Silver is Going Crazy!!

[Sand Swinger]

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!

 

[tamrock]

cudamark,
While attempting to sell Sterling was a dud, I was successful selling all my CSA bills and 100+ year-old US currency. But noone wanted my 1000 dinar Iraqi bills in their original 100 bill packs.

Yesterday, I drove my the Gold Bullion store in Carlsbad and saw a line outside. Do you think most were buyers or seller?
Don in SoCal

Well if its anything like what's going on at my local pm dealer, it'll be folks looking to sell. Last couple times I went, I had to get in line. Most were selling sterling objects and gold jewelry.

 

[pepperj]

Well if its any like what's going on at my local pm dealer, it'll be folks looking to sell. Last couple times I went, I had to get in line. Most were selling sterling objects and gold jewelry.

I can't imagine what a store would have to have for a cash float right now.

 

[pepperj]

Just saw $5216 for gold
$113 for the silver

 

[Sand Swinger]

Just saw $5216 for gold
$113 for the silver

I just looked, now over $114 and continuing to scratch and claw its way back up. I swear that physical Silver is the Rocky Balboa of precious metals. No matter how hard it gets hit, pulled back and knocked down, it just refuses to stay down, gets back up and continues climbing. It's like it's got its mind set on higher numbers. Market forces can cause it to dip, but it bounces back and seems determined not to let anything get in its way.

And yeah, Gold now back over $5,200.

 

[cudamark]

cudamark,
While attempting to sell Sterling was a dud, I was successful selling all my CSA bills and 100+ year-old US currency. But noone wanted my 1000 dinar Iraqi bills in their original 100 bill packs.

Yesterday, I drove my the Gold Bullion store in Carlsbad and saw a line outside. Do you think most were buyers or seller?
Don in SoCal

From what I heard at the coin show, the sellers couldn't keep silver in stock. Buyers were going crazy buying everything in sight. Don't know about gold.

 

[Sand Swinger]

From what I heard at the coin show, the sellers couldn't keep silver in stock. Buyers were going crazy buying everything in sight. Don't know about gold.

Don't know if this would be possible, i.e., if you'd have to be a legitimate dealer or business, but would it be possible for someone who has a lot of Silver to sell, to rent a space at one of these coin shows, set up a table or two, bypass the middleman and sell his Silver directly to hungry and rabid buyers?

Wife and I had a side craft biz few years ago, and for over 10+ years, we'd hit large craft shows and festivals. Wasn't Silver or PM related, more in the crafts sector, but we sold a lot of products at those craft fairs. Just wondering if it would be possible to do the same at a coin show for those who have a good quantity of Silver to sell.

 

[pepperj]

Gold @ $5394.50
Silver @ $116.78

 

[AU Seeker]

Don't know if this would be possible, i.e., if you'd have to be a legitimate dealer or business, but would it be possible for someone who has a lot of Silver to sell, to rent a space at one of these coin shows, set up a table or two, bypass the middleman and sell his Silver directly to hungry and rabid buyers?

Wife and I had a side craft biz few years ago, and for over 10+ years, we'd hit large craft shows and festivals. Wasn't Silver or PM related, more in the crafts sector, but we sold a lot of products at those craft fairs. Just wondering if it would be possible to do the same at a coin show for those who have a good quantity of Silver to sell.

I'm sure this is possible...BUT keep in mind that you will most likely need some kind of extra security beside the onsite venue security since you'll have a lot of silver/money to protect coming to and leaving from the show until you can safely secure the silver/$ offsite.

 

[Sand Swinger]

Holy Mother of Pearl.

 

[cudamark]

Don't know if this would be possible, i.e., if you'd have to be a legitimate dealer or business, but would it be possible for someone who has a lot of Silver to sell, to rent a space at one of these coin shows, set up a table or two, bypass the middleman and sell his Silver directly to hungry and rabid buyers?

Wife and I had a side craft biz few years ago, and for over 10+ years, we'd hit large craft shows and festivals. Wasn't Silver or PM related, more in the crafts sector, but we sold a lot of products at those craft fairs. Just wondering if it would be possible to do the same at a coin show for those who have a good quantity of Silver to sell.

Joining a coin club that has shows would probably be the best way. Keep in mind that the popular silver being bought was the .999 stuff. .900 wasn't moving as fast, and Sterling silverware and Jewelry was a lot slower and at a definite discount.

 

[robertk]

Keep in mind that the popular silver being bought was the .999 stuff. .900 wasn't moving as fast, and Sterling silverware and Jewelry was a lot slower and at a definite discount.

Buy the discounted stuff. It'll go up later.

 

[pepperj]

Joining a coin club that has shows would probably be the best way. Keep in mind that the popular silver being bought was the .999 stuff. .900 wasn't moving as fast, and Sterling silverware and Jewelry was a lot slower and at a definite discount.

Called 1 coin store yesterday asking if the online was their best pricing.
Yes
Not interested in dirty silver (meaning sterling)
Unless the refineries get caught up the price discounts are getting higher.
This shop was -C$1.65 a gram on sterling.

I'm just going to invest in some equipment and acids to bring it to a .999.
Easier to handle and the options start to open up for selling.

 

[tamrock]

Called 1 coin store yesterday asking if the online was their best pricing.
Yes
Not interested in dirty silver (meaning sterling)
Unless the refineries get caught up the price discounts are getting higher.
This shop was -C$1.65 a gram on sterling.

I'm just going to invest in some equipment and acids to bring it to a .999.
Easier to handle and the options start to open up for selling.

That be cool. Please keep us posted on how that all works out on your home refinery project. Ive got a bag with some goldfill items in it. I can't seem to remember where I put it, but im sure its got some good value now. Hard to believe a 1/2 gram of 14k gold is worth dang near fifty bucks.

 

[pepperj]

Now that was an event

 

[Sand Swinger]

Now that was an event

View attachment 2242673View attachment 2242674

Yeah, I saw that earlier. That had to be some type of coordinated event because one minute, I checked the prices and everything was looking good. Several minutes later, I checked again and all the metals; Gold, Silver, Platinum, and Palladium all took the exact same nosedive, at the exact same time.

IMO, when you have 4 different metals that all nosedived the same way at the same time, seems unlikely that was a coincidence. I'm sure we'll be hearing what that was, never seen anything like that before.

 

[Sand Swinger]

So, this was really crazy. This morning, 4 metals all took a nosedive at the exact same time. Gold, Silver, Platinum and Palladium all seemed to drop off a cliff around the 9:50am - 10:00am timeframe. To my eyes, that looks to be something more than just a coincidence. Don't know yet what caused or is behind this. If anyone hears, please post. Take a look at the screenshots below you can see they all dropped the exact same way at the exact same time. Thankfully, the metals are strong and working their way back up again.

 

[pepperj]

That be cool. Please keep us posted on how that all works out on your home refinery project. Ive got a bag with some goldfill items in it. I can't seem to remember where I put it, but im sure its got some good value now. Hard to believe a 1/2 gram of 14k gold is worth dang near fifty bucks.

Just hooking up with old friends that I did a lot of wheeling and dealing with in the 90's -2006.
Amazing how they're still at it and I have been retired from the rat race.
One has the material the other friend has everything to set up an operation. (Family/buddy discounts apply)
Just waiting for the double digit negative temps. to moderate and then a trip to the Big Smoke (Toronto)

 

[pepperj]

So, this was really crazy. This morning, 4 metals all took a nosedive at the exact same time. Gold, Silver, Platinum and Palladium all seemed to drop off a cliff around the 9:50am - 10:00am timeframe. To my eyes, that looks to be something more than just a coincidence. Don't know yet what caused or is behind this. If anyone hears, please post. Take a look at the screenshots below you can see they all dropped the exact same way at the exact same time. Thankfully, the metals are strong and working their way back up again.

View attachment 2242680
View attachment 2242681
View attachment 2242682
View attachment 2242683

There was a few things that happened in the world that made all of this to happen.
Though the recovery is @ a 50% level again, though it does show how volatile the metals are at the moment.
Interesting write up on the Bullion Vault news regarding this sell off.

Gold Crash! Down $3.4 Trillion as Silver Sinks 12% from New Record Highs
Thu, 29-Jan-2026 16:16
GOLD and SILVER SANK from fresh record prices on Thursday, with a crash in the 'safe haven' knocking it almost $500 per ounce lower to $5100 as the industrially-useful precious metal plunged by 11.9% amid a slump in major US AI and tech stocks, led by a crash in Microsoft (Nasdaq: MSFT).

The world's largest software company dropped a quarter-billion-dollars of market cap at the New York opening, crashing by 11.9% after quarterly earnings showed a slowdown in its Azure cloud computing and AI data segment.

But with gold peaking Thursday just $5 per ounce beneath $5600, the precious metal's 8.7% plunge knocked $3.4 trillion off the value of all the gold now estimated to be above ground.

Finding ever-more demand from AI computing and green-energy tech meantime, silver peaked above $121 per Troy ounce − more than 68% higher across January, silver's strongest ever monthly gain outside December 1979 − before sinking to $107 as cloud-computing and data giant Oracle sank 5.4% (NYSE: ORCL) on worsening fears that the AI bubble is about to crash, with chipmaker Nvidia (Nasdaq: NVDA) losing 2.7% at the open.

A rally in both precious metals then put them back at what was a new all-time high on Monday for silver and Wednesday for gold.

BullionVault charts of gold and silver priced in US Dollars

"The problem is volatility feeding on itself," said commodities analyst Ole Hansen at derivatives platform Saxo Bank after this morning's new gold and silver highs.

"As price swings intensify, liquidity thins. Banks and market makers struggle to [manage] risk [and] when their willingness to quote prices in size fades, liquidity deteriorates and volatility blows out."

"Banks don’t have infinite balance sheets to trade precious metals," agrees Simon Biddle, head of precious metals at broker Tullet Prebon.

"Trading volumes have decreased as they are taking less risk.”

Trading volume in the giant GLD gold ETF yesterday jumped to the heaviest since gold's late-October jump through $4000 per ounce.

Silver ETF volumes in contrast saw a further retreat from Monday's record SLV trading levels, and volume in Comex silver futures also fell for the 2nd day running.

But trading in Comex gold futures rose Wednesday after dropping from Monday's 3-month high.

Base metals also sank after leaping to new all-time highs on the sudden easing of financial rules for real-estate developers in China, while crude oil fell from a 6-month high hit amid rumors that the US Trump administration is about to attack Iran and spark "regime change" revolution.

 

[tamrock]

I called around the Denver area to see if anyone is paying on sterling and its a no everywhere. All the big refineries are up to their necks in silver to process and they'll take no more for now is what they say. One buyer told me there's a back up on obtaining the acids needed to do the processing and that's putting things even further back.... Silver, Silver, every where, nor not an once to melt"

 

[pepperj]

I called around the Denver area to see if anyone is paying on sterling and its a no everywhere. All the big refineries are up to their necks in silver to process and they'll take no more for now is what they say. One buyer told me there's a back up on obtaining the acids needed to do the processing and that's putting things even further back.... Silver, Silver, every where, nor not an once to melt"

Takes 1ML/1 gram ratio for nitric/silver
5 gallons would process 19,000 grams of silver