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Silver is Going Crazy!!

Sand Swinger

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Silver crossed $60/oz today and it’s now just a few cents away from hitting $61/oz. It's gonna be a wild ride!

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Well technically anyway.

The "ask" would be slightly over 95... but not the bid... which is currently $94.67
When figuring what silver TRUE price is one must factor WHAT is a buyer willing to pay and WHERE do they get that price / number...
MOST if not all dealers / buyers use the three sites I mentioned earlier ONLY to factor this.

So... with that said... when one wants to know what silver is really at ... one must use these sites.
Kitco seems to be the most widely used.

The high so far almost hit 96... @95.99
 
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Well technically anyway.

The "ask" would be slightly over 95... but not the bid... which is currently $94.67
Not gonna worry about getting that far down into the weeds. The higher the price goes, the less important the pennies.
 
Some weird crap is going on with Comex ... the backwardation is still prevalent... but numbers dont jive out.

For example... the "change" number.... to tell you the truth its been weird on and off for some time now.
 
Yeah... what about it ? :)

Dont worry... it will be there soon. :P

But of course they will say its 97.... you know... so they can milk an extra $1 out of every ounce they sell.
😁You're prolly right but just using that as a gauge and having some fun as it hits the next higher dollar value on APMEX, it may dip and dance up and down, but it has proven over the last year to always head back to that higher number. It's strange, but I always get the feeling that it doesn't know it can hit the next dollar amount, then tip toes around that number, but once it hits the higher number, it now knows it can and will work its way back over that number. Kinda like the first time I took my daughter on a roller coaster. We stood there for over an hour trying to convince her to get on. She wasn't sure, and I had to bribe her with $5 to get on, then finally she went on, and as soon as the ride stopped, she told me she wanted to go on again, and again, and again. We went on that roller coaster 9 times in a row, lol.

I'm not worried about getting down to exact penny minutia since we're not financial advisors or selling PM's on this forum, lol, just looking for general numbers that signify where the market is heading and having a bit of fun. The reverse of this is when I buy something for $74.99 and my wife asks me how much it costs, I'd always say $74. Most people do that, psychological thing but now that we're doing away with the penny, and nickel is probably next, I'm less worried about the pennies. When APMEX does show $97, they may be several hours or a day early compared to the other sites, and from what I've seen over the last year, APMEX might be $0.50 or $0.75 cents more than some other sites, but it's not like they're showing spot several dollars more than others, it's usually less than a buck and counted in cents.

But so far, in the last year, the metal has always reached that mark, so I know that price is coming. The main goal of this thread wasn't to provide detailed scientific analysis of the metals market, it was simply to encourage members who have a stash of Silver & Gold finds to hold those finds, as we've known for the last few years that the price was gonna skyrocket, and if they have just a bit of patience, it will pay off. Plus, it is a bit of "vindication" as you know we've had our share of naysayers over the last couple of years, so it is nice to be able to show that the price is skyrocketing, just like you and I have been saying all along.
 
It seems like the bullion sellers Apmex, SDBullion, Monumental, Hero... and the rest always list the ASK price. We're asking for this plus our premium. The ASK price is always higher than SELL and the Spot price is the average of the two. I'm seeing silver American Eagles going for $100 to $110 each with Spot at $93 today.
 
It seems like the bullion sellers Apmex, SDBullion, Monumental, Hero... and the rest always list the ASK price. We're asking for this plus our premium. The ASK price is always higher than SELL and the Spot price is the average of the two. I'm seeing silver American Eagles going for $100 to $110 each with Spot at $93 today.
Correct.. and premiums will go up from here.
 
It seems like the bullion sellers Apmex, SDBullion, Monumental, Hero... and the rest always list the ASK price. We're asking for this plus our premium. The ASK price is always higher than SELL and the Spot price is the average of the two. I'm seeing silver American Eagles going for $100 to $110 each with Spot at $93 today.
The "spot" prices are based on the paper/futures trader market. They deal in fantasy, "selling" Silver to investors that they don't have, so it doesn't actually exist. The REAL "spot" IMO should be what people are actually paying for physical Silver, what it actually costs to acquire. They can list any price, they could say spot price today is $50, but if you can't really get an ounce for that price and have to pay $100 to get an ounce, what good is the spot price really? We're dealing with 2 different markets, paper/futures trading and physical/buying. We're buying physical Silver but the "spot" price is what the paper/futures traders use to "sell" invisible Silver that doesn't actually exist to investors. Since they're only dealing with paper, they can make the price whatever they want, and they frequently manipulate that price to try to keep the price low. But it's the price that it's costs a buyer to acquire physical Silver that's the real price, supply & demand, just like anything else.

It kinda reminds me of buying a car. A dealer advertises a nice price for a car you're interested in (the paper/trader price). But do you really get the car at that price? Nope, because in addition to that nice price they advertised, you also have to add $2K charge for delivery, $500 Administration fee, more $ for transfer paperwork, taxes, extended warranty, paint protection and on and on (the physical price). So, the price you pay to actually take delivery is often much higher than the price the dealer initially quoted. I only look at the advertised price as a guideline. When I go in and talk with a salesperson, I don't care about the paper/trader sales price, I want to know the physical delivery "out the door" price., i.e., what's it really gonna cost me after they nickel and dime me to death with all the extra fees and add on's.
 
It always seemed criminal to me that people can sell precious metals with paper. If everyone who owned paper silver went to cash it in for the real thing physical silver would be non-existent in a matter of hours and thousands would be left holding worthless paper. It would be like selling the same plot of land to dozens of different buyers. How is it remotely legal?
 
It always seemed criminal to me that people can sell precious metals with paper. If everyone who owned paper silver went to cash it in for the real thing physical silver would be non-existent in a matter of hours and thousands would be left holding worthless paper. It would be like selling the same plot of land to dozens of different buyers. How is it remotely legal?
Welcome to the manipulation of the silver trading.
 
Is silver going up, or is the dollar going down?
Silver is going up, nothing to do with the dollar going down as there's many other reasons for Silver surge. Check out ARC's post above yours and click on the first/top link "Silver now ranks as the second most valuable asset in the world". That's a very good article that gives a variety of reasons for the surge in Silver, which have all seemed to converge at the same time to create this "Perfect Storm".
 
Silver is going up, nothing to do with the dollar going down as there's many other reasons for Silver surge. Check out ARC's post above yours and click on the first/top link "Silver now ranks as the second most valuable asset in the world". That's a very good article that gives a variety of reasons for the surge in Silver, which have all seemed to converge at the same time to create this "Perfect Storm".
 
A couple more highs for today. Gold crossed over $4,800oz, and Platinum crossed over $2,500oz.

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Here's some photo examples of the silver insanity I took tonight. The silver jewelry in my local thrift store has become ridiculous. I can by silver jewelry at the coin shop for spot + 10% all day long. That could be a simple way to invest small amounts of extra cash in silver ?? The coin shop has a whole bunch of silver jewelry. I always look for possible makers that could be worth way more than spot + 10.
 

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Here's some photo examples of the silver insanity I took tonight. The silver jewelry in my local thrift store has become ridiculous. I can by silver jewelry at the coin shop for spot + 10% all day long. That could be a simple way to invest small amounts of extra cash in silver ?? The coin shop has a whole bunch of silver jewelry. I always look for possible makers that could be worth way more than spot + 10.
Tam... please explain your statement of silver in thrift stores has become ridiculous in more detail...
Inquiring minds want to know :)
I assume you mean the prices have risen.
 
Tam... please explain your statement of silver in thrift stores has become ridiculous in more detail...
Inquiring minds want to know :)
I assume you mean the prices have risen.
Jewelry like these in the photos a month ago might be priced at a10th the price they're putting on them today. Im sure the employees had been told to look out for anything silver marked .925 and Sterling and mark them HIGH. That bracelet marked only .925 and priced at $124.99 couldn't be more than 10 grams sterling. If it is 10g it would only have a spot value of $28.00, but realistically its probably only 6 to 8 grams sterling.
 

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