GasGuzzler
Hawkeye
Boom. The correction was large but far from disastrous.
Silver Spot Price
- Thread starter KIR
- Start date
Star43
Hunter
The problem was it went up too fast..
Let's hope it can creep back up a little more steady and hopefully hold a little higher than it is now...either way it is still a win-win to me....When it went up so quickly, it was easy to think it could go much higher, but who knows. We are still better of than where we were....
Let's hope it can creep back up a little more steady and hopefully hold a little higher than it is now...either way it is still a win-win to me....When it went up so quickly, it was easy to think it could go much higher, but who knows. We are still better of than where we were....
Major sell off and it dropped $38 to $84 from $122
Star43
Hunter
I never even saw the $122 you speak of. It must have happened in the middle of the night here in CA. I saw a high of $118 and change. I also saw a low of $75 on Friday before it bounced back to the $85.41 on Friday closing and what I see now.....Hopefully by Sunday afternoon when trading is back on, it will hit around $95 again...I sure Hope so anyway....
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I’m waiting for it to go back to 12 before I buy anymore
The big "sell off" is simply paper shuffling. There IS NO silver to be had in large quantities.
Try buying physical silver from "the big guys". Ain't happening.
Perth Mint.. not selling anything until the end of Feb.
Shanghai Bank. About sold out of physical silver.
US Mint. NO Silver Eagle sales..
The rest of the World plays in real metal. The Comex is a paper game that has oversold itself.
Smart people who hold physical metal will just wait.
STRICTLY my opinion
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Star43
Hunter
The most important part of owning Silver is to actually owning/holding onto it physically, NOT paper certificates. They will be worthless down the road. Hold the Silver physically for the actual and Real true value....
Star43
Hunter
If it ever went back close to 12 as you say, we will all be in a world of hurt...
Wed I could not sell 20 ASE's. It is 'worth' what you can sell it for.
Star43
Hunter
Your 20 Eagles still have their value. The reason you couldn't sell them on Wed. is because you weren't talking to the right buyers. There is always going to be a market. You just have to be talking to the right guy. Personally, I wouldn't waste my time going to a flea market type guy or a regular pawn shop. Not in the Central Valley in CA here. Check different coin shops in your area and you will meet someone who is more interested in dealing with you. Thete is always going to be a guy hungry enough to make a deal. You just have to check it out......now for me, I still want to ride the wave a bit more...
Sure has put a dent in my plans for winter werewolf hunting…..
Star43
Hunter
Ride the wave Jake...
Check this out . . .
Bad Barlow
Blackhawk
Apparently there has been a waterfall downstream from the wave...
Star43
Hunter
Up until about 4 hours ago the price was in the mid to high eighties. I just see now it's about $77 or so.....Let's see what happens tomorrow. We all knew a sort of correction was going to happen and here we are....Don't forget that just only a year ago we were at the $28 - $30 range and now even with the lowering we are still in the mid to high 70's, so it is what it is. To be honest and if we go back in the 80's tomorrow and things hang around there, it is still good...This is all uncharted waters. Let's see what happens....
DGW1949
Hawkeye
PM's always go up and down while trending upward, so I don't see a problem. One needs strong hands, that's all....Myself, I wasn't selling anyway, so a couple of bumps in the road ain't really all that important.
DGW
DGW
Star43
Hunter
If one was at $30 a year ago and now we are around $77.....would you be happy ?
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But as I have stated numerous times, try to sell 100oz at Spot. I can't in SW Ark. I could not sell 100 oz at Spot minus 20% last week.
GasGuzzler
Hawkeye
Terry Morgan
Single-Sixer
I'm regretting all the silver bullets I sent down range over the years!
Star43
Hunter
KRW, I hear what you are saying but no one sells at spot, because the coin dealer or jewelry shop owner, or a liquor store guy for that matter wants to make a few bucks too....so it is very, very rare to sell at spot. As far as a 20% back, you should be able to do no problem. The problem is you are talking to the wrong "buyers". Me, I'm not selling as I don't have to or want to right now, but I personally would not sell at 20% back of spot....not me...Even right now we are well More than double as a year ago...Also, I was extatic when it hit $50 !!! I was amazed at that !!!
Star43
Hunter
As I write this it is a little over $76...It is always going to be a bit harder to sell the big bars. The smaller increments of 1 oz coins or bullion or 5 oz bars is easier to sell.
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Star43
Hunter
I would not deal with him at all. This guy is just trying to take advantage of you. Right now, a lot of the unscrupulous dealers, if you want to call them dealers, are taking advantage of people to make more money for themselves. I know a dealer in my area who is buying bullion at about 7 or 8% back and 90% at 10% back. He may be at closer ro 15% for the 90% now and maybe 10% for the bullion, but I will be seeing him tonight and find out. No one is buying 40% right now, well not many from what I hear. You just have to keep looking if you want to sell to find your own best deal. The best part of that is you will find an area dealer you can trust and work with now and in the future.
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DGW1949
Hawkeye
I figured out long ago that the easiest form of silver to sell is the 1-OZ American Silver Eagle....And still is...A couple of weeks ago when the paper-price of silver was in the lower $90's, my wife sold some of her Silver Eagles to an outfit in Georgia for $85 each....A week later it hit $100, and I noticed that two well known dealers was paying almost that much....My local guy in downtown Iuka Mississippi?..$60 tops, if untarnished.
Pays to look around...but all in all, stacking 1-OZ AE's is probably the best bet for those that are in it primarily to sell later.
DGW
Star43
Hunter
I agree that Eagles are best to buy right now in a way. Eagles hold their value not only for the .999 Silver content, but also for their numismatic value at the same time. Bullion does not have any of "numismatic value", just Silver value. In the last 10 years or so, "Silver value" has been the driving force when collecting coins. With Eagles you have both. A few years ago regular bullion was the way to go because there was no or very little "premium" when buying them. Eagles have always had a premium when buying them but now with Silver's increase, it's closer to the same, so Eagles are what I'm looking at now if I were to buy Silver.
Where are you selling or buying silver or any metals at spot? I sold a few months ago at -2, now it’s -12+
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Star43
Hunter
Who are you addressing this question too? Certainly not me as no one regular guy is going to be buying anything at "spot"....Think of "spot" as a type of basis line of Silver or any precious metal at the time. Right now it is so volatile that it is changing every 2 minutes. Back in the day, it may change every 20 minutes or so, and even, they were small subtle changes. Not so much now....Again, this is all brand new uncharted waters. Even the Hunt Brothers back years ago is much different than this, and when it hit $50 for just a short time, it was a big high. Now to me, all we can do is watch and wait this thing out if one is "holding"....if one wants to sell, go ahead and God Bless you.
