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Hesitant to buy more silver at these extreme premiums?

LuxorLuxor Posts: 398 ✭✭✭✭✭

I have never seen these types of premiums over spot for bars, eagles, maples, etc. Are you hesitant to add to your silver holdings feeling these premiums may collapse back to previous levels anytime soon?

Your hobby is supposed to be your therapy, not the reason you need it.

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Comments

  • chesterbchesterb Posts: 961 ✭✭✭✭✭

    Yes, I am in a holding pattern right now. The problem is I don't see it improving any time soon. It may fluctuate into the low $20's but I tend to think it will be around this range for awhile. Save up for the black Friday sales!

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I believe silver will stay at this level - with the occasional dip and rise - for the foreseeable future.... So much depends on the U.S. and geopolitical economies.... A spectacular rise could easily happen.... That being said, I do not foresee a return to even $14 dollar silver of a year ago or so. Cheers, RickO

  • blitzdudeblitzdude Posts: 5,278 ✭✭✭✭✭

    Premiums will come down just as they always do. As a matter of fact they already have been.

    The whole worlds off its rocker, buy Gold™.

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

    Once the reddit crowd run is done they should come down. I did pick up some 'designer' skull silver a few weeks ago that I paid more than I'd like to have, but I hadn't made a buy in over a year and the premium was less than ASEs/etc.

  • bestmrbestmr Posts: 1,761 ✭✭✭

    I know I need to buy a bunch of different rounds for some albums but have been holding for while.

    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • DNADaveDNADave Posts: 7,238 ✭✭✭✭✭

    I’ll buy again if I can get generic Morgan and peace dollars in the 15-18 range. Maybe 20. But I’m holding for 35-40 spot to sell.

  • derrybderryb Posts: 36,013 ✭✭✭✭✭

    @blitzdude said:
    Premiums will come down just as they always do. As a matter of fact they already have been.

    ASE are holding strong at over $35 an oz. With spot dropping this means premiums are actually increasing.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,278 ✭✭✭✭✭

    Good thing there's more gutter metal than just ASEs. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • AzurescensAzurescens Posts: 2,665 ✭✭✭✭✭
    edited April 11, 2021 3:29AM

    @Luxor said:
    I have never seen these types of premiums over spot for bars, eagles, maples, etc. Are you hesitant to add to your silver holdings feeling these premiums may collapse back to previous levels anytime soon?

    No. If anything, I've steeled my resolve against market manipulation and have gone all-in.

    It's reasonably OK to FOMO buy in markets like these because there will continue to be wiggle room in price. If you mess up too badly, just wait longer. It's legitimately bulletproof.

    COMEX is collapsing. Mints are lying about inventory, the media is telling us not to worry and to sell. The US mint made record numbers of eagles but had record lows of silver/gold pulled out of the ground.. something is fishy.

    The stock market is crashing, USD is toast, hyperinflation is here and unemployment and homelessness is out of control.

    Any premium paid now will be negligible when the price is $200/oz. People are paying that for some proof eagles, Australian HR proofs, modern commems, Royal Mint and burnished. People will continue to pay at least this price when nothing else is left.

    Any sub $100 eagle proof + time = profit. The market being suppressed like this is just gonna make the finale so much worse. So keep stacking as much as you can.

    Always be wary of the people here who try to make you feel negatively about spending or investing your own money.

  • thefinnthefinn Posts: 2,652 ✭✭✭✭✭

    Yes, so I bought foreign gold fractionals in AU-Unc.

    thefinn
  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    There's this thing called "normalcy bias" which tends to make you think that everything will continue normally as before - sometimes even in the face of contrary evidence.

    The normal expectation would be that we have seen all of this before, and that things will normalize as usual, as things get back together, etc., and that the silver premiums will recede to their previously low numbers.

    In too many cases, everything hinges upon where you obtain your news information. Mike Lindell just put out a video entitled "The Absolute Proof" which I believe to be quite compelling and worrisome.

    in any event, I think it's very difficult to predict when premiums will go down, but what will that portend for the price of silver in the meantime? Some of the things I'm seeing and reading seem to indicate that silver will be spiking at some future point - possibly in the near term. In my mind, you just never know.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • chesterbchesterb Posts: 961 ✭✭✭✭✭

    I sleep on regular pillows and have no trouble falling asleep!

  • MsMorrisineMsMorrisine Posts: 32,012 ✭✭✭✭✭

    my neck is bent

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Whats worrisome is that you would believe such.

    It's worrisome that you would say that before watching the documentation.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    edited April 12, 2021 4:18AM

    @jmski52 said:
    Whats worrisome is that you would believe such.

    It's worrisome that you would say that before watching the documentation.

    I have common sense.

    However, the disclaimer by OAN prior to showing does indicate comedic relief.

    The statements and claims expressed in this program are presented at this time as opinions only and are not intended to be taken or interpreted by the viewer as established facts

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • carew4mecarew4me Posts: 3,459 ✭✭✭✭

    The statements and claims expressed in this program are presented at this time as opinions only and are not intended to be taken or interpreted by the viewer as established facts

    CNN/MSNBC should also run this as a continuous chyron.


    Loves me some shiny!
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @carew4me said:

    The statements and claims expressed in this program are presented at this time as opinions only and are not intended to be taken or interpreted by the viewer as established facts

    CNN/MSNBC should also run this as a continuous chyron.

    Yes....as should all of the opinion programs that masquerade as "news". Your list is not exhaustive.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Again, you have no idea what is being presented unless you take the time to view the video. Only then can you make an assessment.

    Be as skeptical as you want, but as long as you regard what he is making public as some sort of comedic spoof, you are only blowing smoke and your opinions on the subject are limited to your own bias.

    Since the case is most likely going to the Supreme Court, and since he has compelling information that affects you, and every other US citizen in important ways, I would think that you are smart enough to understand the ramifications.

    Don’t say later that you weren’t given a heads-up.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    I know what his documentary is about. The only thing he is making public is a bunch of made up nonsense. If that floats your boat then paddle away.

    I surprised YOU find him compelling and not blowing smoke. Isnt your bias showing? Fertile is the mind that is full of manure.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭
    edited April 12, 2021 9:50AM

    I've watched the video, but YOU seem to know more about it than me.

    That being the case, I can't give much of what you say any credibility. Maybe that's the point.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    edited April 12, 2021 9:58AM

    @jmski52 said:
    I've watched the video, but YOU seem to know more about it than me. Interesting.

    It comes with a disclaimer saying one shouldnt view it as fact. ts all made up BS. What else do I need to know? If im going to waste 2 hours watching fiction then I'll watch Kong vs Godzilla.

    You are corrrect about the ramifications to a society of the dissemination and proliferation of telling lies. Unfortunately we've all seen that movie.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Now, you are saying that a disclaimer means that something you have not viewed or evaluated yourself is a lie.

    Think about that for a moment. You are painting yourself into a corner where nobody can believe you because you have no credibility.

    You are shooting from the hip with only your own bias as “support” for your belief. As I pointed out - I’ve seen the video - and you have not.

    Que sera, sera.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • HigashiyamaHigashiyama Posts: 2,132 ✭✭✭✭✭

    In the early days of these boards, there was a small but vocal group who sincerely believed that the moon landings were fake. If I were pointed to a documentary purporting to defend this thesis, I would politely decline an invitation to watch. Having a strong grasp of the facts, I would not need to watch the documentary in order to know it is false.

    Higashiyama
  • ashelandasheland Posts: 22,558 ✭✭✭✭✭

    I'm holding out for normal premiums.

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    @Higashiyama said:
    In the early days of these boards, there was a small but vocal group who sincerely believed that the moon landings were fake. If I were pointed to a documentary purporting to defend this thesis, I would politely decline an invitation to watch. Having a strong grasp of the facts, I would not need to watch the documentary in order to know it is false.

    As I recall, that thread went on for a few thousand posts. :D

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

    it did

  • MilesWaitsMilesWaits Posts: 5,296 ✭✭✭✭✭
    edited April 12, 2021 5:08PM

    Ugh. Back to loving precious metal.

    Now riding the swell in PM's and surf.
  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭
    edited April 12, 2021 4:57PM

    against all simple evidence and intact judgment. And then the in defense of these biases, the projection of gaslighting occurs.

    Have you bothered to view the video?

    What would you call it, Miles - when the evidence is suppressed to the extent that it is not even presented? Or perhaps when mass censorship occurs only in one direction?

    Which is the stronger - normalcy bias or confirmation bias?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MsMorrisineMsMorrisine Posts: 32,012 ✭✭✭✭✭

    @MilesWaits said:
    Ugh. Back to loving precious metal.

    like the ones we'll mine on the moon? ha ha

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 32,012 ✭✭✭✭✭

    anyway. since we don't mine "the moon" my personal recommendation would to buy to add but not sell unless you can get a bit back of ask. oh, you can't get a bit back of ask when selling. so I don't recommend selling.

    anyway, ignore me on that if you will, but the buy-sell spread is wide. better be sure you can make up that spread if you do decide to convert.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • sumrtymsumrtym Posts: 394 ✭✭✭

    @jmski52 said:
    What would you call it, Miles - when the evidence is suppressed to the extent that it is not even presented? Or perhaps when mass censorship occurs only in one direction?

    Now I've heard it all. It's not that there's no evidence because it's complete bs, it's just mass suppression of the evidence never presented.

    I now point you to the flat earth society. I'm sure they have an equally compelling video out there that will REALLY blow your mind.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Now I've heard it all. It's not that there's no evidence because it's complete bs, it's just mass suppression of the evidence never presented.

    Have you watched the video?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    edited April 13, 2021 3:06AM

    @jmski52 said:
    Now I've heard it all. It's not that there's no evidence because it's complete bs, it's just mass suppression of the evidence never presented.

    Have you watched the video?

    Watching it will not make it true.

    And to the OP...be wary of excessive premium, especially when there are reasonable alternatives.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Watching it will not make it true.

    Not watching it doesn't make it untrue. For someone who purports to be a knowledgeable market observer and/or analyst, your unwillingness to look at detailed information about something that will be vitally important to your own situation - the blinders you wear won't begin to help you.

    I'll back off now, if you don't get it now you probably never will, and that's on you.

    And to the OP...be wary of excessive premiums, but be advised that the "reasonable alternatives" are nothing more than paper, i.e. - they are only derivatives contracts that have no accountability (which may be important when they blow up).

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    Jmski...fake is fake. Repeating it 1000x, or making a video, or shouting it loudly, doesn't make it truth.

    They say 5% of the US population believes as you do. In my travels and discussions with others i believe that number is higher. In any case, 5% is about 17 million people. Thats the population of Wyoming, Alaska, Vermont, New Hampshire, Delaware, North Dakota, South Dakota, Rhode Island, Montana, Maine, Nebraska, Hawaiii, Idaho and West Virginia combined.

    If you dont get it by now, well, thats on you.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • LuxorLuxor Posts: 398 ✭✭✭✭✭

    @asheland said:
    I'm holding out for normal premiums.

    I think I'm with you. I don't see how these massive premiums over spot can be the new norm? I mean $11.00 over spot for a 2021 silver eagle and $5.00 over for a 10 oz silver bar......seriously??

    Your hobby is supposed to be your therapy, not the reason you need it.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,750 ✭✭✭✭✭

    @Luxor said:

    @asheland said:
    I'm holding out for normal premiums.

    I think I'm with you. I don't see how these massive premiums over spot can be the new norm? I mean $11.00 over spot for a 2021 silver eagle and $5.00 over for a 10 oz silver bar......seriously??

    I paid $9.75 over spot for silver eagles in the past few months. This, from one of the APs. And this was $.75 less than my regular supplier. The wait time: 7 weeks from order date. 6 weeks from payment date. Was told it would be faster if the money was wired. A week faster. 6 weeks out and the premiums are over twice what I've charged customers for a decade. Go fish. Blame the pandemic or the "manipulators" or inflation.

    My customers tell me there's no way they could do this business. Beans and rice diet.

  • derrybderryb Posts: 36,013 ✭✭✭✭✭

    Are premiums too high or is spot to low?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,750 ✭✭✭✭✭

    Spot is, in my opinion, disconnected from reality. Or maybe I am.

  • HigashiyamaHigashiyama Posts: 2,132 ✭✭✭✭✭

    As I’ve said before, if you want 5000 ounces, you can buy it at spot.

    Perhaps we have become spoiled by prior low premiums over spot on tiny units like one ounce or ten ounces or even 100 ounces.

    Try going to your gas station and offering spot for gas. Or perhaps try buying 5 pounds of wheat for spot at a farmer’s market.

    Higashiyama
  • derrybderryb Posts: 36,013 ✭✭✭✭✭
    edited April 13, 2021 9:19PM

    Historically the current spot/premium spread is not normal. What is it telling us?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,278 ✭✭✭✭✭

    @derryb said:
    Historically the current spot/premium spread is not normal. What is it telling us?

    It's 2011 all over again? Look out below?

    The whole worlds off its rocker, buy Gold™.

  • HigashiyamaHigashiyama Posts: 2,132 ✭✭✭✭✭

    @derryb asked: “ Historically the current spot/premium spread is not normal. What is it telling us?”

    Possibly that there are many people with moderate incomes/assets trying to use
    silver as a means of diversifying into tangible assets. Producers are either having trouble fabricating enough smaller coins/bars or perhaps are finding that the consumer is not especially price sensitive, and are not motivated to compete on price, at the moment.

    Here’s a basic question (to which I don’t know the answer): what is the fabrication cost per ounce of an ASE, assuming the starting point is 1000 ounces bars, and everyone along the line after that breaks even? Ignore distribution costs—assume simply that the 1000 ounce bars are turned into coins and left at a secure warehouse.

    Higashiyama
  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭
    edited April 13, 2021 10:06PM

    They say 5% of the US population believes as you do. In my travels and discussions with others i believe that number is higher. In any case, 5% is about 17 million people.

    You are off by a factor of, oh gee, let me think....................1000% if my math is correct. You are discredited in my book.

    The latest Rasmussen Reports national telephone and online survey finds that just 29% of Likely U.S. Voters say laws requiring photo identification at the polls discriminate against some voters. Sixty-two percent (62%) say voter ID laws don’t discriminate. (To see survey question wording, click here.)

    A majority (51%) of voters believe it is likely that cheating affected the outcome of the 2020 presidential election, including 35% who say it’s Very Likely cheating affected the election.

    Cheating. as in "watch the video and judge for yourself".

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    edited April 14, 2021 5:12AM

    Dude...reading comprehension not too good? Did you not read where i wrote "i believe the number is higher".

    Lol....so since you cant read a simple sentence, perhaps everything you say should be discredited.

    And BTW---your math is not correct. There just arent enough people for your numbers to work.

    And the video is still nonsense.

    If.you would like to discuss this further, send me a PM.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • AzurescensAzurescens Posts: 2,665 ✭✭✭✭✭

    You guys have no idea how pleasant it is to be here with cohodk, msmorrisine, and blitzdude blocked. It's a completely different forum - like some real Twilight Zone stuff. Once you step back and realize they're not real users with genuine opinions, but are paid trolls, every negative, judgmental, rude or critical thing these users regularly say makes sense. It's also easy to see how like 90% of the conversation here is dominated by these three accounts. When you ignore a user it blurs out their post, and blocking these three users blocks a huge bulk of the content posted here. It is actually kinda stunning.

    All the things they say about other people are highly critical. The complete absence of anything positive or helpful from these people is suspect. They 1. attack the person, 2. attack the source, 3. drop logical fallacies, and do things like berate precious metals. Why don't they ever post their stacks, positions, or make trades, share fun coin stories? Simple: they are not genuine users.

    This is a precious metals forum and we all love stacking which is why we are here, right? So why all the rampant, consistent insults, negativity, and derogatory statements? We are all making money. Why would you advise people against metals and why speak against your money printer?

    Here is a link of resources I put together that I would like @PCGS_SocialMedia to please take a look at. We all pay a lot in grading fees and membership fees.. please give this forum a moment of your time. (And hi @PerryHall and @derryb).

    https://forums.collectors.com/discussion/1054829/a-gentlepersons-guide-to-forum-spies-disinformation-and-precious-metals

    https://www.cits.ucsb.edu/fake-news/spread

    Trolls, in this context, are humans who hold accounts on social media platforms, more or less for one purpose: To generate comments that argue with people, insult and name-call other users and public figures, try to undermine the credibility of ideas they don’t like, and to intimidate individuals who post those ideas. And they support and advocate for fake news stories that they’re ideologically aligned with. They’re often pretty nasty in their comments. And that gets other, normal users, to be nasty, too.

    In the biggest bull run of our lifetimes, why isn't this sub forum swarming with new users? There is nothing here positively fostering community when you have users like these. Then, they abuse your ban policy to bait new users into permabans. Effectively, no new people, and all the old ppl wonder why they even bother.

    Four of the subreddits I visit have +100k members each since lockdown. Why are none of those people coming here? 400k at best 100k at worst. PCGS is the biggest name in the game.. doesn't any of this throw up instant red flags for anyone else? Like BIG red flags? Why so many Twitter and Facebook followers but your private website is stone dead?

    Trolls have completely dominated this "space" and keep it full of negativity, lies, and propaganda. They've effectively "shut down the conversation" to the detriment of PCGS's business.

    ALWAYS question if someone is trying to make you feel negatively about how you spend your own money (or about anything, really).


  • derrybderryb Posts: 36,013 ✭✭✭✭✭
    edited April 17, 2021 9:04AM

    Who do I talk to about getting paid? I should get a least half of coho's check.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • DrBusterDrBuster Posts: 5,300 ✭✭✭✭✭
    edited April 17, 2021 1:54PM

    The reddit pm crowd is not tied in with the coins crowd that knows about pcgs...or kitco....or ngc.

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @derryb said:
    Who do I talk to about getting paid? I should get a least half of coho's check.

    Yes you should.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

This discussion has been closed.