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Apmex Out Of Silver Eagles Until May 13
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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thank you, sir.
.999 fine indeed.
We don't want filthy Bernanke or any Central Prankster confetti.
Every dollar that goes into silver and gold speeds of the tortured cries of kleptocratic Central Bankers, including the Bearded Clam that is The Bernank.
That sounds like a great plan, Blythe. One problem - when you gonna 'fess up how much JPM really lost the past year?
Maybe the Mint can be tricked into making more coins available if there is suddenly "overwhelming demand" for an Obama silver 1 oz.
I am partial to money depicting Lady Liberty, not Presidents.
Can The Bernank not simply print Silver?
If any mint ever prints a $50 1 Ounce Silver Bernank (complete with smiling Bernanke and the phrase "I am not printing money" inscribed) I will be buying all the way to $100.
LOL! +5
Fellas, I have a fever and the only cure is 1 ounce Silver Bernank.
The One Ounce, .999 fine, Silver Bernank, with Bernank's beaming likeness on one side, and Christopher Walken's on the other.
The Walken side is enscribed "I got a fever for fiat, bitchez."
Hahahaa! For that i would be more than happy to spend a shit load of Federal Reserve confetti.
I chickened out on buying slv puts this morning. When in doubt, just go look at your stash of physical and it lowers your blood pressure.
I have 10 shares of SLV that I bought at $30 still. Just rolled them over, and kept them in. I don't feel it was a bad choice, as the risk is negated by my Physical holding's. When it hit's $50 I will probably sell and buy some miner's with a dividend.
I firmly believe that they don't have a chance in saving the dollar, but if I'm wrong I want to have at least something that I can use to hedge my bet's.
Did you guy's see the amount of videos that were made covering the disparity of price between APMEX and the International market's? I bet that had more to do with it than APMEX actually being a good business model.
Personally, I can't stand APMEX. I've made three orders from them, and they screwed up all three somehow. They can't even handle simple orders of 10oz increments, and the silver they sent me was not what I had ordered. When I order Pan American Bullion, I expect to receive Pan American Bullion. I received some bullion from a mint that hasn't been around for 20 years, and I still have it because it is silver, but the wieght is wrong. How hard is to count to ten in 1oz incremnets?
My orders have been prompt and accurate.
Like wise. Just didn't like the bank APMEX uses for disbursement of sales.
Go figure, I would be the lone guy that they seem never to get right. Never been disappointed by NWTmint or Majestic though.
Coin shops still be me favorite. $1 over spot for rounds and $3 for Kugs, Liberties, and shit like that. As the price goes highes, the markup becomes a lower percentage. Plus, I buy without anyone knowing who the fuck I am.
Ahh yes, That's how I deal with Maples. I only buy Peace Dollars and Maples as far as coins go. The Maples I have every intention of eventually selling, but the Peace dollars and bullion I will hold for a more reasonable range. I plan on just trading the silver for areable land in the future.
I have made literally dozens of orders from them, and the only problem I have ever had is that I occasionally got an extra quarter or dime in the junk silver bags.
I'm convinced that I'm the only one that ever had issues with them. everyone else I talk to has had a good experience with them. I tried them only 3 times starting back in July last year, and twice in August. I'm glad that other's have had a good experience with them, but I will not be going to them again.
The only problem I had from APMEX was the popcorn stuck in my teeth...but it was good to eat while watching the rise in PMs.
And incidentally I've only heard of them using JP Morgan as their bank but I cannot confirm that.
Yes, they are their clearing bank.
It's not some conspiracy--they HAVE to use a big bank to clear the vast number of payments they receive.
I bought a large amount of their APMEX 1 oz. rounds and had no problem with delivery. No problems selling some of them back either when I wanted to lock in some profit.
Do they buy for a full dollar?
What's a full dollar?
A dollar that ate the blood of children provided by the Bernank?
Never had a prob with my orders, over the last 3 years.
I watched that happen over the weekend. The inventory count for random date Silver Eagles when I first noticed the decline was almost 6,000 Friday afternoon. By Sunday evening Apmex sold out and took down that sale block.
I'm as big a silver bull as any, but this headline is highly misleading. APMEX has plenty of silver eagles, just not 2011s. You can still buy most years going back to 1986, plus there are some higher premium numismatics as well dated 2011. When APMEX is completely out of silver eagles, every year 1986-2011, then that would be nuts. But this is pretty meh in my book. If you're just investing for the silver, buy another year, or some 90% junk or 40% or war nickels. No problems getting them at all from APMEX.
That said, this site kicks ass.
Note the availability
Silver American Eagle 2010 Edition - link
Silver American Eagle 2009 Edition - link
Etc...
But, yes you can buy the 2008 edition.... Just 20% over spot, about in line the the PSLV premium over NAV.
When I first saw the headline I thought all years were out, or sales were suspended for some reason. Being out and having a high premium are two different things. A higher premium should be expected at this point, with the higher price, higher demand, COMEX fraud being more and more exposed, etc.
I think (and hope) silver is going to dip just a bit maybe back down in the low 40s before taking off again. Oil/gold/silver have all gotten to some uncomfortable levels for TPTB and I think they can still pull the rabbit outta the hat one more time at least, and ramp the DXY and put a bit of a hurt on us longs. But who cares, it's just a chance to load up on the cheap.
IMHO there were a lot of programs set to sell when Silver hit the old high....which it did today. Completely expected.
Now I wish to see a really nice sell off of 20% just to set the base for the next leg up. BTW a 20% sell off would bring it down to the very low $40's, still higher than it was two weeks ago. 30% brings it down to where it was a month ago. It's all relative.
No 2011 maples either.
Based on past experience, a good time to buy silver is when there is none available for sale.
Agreed. Bought them out of a some Englehards once (the few they said were in stock) and months later when they were back in stock the silver price was up a big percentage. Same with some Swiss of Americas.
Just did a quick check (as of this post) of ALL remaining Silver eagles 2007 - 1987 (1986 is out) and the grand total is 10,230
That's not that many, less than 21 monster boxes worth
BD's Nucleo shows one Monster box at a ask of 150k. Friday there were some 500oz boxes for sale at reasonable price.
Not a silver shortage.
Just a pricing disequalibrium.
I can't believe ZH has turned into a silver pump shop. Please, cover other areas of the market. Silver is only one frothy facet of this week's trading convulsions. Look at bonds, or EU debt, or try to publish leaks on the FOMC meeting.
since you are so wise and wealthy why do you need zh to tell you what is important? you said silver was gonna drop $8 per ounce. so i assume since you see the future you're short. why not start your own site and tell everybody else what's important dear wise, wealthy, all-knowing and seeing grasshopper.
When the thesis presented in our March 18, 2009 post changes, we will be happy to go along with your editorial advice. And since you hopefully agreed with the "pump"then and rode the 5x gain in silver, you are surely retired by now?
Now that's old school Zero Hedge.
And ONLY 21 comments.
I remember that day very vividly. It was similar to the day that they announced the bailouts. Once this happened, I knew that the US had chosen its path. Until we get off the printing / drug habbit, one has to be long the metals as a point of necessity. Anyone who thinks that Bernanke will accept the pain of drug removal in leu of a slow death, doesn't understand how the ponzi works.
At least get MathMan (or dumbassman, mouthman, etc.) out of your knickers before you complain to ZH about it being a "silver pump shop."
If anything, you and Mathman should argue endlessly about how right you guys are investing in other equities while silver blows up. Talk about a one-legged ass kicking contest..
ZH covers other areas of the market. Stop reading the comments to a silver article, moron!
Perhaps you would like to come and see the homepage www.zerohedge.com. Here we have a wonderful assortment of articles; Some of which include topics such as Japan, Commodities, US Policy and polictical news, and more! It's fun for the whole family!
The person who can explain to me in plain english why silver miner stocks are performing like shit gets an american eagle.
The markets are rigged. When can I get my eagle?
In the days before silver ETFs, the miners and junior miners were a good bet to ride the wave. However, supply and demand come in to play and the supply of silver ETFs have robbed the miners of their market. Send my Eagle to the Red Cross for the Japanese victims of the Tsunami and Radiation.
They looked good for the first quarter, what's wrong with them now? I know a lot of deflationist's and the silver is in a bubble crowd are pulling out of commodities. These are the same people that are probably going to buy back in after the next crash to capitalize on the silver bug's demand.
what's wrong with them?? oh, just an assload of divergence. to repost what robottrader just posted earlier: http://stockcharts.com/c-sc/sc?s=SIL:$SILVER&p=D&b=5&g=0&id=p49152519058
http://truthingold.blogspot.com/2011/04/ill-take-crack-at-explaining.html
1. In some cases the mines' profits come from many metals. Silver is usually one of the smallest slices. Those ones are suffering from a decrease in industrial demand for the other metals.
2. All mines need a lot of power. Power (oil) just got rottenly expensive.
3. All mines trade as paper. Paper is fickle. Physical possession is becoming more important in a world of liars and crooks.
3. Some of the bigger "sophisticated" mine companies decided that they know better than us "rubes" and shorted silver. They are getting crushed on their hedge.
4. Finally, some may actually be smart enough recycle their profits and even get some cheap credit to buy up additional silver rights so that they can expand capacity. You want these ones if you can find them--as long as they aren't so overextended on their credit that a temporary Comex stunt can wipe them out.
Here's my theory of the day:
China is shorting the shit out of the miners to drive them lower. Then, when they coordinate their dump of all US arsets, dumping the dollah down to about 40, they can pick up the miners for 50% and own all the mining assets in the world.
and why the fuck not, eh?
It's simple really. You are the leader of a nation with Silver/Gold Mines. Your national currency is in the process of going to shit. The only real money is Silver and Gold. The CEO of the mine tells you to go fuck off when you tell him he must mine Silver and Gold for his country. You immediately nationalize his mine and make it yours. The mine stocks go to zero.
Winnah!
Companies which produce money will not be allowed to profit from the banksters machinations. Instead, they are sitting there as bait, waiting for fish who believe in the conventional wisdom "that miners go up X times the commodities they produce."
Even Doug Casey fell for this trap, failing to see that a collapsing society cannot be viewed as "mining friendly."
Simply put, miners are too big of a target to not steal, when the future of Socialism is at stake.
In short: many miners HAVE gone up X number of times since their 2009 lows, and Doug Casey has done very well as a result. Where have you been?
Get ready for the Bloomberg article stating how investor intersest is falling. Nevermind Eagles are being rationed.
Tulving is not out... If you can buy larger quanties like a BOX of 500
they always have the best prices
http://www.tulving.com/goldbull.html
$3.49 above spot for Eagles
$2.49 above spot for Maples which is VERY LOW!
Look again. He isn't shipping until May, just like Apmex.
dupe
Ebay Bid: Scottsdale silver 1oz. @ $59.
Talk about disconnect from the spot price.
http://cgi.ebay.com/1-Troy-Oz-Silver-Bar-Scottsdale-Silver-999-Pure-/200...
That's +~$12 difference between spot.
Facts people, that's what we need. Not this Mis/Dis-information CNBC, Fed, Gov Shills.
There are more ads for "We Buy Gold", "Sell your Gold". on billboards, news papers, and street corners. People need that cash to buy food, pay rent, and gas. Most people, are pay check to pay check. Not traders, investors, stock mkt boys, finance, economy, day trader people. Remember the Demographics of most of america.
One can always get 5% cashback on eBay. But yea, they go nuts for Scottsdale stuff for some reason. I've been watching 10 oz stacker bars for months and they're always 15% over spot.
Tulving is tuff to beat on the green monster.
"The person who can explain to me in plain english why silver miner stocks are performing like shit gets an american eagle. "
Because some people are shorting them to hedge a physical position
hm, good call...
139 million shares of SLV traded today.
3x as many shares as INTC.
Second only to citigroup, and closing in! http://www.google.com/finance
What's going to happen when those people start to doubt SLV actually has the silver?
Paper to Physical divergence goes through the roof.
That's amazing.
SLV doesn't have any silver yet people traded it.
Intel doesn't have any intel yet people traded it.
Sony Entertainment doesn't have any entertainment and people traded it.
Its' so weird.
Next up, the coveted Silver American Goose.
Just for those that don't know, to check the total inventory at APMEX, start typing "9999" into the order box. A window will open up showing how many are in stock. If it doesn't, there are 10,000+ in stock. (credit Long John Silver on this one, or at least where I first heard about it).
http://currencytradingexchangeguide.com/607136/silver-physical-supply-in...
I EVEN HEARD IT ONLY COSTS 4,95$ TO DIG IT!!*
*if your standing right on top of it and it's buried under 10 inches of dirt, your neighbours stash which you saw him bury in his yard for example. (The 4,95$ is to feed his pit-bulls hamburgers until you got it out and away).
Here kitty kitty: http://windowseat.ca/images/caucasian_mountain_dog.png
http://perfunction.typepad.com/perfunction/images/2008/08/24/haz_hairplugz.jpg
Some other good "mining equipment" investments:
http://www.amazon.com/Dog-Attack-Survival-ebook/dp/B004JU20LO/ref=sr_1_16?ie=UTF8&qid=1303752961&sr=8-16
http://www.amazon.com/Dean-Tyler-Bite-Sleeve-Revolutionary/dp/B002XYCC3E/ref=sr_1_17?ie=UTF8&qid=1303753001&sr=8-17
http://www.amazon.com/Halt-Dog-Repellent-1-5-118464/dp/B000E4Q7BS/ref=sr_1_3?ie=UTF8&qid=1303752961&sr=8-3
http://www.amazon.com/DAZER-II-Ultrasonic-Dog-Deterrent/dp/B000E7KVQ2/ref=sr_1_2?ie=UTF8&qid=1303752961&sr=8-2
ps: A good cardio training is also advised
"The person who can explain to me in plain english why silver miner stocks are performing like shit gets an american eagle. "
1. Hedge funds and others are shorting them to hedge a physical position in the metal
2. Investing in mining companies is risky. Not many people know the solid
companies, thus instead of doing research they simply just buy the physical
which has been doing amazing for everyone.
3. Eric Sprott mentioned that the analyst community still has Silver priced
at $29 for all of 2011, with a 25% decline ins 2012 and another 9% decline in
2013. So pricing models for the miners are based around this analysis which
needs to be updated pronto.
4. many mining stocks have not shown the earnings that the increase in
bullion eventually show up on the bottom line. The next several quarters
which will be all excellent for miners will be a game changer how people look
at the mining stocks.
thanks very much. the weird thing is though, that there seems to be virtually no sentiment in these things! where is all the bullish sentiment that always precedes positive fundamentals/earnings/etc?
it's like nobody cares to even speculate on miners. they'd rather go to SLV and GLD.
hedging must be the biggest factor because as silver heads higher these things seem to only go lower.
miners are a big gamble. The silver vains aren't predictable enough and only go up when they give a good div.
Most of them only offer promises of large deposits. I had some about a year ago but when I checked out the managment of those mines I just dumped them.
Most mines are so indepted that any returns just aren't profitable.
Ask P_I about Alexco.
Yeah, I heard that Land's End was out of levis 505 pre-shrink, stone-washed, boot-cut, 33w-34l jeans, too.
No update on Monex "Live Chart" of Silver Eagle sales.
Maybe they didn't sell any today because they are out of stock?
Monex and Apmex are sold out.
Maples bitches...they got plenty!
Just bought 50 maples from Provident. Great Price but 4 week delay.
Provident Metals, where I often buy and have always been happy with, is also sold out of everything except for some 2008s they have left
Look at IYR and REITs just fly like an eagle...not a silver eagle...and actual eagle.
My god, where does this end?
Huge E Rection,
remember that website (currency and coin) you posted about with the $49 silver eagles the other nite? I jumped on it and bought 200 "but" as the old addage goes if its to good to be true its to good to be true, I just got a call from them and they apologized for the mistake but they "Just dont have em" I was told. I kinda figured as much so i was not to dissapointed but thanks for the link and effort.
Lastly "TMOSLEY" keep up the good work and laff's coming. You are the funniest MOFO (followed by akak) and I look forward to anything and everything you post!
:-)
Huge E Rection,
remember that website (currency and coin) you posted about with the $49 silver eagles the other nite? I jumped on it and bought 200 "but" as the old addage goes if its to good to be true its to good to be true, I just got a call from them and they apologized for the mistake but they "Just dont have em" I was told. I kinda figured as much so i was not to dissapointed but thanks for the link and effort.
Lastly "TMOSLEY" keep up the good work and laff's coming. You are the funniest MOFO (followed by akak) and I look forward to anything and everything you post!
:-)
LOL tmosley, he's got a crush on you!
That shit's sweet.
Just put that song really loud everywhere until people understand.
...
Hey hey,
Hey hey,
Fuck the Fed!
...
http://www.youtube.com/watch?v=-6Fpoebz2LE&feature=channel_video_title
This story is horseshit. It surely couldn't be correct since silver is dropping back down from it's high today. Surely, if it were true, the silver market would be selling back down.
It always sells down @ 9:00 AM (give or take a coffee) on Monday. Mondays are BTFD days. It will rise later in the day when New York closes and stops dumping counterfeit contracts on the market. Bernanke has plenty of FRN's printed to back up the Silver shorts.
203K contract volume today at $2 off the low it's about a 50% retrace of the raid. Tomorrow is OPEX and tomorrow the LBMA comes back on line. Physical. It should be one hell of a day. I don't discount a close over $50 tomorrow. Not betting on it but I wouldn't fade it either.
B-b-but doesn't Bob Moriarty say there are billions of tons of silver available to be melted down, and isn't he railing that at these prices 'who wouldn't be scrambling to unload their teapots'?
Besides that, there is obviously nothing simpler than extracting every last ounce of silver just lying around in landfills from old Iplods and other consumer products containing the metal; piece o' piss, that!
OTOH, he could be right about another buying opp., it IS OpEx after all.
long time reader, first time poster so I want to get this one right
"silver bitchez!"
how was that?
you've passed the audition.
Welcome to the party pal.
Not bad.
You didn't capitalize either word, no bold, and only one exclamation point? I could have overlooked all that but no...you had to put it in quotations as if you don't even have the conviction to say it yourself.
PFFFFFT!
Amateurish at best....
(Welcome to ZH :)
Beautiful!
Ok guys lets me honest.
Which one of you will buy silver
above 50$.-
I will buy it. As long as someone will trade Silver for FED confetti, I'm in.
I just changed out the Labor Rate for my Shop.
Over here.
That is the wrong question - the right question is who will continue to accept a fiat currency in the face of a sovereign strategy to destroy that fiat?
More simply put, who will ride their fiat paper to fifty cents, 25 cents, 10 cents, to zero???
Find any and all non fiats (silver very much included). I continue turning paper into physical every month and see no reason to change now.
Will gov be able to remove QE and sell $2T in new (and roll $3T in existing) at anywhere near current rates? Absent more QE and absent any modicum of a plan to cut deficits, the money will continue to roll in to avoid the interest rate death spiral. I'll buy so long as I have worthless paper (digitally created "money" backed by nothing) that someone will exchange for a real store of wealth.
But you still use that same paper
to buy gold or silver, so the more paper
you have the more silver you can buy.
Capici.
paper is medium of exchange vs. PM's are store of wealth...very different.
Absent any governmental fix (haha) countries and peoples will realize the paper is too flawed and "transitory" to be trusted. Some fixed currency will restore confidence once again...just like an alcoholic, we have to hit bottom first before we can change our paradigm.
Exchanging paper profit for physical Silver always means your cost is ZERO.
Ok guys lets me honest.
Which one of you will buy silver
above 50$.-
All of us, get real kid.
Being in the Vancouver mining industry means most of my friends own physical and since we associate with some silver analysts who have $150 targets there are a few of us who dollar cost average and will do so up to $100 or more
As for mining shares I really don't understand the complaints. For example FR.TO is up 700% in 9 months and that's in Canadian $
I also went on Stockwatch and found all of Sprotts silver placements past 6 months. Only one, GOG.V, hasn't doubled. So including warrants most of Sprotts gain would be around 250% during a time where silver doubled. You just have to follow the money
I see very little in stock at Apmex in generic bullion either.
Ok guys lets me honest.
Which one of you will buy silver
above 50$.-
Already did :)
Already did; Panda's carry a higher premium. AE are going on ebay for close to $60.
Will it matter when it goes over $100/toz or for barter when the paper fails?
Ok guys lets me honest.
Which one of you will buy silver
above 50$.-
Hmmmm lets see...buy and hold a $50 US FRN (that has dropped in value every year and will continue to)
--or--- buy and hold $50 Maple Leaf.
I wonder what each of those will be worth a year from now?
Hmmmm lets see...buy and hold a $50 US FRN (that has dropped in value every year and will continue to)
--or--- buy and hold $50 Maple Leaf.
I wonder what each of those will be worth a year from now?
ZH and Eric sprott getting smack talked on Minyanville.
http://www.minyanville.com/businessmarkets/articles/us-economy-silver-price-us-dollar/4/25/2011/id/34135
Funny Roy...a readers comment to the article on that page sums it up nicely!
"Mike Merrill
Lower Highs and Lower Lows for the Dollar Your chart of the U.S. dollar is interesting, because it shows the dollar making lower highs and lower lows. Technically, that means to me the trend is down, not up.
More importantly, the fundamentals for the dollar are lousy. The U.S. is under a staggering mountain of debt- $14 Trillion- if we don't count the $10 Trillion in off balance sheet liabilities the Fed bought- or the $70 Trillion in unfunded liabilities for Social Security, Medicare and Medicaid. Meanwhile, our politicans argue about cutting $4 Trillion from the deficit- not debt- out of an increase in $10 Trillion. That means another $6 Trillion added to the debt at best. Factor in higher interest rates at some point, and it's no surprise that Central Bankers, hedge funds, institutional investors, university endowments and small investors alike are abandoning the dollar and buying precious metals.
Good luck with your trade- I'm on the other side. I expect a dead cat bounce for the dollar at some point, which will be an opportunity to buy the dip in precious metals. The long term trends for the dollar are down and PMs are up."
That is an awesome comment. I am long silver and have been for awhile and a dedicated ZHer.
I was merely pointing out the idiocy of Minyanville...I'll be more careful to point that out next time
Go check something other than 2011 Brilliant Uncirculated and there seems to be plenty 1989 and other varieties including Maples....which are slighlty more "pure" than Eagles
I think the silver top is 2000$. If it goes to 2001$, I'll eat a 10 oz Beluga caviar ON A ORDINAIRY TOAST!
No, you will not, good sir.
Toast & bread will be largely unavailable. You will suffer whilst eating that Beluga on a bed of velvet cake.
They will be cheaper on May 13th, approx 35-40 USD/ounce.
That will cause the Mother of all buying frenzies!
Ivars,
I told you I bookmarked some of your dumbfuk posts about silver crashing and I would keep reposting them at $10 upswing intervals to keep you from falling more out of touch of reality. Warning #1...
OK, within next one year. After that even I know silver will be above 50USD.
Also, I wanted to add, You all guys speaking about fiat debasement are basically correct, just too eager= too early . That happens to me most of the time when I think the trend is already the one I expected.That happened when I called silver top at 42. That was the bottom of my range for top, so I jumped in. Too early. Now its at the top of the range, 50.
Well, fiat debasement is coming, after 1 year or little more, but its not here yet, the fiat destruction trend. What You see not enough other people see or want to see. Its not happening yet, but You wish it so much that You do not see your calls are too early.
Have some patience, 1 year is not so much. And keep Your silver, it will be worth more. Just do not make longs with loaned money at 47 NOW as you may lose it in margin calls.
Ivars,
The US Dollar debasement has been happening since QE1 and will continue until this whole paper house of cards burns to the ground. When silver hits $100 in the fall or earlier, you will feel like you really got ass-raped by not buying in the 40's. BTW, the POS (USDX) is trading below 74...
There will be temporary tightening, that will delay the debasement but not forestall. Without tightening, you are in Weimar- but that will not happen. Many people will think that tightening may stop movement to some form of gold standard, but they will not think so for too long as political changes in the USA will point towards gold standard.As will the mountain of debt that will be obviously ready for haircuts. Its obvious that with economy in recession in 2012, neither Dems not Repubs will have a chance to win since they are both in charge now, running the show that will have dramatic ( in economic terms ) outcome already this year. (stocks down, unemployment up, inflation up, growth down) .
It also depends who will come to power in 2012. If it will start to look that Ron Paul may become a treasury secretary or Tea Party will win the presidency and the Senate, and default on foreign debts by installing gold standard for M1, than silver will hit 100-150 already in 2012 . In practice, they will not be able to move to gold standard before 2013 or even 2014. But it will still be gold standard, not silver, so silver value will fluctuate relative to USD based on gold. Sometimes it may get down to 50 again, with gold/silver price ratio e.g. 150:1. Why not?
Just do not call it too early, many retail buyers may risk their student loans etc to buy silver now just to see margin calls coming next month. Who needs that panic? Why are You inciting it when things will anyway go Your way in a year or two?
That's a pretty poor attempt on plausible deniability: "When I said 'Don't buy silver' I only meant 'Don't buy silver on margin / with loaned money'!"
dupe
gee thanks for the prescient, free advice. i think i'm gonna go roll the dice on a year's salary based on your post, sell right now and buy may 13th when it's 35 bucks an ounce.
dumb ass...
When its crash, its crash, so its not so hard to figure out what the price will be in May 13th.
give it a rest, dude. it doesn't matter if the price goes down to 35 or hell even 25. if it does I BUY MORE. there is no logical reasoning for offloading physical in exchange for garbage fiat, under no uncertain terms. why risk a $10/oz gain over getting said metal back? you'd have to pay half that gain in premium anyway... it's not worth giving up possession of physical, trying to make a few bucks to stay ahead of the curve, only to try to get that physical back. not at any current denomination! period!
No, sure , if you own real silver, do not sell. I am only talking about beeing long in silver or ETF in some trading exchange and not having enough funds to be able to take a 40%-50% correction for few months, up to 1 year.
Owning real silver is good also for 47 USD. As long as you plan to own it at least one year or more, not make paper money by selling it to pay for other things you use.
People that don't like it neglect to refer to it as currency or compare it to the product they use to determine its value. That is illogical if it sets the value.
And gold must join in...
$2,000 silver huh. I would be happy to sell you all of my silver. I will buy gold with the money. Does anyone on this site mention 'gold' anymore. It is just silver silver silver. I remember this behavior about 11 years ago during the end of the dot coms. It is really weird seeing the same types of posts.
Check the headline, the article is about silver.
++++++++++++++100++++++++
I haven't forgotten gold. Just checked its price since I last did and saw a $10. increase. For me, silver is more affordable. I don't know anyone who could buy lots of gold coins and when I talk about the rising value of both PMs, my friends and family tell me I'm nuts and that they're sick of my gloom n doom armageddon rants.
We are a lonely bunch, aren't we?
We are a lonely bunch, aren't we?
You're not alone; I have been banned from discussing it or not even invited to events that I normally would have been. In addition to that, my outspokeness about Obama being the worst president ever adds to their warped perception that I'm the one who's insane.'
My own mother says she doesn't want to be around my negativity; since when does being realistic=negativity?
ditto.
Well, these are comments on a piece regarding the availability of silver. You were expecting a conversation on recipes for Spam and eggs?
I think the US Mint is dogging it on purpose. They don't want more record breaking Eagle sales fueling the fire.
Gentlemen... I confess that I do not own any physical silver. Was wondering if you would recommend to hold off for low 40's?
Also I saw this and would like your thoughts as an investment.
Made In The USA 1 troy oz Bar. fine silver 999+. please allow 10-13 business days prior to shipment Year: Bank Wire: $48.74Credit Card:
$50.08
Thank you in advance and dipshits like MathMan are welcome to NOT respond.
I "Bought the Spike" @ $12 an ounce. The nice lady at the Bank where I wired the money from tried her best to talk me out of "expensive Silver coins" and what a better deal a CD would be with a 3% interest rate. The APMEX buy price today is over $50 for each of those coins. You have no idea if Silver will dip more than it just did this morning. It might, but if you wait you may never get in..... If your going to buy, buy now like I did this morning as I do every Monday morning no matter the price. You are trading confetti for Silver. Soon you may not be able to do that because no one will take the confetti.