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Holy Cow is right . silver is going nuts.

unknowncomicunknowncomic Posts: 945 ✭✭
in Precious Metals
Just got off the phone with my dealer and he told me that silver eagles are going for $7.00 over spot . He does have some 100 oz. bars for $6.00 over. . Silver on kitco is at $9.30 something but there isnt any to be had. He told me that he was 2 weeks out on delivery of generic rounds.
What is going on here.?
Molon Labe

Comments

  • ttownttown Posts: 4,472 ✭✭✭
    A rigged paper system.....silver paper in one price and physical silver in another. This has been going on for quite some time now and is increasing as paper silver gets driven down.
  • cohodkcohodk Posts: 19,185 ✭✭✭✭✭
    Almost like the Wii's when they came out.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cinman14cinman14 Posts: 2,489 ✭
    9.60 will get you all the paper silver you want....

    Supply/demand dictates you will pay more for physical......

    I called my B@M on the way home from work this morning asking about any bars avail.

    They said they had plenty... I asked the price, 15.50 each....image

    I thought maybe silver spiked again. So I waited until I got home to check spot price....9.46 at that time.

    When silver was at the mid 11's they were getting 3 dollars over current spot... Now it's 6 dollars.

    I think it is safe to say... The floor for Physical right now is the 15 to 17 dollar spot range.. At least to buy anyway...
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    This is going to be funny. The paper silver people have been invaded by the stock people lookin' for something to do and they short paper silver to drive it down to make a bit of a profit. They'll keep driving that pile till it hits bottom. Those holding physical will be rewarded but patience will be required.

    JMHO but that's sure what it looks like.
  • JeremyDie1JeremyDie1 Posts: 2,383 ✭✭✭
    On the average the last two days 100 oz. bars are selling about 1453.00 a bar in auction format on ebay.
  • drei3reedrei3ree Posts: 3,430 ✭✭✭✭
    http://teletrade.com/direct/

    $12.81 in stock.
  • CalGoldCalGold Posts: 2,608 ✭✭


    << <i>On the average the last two days 100 oz. bars are selling about 1453.00 a bar in auction format on ebay. >>



    Ah yes ebay, where the world goes to shop for financial assets.

    So you can buy ten 100oz bars for $14,530 on ebay or one 1,000 bar from Kitco for $9,600.

    CG
  • JeremyDie1JeremyDie1 Posts: 2,383 ✭✭✭


    << <i>

    << <i>On the average the last two days 100 oz. bars are selling about 1453.00 a bar in auction format on ebay. >>



    Ah yes ebay, where the world goes to shop for financial assets.

    So you can buy ten 100oz bars for $14,530 on ebay or one 1,000 bar from Kitco for $9,600.

    CG >>




    Same thing with 12.81 oz. on the maple leaf. People are paying at least 18.00 a oz. on ebay.
  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    Eventually, "Joe Bloe" and some board members will realize that they are being hoodwinked by a few "doomsayers" in believing that you must have PM'S to survive the coming Armageddon. The PM markets will stabilize, but to late for a lot of good folks to have taken a financial beating.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i> or one 1,000 bar from Kitco for $9,600.

    CG >>



    Just try to buy one and get delivery.

    They won't be able to sell you one for that.

    I'll bet on it.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Eventually, "Joe Bloe" and some board members will realize that they are being hoodwinked by a few "doomsayers" in believing that you must have PM'S to survive the coming Armageddon. The PM markets will stabilize, but to late for a lot of good folks to have taken a financial beating. >>




    At first, I was tempted to take you to task....... then I saw your sig line.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • OPAOPA Posts: 17,124 ✭✭✭✭✭


    << <i>At first, I was tempted to take you to task....... then I saw your sig line. >>



    Take your best shot you young whipersnapper... but wait a while .. got to take me pills .. & be gentle, my heart may not take it.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>

    << <i>At first, I was tempted to take you to task....... then I saw your sig line. >>



    Take your best shot you young whipersnapper... but wait a while .. got to take me pills .. & be gentle, my heart may not take it.image >>





    Young whippersnapper??

    You must have me confused with someone else.

    I'll let your pills get to work and check back later, it's dinnertime and I must respect the lady who put the dinner together.

    Friendly banter is always good, no matter how wrong someone might be.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • BearBear Posts: 18,953 ✭✭✭
    Paper PMs, the next bubble. Be very careful.

    Strange, the more the price drops, the worse

    available supply becomes. Someone is pulling

    the big con on the simple folk.
    There once was a place called
    Camelotimage
  • JoesMaNameJoesMaName Posts: 1,064 ✭✭✭
    I'm sure many local dealers are cleaning up - Buy from the poor & desperate at 10% below spot - Sell at what the market will bear....

    ...
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Ok Bear,

    Are you saying an inverted paper bubble ?

    Please elaborate on your statement if you would.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • ttownttown Posts: 4,472 ✭✭✭
    To me it's much like our money they are trying to create something out of nothing. When contracts of various natures exceed the total amount of PM's your looking for trouble just like the dollar.
  • jdimmickjdimmick Posts: 9,691 ✭✭✭✭✭
    My competitor dealer across town is paying 6.00 oz for silver. (from the poor and hard up folks)
  • derrybderryb Posts: 36,938 ✭✭✭✭✭


    << <i>http://teletrade.com/direct/

    $12.81 in stock. >>



    From teletrades fine print:
    "For individual purchases from Teletrade Direct, Buyer must pay 15% of the price at the time the order is placed"

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • ttownttown Posts: 4,472 ✭✭✭


    << <i>

    << <i>http://teletrade.com/direct/

    $12.81 in stock. >>



    From teletrades fine print:
    "For individual purchases from Teletrade Direct, Buyer must pay 15% of the price at the time the order is placed" >>



    Translated 15% credit card and the rest in check, MO, or wire transfer.
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    I pay the 15% via PayPal. Then the balance has to be by check, MO, or bank wire.

    Regards, John
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭
    Youse guys is on the wrong bandwagon here. Paper is the King of all investments - Just ask Warren Buffet - he'll tell you.


    image
  • BearBear Posts: 18,953 ✭✭✭
    Listen up numbers, If I actually knew what I

    was talking about, would I be spending my time

    on the Forum? The answer is no, I would be out

    there making my fortune.image
    There once was a place called
    Camelotimage
  • SmittysSmittys Posts: 9,876 ✭✭✭✭✭


    << <i>Youse guys is on the wrong bandwagon here. Paper is the King of all investments - Just ask Warren Buffet - he'll tell you.


    image >>



    he(Mr Buffet) just said gold was a bad investment, to put your money in the market at these low prices.
    Funny Stocks go up he gets richer,
    no mention that the economy is in the toliet


    Just wonder if he's on the up and up .......imageimage
    https://www.ebay.com/str/christyscoins
  • JoesMaNameJoesMaName Posts: 1,064 ✭✭✭


    << <i>My competitor dealer across town is paying 6.00 oz for silver. (from the poor and hard up folks) >>



    Wow - Un-necessary roughness!
    and what is he asking for it?

    ...
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i>Just wonder if he's on the up and up ....... >>



    Buffett emphasized the non-productive aspect of gold in 1998 at Harvard: "It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." In 1977 Buffett was also quoted as saying about stocks, gold, farmland, and inflation: "stocks are probably still the best of all the poor alternatives in an era of inflation - at least they are if you buy in at appropriate prices."



    At 78 years of age, and with a net worth of $62 billion ( making him the richest man in the world ) it seems like the stock market has been very good to Warren Buffett. After a life devoted to stocks, I'd think it would be safe to say maybe he's a bit obcessed with it. Is he biased toward the Stock Market? Definitely. But at $62 Billion, maybe he's vey justified in that opinion.

    I wonder how he feels about rare coins? image

    Something tells me that most of us here, don't really want to know. image
  • WegWeg Posts: 544
    Call me a "doomsayer" if you please. I take a very basic view at times. How long would I take IOUs from someone who could not fulfill half of those IOUs, not very long. I don't care how much or many ways he says he'll make good. As oil and many other commodities are based in dollars, when the world realizes the US can not print enough money to cover those IOUs the dollar will sink which causes the price of all based in dollars to require more of them to pay for all. What a shock it would be if everything payed in dollars started to be payed with the currency from the only country in the G7 which has a surplus, not a deficit; Canada. As I said, a shock. I'd certainly prefer to loan to someone who can control their finances.
    Remember, I'm pullen for ya; we're all in this together.---Red Green---
  • ProofCollectionProofCollection Posts: 6,246 ✭✭✭✭✭


    << <i>Call me a "doomsayer" if you please. I take a very basic view at times. How long would I take IOUs from someone who could not fulfill half of those IOUs, not very long. I don't care how much or many ways he says he'll make good. As oil and many other commodities are based in dollars, when the world realizes the US can not print enough money to cover those IOUs the dollar will sink which causes the price of all based in dollars to require more of them to pay for all. What a shock it would be if everything payed in dollars started to be payed with the currency from the only country in the G7 which has a surplus, not a deficit; Canada. As I said, a shock. I'd certainly prefer to loan to someone who can control their finances. >>



    Actually, the US *can* print enough dollars to cover the IOUs. In fact, it appears to be the plan. However, your point is understood.
  • cohodkcohodk Posts: 19,185 ✭✭✭✭✭


    << <i>Call me a "doomsayer" if you please. I take a very basic view at times. How long would I take IOUs from someone who could not fulfill half of those IOUs, not very long. I don't care how much or many ways he says he'll make good. As oil and many other commodities are based in dollars, when the world realizes the US can not print enough money to cover those IOUs the dollar will sink which causes the price of all based in dollars to require more of them to pay for all. What a shock it would be if everything payed in dollars started to be payed with the currency from the only country in the G7 which has a surplus, not a deficit; Canada. As I said, a shock. I'd certainly prefer to loan to someone who can control their finances. >>



    I hear you, but what if the Eurozone prints faster or "cant print enough"?

    It is interesting that in the face of the worse financial crisis in 80 years, the US dollar is still the worlds reserve currency. Never take advice from a supermodel. LOL
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
    Never take advice from a supermodel.

    I've not had the occasion to turn down any advice from a supermodel, financial or otherwise.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • fishcookerfishcooker Posts: 3,446 ✭✭

    They can talk?
  • cohodkcohodk Posts: 19,185 ✭✭✭✭✭
    Poor Tom Brady.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i> What a shock it would be if everything payed in dollars started to be payed with the currency from the only country in the G7 which has a surplus, not a deficit; Canada. As I said, a shock. I'd certainly prefer to loan to someone who can control their finances. >>





    Canada is a great country, however, as they say in Finance, not deep enough. Also, isn't Canada really our tail? If we are the Dog ( pun intended image ) Canada is our tail. Would it be right for the tail to wag the Dog? Never mind that the tail is better than the Dog. image

    Also, isn't everything you say about the US Dollar, also true about every currency? Who has currency that isn't just paper without anything physical to back it? Any country with seemingly strong paper is just like Canada, small with no depth.
  • WegWeg Posts: 544
    Shoot, I left the key word out---faith---
    How long would I continue to have faith in someone and take their IOUs when they float, not cover their debt.
    I'd certainly prefer to loan to someone who can control their finances, I would have more faith in their ability to cover.
    That guy next door, Mr Canada, he appears responsible, perhaps I should put my faith in him.
    Faith.
    Sooner or later (probably later) governments will recognize this short trial of a monetary system based on faith has failed.
    Later, because most likely they will attempt to regulate a fix. Next, we'll try our faith in,, where's my dart, there, Mr Canada.
    For now this is the only game in town.
    I can wish I was smart enough to think of a new VIABLE system, a solution, but ......
    All I can do is gamble with my thoughts of how to make the best of it. Buy gold? buy silver? buy TP?, people will always need that.
    Yes, I've lost the faith. Bummer.

    Oh ya, LOL, I'd stay away from that area, you know, between the dog and the tail.
    Remember, I'm pullen for ya; we're all in this together.---Red Green---
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>They can talk? >>




    They can indeed, though most have atrophied vocal chords.

    However, like the airheads they are, they don't make much sense.

    Talking/thinking isn't their strong suit.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It is interesting that in the face of the worse financial crisis in 80 years, the US dollar is still the worlds reserve currency. Never take advice from a supermodel. LOL

    I'd say that gold, the world's oldest and most reliable currency has held up far better throughout the entire 7 year process of this crisis than any major currency, including the USD. The USD might just struggle its way up to 0.92 but what comes after that will show which currencies are really worth something.

    And what "financial crisis" are you talking about? Not the same one that Chairman Ben can't even yet call a "recession?" Can't be too much of a crisis if it's not even an official recession yet. And with all the liquidity injections, the GDP will be "up" in the 4th quarter, leading pundits to proclaim all is well once again.

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Well Bernake may not call it a recession but the 47 Employees that were just laid off from the County
    of Maricopa might just argue that point with him. That was on top of 45 positions cut in February.
    Building permits down 46% in Phoenix.

    It has been my experience that when the cuts finally start happening at the local government level
    that the economic upturn is almost upon us.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Well Bernake may not call it a recession but the 47 Employees that were just laid off from the County
    of Maricopa might just argue that point with him. That was on top of 45 positions cut in February.
    Building permits down 46% in Phoenix.

    It has been my experience that when the cuts finally start happening at the local government level
    that the economic upturn is almost upon us. >>




    Or, it could just be that the sauce is about to hit the airscrew.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • ttownttown Posts: 4,472 ✭✭✭
    Yes there will be a upturn for sure but it'll be in the downward direction. The 700 B may last until the first of next year, you've now had 2 warning shot of things to come but don't let the facts get in the way. The game has just started and they are throwing everything they can at it so if it doesn't last very long there's not much else that they can do but print more and more money.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    local governments have just started to get past the denial stage, which is like a preface to Stage 1 of oh maybe 4 or 5 if you want to go as far as anarchy

    btw how far do we need to get OT here....

    image
  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭


    << <i>local governments have just started to get past the denial stage, which is like a preface to Stage 1 of oh maybe 4 or 5 if you want to go as far as anarchy

    btw how far do we need to get OT here....

    image >>



    I was liking the turn it made towards supermodels. image
    imageQuid pro quo. Yes or no?
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