funny how premiums change so much

[alaskanfever]

so a week ago the premium here was $2.5 over spot now it is $6.5 over spot. just thought i would share my local refiners prices today.

[jim4silver]

That always happens here when prices fall fast. That's why if this correction keeps going so fast nobody is going to be able to score silver at the actual spot price if they buy from a coin dealer.

If the prices fall and stay low for a while it does stabilize and premiums come down although they would still be higher than what people were paying when silver was 40 an ounce.

A good way to play short term spikes/corrections and get in at the actual price is to play some of the ETFs. I have done that going both short and long on silver via put/call options. I only do this for short term flipping and not as a substitute for holding actual metals.

Jim