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Silver Monday morning down $2 or 13%

WingsruleWingsrule Posts: 2,983 ✭✭✭✭
in Precious Metals

I wonder if all those folks scrambling to buy Friday will honor their orders?

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    LukeMarshallLukeMarshall Posts: 1,914 ✭✭✭✭✭

    First PM purchase of 2020 Friday here....

    10oz of AG

    Your welcome

    It's all about what the people want...

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    bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    this is a buying opportunity if only there was silver for sale somewhere :D

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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭

    Apmex looks pretty light on inventory.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    isaiah58isaiah58 Posts: 385 ✭✭✭

    The major bullion dealers have updated their websites various ways. Most have removed items from being available. Several have posted that shipments could take 6 to 8 weeks. Pricing on silver is about $16 an ounce minimum for generic on limited sites, $18 plus is more likely. ASEs starting around $20. Many dealers have turned their eBay listings off, or pulled bullion all together: raw, unslabed, 90% pulled.

    Scottsdale is still adding auctions, just not as many. People are bidding their products up aggressively.

    Gold has similar restrictions and pricing.

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    jclovescoinsjclovescoins Posts: 1,853 ✭✭✭✭✭

    Physical silver is worth at least $16/ounce right now. The activity in the paper silver market is insane given what is going on right now. If someone told us the Fed would set rates near 0%, there would be this panic/hysteria, and the Dow lost 1/3 of its value in 2 weeks...I think 90% of us would have though silver to be at $25-$30/oz easily. It was trading at $19/oz. a little more than a week ago.

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    3stars3stars Posts: 2,282 ✭✭✭✭✭

    Apmex pretty much sold out of silver items...

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
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    Jinx86Jinx86 Posts: 3,673 ✭✭✭✭✭

    We locked our doors. Appointment only. Too little product too many people just asking questions and not wanting to pay a premium.

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    isaiah58isaiah58 Posts: 385 ✭✭✭

    @3stars said:
    Apmex pretty much sold out of silver items...

    No, they are just restricting sales. They would rather wait than set premiums too high. People are fickle, many do not understand the business so look at high premiums negatively regardless of the economic situation. Physical silver is a good buy at $16 an ounce or even $17. If the premium is too high psychologically then just wait.

    Back when I was a kid, silver was set around $3. I happily purchased art bars at $6.

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    3stars3stars Posts: 2,282 ✭✭✭✭✭

    @isaiah58 said:

    @3stars said:
    Apmex pretty much sold out of silver items...

    No, they are just restricting sales. They would rather wait than set premiums too high. People are fickle, many do not understand the business so look at high premiums negatively regardless of the economic situation. Physical silver is a good buy at $16 an ounce or even $17. If the premium is too high psychologically then just wait.

    Back when I was a kid, silver was set around $3. I happily purchased art bars at $6.

    I miss the days of a roll of ASE's for $125...

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
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    philographerphilographer Posts: 1,310 ✭✭✭✭✭

    The prices ASEs are fetching on eBay is insane. Rolls of 20 selling for north of $400. That's a premium of $140 over spot! What are people thinking?

    He who knows he has enough is rich.

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    blitzdudeblitzdude Posts: 5,464 ✭✭✭✭✭

    @philographer said:
    The prices ASEs are fetching on eBay is insane. Rolls of 20 selling for north of $400. That's a premium of $140 over spot! What are people thinking?

    Perhaps they are thinking the physical price has finally decoupled from the Atlantic city casino paper price or maybe $20 ASE just seems cheap compared to $30 rolls of toilet paper.

    The whole worlds off its rocker, buy Gold™.

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    jclovescoinsjclovescoins Posts: 1,853 ✭✭✭✭✭

    Physical silver cannot possibly only be worth $13.00 per ounce in the midst of everything going on. Lol

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    BaleyBaley Posts: 22,658 ✭✭✭✭✭

    @jclovescoins said:
    Physical silver cannot possibly only be worth $13.00 per ounce in the midst of everything going on. Lol

    It only costs 11 bucks on average to make new silver from dirt and rocks.

    Liberty: Parent of Science & Industry

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    BaleyBaley Posts: 22,658 ✭✭✭✭✭

    @Baley said:

    @jclovescoins said:
    Physical silver cannot possibly only be worth $13.00 per ounce in the midst of everything going on. Lol

    It only costs 11 bucks on average to make new silver from dirt and rocks.

    Less now that a worldwide depression

    Liberty: Parent of Science & Industry

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    rawteam1rawteam1 Posts: 2,472 ✭✭✭

    @jclovescoins said:
    Physical silver is worth at least $16/ounce right now. The activity in the paper silver market is insane given what is going on right now. If someone told us the Fed would set rates near 0%, there would be this panic/hysteria, and the Dow lost 1/3 of its value in 2 weeks...I think 90% of us would have though silver to be at $25-$30/oz easily. It was trading at $19/oz. a little more than a week ago.

    The actual price action is deja vu all over again...

    keceph `anah
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