Reply to Thread

Message:: [QUOTE="2schnauzers2luv, post: 1171339, member: 26161"]Went to my coin club meeting tonight.  One of the main club members works at a coin shop on Saturdays to help out a buddy of his that owns the shop.  He gave a "warning" in regards to silver and I wanted to see what you guys think about it.  He said: His buddy the coin shop owner has talked to 7 of the "biggest dealers" in the U.S.  They said that once silver hits the "magical" $50 number, a price spread is going to take place initiated by them.  That the $50 per ounce number will be the point when people unload all their silver because that's the number stuck in alot of peoples heads, that signals a time to sell.  However the new price spread will be in effect at that point, and dealers, shop owners, whomever will only pay between $40-$45 per ounce.  Maybe a little less.  The "price spread" is the amount of money between the spot price and the price dealers will actually pay people for their silver.  He was very insistant about this and said it is going to happen.  He said you will get more money if you sell at $48-$49 than you will if you wait until it hits $50. My questions are these:  Is this possible?  Could and or do "big time dealers" have this power?  A coin shop owner in a quiet little town in Oregon is in contact with the 7 biggest dealers in the U.S?  And they shared this information with him?   Personally, I'm holding on.  I don't believe all of his story, but can't figure out why he would lie, if he is.  Maybe this is just another story that's been dreamed up by someone to add drama to the market.  Who knows.  Anybody have any thoughts?[/QUOTE]

Create my FREE Account!

Log in or Sign up

Reply to Thread

Useful Searches