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“Global Scramble” For Silver - Coins “Hard To Get,” “Premiums Likely To Jump”
Submitted by GoldCore
“Global Scramble” For Silver - Coins “Hard To Get,” “Premiums Likely To Jump”
Silver has had a torrid time in recent months and has fallen nearly 40% since July. In less than four months, it is down from $21.40/oz to $15.45/oz today. Silver is 70% lower since reaching over $49/oz in April 2011. The selling has accelerated in recent days and silver has fallen from $17.20/oz on October 28 and is down 12% in the last week.
There is blood in the streets of the silver market with futures speculators long silver, again having their heads handed to them on a plate and incurring sharp losses. However, the silver sell off has again seen a global scramble for physical silver.
Silver in USD - Year to Date 2014 (Thomson Reuters)
In recent days, there has been a global scramble to acquire silver bullion coins and bars after the price falls according to Reuters. Maple Leaf silver coins are difficult to acquire according to bullion dealers, with the Royal Canadian Mint on allocation from September. There is a concern that supply times will increase and premiums are likely to jump according to Reuters.
“A tumble in silver prices to four-year lows has triggered a global scramble by consumers to purchase silver coins and bars, as the spread between the price of the metal and gold reaches its widest in five years.
Retailers and distributors in Asia and the United States said they were struggling to get supplies of items such as Canadian Maple Leaf silver coins.
While demand for silver has been strong over the last few months, retailers say buying interest soared in recent days as the metal fell towards its lowest since 2010, along with gold.
Demand for silver coins and bars accounted for more than a fifth of total demand in 2013, according to a report by the Silver Institute. A sustained jump in demand should support silver prices, currently at just over $15 an ounce.
The price of silver is currently around 74 times cheaper than gold - the biggest spread since early 2009. Due to its greater affordability, silver sales tend to outstrip gold in volume terms and attract a lot more retail buyers.
The Royal Canadian mint had started allocating, an industry term meaning rationing, its popular Maple Leaf silver coins in September in response to high demand, according to a spokesman.
With the allocation of silver coins in place, the mint continues to produce and take orders for 2014 coins with no anticipated stoppage in shipments, he said.
But retailers are already finding it hard to get hold of the mint's products as they sell out their existing stock.
Some Asian dealers said they have had to pull Maple Leaf coins from their lineup until they get the mint's 2015 products.
In mid-April 2013, silver lost nearly a fifth of its value in two days, tracking a rout in gold, prompting a rush to snap up both the metals at a bargain price.
While the Royal Canadian Mint is rationing silver coins, it has no such system for gold.
The U.S. Mint is not allocating silver or gold at the moment. In June, the mint lifted its ration on silver American Eagle coins that had been in place since January last year as strong demand had depleted silver coin blanks.
The U.S. Mint sold 1.4 million ounces of silver American Eagle coins on Friday alone, the highest daily sales since Jan. 13 when the new 2014-dated coins first became available. October was the fourth highest month of silver eagle sales ever.
The Perth Mint, which runs the only gold refinery in No. 2 gold producer Australia, said it was not facing any supply issues as it usually launches a new line of products from September, unlike the other mints.
"We built up a lot of stock for those releases. So we have quite a few months worth of stock," said Neil Vance, wholesale manager at the Perth Mint.
"If this had been a different time of the year, it would have been a different story."
Silver in USD - 5 Years (Thomson Reuters)
We have seen a significant uptake in demand for silver this week both for maples and philharmonics and for larger 1,000 oz bars. Silver maples are being snapped up by U.S. and Asian buyers as the premiums are lower than that for silver eagles. Silver philharmonics continue to be popular in Europe as they too are less expensive than the eagles and have a similar premium to maples.
Silver coin demand is for both delivery and storage, while bar demand is primarily for bullion storage in Zurich and Singapore. The demand is broad based and coming from both retail investors and indeed high net worth.
Silver is down 70% in less than four years as stock and markets have surged to record highs. The gold: silver ratio has surged to a peak of 75.4 this morning, its highest since early 2009, as silver underperforms falling gold. Silver is great value today versus stocks and bonds and indeed versus gold. The smart money accumulates on dips and buys low, to sell high.
* * *
And in case you missed it, read the follow up to this article posted early this afternoon: "US Mint Sells Out Of Silver Eagles Following "Tremendous" Demand"
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Because they can.
And so it begins..........
Keep on Stacking, if you can :)
And so it begins......yet again.
So high demand, Quantative Easing, no Quantative Easing = low prices for silver.
So low demand, Quantative Easing, no Quantative Easing = high prices for s&p.
Gotcha.
You see, in a normal market, a gigantic surge in demand for something would drive its price UP.
Somehow I don't think that's going to happen here, for a while.
and this from a little while ago via www.SilverDoctors.com
http://www.silverdoctors.com/breaking-alert-us-mint-sold-out-of-silver-eagles-2-million-coin-surplus-sold-in-under-2-hours/
*Breaking Alert: US Mint SOLD OUT of Silver Eagles! 2 Million Coin Surplus Sold in Under 2 Hours!The US Mint has just issued an alert to Primary Dealers across the US that Silver Eagle inventories, which according to the Mint began today at over 2 million ounces, are now SOLD OUT as of 12:30pm EST.
The Mint has reportedly sold through over 2 million ounces in less than 2 hours!
It appears that the $15.50 level was the line that broke the camel’s back regarding physical inventories, as physical demand has simply EXPLODED on this morning’s futures dip below $15.20.
*SDBullion took delivery of 10 Monster Boxes of Silver Eagles from the US Mint this morning, and currently have 20 monster boxes left in inventory.
When they’re gone, they’re gone!
1:45pm EST Update:
At approximately 1pm EST, one of the largest Primary Dealers in the US issued a notice to all purchasers that premiums for ANY PREVIOUSLY PLACED PURCHASES FOR SILVER EAGLES ARE NO LONGER VALID!
This is simply unprecedented!
As a purveyor of fine silver the world over, in my opinion, we will not see silver climb in price again.
We will wake up one morning and the price will be multiples higher than it was the night before.
I don't see a scenario whereby there's an orderly price increase over a period of time given the paper vs physical dynamic.
I see more of a shortage and the market snapping. The paper price may go to zero though when this occurs.
Think about this for a second. People are buying paper contracts and the price keeps declining. Every long loses money. The paper price drops from $10 to $2 overnight and a default is declared.
Everyone who bought at $10 and above is settled out at $2 for huge losses.
And the winners are...
Just added to my beautiful sterling collection. Another Gorham bowl off eBay at near spot. The Cocksuckerz rigging the market will eventually be revealed when this pony show of a market is revealed for the fraud it is. The miners must have been paid off big time in fiat to keep taking this obvious ass fucking. Silver is cheap my friends. Instead of buying crap for Christmas this year for your family members, consider a beautiful piece of sterling flatware. You'll be helping them whether they realize it or not, and giving them a beautiful new family heirloom.
If they don't realize it then, they will probably try and return the gift or cash it in to get the latest i-gadget to make more selfies. There's gotta be some tough love and education in the package this Christmas.
the price will climb rather than be reset, i beleive - but it will come from split markets. At some point Shanghai will say 'as we only deal in non leveraged physical we will set our own prices henceforth'
their prices will then rise steadily but rapidly for shanghai but comex will keep supressing. when that happens, anyone still trading ETF on comex will go 'fuckn awesome, lets take delivery for once, and sell it back to shanghai not comex'
game over
Interesting that Swearengen suggests flatware for Christmas gifts, as I talked recently with a local antique dealer who said THERE IS NO MARKET FOR SECOND-HAND FLATWARE. People don't want nice teasets or cutlery any more than they want other old heirlooms. Many antique stores are shutting their doors! Don't be deceived by hype on antique road shows: young people are raised to think in terms of mass-produced disposability and do not want keepsakes: their homes and lifestyles are as intangible as their currency.
I stick with coins and bars so as to avoid wasting time educating potential buyers after SHTF. They may not understand intrinsic value, but symbolic value should come naturally even to the most untrained eye. Rgds
yer, and look, im a gold bug but i dont think that gold/silver coins as-daily-transactial-medium will return, but it doesnt need to for a gold standard or a partial gold standard to be reintroduced
and it wont be reintroduced willingly, but begrudgingly as the only bloody system that will restore stability and trust between global counterparties
because at the end of the day, even the centuries old oligarchy start to lose their shirts when volatility between assett classes is so increasingly violent
Jim Rickards is very salient on this point - and he works as an insider, not a contrarian
As long as you stackers are willing to wait MONTHS for delivery, tbtf will just keep shorting your shit. - Jamie
im in australia. 2nd biggest producer in the world. I wait about 2 - 4 days to collect
The kicker of course? There simply is not enough silver to go around for most Americans. Let alone the entire global population.
Chances are that 2mill troy/oz was bought by what? 20,000 people? Maybe less. Interesting times indeed.
You're right. Watch the market prices drop to 14 (easily) or maybe 8 USD/oz to try and coax folks to sell off. Then watch the real economy smash the financial paper games.
I just want to know WHO is selling silver at these beaten down prices?
Get your mind right - there is no silver being sold at these prices. Contracts that trade for cash only, being purged by the owners.
Perhaps you misunderstood my question or perhaps I did not state it clearly. Let me rephrase. Who is selling physical silver at these beaten down prices?
Perhaps folks who are investing in margin and have serious cash-flow problems. Maybe people who are scared. Folks with high inventory who need to liquidate assets for cash.
There are a whole slew of people who could be selling right now. I'm happy to watch silver hit $8. Or $5. Or $2. I'll keep growing my position, even if my portfolio exposure remains the same in percentage terms. And, provided I can remain solvent, or anticipate what is around the corner. I'll happily hold it for 20 years.
I'll happily hold it for 20 years.
Agree, it is not a quick sale item. Its insurance, financial, monitary, shit hit the fan, all hell broke loose, katie bar the door insurance.
Some how 20 years seems a bit lengthy however. Just look at the jobs going down, stocks going up, interest rates failing, govt debt expoding, ECB & JCB priniting like crazy. Shits crazy as it gets and the govt keeps lying about employment, CPI, debt, Ebola and everything else.
Its to the point that if they were in the eye of a hurricane they would swear things were getting better. Keep stacking that insurance cuz brother are we gonna need it.
at $15 /oz its a total absurdity. To think a large 99.9% silver coin supposedly only has the purchasing power to buy a sixpack of beer
if anyone is turning in their physical at anything near these prices they are complete suckers
I sold some at the "beaten down price" of $30/oz a couple of years ago.
Smart money, they are selling silver on ever uptick and need rubes to buy it. Gold and silver are severely over valued at these levels and they are going sharply lower. Most miners will go to zero in the next few years. Gold and silver are overrated pieces of shit.
Gold would be somewhat reasonable at 300/oz, silver around 5/oz for their jewelry and industrial uses and that is where they will go, maybe lower as the bubble continues to deflate and it becomes apparent the USD is the most valuable commodity ever known to man.
You forgot the /S.
He shouldn't need it. The last Sentence re the US dollar stood out llke dogs balls to me which is why I upvoted him. But at least you cleared the waters for those who get all huffy over the slightest *perceived* slander of the precious.
$300/oz and the Yuan is only a quarter of its current value against the Dollar?
Either Dollar appreciates massively or Yuan depreciates massively.
This is no longer your grandpa's currency game, son.
Please think before you type.
My silver carries a $500 premium...free shipping
lol, keep collecting your coins, silver bugs
Keep collecting the ephemeral digital entries, paper bug
Question: are you sure you control the delete key?
Fuck Off ! You're just envious 'cause you have no "shiny" just some crappy "units of account" (not even toilet paper...)
What are you collecting? Bits and bytes in one form or another on a computer somewhere?
There are many things worth collecting. I like paper if it has nice art on it and the signature is legit. Other than that, no thanks. I like old cars that are well maintained because they look good and it's a pleasure to drive in them. Old toys that are impossible to replicate today hold value as well. I exclude guns and ammo from collector's items because those are necessary items like tools in the garage.
Say, what are you collecting? Everyone is collecting something.
It's almost 2015, it's time to let go of the "bits and bytes" thing that bugs love to use as some sort of blanket counter argument to something you hold in your hands. Do you hold electricity in your hand? Air? The insurance policy on your home? Of course not, but you alll need it.
In 2014, you can go to jail for bits and bytes. You can buy food with bits and bytes, feed a village in Africa, buy shares in a company, and yes transfer wealth. I pull money out of an ATM with bits and bytes, which then buys me the phone I used to chat with you guys on here. You're talking to me on this message board, so pressumably bits and bytes is a big part of your life too. While you're on this website btw, you're making the website money. From bits and bytes! How about that.
The world has changed guys, there are other ways to make money and preserve it, outside of treasure chests of loot.
Wasn't referring to those types of bits and bytes. Your e-trade or equivalent portfolio is not money. It's a synthetic display of what you're supposedly worth and what you can theoretically afford yourself. It can all disappear into nothingness and then you're the one trying to figure out who or where to go and collect.
Electronic banking is fab. I use it all the time. I buy metals with eft transactions instead of carrying oodles of cash for example. Have been withdrawing cash for months now and hoarding physical cash at the same time using the digitial stuff to shop for metals. Of course our incomes are all digital now so we don't have a choice. The banks freak out if you want to withdraw larger amounts on a daily basis. So you have to spread it out and be careful. Hoarding cash is almost considered a terrorist act in this country.
There are ways to turn off the ads on the website.
Nothing has changed. You get paid for your work. Unless you steal from someone somewhere or you're lucky with your bets on the right horses. I guess that's considered "making money" but it is not for everybody. Remember, for every winner there are many losers or the game doesn't work.
Tell me what ways you have to preserve the money you "made"?
don't feed the troll....don't feed it bits and bytes or characters and digits. And certainly do not feed trolls your energy.
Psyop FAIL. It is almost 2015, the only honest thing you've said. Get ready, because 2015.75 is coming, and I thing Marty Armstrong is going to be right on this one. So funny that his prediction would line up with the end of the Shemitah, eh Jew haters?
Will do. Last I heard it's called dollar-cost averaging, which I believe is an investing method.
Yeah, we're still anchored in a thousands years tradition that worked fine.
Poor us...
Have you already got the new iPhone?
15:1
Something's distorting the market.
Simply barbaric!
That's why the miners are doing so well.... oh wait...
lol exactly. silver and gold bug logic cannot be defeated though. "You'll see when QE ends!". uh-huh. "Ebola!". Uh-huh. "You'll lose money in stocks!". Uh-huh.
Keep hoarding coins for the zombia apocalypse though.
Those of us who understand precious metals aren't buying to get 'rich.'
We're accumulating to preserve wealth when the Great Ponzi unravels.
[The more you know...]
The irony is that while you're "preserving" your wealth, more of it is going out the door. A bit farther down and we'll be at 2008 prices for silver. You preserved nothing. You missed out on growing your capital, period.
If you want to buy a farm, produce food, live a nice self reliant lifestyle, man do it. But hoarding coins for the last 4-5 years has gotten you exactly nowhere, and for many of you has lost you money you could have spent on enjoying life.
The zombies aren't coming man, and neither are the Russians.
And why exactly do YOU care ??
Bully,
Not sure why you got a down arrow considering the article states:
'Silver is down 70% in less than four years'
Silver is making a roundtrip. It's a great buying opportunity. Consider it a gift. The metal I bought 20 years ago is still the same metal. It's neither broken nor spent. I pity people who speculate with the fruits of their labor and potentially get their family into poverty. Imagine how resilient this nation and its people could be without the gambling factor.
This game is a mix of personal philosophy & risk/reward.
If someone bought silver 4 years ago, now down 70%, and must sell to fund house payments, shame on them. They now experience the result of ‘risk’ in life.
Yes, you make a valid point. But if this PM manipulation fraud is exposed publicly like I believe it will, holders will be vindicated. Save your sales receipts if you have or must sell some physical. Let's face it, times get tough and maybe you aren't a millionaire and need to raise cash to pay for something pressing. When this fraud finally goes mainstream I can see some kind of restitution given to those who held positions and sold while the market was manipulated. Far fetched? Who knows. But without valid dated sales receipts you've got no proof of previous ownership.
If someone put everything they had into silver 4 years ago, it would have been a crazy move. To put all eggs into one basket is always a crazy move. Precious metals not being an exception. Family still has to have a house and be able to afford the electricity bills.
I put everything I had into gold and gold stocks back in 1998. Think I kept a little cash and some silver aside. The shares returned fifteen fold and paid for a business which is quite profitable and now employs five others. I still add to my gold every payday and will continue to do so for at least five more years. As it stands, 65% of my invest able assets is gold coin, the balance being in gold shares, silver and cash.
Although I sold most of my shares in 2006, I am now buying back into the market. Strictly gold producers in safe jurisdictions. No US, South America or African operations.
Diversification = mediocrity as far as returns go. Aside from a few hobby speculations and cash, I remain fully exposed to precious metals.
Well, the gold miners have had the shit kicked out of them for a long time now. They're knee deep in blood but I guess it could always get worse. Problem is, when they shut their mines and stop production outright. Then what are you left holding?
Prices are relative. It is still up on the 10-year. And what part of low prices screams "bad time to buy" to you?
Where would you price silver? An industrial and monetary metal? Silver has a fuck ton of uses in the real economy. It also is a hedge against unsound currency.
Some assholes would have you believe that the price of silver will go to zero (or close to). But you know what? I don't invest in "get rich quick" schemes. I invest the majority of my capital for the long-haul. Silver might not go high for another 10 years. Maybe 15. Maybe 20. Perhaps by the time it starts to take off again people have forgotten all about it.
But you know what? I bought my silver in 2014. I bought all the way down. I sure as shit won't be selling until I start to see prices rocket (in sound fiat currency terms.) And I certainly won't be selling for paper given the current macroeconomic climate. At any price.
Downside for a year is redundant when you have a longer term view. I am not going to go chasing every financial market bubble that looks like the next thing and get chopped to pieces for marginal gains, by buying in at the wrong time.
Alright then, you got nothing to worry about.
Speaking of Russians. Like so many others to date, Russians are the latest group of people who probably wished they had more gold and silver stored away as the international J mafia is destroying their nation's currency.
We are in a Depression and surrounded by zombies, not sure what cubby hole in Wall Street you are trolling from.
Keynesian corner (tm). AKA "Invest. Invest. Invest. Invest! We will take economic growth of any kind, regardless of its longer term stability! We will also force you to do so!"
You know why silver and gold are hated so much? Because according to some Keynesian Economist (in fact, Neo-Keynesian is probably more adept because even Keynes would be appalled by this shitshow) all kinds of growth are created equal. Barbarous relics can be hoarded and detract from investment..
Except I would invest my wealth tomorrow if I felt that there was a genuine opportunity in the real economy out there (not just a get-rich-quick, billion dollar market cap., advertising revenue funded pyramid scheme, social media website). I'd wager most folks would do so also. Gold and silver bulls included.
In absence of an opportunity in the real economy, PMs are my way of abstaining from a ridiculously overpriced and deflationary Frankeneconomy.
So how is this different then the stock market crashing in 2000 and 2008 ?
Companies can and do go bankrupt, and their share prices go to 0. Silver and gold never go bankrupt. If you bought most of the railroad stocks in 1907 you would have been super wealthy over the next 20 years, and you (or whoever you left them to) would have nothing now. If you'd bought silver or gold in 1907 it would still by more or less what it bought back then.
You have a point, but by investing in stocks I play the game with the scumbags. I would rather watch the Wall Street Scum jump from windows, so anything I can do on my part to avoid interacting with them in any way is a win to me. Besides, I don't buy piles of metals, nor do I have a lot of them, nor do I have any interest in owning stocks.
Still, I'd rather cheer for the metals and not win, than cheer for the Wall Street Scum and be on their side. Money is just one aspect of life. The more I can do outside of their monetary system, the better my life is. I can live with my choices and be quite happy with them...without being smug. A trait many seem unable to comprehend.
Part of me enjoying life is spending money on pretty, shiney things that I can hold in my hand and pass down to my son for his enjoyment. And if it preserves purchasing power, that's a bonus !
Nothing like a shiney AU Morgan Silver dollar or American Eagle. And those gold Buffalos are AWESOME.
I never saw anyone say that silver will go way up because of 'Ebola'.
lol it's been all over: http://www.uncommonwisdomdaily.com/why-ebola-is-great-for-gold-stocks-18...
That would have been me....in the event that Ag was discovered as the cure
Precious is the rug under equities. And it is being jerked out.
Again, DEFLATION.
Credit market is trillions. QE is billions.
I never did get the 'mining' trade.....seems to me the same as liking beef futures and buying refrigerated truck stocks to profit...makes no sense to me.
More like cattle farmers than refer stocks.
This metals take down has been in the works for years, IMO. The massive short of the miners against all rational fundamental analysis should be proof enough. The big question being, how far does it go. Are the gold bugs Russians defending Stalingrad or Germans defending Berlin? From my perspective I hope the fuck it's Stalingrad but I've got my foreboding about Berlin being the better analogy.
A collapse like we've been seeing deserves an additional climactic $2-3 drop to $13.50-14.50, at which time there won't be any physical, or today's $3 premium will have blown out to $4-5. The demise of a long-time rigged market, like growing old, isn't for the faint of heart.
Paper gives me the heebie jeebies.
Metal makes me feel all warm and fuzzy.
And I'm a huge Black Sabbath fan....go figure.
If you have balls of steel, now is the time to buy silver miners. Remember to use common sense. Speculations should be an extremely small percentage of your portfolio.
Indeed. The majority of one's portfolio should be in solid companies like.... Tesla, Herbalife, IBM, ... oh wait...
Actually 5 years of HLF, 5 years of TSLA, or 5 years of IBM are all ahead of 5 years of silver "gains" right now. Just saying...
I am sure you will know exactly when to sell and will sleep securely knowing that your broker will never do anything to compromise your account. Ever.
Who needs a broker? S&P chart is clear, people my parent's age just buying the index and reinvesting dividends did great. It doens't have to be more complicated than that. Nobody needed silver here, just an index fund.
http://stockcharts.com/freecharts/historical/spx1960.html
Did great? I don't know about that. Many sold at the bottoms and bought at the peaks. The banks know this which is why this industry is doing so great.
Right now is a good example. The mantra is to "buy stocks" because there is "nowhere else to put the money".
There can't be a reaping without the fleecing at some point.
Yellen might even be stupid enough to try and raise rates to expedite the culling again.
"just an index fund."
... which is held in a .... brokerage account. Oh pardon me, self-directed brokerage account. I'm sure Corzine would approve.
You should get a big loan ...a really big loan and buy shares in the S&P!
I got a big loan at one percent, bought miners and silver options, now down 50 to 80% on those.
bully, it's not a good idea to make guesses about how to invest your money, you are probably not a trained certified professional in that regard, so that's the most dangerous thing you can do.
as the great MDB advises:
http://accredited-times.com/2013/08/07/stop-trading-why-you-should-give-...
And the computer algo's are designed to extract the most money from the most people at just the right time, so I'm sure all those S&P holders will exit at just the right time, and their brokers will advise them to do so at just the right time, and no one will get fleeced from the algo's.
Yea, that's the ticket...
I wish I could get a comprehensive list of metal mining stocks. Can you point me in the correct direction. Thanks
I like the companies that setup the loans to the miners...I like SLV and Franco-Nevada (FNV).
I guess you mean SLW?
Why? If you're really interested you should only look at some of the top producers, with low costs. AUY; AG; HL and a few others. And the royalty companies: FNV;SLW. Invest a few dollars and buy a good precious metals newsletter subscription. The junior miners are were the real money will be made, but unless you know what you're doing, may as well go to Vegas and put it all on 17 Black. Always worked for James Bond.
who the fuck bets on 17 ?
In times like this, I just have to keep going back to my original mantra "Long Term, Long Term, Long Term..."
Remember the motto of the site. To paraphrase: "In the long enough term we're all pushing up daisies."
My LCS has plenty of AG...but way more buyers than sellers
Wish I had a bigger truck, deeper pond and BIGGER bankroll
Premiums are already jumping, still worth it.
I pity the poor guys on King World News.
They must be using a lot of Tums and Rolaids.
We’re Close To One Of The Most Dramatic Reversals In History!!!!!!!!!!!!!!Goldschlager with a dash of silver colloidal
Whatever man. Someone pass me a Brandy Alexander. Is what it is Duderinos.
My stack hasn't done fucking shit for me for quite a long time. But there's no sense in dumping it - not like I can write off the losses.
there is no physical shortage.
http://www.providentmetals.com/2014-1-oz-american-silver-eagle-bullion-c...
gold and silver are headed lower.
MUCH lower.
silver = $13
gold = $900
Ignore this hype-pumping asshole guy and WAIT to buy gold and silver.
seeing as how you know the direction commodity prices are headed, you must have gotten very rich with your correct predictions in the past.
where is your mansion located and what kind of yacht do you own?
just curious.
great point, I use to think I was rich . But where is the mansion and the yacht? Fuck I'm too lazy to go out and buy a full size dingy! Don,t know the name inEnglish of (semi-rigido).
I just lost what many would consider the price of a mantion in the last six month. The worst is that I saw it coming ! I made an offer on a friends house that he refused. MAYBE some FUCKER could of smacked me on the head and said , BUY ANOTHER fucking HOUSE you fucking MORON.
Now stuck with my portfolio....
Now , not being pretentious can finally work!
F#^#|%+¥ putain de merde!
big deal
let it go lower even, I'm hoarding cash to convert at that time
buying increments every month and declared a spending freeze across the board
hoarding cash *** hoarding cash *** hoarding cash
deflation means we can buy the same at cheaper prices tomorrow - and fuck you TPTB
hoarding cash makes me very very very nervous right now
they could pull the plug on the system any day now
it is as much risk tolerance as I have
no stocks (not with a 10ft barge pole), no hype, not even UST
cash and precious all the way
timing this is a bitch
'gold and silver are headed lower. MUCH lower.'
My screens say there's possibly lots more blood in the streets - $13 ag next lower low and then one or more climactic 10% collapses to some eventual bottom.
Consider that PMs may be foreshadowing the real macro-numbers collapse and impending world financial-bank-corporate-trade collapse, and that the PM bottom will coincide with, and may not occur until, the long-delayed final equity disaster.
Back when it was $20 people were wondering how it was going to fall under the price of production. I hope some people exercise some options and stand for physical delivery. But anyone with any morey is busy making money in stocks.
I'm waiting for Gold to drop to $1,000 or below from the next two slams that the powers that be have in store...then I'll start buying again.
My dollar-cost average is below $600, but I'll blow out a ton of dry powder if it breaks $1,000 as well.
'I'm waiting for Gold to drop to $1,000'.
Try and wrap your head around the possibility that the time to buy PMs might coincide with the time when the banks and ATMs are suddenly closed, equity and bond markets are closed, commerce and trade are collapsing, neighbors on both sides have been laid off, all people have to survive on is their last week's pocket cash, including your family - and you realize this is the best time to acquire PMs, for cash.
Over 3 years ago the thought occurred to me to stop stacking PMs to send to my grandchildren, and start hoarding money: circumstances prevented any accumulation of cash, but 1) it now appears to have been the appropriate strategy, and 2) it STILL looks like the best plan for the kids.
I have lost ample supplies of PMs to nearby lakes, sadly, as I suspect many of the others waiting for sub-1K have as well. Think about when I'd have to buy to get an average that's below $600. That means $800 buys that are offset by $280 dollar buys to get to below $600.
The time to acquire PMs was 15 years ago, but today will do if you're holding zero. Waiting for sub $1K will do if you've already got it all covered.
hard to have a conversation on here when most people made the correct decision 15 years ago !
Did I miss the spaceship that told everyone the future for those fifteen years?
How about you tell me what happens in the next fifteen?
Besides. gold goes under 1000 before it skyrockets..
Shortage of supply = lower price in the Matrix, which we are all in.
That's a cool way to set a bottom for the silver.
I think they will drop price one-two time and when you can start buying it
Kind of contradictory to say "...demand soared as prices fell towards lows" unles you understand that the governments WANT the paper market to set prices...
Perth Mint says: "We built up a lot of stock for those releases. So we have quite a few months worth of stock,"
So they are happy to sell there stock as the price crashes !!! Really what sort of prioce did they buy their gold at then ?
How exactly do gold traders buy and sell in an ever falling price - surely their stock too must be running at a loss !!!!
The Mints are similar to big dealers - when prices fall, premiums go up. So a $2.49 over spot price last week meant you could buy an $18 coin. Today, that $2.99 over spot price means you can buy an $18 coin. Silver is cheaper but the coin is not. The best deals are immediately after a dump (before premiums are upped) - or once prices settle down (letting premiums fall). You also need to shop around - I have seen $1.50 price differences on a silver coin, when the normal difference is often just pennies.
There's plenty of silver available, but I guess even the mint has to buy ahead of sales and hates to do that while the price is falling. I've been putting off buying a short stack, and so far I guess that's been a good thing. Have to anticipate a little more markup on this stuff for the forseeable future.
careful, although gold/silver ratio is high, it could indicate gold price has some catching up to do (i.e., go down), rather than silver price going up. That said, I am itching to buy silver myself at this price.
When prices are fixed below equilibrium, shortages result.
Or you might say that shortages indicate price-fixing.
I regret that I have but one truck to back up.
Here's a trick on how to check inventory levels at Apmex. Type 9999 into the quantity field and it will come back with quantity on hand. They've got plenty on hand.
indeed...I just but 260,00 dollars worth of silver eagles in my cart at provident and started to check out with out a problem....except for the step where I would have had to pay for them.
Right now if you want to buy, the premium per ASE seems to be around 2.95.
If you want to sell, what is the premium right now? Anyone? Anyone?
You can find buyers you can sell to for about a dollar less ($1.95 premium) - but you have to shop around or you could get $1.50 or lower premium. Small quantities will get you lower prices, so your local dealers or ebay work better on small lots. Most larger dealers and online bullion dealers will be happy to give you a quote.
The buy-sell spread is usually tighter, but premiums are up right now. I have seen that spread at 30 or 40 cents at times, but 70 to 80 cents is pretty normal. The type of coin also affects the spread a great deal. Some of the rare special editions can be several times higher.
The premium to buy silver rounds at Northwest Territorial Mint is 1.27 over spot as of this writing if you buy 100 or more.
Repeat after me...
The demand curve is downward sloping.
The demand curve is downward sloping.
The demand curve is downward sloping.
....if it suprised you that demand for silver rose when the price fell, you shouldn't be investing in silver, or anything else. You also shouldn't be voting, but that's another story.
So let me see if I understand what you wrote...
The price fell and then the demand increased. Okay. I can understand that is normal.
But we are writing about two different and disjointed markets.
You are confusing the Paper Contract Silver Market and the Physical Silver Market...along with many here.
Actually it is now evidential that they have absolutely decoupled from one another.
Demand for Physical Silver was already extreme well before the price for Paper Contracts declined.
Now if demand for Physical Silver was declining and then prices for Physical Silver and Paper Contracts declined in response then that would be understandable because both markets, IDEALLY, should be coupled..
The problem is that the demand for Physical Silver had not declined to cause the Paper Contract price decline. Demand for Physical Silver was growing well before the price for PAPER CONTRACTS declined...This is only evidential by the orders and sales reported by Government Mints.
In fact when the price for Paper Contarcts decreased then demand for Physical Silver from the Government Mints, in response, grew even ever more rapid as the Government Mints are under the delusion that the Paper Contract Markets and the Physical Silver Markets are coupled...when in fact they are NOT.
It seems to me that you have your cause and effect relation inverted because of your confusion of two disjointed and evidentially separate Markets.
You may want to reframe your thinking process.
By the way this is a VICTORY ANNOUNCEMENT.
We have crossed the Rubicon.
The two markets, the Physical Silver Market and the Paper Contract Market, WITH THIS EVIDENCE, are disjointed and SEPARATE. This was predicted to happen and is heralding the FRAUDULENT PAPER MARKET's demise.
FOFOA was correct.
Congratulations to all whom have worked so hard to bring this realization to fruition.
It is almost over. Hang on tight. Let's defeat the Banksters.
We are not finished. The battle for Gold is next one. We shall prevail.
NOW WE BEGIN!!! We will finally see the difference between gold and silver!
Silver is consumed and those who desire silver may actually need a certain weight of the metal. If you are building a solar panel it is not enough to say I want $50,000 of silver, you will need perhaps 3000 ounces. If you are using silver as part of an investment strategy then all you really need is $50,000 worth of silver.
Silver may be priced right or not at this moment. We shall soon see. The demand for silver, if real, will call for increased delivery that can only be met with metal for many customers. If there is a shortage then prices will rise due to real physical demand.
Gold is different. There is never a shortage of physical gold. There are 170,000 tons of the stuff and no one 'needs physical gold in any certain weight. A 1 million dollar desire for gold could be met with 1,000 ounces or with 100 it just depends upon how the market prices gold. If gold rises a lot in price the few who use gold in industry will soon find a cheaper way to get the job of gold.
Silver is a metal that used to be part of several monetary systems. It was last used in this way by the Chinese in 1935. They gave up then and the French considered it but gave up on the idea too. I leave it to you to figure out why. Silver is now used in industry and is held by some speculators in the hope that it might return as money...it won't...sorry.
Gold has only one function. It fills teeth. Kidding, it acts as a vehicle to preserve wealth. The price has been suppressed for a few decades and even before that but the old European families and the dynastic families of the Orient have never bother to ask this decade's price. They hold it because they know it always eventually returns to a price near its true value.
In the coming month I suspect silver, if really in a physical shortage will 'outperform' gold, maybe by a lot. In the long run however gold will return to its function as a wealth asset. The fact that it must function at an international level will cause its price to rise far above the industrial price of silver.
Gold is THE wealth asset of humans. Silver is a nice metal with many many uses. Ultimately however if silver becomes too expensive substitutes will be used. The price of silver will be wedded to this fact. The price of gold is without limit. The savers of the future and their demand for a stable way to carry wealth from early life into retirement and beyond will be the factor that determines its price. The fact that nations will use gold on their balance sheet, as the ECB does today, will dictate that the price of gold will be nowhere near what it is today.
I wish silver investors all the luck in the world. I am not the envious type. My personal decision however will be to hold gold through the coming changes in the monetary system and well past that. For me it is gold and only gold.
If you think this through I believe you'll come to the same conclusion....even it silver 'shoots the moon' in the coming weeks.
Consider this.
There are 350 million Americans who are mostly ignorant to the fact that their country and its currency live on borrowed time.
There are 6.5 billion "other" people on the planet who either begrudgingly accept the status quo and the Dollar hegemony, they hate it outright but are not able to do anything about it and then there a few hundred million who are actually about to do something BIG about it.
Do you want to bet your future on this?
Silver will return as currency. An ounce of silver will pay for many more things in the future than it does today. Most debt and other leverage will be satisifed with gold and silver currencies.
That is my prediction and the wheels are already in motion.
Thanks for your thoughts.
"Silver is now used in industry and is held by some speculators in the hope that it might return as money...it won't...sorry."
based on what?
speaking of speculators, this is speculation on your part.
you speak as though you know, but i really don't think you do, you are just guessing.
Why speculate and risk being wrong?
I own and continue to accumulate the both.
The current prices are 30pc below the laughable level.
Gold is used in electronics and nothing else will do, and for best connectors and stuff is used as needed. Just as jewelry I'll bet demand is elastic, if the price goes down to $900 and stays there consumption will rise and stay there too. Question is the price of production, at lower prices probably supply gets narrow and that's what eventually stops the fall. Someone probably has some numbers on that, the chart suggests about $900. Which is only the 2004 price of $500 adjusted for inflation and higher oil prices. Cheap!
I beg to differ, but I will. Pretty much all the gold that's ever been mined still exists. Silver, not so much. In fact, there is currently less above ground silver, than gold. But, forgetting that for a second, silver exists in the earth at an approximately 15:1 ratio to gold. Ergo, everything else being equal (which it obviously is not), at the current price of gold, silver should be selling at about $75/oz. That has traditionally been the price ratio, give or take a couple of $'s. The fact that that is not the case, means that something is truly rotten in Denmark (and everywhere else in the world). Consider the following:
Uses for silver have increased many fold over the last 10 years.
More silver is used every year than is mined.
Silver is usually mined as a byproduct of base metals (demand for which is dropping).
I could go on, but I won't. Explain to me how, given just these few factors, silver isn't going to be selling at over $100/oz in the near future. My only concern is that the $100's might only be worth a couple of nickels in purchasing power, in which case we're all screwed anyway.
LVP, you mentioned you think 700 tons is the bottom of the barrel for GLD inventory. You're obviously a FOFOA follower, so I'm guessing you're fairly well informed on the dynamics of the market - what makes you think 700 tons is the end of the line?
I confess it is wishful thinking...I'm not certain there even is a bottom but it would seem that as inventory gets low that those 'in the know' will want to get theirs out.
The gold market is secretive and anyone who 'knows for sure' is probably fooling themselves.
A solar panel requiring 3000 ounces of silver would be how latge? ten square miles?
I want one already.
Gold, is the currency of Kings
Silver, is the currency of Gentlemen
Debt, is the currency of the Peaseantry
Labor, is the currency of Slaves
...
In Sumer it was;
Gold for the gods.
Silver for the human.
LuLu Amelu
Born to Dig
barter is the currency of peasants, and debt is the currency of slaves
And this real demand is especially troublesome given that they are putting miners out of business.
Part of the plan. The GS's and Blackrocks will be buying miners out of bankruptcy.
Some people believe the solar stocks will make a comeback.
funny!
If you have a solar panel you have something truly useful. I look at solar panels the same way I look at PM's, it's an investment in the future that I would like to see. Sound money and sound energy. Don't forget sound food, water, family etc. - lead......
leo ?
$215 an ounce and it only begins:
https://www.youtube.com/watch?v=h-gMymozM5E
2 hours ago, the postman handed me a 10 ounce, Royal Canadian Mint Bar, of .9999 silver.
"Argent Pur".
It was so beautiful I wanted to make love to it.
Fuck you Yellen. Nobody's fooled.
I keep eying that one, but always change my mind and go for 1oz's.
Wont have time to saw it up in the apocalypse is my theory.
"It was so beautiful I wanted to make love to it."
so, did you?
Silver production overall main input cost is oil. Oil down 25% last six months. Silver down 25% last six months.
Funny, just walked into the bank today and ordered some maple leafs. No problems at all. But the exchange rate has been going down almost equal to silver so the price hasnt changed here. Sooner they sell PM in something other than usd the better.
What i cant get are Libertads, Britannias or Silver eagles. Only at a ridiculous markup.
The criminal scum at JP Morgan holds a huge short on silver... someone is selling huge amounts of paper silver in the corrupt Comex... guess who? The CFTC is also corrupt, as is the CME. JPM is making many, many zillions in this scam... if the holders of Dec futures do not fold... the Comex will default and pay off in cash at... $10/oz?? Think there might be payback?
Yes, because someone else with deep pockets is holding the other side of this trade
Collateral scramble is in full effect as margin calls will come in faster and more furious now
How can you leverage algo driven stocks? Only one party can do this and only if one arm of their business is willing to accept stocks as collateral that the other arm of the same business is holding.
Deflation is a bitch. They're all scrambling and squeeling. Little piggies on Wall Street. Same as it ever was. Ironically (or not) they used to raise and trade live pigs in that part of town.
www.porkbeinspired.com/About_TheHistoryOfPork.aspx
Same as it ever was
If FaceFuck drops another 10 cents i'm all in fucker's.
Pat Patsy
c/o WallyWorks
WallyLand.
No scramble here.
I've bought silver at $5.
I've bought silver at $35.
And I sleep just fine.