Home Precious Metals

And the fun begins. . .

derrybderryb Posts: 36,032 ✭✭✭✭✭
edited January 30, 2021 11:36PM in Precious Metals

major bullion dealers on and off ebay have pulled most of their silver products while greatly increasing their premiums on what remains.

Appears to be wait and see. First clue will come when futures markets open Sunday evening. A knee jerk reaction will push spot much higher, only to prove to be temporary.

The decline from democracy to tyranny is both a natural and inevitable one.

«13

Comments

  • ScarsdaleCoinScarsdaleCoin Posts: 5,173 ✭✭✭✭✭

    I think you are missing the why. Demand for physical product has been off the chart. Dealers can’t restock so they must pull and or raise premiums. The ones that have some leftover product can sell and others who don’t know will get caught short

    Jon Lerner - Scarsdale Coin - www.CoinHelp.com
  • TPGSTPGS Posts: 207 ✭✭✭
    edited January 31, 2021 5:20AM

    Frog goes "Reddit Reddit".
    Please let this happen.

  • blitzdudeblitzdude Posts: 5,297 ✭✭✭✭✭

    Bulgarians?

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,032 ✭✭✭✭✭
    edited January 31, 2021 6:14AM

    @ScarsdaleCoin said:
    I think you are missing the why. Demand for physical product has been off the chart. Dealers can’t restock so they must pull and or raise premiums. The ones that have some leftover product can sell and others who don’t know will get caught short

    A lot of major bullion ebay sellers disappeared from the ASE tubes listings last night, yet none of them show up in completed sales for the last 24 hrs. I didn't check other forms of silver bullion but I can bet the ASEs or a good indicator that products are being pulled because sudden higher prices are expected. Without an open spot market it remains unknown.

    And why the sudden demand? Reddit attack? I think there is a valid question of exactly what affect all of this talk of going after the shorts with silver is going to do to the price in the short term. I believe price in the last few days is telling many sellers of silver to "wait and see." I suspect they believe there are even better profits to be made in the short term and then suddenly there will be much more silver available at the right price.

    This is what happens to the available supply when a sudden surge in price is viewed to be "right around the corner." If prices do not jump, look for supply to return.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • DrBusterDrBuster Posts: 5,300 ✭✭✭✭✭

    Don't fight the reddit boys! I might have to see what their play is and hop along.

  • derrybderryb Posts: 36,032 ✭✭✭✭✭

    From the CEO at SDBullion:

    "In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.

    In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).

    However, everyone we talk to is afraid of a gap up at Sunday night market open.

    This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.

    Our direct AP supplier informed us after close on Friday that the "US Mint will be on allocation for the remainder of Type 1" (Current Silver Eagle Design).

    Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history."

    The decline from democracy to tyranny is both a natural and inevitable one.

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    hop is what you want with a silver trade

    hop in then hop right out.

    they don't have the fire power to kill the silver shorts.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OriginalDanOriginalDan Posts: 3,707 ✭✭✭✭✭

    I’m sitting on a couple monster boxes. Let’s say the spot price jumped to $50, I’d sell one, maybe both of them, but how does one quickly dispose of such heavy items? This is the question I keep coming back to with the idea that redditers will drive up SLV. It’s one thing to drive up a stock, but another to buy or sell large quantities of silver.

    We also don’t know how the relation between SLV and spot will go, if such an event were to unfold.

  • tincuptincup Posts: 4,722 ✭✭✭✭✭

    Will be an interesting week.... new dynamics are in play.

    ----- kj
  • derrybderryb Posts: 36,032 ✭✭✭✭✭

    @MsMorrisine said:

    they don't have the fire power to kill the silver shorts.

    From a stacker point of view all they have to do is give them a good scare.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • derrybderryb Posts: 36,032 ✭✭✭✭✭

    tick tock, tick tock, tick . . .

    The decline from democracy to tyranny is both a natural and inevitable one.

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    plus, they have to fight world traders.

    the futures and spot markets are global markets.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 36,032 ✭✭✭✭✭

    @blitzdude said:

    "Till markets reopen Sunday?"
    Tells me it is not a supply (availability) issue, it is price (greed) issue.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭
    edited January 31, 2021 8:38AM

    they want to hedge.

    I bet they sold a lot when markets were closed and are scared to sell without a hedge.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • hchcoinhchcoin Posts: 4,825 ✭✭✭✭✭

    This will be a fun week. Everyone has an opinion but nobody really knows what is going to happen which creates great opportunities.

  • derrybderryb Posts: 36,032 ✭✭✭✭✭
    edited January 31, 2021 8:57AM

    Hey Blitz, is the crimex broken yet? lol

    The decline from democracy to tyranny is both a natural and inevitable one.

  • DNADaveDNADave Posts: 7,238 ✭✭✭✭✭

    Who all is pulling out their stack to look at where to start selling? I have about 15 rolls of 40% I’d like to dump first.

    Seems to me like this could be a flash in the pan and one may have to move fast to take advantage of the craziness.

  • johnny9434johnny9434 Posts: 27,329 ✭✭✭✭✭

    Wish the ruskies wouldn't interfere with it

  • blitzdudeblitzdude Posts: 5,297 ✭✭✭✭✭

    @derryb said:
    Hey Blitz, is the crimex broken yet? lol

    Depends how much money theses Reddit kids have and I suppose if the Bulgarians, Chinese, Indians and others decide to join the party. I will certainly be watching (and hopefully selling). 🍿🍿🍿

    The whole worlds off its rocker, buy Gold™.

  • OriginalDanOriginalDan Posts: 3,707 ✭✭✭✭✭

    @blitzdude said:

    @derryb said:
    Hey Blitz, is the crimex broken yet? lol

    Depends how much money theses Reddit kids have and I suppose if the Bulgarians, Chinese, Indians and others decide to join the party. I will certainly be watching (and hopefully selling). 🍿🍿🍿

    Well, we know some of them have a lot more than they used to, after taking their GameStop gains.

  • tincuptincup Posts: 4,722 ✭✭✭✭✭

    @jessewvu said:
    I wonder what it will feel like to drive a Ferrari

    Well, I don't know about a Ferrari.... but I could settle for a new F150 pickup!

    ----- kj
  • BochimanBochiman Posts: 25,278 ✭✭✭✭✭

    @blitzdude said:

    Depends how much money theses Reddit kids have

    Shouldn't just look down your nose at them....you do realize that many there are not "kids" but are actual adults with actual jobs, right?

    Sure, some are young, and in college, but many are past that point.

    Reminds me of the old story around Microsoft and the area.....a "kid" would go to a car dealership, dressed normally in jeans and a t-shirt, and would get ignored because salespeople stereotyped them as "kids with no money"....

    They had the money...from stock. People missed out.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • blitzdudeblitzdude Posts: 5,297 ✭✭✭✭✭

    @Bochiman said:

    @blitzdude said:

    Depends how much money theses Reddit kids have

    Shouldn't just look down your nose at them....you do realize that many there are not "kids" but are actual adults with actual jobs, right?

    Sure, some are young, and in college, but many are past that point.

    Reminds me of the old story around Microsoft and the area.....a "kid" would go to a car dealership, dressed normally in jeans and a t-shirt, and would get ignored because salespeople stereotyped them as "kids with no money"....

    They had the money...from stock. People missed out.

    Not looking down my nose at anyone. In fact I hope them little whippersnappers are able to take it TO DA MOON!

    The whole worlds off its rocker, buy Gold™.

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    So who's going to actually buy your tubes and monster boxes of ASEs when all this spikes tomorrow?

  • OriginalDanOriginalDan Posts: 3,707 ✭✭✭✭✭

    @dpoole said:
    So who's going to actually buy your tubes and monster boxes of ASEs when all this spikes tomorrow?

    I might call APMEX tomorrow just to see what they’re offering…out of curiosity.

  • CaptHenwayCaptHenway Posts: 31,442 ✭✭✭✭✭

    Where is the popcorn gif?

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • dagingerbeastttdagingerbeasttt Posts: 784 ✭✭✭✭

    @tincup said:

    @jessewvu said:
    I wonder what it will feel like to drive a Ferrari

    Well, I don't know about a Ferrari.... but I could settle for a new F150 pickup!

    Take mine, and the payments 😂😂

  • dennis1219dennis1219 Posts: 267 ✭✭✭

    Monster boxes selling for near 20K on eBay right now.

  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭

    Need the John Belushi Luz Taylor Heimlich move

  • OriginalDanOriginalDan Posts: 3,707 ✭✭✭✭✭

    @dennis1219 said:
    Monster boxes selling for near 20K on eBay right now.

    Some of that premium must be eBay fees though.

  • derrybderryb Posts: 36,032 ✭✭✭✭✭
    edited January 31, 2021 2:35PM

    Tick tock, tick tock

    Reminds me of the approach of midnight on 12/31/1999

    The decline from democracy to tyranny is both a natural and inevitable one.

  • jessewvujessewvu Posts: 5,063 ✭✭✭✭✭

    100oz silver bars started around 2900 this morning and are closing in the $3600, one over 4k.

    20 minutes until go time

  • softparadesoftparade Posts: 9,266 ✭✭✭✭✭

    @DrBuster said:
    Don't fight the reddit boys! I might have to see what their play is and hop along.

    They call each other "retards"
    Sorry if that slang word we all know offends anyone. But THAT THEY AIN'T

    ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    5

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭

    4

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    3

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • blitzdudeblitzdude Posts: 5,297 ✭✭✭✭✭

    Futures up 23%

    The whole worlds off its rocker, buy Gold™.

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    1

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭

    Opening print.

  • WingsruleWingsrule Posts: 2,977 ✭✭✭✭

  • blitzdudeblitzdude Posts: 5,297 ✭✭✭✭✭

    EPIQ! Go Gutter!

    The whole worlds off its rocker, buy Gold™.

  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 32,041 ✭✭✭✭✭

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
Sign In or Register to comment.