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Apmex Out Of Silver Eagles Until May 13

Tyler Durden's picture




 

With the US Mint forced to cut down dramatically on its Silver American Eagle sales, for some reason various timid elements considered the drop in monthly sales as indicative of a wane in investor interest (record prices aside). Perhaps the following note from Ampex: one of the otherwise "deepest" silver vendors in the market, may restore some balance to the (supply/demand) force.

And yes, for the vision and/or reading impaired, it says Apmex is now out of American Eagle silver coins for about two and a half weeks. But don't worry: it takes only $5/ounce to dig up the metal from the ground.

 

 

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Mon, 04/25/2011 - 13:03 | 1203993 slow_roast
slow_roast's picture

APMEX has the shittiest premiums but the best website.  It's like The Gap for metals buyers.

Mon, 04/25/2011 - 13:13 | 1204009 66Sexy
66Sexy's picture

It's the end of the world. APMEX never runs out of eagles.

Now there is no limit to what you can buy.... 10,000 eagles....  cash up front, of course!

Mon, 04/25/2011 - 13:42 | 1204226 Herd Redirectio...
Herd Redirection Committee's picture

Whats next, the MSM will admit JPM's silver short position?  The COMEX will admit they can't deliver?  Paper gold and silver markets disintegrate???

Check out the latest from the Capital Research Institute "Cracks Starting to Show?":

http://www.capitalresearchinstitute.org

Even though the Capital Research Institute was only officially founded 3 months ago, we have already started seeing various predictions come true.  Commodities inflating rapidly?  Check.  Lingering sovereign debt crises?  Check.  Gold and silver at, or approaching, record prices?  Check.  Another conclusion from our analyses was that the US dollar will inevitably lose world reserve currency status.

Others are not as convinced.  Michael Pettis, a Finance Professor, and writer for Financial Times (ft.com) recently argued that although the US should be prepared for a lesser role for the US dollar in the world of finance, fears of its demise are overblown.  Suffice to say, here at the CRI we strongly disagree with that assessment...

Mon, 04/25/2011 - 13:45 | 1204244 Michael
Michael's picture

There's no more physical silver on the store shelves to buy at any price.

Do your best to get your hands on physical silver at whatever price you can.

Mon, 04/25/2011 - 14:09 | 1204406 long juan silver
long juan silver's picture

They'll have to dig some more out of the ground won't they.

Mon, 04/25/2011 - 14:56 | 1204691 akak
akak's picture

.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... only $5 to dig it from the ground .....


.... must ..... eat ..... silver ...... owners' ...... brains .........

Mon, 04/25/2011 - 17:14 | 1205277 Tail Dogging The Wag
Tail Dogging The Wag's picture

$5.00 to dig an ounce out of the ground?

I hear Wal Mart now selling $4.99 paper tickets to have silver dug out of the ground, lmao

 

Mon, 04/25/2011 - 15:00 | 1204706 yabyum
yabyum's picture

Just got back from the coin guy, cashed is some ill gotten gains in paper:) (PSLV) and wanted to roll over in to the real deal. Out of bars! Out of any amount of generic rounds! Could have puchased higher premium product, but  low cost metal was my goal. Will get it in a couple of days, but a first just the same.

Mon, 04/25/2011 - 15:17 | 1204773 AnonymousAnarchist
AnonymousAnarchist's picture

Moriarty says...

The Hunt Brothers investing in silver drove silver to $50.25 an ounce for a few minutes on January 21, 1980. I think it would be fair to credit the silver boom of 2011 to Eric Sprott.

Mon, 04/25/2011 - 15:22 | 1204788 akak
akak's picture

That bitter old blowhard Moriarty can kiss my ass --- his bashing of silver lately smacks of desperation, frustration and envy, and almost reads like Jon Nadler's anti-gold bullshit in its laughable incoherence and ugly emotionalism.

Tue, 04/26/2011 - 13:44 | 1204826 GoinFawr
GoinFawr's picture

Does that mean that if I had paid attention to ol' BM's bearish stance amidst all the self promotion on March 8 2011 that I could hold him responsible for missing out on a 25% plus run?

I wonder how he reconciles that missed Opportunity with statements like, "Thanks to the silver cheerleaders, silver bulls lost $4.3 billion dollars..."?

Mon, 04/25/2011 - 18:23 | 1205524 AnonymousAnarchist
AnonymousAnarchist's picture

Also notice that while he talks about "making profit" he does not discuss the state of the currency in which those profits are denominated.

Mon, 04/25/2011 - 18:33 | 1205534 AnonymousAnarchist
AnonymousAnarchist's picture

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Mon, 04/25/2011 - 18:33 | 1205569 AnonymousAnarchist
AnonymousAnarchist's picture

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Mon, 04/25/2011 - 13:48 | 1204292 Hearst
Hearst's picture

What a sick joke the spot market is.  Eagles are selling for almost $60 per oz on Ebay and most dealers are rasing their premiums across the board. Meanwhile the spot price dives this morning.  These cocksuckers need to be taught a hard lesson.  A little lower and I'm pushing another $50K in.

Mon, 04/25/2011 - 13:56 | 1204334 66Sexy
66Sexy's picture

yes, spot is a dollar based fantasy.. just like the stock market. I can easily imagine lower prices and 0 supply.

just like the american credit based lifestyle. at some point, you have to deal with reality... usually this means some form of default.

The US has not had to deal with it., but the pressure is coming. Dollars coming home to roost.

more dollars freed up coming in from asia... where will they go?

 

Mon, 04/25/2011 - 14:00 | 1204353 tekhneek
tekhneek's picture

I wish I had 50K to put in...

Mon, 04/25/2011 - 14:14 | 1204434 JLee2027
JLee2027's picture

Me too!

Mon, 04/25/2011 - 14:29 | 1204548 Hearst
Hearst's picture

Lately family has been comming to me for bullion purchases.  I'm glad to get them into physical.  Glad and relieved.  And if they wanted to reward me with a token commission for helping them, well that would be between them and God. 

Mon, 04/25/2011 - 14:33 | 1204569 boricuadigm-shift
boricuadigm-shift's picture

5K here this morning! :-)

Mon, 04/25/2011 - 13:08 | 1204022 Nate H
Nate H's picture

Mon, 04/25/2011 - 13:10 | 1204024 Nate H
Nate H's picture

Mon, 04/25/2011 - 14:37 | 1204576 Hugh G Rection
Hugh G Rection's picture

I bought a couple rolls of 1993 American Eagles at www.currencyandcoin yesterday for $49/coin and free shipping.

 

Checked back in today and now all their Eagles are $59.

 

Hope you guys took my advice this weekend.

Mon, 04/25/2011 - 15:02 | 1204713 bangel
bangel's picture

I placed an order yesterday as well for some eagles and got an email from one of their managers this morning cancelling my order because they sold out.

Mon, 04/25/2011 - 15:42 | 1204852 RockyRacoon
RockyRacoon's picture

Here's another comparable source for you.  I've bought many coins from them over the last 2 years with not one problem:

http://shop.preciousgoldandsilvermetals.com/American-Silver-Coins_c11.htm

They sell on eBay as well and you might get better prices at auction.  Shipping is always free on eBay items and orders over $100 on the website orders.

Silver eagles at $56.50 in monster boxes.

The parent company is a brick-and-mortar jewelry store.

http://shop.ebay.com/aydinjewelry_preciousmetals/m.html?_nkw=&_armrs=1&_...

Mon, 04/25/2011 - 16:14 | 1205037 Max Hunter
Max Hunter's picture

auctions going on right now with 100oz (eagles) starting bid at 5,300 (or so)... not bad really since you can use paypal and have it by the end of the week..

I got about half my junk silver on ebay when it was 15/oz... The other half of junk silver I got for $10X face value when silver was 14..

Best deal for silver (when I was buying) was the 40% kennedys on ebay.. Was getting them for spot price.. back when it was 15/oz or less.. The good ole days...

Mon, 04/25/2011 - 19:05 | 1205632 Misstrial
Misstrial's picture

Hugh:

Love the site, thank you for sharing. 

~Misstrial

Mon, 04/25/2011 - 20:30 | 1206076 Hugh G Rection
Hugh G Rection's picture

Misstrial-

 

My pleasure.  Hopefully you were able to get some of the $49 eagles before they sold out.

 

Word of warning, I have had the mailman leave buillion on the doorstep when ordering from their site.

Mon, 04/25/2011 - 13:06 | 1203997 Forgiven
Forgiven's picture

Glad I loaded up on their 1921 Morgan brilliant uncirculateds this weekend.  Panic now, beat the rush!

Mon, 04/25/2011 - 13:49 | 1204275 duo
duo's picture

I got their last 3 rolls of 90% quarters, hopefully arriving today.

Mon, 04/25/2011 - 14:55 | 1204687 UncleFurker
UncleFurker's picture

Unless those were chinese counterfeits. Did you test them with a magnet?

 

Mon, 04/25/2011 - 13:15 | 1203999 TruthInSunshine
TruthInSunshine's picture

They just need to find some more of that "it takes $5 to dig it out of the ground" per ounce silver- problem solved.

 

Bitchez!

Mon, 04/25/2011 - 13:16 | 1204069 Stormdancer
Stormdancer's picture

Looks like you can buy premiums for five bucks ....gotta pay extra if you want metal with that.

Mon, 04/25/2011 - 13:52 | 1204321 Hephasteus
Hephasteus's picture

Shipping and handling fee.

When you get your ups tracker number. It just says your order is being dug out of the ground right now for a couple months. Then it says your order has arrived at the smelting foundry.

Mon, 04/25/2011 - 13:22 | 1204105 66Sexy
66Sexy's picture

I guess they dont count fuel related logistical costs.

 

Let alone the energy costs to dig the shit out of the ground.

Mon, 04/25/2011 - 14:15 | 1204448 Math Man
Math Man's picture

"Primary silver mine cash costs remained relatively flat year-on-year, falling by less than 1 percent to $5.27/oz. from a revised $5.29/oz."

http://www.silverinstitute.org/supply_demand.php

And by the way... only 487mm of industrial demand last year, with over 1,000mm onces of supply.  All the price action is being driven by speculative idiots who think the dollar is devaluing --- when in fact the DXY is right where it was 3 years ago while silver has gone up 5x.

All you fucking morons on ZH complain that QE2 is causing an oil/wheat/corn bubble, but keep chiming that silver is a different.  It's in a bubble just like the rest of the commodity markets - only WORSE - can you say 75% since the end of January and more than a double since September?  Have fun when it is back below $20 later this summer.

Mon, 04/25/2011 - 15:11 | 1204745 akak
akak's picture

You've already been so conclusively, decisively, thoroughly, devastatingly discredited in this forum that one has to wonder just how much you continue being paid to post your rabid nonsense here.  I already demonstrated to you that annual silver industrial demand is close to 85% of annual silver mine supply, yet you keep spouting irrelevant and misleading figures in the attempt to poormouth silver and disingenuously talk it down in true Nadleresque fashion.  You have gone far beyond contemptible and into the purely laughable.

Mon, 04/25/2011 - 15:39 | 1204862 Math Man
Math Man's picture

I'm sorry, but did you read the fucking link? 

2010 Industrial Applications were only 46% of 2010 supply.

 

 

Mon, 04/25/2011 - 15:56 | 1204906 akak
akak's picture

Asswipe, you willfully obfuscate and attempt to cloud a situation that is actually crystal clear.  Take your PM-bashing trolling and shove it up your pathetic troll ass.  You purposely understate total annual industrial applications, and then you disingenuously overstate annual supply by mixing in scrap silver.

Fact: Annual industrial demand for silver is 82-85% of annual mine production.

 

It must really suck to be you: a pathetic PM-bashing troll AND a mindless zombie.

.... only $5 to dig it from the ground .....


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.... must ..... eat ..... silver ...... owners' ...... brains .........

Mon, 04/25/2011 - 16:12 | 1205022 Math Man
Math Man's picture

WHAT THE FUCK ARE YOU TALKING ABOUT?

 

Industrial applications:  487.4 mm ounces  ---  it doesn't get any clearer than 'Industrial Applications' as a line item. 

Total supply:  1,056 mm ounces  --- that is the total supply of silver in 2010. 

487.4/1056.8 = 46.1%

Even if I divide industrial appliactions by mine supply (excluding scrap, etc), it is still only 66%.

You fucking bubble chasing ass clowns will say anything to justify your postition.  Fact of the matter is that Silver is a fucking bubble.

And it is about to burst.  Have fun back at $20.

Mon, 04/25/2011 - 16:20 | 1205053 akak
akak's picture

.... only $5 to dig it from the ground .....

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.... must ..... eat ..... silver ...... owners' ...... brains .........

Mon, 04/25/2011 - 16:44 | 1205148 Math Man
Math Man's picture

And that is exactly why this POS will crash...  supply will continue to increase, even at lower silver prices.

Nearly 100mm ounces of production were added at silver prices below $15 during last 10 years...  even more will be added at these levels.

Meanwhile, Industrial Appliactions are only 487mm ounces a year -- 46% of supply (66% of mine production), meaning that you asswipes are going to have to find more and more speculative bubble money to keep the price up.  Good luck with that.

 

Mon, 04/25/2011 - 16:49 | 1205186 akak
akak's picture

.... only $5 to dig it from the ground .....

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.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground ....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground ....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground ....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... only $5 to dig it from the ground .....

.... must ..... eat ..... silver ...... owners' ...... brains .........

Mon, 04/25/2011 - 17:55 | 1205434 Uncle Remus
Uncle Remus's picture

Wait - like the silver we augered into the ground in Libya and likely elswhere in MENA?

Mon, 04/25/2011 - 18:22 | 1205523 OldTrooper
OldTrooper's picture

Just like that, except not mixed in with depleted uranium.

Mon, 04/25/2011 - 16:55 | 1205220 tmosley
tmosley's picture

Hey retard--you do know that the vast majority of silver is not produced by silver miners, right?  Thus, extremely low or negative cost basis silver is purely a by-product of high base metal prices, right?

If silver production increases, those costs EXPLODE.

But then, you wouldn't understand that because you are so stupid that you are still applying the same thought processes that told you that $34 was "definitely" the top in silver.

4 trading days until June, bitch.  Sure doesn't look like anything close to $20 to me.

Mon, 04/25/2011 - 16:54 | 1205208 firefighter302
firefighter302's picture

I guess you didn't grab a few monster boxes at half price a few months back, eh?

 

Mon, 04/25/2011 - 13:24 | 1204120 tmosley
tmosley's picture

Uhhh, the moron who called a top at $34 is calling people who never said what he claims they said (no-one here EVER called wheat or corn "bubbles") morons?

Sorry, dumbshit, but your non-existent credibility is now astronomically negative.

Mon, 04/25/2011 - 13:31 | 1204147 Math Man
Math Man's picture

I don't need credibility, I have a shit load of July 40 puts on SLV instead. 

Mon, 04/25/2011 - 13:32 | 1204176 homersimpson
homersimpson's picture

Of course you don't need credibility here. You need a 3rd mortgage instead to cover all your losses the past 7 months.. or a bigger garbage bag to pick up all the s**t you've been dropping here on ZH.

Mon, 04/25/2011 - 13:36 | 1204191 tmosley
tmosley's picture

lol, nice comeback.  It's funny because its true.

Mon, 04/25/2011 - 14:02 | 1204363 Max Hunter
Max Hunter's picture

No doubt.. Mathman sounds like a man about to get a margin call.. LMAO

Disbelief and Anger stages hitting right on schedule.. n

Mon, 04/25/2011 - 13:37 | 1204198 Temporis
Temporis's picture

+5

Mon, 04/25/2011 - 13:41 | 1204235 Math Man
Math Man's picture

You guys are playing with fucking fire here.  Both volatility and volume are through the roof on SLV right now...

The crash is right around the corner.

You're all just too fucking blind to see it. 

140mm shares already today...  SLV is now officially in the hands of fast money.  When it starts to break, there will be no support.

 

Mon, 04/25/2011 - 13:47 | 1204255 NidStyles
NidStyles's picture

So are you going to take delivery on that SLV? I own it too, but I'm dumb enough to believe there's actually anything backing it.

Mon, 04/25/2011 - 13:59 | 1204349 Math Man
Math Man's picture

Arbing the SLV creation/redemption mechanism is going to cause of shit load of silver to hit the market on the way down. 

All the Silver in SLV is allocated and real.  It can get arbed out of the trust even faster than it was arbed in...  watch out.

 

 

 

 

Mon, 04/25/2011 - 14:03 | 1204365 NidStyles
NidStyles's picture

Prove it. You never answered the question either.

Mon, 04/25/2011 - 14:10 | 1204407 Math Man
Math Man's picture

Why would I take delivery?  I am long puts. 

Any holder of 50k shares of SLV can have and Authorized Participant do it for them.  The silver is allocated and real... and it can come out of the trust even faster than it went in.

 

 

Mon, 04/25/2011 - 15:04 | 1204720 Saucy-Jack
Saucy-Jack's picture

Silver delivery from the trust is actually bullish for silver as it means that paper silver is not trusted and physical silver is demanded. It is the fraudulant paper markets that are holding down the price of silver and once silver is only available in physical form and not paper form, it is to the moon. So I hope silver is arbed out of the SLV.

Mon, 04/25/2011 - 15:54 | 1204913 Math Man
Math Man's picture

Every single share of SLV is backed by physical silver.   The arb-in (share creation) creates additional demand.  The arb-out (share redemption) creates supply.  

Demand = good for price

Supply = bad for price

Over $1bn worth of silver has been arbed in to the SLV trust since the 75% run began at the end of January - and caused a huge fucking run.  On the way down, the amount of silver arbed out of the trust will be mind-blowing... as will the increase in supply.  And at the same time, the demand will be falling like a rock (SLV no longer buying).  Look fucking out below. 

Mon, 04/25/2011 - 15:57 | 1204938 akak
akak's picture

God, you are such a mindless bankster shill and a liar.

Mon, 04/25/2011 - 18:00 | 1205442 Uncle Remus
Uncle Remus's picture

Every single share of SLV is backed by physical silver.

Great. You owe me a new needle for my bullshit meter.

Mon, 04/25/2011 - 14:02 | 1204369 NidStyles
NidStyles's picture

Prove it. You never answered the question either.

Mon, 04/25/2011 - 14:04 | 1204387 tmosley
tmosley's picture

You know there's a kind of sick desperation in the tone of your posts?

You have much fear, child.  Justifiably so, as you are about to be bankrupted by your misplaced trust in the paper of known confidence men.

Mon, 04/25/2011 - 14:18 | 1204468 long juan silver
long juan silver's picture

AGQ is kicking your ass esp. since you were late to silver. Silver up 143% in the time gold yp 26%-(WSJ). You suck at investing.

Mon, 04/25/2011 - 15:12 | 1204747 tmosley
tmosley's picture

"Late"?

What are you, fucking retarded?

Mon, 04/25/2011 - 14:53 | 1204667 akak
akak's picture

Hey MothMan, I wonder if in the midst of your rabid silver-bashing trolling you happened to notice that Tyler specifically addressed YOU in the original post?

And yes, for the vision and/or reading impaired, it says Apmex is now out of American Eagle silver coins for about two and a half weeks. But don't worry: it takes only $5/ounce to dig up the metal from the ground.

LOL!

Mon, 04/25/2011 - 13:48 | 1204263 Piranhanoia
Piranhanoia's picture

Paper tiger eats ink but cannot read.  (Confuseacat)

Mon, 04/25/2011 - 13:54 | 1204315 Michael
Michael's picture

It's rally very simple MM. Printing tens of trillions of US dollars out of thin air means the currency is going to lose value. Most people get the concept and actually believe that. A symptom of the ever increasing volume of dollars is store shelves being emptied of scarce items like silver.

There's no more physical silver on the store shelves to buy at any price.

Do your best to get your hands on physical silver at whatever price you can.

Mon, 04/25/2011 - 14:11 | 1204430 long juan silver
long juan silver's picture

Printing tens of trillions of US dollars out of thin air- You

 

"What can be asserted without evidence can be dismissed without evidence"-C  Hitchens

 

 

Mon, 04/25/2011 - 14:46 | 1204625 GoinFawr
GoinFawr's picture

I agree with you, the USD (indeed ALL fiats) are backed by nothing, not even `thin air`.

Well, `hot air`, maybe... but I think the supply/demand ratio has that one in a bear market too, no?

What more 'evidence' do you require?

Mon, 04/25/2011 - 14:42 | 1204615 kito
kito's picture

propaganda works both ways fellas. there is silver to be had. you can lock in a price for as much as your heart desires with gainsvillecoins, nwmint, and others. its not as if they are not taking orders. 

Mon, 04/25/2011 - 13:56 | 1204347 RafterManFMJ
RafterManFMJ's picture

Do.Not.Care. I'm done with this Ponzi (although the Ponzi may not be done with me)... I'll hold real money from now on, thanks you verdy much.

Mon, 04/25/2011 - 15:54 | 1204937 traderjoe
traderjoe's picture

+1

Mon, 04/25/2011 - 14:05 | 1204395 Max Hunter
Max Hunter's picture

You guys are playing with fucking fire here. 

You seem genuinely concerned MM.. We all appreciate you prudent and selfless advice and it WILL be taken into consideration..   /sarc/

Mon, 04/25/2011 - 14:11 | 1204419 kito
kito's picture

ive got some tea leaves for you to read.....maybe you could have better luck with that

Mon, 04/25/2011 - 15:16 | 1204749 falak pema
falak pema's picture

Marilyn Monroe reading tea leaves...that takes some math to understand.

Mon, 04/25/2011 - 14:12 | 1204442 kito
kito's picture

ive got some tea leaves for you to read.....maybe you could have better luck with that

Mon, 04/25/2011 - 14:12 | 1204443 kito
kito's picture

ive got some tea leaves for you to read.....maybe you could have better luck with that

Mon, 04/25/2011 - 14:12 | 1204444 kito
kito's picture

ive got some tea leaves for you to read.....maybe you could have better luck with that

Mon, 04/25/2011 - 14:15 | 1204445 kito
kito's picture

ive got some tea leaves for you to read.....maybe you could have better luck with that

Mon, 04/25/2011 - 13:37 | 1204195 Dreadker
Dreadker's picture

I think that's what Ben Bernanke is going to say in his press conference on the 27th lol... except it will read:

"I don't need credibility, I have a shit load of printing presses instead!"

 

Mon, 04/25/2011 - 14:29 | 1204546 JLee2027
JLee2027's picture

"And if you know a way to turn paper into real Silver, I'll take that too."

Mon, 04/25/2011 - 13:35 | 1204200 TruthInSunshine
TruthInSunshine's picture

Good luck smacking your head on precious metal floors all the way up, Meth Head.

It's as unpleasant as catching falling knives.

Mon, 04/25/2011 - 14:58 | 1204699 bothsidesnow
bothsidesnow's picture

Interesting you said reverse repo was a possibility given the state of ban reserves last night. 

Mon, 04/25/2011 - 17:54 | 1205432 TruthInSunshine
TruthInSunshine's picture

I think it is.

But I'm going with the flow until I see it slow or stop.

ZIRP will still be with us after QE ultimately materially slows or dies, and ZIRP is where The Bernank's dirty money is really buried.

Mon, 04/25/2011 - 13:37 | 1204214 Korrath
Korrath's picture

Well, I've got a great deal for you then...go dig it out of the ground and I'll pay you $25 per oz. come July; that's $5 above your $20 price target so that you can cover the cost of extraction and still make a profit.  We'll place the order for 500 oz.  Deal?

Mon, 04/25/2011 - 14:16 | 1204453 GoinFawr
GoinFawr's picture

Effing awesome! Count me in for 1k oz!

Mon, 04/25/2011 - 15:46 | 1204882 RockyRacoon
RockyRacoon's picture

Even better, it only costs the Treasury 4 cents to print a Federal Reserve Note.

And, here's the good part:  YOU CAN PUT ANY DENOMINATION YOU WANT ON THE NOTE!

Mon, 04/25/2011 - 13:38 | 1204220 Ahmeexnal
Ahmeexnal's picture

No, you don't need credibility.  You need pity.  Lots of it.

Mon, 04/25/2011 - 13:43 | 1204230 SuperRay
SuperRay's picture

dude, why don't you list the puts you've already placed on SLV over the past six months, since you talk your book.  Show us what a savvy trader you are....

Mon, 04/25/2011 - 13:46 | 1204253 Burnbright
Burnbright's picture

lol a few weeks ago you claimed it was $20 puts. You are so full of shit.

Mon, 04/25/2011 - 13:54 | 1204304 Math Man
Math Man's picture

Reloaded my April 20s with July 40s... also, 35s, 32s, 26s and 20s.

This is going to be really fucking fun.

Mon, 04/25/2011 - 13:58 | 1204338 goldfreak
goldfreak's picture

but you told us not to buy at 30 because you were looking out for the little guy ha ha ha ha

Mon, 04/25/2011 - 14:28 | 1204528 trav7777
trav7777's picture

you were in April 20s?  And you "rolled them"?

So you mean you took the $0.0 they were worth and did what exactly?

Mon, 04/25/2011 - 14:52 | 1204663 Math Man
Math Man's picture

"Reloaded my April 20s with July 40s... also, 35s, 32s, 26s and 20s."

 

Can you fucking read?  I reloaded...  i.e., I bought new ones.   Did I say I rolled, fucknut?

The first ones expired, so I bought new ones at higher strikes...  putting a small percentage of your portfolio in SLV puts is an amazing trade...  limited downside, and HUGE upside.   I'm happy to bleed away a little premium here and there before I kill the elephant.

Mon, 04/25/2011 - 15:12 | 1204754 tmosley
tmosley's picture

In other words, you cast good money after bad, like a fucking tenderfoot.

I suppose every grinder needs meat from somewhere.  I'm glad you have selflessly volunteered yourself.

Mon, 04/25/2011 - 15:39 | 1204857 Stares straight...
Stares straight ahead's picture

I "rolled" the silver fifty cent pieces I pulled out of circulation 3 years ago...

Mon, 04/25/2011 - 22:00 | 1206323 TruthInSunshine
TruthInSunshine's picture

MethHead is apparently rolling many blunts.

Mon, 04/25/2011 - 14:47 | 1204636 Hugh G Rection
Hugh G Rection's picture

Good luck with your puts, putz.

 

I think your just despondent after getting demoted from Jamie Dimon fluffer to JPM troller... too many trips to krispy kream?

Mon, 04/25/2011 - 15:01 | 1204638 Hugh G Rection
Hugh G Rection's picture

MethMan the glory years...

http://en.wikipedia.org/wiki/Fluffer

Mon, 04/25/2011 - 14:52 | 1204640 Hugh G Rection
Hugh G Rection's picture

...

Tue, 04/26/2011 - 02:15 | 1206788 D1eeeeeNAHHHHH
D1eeeeeNAHHHHH's picture

At what cost $1600 for the 40s? $1200 for the 35s?  $1000 for the 32s?  $250 for the 26s? $100 for the 20s?

Would you be betting just under $5000 to enter those positions? 

That's:

1.  Pennies

2.  Against the averages as more often than not out of the money calls expire worthless.

3.  Fighting silver shortages?  From what I see, less and less people are selling now.

4.  QEx chasing a finite number of silver ounces.

5.  American debt dumping from the Chinesse and S&Ps downgrade of it.

Your probably a government, Chase or HSBC agent as you pretend not to see the obvious.

Mon, 04/25/2011 - 14:44 | 1204629 Astute Investor
Astute Investor's picture

Qu'est-ce que c'est "shitload".....? Will the proceeds from the put transaction expedite you into a carefree retirement or simply buy a ham sandwich?

Mon, 04/25/2011 - 18:49 | 1205575 Hugh_Jorgan
Hugh_Jorgan's picture

So then why don't you come back and gloat when you've made your fortune on SLV.

Until, then go find some pinheads on MSNBC to convince that your incomplete version of reality is  worth listening to.

Buh-bye!

Mon, 04/25/2011 - 13:35 | 1204144 Temporis
Temporis's picture

Math Man you have just been owned by Tyler.

Take that 5 dollar shovel your using to dig silver and shove it up your ass.

 

Mon, 04/25/2011 - 13:57 | 1204351 goldfreak
goldfreak's picture

HA HA HA

Mon, 04/25/2011 - 17:37 | 1205377 malek
malek's picture

Oh, now I get what Tyler's last line was referring to. Must have missed some previous thread fights.

Thumbs up!

Mon, 04/25/2011 - 13:30 | 1204154 wolfsonite
wolfsonite's picture

Ahhh, the Dollar is where it was 3 years ago and only the price of commodities has changed ... brilliant analysis

You know what, I actually thought about providing a longer reply, but then I realized that it would most surely be utterly wasted on an angry dimwit like you ...

Mon, 04/25/2011 - 13:30 | 1204162 homersimpson
homersimpson's picture

Math man = I'm not as polite as the other "morons" this site, but you're just a f**kin idiot. Shut yer trap and eat your silver shorts you HarryWanger wannabe.

Mon, 04/25/2011 - 13:35 | 1204199 Robot Traders Mom
Robot Traders Mom's picture

Oh, hey dipshit!

I hope it does drop to $20 so I can buy more because long-term, the dollar will keep getting devalued.

Also, there is other demand outside of industrial demand.

Fucktard.

Mon, 04/25/2011 - 13:43 | 1204229 Exposer of Inte...
Exposer of Internet Shills's picture

Below 20????

 

Oh, one can only wish.  This is why I keep a HELOC open, just in the extemely unlikely case the shills are correct... alas, it won't happen though

Mon, 04/25/2011 - 14:00 | 1204357 AG BCN
AG BCN's picture

sittin n wait'n, would love to see sub 20 again, if he is right I win, if he is wrong, I win.

Mon, 04/25/2011 - 13:47 | 1204245 Robslob
Robslob's picture

MathMan

I will try not to insult you but suffice to say: Silver is not going up in price rather the amount of silver you can buy with dollars is going down.

Once you pull your head out of the Dollar index and understand the index price just told you want you need to know...Dollar unchanged; Silver doubled.

Mon, 04/25/2011 - 13:45 | 1204259 riley martini
riley martini's picture

 It must sucks to be on the wrong side of the silver trade. Keep buying those put that will show those damn silver bulls .

Mon, 04/25/2011 - 15:23 | 1204603 Hugh G Rection
Hugh G Rection's picture

...

Mon, 04/25/2011 - 15:21 | 1204791 Nels
Nels's picture

And it only costs $13/bbl to pump oil in Saudi Arabia.  What does that have to do with the price of gasoline in the USA?

The question is not how much it costs to dig up silver in the current mines, but how much it costs to find the next mine.

Mon, 04/25/2011 - 16:43 | 1205160 T1000
T1000's picture

It's not a question of cost. It's a question of demand. 

Mon, 04/25/2011 - 15:29 | 1204814 Charlie Bravo
Charlie Bravo's picture

Have fun eating your words this summer.

Fucking idiot.

Charlie Bravo

Mon, 04/25/2011 - 13:22 | 1204109 Arttrader
Arttrader's picture

If they "found" more, do you think they would just freely dump their production on the market?  Mined as a byproduct or from a dedicated silver mine, no one is going to pretend, OPEC style, to increase supply out of their altruistic hearts for all the silver-starved masses.  Miners could be sitting on a pretty good stash of it and keeping prices up with a trickle of supply. Or they know it's looking frothy and not the best inflation hedge and truly are doing what they can to unload ASAP - why do they keep taking your FRN's for it anyway?  And you better believe we're looking at the great silver melt 2.0.  It won't be pre-64 coins either.  It's granny's tea set and hood-rich necklaces.

Mon, 04/25/2011 - 13:08 | 1204000 Cognitive Dissonance
Cognitive Dissonance's picture

And yes, for the vision impaires, it says Apmex is now out of American Eagle silver coins for about two and a half weeks. But don't worry: it takes only $5/ounce to dig up the metal from the ground.

Too funny. Now we just need MethMan for the "Amen" response. I expect the trolls will reappear now that a correction is shaking out the weak hands.

Mon, 04/25/2011 - 13:09 | 1204011 tmosley
tmosley's picture

They are back with all new names.

I can't really be bothered to learn them anymore.

Mon, 04/25/2011 - 13:39 | 1204216 Cognitive Dissonance
Cognitive Dissonance's picture

And just like that Meth Man shows up. I think he/she/it likes you tmosley. You must have used your Alaskan moose call. :>)

Mon, 04/25/2011 - 14:06 | 1204400 tmosley
tmosley's picture

I do tend to attract homosexual masochists for some reason.

Mon, 04/25/2011 - 14:28 | 1204541 trav7777
trav7777's picture

it's bc you give off a really gay vibe they are drawn to.

Mon, 04/25/2011 - 15:14 | 1204762 tmosley
tmosley's picture

More likely because of my immense (relative to them, at least) wealth and willingness to berate them.

Mon, 04/25/2011 - 13:22 | 1204094 Dr. Richard Head
Dr. Richard Head's picture

I pray for the correction.  If Turd be right in what he writes, then the correction would offer me a buying opportunity that would allow me an extra twenty ounces on 10K Federal Reserve Fiat Fucks I am looking to trade.

Mon, 04/25/2011 - 13:50 | 1204302 riley martini
riley martini's picture

 Wait for CME margin hike . Last hike you had to act quick it was only a flash crash.

Mon, 04/25/2011 - 13:55 | 1204324 Dr. Richard Head
Dr. Richard Head's picture

I know.  Back in my day margin hikes meant a week or two prolonged correction. You kids and your new gobbildy gook.

Mon, 04/25/2011 - 14:50 | 1204642 Cognitive Dissonance
Cognitive Dissonance's picture

Time compression. Corrections and erections don't last as long. Actually the second item might be a local issue.

Dr. Head, I have this ......um.......problem. Can you give me a script for some Viagra? The market doesn't need any because it has the Fed. :>)

Mon, 04/25/2011 - 15:09 | 1204742 Dr. Richard Head
Dr. Richard Head's picture

Lulz.

The market has had priapism for some time now and medical attention should have been sought in 2008 (aka liquidation of malinvestment).  Priapism can cause damage to the blood vessels (aka markets) and may result in impaired erectile function and impotence (shooting blanks or stated differently, printing money).

Basically, the Bernanke has been marveling at his purple helmet in awe.  He has been stroking it vigorously hopping for the liquidity to be released into his ideal bubble (asian condoms I believe), but all he has done is help damage the vessels further.  Ben Bernanke has let his priapism result in the worst possible outcome, impotence of the central banks. 

What a bad plot line for some really gay porn.  

Mon, 04/25/2011 - 15:35 | 1204830 Cognitive Dissonance
Cognitive Dissonance's picture

Not only did you take my Viagra ball and run with it but you have (or as you pointed out, Bernanke has) been playing with it as well. But the analogy works so well on multiple levels that it should be include in all Medical and Economic textbooks at the next revision. 

Mon, 04/25/2011 - 15:51 | 1204915 RockyRacoon
RockyRacoon's picture

Knock it off.  You guys are just taunting an old coon.

Mon, 04/25/2011 - 16:23 | 1205065 Cognitive Dissonance
Cognitive Dissonance's picture

He started it, not me. Well....actually I started but then failed to......you know. :>)

On another note when I was a young man we used to call the fairer sex 'coon'. Or was that poon?

Never mind. I think I'm a little confused.

Mon, 04/25/2011 - 16:35 | 1205121 RockyRacoon
RockyRacoon's picture

The unabbreviated version was poontang.

Mon, 04/25/2011 - 15:56 | 1204933 Dr. Richard Head
Dr. Richard Head's picture

From this day foward, let it be said that QE will be forever known as Viagara in the ZH community.  This is your doctor talking.

Quite frankly, I am surprised we have not seen an article comparing and contrasting our economy to Viagara with the Bernanke as the doctor. 

If I had any writing ability I would be right on it.  Sadly, I will just rant on the blogoshpere and take my grammar and spelling errors and launch them out here.

Mon, 04/25/2011 - 20:57 | 1206157 Hulk
Hulk's picture

No need for concern, priapism can be licked!

Mon, 04/25/2011 - 13:07 | 1204002 digalert
digalert's picture

I made another silver eagle order from my usual dealer, Gainesville coins. Shipping date May 27th.

Mon, 04/25/2011 - 13:07 | 1204013 Lotionboy
Lotionboy's picture

I use them too...find they are very competitive and very reliable

Mon, 04/25/2011 - 17:31 | 1205348 krispkritter
krispkritter's picture

Gainesville? It's in Lutz? That's good though, closer to me. I have to take a stroll throught their showroom soon...

Mon, 04/25/2011 - 13:09 | 1204014 lieutenantjohnchard
lieutenantjohnchard's picture

by all means fellow altruistic zh posters please chime in and tell us to sell, sell, sell since shortage is a clear sign the end is nigh.

Mon, 04/25/2011 - 13:10 | 1204019 MGA_1
MGA_1's picture

There's plenty of silver out there !! Well, maybe not above ground yet.

Mon, 04/25/2011 - 13:12 | 1204035 slaughterer
slaughterer's picture

Bid deal, the sheeple can pay $4.99 over spot, wait 2 1/2 weeks, and watch silver drop $8/oz while they are waiting for their silver American eagle to come in the post.   This type of scam is a perfect contrarian indicator.  Thanks ZH for giving more food to the shorts.  Or are we going to hope that the Asian investors will buy the dip overnight and take silver above $50/oz for US traders tomorrow?  I think more than one would get fired by their floor trading boss if they did that tonight, and repeated last weekend's mistake.  They must have been drunk when they were trading on Sunday in Hong Kong.  

Mon, 04/25/2011 - 13:18 | 1204066 lieutenantjohnchard
lieutenantjohnchard's picture

my hunch is if the miniscule number of sheeple as you call them were not buying silver, and only the big institutions were doing it, you would be complaining that the same sheeple you now deride for buying silver were too stupid to see that the fed was devaluing the currency, and the sheeple were too stupid to buy like the wise endowments etc .... it must be good to be wise and wealthy like you.

Mon, 04/25/2011 - 13:26 | 1204113 Ckashan
Ckashan's picture

+1

Mon, 04/25/2011 - 13:31 | 1204118 Dr. Richard Head
Dr. Richard Head's picture

Exactly.  Not ONE of me neighbors has executed a purchase of ANY silver or gold, even in the paper form.  How do I know?  Well they tell me about how I was right on by the $50 silver by May call announced by me to them(Thanks to Tyler, Max Keiser, and Turd), yet they say it is in a bubble.  Guess what?  Those people are still dumping Federal Fiat Fucks into their 401K bankster slush funds and buying short sale real estate. 

I even bet, back in July of 2010, one neighbor that Gold would be $1,500 by July 4, 2011.  The wager was either $20 or one ounce of silver.  He chose the $20 bet.  It will be a real teaching opportunity, but the lesson will go over his head either way.  Fuck them, fuck them all at this point.

Of course they all could be lying to me, but I know of only 2 people (Two Mother Bitchez) that have bothered to buy any PMs and they both just thanked me today.

I wish trolls like this guy could give me a fundamental anlysis which would get me to sell my stash.  God knows the hyperbolic rise that is coming in PMs is bitter-sweet for us holders.

Federal Fiat Fucks Bitchez.

Mon, 04/25/2011 - 13:31 | 1204152 lieutenantjohnchard
lieutenantjohnchard's picture

same here. i know only two other folks that have gold and silver.

Mon, 04/25/2011 - 13:41 | 1204223 Dr. Richard Head
Dr. Richard Head's picture

One of the two that I know, just sold a portion of his holdings to pay off his recently built $1 million mountain retreat.  Paid in full bitches.  Will he miss the parabolic rise?  Perhaps.  However, he is no longer playing the banker game and that is where I plan to be.  Half way there on my side and I can't wait for the Bernanke created Jubilee I am taking advantage off.  Drink and be merry with the sheeple and nothing more.

Mon, 04/25/2011 - 13:49 | 1204271 lieutenantjohnchard
lieutenantjohnchard's picture

love to repeat myself:

we few, we happy few, we band of silver holders.

Mon, 04/25/2011 - 13:55 | 1204333 Cash_is_Trash
Cash_is_Trash's picture

That's a fine saying, Sir.

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