Silver Price Discovery

coinpage

I can't blame the dealers that won't sell at the current price, I wouldn't either if I had to take a loss.

It seems as if the futures/spot market has failed (if only temporarily) as a pricing mechanism for the real market.

So, if the silver spot price doesn't represent the price buyers and sellers agree with. How do we determine the price for silver?
Ebay? That's kind of lame.

If i go into a coin shop and want to buy, but the dealer says he doesn't have any. Should I say "I'll buy at $xx over spot, do you have any now?"

cinman14

I kinda did that Friday. When I went into my local B@M to pick up a few small bars the case was empty.
I asked Barney behind the counter if he had any rounds or 1-10oz bars left he said nope all sold out..

Well after looking thru some morgans and picking up about 30 mercs and a couple of Franklins
he leaned close and said they had 15 rolls left in the back but pulled them to save for the
regulars who come in weekly and do business. He said they were having too many young suits
coming in and buying 2 to 3 rolls at a time that he had never seen before.

He knew his regulars which I am but rarely deal with him would be getting off work later or coming in
on their lunch break to buy extra on the dip..Sounded fair to me so I grabbed a few bars and left happy.

CaptHenway

<< <i>I can't blame the dealers that won't sell at the current price, I wouldn't either if I had to take a loss.

It seems as if the futures/spot market has failed (if only temporarily) as a pricing mechanism for the real market.

So, if the silver spot price doesn't represent the price buyers and sellers agree with. How do we determine the price for silver?
Ebay? That's kind of lame.

If i go into a coin shop and want to buy, but the dealer says he doesn't have any. Should I say "I'll buy at $xx over spot, do you have any now?" >>



Do you mean that they won't sell at the current spot price, or that they won't sell at the current spot price plus a reasonable markup depending upon the product, because they bought the product when silver was up around $20/oz.?
TD

mnmcoin

<< <i>I can't blame the dealers that won't sell at the current price, I wouldn't either if I had to take a loss.

It seems as if the futures/spot market has failed (if only temporarily) as a pricing mechanism for the real market.

So, if the silver spot price doesn't represent the price buyers and sellers agree with. How do we determine the price for silver?
Ebay? That's kind of lame.

If i go into a coin shop and want to buy, but the dealer says he doesn't have any. Should I say "I'll buy at $xx over spot, do you have any now?" >>



Thats stupid of them, I've been hording it since around $6. I always sell at spot plus what I can replace them at and then about 25-45 cents an ounce for my cut. Then at the end of the day, I add up what my plus or minus intake was and order or sell rounds or bars to bring me back to the amount I want to hold. You still benefit from the rise and can make money at the same time...plus in a net growing market over time you end up doing much better.

morris

thebeav

Any dealer that can not, or will not buy-sell at the current market is a wanna-be.
Simple.....

boucharda

<< <i>Any dealer that can not, or will not buy-sell at the current market is a wanna-be. >>



APMEX???

I doubt they are out of every graded/ungraded, single/roll, silver,gold,platinum coin of every make and model they had before the drop. Bet their website is "fixed" when the price comes back or stabilizes

cladking

<< <i>Any dealer that can not, or will not buy-sell at the current market is a wanna-be.
Simple..... >>



What logic is there to sell any non-perishable at a price far lower than
it can be replaced and lower than other sellers? If the supply really is
so tight then there's no sense selling.

Coxe

I called a friend at a local B&M on Friday to see about looking at whatever Morgans might have come in over the week. They were completely cleaned out of silver dollars. And it wasn't nonsense as they know I will pay whatever will keep them in the money on them anyway. Near the peak I also wandered into the same shop and they had just sold a guy every silver dollar he could get for $20 each (a foolish price to me especially in volume). That meant 770 of them if memory serves me.

As for dealers reluctant to sell because they are in at a higher price, that signals pretty decent support.

MadMarty

I picked up 4 rolls of silver roosies at $69 per roll on Sat. Got a 54, 2-55s and a 55-S roll.

jmski52

PM sent.

BECOKA

I guess it's the dealers choice. They have a right to make money, if they want to hold as an investment so be it.

Sounds like in your case they were only holding to make their regulars happy which is even better.

coinpage

I'll go into my local shop tomorrow and try to buy 10oz. (can't afford any more right now )
We'll see what happens.

roadrunner

Any dealer that can not, or will not buy-sell at the current market is a wanna-be. Simple.....

Hardly that simple. This would imply that all the dealers who were holding back top quality bust and type coins that past 6 months or more were wanna-be's....rather than people who did not want to sell into a market where the price guides haven't been updated for years and mechanisms for finding out realistic prices are far and few.
I call that smart.....not wanne-be's. Price guides can be off by 100% to 400%. They do it all the time. Pricing silver bullion may be simpler than that but not when the commercial shorts and banks hold all the so-called future's pricing (ie they publish the price guide).

roadrunner

coinpage

So I went to the local coin shop (DC metro area) during my lunch hour to get some silver.

No problems, he had what I wanted for 50 cents over spot. It was only 12 ounces - 9 eagles, 1 maple leaf, and 2 rounds, but he brought out 2
boxes worth of eagle,rounds bars etc. One of the eagles was even a 1996, isn't that one of the scarcer years?
He said that people are coming in and selling, and that he's holding on to the inventory to sell to his customers.

I asked him if he thought the spot price represented the "real" price of silver. He nodded his head no, and pointed upwards to the sky.
I asked him then, why did he he just sell me eagles for 18.25 a piece (spot was 17.75 when I was in the shop).
He said that was what he was in business for. If he has to pay more, he will charge more.

Apparently, he didn't have to pay more.