Whenever I sold to a LCS over the years, the discount was around 10%, so seems in line with current spot. Refiner to wholesaler discount might be a % or two, then wholesaler to LCS another couple %'s, and the little guys pays up the food chain. But I get cash on the spot walking out with a smile.
$61.86 ask at Kitco. I started stacking late back at $29 and bought a lot of coins and junk, but also 10 oz and 5 oz bars. I loaded in early last Jan. to May. I can only imagine what you long terms are feeling. But at least I also bought $3,000 gold.
Anyway good for all of you. I'm happy for all of you big players. Your patience had paid off and I think its far from over yet. There will be no crash. None of the indicators reflect that. Silver is the metal of the next era of technology.
@Silverstacker said:
$61.86 ask at Kitco. I started stacking late back at $29 and bought a lot of coins and junk, but also 10 oz and 5 oz bars. I loaded in early last Jan. to May. I can only imagine what you long terms are feeling. But at least I also bought $3,000 gold.
Anyway good for all of you. I'm happy for all of you big players. Your patience had paid off and I think its far from over yet. There will be no crash. None of the indicators reflect that. Silver is the metal of the next era of technology.
I started slowly at the $18-20$ level and kept a slow but steady pace. But have been putting it on thick since the summer. Dollar cost averaging FTW. The rise of silver is far from over IMO.
@jmski52 said: Most people don't know this but larger buyers/owners (Authorized participants) of SLV shares can convert their shares to physical delivery.
And when people buy into the SLV ETF, the fund is required to acquire that much more physical silver. Thus, it is a drain on available metal in the market.
.
But do they actually do that (acquire silver for every share they issue) ?
If only the "big players" can cash in their SLV shares for physical silver, then what if SLV only acquires the silver needed to cover those big players ? The small players can only ever get a cash settlement. Does SLV have all the small player silver as well ? They are supposed to, but do they really have it ?
@MsMorrisine said:
they can't convert all cash to silver. there must be a cushion for redemptions
ETF individual buyers don't want the metal sent to them, they want the profit in cash. It's an investment, usually for the short term. A stacker's physical metal is held for the long term. He would be buying an ETF for only a short term cash profit. He may hold that investment longer during periods, such as now, of steady price rises.
If you understand what is coming, then you can duck. If not, then you get sucker-punched. - Martin Armstrong
Comments
How long have dealers/LCS/refiners been discounting off the official silver price for 90% "junk" silver ?
I know I got quoted $6 off when I went to an LCS a few weeks ago....was that the case when the price was in the $40's or $30's ?
Whenever I sold to a LCS over the years, the discount was around 10%, so seems in line with current spot. Refiner to wholesaler discount might be a % or two, then wholesaler to LCS another couple %'s, and the little guys pays up the food chain. But I get cash on the spot walking out with a smile.
Keep waiting, I've got thousands of ounces of gutter. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
$61.86 ask at Kitco. I started stacking late back at $29 and bought a lot of coins and junk, but also 10 oz and 5 oz bars. I loaded in early last Jan. to May. I can only imagine what you long terms are feeling. But at least I also bought $3,000 gold.
Anyway good for all of you. I'm happy for all of you big players. Your patience had paid off and I think its far from over yet. There will be no crash. None of the indicators reflect that. Silver is the metal of the next era of technology.
I started slowly at the $18-20$ level and kept a slow but steady pace. But have been putting it on thick since the summer. Dollar cost averaging FTW. The rise of silver is far from over IMO.
COPPER is gutter !
You should be very happy about that, but, you have an agenda.
COPPER is gutter !
I am, and no agenda here other than good health, peace of mind, and early retirement. Hopeful for all 3. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
.
But do they actually do that (acquire silver for every share they issue) ?
If only the "big players" can cash in their SLV shares for physical silver, then what if SLV only acquires the silver needed to cover those big players ? The small players can only ever get a cash settlement. Does SLV have all the small player silver as well ? They are supposed to, but do they really have it ?
.
they can't convert all cash to silver. there must be a cushion for redemptions
ETF individual buyers don't want the metal sent to them, they want the profit in cash. It's an investment, usually for the short term. A stacker's physical metal is held for the long term. He would be buying an ETF for only a short term cash profit. He may hold that investment longer during periods, such as now, of steady price rises.
If you understand what is coming, then you can duck. If not, then you get sucker-punched. - Martin Armstrong
$64 is here.
http://ProofCollection.Net