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latest silver buzz locally

jdimmickjdimmick Posts: 9,674 ✭✭✭✭✭
in Precious Metals
For the past several weeks, folks have been buying silver up as fast I can get it into the store, today, I had several panic callers wanting to get out, and I am not takling about a few oz,


one had 400 oz, another 500, and yet another guy with 1100 oz (1100 oz guy wanted cash only, so i passed. told him he could cash the check across the street at the bank) Im sure he was an IRS ducker, so I just as soon not deal with that guy.
jim


Just thought it was intresting due to the drop


Comments

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Just like what I experienced at the coin show Sunday...only difference is no one was buying.
    I'm telling you, that show and this story confirms my initial thoughts. People knew (somehow) it was going to start on a major tank when the market opened Monday.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Still buying at the right price !!!
    Timbuk3
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,358 ✭✭✭✭✭
    Weak hands should sell. Perhaps they will be happier with bank CD's paying sub 1%.

    Apmex had a nice sale on their 1 oz rounds at $33.18 today. I added 100. If silver drops further I will add more. My concern is the price of silver in 10 years and not today.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    I am getting flooded with emails of guys looking to buy silver (mostly junk Ag). Few have pulled the trigger yet as spot continues to drop.

    I think we'll be seeing an upswing very soon. Too much money just waiting for the trend to reverse. When it does, it will do so very strongly.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    Even worse is that a bunch of them don't even understand junk silver...

    Canadian silver dollars are 23.33g of 80% silver, thus they contain 0.6 toz of pure silver. One guy is insisting that I am charging a $10+/oz premium because they are only 80% silver and 0.48oz of silver weight... Even after I gave him all the math and explained it in every possible manner.

    I really should start a "Why vest pocket coin dealers" drink thread. This is just the tip of the iceburg lol.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • RedTigerRedTiger Posts: 5,608 ✭
    Thanks for the report. I took a small long position in paper silver and cited this thread in my blog.
    Investment blog: gold, stocks and more
  • BarndogBarndog Posts: 20,490 ✭✭✭✭✭
    I asked at the two local B+Ms I frequent. They have not had any rush to sell whatsoever. Both said that nothing has really walked in the door this week or last. That is too bad, since after reading the OP, I was hopeful as I set out on my quest today
    JR Newsletter Online Edition
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Just went and visited my guy since he's back from surgery. He's not buying right now, so I gave him a bit of cash and well wishes on his comeback. Guy came in wanting to sell though while I was in there. Think he wound up getting some ASE proofs, he was asking about sets and ASEs while I was picking my batch of goodies out.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>Thanks for the report. I took a small long position in paper silver and cited this thread in my blog. >>



    I agree. I looked at this as a buy signal. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • cohodkcohodk Posts: 19,100 ✭✭✭✭✭


    << <i>

    << <i>Thanks for the report. I took a small long position in paper silver and cited this thread in my blog. >>



    I agree. I looked at this as a buy signal. MJ >>




    Typical 23.6% Fibonacci retrace off the Feb 29 high and retest of the broken 50dma. Normal dead cat bounce.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Thanks for the report. I took a small long position in paper silver and cited this thread in my blog. >>



    I agree. I looked at this as a buy signal. MJ >>




    Typical 23.6% Fibonacci retrace off the Feb 29 high and retest of the broken 50dma. Normal dead cat bounce. >>



    Yep. Perfect trade entry. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • SpoolySpooly Posts: 2,108 ✭✭✭
    Silver is still in a down tread... needs to break some resistance points to confirm the bullish trend. At what point in 1980 did the bulls figure out the game was over?
    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Silver is still in a down tread... needs to break some resistance points to confirm the bullish trend

    image 1000%
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • cohodkcohodk Posts: 19,100 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>Thanks for the report. I took a small long position in paper silver and cited this thread in my blog. >>



    I agree. I looked at this as a buy signal. MJ >>




    Typical 23.6% Fibonacci retrace off the Feb 29 high and retest of the broken 50dma. Normal dead cat bounce. >>



    Yep. Perfect trade entry. MJ >>




    YUP. Shorted more.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>

    << <i>Thanks for the report. I took a small long position in paper silver and cited this thread in my blog. >>



    I agree. I looked at this as a buy signal. MJ >>




    Typical 23.6% Fibonacci retrace off the Feb 29 high and retest of the broken 50dma. Normal dead cat bounce. >>



    Yep. Perfect trade entry. MJ >>




    YUP. Shorted more.image >>



    To each is own. I didn't think $34 would hold as previously stated but I like the bounce for a quick trade up the upside. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    <$30 could happen today. The next leg down from that is $26, but I think there's strong support there.
    We're in a phase of support levels being tested due to too much "good" economic news being spewed in an election year. The market may try telling me that things are getting better but I don't drink kool-aid. But that doesn't mean support levels need to be tested due to the general population not even knowing the basic rules and standards of economics and being spoon fed crap and believing it.
    A high % of people don't even look at their 401k's. And I'm supposed to believe what analysts tell me?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I don't know where your "locally" is, but in my 'ville, folks don't believe what Anal-ists tell them about how to feel, nor do they tolerate being spoon-fed any "crap"

    People tend to believe what they see and experience, folks who are doing increasingly better financially, due to strong stock performance, firming housing prices, and salary raises in a growth industry, will naturally lead the aggregate national economic recovery, while lagging sectors and regions will, well... lag.

    With metal bars and coins, the greed card has probably been played out. the fear card is still there because of scary graphs. What happens if they slow their ascent, and level off?

    I will still love my metal coins and bars if they fall to half their current value, or a quarter of it. Couldn't say the same if they represented more than 10% of my dough

    Liberty: Parent of Science & Industry

  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    I don't think silver will get all the way down to $12.00 this time around, but if it does - remind me to buy. I'm looking at the 12-yr chart on Kitco, thinking somewhere around $18.00 is the lowest possible number now.

    I don't think anyone can say what silver is going to do this year. Spring and early summer are usually the best times to buy - isn't that still true?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • CakesCakes Posts: 3,627 ✭✭✭✭✭


    << <i>I don't think silver will get all the way down to $12.00 this time around, but if it does - remind me to buy. I'm looking at the 12-yr chart on Kitco, thinking somewhere around $18.00 is the lowest possible number now.

    I don't think anyone can say what silver is going to do this year. Spring and early summer are usually the best times to buy - isn't that still true? >>



    I am a novice and have only been in the silver bullion game for about 2 years but like piecesofme said I think $26 is the new low.
    Successful coin BST transactions with Gerard and segoja.

    Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
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