Posted on 01/30/2021 10:05:16 PM PST by Technocrat
APMEX prices started rising by the minute two hours ago and they are now out of stock on all significant silver coins. Available rounds if you can find them are now priced at double to triple the spot price. A coordinated attack against JP Morgan and other silver market manipulators was proposed on Reddit on Friday. The link above goes to junk silver.
The action now appears to be spreading to Gold somewhat
I just got into the silver game last month as a way to hedge inflation and save money in a physical asset.
I wish I had started years ago.
This will be the third attempt to disrupt the silver market in my lifetime.
Good luck.
No, they are the straight silver eagles. What is left are the numeric coins. On the places I looked this morning there were no “random year” silver eagles, $100 bags of 90%, or any of the other more commonly traded bullion coins.
If you don’t own them today, don’t bother.
This should be short lived. (Famous last words.....)
The Troy ounce was because they couldn’t refine gold and silver that well. So an ounce of weight was 90% precious metal in content.
Modern Gold and silver are .9999% pure now.
ETH has been around 1300 lately. I remember when they were languishing around $4.
We won’t know what the actual prices are until the markets open later today. I am betting on a $3 jump to 30 or so.
Just saw this on GAB regarding the silver squeeze.
From: Incel Riot Studios @VirtueSignal6
https://media.gab.com/system/media_attachments/files/063/894/483/original/ab4b24951cda4537.jpeg
I keep trying to buy crypto but I just can’t bring myself to do it. Too old school I guess.
Typically there will be a pop at the open, commercials will watch how far that runs, and then start selling into it, locking down prices for future production, causing that pop to fade out.
Miners will sell their stock while it’s still in the ground—much the way farmers will sell wheat before its harvested. So that is not unusual.
I believe the “rumors” are regarding the SLV ETF. Your point the other day that they would have crashed in 2008 had that been the case is valid.
That said, the silver market is thin and competitive as long as the industrial side keeps buying. Silver is a bitch to mine and it is mostly a byproduct of other metals.
I’ve been buying silver and gold regularly since 2000. It’s been up. It’s been down. It’s still buried in the back yard.
I just enjoy a nice mania.
I have been buying from them at least once a month since 2012. They are wonderful to deal with.
It will take a week or so for their flow to change. They will buy buying all week and replenishing their inventory. They usually pay about $1.75 over spot. I’ve seen it get as high as $3.
This will be fun to watch.
I “thought” they added a cash settlement option. Or was that gold? I never traded futures, so I am working on ten year old memories.
It’s worth researching. I got into it many years ago. Small positions entered into for real small dollars are worth big dollars today.
I put $20 a week into Bitcoin for my granddaughter two years ago. If it goes away, it goes away. She’s not even 2 yet. But it keeps me “involved.” The same way I invest in Drips and research new investments. It’s a cheaper hobby than going to the casino.
The contract specs are all online if you're interested enough.
I will live vicariously through you! Lol.
True and higher prices all of a sudden make it economical to mine low grade ore or process ore from other metals. It also becomes profitable to recycle silver from items where is was not before. Fresh new supply hits the market, prices go down. Only the reddit kiddies on think the laws of supply and demand have been repealed and silver can go to $1000/oz.
And the SLV prospective states that if they can't get silver for the custodial account, they just stop trying to match on hand physical and the NAV to current silver prices. That's a FATAL FLAW in the reddit game plan.
Be careful going long D’Anconia Copper though.
Well Diana, do we sell some when it hits $50 an ounce? $60 an ounce? If we wait, it may fall to $20 an ounce again.
What to do . . . what to do . . . ?????
Ps. I did sell a tube ( 20 coins ) back in 2011, I think, when silver was $48 an ounce, to put a little “mad money” in my pocket. LOL - still got $250 of that in my wallet !
Snoot ;o)
I need a new (used!) truck so I’ll probably cash in some gold for that. I’m letting all my silver ride and am for sure keeping the junk silver for last, as it will still be usable as ‘money’ when we crash again.
That is, if we can keep our assets hidden from _resident Biden and his Chinese Overlords...which might get tricky. ;)
Well, on the silver, we’ll hold then !
Good luck with the new-used truck ( buy a Ford ) ;o)
Snoot
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