silver holders getting screwed
jclovescoins
Posts: 1,911 ✭✭✭✭✭
Yikes! My timing has been off this year. Every time I buy, it plummets the next few days. From a high of around 30 to 22 - that's a pretty steep drop. 27%...
It seems like the macroeconomic factors all point to a HIGHER silver price, not a lower. Getting a little frustrated with the recent price action.
Yeah, I'm sure the $4.00 per oz people will comment, but it's worth more than that.
I really thought we would see $50 this time around of the silver cycle, but looks to be going under $20 easily. Much to my disappointment.
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Market fundamentals went out the window the moment the FED crawled thru the window. Good news: it's temporary. Bad news: For how long?
One only consider the future of the currency to determine what to hold for the long term.
"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
You've been listening and reading to the wrong fortunetellers...All you have to do, review their previous forecasting history. It's an abysmal record and the few that hit the nail on the head are now incognito vacationing in the South Pacific.
As Aye hole rose once said "Welcome to the Gutter".
The whole worlds off its rocker, buy Gold™.
The stackers I sold silver to at $40 have disappeared. The stackers I sold silver to at $30 have, too.
The stackers buying at $25-$28 are in abundance.
Just ordered another 500 ounces yesterday and most of it is spoken for at $26.
I don't know if there is a bottom or top. I know this ride down kinda sucks. And I feel for those who have none at all. . It's almost always too expensive for them.
Silver holders are only screwed if they purchased high and are now selling.... Not screwed at all if still holding... And those that purchased at single digits are still laughing.... Cheers, RickO
By paying the current premium, yes, I think you are getting screwed.
By the price going down compared to the FR Fiat currency, no. It is insurance. As long as you have the same number of ounces you haven't lost everything.
Human nature says to buy when things are going up. You need to buy when it is going down. Now is a great buying time if you find someone is panicking and selling.
Prices do not move on news. News isn't doing the buying or selling. There is no consistent demonstrated causality between a news event and the price.
Even with the Federal Reserve, it's only misplaced optimism that enables this agency to practice such reckless monetary policy without the consequences expected by metal advocates.
You've been listening and reading to the wrong fortunetellers...
He says that his timing is off and that his interpretation of current the macroeconomics led him to think that the price would be going up. I don't see where he says that he made his buying decisions based on anyone else's opinions.
What seems apparent to me is that he is trying to time the market, and I happen to agree with derryb that "Market fundamentals went out the window the moment the FED crawled thru the window."
Trying to time the silver market has never been that easy. Ask blitzie - he's still got a bee in his bonnet because he couldn't time it right either.
I knew it would happen.
Stacking is for the day the stuff really hits the fan. With that mindset these highs and lows don't matter. This money printing is going to catch up with us. When? I don't know but at some point lunacy has to come to an end.
Stacking is for the day the stuff really hits the fan. With that mindset these highs and lows don't matter. This money printing is going to catch up with us. When? I don't know but at some point lunacy has to come to an end.
This
+1
I knew it would happen.
all the local buyers (mostly newbies) buying frantically at 28-30 6 months ago and paying huge premiums (at the majors , becuase I had very little coming in) have all but dissapeared, some have even came back and dumped, becuase they told me it wasnt doing anything but going down.
Got few old timers that buy a little at current levels, but nothing like it was.
"silver holders getting screwed"
silver buyers aren't.
"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
I inherited my grandad's "emergency insurance" silver...
And expect my grandbabies will eventually inherit mine.
C'est la vie
Liberty: Parent of Science & Industry
Silver is underpriced compared to gold (spot prices).
"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
Silver premiums at the source I check occasionally (golddealer.com) are the lowest I recall since March, 2020 except for 2021 ASE. About $31 a few days ago with spot less than $23. The others slightly less than $5 for 1oz.
31/23 = 1.378 = 34.78% premium - is that right? And that is the lowest since March 2020? whoa.
I knew it would happen.
Not the lowest on the ASE, but on all other 1oz. The 2021 ASE is about the same as before to my recollection, since March 2020.
barely has any green days anymore and if it does, it just fades and drops huge the next day LOL
I had no idea the price of silver fluctuated. Makes one think…
Got into SLV a little to early this time around. It will go back up.
100% Positive BST transactions
I don't want the fiat currency. Like others have said, silver is insurance, as well as a hedge against the coming hyperinflation. I buy very little these days with the high premiums. I will continue to hold.
Normal market forces have been out the window for some time now. Years ago I got an MBA and very little they taught applies today. Some of the management principles and GAAP stuff still does but finance and economics? Forget it.
The only rules are there are no rules.
Locked in price on purchase of another 500 oz. Expecting a drop, before delivery.
In other news , I could get this in trade for precious metal. For tax purposes in reporting , that would be much less than his ask price. One owner , under 48000 miles.
What to do ? It's nice to have options.
In ' 77 silver was about where it is today. That car was new during my first enlistment. Carter was president. The more things change, the more they remain the same. Kinda.
If things were the same as they were in "77 we would be getting 17-18 % on CD's.
But of course mortgage rates would be about 22%--if you could even get one.
Yeah and gold would be about $60 per ounce. But we're talking silver.
Some of the management principles and GAAP stuff still does but finance and economics? Forget it.
The only rules are there are no rules.
GAAP? TARP and FASAB 56 changed all that as well.
I knew it would happen.
Are you saying that silver was about $22 an ounce in '77?
In '73, Nixon released a GSA hoard and pretty much set silver at $15. By 1980 the silver bubble burst near $50. (Hunt Bros era). So yeah.... prices were being established since '64 after it (silver) disappeared from circulation. Give or take a couple bucks here and there.
Morgan dollars have been about $20 since way back in the '80s Barring grades, of course. Better grades brought more. And we had no TPGs in them days.
Does anyone remember being able to order as many CC dollars as they wanted , for $15 each, in 1973 ?
Yes I do, still have the 20 that I picked up
I don't have the means to buy 500, but I buy as much as I can each month. I truly love Silver. Starting to buy a little gold when I can too.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
Are you saying that silver was about $22 an ounce in '77?
Silver didn't even come close to $22/oz in 1977.
I knew it would happen.
silver is on fire
Back to where it was 1979.
Knowledge is the enemy of fear
going to go past 2011 levels in 18 months
From your mouth to God's ears.
Knowledge is the enemy of fear
Alert the Bulgarian trolls. Gutter to da moon. lol
The whole worlds off its rocker, buy Gold™.
Back to where it was 1979.
Actually, it's only halfway there.
There is a big difference however. Back then, we had legitimate markets and silver premiums weren't anywhere close to 35% to 40% like they are now. That should be an indicator that there's more than meets the eye here. But, we all knew that.
Maybe when the financial industry's manipulative house of cards implodes and the dollar collapses from lack of trust, we might see something in the way of a market based on physical metal instead of imaginary paper assets.
I knew it would happen.
Well, actually, silver was only over $22 for about a month in late Dec 79 to Jan 80 and 2 years later was trading under 7. A run from 5 to 40 and back to 7 in a 3 year time period is hardly a legitimate market.
Perhaps the old timers see so much manipulation in silver is because thats how they were indoctrinated in the 70's?
Knowledge is the enemy of fear
silver was only over $22 for about a month in late Dec 79 to Jan 80
Silver hovered in the mid 30's for several months after the market peak blowoff, and then began a long slide for several years because of the the changes in margin requirements and Paul Volker's Fed raising rates dramatically.
I doubt that the Fed will be raising rates dramatically any time soon,
I knew it would happen.
.You should change your title to: Gold & Silver holders.......
sounds like you agree that the market that sets silver spot price (COMEX & LMBA) is "hardly a legitimate market."
Next thing you know you will be calling it a manipulated market. The truth shall set you free.
"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
The truth shall set you free.
Said every cult member, ever.
Knowledge is the enemy of fear
Just because cults used the scriptures to "manipulate' minds and hearts doesn't make the TRUTH untrue.
Back to silver ( and streets of gold) , from whence it came.
Mind I ask who and where are you buying your silver. I started a post on melting silver very serious about buying that set up from Amazon. Now I just need to buy some silver not 500 ounces but maybe 50 ounces to start learning how to. Hopefully I won’t burn the house down or burn my toes. Can I wear tennis shoes while melting there very comfortable while working. TYIA
^
I buy from A-Mark, Dorado Trade Group, a few local dealers , and joe public, to answer your question: coinmore. ( and those bigger dealers vetted me, prior to dealing).
Believe it. A vetting process to buy silver.