How low Below twenty until buying?

Well...it's hitting effectively $20/toz right now.

Goes lower? I believe it will jump back up to $21-22 by this Friday or next Monday.

Computer run algorithm created fluctuations.

 

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PMs spot is moved by interest rates. Big players borrow to buy futures contracts. Our buddy Jay Powell says rates going up. Hence spot going down
Supply and demand are overwhelmed

 

Insider tip: the local show where I typically sell silver to dealers is this Saturday. Don't expect any sort of recovery until Monday.

 

I kind of feel the same as I just bought 5 modern common commemorative US silver dollars this past Saturday for $20 each and then two 1 toz bullion coins yesterday for $26 each (a Britannia and a silver Kruggerand)

 

I cost average by buying 4 times a year. I buy 15-20 ASE's each time. Plus a roll or two of quarters. My favorites.

 

I doubt anybody is writing or running alogorithm's for silver.

 

Fine. Buy/sell programs. I believe the professionals mess around with large enough paper transactions to squeeze out regular profits on 5%+/- fluctuations.

 

Sure enough, back under 20. Maybe I should be looking to buy this weekend -- nah, shows are for selling. For buying, it's underpriced lots on eBay, or pawn shops, or CoinStar return slots.

 

The spot drops to the twenties and these sellers still want 10 dollars for a walking liberty. I like Jeffs' CoinStar return slots comment though. If I see one these machines now when I walk into a place, I will glance over at the return slot or go look and my wife looks at me and shakers her head and I tell her, but I read it on the net some people find Silver in them. then the Eye roll

 

Mr. Powell says ‘Terminal rate likely to be higher than we expected’
Lookout below for PMs. Don’t sell unless you need to pony up at tax time

 

I always look. My wife has no problem with it as the below was a coinstar find of mine in 2016. She even checks them when she's by herself.

 

Elevator down fellow PM owners. Add to positions at your own risk
Bank runs on Silicon Valley Bank & Silvergate. High tech and crypto
When the tide goes out, we all see who’s swimming naked

 

And there goes SVB
Second wave from this bank failure will sink many good boats

 

Ehhh, the only boats that'll sink are those with account balances above $250k. The FDIC (read, the American taxpayer) will toss the life preserver to the smaller accounts.

 

Just buy until it goes up enough that you feel it’s to costly. Then it’s a holding game.

 

Ehhh, SVB was a very large bank. A major source of funding for US innovative companies. Startups in technology, health care, etc. (read, world leadership in quality of life).

https://www.cnn.com/2023/03/11/business/svb-collapse-roundup-takeaways/index.html

 

The next wave. Companies with deposits in SVB
https://www.cnn.com/2023/03/10/business/roku-svb-cash/index.html

 

Many, perhaps most of our members, consider our PM holdings as safe havens. In the near term, weeks, that will drive prices up. Demand driven. When the trading on the commodities futures, driven by interest rates, takes over, another drop below the magic $20
That’s the dip to catch.

 

I usually go to our local coin show to sell junk silver, sometimes better stuff or gold. When I was camping on eBay new BIN listings every day, I had a steady stream of stuff coming in that I could make a (usually small) profit on.

But I don't have time for eBay these days, even though the bargains still show up occasionally, and it just... feels like the wrong time to run down my PM holdings. I'm not short of fiat, and with silver having been above $24 just a few months ago, $21 doesn't seem like a great yield.

I was thinking about going to the show anyhow, just to get a feel for sentiment in the wake of yesterday's bank oopsies. But time's short today, and I think I won't make it. Might go tomorrow -- the guy I like to sell to doesn't show on Sundays, but I could still talk to other people.

 

Monday morning, and silver has just shot up to $21.50, up almost 4% from Friday. And I didn't sell any over the weekend. So much for my time-tested forecast model.