@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.
I'm bringing some of my rolls to a local shop tomorrow to see what they'd give. They've always been fair but I expect the spread to be pretty wide..
Which one?
You go to more of them than I do, in this area, but I have found, for bullion selling (and buying) that Redmond Rare Coins and Renton Coin Shop have been the most fair when I have sold.
The only way the COMEX bankers will be beat is by sellers refusing to lower physical prices in step with a declining spot. As of this morning this appears to be the case as spot drops and premiums stick. However, unlike the futures market physical silver trades in a free market where competition among sellers and buyers determines price equilibrium and for that reason, as always, sellers will lower their premiums. And because the physical market is not under the control of anyone except the participants, buyers who are looking at spot price will slowly refuse to pay the high premiums.
Experienced silver buyers are the first to say "I'm not paying these high premiums." It is because then know high premiums will eventually cure themselves. They know this because they know COMEX will reduce physical demand with a lower spot. Until the speculative buyers on the actual futures exchange, who simply want profit, see a physical market that is defiantly disobeying the norm and in turn follow suit with a disregard to bullion bank shenanigans such as higher margin requirements, COMEX will always control the price of physical silver.
Peter Schiff has the right idea:
"So, rather than buying overpriced stocks supposedly to make a point and a political statement, you can make a much better political statement, a much better point by buying some physical silver and buying some silver stocks, because then you could stick it to the billion dollar banks who are short and also make some money for yourself. That is a much better outcome.”
"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
Gosh that was fun!
Today let’s all go out and tease skunks!
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.
@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.
I'm bringing some of my rolls to a local shop tomorrow to see what they'd give. They've always been fair but I expect the spread to be pretty wide..
Which one?
You go to more of them than I do, in this area, but I have found, for bullion selling (and buying) that Redmond Rare Coins and Renton Coin Shop have been the most fair when I have sold.
Agree
Both good shops Ron
"Inspiration exists, but it has to find you working" Pablo Picasso
recent events only show how tightly compressed the silver spring is. Lots of kinetic energy just waiting to be released.
"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
@Baley said:
Also shows how much silver people like us are waiting to unload, the moment it rises a couple of dollars.
And this is why there is no real shortage and likely to never be a shortage. . . until a major currency crisis points out the need to hold your silver. The FED has thus far prevented such a scenario by releasing only a little bit of unnoticed crisis at a time (inflation). Those that do notice are called "stackers."
"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
Botched program that could not be struck until very late in the year because the Mint did not have a press that could strike the coins and had to order one from Germany. Late start meant a relatively low (at least it seemed so at the time, but check the 2011 and 2012 mintages) number of pieces to fill the high collector demand for a new toy. Certain distributors that had pre-sold sets of them (they all came out at the same time but not in sets) tried to dishonor their sales so they could sell them to other people for a lot more money. People screamed. The Mint listened.
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.
Botched program that could not be struck until very late in the year because the Mint did not have a press that could strike the coins and had to order one from Germany. Late start meant a relatively low (at least it seemed so at the time, but check the 2011 and 2012 mintages) number of pieces to fill the high collector demand for a new toy. Certain distributors that had pre-sold sets of them (they all came out at the same time but not in sets) tried to dishonor their sales so they could sell them to other people for a lot more money. People screamed. The Mint listened.
That's how I remember it as well...had nothing to do with actual price of silver...had everything to do with limited mintages and scalpers (the APs) wanting to get the highest they could and not really what they had agreed to (which was still profitable) with the USMint as they were the only ones to get them and were to distribute them fairly
Botched program that could not be struck until very late in the year because the Mint did not have a press that could strike the coins and had to order one from Germany. Late start meant a relatively low (at least it seemed so at the time, but check the 2011 and 2012 mintages) number of pieces to fill the high collector demand for a new toy. Certain distributors that had pre-sold sets of them (they all came out at the same time but not in sets) tried to dishonor their sales so they could sell them to other people for a lot more money. People screamed. The Mint listened.
That's how I remember it as well...had nothing to do with actual price of silver...had everything to do with limited mintages and scalpers (the APs) wanting to get the highest they could and not really what they had agreed to (which was still profitable) with the USMint as they were the only ones to get them and were to distribute them fairly
Good Times! I can remember how each authorized seller had their own bespoke ordering and payment methods etc. And then a refund from APMEX.
Comments
Which one?
You go to more of them than I do, in this area, but I have found, for bullion selling (and buying) that Redmond Rare Coins and Renton Coin Shop have been the most fair when I have sold.
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
I'm probably going to move my 100 oz bars today. A local bullion dealer is offering spot +$1.
Here's a warning parable for coin collectors...
GAINSTOP!
Loves me some shiny!
And I should have sold it all yesterday and bought it back today.....
Successful transactions with: Lakesammman, jimineez1, Flackthat, PerryHall, bidask, bccox, TwistedArrow1962, free_spirit, alexerca, scooter25, FHC, tnspro, mcarney1173, moursund, and SurfinxHI (6 times)
Hard to beat someone who gets to change the rules.
The only way the COMEX bankers will be beat is by sellers refusing to lower physical prices in step with a declining spot. As of this morning this appears to be the case as spot drops and premiums stick. However, unlike the futures market physical silver trades in a free market where competition among sellers and buyers determines price equilibrium and for that reason, as always, sellers will lower their premiums. And because the physical market is not under the control of anyone except the participants, buyers who are looking at spot price will slowly refuse to pay the high premiums.
Experienced silver buyers are the first to say "I'm not paying these high premiums." It is because then know high premiums will eventually cure themselves. They know this because they know COMEX will reduce physical demand with a lower spot. Until the speculative buyers on the actual futures exchange, who simply want profit, see a physical market that is defiantly disobeying the norm and in turn follow suit with a disregard to bullion bank shenanigans such as higher margin requirements, COMEX will always control the price of physical silver.
Peter Schiff has the right idea:
"So, rather than buying overpriced stocks supposedly to make a point and a political statement, you can make a much better political statement, a much better point by buying some physical silver and buying some silver stocks, because then you could stick it to the billion dollar banks who are short and also make some money for yourself. That is a much better outcome.”
"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
So how long before premiums get back to what they were a couple of weeks ago.
Jim
start the clock ........ NOW!
Gosh that was fun!
Today let’s all go out and tease skunks!
Agree
Both good shops Ron
"Inspiration exists, but it has to find you working" Pablo Picasso
do the weekend people reneg?
recent events only show how tightly compressed the silver spring is. Lots of kinetic energy just waiting to be released.
"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
Anyone in this forum in indiana?
Also shows how much silver people like us are waiting to unload, the moment it rises a couple of dollars.
Liberty: Parent of Science & Industry
And this is why there is no real shortage and likely to never be a shortage. . . until a major currency crisis points out the need to hold your silver. The FED has thus far prevented such a scenario by releasing only a little bit of unnoticed crisis at a time (inflation). Those that do notice are called "stackers."
"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
See this thread:
https://forums.collectors.com/discussion/comment/9221711#Comment_9221711
Botched program that could not be struck until very late in the year because the Mint did not have a press that could strike the coins and had to order one from Germany. Late start meant a relatively low (at least it seemed so at the time, but check the 2011 and 2012 mintages) number of pieces to fill the high collector demand for a new toy. Certain distributors that had pre-sold sets of them (they all came out at the same time but not in sets) tried to dishonor their sales so they could sell them to other people for a lot more money. People screamed. The Mint listened.
That's how I remember it as well...had nothing to do with actual price of silver...had everything to do with limited mintages and scalpers (the APs) wanting to get the highest they could and not really what they had agreed to (which was still profitable) with the USMint as they were the only ones to get them and were to distribute them fairly
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
Good Times! I can remember how each authorized seller had their own bespoke ordering and payment methods etc. And then a refund from APMEX.
Loves me some shiny!