Big changes coming for SILVER stackers, and its not all good :(

Seems to me he'd be hurting from everything he bought leading up to Friday, and Friday afternoon would've been his day to buy! Or do the refiners lock in his price on the day he offers stuff to them?

 

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And tonight it’s all up again.

 

https://www.zerohedge.com/precious-...-sense-silver-fridays-utterly-rigged-nonsense

 

Crazy, huh?

 

I think the down draft will be short lived, heck its got to go back up sometime right?

 

It’s already up to over $87.00

 

Locks in the price, but still very stressful for him. Payment can be 5 weeks which is challenging for small shops.

 

I don't follow all P M distributers' terms, but Apmex will let you store it in their vault for a small fee...Their buyback is a min. of $20,000 dollars, so, a wire transfer will sell it back for a small fee when price is high...A smart investor can make good money by buying and selling like this and still have P M in storage... no shipping fees and fast transfers...you never have to see the goods. This allows small investors to make fast trades.

 

what gets me is silver prices have been typically 1% of gold. I just looked at the tick, and silver is close to 2%. Seems to me that $86 is still rather high.

 

Say wut?

 

I spoke to seven coin dealers this weekend at a coin show to get their take on the market. And according to them, there are still major dislocations in the silver market, especially concerning wholesalers' processing times and what the wholesalers are willing to buy.

If you're interested, here is a detailed write up of my observations from the coin show: 7 Coin Dealers Reveal Why Junk Silver and Other Coins Are Harder to Sell Right Now

 

Harder to sell, I read part of the article, but I have been watching U.S. Constitutional Junk Silver, and I have seen no problems where I shop at. The Silver dollars starting bid 65.00 to 87.00 and they sell fast as of yesterday. What was those dealers trying to get out of a Morgan or Peace dollar or they were not buying any Junk? I will refer to the fellas on here. They let me hang around and sponge their knowledge for free. These Guyz are serious about coin collection.

 

I think Coin is referring to 'hard to sell to refiners'. That's reasonable.

Actually, I've seen some coin dealers selling junk 90% at a slight discount to spot to retail buyers to, presumably, move it out of stock and get cash flow. They may have some junk silver for sale that was acquired below their current price and therefore are making a profit still.

Or if their not making a profit on that sale, it creates liquidity for them to buy .99(9) silver bullion and/or desirable gold (scrap and bullion).

 

I’m still selling coins at my antique shop but it’s not like it was in December. Silver sells slow now where it used to be as soon as I stocked it, it was empty again. Other, non-silver coins are selling now. It’s all a matter of pricing and what a customer wants. I don’t deal with refiners.