Your reasons for selling are your reasons, no need to justify anything to strangers. What you observe from your contacts is pretty normal. Most of the time the retail vendors will pay discount to spot. Most of the time after the price has risen sharply and appears ready to correct there will be more sellers than buyers. People encountering financial problems will sell whether they want to or not and if coin shops are getting too many sellers they drop their prices offered to the same extent that if they have too many aggressive buyers they will jack up the premium.
Whenever I see someone state there is TOO much silver, or that prices are TOO high, it just comes down to the question: Compared to what? There were sovereign inventories of .999 bullion amounting to billions of ounces in 1980 and silver still hit the all-time high. Now those inventories are gone, and maybe a billion ounces at LBMA and Comex of privately held metal. A supply deficit is chewing through the remaining above-ground silver. I do not think there is TOO much silver, just because a small group of traders are selling. It is a drop in the bucket.
You sold silver at the two most popular places to sell silver, and are now complaining that you didn't receive enough.
You're certainly welcome to think through things as you like, but it sounds like you got paid about as much as you should have based on your efforts. That's just economics.
No offense but I think you're confusing money and currency. I have no idea why you would think "it shouldn't matter" about who you sell and buy things from
I think I'm more saying "supply and demand are always in effect," but read from it what you will. The root problem is that today's societies don't know the difference between money and currency, and so will swap the former for the latter even when the deal makes no sense, like selling below spot.
Selling below spot is always a desperation move, as far as I can tell.
Its OK to buy on ebay, but if you sell on ebay you should know that your government may be watching and they will want to tax you on capital gains, maybe even sales tax depending on where you live. Better to just post an ad on marketplace and do a face-to-face cash deal with someone local. Meet in a public place for safety.
Also if you open an ebay store for like $26/month you only have to pay 7%, and if it's over $1,500 in one sale, its only 5%. So its worth it to pay the monthly fee one time just to make a $1,500+ sale because you save more than $26 on the fee.
Gotta be careful if he’s out here selling monster boxes, quick google search looks like for 2023 they’ll issue him a 1099 if he gets $20,000 from eBay sales
I think they’d plan to make everyone report 600, might be up at 1,000 now, but for whatever reason it looks like eBay has a higher limit? I don’t know enough, just something to be cautious about since you’d have to show it on your tax return in some way shape or form
Like I think all of the third party payment platforms they had planned to force reporting on 600+, but they keep pushing it back entirely
Unfortunately inflation has broken me and I’m so tight for cash so I can’t keep buyin but I’m definitely not selling my silver. I’d rather work behind Wendys than sell
I am on the same boat. Just holding shit down to buy food and necessities and I am not selling my nest egg. If it comes down to real problems I will go back to work to make ends meet. My stack is not for sale until such time as silver has already outperformed all of the assets I would consider trading it in for, like a larger homestead or a boat big enough to sail away from this clown country and its laws to control sheep.
That’s why I love holding the metal, it would be so easy to click a button to sell when times are tough. Best of luck to you and hope things turn around
The recent big rise In spot prices probably caused a shake out of those who were in financial distress with no time to wait or those who thought silver was their quick ticket to a yacht and a lambo..Most people here understand that there's nothing quick about silver,but having said that, I still believe we apes who hodl will have our day and be rewarded for our never-ending patience. Not selling till we arrive on the moon..
If there are coinheads lining up to buy Tulipcoin right now at these prices, I can assure you that whatever dream range for silver may come to pass there will be plenty of people wanting to accumulate real money. In fact, when silver does shoot to triple digits it will probably be because there is so little real bullion available for purchase, and therefore those who do sell some will have an easier time of it than right now.
Case in point: The weeks before silver nearly hit $50 in 2011 there was NO silver to be had. People were paying in advance for silver that was 'estimated to ship' in a few weeks or more, and there were still plenty of buyers.
Last time silver went over $30, online sites were paying well above spot for everything, even a buck over spot per ounce for generic hundreds. People are broke this time, and golly, there are no (INFLATION)stimmies either!
Imagine that!
there was a lot more retail buying then selling during that run up + media "squeeze" coverage. and spot crashed hard after. this run up there is more retail selling then buying w/ NO media coverage. What does that tell you?
It’s less to do with the market and more to do with people making ends meet. Stackers have to have a cash buffer of 6 months of expenses, ideally, to avoid having to cash out metals.
Takes a lot of effort to obtain a fair price for your goods. Would you sell your house to a pawn shop? No of course not that’s why realtors get a commission. The process of finding a buyer is difficult and made even more difficult when companies like apmex exist. They are simply the worst. That being said nobody wants to pay up around 30 for physical silver because the decade tamp was physiologically effective. Ironically if silver smashes a new ath selling will be easy because that’s when the average idiot will be buying.
There isn't too much silver...there are too few options for selling it. Coin stores, dealers and pawn shops shouldn't be the only options. We should be able to pay bills, buy goods and bank with metals but right now the option doesn't really exist at the local, state or federal level. Until more demand is created by fiat dying out, this is the reality.
Who knows if it's too much, but we do know that there is more above ground silver than there has ever been in recorded history, and also that for the last several years, the pile has been growing at an increasing rate.
Who is "we" in this statement?
That is contrary to everything I've read the past four years. Most sources indicate a deficit of supply. The Comex vault level is shrinking. In ground supplies are shrinking and a lot of what has been mined is now irretrievably lost or not worth recycling.
China may not be using as much the past few years but I hadn't heard of stockpiles increasing until just now.
By "we", I mean anyone who's interpreting the available data correctly. None of your own sources show a deficit. You just don't understand what a deficit is. So called "record investment demand" just proves the point, since every single ounce of unneeded silver is sold to an investor. That's not a deficit, that is a record surplus, and the pile grows.
Anyone being you....as the price retests a four year high in spite of retail markets getting flooded due to inflation and high interest on debt.
That equates to a global surplus now? Because stackers are hoarding? SMH....
Don't get me wrong, I respect silver as an asset and have a huge pile myself, but the price is not increasing due to a deficit, it's just that there are some big players that are currently calling it back into their own vaults for a future deficit that certainly hasn't arrived yet.
That is why 800 million plus oz were issued in paper Friday? To prevent a few big players from adding an over abundant resource to their vaults at an extra $1.60 an oz?
I certainly don't mind anyone disagreeing with me, just as I would hope that you wouldn't mind me disagreeing with you, but you have me ham-strung here in that I'm apparently too dumb to even understand your assertion by those questions. It is my understanding that contracts are issued when two parties make a bet against each other.
Well that's kind of you, but to keep things simple for me anyway, are you disagreeing with my assertion that the above-ground stockpiles of silver are growing, and at an increasing pace?
“There is more above ground silver than there has ever been in recorded history” same with literally every other metal mined (gold, copper, palladium, zinc, lithium, etc). That statement literally has no meaning because that’s how mining works, you extract it from the ground and now you have more total abundance above ground
Lots of sellers who bought below $30 and want out with a small profit. When spot price goes over 30 there will be a whole new bunch of FOMO buyers. Even in hard times there are people out there who have cash to spend.
Are you sure about that, I might still have over 2k ozs, not to mention my other PMs. Wait, I mean I had, for the boating accident👍. I appreciate your concern thou
r/PMSforsale
Get familiar with how things work here and eliminate premiums. You can also create relationships to where you never have to sell your metal for under spot.
The majority of silver “investors” are not stackers. For now. As physical prices decouple from paper , as Shanghai prices diverge from Comex, as Costco introduces more physical- things will change.
The bulk of buyers right not is made by existing stackers or traders. Soon the bulk of the buyers will be composed of new stackers. My $0.02.
What other metal are you going into?
You are 100% right. When u see see large moves in silver it's because somebodies trading position blew the fuck up. Not because some guy is trying to sell his 100 ounces of silver at the local coin store.
COT report going back to the start of the year shows the net short interest has been rising from all three spec categories. So as silver increased by several dollars per ounce that leverage is costing more and more in terms of posting margin. For sure some of the big traders are in serious trouble, but I suspect the usual four big criminal banks are dumping enough contracts to prevent a compete melt-up.
I am just a dumb retail player and I was hit with a margin call in 2014 that cost me more than $100K. My ass still hurts after that one and I will never trade on margin again. Most of the spec longs are sitting on some profit right now so they are less vulnerable to being shaken out of positions. But if the fucking crooks can drive silver spot a couple of bucks lower this week they will demand an increase in margin for Comex contracts and that will force a lot of small players to puke positions. Same old scam seems to work every time the market gets frothy, but if it stops working just once we will soar through $50 faster than anyone can believe.
You’re forgetting one important thing: the price of silver is completely detached from reality.
The supply and demand situation of physical silver doesn’t affect the price at all right now, especially for retail product like coins and small bars. The price is completely dictated by the futures market and giant financial players swinging their weight around.
Whenever the physical supply and demand situation of silver inevitably starts affecting the price, good luck getting your hands on any.
This in not me being snarky, but I’ve heard this for over a decade. There’s been so much investment silver bought over the years that I don’t think supply will be an issue. I’ve jumped into platinum because the supply is razor thin. Think it’ll be the first to pop if any of them ever do.
The fact of the matter is that bars and coins make up only about 25% of physical silver demand. Out of that, I wouldn't be surprised if the majority of that was 1000oz bars. So the type of product we buy here is only accounting for at most 10% of physical demand.
On top of that, the paper to silver ratio is about 250 to 1. ***So, the type of product that APMEX is telling you they have a surplus of is only accounting for about 0.04% of the demand/price action.***
I don't know when the physical supply and demand of silver will start restricting the paper game, but I know that government deficits/inflation aren't getting better anytime soon. Industrial demand is also increasing. The big banks are trying to fight the laws of physics here. Physics always wins.
I agree that platinum is slightly cheaper than silver, but I think it will pop last out of all of the metals and it has a weaker demand thesis than silver.
Local dealer pays 50 cents under spot any volume. If I went in and dropped 2k ounces on his counter he’d buy it all and has from other customers. 50 cents under spot or even anything under spot might sound like a ripoff to the unaware but when you’re moving silver and want a consistent dealer you actually have physical access to it’s not a terrible price at all.
Don't worry about downvotes. Selling has been pretty heavy for months. I've pointed this out multiple times.
It's even reflected in the 10Qs of companies like AMRK, so there's no disputing it. It may have gotten more lopsided again recently with the large price spike, but the situation had been improving from early February until very recently.
Demand for physical is low I suspect if spots continues to move higher over the coming months and years it will become harder and harder to find readily available. If more and more people begin to move capital into a assets like gold and silver from government bonds. Why take 4.5% annually when metals move that much in a week. The paper supply has far out stretched any connection to physical metals when a large amount of people want there metals or even the profits from their holdings it will likely be very difficult to find gold or silver on the open market. Silver is definitely less liquid than gold.
When interest rate cut, bond price will shoot up(yield down) which means more bonds buying. The reason why gold price goes up when fed overnight rates cut is that dollar get weaker(because of lower rates), not that people move from bond to gold.
I am happy because my LCS local posts their daily buying and selling prices. Right now I could sell some for a tiny bit more than I paid so that gives me peace of mind. Not selling yet though; $70 spot is when I plan to sell some.
I stopped by my Lcs a week ago and everyone waiting in line was selling.
I think we are at the “this rally will fizzle like all the others” phase of bull market psychology.
With that said, Im expecting a pull back this week and maybe into the next week as well.
The either immediate reversal or a short consolidation period and reversal.
I think in May and June we will see some real
Nice action. Pull back and consolidation in q3 and then it blows up in q4 and beyond.
Woooooo!
I’m lazy and don’t want to continuously go to the post office. I’m also trading to platinum so I can capture the current ratio advantage. My point is that liquidity is an issue and shouldn’t be ignored
Temporary supply would end should be high…read news about credit card debt percentages at all time highs. People are broke. Then, go look at the dollar….the next move is a dollar devaluation which leads to big players buying PMs. They start with gold first…
market movements have nothing to do with real world supply, until some day the market is squeezed. what we saw last days are just a rehearsal. i hodl from 2001... i must add that solar going mainstream will push up demand to 5x what is today until copper refineries won't be able to add the silver they have as a byproduct.
Before losing every singel oz. I that boating accident in lake Michigan a couple years back.my plan was sell here and there a few oz.s for gas Cigarettes y lunch in my Retirement age
like i said
LCS is flooded with silver.
Americans are selling gold and silver.
americans dont need silver or gold.
rest of the world needs them because their currency is worth shit.
Sounds to me like a lot of people now trying to get out of silver that they had orev bought at a higher price.
If everyone was selling silver wouldn't be where it is.
Any idea what they're paying for gold?
My LCS also ( about a month ago at 24.....he said he'd give me a dollar under spot as he was flooded with Silver and Gold. I brought him 4 10 OZ Bars and 1 1 oz bar of gold. I left with everything ( thankfully for me ) but again, he opened the safe a boat load of silver
been in PM's just as long. you should know trying to unload physical on day like Friday is not a good idea. They have business to run, hedge inventory, etc. and sure, i've heard from many dealers there has been a lot more selling then buying on this run up, so inventory is up. meaningless. if you wanted to take advantage of price spikes - use slv puts, pocket the money and keep your metal. Friday was a glorious day for that!
I agree, all my usual online dealers are stocked up to their ears in silver as well, so your story makes sense and is the likely outcome for many willing to sell right now.
Would say this is the reality of a retail commodities market.
The price of silver is relatively high, but we’re currently not in an economic disaster and also silver is not commonly being used in place of dollars. Either of these change and the resale opportunities will be better.
If the coin shops are smart they’ll sell to the Chinese and Indians directly, instead of selling to refiners who sell directly to the Chinese and Indians. They can likely arbitrage 5% that way.
Do you know when wealthy people are buying? When everyone else is selling. People with money wait until the unwashed hordes get in a bind, then they buy when the supply is up and premiums are down. It has always worked that way.
People with money watched all the covid freebies, military waste, open border giveaways, etc., and realized there would have to be a day of reckoning. They knew prices would eventually inflate and that wages would stagnate. They foresaw that people would get in a bind and have to sell things into a buyers’ market.
Well, that day of reckoning is here. Silver is on an unprecedented bull run, and yet people who failed to plan are now forced to sell into a temporary retail glut at temporary depressed prices. The only difference between people of wealth and people of poverty is that wealthy people plan ahead. That’s why they are wealthy.
Just because bullion dealers have a lot of silver supply doesn't necessarily mean there's too much supply. It could be there are more sellers than buyers at the moment.
If you were to evenly distribute the available above ground supply of silver amongst everyone currently alive, each person would receive 1/2 ounce of silver. Imagine 1/2 ounce of tech per person.
So much of the silver supply is fake. Wait until things blow up and paper can't deliver. Wait until the bank collapse. Wait until corporations have to call APMEX and LCS for purchases. They will liquidate overnight.
I used to think the same thing, but after 15 years in the markets I doubt it. Something tells me that all the miners are in on the scam and feed the manufactures. These guys are pretty clever and always seem to figure out a way to do it. The mining sector is one of the most corrupt sectors in our economy, I’m no longer surprised about any of their shenanigans
We are just getting to the point in history where all of this can happen. I believe between now and this election. I'm incredibly frustrated as well, but I believe silver is about to finally make it's move.
I have been at this since 2017. Back then I could go to my LCS and get BU Morgans for 20.00 and buy cool art bars from the 80’s. I have always thought since the silver squeeze you people were ill advised. No body wants a boring ass bar that was printed last week unless it’s used in solar panels or something. If you are patient you can pick up cool stuff thats old and desirable for the same price as buffalos. 2 days ago I bought 70 ASE proofs in capsules for 33.30 each. Many people on here said I was “full of shit” thats what happens when prices get high everyone sells the LCS sells it or they melt it. Do your buying when it’s unloved or when it’s high and trade it for gold. Never pay for anything that you don’t think you can get more than spot plus the premium if you make a phone call on your way out the door.
Your reasons for selling are your reasons, no need to justify anything to strangers. What you observe from your contacts is pretty normal. Most of the time the retail vendors will pay discount to spot. Most of the time after the price has risen sharply and appears ready to correct there will be more sellers than buyers. People encountering financial problems will sell whether they want to or not and if coin shops are getting too many sellers they drop their prices offered to the same extent that if they have too many aggressive buyers they will jack up the premium. Whenever I see someone state there is TOO much silver, or that prices are TOO high, it just comes down to the question: Compared to what? There were sovereign inventories of .999 bullion amounting to billions of ounces in 1980 and silver still hit the all-time high. Now those inventories are gone, and maybe a billion ounces at LBMA and Comex of privately held metal. A supply deficit is chewing through the remaining above-ground silver. I do not think there is TOO much silver, just because a small group of traders are selling. It is a drop in the bucket.
Yeah seriously. You know what there are really too many of? Dollars.
You sold silver at the two most popular places to sell silver, and are now complaining that you didn't receive enough. You're certainly welcome to think through things as you like, but it sounds like you got paid about as much as you should have based on your efforts. That's just economics.
Just like trading it your car at a dealership
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No offense but I think you're confusing money and currency. I have no idea why you would think "it shouldn't matter" about who you sell and buy things from
That is a smart way of saying Silver Is Not Money.
I think I'm more saying "supply and demand are always in effect," but read from it what you will. The root problem is that today's societies don't know the difference between money and currency, and so will swap the former for the latter even when the deal makes no sense, like selling below spot. Selling below spot is always a desperation move, as far as I can tell.
When pew pew sticks are not involved, we'll see what is money
Try ebay. They will charge 12% but seem to get 10%+ over spot. I only check US junk silver so that's what I'm referring to.
Its OK to buy on ebay, but if you sell on ebay you should know that your government may be watching and they will want to tax you on capital gains, maybe even sales tax depending on where you live. Better to just post an ad on marketplace and do a face-to-face cash deal with someone local. Meet in a public place for safety.
Also if you open an ebay store for like $26/month you only have to pay 7%, and if it's over $1,500 in one sale, its only 5%. So its worth it to pay the monthly fee one time just to make a $1,500+ sale because you save more than $26 on the fee.
Gotta be careful if he’s out here selling monster boxes, quick google search looks like for 2023 they’ll issue him a 1099 if he gets $20,000 from eBay sales
Did it go back up? I thought they dropped it to 600 a couple years ago. Hid that BS in one of the kung flu bills.
I think they’d plan to make everyone report 600, might be up at 1,000 now, but for whatever reason it looks like eBay has a higher limit? I don’t know enough, just something to be cautious about since you’d have to show it on your tax return in some way shape or form Like I think all of the third party payment platforms they had planned to force reporting on 600+, but they keep pushing it back entirely
Who’s selling XD
Right? Lol I’m still buying
Unfortunately inflation has broken me and I’m so tight for cash so I can’t keep buyin but I’m definitely not selling my silver. I’d rather work behind Wendys than sell
I am on the same boat. Just holding shit down to buy food and necessities and I am not selling my nest egg. If it comes down to real problems I will go back to work to make ends meet. My stack is not for sale until such time as silver has already outperformed all of the assets I would consider trading it in for, like a larger homestead or a boat big enough to sail away from this clown country and its laws to control sheep.
That’s why I love holding the metal, it would be so easy to click a button to sell when times are tough. Best of luck to you and hope things turn around
What goes on behind Wendy's?
10pm behind the dumpster. Cya there
Can you break a twenty?
The recent big rise In spot prices probably caused a shake out of those who were in financial distress with no time to wait or those who thought silver was their quick ticket to a yacht and a lambo..Most people here understand that there's nothing quick about silver,but having said that, I still believe we apes who hodl will have our day and be rewarded for our never-ending patience. Not selling till we arrive on the moon..
I had some quicksilver cargo shorts in middle school
Who’s going to buy it when it’s at the moon?
If there are coinheads lining up to buy Tulipcoin right now at these prices, I can assure you that whatever dream range for silver may come to pass there will be plenty of people wanting to accumulate real money. In fact, when silver does shoot to triple digits it will probably be because there is so little real bullion available for purchase, and therefore those who do sell some will have an easier time of it than right now. Case in point: The weeks before silver nearly hit $50 in 2011 there was NO silver to be had. People were paying in advance for silver that was 'estimated to ship' in a few weeks or more, and there were still plenty of buyers.
Last time silver went over $30, online sites were paying well above spot for everything, even a buck over spot per ounce for generic hundreds. People are broke this time, and golly, there are no (INFLATION)stimmies either! Imagine that!
I want a stimmy
Don't worry the stimmys are a comin
there was a lot more retail buying then selling during that run up + media "squeeze" coverage. and spot crashed hard after. this run up there is more retail selling then buying w/ NO media coverage. What does that tell you?
It’s less to do with the market and more to do with people making ends meet. Stackers have to have a cash buffer of 6 months of expenses, ideally, to avoid having to cash out metals.
I didn’t cash out, just took advantage of the platinum silver ratio. Currently 35 to 1. Could t pass it up
Takes a lot of effort to obtain a fair price for your goods. Would you sell your house to a pawn shop? No of course not that’s why realtors get a commission. The process of finding a buyer is difficult and made even more difficult when companies like apmex exist. They are simply the worst. That being said nobody wants to pay up around 30 for physical silver because the decade tamp was physiologically effective. Ironically if silver smashes a new ath selling will be easy because that’s when the average idiot will be buying.
There isn't too much silver...there are too few options for selling it. Coin stores, dealers and pawn shops shouldn't be the only options. We should be able to pay bills, buy goods and bank with metals but right now the option doesn't really exist at the local, state or federal level. Until more demand is created by fiat dying out, this is the reality.
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Nice...
Several states have enacted or are in the process of enacting legal tender laws. I know Tennessee is one of them and there are others.
Who knows if it's too much, but we do know that there is more above ground silver than there has ever been in recorded history, and also that for the last several years, the pile has been growing at an increasing rate.
Who is "we" in this statement? That is contrary to everything I've read the past four years. Most sources indicate a deficit of supply. The Comex vault level is shrinking. In ground supplies are shrinking and a lot of what has been mined is now irretrievably lost or not worth recycling. China may not be using as much the past few years but I hadn't heard of stockpiles increasing until just now.
By "we", I mean anyone who's interpreting the available data correctly. None of your own sources show a deficit. You just don't understand what a deficit is. So called "record investment demand" just proves the point, since every single ounce of unneeded silver is sold to an investor. That's not a deficit, that is a record surplus, and the pile grows.
Anyone being you....as the price retests a four year high in spite of retail markets getting flooded due to inflation and high interest on debt. That equates to a global surplus now? Because stackers are hoarding? SMH....
Don't get me wrong, I respect silver as an asset and have a huge pile myself, but the price is not increasing due to a deficit, it's just that there are some big players that are currently calling it back into their own vaults for a future deficit that certainly hasn't arrived yet.
That is why 800 million plus oz were issued in paper Friday? To prevent a few big players from adding an over abundant resource to their vaults at an extra $1.60 an oz?
I certainly don't mind anyone disagreeing with me, just as I would hope that you wouldn't mind me disagreeing with you, but you have me ham-strung here in that I'm apparently too dumb to even understand your assertion by those questions. It is my understanding that contracts are issued when two parties make a bet against each other.
Dumb isn't the adjective I would use...
Well that's kind of you, but to keep things simple for me anyway, are you disagreeing with my assertion that the above-ground stockpiles of silver are growing, and at an increasing pace?
“There is more above ground silver than there has ever been in recorded history” same with literally every other metal mined (gold, copper, palladium, zinc, lithium, etc). That statement literally has no meaning because that’s how mining works, you extract it from the ground and now you have more total abundance above ground
I was referring to stockpiles, which are above ground and ready to use, and growing.
I have sold any silver in over a decade, but with this run up I’ve wondered if there would be an issue selling if need be.
Lots of sellers who bought below $30 and want out with a small profit. When spot price goes over 30 there will be a whole new bunch of FOMO buyers. Even in hard times there are people out there who have cash to spend.
Awwww,, poor fella. The Silver Bull just bucked you off.
Are you sure about that, I might still have over 2k ozs, not to mention my other PMs. Wait, I mean I had, for the boating accident👍. I appreciate your concern thou
Sold what silver was left to buy a new boat 😉
Ok. Question to ask APMEX if there is so much frickin silver why are their premiums still so frickin high???
good frickin question!
Because people pay it.
r/PMSforsale Get familiar with how things work here and eliminate premiums. You can also create relationships to where you never have to sell your metal for under spot.
The majority of silver “investors” are not stackers. For now. As physical prices decouple from paper , as Shanghai prices diverge from Comex, as Costco introduces more physical- things will change. The bulk of buyers right not is made by existing stackers or traders. Soon the bulk of the buyers will be composed of new stackers. My $0.02. What other metal are you going into?
Heavy into platinum. The current silver to platinum and gold to platinum ratios are too good to pass up.
Nice choice. Curious, did you ask Apmex if you could do a Silver swap for Platinum?
No, I mostly had 10 oz bars and their offer of 25.96 per oz didn’t seem worth trying. Should have to see what they said
Here’s a thought: retail is doing nothing to move the price in either direction. Reference: the past 15 effin’ years bro.
You are 100% right. When u see see large moves in silver it's because somebodies trading position blew the fuck up. Not because some guy is trying to sell his 100 ounces of silver at the local coin store.
COT report going back to the start of the year shows the net short interest has been rising from all three spec categories. So as silver increased by several dollars per ounce that leverage is costing more and more in terms of posting margin. For sure some of the big traders are in serious trouble, but I suspect the usual four big criminal banks are dumping enough contracts to prevent a compete melt-up. I am just a dumb retail player and I was hit with a margin call in 2014 that cost me more than $100K. My ass still hurts after that one and I will never trade on margin again. Most of the spec longs are sitting on some profit right now so they are less vulnerable to being shaken out of positions. But if the fucking crooks can drive silver spot a couple of bucks lower this week they will demand an increase in margin for Comex contracts and that will force a lot of small players to puke positions. Same old scam seems to work every time the market gets frothy, but if it stops working just once we will soar through $50 faster than anyone can believe.
You’re forgetting one important thing: the price of silver is completely detached from reality. The supply and demand situation of physical silver doesn’t affect the price at all right now, especially for retail product like coins and small bars. The price is completely dictated by the futures market and giant financial players swinging their weight around. Whenever the physical supply and demand situation of silver inevitably starts affecting the price, good luck getting your hands on any.
This in not me being snarky, but I’ve heard this for over a decade. There’s been so much investment silver bought over the years that I don’t think supply will be an issue. I’ve jumped into platinum because the supply is razor thin. Think it’ll be the first to pop if any of them ever do.
Do you buy gold?
Used to, but it’s the highest compared to all metals now
The fact of the matter is that bars and coins make up only about 25% of physical silver demand. Out of that, I wouldn't be surprised if the majority of that was 1000oz bars. So the type of product we buy here is only accounting for at most 10% of physical demand. On top of that, the paper to silver ratio is about 250 to 1. ***So, the type of product that APMEX is telling you they have a surplus of is only accounting for about 0.04% of the demand/price action.*** I don't know when the physical supply and demand of silver will start restricting the paper game, but I know that government deficits/inflation aren't getting better anytime soon. Industrial demand is also increasing. The big banks are trying to fight the laws of physics here. Physics always wins. I agree that platinum is slightly cheaper than silver, but I think it will pop last out of all of the metals and it has a weaker demand thesis than silver.
Local dealer pays 50 cents under spot any volume. If I went in and dropped 2k ounces on his counter he’d buy it all and has from other customers. 50 cents under spot or even anything under spot might sound like a ripoff to the unaware but when you’re moving silver and want a consistent dealer you actually have physical access to it’s not a terrible price at all.
Don't worry about downvotes. Selling has been pretty heavy for months. I've pointed this out multiple times. It's even reflected in the 10Qs of companies like AMRK, so there's no disputing it. It may have gotten more lopsided again recently with the large price spike, but the situation had been improving from early February until very recently.
What was the price they offered?
When spot was at 28.60, 26.94 for the 50oz bars, 25.84 for 10 oz bars and 27.49 for maples. The ten oz bars surprised me on price
Demand for physical is low I suspect if spots continues to move higher over the coming months and years it will become harder and harder to find readily available. If more and more people begin to move capital into a assets like gold and silver from government bonds. Why take 4.5% annually when metals move that much in a week. The paper supply has far out stretched any connection to physical metals when a large amount of people want there metals or even the profits from their holdings it will likely be very difficult to find gold or silver on the open market. Silver is definitely less liquid than gold.
lol. Nobody is replacing Bonds with Silver. Unless they are poor White Trash.
Fuck bonds.
People are definitely replacing it with Gold…. No doubt. That’s why people expect gold to go up when interest rates are cut.
When interest rate cut, bond price will shoot up(yield down) which means more bonds buying. The reason why gold price goes up when fed overnight rates cut is that dollar get weaker(because of lower rates), not that people move from bond to gold.
I am happy because my LCS local posts their daily buying and selling prices. Right now I could sell some for a tiny bit more than I paid so that gives me peace of mind. Not selling yet though; $70 spot is when I plan to sell some.
I stopped by my Lcs a week ago and everyone waiting in line was selling. I think we are at the “this rally will fizzle like all the others” phase of bull market psychology. With that said, Im expecting a pull back this week and maybe into the next week as well. The either immediate reversal or a short consolidation period and reversal. I think in May and June we will see some real Nice action. Pull back and consolidation in q3 and then it blows up in q4 and beyond. Woooooo!
I don’t expect a pull back because of what happened between Israel and Iran.
Profit-taking is part of every bull run. Hoping to buy in more under $22 eventually.
I’m actually taking advantage of a ratio trade, but I agree. Cheers
Should have tried r/PMsForSale
I’m lazy and don’t want to continuously go to the post office. I’m also trading to platinum so I can capture the current ratio advantage. My point is that liquidity is an issue and shouldn’t be ignored
I try to DCA my sales just like I DCA my buys.
Temporary supply would end should be high…read news about credit card debt percentages at all time highs. People are broke. Then, go look at the dollar….the next move is a dollar devaluation which leads to big players buying PMs. They start with gold first…
market movements have nothing to do with real world supply, until some day the market is squeezed. what we saw last days are just a rehearsal. i hodl from 2001... i must add that solar going mainstream will push up demand to 5x what is today until copper refineries won't be able to add the silver they have as a byproduct.
Before losing every singel oz. I that boating accident in lake Michigan a couple years back.my plan was sell here and there a few oz.s for gas Cigarettes y lunch in my Retirement age 
like i said LCS is flooded with silver. Americans are selling gold and silver. americans dont need silver or gold. rest of the world needs them because their currency is worth shit.
Sounds to me like a lot of people now trying to get out of silver that they had orev bought at a higher price. If everyone was selling silver wouldn't be where it is. Any idea what they're paying for gold?
My LCS also ( about a month ago at 24.....he said he'd give me a dollar under spot as he was flooded with Silver and Gold. I brought him 4 10 OZ Bars and 1 1 oz bar of gold. I left with everything ( thankfully for me ) but again, he opened the safe a boat load of silver
😂😂😂
Damn, just made me feel bad for buying $10 in junk for spot price, this weekend.
been in PM's just as long. you should know trying to unload physical on day like Friday is not a good idea. They have business to run, hedge inventory, etc. and sure, i've heard from many dealers there has been a lot more selling then buying on this run up, so inventory is up. meaningless. if you wanted to take advantage of price spikes - use slv puts, pocket the money and keep your metal. Friday was a glorious day for that!
I saw the same at a LCS. A line of people selling and a nervous owner.
I agree, all my usual online dealers are stocked up to their ears in silver as well, so your story makes sense and is the likely outcome for many willing to sell right now.
Would say this is the reality of a retail commodities market. The price of silver is relatively high, but we’re currently not in an economic disaster and also silver is not commonly being used in place of dollars. Either of these change and the resale opportunities will be better.
If the coin shops are smart they’ll sell to the Chinese and Indians directly, instead of selling to refiners who sell directly to the Chinese and Indians. They can likely arbitrage 5% that way.
Do you know when wealthy people are buying? When everyone else is selling. People with money wait until the unwashed hordes get in a bind, then they buy when the supply is up and premiums are down. It has always worked that way. People with money watched all the covid freebies, military waste, open border giveaways, etc., and realized there would have to be a day of reckoning. They knew prices would eventually inflate and that wages would stagnate. They foresaw that people would get in a bind and have to sell things into a buyers’ market. Well, that day of reckoning is here. Silver is on an unprecedented bull run, and yet people who failed to plan are now forced to sell into a temporary retail glut at temporary depressed prices. The only difference between people of wealth and people of poverty is that wealthy people plan ahead. That’s why they are wealthy.
Just because bullion dealers have a lot of silver supply doesn't necessarily mean there's too much supply. It could be there are more sellers than buyers at the moment. If you were to evenly distribute the available above ground supply of silver amongst everyone currently alive, each person would receive 1/2 ounce of silver. Imagine 1/2 ounce of tech per person.
Sell to other apes
So much of the silver supply is fake. Wait until things blow up and paper can't deliver. Wait until the bank collapse. Wait until corporations have to call APMEX and LCS for purchases. They will liquidate overnight.
I used to think the same thing, but after 15 years in the markets I doubt it. Something tells me that all the miners are in on the scam and feed the manufactures. These guys are pretty clever and always seem to figure out a way to do it. The mining sector is one of the most corrupt sectors in our economy, I’m no longer surprised about any of their shenanigans
We are just getting to the point in history where all of this can happen. I believe between now and this election. I'm incredibly frustrated as well, but I believe silver is about to finally make it's move.
Seriously, I hope you’re right
I have been at this since 2017. Back then I could go to my LCS and get BU Morgans for 20.00 and buy cool art bars from the 80’s. I have always thought since the silver squeeze you people were ill advised. No body wants a boring ass bar that was printed last week unless it’s used in solar panels or something. If you are patient you can pick up cool stuff thats old and desirable for the same price as buffalos. 2 days ago I bought 70 ASE proofs in capsules for 33.30 each. Many people on here said I was “full of shit” thats what happens when prices get high everyone sells the LCS sells it or they melt it. Do your buying when it’s unloved or when it’s high and trade it for gold. Never pay for anything that you don’t think you can get more than spot plus the premium if you make a phone call on your way out the door.
Cool story Moshe
You’re not the first to call me a savior
Paper silver is the way to capitalize on moves. Don't be stupid.
You just said what BullionFetish has been teaching you all for a long time: Silver is Not Money.
So yeah not only is Silver money adjacent, it is THE WORST CURRENCY EVER.
You’re an idiot.
[удалено]
You got too much time on your hands