Silver taking off

[silveraddict]

Is this what we all have been waiting for?
Skyrocketing silver price.
Looks like silver is finally going to have it's time to shine.
$30.00, 50.00, 75.00 maybe $100.00
At what price do you sell and what do you sell?
I think I will start selling my 40% when it reaches $40.00
I have a few thousand of them.

The other option is to play the silver/gold ratio.
This might be an INCREDIBLE time for this.
I don't think that gold is going to take as big of a ride as silver.
We might see the ratio down into the teens.
I have played this game a few times.
I have about 500 oz of silver from the last time I traded gold for silver.
This could be a trade that gives me A LOT of gold to stash away.
I gotta think about this.

[Kantuckkeean]

I agree. I think that they're targeting silver and silver miners much more so than gold, but gold will likely be carried along if they're able to drive the price of silver up. I think that a lot of folks on here will be watching closely. If you do sell, please let us know some details (without divulging personal information of course). Just some details that might be helpful to other folks on here who are thinking about selling, like, was it to a major buyer seller like Provident, JM Bullion, APMEX, your local coin store, online garage sale site or Facebook, and % of spot price that you got. That might be useful to some folks here.

I'll do the same if I sell. I mentioned in a thread in the Precious Metals forum about my selling experiences... twice to APMEX. Both times I got 94% of spot price. I haven't decided upon a sell price yet. I figure I'll just watch and see what happens. I'm not in a position to buy more at present, so my current position is hold.

Kindest regards,
Kantuck

[Armstrong]

I regret only buying 2 rolls of silver in March when it crashed to 10 or 11 bucks per once. I think the 1400 dollar stimulus possibility will have the biggest effect on the price. Whether its passed or not. Around 50 an ounce I would consider selling.

[FreedomUIC]

I regret only buying 2 rolls of silver in March when it crashed to 10 or 11 bucks per once. I think the 1400 dollar stimulus possibility will have the biggest effect on the price. Whether its passed or not. Around 50 an ounce I would consider selling.

The stimulus has nothing to do with it. The GameStop instigators are now going after silver because there is more paper than physical and a ton of shorts right now.

[TheWalrus]

This whole thing is fascinating, it reads like the old movie Trading Places, they know who went short, and how far short they are, and are now playing the odds that they can beat them at their own game. Too bad my totals for last year were under 4 oz, due to criminal lack of dump banks in this area.

[ArkieBassMan]

if the short squeeze on silver happens, the problem may be being able to sell your physical silver for anywhere near spot...at least to the big metal exchanges. APMEX had already pulled all their silver products off the market this weekend just on the rumor that the squeeze might be coming. If silver makes the quick jump to $40+, I don't expect APMEX and similar companies to offer anywhere near the typical ~94% to buy your metal as short squeezes are historically a very temporary run-up and they won't get left holding the bag if/when silver crashes back down. Now if the squeeze on paper silver actually happens and causes a huge surge in demand for physical silver, then it will absolutely be time to sell at least some of the stash, IMO.

[Kantuckkeean]

Yeah... jrf30 alluded to that problem with APMEX a while back. He was considering selling some ASEs and they were offering below spot but had ridiculous premiums and the spread was too big. He could have made much more selling locally.

Kindest regards,
Kantuck

[Clad2Silver]

I dumped my gold and silver this past year when silver was at $28.50 and gold was hovering around $1950-$2000. I dumped $800 FACE value in 90% silver plus a number of .999 silver bars and ingots. I also dumped Morgan and Peace dollars plus some Canadian 80% silver coins. There's no way to tell what the market will do. When the number is right for you, that's when it's time to unload.

[mts]

I dumped my gold and silver this past year when silver was at $28.50 and gold was hovering around $1950-$2000. I dumped $800 FACE value in 90% silver plus a number of .999 silver bars and ingots. I also dumped Morgan and Peace dollars plus some Canadian 80% silver coins. There's no way to tell what the market will do. When the number is right for you, that's when it's time to unload.

How did you dump it? One of the big boys (APMEX, JM, etc.)? Locally on Craigslist? LCS? Or some other buyer?

[fistfulladirt]

Seeing $100/oz. sell offers locally on Craigslist this morning. Well, it’s Craigslist.

[Kantuckkeean]

Seeing $100/oz. sell offers locally on Craigslist this morning. Well, it’s Craigslist.

You should reach out to them and offer to sell all of your stash to them at $85 or 80/oz. Then they could sell it at $100/oz. and you’d both be happy.

Kindest regards,
Kantuck

[Clad2Silver]

How did you dump it? One of the big boys (APMEX, JM, etc.)? Locally on Craigslist? LCS? Or some other buyer?

I sold my bullion items to a local coin dealer who specializes in precious metals. He always pays top dollar and I don't have to ship it anywhere and wait for the payment. Transaction is quick and easy and it's done at my home.
I'd NEVER sell to APMEX, JM, or any of the other big named companies.

[Ohiogoldfever]

And here I’m hording all the PMs I can manage to scrounge figuring they can only print so long before the paper money is trash.

Sure looks like the dollars hurting.

[ArkieBassMan]

And here I’m hording all the PMs I can manage to scrounge figuring they can only print so long before the paper money is trash.

Sure looks like the dollars hurting.

I don't disagree with any of that. With that said, if a group of retail investors want to band together and very artificially (and very temporarily) run up the price of silver, I will happily take advantage. I won't totally get away from PMs, or likely even silver, forever. I will either buy the silver back at a cheaper price when the squeeze is over or put the proceeds into gold if it doesn't get dragged along for the ride. Likely some combination of both.

I should add that I was skeptical that the big squeeze would happen this weekend and I'm even more skeptical now. But, ready to act if I get the opportunity.

[AARC]

And here I’m hording all the PMs I can manage to scrounge figuring they can only print so long before the paper money is trash.

Sure looks like the dollars hurting.

The American dollar will never hurt... don't believe the hype... conspiracy bull crap.

Wanna know why ? ? ?

The American dollar is the most prized form of currency... WORLDWIDE.

Accepted worldwide in every country above all other currencies and considered equal or better than their own.

So...

Its just BS... believe that.