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
@MsMorrisine said:
they can't convert all cash to silver. there must be a cushion for redemptions
The SLV trust deals with the Authorized Broker/Dealers who buy the basket for physical silver delivery to custodian, JPM. Supposedly this is confirmed before authorizing the new shares. After that, all individual sellers have found a buyer. I trade at Schwab. My sell may go against another Schwab customer or external to one at the hundreds of other B/Ds. The cash is moved between those customers, the SLV Trust does not participate in those transactions unless an authorized Basket participant wants to add more shares or redeem for silver delivery which will cancel those shares. All sellers have an offsetting buyer with no interaction with the Trust. The Trust only knows the Authorized B/D's, # of o/s shares and tonnes of physical in storage, and oh yeah, how much fees are generated as they take their cut daily.
@MsMorrisine said:
they can't convert all cash to silver. there must be a cushion for redemptions
The SLV trust deals with the Authorized Broker/Dealers who buy the basket for physical silver delivery to custodian, JPM. Supposedly this is confirmed before authorizing the new shares. After that, all individual sellers have found a buyer. I trade at Schwab. My sell may go against another Schwab customer or external to one at the hundreds of other B/Ds. The cash is moved between those customers, the SLV Trust does not participate in those transactions unless an authorized Basket participant wants to add more shares or redeem for silver delivery which will cancel those shares. All sellers have an offsetting buyer with no interaction with the Trust. The Trust only knows the Authorized B/D's, # of o/s shares and tonnes of physical in storage, and oh yeah, how much fees are generated as they take their cut daily.
.
Does SLV publish anything on the total number of shares outstanding ?
That would be interesting to see a chart of the number of outstanding shares, per month, over a span of years.
Does SLV publish anything on the total number of shares outstanding ?
That would be interesting to see a chart of the number of outstanding shares, per month, over a span of years.
.
From the 2024 Annual Report
The Trust’s net asset value increased from $10,389,177,775 at December 31, 2023 to $13,401,259,004 at December 31, 2024, the Trust’s fiscal year end. Outstanding Shares of the Trust increased from 477,000,000 Shares outstanding at December 31, 2023 to 508,950,000 Shares outstanding at December 31, 2024.
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
Now $65.
http://ProofCollection.Net
The SLV trust deals with the Authorized Broker/Dealers who buy the basket for physical silver delivery to custodian, JPM. Supposedly this is confirmed before authorizing the new shares. After that, all individual sellers have found a buyer. I trade at Schwab. My sell may go against another Schwab customer or external to one at the hundreds of other B/Ds. The cash is moved between those customers, the SLV Trust does not participate in those transactions unless an authorized Basket participant wants to add more shares or redeem for silver delivery which will cancel those shares. All sellers have an offsetting buyer with no interaction with the Trust. The Trust only knows the Authorized B/D's, # of o/s shares and tonnes of physical in storage, and oh yeah, how much fees are generated as they take their cut daily.
Check your source, I'm showing $61 and change.
THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
COMEX #failed at trying to slam down the market again today lolz
COPPER is gutter !
.
Does SLV publish anything on the total number of shares outstanding ?
That would be interesting to see a chart of the number of outstanding shares, per month, over a span of years.
.
From the 2024 Annual Report
The Trust’s net asset value increased from $10,389,177,775 at December 31, 2023 to $13,401,259,004 at December 31, 2024, the Trust’s fiscal year end. Outstanding Shares of the Trust increased from 477,000,000 Shares outstanding at December 31, 2023 to 508,950,000 Shares outstanding at December 31, 2024.
Current Shares Outstanding 570.2M
The Blackrock ishares SLV site has a lot of useful information, although the prospectus stuff is pretty boring to read.