dealers -> is it still hard to find silver to sell into the demand?
MsMorrisine
Posts: 33,077 ✭✭✭✭✭
and has the demand started to fade?
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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yes
I get numerous calls a day looking for silver. Don't have any, nobody coming in selling anything in the way of silver since outbreak. The only thing I have bought has been 1 oz gold, no local buyers at all for it , having to ship it out.
small gold when it comes in, been fairly easy to sell
Calls every day, every ten minutes actually. We have tons of silver, it's all sold already. We off load the semi directly to the shipping department and strip the pallets down and repackage for all the small orders going out. Im tempted to put both eBay stores on Vacation setting and work just phone sales and shipping out packages. Also still doing the normal scrap melting and assay work.
I am surprised at the demand for silver....I expected it to be more for gold, but I guess the cash crunch for people out of work explains that aspect...of course, the buying as prices escalates is always interesting to watch...
Cheers, RickO
Silver: poor man's gold.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
eBay is flooded with silver. The COMEX also has TONS if you want 1000oz bars, more than you could ever possibly afford to buy.
The whole worlds off its rocker, buy Gold™.
CME Stops and Issues Report Reveals that Bankers are Hemorrhaging Physical Silver in April
"The gold (or silver) spot price is calculated by averaging the net value of all gold futures contracts traded for the nearest month and is the price that is used to settle all gold derivative contracts and is the price that is normally used by all physical bullion dealers to price their products (although this obviously has not been the case for the past month or so with physical bullion dealer pricing). So if spot prices were higher than future prices then longs typically didn’t ask for physical delivery. However, because physical prices are so much higher than spot and future prices at the current time, the relationship between spot and futures prices has little bearing on the decision of longs to take physical delivery. With much higher real physical prices, and with supply chain disruptions and mine production being shut down entirely in nations (like Ecuador and Peru that I mentioned above), longs are standing for physical delivery."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
perhaps I should ave asked after there are some re-openings.
I'm thinking things are getting better, but physical silver is not confirming that.
It's been tough getting in at the store I work at, we've had more gold than anything!
My YouTube Channel
I see high prices in some cases online for silver. It's a bummer to see it
One AP had dealer pricing of $5.75 over for MBs of ASEs and sold em all.
Of course. Gold spot has been roaring up while silver spot is creeping up.
I don’t think it was 5.75% over for ASEs. No one is selling at that level. Maybe $5.75/oz over is what you meant. Big wholesale dealers are offering more than $4/oz over for ASEs
We have been cls> @jclovescoins said:
closer to 5-6 over for MB's, and quick sales at 7-9 over.
Thank goodness we have another employee Monday. He was on a 2 week lock down after they had to travel, flights rerouted and just looking out for the rest of the staff. His first day back is moving 1000 oz silver bars around, slight punishment.
Hi Jason -
Hope all is well. Are you saying 5-6 dollars over or percent over? 6% of spot is only $1.00. Thanks in advance for clarifying.
$$$$, no need for %'s in this market. Solid $$$ over. Which make it easier for me. Im not much of a math guy. I like to stick to me rare coins. Still should have held onto that roll of gold I sold you awhile back. You did well on it, I think I made 1.5% on the flip. I still dont move much for bullion personally, although Im finding it easier than coins at the moment.
yes it was $5.75 over and that was to dealers, not retail. they are paying $3 over. 1 ounce AGEs were going for 5.75% over
My guess is you get rid of your silver 1st when you need money.
Keep the gold until after you eat that can in the back.
My Saint Set
Like these 1000 ounce bars?
Woah nice!!!! Your personal stash?
I think the most I ever saw was 4, of course that was during the Hunt peak, so it was a lot of cash.
l> @BAJJERFAN said:
And silver was supposed to be rare the dealer told me. lol
The whole worlds off its rocker, buy Gold™.
Reminds me of when I brought a 300# anvil home.
I was paranoid someone was going to pull out in front of me.
My Saint Set
Like Pop Tarts, fresh out of the oven.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
It's a love hate thing. One of my favorites was a customer with 62 of those damn bricks in the back of a rental van with a mattress over top of themm he was sleeping on while transporting them to us. He had more then double the recommended weight on that axel. Some how it made the 1200 mile trip.
I wish. Someone on another site is/was selling them.
so who is starting the gofundme page for the poor dealers who are only getting $6 over spot per ounce?
@BAJJERFAN said “Like these 1000 ounce bars?”
Nice! I’ll volunteer to help move them.
Finding lots of silver online, nothing in store.
Gold is abundant, but with decreased cash flow, im unable to continue buying ounces of gold at this rate.
I wouldn't mind being a precious metals dealer, but i like my shinies too much to part with them. Also with all this money printing I cant help but feel that my money is worthless.
27000x $15= $405,000 . That's A lot of silver. BEAUTIFUL PICTURE
MIKE B.
I will pass it on to the owner if he still has them.
Cool thread. My biggest issue with silver is it takes up so damn much room. Did I mention it’s heavy too?
Dave
I love that room!
My YouTube Channel
A room full of silver .....
or...
Get both!!!
There is no shortage of silver or gold. Silver will only rise over $25 if the fraudsters want it to happen.
nm