And So It Continues: Another 92 Thousand Ounces In Physical Silver Withdrawn From Comex Despite Historic Paper Collapse

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Thu, 05/05/2011 - 19:04 | 1245590 SunBlaster
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holding steady below $35

Thu, 05/05/2011 - 19:25 | 1245675 JW n FL
JW n FL's picture

The Paper Market is where? $35.. because the Tangible Market, the Land of Real Items, Changing Hands for Real Money.. is $42 - $60 depending on which dealer you would like to quote.. APMEX? MONEX?


So you show me real silver for $35 an oz and I will by however many million of dollars you can supply.

Thu, 05/05/2011 - 19:44 | 1245770 LRC Fan
LRC Fan's picture

You're wildly off base...APMEX has tons of 100oz bars for around $36/oz.  $42 is silly for anything except Maples/Eagles.  Generic rounds or bars or junk silver is selling way below $42/oz and they have plenty in stock. 

Thu, 05/05/2011 - 19:57 | 1245819 JW n FL
JW n FL's picture

I buy Monster Boxes and as of recently some of the different offerings.. but I buy bulk U.S. coins.


So I am sure you can buy junk silver and melt it down while watching fucking nascar in the garage, but that dont mean I fucking gonna do it... and as for the cheap prices for the rounds that JimBob poured on Gator Nationals Weekend! Yeah! I will pass..


So, the real deal.. U.S. Coins.. or even Maples or Libertados' (sorry wet backs for the spelling).. all from Mints are 16% as of yesterday and today disconnect (backwardation is far to polite for anything over fucking 10% - 15%) of 20%+..

$7.99 for whats on the shelf at APMEX.. over per coin / oz! on a $32 dollar oz?

32 divided by 8 ='s 4 so a 25% disconnect today for U.S. Coins in bulk.

Sure the sky is falling and then they pay $5.49 (ish) over... per coin... to buy them..

I will buy all the way down and even up some, you buy paper? or on the way up! good luck with that!

Thu, 05/05/2011 - 20:25 | 1245910 Kitler
Kitler's picture

Good plan.

90% silver content in small known weight denominations great for trading or hoarding with little premium. When the SHTF a dime will buy you a pack of Marlboros without the 'making change' problems encountered with 1 oz bullion.

Thu, 05/05/2011 - 20:38 | 1245948 Robot Traders Mom
Robot Traders Mom's picture

Why would I barter with silver when I can barter with aspirin, hotel shampoo, a pack of matches, and other shit that is basically free that people will need.

I hold silver and gold for wealth. I want to buy land and larger purchase items. I don't want to use silver to buy a pack of marlbs (I don't smoke but I have stockpiled those too).


Thu, 05/05/2011 - 23:09 | 1246264 johnnynaps
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If that shit hits the fan, silver will be worthless! I'll grow the funkiest of the funk and it will trade like MSFT in the 90's! Not much I will need to trade for though, so.........F##k my neighbors! I will literally laugh when the real shit-storm occurs. Call it, great planning!

Thu, 05/05/2011 - 23:35 | 1246306 serotonindumptruck
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I'm long on the kind bud.

Thu, 05/05/2011 - 23:54 | 1246350 dehdhed
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weed will get me through the days without money better than money will get me through the days without weed

Thu, 05/05/2011 - 23:41 | 1246321 shazbotz
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Thu, 05/05/2011 - 23:54 | 1246349 RockyRacoon
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Why would I barter with silver when I can barter with aspirin, hotel shampoo, a pack of matches, and other shit that is basically free that people will need.

As ugly as you are, you'd better have something tangible in reserve.  You ain't sellin' nothin' on the street corner.

Fri, 05/06/2011 - 01:09 | 1246463 carbonmutant
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Thu, 05/05/2011 - 20:55 | 1246000 traderjoe
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FYI, I bought a box of maples today at Tulving for $37/ounce or so. 

Thu, 05/05/2011 - 23:17 | 1246281 Hat Trick
Hat Trick's picture

1) You're clearly racist, but hopefully at least proud of your ignorance! (And prior to your slur, you mention "Nascar-watching JimBob". Hopefully he's got a seat on the couch for you too! Do you understand the word "irony"?)

2) I own all types of PM, but anyone who talks down 90% circulated is also of questionable intelligence IMO, at least when it comes to "owning silver"....

Fri, 05/06/2011 - 02:02 | 1246513 Lord Koos
Lord Koos's picture

Guys like you crack me up.  You endlessly dis the government but when it comes to silver, you will only accept rounds minted by the USA government?  A fool and his money...

Fri, 05/06/2011 - 03:48 | 1246587 jaffi
jaffi's picture

Actually, bullion from government mints are called coins, those by private dealers are called rounds.  Government coins tend to have a better reputability as compared to privately minted rounds in trade.  Why this is, I do not know.

Fri, 05/06/2011 - 04:46 | 1246625 MolotovCockhead
MolotovCockhead's picture

You're confused, does not mean a coin that is minted in USA is a US goverment coin. Far from it!. goverment comes and goes but USA remains. Loyalty to USA does not equate loyalty to the government, trusting US coins does not mean trusting US government. By the way, the US goverment is working for the private coporation in case you don't know.

Fri, 05/06/2011 - 07:48 | 1246724 Tater Salad
Tater Salad's picture


JW, you may want to look above, you're getting robbed.

Thu, 05/05/2011 - 22:01 | 1246164 Captain Benny
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Funny thing, the best bar I see is selling for $37.47 this evening.  You see, spot disconnected from physical a few months ago.  While they move almost in parallel now, that won't last long.  Silver remains in backwardation beyond belief and the physical market is dry as a desert stone.

Piss on that you ignorant turd.  The market is dead and this "long squeeze" is about to backfire beyond belief.  Here is what is going on: The CFTC has decided their game is over, but they've got to show that they're "competant regulators" so they are using the near vertical silver move as an excuse to raise margin.  Then using that as an excuse to say "volatility is high, we better raise margins [more]".  Eventually, when they feel that they've 'run out the longs' , they are going to finally institute a "nake position limit" rule.  Its coming, but it isn't today.  They've got to milk the market first.

People are claiming that the "technicals are damaged for months and we 'might not recover' till years end.  Sorry guys, the silver market is about to rebound faster than any of you realized.  COMEX is almost empty and the spot market was so heavily manipulated this month that that the major market players that are not fed backed decided to say "fuck you" to the fed.  The market is about to go cold-turkey on leverage at all levels.   Next week the S&P 500 will drop like a rock.  The fed's market play is over.

Don't get me wrong, volume will be high... and it will be biased in the upside thanks to HFTs.  But selling of _real_ material will overwhelm next week.

And like I've said before: The fed made their rounds this week.  They sent people to each and every major financial news agency out there in order to sway the article writing in their favor.  I have witnessed first hand these Federal Reserve puppets entering and exiting the companies where they went.

The game is coming to a quick close.  Go long physical materials while you can, the market is about to have the rules changed for new entrants.

I promise you this. -- Benny, closer than Wall Street is to the Fed.

Thu, 05/05/2011 - 23:26 | 1246291 johnnynaps
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I don't know man, the manipulation has been seen. One bad decision, and one can be crushed in days. There is a possibility that it takes Silver 2 years to get back to $50, psychologically speaking. If Silver rebounds within the month, I will be a believer. Until then, a realistic, pessimistic view will be cast into my brain that the manipulation is "that effective"! One man controls your destiny.

Thu, 05/05/2011 - 23:59 | 1246355 holdbuysell
holdbuysell's picture

Then watch the dollar.

Fri, 05/06/2011 - 04:58 | 1246631 MolotovCockhead
MolotovCockhead's picture

They try to scare off people like you. Haven't you notice that they are so desperate, they even tried the Bin Laden trick?  Be carefull of false flag operation in days to comes, those scums will do anything to sway public perception for their own benefit. Desperate time call for desperate measure and the Bin Laden stunt was definitely desperate.

Fri, 05/06/2011 - 06:53 | 1246677 BigJim
BigJim's picture

I'm long physical silver & gold, but I had a horrible thought this morning as I viewed my devastated paper portfolio:

What if the Morgue just floods the market (ie, comex) with millions upon millions of ounces of paper silver, and is on both sides of the trade, and drives the price down to (say) $20 an ounce? OK, buyers will demand physical, which the Morgue won't be able to provide, so they'll stump up cash instead, and a 25% premium, but what do they care if they've driven the price down 60%, and sold at an average of 30% higher?

Is this feasible?

PS - If your rebuttal includes some kind of reference to the CTFC, please provide some evidence they'd be more willing to do anything more now than they have over the last decade.

Fri, 05/06/2011 - 06:54 | 1246679 Titus
Titus's picture

Can anyone comment on the best value available right now for silver coins? Maples, bars, junk? I'm buying in $1k increments.

Fri, 05/06/2011 - 08:08 | 1246770 Manthong
Manthong's picture

From what I understand, Tulving probably offers as good a deal on bulk whatever but you need to be thinking of 500 oz. minimums. You can shave a few bucks here and there for smaller amounts but premiums change from dealer to dealer.

For small quantities and long time hedge, a few cents is not worth not sweating if you are happy with the service (buy, sell,, availability, phone support, responsiveness, web site etc).

I like Apmex and Kitco.

The best I've found for 100 oz bars one or two at a time is a local dealer. At $1.00/oz over spot he is 10 cents over the best price I've seen on the net for that small quantity, but he is local and a cash deal. Until Wal-Mart takes Ag, I want to keep him in business.

Thu, 05/05/2011 - 19:48 | 1245778 Hearst
Hearst's picture

Undoubtedly behind the massive vault door containing the remaining said 33 million ounces of Silver will give way to neatly stacked piles of SLV wrapped in tin foil with a big red bow on top.

Thu, 05/05/2011 - 20:20 | 1245890 Urban Redneck
Urban Redneck's picture

$34.33 (low today)

33,055,948 ozs ("registered inventory")

$1,134,810,694 Crimex takeover cost


Another 3.5% drop in the paper silver price from today's low and the capitalization required to execute the hostile takeover of the century falls to an even 1 billion...  

Thu, 05/05/2011 - 21:09 | 1246029 fuu
fuu's picture

CME's market cap is only 19 billion and change. 19 bil for NYMEX, COMEX, CME, CBOT, and hell why not toss in DJI.


We just need a World Buy Out fund to take the whole thing over and make it as transparent as we want. if everyone on the planet except the parasitic banksters/politicians kicks in $5 we are there.

Hell the servers have to be worth a few billion in scrap alone.

Fri, 05/06/2011 - 06:46 | 1246670 Pumpkin
Pumpkin's picture

China has that much change in the old couch out by the curb.

Thu, 05/05/2011 - 20:43 | 1245963 serotonindumptruck
serotonindumptruck's picture

"...neatly stacked piles of SLV wrapped in tin foil with a big red bow on top."

Is that sorta like putting a cherry on a fresh, steaming pile of dog shit and calling it a sundae?

Thu, 05/05/2011 - 19:52 | 1245796 FeralSerf
FeralSerf's picture

Get out your checkbook.  Tulving has 90% coins for $34.55 per oz of silver and he pays the shipping and insurance. He has over 75 bags (that's 53,625 oz) in stock ready to ship to you.  The copper and nickel is a freebie.  Eagles are $38.24 each incl. shipping.

Somehow this current reduction in comex supply of about $3 million doesn't seem that significant.

Thu, 05/05/2011 - 20:36 | 1245940 quasimodo
quasimodo's picture

Tulving suks azz.......hannes tells me he is way to busy and don't email again as to why my order is 6 weeks late. bullshit

Thu, 05/05/2011 - 20:57 | 1246004 traderjoe
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I've bought there several times with no problems...FWIW

Thu, 05/05/2011 - 20:48 | 1245974 goldfish1
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when's delivery?

Thu, 05/05/2011 - 20:56 | 1246002 FeralSerf
FeralSerf's picture

Ask him. Should be less than a week if you live in the U.S. and next day if LA.

Thu, 05/05/2011 - 20:59 | 1246003 FeralSerf
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Thu, 05/05/2011 - 23:16 | 1246274 JimS
JimS's picture

I bought 10oz @ $37.50 per (including the +$2 over spot) at 12:30 CDT this afternoon. My local dealer had numerous bars available.

Fri, 05/06/2011 - 07:12 | 1246646 GetZeeGold
GetZeeGold's picture


holding steady below $35


That's 3 trillion dollars.......shot straight to hell.




Thu, 05/05/2011 - 19:03 | 1245593 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Physical silver is being removed to stop it being stolen when this s**t shower collapses. Not hard to understand, perfectly logical.

Wonder how silver will be priced worldwide when coin stores stop using CRIMEX prices as they are fraudulent, any ideas?

Thu, 05/05/2011 - 19:25 | 1245677 Missing_Link
Missing_Link's picture

Removed by whom?

Stolen by whom?

Thu, 05/05/2011 - 19:28 | 1245706 cossack55
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three letters

Thu, 05/05/2011 - 22:54 | 1246243 mynhair
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Fri, 05/06/2011 - 07:50 | 1246730 mick_richfield
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Thu, 05/05/2011 - 19:30 | 1245711 FastBoat
FastBoat's picture

It's disconnected before and my local shop just used local supply and demand...  Of course that was pre internet days, but I kinda like the whole supply and demand thing in theory.

Thu, 05/05/2011 - 19:45 | 1245776 tmosley
tmosley's picture

Volume would simply move to one of the other exchanges, likely Hong Kong.

Thu, 05/05/2011 - 20:48 | 1245975 EscapeKey
EscapeKey's picture

No, it'd be Shanghai/Mumbai. Yet another reason why the frauds can't let the Comex default, imagine the loss of prestige if China were to take over physical commodities.

Buy fucking physical.

Thu, 05/05/2011 - 21:07 | 1246023 Hephasteus
Hephasteus's picture

Fucking mexico and africa produce the shit. MAKE them run it.

Thu, 05/05/2011 - 21:26 | 1246078 chindit13
chindit13's picture

Shanghai and Mumbai?  You will look back on the worst shananigans of COMEX as being "the good old days".

Thu, 05/05/2011 - 21:32 | 1246099 Rick64
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Thu, 05/05/2011 - 21:37 | 1246103 Bananamerican
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+ chutney

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