Silver short squeeze

I’m long term silver, since much of my collection is silver, like most members here
Won’t buy much unless below $20
Then I’m in again, even SLV
I’m still adding gold, slowly
Gotta be a deal for my money. I’m old lol

 

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I do, of course, wish I'd dumped a bunch of silver on eBay Sunday night and Monday. Or sold it to JMB or APMEX at the peak. Oh, well. This won't be the last bump.

 

Nope, the rolly coaster continues.

I was hoping to swap a few hundred 40 percenters for a nice $10 Indian.

 

Or maybe a $2.50 Indian

 

SD quoted me $1200 for the 40 percenters. I didn't move quickly enough before the drop.

 

Not wanting to "like" someone else missing an opportunity, but yeah. Of course, if we knew when the top would come, so would they, and they wouldn't buy then.

 

I didn't expect it to drop so fast i also was hoping to sell some silver today and get some gold.

 

Unless you're selling hundreds or thousands of ounces of silver, is it really worth it ?

Better to buy or sell SLV or other ETFs.

 

Well, Gold is cheaper today.

 

My plan was to buy a half eagle sell my quarter eagle for around $300 then all I need is another $200+ dollars sell some silver and buy one without being broke in the end but i will have to wait a little longer I guess.

 

I love cheaper gold! For me it’s a hedge against inflation (politicians) and a store of value.
If my gold goes up too much I start to worry about our way of life

 

If you really want to sell, I recommend that you list your believed "difficult to sell product" at a discount to average eBay price, on a site as eBid.

I had ~$1200 normal eBay value "quality" 90% Silver dimes/quarters/halves listed on eBid @ ~20% below eBay comp. price. Everything sold to a repeat buyer, as the lot price passed through melt value price.

Based on past Craigslist selling experience, I could have easily sold on their site, but as Silver prices fluctuate downward, generally every contact is from someone who wants a significant discount below reasonable melt value. They don't consider sales tax and shipping expenses when I recommend a B&M purchase. I don't bother with Craigslist until after an eruptive event, as last friday, when realistic past buyers call asking what I can supply.

I sold to past buyers, and wont advertise on Craigslist, as I believe we've seen a temporary Silver pricing anomaly.

JMHO

 

Sure was a lot of hullabaloo over nuthin’ it appears.

 

Sure will keep the short sellers alert,
for awhile

 

It truly was nothing from the start. Reddit never started or endorsed this action like they did for GameStop.

 

Then when it hits $50 or whatever, will you be sorry that you didn't buy in sooner? That's a losing proposition. Buy when you can and hold it.

 

Well, I have been looking at the silver market for maybe 40 plus years at this point. One thing I learned, its usually NEVER "to the moon" and usually goes up when economic turbulence hits. Would I liquidate all pm at a price point? Probably not, but if silver or gold or PT got really crazy I might sell my position in those metals. I was around here when silver spiked in 2011-2012. Tons of people, no longer here, were showing how silver was going to $120 an ounce, and shouting down us "old idiots" who objected. I sidestep buying when its crazy, but add to the pile when its reasonable. This is a contra asset for me, so its balancing out my stocks and other assets. Therefore, I have pretty firm hands, usually never selling, but could be convinced for a price. It would also depend on the economic outlook at the time.

I was telling people here a few years ago it was a great time to buy. Prices lowish, premiums low, and no competition. Most new PM people weren't interested then. I am not a fan of "whenever you are interested buy as much as you can" since most people AREN'T interested until after prices and premiums already up. Buy when its boring.

 

I don't buy above $16 per oz. Historically spot silver has been below that mark sooooo much more that for me it just isn't worth it. I accumulated enough at those levels to justify the pullback above that price point. I feel the quantity of available silver is just too much to gamble that it'll remain high. Again, history has proven that spot silver struggles to reach $20/oz most of the time. Obviously there are those times that spikes occur. Unfortunately for us accumulators those times are rare and far between. Those are the times to unload because I do believe silver will retreat to the sub $20/oz price again. At that time if I'm so inclined, I'll buy back in.

 

My past experience is that silver -- or gold -- can triple or quadruple pretty easily without a big correction over a few years period.

I think silver could get to $60/oz. in the next big upcycle. It will take increased silver usage in electronics and semiconductors to make an assault on $100. That may happen closer to 2025-27 from what I am reading.

 

Silver is probably closer to the basing LOW than this cycle's HIGH:

https://www.macrotrends.net/1470/historical-silver-prices-100-year-chart