With the current silver spot price around $12, precious metals businesses would be selling 1 oz rounds like this for about $15 each, but are likely setting limits on how many people can buy.
Posted on 03/19/2020 3:48:03 AM PDT by MeneMeneTekelUpharsin
People are selling gold and silver to meet margin calls. Also, nearly impossible to get physical delivery of silver under $20 an ounce.
It’s the problem in a world with 7 billion people. Every “sure thing” attracts a really big crowd.
Agree with this and the 7 billion thing.
Have a literal boat load of silver coins, bulk silver, and gold coins.......long been holding them as ‘when the sh*t hits the fan’ measure.
What I have been instructed is that 30:1 is more in line with what is actual available to mine. Why such a spread exists now, is beyond me.
1oz silver & gold American eagles are my thing. You can’t buy one today at any price. I’m not at all sure what that means when we come out of this, but it doesn’t matter to me as my stash is going to the kids when I depart, stage right :)
Industry relies on silver. If they allowed it to “seek it’s own” level the industries that need it would go under. I do believe everyone has known they manipulate the hell out of silver since the Hunt brothers got screwed. Still it makes more sense to carry a few ounces of silver if SHTF than a few ounces of gold.
So I’m not the only one who wants to give my grandkids a silver mine they can keep under their bed?
The debts, all of them, are going to be liquidated.
The issues are political, in Lenin’s immortal words, “Who? Whom?”
Yep yep, we thinking along the same lines cause other than the ‘oh, sh*t’ happening, was going to leave mine to my kids/grandchild. Take care.
For what’s worth, traders sell underlying assets or use cash to cover margin calls every day. This is a none story other than people didn’t cover their futures with the actual underlying asset. That’s unless they are trading gold or silver futures, then gold or silver would be the underlying.
Because the market isn’t open yet?
Yep, physical silver & gold seems, to me at least, a good way to get money to the kids/g’kids under Uncle Sam’s radar.
Brass, lead, and steel as well. All the metals.
“The ‘price’ of silver is about $13 an ounce but you cannot buy it at that price?”
I don’t claim to be an expert in high finance and metals trading, but I do know that if you have to pay $21.00 to acquire something, (not a piece paper claiming that you can buy it in the future or some other bulls*t) then the price of that thing sure as hell isn’t $13.00. It doesn’t matter whether it’s a hand sanitizer or an ounce of silver.
My screen name gives some indication as to what I think the best approach to hedging ones bets with precious metals is.
You can often get a fair deal but may have to pay high shipping costs.
There is a lot of silver stuff there but I’m not knowledgeable enough to buy anything but coins. And sometimes I goof that up.
With the current silver spot price around $12, precious metals businesses would be selling 1 oz rounds like this for about $15 each, but are likely setting limits on how many people can buy.
Bargain Hunters never give up.
I jumped out at 27K and won’t even Think about making a reentry until I hear 15K
Nah, nothing to do with it. Has bee 100:1 for over 5 years
“1oz silver & gold American eagles are my thing. You can’t buy one today at any price.”
Try eBay. I took a peek on Wednesday, and prices for an American silver eagle were in the $23-$25 range. Price doesn’t include shipping.
Thanks
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