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To: Sic Luceat Lux

I wasn't paying attention back in the 80's - tho I remember getting a good price for silver dollars.

What I've been reading - at some point the party is over - the dealers do not want to buy any more, as they quickly become tapped out (cash wise) because prices are rising so quickly. The refiners are backed up with everyone's silverware, so they don't want anymore. Dealers end up paying less than spot, as they don't want to necessarily be "long" on something that may decline by the time they can unload it to the refiners. But, that was 1980. I doubt there is much silverware in the average family today.


163 posted on 04/17/2006 7:15:49 AM PDT by Freedom4US
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To: Freedom4US; Travis McGee; djf; TEEHEE; Centurion2000; All
What I've been reading - at some point the party is over - the dealers do not want to buy any more, as they quickly become tapped out (cash wise) because prices are rising so quickly.

Actually, the dealers did get a bit tapped out, but we did get our checks from the refineries on time and as usual. There were days a few days back once or twice I remember -when silver was going past $40 an ounce and on to $54-where I had lines out the door and down the sidewalk with folks wanting to buy and sell silver coins, bars, gold coins, silver flatware, platinum sheeting from steering columns of ships, all kinds of metal was being bought and sold back then.

The refiners are backed up with everyone's silverware, so they don't want anymore.

Actually no. The refiners now are very much into buying and refining. I was at one of my friends coin businesses just last week and with us being very close friends, I went with him back into his walk in vault. He had two pallets with about 80 silver bars/ he smelts the silver he buys and these 80 or so, 1000 oz bars of .999 silver - had already been confirmed out/sold to a refinery (since he had the price locked in, he had a day or so to get them shipped).

Dealers end up paying less than spot, as they don't want to necessarily be "long" on something that may decline by the time they can unload it to the refiners.

No, I'm sorry to differ with you again, but dealers don't worry about being long on silver or any metals. When I felt it was a good time to call my refiner back then, I simply made the call, confirmed out how many thousands of ounces of silver I wanted to ship - and that locked in the price. This is still exactly what goes on now, ie. the above dealer with his 80 or so 1000 oz bars that particular week. It was no big deal back in the early '80's and it's no big deal now. (I was paying out everything I had but I was in a unique situation; someone in my family was/is a medical doctor and floated me all the money I needed. Again, I was very lucky, but also, in those times, with silver spiraling up [the way it is now]-there was no concern about losing any monies.

Also, it was and is not the average joe on the street who buys/sells his silver that determines if silver is going to stop going up/or down.

But, that was 1980. I doubt there is much silverware in the average family today.

Again, not to worry, the coin dealers nationwide are I'm sure, selling lots of silver and will have no problem buying back silver bullion and U. S. gold Eagles, Canadian gold Mapleleafs; Mexican gold 50 pesos pieces, etc.

164 posted on 04/17/2006 9:46:02 AM PDT by Sic Luceat Lux
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