Silver taking off

[silveraddict]

Is this what we all have been waiting for?
Skyrocketing silver price.
Looks like silver is finally going to have it's time to shine.
$30.00, 50.00, 75.00 maybe $100.00
At what price do you sell and what do you sell?
I think I will start selling my 40% when it reaches $40.00
I have a few thousand of them.

The other option is to play the silver/gold ratio.
This might be an INCREDIBLE time for this.
I don't think that gold is going to take as big of a ride as silver.
We might see the ratio down into the teens.
I have played this game a few times.
I have about 500 oz of silver from the last time I traded gold for silver.
This could be a trade that gives me A LOT of gold to stash away.
I gotta think about this.

 

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[Kantuckkeean]

I agree. I think that they're targeting silver and silver miners much more so than gold, but gold will likely be carried along if they're able to drive the price of silver up. I think that a lot of folks on here will be watching closely. If you do sell, please let us know some details (without divulging personal information of course). Just some details that might be helpful to other folks on here who are thinking about selling, like, was it to a major buyer seller like Provident, JM Bullion, APMEX, your local coin store, online garage sale site or Facebook, and % of spot price that you got. That might be useful to some folks here.

I'll do the same if I sell. I mentioned in a thread in the Precious Metals forum about my selling experiences... twice to APMEX. Both times I got 94% of spot price. I haven't decided upon a sell price yet. I figure I'll just watch and see what happens. I'm not in a position to buy more at present, so my current position is hold.

Kindest regards,
Kantuck

 

[Armstrong]

I regret only buying 2 rolls of silver in March when it crashed to 10 or 11 bucks per once. I think the 1400 dollar stimulus possibility will have the biggest effect on the price. Whether its passed or not. Around 50 an ounce I would consider selling.

 

[FreedomUIC]

I regret only buying 2 rolls of silver in March when it crashed to 10 or 11 bucks per once. I think the 1400 dollar stimulus possibility will have the biggest effect on the price. Whether its passed or not. Around 50 an ounce I would consider selling.

The stimulus has nothing to do with it. The GameStop instigators are now going after silver because there is more paper than physical and a ton of shorts right now.

 

[TheWalrus]

This whole thing is fascinating, it reads like the old movie Trading Places, they know who went short, and how far short they are, and are now playing the odds that they can beat them at their own game. Too bad my totals for last year were under 4 oz, due to criminal lack of dump banks in this area.

 

[ArkieBassMan]

if the short squeeze on silver happens, the problem may be being able to sell your physical silver for anywhere near spot...at least to the big metal exchanges. APMEX had already pulled all their silver products off the market this weekend just on the rumor that the squeeze might be coming. If silver makes the quick jump to $40+, I don't expect APMEX and similar companies to offer anywhere near the typical ~94% to buy your metal as short squeezes are historically a very temporary run-up and they won't get left holding the bag if/when silver crashes back down. Now if the squeeze on paper silver actually happens and causes a huge surge in demand for physical silver, then it will absolutely be time to sell at least some of the stash, IMO.

 

[Kantuckkeean]

Yeah... jrf30 alluded to that problem with APMEX a while back. He was considering selling some ASEs and they were offering below spot but had ridiculous premiums and the spread was too big. He could have made much more selling locally.

Kindest regards,
Kantuck

 

[Clad2Silver]

I dumped my gold and silver this past year when silver was at $28.50 and gold was hovering around $1950-$2000. I dumped $800 FACE value in 90% silver plus a number of .999 silver bars and ingots. I also dumped Morgan and Peace dollars plus some Canadian 80% silver coins. There's no way to tell what the market will do. When the number is right for you, that's when it's time to unload.

 

[mts]

I dumped my gold and silver this past year when silver was at $28.50 and gold was hovering around $1950-$2000. I dumped $800 FACE value in 90% silver plus a number of .999 silver bars and ingots. I also dumped Morgan and Peace dollars plus some Canadian 80% silver coins. There's no way to tell what the market will do. When the number is right for you, that's when it's time to unload.

How did you dump it? One of the big boys (APMEX, JM, etc.)? Locally on Craigslist? LCS? Or some other buyer?

 

[fistfulladirt]

Seeing $100/oz. sell offers locally on Craigslist this morning. Well, it’s Craigslist.

 

[Kantuckkeean]

Seeing $100/oz. sell offers locally on Craigslist this morning. Well, it’s Craigslist.

You should reach out to them and offer to sell all of your stash to them at $85 or 80/oz. Then they could sell it at $100/oz. and you’d both be happy.

Kindest regards,
Kantuck

 

[Clad2Silver]

How did you dump it? One of the big boys (APMEX, JM, etc.)? Locally on Craigslist? LCS? Or some other buyer?

I sold my bullion items to a local coin dealer who specializes in precious metals. He always pays top dollar and I don't have to ship it anywhere and wait for the payment. Transaction is quick and easy and it's done at my home.
I'd NEVER sell to APMEX, JM, or any of the other big named companies.

 

[Ohiogoldfever]

And here I’m hording all the PMs I can manage to scrounge figuring they can only print so long before the paper money is trash.

Sure looks like the dollars hurting.

 

[ArkieBassMan]

And here I’m hording all the PMs I can manage to scrounge figuring they can only print so long before the paper money is trash.

Sure looks like the dollars hurting.

I don't disagree with any of that. With that said, if a group of retail investors want to band together and very artificially (and very temporarily) run up the price of silver, I will happily take advantage. I won't totally get away from PMs, or likely even silver, forever. I will either buy the silver back at a cheaper price when the squeeze is over or put the proceeds into gold if it doesn't get dragged along for the ride. Likely some combination of both.

I should add that I was skeptical that the big squeeze would happen this weekend and I'm even more skeptical now. But, ready to act if I get the opportunity.

 

[ARC]

And here I’m hording all the PMs I can manage to scrounge figuring they can only print so long before the paper money is trash.

Sure looks like the dollars hurting.

The American dollar will never hurt... don't believe the hype... conspiracy bull crap.

Wanna know why ? ? ?

The American dollar is the most prized form of currency... WORLDWIDE.

Accepted worldwide in every country above all other currencies and considered equal or better than their own.

So...

Its just BS... believe that.

 

[LooseChange]

The American dollar will never hurt... don't believe the hype... conspiracy bull crap.

Wanna know why ? ? ?

The American dollar is the most prized form of currency... WORLDWIDE.

Accepted worldwide in every country above all other currencies and considered equal or better than their own.

So...

Its just BS... believe that.

I don't disagree, but "never" is too strong of a sentiment. Failure of the usd will not occur in our lifetime unless something really bizarre happens. I would say it is nearly impossible. However . . .

The dollar has only been free wheeling for 50 years - not long in the scheme of things. Before 1971 (or, 1976 - take your pick), the dollar was related to gold.

All previous world power fiats have failed. The USD dollar will fail too. Hopefully it is multiple generations from now.

 

[ARC]

Yeah man... people like cash... its going nowhere... especially if people buck that thought.

The only problem that could ever "do cash in"... is the desire by "higher ups" to "track" peoples money in everyway they can... in other words... Electronic money cards companies are the ONLY REAL threat to cash money.

I don't know about you but I have always liked what I can see and hold... everything else is just digits on a screen and really give me NO sense of real control... but we all use... and will use banks to hold SOME of your money.

This might stem in me from when I read about the great depression (for I wasn't even born ... nor my mother) where people went to the banks to get enough money to "get by" and there was none to be had and the banks were all closed.

In other words... I trust cash money in my hand more than I trust a bank when it comes right down to it.... I don't like the fact I am "naked" / "vulnerable" if for some damn reason or another concerning some entity.

Spreading your money... Metals... Cash... Stock... Bank... etc etc.

Never place all of your chips on one square is now the normal M.O in America... not to mention that its is looked at by all gamblers as ... "A bad bet".

With that said... no way cash is going anywhere... people will always want it as the "standard" too badly.

Besides... life must go on even in power outages... wilderness... hand to hand trade... internet "dead zones"... etc etc ect... all of which cards are useless then.

So... cash will remain King... And the "form of safety net".... and as well should be.

It is a right of a human to survive by trade... no matter it is.

Ill trade a fish for a chicken if need be to eat something other than fish if that's all I have.

So... ... Chickens and fish aren't going anywhere soon either...

 

[mts]

All previous world power fiats have failed.

This is simply not true. As long as we have fiats that are still in use then you can't say all have failed. But here is a 100% true statement that you can feel free to use if you want...

ALL attempts to use a gold or silver standard to back a currency have failed. There is no arguing that point.

 

[DeepseekerADS]

I've been sitting on silver since the Hunt Brothers days. It will be a long time to go yet to hit my cost. So, I quit worrying about that years ago.

It'll go to my kids....

 

[Owassokie]

The American dollar will never hurt... don't believe the hype... conspiracy bull crap.

Wanna know why ? ? ?

The American dollar is the most prized form of currency... WORLDWIDE.

Accepted worldwide in every country above all other currencies and considered equal or better than their own.

So...

Its just BS... believe that.

My reply is relatively simple. You stated the "American dollar will never hurt" and then referenced how its the world currency. Has the American dollar 'always' been the world currency? Of course not....and someday that will be true again. I don't agree with any conspiracy theories regarding the eminent fall of the US dollar...but it will happen at some point.

Here's my theory...I believe trust is a huge issue in the US today and will continue. Eventually everyday people will start to understand and become comfortable with digital currency and my belief is that digital currency will eventually replace as the world currency. That said, I'm not loading up because I have no idea which digital currency(s) will make it.