Silver Is On A Tear Today

Not knowing mint of origin = slightly aggravating

Design given = priceless

 

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should be 7.50 under or better I would think. Also I believe silvertowne Mint and the companys that are JM owned make those rounds.

 

We got there late around noon.
Looks like $85 an ounce is the buy price for generic and better pieces IF the seller is motivated.
I saw a one ounce generic silver bar sell at $95.
The buyer didn't seem to care what was on the bar and just had the seller pick one from the pile...FOMO Probably had something to do with that sale.
Spot silver today looks like $89/$90.

 

I hit a different dealer today. 90 for an ounce. He was only buying to keep his stock filled at $85.
I thought he was pretty fair, enough that I bought a Peace dollar from him for $73.

 

Yeah, he said it wasn't fair to his customers, and wouldn't do it.

 

@masterswimmer, those are actually pretty popular at some stores. Just watched a video today where one of the more popular youtubers was trading 52 of them on an oz of gold. The best part was he bought 100 of them 8 months ago with a 1 oz gold eagle and was back to give back 52 of them for a 1 oz gold buffalo. Made 48 oz for free off this run up. The store was happy to get them back as they were out and that was the last gold they had at the moment.

Watched another video today that was quite informative discussing when will gold crash and what it takes. Everyone thinks it has to plummet just because it "has to" now but what it took in the past won't happen anymore. The calvalry isn't coming this time I'm afraid.

It will take some new issue we haven't seen before because the value of the dollars not coming back, the World is getting out of dollars and if the new Fed chief does anything they'll be lowering interest rates which will drive PMs higher in the near and mid term.

They raised interest rates to 20% at one time to combat inflation and PMs collapsed. That's impossible now. Because of government debt, interest rates will never be out of single digits again. Interest rates are actually dropping now. I just refinanced a vehicle I got seven months ago and lowered my rate 1.4% with perfect credit both times. Same bank.

 

I checked with a dealer this evening and they're offering $5 back as well at the moment.

 

My baby brother who is a financial rockstar and owns half the rental properties in Oklahoma just called me to ask if he should sink some of his cash in silver right now…… I really didn’t know what to tell him!

 

For me the market has to chill out. I think that they are trying to price the common guy out of the market, and they got the Bear.
I am not ready to have them price me out of my fun, nor my hobby. My right foot is stepping a little harder towards the constitutional side. Thats my opinion.

 

Came back to right around 90. 65x face for 90% silver coins.
I have 85 Rosies I want to move at around 59x face. I bet I can't get more than 50, as they will all fear a drop in spot and buying too high.

 

$15 under spot is the lowest price I’ve heard so far. I couldn’t do business with them.

 

At least silver closed above $90. Not much but above. Now the long wait until the market opens on Sunday night overseas.

 

So, how is 20 under on constitutional.

Yeah, no one is doing business with that guy.

That was a fast week.

 

Good for them!

 

That as Silver Stacker on YT .. I saw the same video.

1.4% ? that's low.
I just refi'd my truck at 4.9% and my credit score # is in the 800s

I'm worried more countries will get out of US debt and decouple from the US dollar and exports.

makes me wish I bought more PMs over time instead of a slow trickle.
I have a spreadsheet of everything I buy but I only track purchase price.
The other week I calc'd just the number of ASEs I have vs spot price and that was quite amazing result.

 

For you viewing pleasure, this is what one million silver dollars looks like:

https://digitalcollections.lib.washington.edu/digital/collection/imlsmohai/id/94

 

If I had that many I think the weight alone would crack my basement concrete floor.

 

Around 62,000 lbs I think I would risk it !!

 

I didn’t say I wouldn’t risk it but I do think a basement floor is not think enough to support that much weight in an area of that size.

 

No, it's not 1.4% now, I dropped it 1.4% by refinancing. My score was in the upper 700s when I got it and now was over 800 but I just happened to get the loan at a relative high point by today's standards and they're dropping back down again. My new rate is just above yours. There was no promo on what I got so had to find the best the banks would offer.

Yeah, everybody wishes they had bought more but everybody did what they could. Knowing what I know now it makes me wonder if I had leaned more to the stacker side than the numismatic side over the years. After you see significant spikes and drops followed by years of flat line stagnation in spot prices, you just take it for granted and get used to it. If not bored over it. Now everybody wants on the band wagon now that it costs a small fortune. But, it might just keep going too. Who knows.

Everyone thought the comex was going to reign in the runaway prices and it looks like they've only managed to slow the gains for now. Future fiscal policy and foreign affairs leads me to believe the the green up arrow may only be getting bigger. Might have to add an arrow.