Silver Monday morning down $2 or 13%

Options
Wingsrule
Wingsrule Posts: 3,312 ✭✭✭✭
in Precious Metals

I wonder if all those folks scrambling to buy Friday will honor their orders?

Comments

  • LukeMarshall
    LukeMarshall Posts: 2,212 ✭✭✭✭✭
    Options

    First PM purchase of 2020 Friday here....

    10oz of AG

    Your welcome

    It's all about what the people want...

  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
    Options

    this is a buying opportunity if only there was silver for sale somewhere :D

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
    Options

    Apmex looks pretty light on inventory.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • isaiah58
    isaiah58 Posts: 385 ✭✭✭
    Options

    The major bullion dealers have updated their websites various ways. Most have removed items from being available. Several have posted that shipments could take 6 to 8 weeks. Pricing on silver is about $16 an ounce minimum for generic on limited sites, $18 plus is more likely. ASEs starting around $20. Many dealers have turned their eBay listings off, or pulled bullion all together: raw, unslabed, 90% pulled.

    Scottsdale is still adding auctions, just not as many. People are bidding their products up aggressively.

    Gold has similar restrictions and pricing.

  • jclovescoins
    jclovescoins Posts: 2,038 ✭✭✭✭✭
    Options

    Physical silver is worth at least $16/ounce right now. The activity in the paper silver market is insane given what is going on right now. If someone told us the Fed would set rates near 0%, there would be this panic/hysteria, and the Dow lost 1/3 of its value in 2 weeks...I think 90% of us would have though silver to be at $25-$30/oz easily. It was trading at $19/oz. a little more than a week ago.

  • 3stars
    3stars Posts: 2,303 ✭✭✭✭✭
    Options

    Apmex pretty much sold out of silver items...

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • Jinx86
    Jinx86 Posts: 3,729 ✭✭✭✭✭
    Options

    We locked our doors. Appointment only. Too little product too many people just asking questions and not wanting to pay a premium.

  • isaiah58
    isaiah58 Posts: 385 ✭✭✭
    Options

    @3stars said:
    Apmex pretty much sold out of silver items...

    No, they are just restricting sales. They would rather wait than set premiums too high. People are fickle, many do not understand the business so look at high premiums negatively regardless of the economic situation. Physical silver is a good buy at $16 an ounce or even $17. If the premium is too high psychologically then just wait.

    Back when I was a kid, silver was set around $3. I happily purchased art bars at $6.

  • 3stars
    3stars Posts: 2,303 ✭✭✭✭✭
    Options

    @isaiah58 said:

    @3stars said:
    Apmex pretty much sold out of silver items...

    No, they are just restricting sales. They would rather wait than set premiums too high. People are fickle, many do not understand the business so look at high premiums negatively regardless of the economic situation. Physical silver is a good buy at $16 an ounce or even $17. If the premium is too high psychologically then just wait.

    Back when I was a kid, silver was set around $3. I happily purchased art bars at $6.

    I miss the days of a roll of ASE's for $125...

    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • philographer
    philographer Posts: 1,383 ✭✭✭✭✭
    Options

    The prices ASEs are fetching on eBay is insane. Rolls of 20 selling for north of $400. That's a premium of $140 over spot! What are people thinking?

    He who knows he has enough is rich.

  • blitzdude
    blitzdude Posts: 7,726 ✭✭✭✭✭
    Options

    @philographer said:
    The prices ASEs are fetching on eBay is insane. Rolls of 20 selling for north of $400. That's a premium of $140 over spot! What are people thinking?

    Perhaps they are thinking the physical price has finally decoupled from the Atlantic city casino paper price or maybe $20 ASE just seems cheap compared to $30 rolls of toilet paper.

    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:

  • jclovescoins
    jclovescoins Posts: 2,038 ✭✭✭✭✭
    Options

    Physical silver cannot possibly only be worth $13.00 per ounce in the midst of everything going on. Lol

  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
    Options

    @jclovescoins said:
    Physical silver cannot possibly only be worth $13.00 per ounce in the midst of everything going on. Lol

    It only costs 11 bucks on average to make new silver from dirt and rocks.

    Liberty: Parent of Science & Industry

  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
    Options

    @Baley said:

    @jclovescoins said:
    Physical silver cannot possibly only be worth $13.00 per ounce in the midst of everything going on. Lol

    It only costs 11 bucks on average to make new silver from dirt and rocks.

    Less now that a worldwide depression

    Liberty: Parent of Science & Industry

  • rawteam1
    rawteam1 Posts: 2,472 ✭✭✭
    Options

    @jclovescoins said:
    Physical silver is worth at least $16/ounce right now. The activity in the paper silver market is insane given what is going on right now. If someone told us the Fed would set rates near 0%, there would be this panic/hysteria, and the Dow lost 1/3 of its value in 2 weeks...I think 90% of us would have though silver to be at $25-$30/oz easily. It was trading at $19/oz. a little more than a week ago.

    The actual price action is deja vu all over again...

    keceph `anah

Categories