silver: hold or sell?

While this statement is true, industrial demand has outpaced any decrease in demand caused by digital photography. Overall demand for industrial silver has never lost any ground because of this.

Actually industrial demand has continued to rise even through the digital photography boom.

One more point.... I think people need to realize that the investment demand for silver is very high. When people talk about a shortage they are speaking of the supply shortage of investment products.

1, 10, & 100 ounce bars/ rounds, are not considered industrial silver. They are investment products. So there is not a shortage of "SILVER", there is a supply shortage of "investment" silver.

You can buy it, but you will pay premiums. Also saying that the US mint is producing as many or more ASE proves nothing. The mint cannot meet the investment demand period. They have scaled back their distributers, and flat out quit selling because of a lack of planchets. They issued statements admitting this. They may have resumed minting since then I'm not sure.

Furthermore, certain locales and coinshops have more or less silver depending on local demand. My local dealer has had no silver rounds for over two months. He has ASE's but he is charging $19-$20 for them. He has been bone dry on 90% US junk silver too, but he has been able to replenish his inventory from time to time.

So while silver is available it would seem that my story is a common one. All the new stuff is getting swiped up and sold at a huge premium, ASE's are selling for 6-10 bucks over spot, and while silver isn't scarce... it is being physically purchased enough for the market to be visably different than it was just 6 months ago.

You can argue that coin shops hold onto inventory and therefore are reluctant to sell at new lows, but large PM dealers turn over inventroy quickly and are still not offereing reasonable prices.

APMEX is charging $2 over spot for generic silver rounds. I remember when they sold almost right at spot price. ASE's are still SELLING IN THE $15-16 range.

It is almost as if there are two silver markets. I think silver investors need to realize that their silver makes up a minute portion of the silver demand, and that is a spererate market in and of itself. I bet industrial users of silver are getting silver close to spot. I bet you they do not have supply problems

 

Log in or Sign up to hide this ad.

I think this verse was reffering to the imenent invasion of the babylonians...

 

I found this read very informative.

I have a series 7 holding friend that invested 100K on rhodoium and Zinc and other lower grade precious metals. He invested for his clients for about 8 months and they sold out and made a huge profit he bought with ($75k down) himself a 2006 Bentley Continental same one paris hilton has as he puts it. imagine driving a $177,000 car.

What are we doing with these precious metals??

 

I would never take investment advice from someone who spent that much money on a car.

 

Everyone has said some very interesting things and some even know what they are talking about, but the facts are that silver is falling and it will contenue to fall until what ever factors balance out.

How to get back to stainless original question; if you have not sold your silver by now I would hold on to it. Wait until after the first of the year and see how the market is holding up and decide then.

 

buy low, sell high.

or do as I do, buy, and then watch the market tank 'cause I waited too long.

[and listened to the advice of others.]

 

I bought some silver today.. we'll see what happens.

 

The trouble now is finding someone/a dealer who is willing to sell at a resonable price just over spot. I went to my local dealer yesterday and asked to buy whatever silver he was selling at spot + a resonable cost which was $11.22/oz at the time. I would even take 90% if he had it. They are still selling the silver eagles for the same amount as they were 6 months ago. They have too much invested in all the silver that they purchased within the past six months that they would rather sit on it than sell it.... which from a business standpoint, I understand.... and they can do it. The same goes for the gold they have. No deals to be had there. So it begs to ask the question..... if many dealers are sitting on their inventory, where does one pick up silver or gold at a resonable price above spot? Is anyone finding any deals out there?

 

Silver price?

First thing that i'll say is that i'm not an expert, and i just try to follow
any indicators that i see. The auto sales are slow, which have helped to freefall Platinum. I'm told that summer has usually been a slow precious metals pricing period(granted gold has been dropping since March).The presidential election is closing in. There could be alot of selling to position themselves to profit on the election outcome. Obama is talking a high 28-38% capital gains tax. McCain is looking at a much lower capital gains tax. The smart big money will be liquid after the election, and probably already has an investment game plan for whichever candidate wins. I think this whole commodity slowdown has alot to do with the coming election. Why buy something that you can't sell quickly, if you sell your hammered with a 38% capital gains tax + a higher dividend tax. My opinion is the big money is getting liquid to be flexible to any profit direction, resulting from the election outcome. Short answer to your question. If Obama wins i'd look for super slow precious metal interest, if McCain wins things could mirror the pre March period...My opinion:desk:
stainless[/quote]

 

So he's trying to tell us to buy Platinum instead???

 

How much did you pay considering that silver has dipped below $10.95 today.

 

Ouch . . . I juss checked it. $10.72 and was down to $10.62 makes me wonder about silver holdings right now.

 

I've been able to find a decent dealer, friend of mine. I've been stopping each day and buying a roll of junk silver dollars. Usually a $1 to $1.25 over spot each day, but he is starting to have trouble keeping inventory. Last week he was down to one Maple Leaf and one Kruggerand in gold inventory. I'm sticking with silver and trying to cost average all the way down. I don't know if I'm right or wrong, but at this price, might as well keep going. If it keeps dropping you will hear a loud "glub,glub,glub" as I sink in the depths of Lake Meade.
Vegas Vic
Vegas Vic

 

My buddy makes $420,000 a year day trading he is a partner in "MB Trading" firm located in So Cal.
He's the wealthest 27 yr old I know who never graduated h.s.
Cool guy a very good day trader.

 

I have a buddy who makes big $ one year and loses big money the next. Easy come easy go (I know the type)

 

I think that anyone who answers authoritatively is fooling themselves...Mike

 

I wish him well, but would never give him money to invest. I've seen many that fit his profile, but 90% of them eventually blow up.

 

You are correct, of course. Nothing is certain. But judging from the fundamentals and the cost of new mine production, the long term path has a high probability of being up. Silver is about the most volitile thing the average person can accumulate, and 50% up and down moves over the years passes for normal. I appreciate the "second chance" to accumulate more at what may turn out to be bargain prices ten years from now. :thumb:

 

Spot was $10.84 when I bought. I purchased new Silver Eagles at $14.83 apiece from APMEX.

I checked their website today and they're not offering new Silver Eagles for sale. I'm certain they haven't sold out, so they've probably pulled them and are waiting to see what silver does...

 

I just checked APMEX and they're available now...