Silver getting crushed today

I meant just accumulating cash in your bank account. Or investing in something else besides gold and silver. But you did have a great idea in case of an emergency. I would go with twenty dollar bills though.

 

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Oh I have those too.

 

Can I borrow a couple Heck I do not know what pres is even on those.

 

In my area of Southern CA (despite my name) $100 are common, in lieu of a checking account.

 

Yes I did get some a few weeks ago when you were in timeout.. I think.... U still grounded??

 

Darth Vader Coins UM......

 

Kind of. I'll probably get a tube of Vaders and half will be given as Christmas presents. The Spiderman coins interest me but way high of a premium.

 

Oops ...

 

Where is the summer Spike?

 

It's right there in front of you.

What, you wanted us to predict the direction, too?

 

Keeps this up I may have to sneak a ten ounce bar in.

 

looks like it just kept going down

 

Huge drop, but all the PM.S are getting killed as of this moment Gold down $23.10
and Platinum down $20.50 but Palladium is the only bright spot at + 4.40

 

That's almost $20.00 each right? At least the Bullion buyers will stay away at that price, unless they can get MCM or one of big sellers to sell them them for spot to them.

 

Looks like we're going to open below 16 today.

Premiums for the cheapest ASEs at Provident are more than $3.50 over spot. They list spot at $16.07 and Choice ASEs are $19.56

 

Yea I saw that they want close to $2.00 over spot for generic rounds and close to that an ounce for 10 ounce bars. I backed right off when I saw that.

Edit : I see now I can buy 10 ounce for $16.98 a ounce.

 

Kinda funny.

Random year ASEs are $19.47
BUT 2017s are $18.98
they list spot at $15.98 right now 9:39am.

I've noticed over time that their premium widens when there's a price decrease. It all depends probably what they bought their stock, and wanting to minimize losses based on sales of (spot+fixed premium). So they have a (spot + floating premium based on inventory cost).

 

I find it amusing that people will pay $18 for physical silver one day when the paper price is $17, but will not pay $18 for the very same silver the next day because the paper price has dropped to $16. It is the very same silver and is going to sell for the very same price five years in the future.

 

Can't seem to find gold, or silver that actually reflect the lower prices either.

 

It's all a perception of price trends. Most people actually never track actual price based on spot price. usually when there's a "SALE" people go gangbusters and go buy irrelevant if the price actually dropped at all.

One thing learned from general Consumer Shopping/Buying habits. A technique many merchants are great at. Just research Kohls department stores, or many of those shoe places.

But people will think a downwards PM spot trend as saving money if they wait for a further reduction, because they perceive they are getting a value as spot has decreased. When in many instances the actual price hasn't decreased.

Also, many people, especially pure PM "stacker" based buyers are price sensitive based on spot price as they want to lower their average price per ounce.

Of course, if we knew it was going to sell in 5 years for the same price. Then why buy it at all? That would mean that spot price will *never* change .. 5 yrs,, then the next 5 yrs, the next 5 yrs, etc and technically, it should have been the same 5, 10, 15 etc years ago too.