There is a flea market where we winter in Florida with perhaps 500 dealers. We go there maybe twice a month to check things out. Up until recently two dealers had a pretty expansive selection of silver rounds, bars and coins, but they have not been there since silver increased in price. I wondered to myself if they cashed out or possibly are avoiding the flea market for fear of being robbed. Thoughts or opinions?
With what the price is doing, they probably figured to hold onto it and see where the price goes. Why sell at $100, when $150 might be 2 weeks away?
Most flea market people I've known don't do it for a living. I would presume the likely situation is that they sold it all to a dealer in one fell swoop and are sitting on the 'profits'. At this price level and the rapid increase in the last 6 months, it would be silly, in my opinion, to not sell at least a sizable portion of one's supply into the market and walk away with 90%/130%/170% returns. Trying to game the peak is waiting to dodge a storm of falling knives.
Thing is, this spike doesn't reek of manipulation, moreso global unrest/unease, industrial demand, and the "more on paper than in reality" issue. Chickens are coming home to roost. So, I'm not even trying to time the peak, but I have increased my discount % in any buying I do.
If they sold like dealers in the antique mall that stock silver coins did, they probably ran out of stock.
