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Short Silver?

cladkingcladking Posts: 28,227 ✭✭✭✭✭

Only a few times since 1962 would I have the least interest in shorting silver. All of these were very brief lasting only for minutes or hours (days at the most).

Right now is in my opinion the worst time in my life to be short. Silver has always been a powder keg but now a sudden run up looks most likely and a more gradual ascent is certainly possible. It's hard to imagine a drop but silver has always disappointed except a few days in January 1980.

Tempus fugit.

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @cladking... Thanks for the input. I am certainly not an expert, nor do I have foresight... but I have been thinking silver looks as if it will be moving up significantly.... Not a prediction on my part, just observation. Cheers, RickO

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

    I can’t imagine shorting silver at the moment.

    (If there were a mechanism to short the premium on ASE’s, I might consider that)

    Higashiyama
  • cladkingcladking Posts: 28,227 ✭✭✭✭✭

    @Higashiyama said:
    I can’t imagine shorting silver at the moment.

    (If there were a mechanism to short the premium on ASE’s, I might consider that)

    Yes! This premium is going to disappear suddenly but it might not come until much higher prices. I've been swapping out of high premium silver into low premium or discounted silver. I wouldn't mind at all if the premium lasted until I was done.

    Tempus fugit.
  • jclovescoinsjclovescoins Posts: 1,848 ✭✭✭✭✭

    @cladking said:

    @Higashiyama said:
    I can’t imagine shorting silver at the moment.

    (If there were a mechanism to short the premium on ASE’s, I might consider that)

    Yes! This premium is going to disappear suddenly but it might not come until much higher prices. I've been swapping out of high premium silver into low premium or discounted silver. I wouldn't mind at all if the premium lasted until I was done.

    I agree. No way do ASE's continue to have a +11.5 wholesale value. It will come back down to +3 once production gets ramped up again. Same thing with the current huge 90% premium. Usually, that stuff trades below melt.
    Holding generic 1 oz, or low premium brittanias, krugerrands, etc. probably the better move right now.

  • cladkingcladking Posts: 28,227 ✭✭✭✭✭

    @jclovescoins said:

    @cladking said:

    @Higashiyama said:
    I can’t imagine shorting silver at the moment.

    (If there were a mechanism to short the premium on ASE’s, I might consider that)

    Yes! This premium is going to disappear suddenly but it might not come until much higher prices. I've been swapping out of high premium silver into low premium or discounted silver. I wouldn't mind at all if the premium lasted until I was done.

    I agree. No way do ASE's continue to have a +11.5 wholesale value. It will come back down to +3 once production gets ramped up again. Same thing with the current huge 90% premium. Usually, that stuff trades below melt.
    Holding generic 1 oz, or low premium brittanias, krugerrands, etc. probably the better move right now.

    I prefer to always buy the lowest premiums except no scrap and no coins below .300 fine unless they are known to be consistent. A lot of very low fineness coins almost have to be melted and assayed because too many are lower than reported.

    I've done very well with such coins because they are often so interesting that you can pick some out to sell at large premiums. US BU 40% half dollars used to available at a discount but now days they sell at a bigger premium than eagles. War nickels are still at a discount but you can pick out quite a few of them to sell at huge premiums. My favorite silver has always been interesting and scarce US and world coins at a discount and then when there are buyers I swap it for 90%, eagles, or bars that aren't at a premium.

    Of course it's a lot of work but you can always trade up for better and better coins at little or no cost.

    If silver gets as high as I expect it to in the long run it won't matter so much how much premium you paid.

    Tempus fugit.
  • blitzdudeblitzdude Posts: 5,278 ✭✭✭✭✭

    Once every couple of decades gutter "BRIEFLY" leaves the sewer. When it does it again be ready to move quickly. I wouldn't short right now (I'm actually long SLV) but I'm not expecting any big upward moves. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • MeltdownMeltdown Posts: 8,602 ✭✭✭✭✭

    I sold 29 ounces of vintage bars over the weekend at $40 per oz. Then I bought a 1/2 oz gold eagle with some of the proceeds. It does seems like a good time to convert high premium silver.

  • ctf_error_coinsctf_error_coins Posts: 15,403 ✭✭✭✭✭

    I shorted DWAC today :)>:)

  • JimnightJimnight Posts: 10,670 ✭✭✭✭✭

    Maybe yes ... maybe no.

  • Dave99BDave99B Posts: 8,313 ✭✭✭✭✭

    Shorting anything is extremely risky IMO.

    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • ctf_error_coinsctf_error_coins Posts: 15,403 ✭✭✭✭✭
    edited November 15, 2022 1:41PM

    @Dave99B said:
    Shorting anything is extremely risky IMO.

    Dave

    Not DWAC, seems to me to be free money.

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

    @ErrorsOnCoins said:

    "@Dave99B said:
    Shorting anything is extremely risky IMO.

    Dave

    Not DWAC, seems to me to be free money."

    Famous last words! (though I appreciate and respect your candor.)

    Higashiyama
  • ctf_error_coinsctf_error_coins Posts: 15,403 ✭✭✭✭✭
    edited November 15, 2022 4:01PM

    @Higashiyama said:
    @ErrorsOnCoins said:

    "@Dave99B said:
    Shorting anything is extremely risky IMO.

    Dave

    Not DWAC, seems to me to be free money."

    Famous last words! (though I appreciate and respect your candor.)

    Doing a technical trade. Looking at the stock chart and there is a nice gap below. I expect it to get filled and cover. Time will tell.

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