Its too quiet, I feel another smackdown coming

[jim4silver]

It's too quiet, I feel another smackdown coming

I would not be surprised to see silver and gold get knocked down further going into the weekend. It would make it near impossible to get any physical locally if that happens. If the prices stay low and especially if it goes much lower, I believe they might have trouble filling all those orders they are taking now, at least in the time periods they are promising.

Got a few generics and holiday bars/rounds for 60 cents over spot today. Local store I went to today was taking lots of orders for stuff they did not have. I was a bit surprised that there were so many new buyers coming in and placing orders. You can tell by the questions they asked and such that they weren't PM bugs yet but that somebody told them they should invest in silver and gold now.

Jim

 

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[TreasurePirate69]

Wow! 60c over spot is an excellent price. I'm going to the monthly coin show this weekend. I'm guessing no one will have any junk silver for sale at reasonable prices. But you never know. Especially if the price gets smacked down again tomorrow.

 

[jim4silver]

Wow! 60c over spot is an excellent price. I'm going to the monthly coin show this weekend. I'm guessing no one will have any junk silver for sale at reasonable prices. But you never know. Especially if the price gets smacked down again tomorrow.

It used to be anywhere from spot to at most 50 cents over in the good ole' days. The good thing is they keep a bin of them in the back and the average retail customer that comes in doesn't even know about them. Even most of the die hard PM bugs don't like them much either. As long as I know they are real .999 I don't mind them. And when I had to sell some silver in the past I sold my holiday type bars and got 50-75 cents under spot. I don't know what they would be in the future, but the spread on them is probably the best I can do out of any type of silver when buying/selling only with coin dealers.

Jim

 

[jim4silver]

Looks like today might be it. It's still early, but we're back into the 22 range pretty solidly.

Jim

 

[TreasurePirate69]

Could be. At this point, nothing would surprise me. $16 here we come!

 

[Marchas45]

AAAAAAAAAAAAAAAAAAAAAHHHH Don't say that as I have no Fiat yet to buy. Lol Next week yes.

 

[jim4silver]

If PMs get smacked down I am hoping to get some gold this time. Local stores have decent gold supply but not silver, although some generic rounds are being sold with relatively high premiums. I believe that if silver gets below 22 we will see more people rushing out to buy on the dip but I don't see where that supply will come from for a long time based on all the recent orders since the big drop off in prices.

I went to one of my local stores today and the worker said they ordered ASEs from their wholesaler over 5 weeks ago and still have not received them. It's kind of weird seeing the silver display cases virtually empty except for some Chinese one ouncers and things like that with already super high premiums. They had a few AGEs, Maples and Krugs but with higher than normal premiums. I grabbed a 2013 one ounce AGE for under 1500. High premium but an awesome looking coin. I don't remember the AGE bullion looking so great. I fully expect the price of gold to drop now that I bought.

Jim

 

[TreasurePirate69]

If PMs get smacked down I am hoping to get some gold this time. Local stores have decent gold supply but not silver, although some generic rounds are being sold with relatively high premiums. I believe that if silver gets below 22 we will see more people rushing out to buy on the dip but I don't see where that supply will come from for a long time based on all the recent orders since the big drop off in prices.

I went to one of my local stores today and the worker said they ordered ASEs from their wholesaler over 5 weeks ago and still have not received them. It's kind of weird seeing the silver display cases virtually empty except for some Chinese one ouncers and things like that with already super high premiums. They had a few AGEs, Maples and Krugs but with higher than normal premiums. I grabbed a 2013 one ounce AGE for under 1500. High premium but an awesome looking coin. I don't remember the AGE bullion looking so great. I fully expect the price of gold to drop now that I bought.

Jim

If you are anywhere near central Ohio I'd be happy to sell you 10 ounces cheap.