to temporarily boost the USD index, Silver will continue to have days, each week, when it does the $2 price moves.
So I like to have purchases set up, and participate in the market at each of the major price points.
from $29 up 2 takes us to $31.
That is what I think will happen this week.
There is a REAL price, where they go back to their old practice of selling 1 ounce rounds for 50 cents above spot - when Silver was in the $14 to $18 range.
They would have specials all the time, pretty much no limit on orders.
So I'm suggesting that the "Real Price" is the price at which they have almost everything in stock, as is normal. with premiums at about $1 an ounce for Silver. about 5%.
Now that Silver has drawn people's interest by the price moving, I'm not sure that $100 an ounce would produce enough supply, for etailers to have almost everything in stock, with normal premiums.
a 5% at those levels means a $5 an ounce spread.
Anyway the market can only absorb so much reality at once.
Unless there is some strong news on the US economic front to temporarily boost the USD index, Silver will continue to have days, each week, when it does the $2 price moves.
So I like to have purchases set up, and participate in the market at each of the major price points.
from $29 up 2 takes us to $31.
That is what I think will happen this week.
I think I will see how much APMEX will give me for a 100 bar. Min buy is one problem, $10K is another. I only bought boxes when they were under $10K for that reason. I got too happy once and bot boxes too close together, and they called a month later and said they were gonna have to "structure" me, and tell the F'in treasury.
The 4 part series ZH is carrying now has a pretty good lesson about pigs getting slaughtered. The Hunts had their chance to get out with a very nice profit, instead they bankrupted their whole family.
https://www.zerohedge.com/news/2020-08-10/destruction-billionaire-4-4
The 4 part series ZH is carrying now has a pretty good lesson about pigs getting slaughtered. The Hunts had their chance to get out with a very nice profit, instead they bankrupted their whole family.
https://www.zerohedge.com/news/2020-08-10/destruction-billionaire-4-4
The Hunt Brothers did not bankrupt the entire family.
The U.S. Government found out how much the Hunt Brothers had accumulated. They changed the laws and busted the Hunt Brothers.
The U.S. Government found out how much the Hunt Brothers had accumulated. They changed the laws and busted the Hunt Brothers.
Silver 28.20 6:20AM EDT -1.06 -3.63%
Silver 24.86 4:59PM EDT -4.40 -15.04%
St. Phatty
Active member
interesting how their new Huge margins/ price spreads, protect the PM dealers.
i sold during the quiet period when it was $29 and change. When I looked today to try & buy the same thing, it was $28. Their $4 margin protects them from $4 price swings.
They were very happy with normal margins of $.79 an ounce and sales of $.49 an ounce during the years after the 2013 price drop. Including recently like 2018.
In other words they somehow made money with those low margins. So if a price swing shaves profits, they still cover their payroll.
I don't be-grudge them the $4 margin. They're acting as Market-maker. if they go out of business, that sucks, as long as they're a good dealer.
And they're still sold out of almost everything.
So the refiners are buying as many 1000 ounce bars as they can get.
/\ Do you think this is accurate/ true ?
the industry-wide sold out condition means that the people who make the bars, are there in the big markets, Chicago Mercantile Exchange, trying to buy silver in volume.
The typical contract is 5x 1000 ounce bars, so, lots of those.
There's been a few mine slowdowns related to Covid19.
Has anybody heard about Refiner shut-downs or slow-downs ?
Anyway it really does look like a genuine supply shortfall.
That means prices are going up if this was a normal market.
how much was that big price blip related to the blast in Beirut ? - which was on the 4th of August.
I'm asking questions because you guys are the Brain Trust ! ! !
also what caused the July 21 price rise ? around july 20 it's at $19 and then BAM, up to $24.
i sold during the quiet period when it was $29 and change. When I looked today to try & buy the same thing, it was $28. Their $4 margin protects them from $4 price swings.
They were very happy with normal margins of $.79 an ounce and sales of $.49 an ounce during the years after the 2013 price drop. Including recently like 2018.
In other words they somehow made money with those low margins. So if a price swing shaves profits, they still cover their payroll.
I don't be-grudge them the $4 margin. They're acting as Market-maker. if they go out of business, that sucks, as long as they're a good dealer.
And they're still sold out of almost everything.
So the refiners are buying as many 1000 ounce bars as they can get.
/\ Do you think this is accurate/ true ?
the industry-wide sold out condition means that the people who make the bars, are there in the big markets, Chicago Mercantile Exchange, trying to buy silver in volume.
The typical contract is 5x 1000 ounce bars, so, lots of those.
There's been a few mine slowdowns related to Covid19.
Has anybody heard about Refiner shut-downs or slow-downs ?
Anyway it really does look like a genuine supply shortfall.
That means prices are going up if this was a normal market.
how much was that big price blip related to the blast in Beirut ? - which was on the 4th of August.
I'm asking questions because you guys are the Brain Trust ! ! !
also what caused the July 21 price rise ? around july 20 it's at $19 and then BAM, up to $24.
When they started loosing their asses they tried to get the government to prop it up.
quite the adjustment there
interesting, I see CNBC is attributing this to a risk off moment
good virus news, good economic report, and a VP pick that Wallstreet likes
still, it's kind of ass backwards, silver goes up with good economic forecasts
maybe a price recovery in the near term
A metals dealer at another board says there has been heavy phyzz selling the last 5 days. We'll see.
APMEX may be expensive nowadays. They do have more supply. 100oz bars are around 3K, a $6 premium for a bar. Bitcoin may be why APMEX is expensive now.
No big deal in my mind, because the machines still go brrrrr. Globally. They are fighting a huge deflationary force of locking down the economies of the world.
https://www.apmex.com/product/57949/100-oz-silver-bar-royal-canadian-mint-9999-fine
APMEX may be expensive nowadays. They do have more supply. 100oz bars are around 3K, a $6 premium for a bar. Bitcoin may be why APMEX is expensive now.
No big deal in my mind, because the machines still go brrrrr. Globally. They are fighting a huge deflationary force of locking down the economies of the world.
https://www.apmex.com/product/57949/100-oz-silver-bar-royal-canadian-mint-9999-fine
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I am simply amazed.
Why are you talking about buying at this level?
Why are you selling? Do you not realize what is going on???
Why are you talking about buying at this level?
Why are you selling? Do you not realize what is going on???
What do you think/ realize what is happening?
Selling? If you mean me, I have not traded metal for FRNs in over a dozen years, when I regretfully sold some gold at $1000 to pay for my house. And then watched it go straight to $1900... I replaced that with silver later on.
