Anyone here buying or selling silver recently?

[cyberdan]

I have several hundred grams of 925 spoons and jewelry I will be selling at spot. I bought it at a little under spot and silver has gone up a bit so I am OK with spot. I am not a charter member any more, never even a bit on things I had to sell.

Last month I sent some to my refinery but I didn't like the 10% hit I took. Any ideas on where else to sell? I do belong to a couple other metal sites and will probably list there.

 

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[Johnnybravo300]

For spot should sell easily, dont take that hit screw that.
I doubt you'll have any problems selling.
List local in your local paper too, you'll sure have some callers I'd bet.

 

[Johnnybravo300]

I traded is some gold for some silver Maples last week. The gold was not hallmarked and the dealer wanted a $4 premium per coin. Unfortunately the dude acid tested my gold at 20k. Bullcrap, I know the refiner and it was . 995 at least. I think t the dude had sme bad acid.

I still think ill come out ahead long term. The Federal Reseve is stealing your FRN savings again with all the stimulus acts. Dollar wise I think I will come out ahead. Value relative to goods will probably be static- unless we get into a big war. Gold is used in industrial applications, but a heck of a lot more silver is used in manufacturing.

Yep everything will keep climbing during the thieving so might as well get yours while it lasts and keep close to the exit.
It's when the pumping and printing stops that you will have to worry....until then the bubbles will keep on keeping on. They are out of options.

Make money in the markets with some gambling portion but squirrel the winnings away into the stack.
Rinse and repeat!

I got some bad acid once and lost a whole day. Had a crazy dream I was eating the world's biggest marshmallow, woke up and my pillow was missing.

 

[Johnnybravo300]

I picked up 15 Morgans and 5 Peace dollars yesterday at my lcs for $25 each.
The days of 13 and 15 dollar silver dollars are gone forever and it seems like just last week haha.
The 1887 Morgan looks like it had scotch tape across it maybe taped in an album and stored in an attic for 75 years. Great great great grandpa's collection maybe.


I hope everyone took advantage of the beatdown and picked up a few ounces.

 

[jim4silver]

I have a feeling silver might be dropping some more over the next two days. I hope it does because I want to buy some cheaper. I haven't been dollar cost averaging lately because of the higher silver price, higher premiums and general lack of cool stuff from my coin dealers. If we drop a dollar or more from here I might just buy some junk silver Kennedy halves which I can get relatively cheap compared to .999 silver.

Once Biden gets sworn in and the DC chaos calms down a bit I think they will start more stimulus/spending that will keep PMs moving like they have been. If they push for more solar power nationally that would have to be good for silver too.

 

[Mackaydon]

A new gold and silver store opened near me recently. I went in today to price (not buy) a one oz. American Gold Eagle. At the time, spot was $1,855. The price quoted was $1,984.92; a 7% premium. Seems rather excessive. What premiums are you'll experiencing?
Don........

 

[fistfulladirt]

A new gold and silver store opened near me recently. I went in today to price (not buy) a one oz. American Gold Eagle. At the time, spot was $1,855. The price quoted was $1,984.92; a 7% premium. Seems rather excessive. What premiums are you'll experiencing?
Don........

Even my LCS can’t beat Provident Metals on their 2020 AGE (all that’s avail) with a $130 premium, 7%.

I think we’ll look back 5 years from now and say “what a bargain!”

 

[Johnnybravo300]

2 trillion more already in the works. It's all they can do is keep printing and trying to fill the widening cracks.

 

[RTR]

Think I dug some

 

[Norwichnut]

2 trillion more already in the works. It's all they can do is keep printing and trying to fill the widening cracks.

Keep them money printers moving....
Pretty soon we will be paying $12.00 for a gallon of milk and everyone wont understand why

 

[Jason in Enid]

I heard something interesting today. I heard that silver (paper) has been highly "shorted" by the investment big boys (we've talked about this in the past) but now the group that put the short squeeze on AMC and other stocks (driving prices up thousands of %) are eyeing silver. If the same thing happened as silver price shot up into hundreds, what would you do? what COULD you do? Do you thnk you could find any buyers for real silver at super inflated plrices? I know when the price crash last year, the sellers immediately halted all sales. They were sold out, they refused to sell at the new price. So do you think they will buy at new highs?

 

[mts]

I heard something interesting today. I heard that silver (paper) has been highly "shorted" by the investment big boys (we've talked about this in the past) but now the group that put the short squeeze on AMC and other stocks (driving prices up thousands of %) are eyeing silver. If the same thing happened as silver price shot up into hundreds, what would you do? what COULD you do? Do you thnk you could find any buyers for real silver at super inflated plrices? I know when the price crash last year, the sellers immediately halted all sales. They were sold out, they refused to sell at the new price. So do you think they will buy at new highs?

That is a very good question. I read the same story today and I would certainly try to sell all of my silver if it went over $50. But I have no idea if anyone would be buying at that price. I guess we will just have to wait and see. I don't personally think that the Reddit boys will be able to drive up the price of silver. Silver isn't being shorted by the ETFs. They have no need to buy to cover a short position so you can't squeeze them like you can squeeze the short sellers.

The funny thing is that one of the Reddit boys was quoted as saying "the inflation adjusted price of silver should be $1000!". I really had to laugh.... FYI... the AVERAGE inflation adjusted price of silver for every year since 1969 is $17.68. The highest inflation adjusted yearly price for silver in that period is $65.90 which obviously happened in 1980. I really don't know where these guys get this nonsense. Only 8 of the 52 years since 1969 have inflation adjusted prices above where we are today. And 17 of the 52 years since 1969 have inflation adjusted prices below $10.

 

[mts]

Physical silver is for long term holding, ETFs are for flipping.

I bought a couple thousand shares of SLV when it hit $12 early last year. Flipped it for almost double what I paid for it. I wish that would happen again but I doubt I will ever see SLV less than $15 again in my lifetime.

 

[jim4silver]

The premiums on silver are through the roof right now. My local dealers who I usually get great deals from are out of anything really cool and are selling generic silver and such for at least $2.50 over melt, with many items even more expensive.

Just to get an idea nationally what premiums are, check out this link. It is the "dealer sheet" for a coin company that some of my smaller dealer friends wholesale to from time to time (I've never bought or sold to/from them so I'm not recommending them just showing prices for illustration purposes only). The prices listed on this sheet are what they buy and sell to/from dealers, not the general public. Their sell prices to the dealers are more than I would want to pay even as a retail customer.

https://trading.upstatecoins.com/wp-content/uploads/dealer.pdf

 

[Johnnybravo300]

The silver short is already days underway so hold onto your britches.
They have the millions they needed to make it happen now.
Better get yours while you can!

 

[Johnnybravo300]

The silver short is already days underway so hold onto your britches.
They have the millions they needed to make it happen now.
Better get yours while you can!

 

[bill from lachine]

Folks,

For what it's worth the Chinese have decided to enter the game after the reddit crowd started the short squeeze last week. Could be a fun week for those in the game.

https://www.reuters.com/article/us-retail-trading-silver-china-idUSKBN2A122Y

 

[bill from lachine]

Placed an order for 8 silver rounds about a week ago. 2 each of 4 different countries when I checked on status they were waiting for replenishment of stock on some of the rounds.

I had to change over to 8 of the same country to get the order processed for tomorrow.

Here's the disclaimer on their site:-

[h=2]"Due to Surging Demand and Limited Supply in Bullion, there is a Supply Chain Disruption. Limited Inventory Available and 1 Week Delay on Fulfillment"[/h]
These guys are major players so kind of tells you about the current demand levels.

 

[Jason in Enid]

That just means they are going to be jacking the premiums through the roof.

 

[bill from lachine]

It's all about supply and demand. Kind of like buying field lettuce during the season for 99 cents a head versus $3 to $5 dollars during the winter.