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Old March 22, 2020, 13:12   #1
Thorack
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Anybody selling Silver at spot prices??

Well,

Seems like the bottom fell out of the silver market. Anyone found a placing selling bullion at or near current spot prices??

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Old March 22, 2020, 14:50   #2
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We haven't hit bottom yet. At this stage ebay and craigslist scams are all that's left.
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Old March 22, 2020, 17:28   #3
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From my limited observation and nosiness, most online dealers I am aware of, are out of gold and silver except for premium collector stuff. When they do get some, it's gone fast. Put notifications on and be ready to jump if you want to buy.
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Old March 22, 2020, 17:30   #4
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I can't find anyone with stocks of physical silver. Now, isn't that odd being that the spot price is sooooooo low?

Paper pushed silver spot prices that low. Its a fantasy. No one is selling physical silver at those prices! In fact, my dealer doesn't have physical silver to sell! Now why is that if its really so cheap? The illusion boys are at it again and it ain't working this time. Eagles are still selling out for $22+.
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Old March 22, 2020, 17:32   #5
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Well,

At this point it might be worth all the hassle to buy a Silver contract and arrange for delivery with all its costs and headaches.

Thorack
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Old March 22, 2020, 17:58   #6
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I'd rather take out $10K in cash and put in the safe. Just in case.
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Old March 22, 2020, 19:47   #7
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Keep an eye out for them to ban cash as its contaminated...
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Old March 22, 2020, 21:45   #8
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I'd rather take out $10K in cash and put in the safe. Just in case.
Yeah I did that in addition to precious metals.


YMMV
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Old March 25, 2020, 04:34   #9
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Yeah, green backs can become worthless quickly if it all crashes. They say to only keep enough paper to turn quickly into supplies at the last minute. Probably not over $1,000.00. You need to turn extra cash into silver, ammo, firearms, tools, etc.
And I certainly hope know one keeps $10K+ in a savings institute! I keep about $5.00 in ea account and only deposit $ as needed to pay a bill. Assets can be frozen and laws have changed to where depositers are considered investors in the bank and will be the last to get paid if the bank defaults.
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Old March 25, 2020, 13:29   #10
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Very unlikely to buy at spot. The premiums are quite high now. The CEO of First Majestic Silver Mines refuses to sell below $18.50, about $5 or $6 above spot (Majestic sells bullion on their company site).

Most dealers don't have much on hand or are sold out. The US Mint isn't making Silver or Gold American Eagles right now (claim the virus is dangerous to employees). Any silver vendor have on hand was bought at much higher prices and they certainly are not going to take a loss. That's just business.

Used to be a time that some gold miners sold bullion to the public but I haven't seen that since South African miner Harmony Gold sold 10 tael bars online. Even some banks used to sell gold bullion to bank customers but haven't seen that since the 1980s.
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Old March 25, 2020, 13:36   #11
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The time to buy at low premiums is when the item is unloved, even shunned.

That time passed, at least for now, several weeks ago.
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Old March 25, 2020, 15:27   #12
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Land isn't a bad long term investment.
I bought 30 acres of timber around 1987 for $14,850. Rough ground (in farm country) was at a low back then. It is now worth about $75K. But I spent 3 yrs on & off to find a diamond in the rough. I caught a real estate agent/ investor who bought 160 acres to subdivide. I got there early and bought the best section w/a southern exposure hill top building site and the other 2/3 being bottom land w/ big timber, creek and a small pond.
There's enough 20"+ walnut, wild cherry and oak sawmill wood + misc fire wood to harvest that would triple what my initial investment was too. Several of the walnut trees are $1K ea.
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Old March 25, 2020, 16:27   #13
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Negative yields on U.S. Government debt instruments landed on our shores today.
US 1 month yields -0.028%
US 3 month yields -0.038%

History has been made here today and those that said negative rates couldn't come to America have been proven incorrect.

Who is bidding up these instruments on a risk on day?
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Old March 26, 2020, 23:32   #14
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Quote:
Originally Posted by Thorack View Post
Well,

Seems like the bottom fell out of the silver market. Anyone found a placing selling bullion at or near current spot prices??

Thorack
I'm gonna quote myself from June 2014 here on the Files:

Quote:
Originally Posted by brunop
I think I'm going to quote myself
Quote:
Originally Posted by brunop

I think gold is going down before it goes up. And then, I believe, it is going to decouple (paper and physical), and it will be literally unobtainium at that point.
I think it'll be available again, but this ^ is what's going to happen: it's going to go down (which it has been doing), and then it's going to be unavailable at any price because the "paper" contract price ('spot') is going to have nothing to do with the actual "real world" price.
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Old March 27, 2020, 07:20   #15
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This happened to physical silver 10 or so years ago but you could still buy silver shot. You can't even buy that now.
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Old March 27, 2020, 16:42   #16
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Silver is available, at about double the spot price.

Do you feel like you may have waited too long?

Get it while you can or wait and see what happens next.

https://www.apmex.com/product/5293/9...-roll-avg-circ
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"Fracking involves a two-phase combustion process: the first phase burns borrowed money to produce oil and gas; the second burns the oil and the gas." Dmitri Orlov
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Old March 27, 2020, 18:33   #17
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This happened to physical silver 10 or so years ago but you could still buy silver shot. You can't even buy that now.


https://www.jmbullion.com/500-oz-silver-shot/
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Old March 28, 2020, 05:04   #18
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Assets can be frozen and laws have changed to where depositers are considered investors in the bank and will be the last to get paid if the bank defaults.
When did that happen and does that also affect credit unions?

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Originally Posted by L/FN View Post
Land isn't a bad long term investment.
Just ask the Chinese, not only here but also in Africa.
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Old March 31, 2020, 23:21   #19
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When did that happen and does that also affect credit unions?



Just ask the Chinese, not only here but also in Africa.
Here is 1 site that discusses this issue. I heard about it on several radio shows back when it happened, but never researched it as I've never kept large funds in banks, savings, etc anyway.

https://www.wholesaledirectmetals.co...ave-the-banks/
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Old April 01, 2020, 05:19   #20
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At least it's available now. No way you were getting it under $13. The premium is still $700/500oz. I'm not sure if that's high but it seems like premiums for unprocessed silver should be lower. In a bad market you'll be lucky to get spot for it.
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Old April 21, 2020, 11:15   #21
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I saw rounds for 18.37 shipped (20 rounds & pay by check) on JM this morning so I popped for a few more.

I'd rather have some more silver in the safe than what could be green TP tomorrow, even if I had to pay a bit more.
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