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How much physical silver (coin or bars) is currently available for sale?

cohodkcohodk Posts: 18,493 ✭✭✭✭✭

Sitting in pawn shops, coin dealers, message boards, flea markets, online retailers, etc. How much money would it take to buy up all the available silver offered for sale today?

Excuses are tools of the ignorant

Knowledge is the enemy of fear

Comments

  • HigashiyamaHigashiyama Posts: 2,133 ✭✭✭✭✭

    What percentage of all the silver in private hands is currently for sale? I could probably do a plausible back of the envelope to estimate the total silver out there, but I have no idea how much is for sale at any given time. Do you have any data or a plausible guess? Maybe 5-10 percent?

    Higashiyama
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    Lets assume that silver in private hands is "locked up" and not for sale.

    If folk went into every retail outlet for silver this weekend and bought every ounce of inventory, how many ounces would be bought?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • HigashiyamaHigashiyama Posts: 2,133 ✭✭✭✭✭
    edited June 25, 2021 10:57AM

    But I’m guessing it’s easier to estimate the amount available retail if you know the total amount (not for sale plus for sale). I think people have already estimated that, and if not, I might know where to start. Then I’d try to somewhat intelligently pick a number out of the air to guess at the for sale part.

    Or, could we begin by looking at total annual sales? Presumably the silver industry has an estimate for that. New sales of bullion coins of course is easy. What’s the relationship of annual sales to inventory?

    In any case, as you pointed out in another thread, the value of silver refined or recycled each year is remarkably small.

    Higashiyama
  • MsMorrisineMsMorrisine Posts: 32,039 ✭✭✭✭✭

    what's the game behind this thread?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 36,017 ✭✭✭✭✭

    @MsMorrisine said:
    what's the game behind this thread?

    101 questions, but you have to answer with a question. lol

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

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭

    An absolutely enormous amount.

    Of course, any significant additional demand would drive prices up and up (and scrap recovery, and mining, would also ramp up)

    As the price approaches $50/oz, most experienced stackers would dump... fooled me twice, not gonna fool me again 😉

    Liberty: Parent of Science & Industry

  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    Hundreds of millions of ounces currently for sale just as there always is. Another generation suckered into the great silver shortage conspiracy paying astronomical premiums. Business has been wonderful!

    The whole worlds off its rocker, buy Gold™.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,758 ✭✭✭✭✭

    Enough. That's as close a guess as I can get.

  • bronco2078bronco2078 Posts: 9,961 ✭✭✭✭✭

    about 50 oz. at my antique booth I did not reprice anything for the dip and there was a 3 day pause but buying has resumed .

    Sold 20 circulated un pesos (the 72% .39 oz type) for 13 bucks each today . A favorite of mine but they don't sell in roll quantities so I'm divesting myself of stuff like that . Same guy bought 10 a week or so ago at the same price when spot was higher . At the recent spot drop he waited for a possible price drop by me, saw it wasn't happening so he bought them regardless

  • MsMorrisineMsMorrisine Posts: 32,039 ✭✭✭✭✭

    How many 1,000 ounce bars are available.

    Where does excess mined silver go?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • tincuptincup Posts: 4,721 ✭✭✭✭✭

    Will certainly take more money than I have. Do you have some inside info to share?

    ----- kj
  • derrybderryb Posts: 36,017 ✭✭✭✭✭

    It's all for sale. . . at the right price.

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

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    edited June 25, 2021 7:04PM

    @MsMorrisine said:
    what's the game behind this thread?

    No game.

    We keep hearing that the way to beat "them" is to gobble up all the available physical silver. So how much is this?

    In the other thread it was shown that there has been more ounces supplied than demanded for most of the last decade. Where are those excess ounces? How many years has there been excess? How much silver sits in the average coin shop?

    Is there 30 million, 300 million, 3 billion, or 30 billion ounces available?

    So how much money would it take to put all the physical silver currently sitting in cases or warehouses to get "locked up"?

    Im not asking about grandma's Christmas silverware becoming available "at the right price", but as of today, right now, how much money would it take to buy out every coin shop, flea market, Apmex, ect?

    Can we arrive at any educated, or even remotely logical estimates?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • rte592rte592 Posts: 1,384 ✭✭✭✭✭
    edited June 25, 2021 7:01PM

    Just for $hits&giggles

    Go to ebay
    Check sold listings for a 24 hour period
    Times that by 1000 and your in the ballpark.

    Hell I'll make it easier for you.
    Check sold listings for the last 2 hours and times by 12, then times that by 1000.

    Report back when you have the number.
    Thanks,

  • HigashiyamaHigashiyama Posts: 2,133 ✭✭✭✭✭

    @rte592 - that’s an interesting suggestion; I think your hypothesis is that total inventory is roughly three times annual ebay sales? I’d guess more than that. Presumably ebay sales are a small fraction of the total.

    Higashiyama
  • HigashiyamaHigashiyama Posts: 2,133 ✭✭✭✭✭

    Does anyone have a guess as to what percent of “investment” silver sales are in the form of ASEs?

    Higashiyama
  • blitzdudeblitzdude Posts: 5,284 ✭✭✭✭✭

    @Higashiyama said:
    Does anyone have a guess as to what percent of “investment” silver sales are in the form of ASEs?

    Almost 600 Million ASEs minted up to this point. Very doubtful many have been melted back down so you have well in excess of half a billion ounces right there. I know it doesn't answer your question but the pumpers are always spouting some conspiracy about there only being about a billion ounces of above ground silver. It's total BS. Add in all the other government mints, all the old 80-90% junk, private mints, 1000 ounce comex bars etc. and it's BILLIONS. Then you have silverware, trinkets, jewelry etc. It's gutter!

    The whole worlds off its rocker, buy Gold™.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I will not even begin to send this beautiful day into an exercise in futility. ;) Too many other, really interesting, things to do. I have silver, in various forms. I will get more silver, if it appeals to me. Moving on now... ;) Cheers, RickO

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    So the consensus is that there is way too much silver available for the general public, with all their collective wealth, to corner the physical market?

    Or, perhaps the larger tone expressed here, is that the collective doesnt care?

    We see these "meme" stocks and cryptos rocket into the stratosphere and dream of one day that happening with our silver, yet we seem to be quite apathetic.

    If there are a billion ounces sitting in inventories waiting to be bought, then why cant we come up with $30 billion to buy it? Heck, the Govt sent us $500 billion just a few months ago, and twice that a year ago.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,758 ✭✭✭✭✭
    edited June 27, 2021 6:06AM

    Since governments removed ALL the real money made of silver out of circulation in the world, it is reasonable to say there is no fixed amount of money which could buy it all. Fiat money is impossible to compare to the real deal. There is not enough money when the universe is in a deficit. I mean a big hole. And when those same governments sell a silver dollar for $75 .... do the math. It's One dollar for $75.

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