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Report from the front lines today

ProofmorganProofmorgan Posts: 936 ✭✭✭✭✭
in Precious Metals

I’ve been running to the shops the past couple weeks to sell, buy, and just for entertainment. The goal today was to see what the drop in price did to the retail side and maybe buy a little. I envisioned it being slow for them. I thought no one wouid be selling and also maybe buyers didn’t want to catch a falling knife. Not the case.

All three shops were wiped out of silver and gold. One shop to the tune of 1000s of ounces. The owner told me he’s been shipping to his wholesaler daily for the last couple weeks. Today he had to call his wholesaler to see if he could BUY silver. He thought it was a joke.

The past week the selling has been 10 to 1. Today it reversed to the point they are saying “I wish I could buy more from people”.

Interesting territory. It seems the retail side is either confident in a rise or sees as a DCA buying opportunity.

Collector of Original Early Gold with beginnings in Proof Morgan collecting.

Comments

  • OverdateOverdate Posts: 7,306 ✭✭✭✭✭

    Maybe people will be more willing to sell if dealers raise their buy prices closer to melt.

  • blitzdudeblitzdude Posts: 7,557 ✭✭✭✭✭

    @Overdate said:
    Maybe people will be more willing to sell if dealers raise their buy prices closer to melt.

    Supply and demand 101. Why on earth would a dealer raise their buy prices when they are being offered more than they can already move? Especially now, never ends well trying to catch a falling knife. THKS!

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • ProofmorganProofmorgan Posts: 936 ✭✭✭✭✭

    The spread at all shops was -5 buy on eagles and +5-6 to buy.

    Collector of Original Early Gold with beginnings in Proof Morgan collecting.
  • OverdateOverdate Posts: 7,306 ✭✭✭✭✭
    edited January 31, 2026 9:34AM

    @blitzdude said:

    @Overdate said:
    Maybe people will be more willing to sell if dealers raise their buy prices closer to melt.

    Supply and demand 101. Why on earth would a dealer raise their buy prices when they are being offered more than they can already move? Especially now, never ends well trying to catch a falling knife. THKS!

    >
    See the post above mine by @Proofmorgan :

    All three shops were wiped out of silver and gold. One shop to the tune of 1000s of ounces. The owner told me he’s been shipping to his wholesaler daily for the last couple weeks. Today he had to call his wholesaler to see if he could BUY silver. He thought it was a joke.

    Several dealers on the internet are either sold out of 90%, or their ask price is more than 10% above melt. Quite a turnaround in one day.

    The same thing happened in 1980. As prices crashed after the runup, a 25% discount on junk silver became a 10% (or more) premium.

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