Discussion in 'Bullion Investing' started by SilverForLife, May 7, 2013.
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I am into silver...thanks.
Have that too. Just don't see why you post these things.
Because it's too much of a gamble not to. Bullion dealers, and to a certain extent coins stores, shouldn't give a flip about what the current spot price is because they earn their profits on the spread. Sure, prices dove faster than many dealers could sell, it happens. It doesn't look like it's about to shoot back up any time soon so they might as well move that inventory.
Any dealer that keeps their inventory stashed away because the current prices are not favorable will be hurting big time if the prices continue to fall. Of course new inventory will come in and they'll sell that no problem, but that old bullion that they bought a month or more ago will still be sitting there, mocking them: "Can't sell that for less than I bought it for, even if it doesn't make any sense..."
Mine are doing good too. I was concerned that one of them wouldn't sell at the lower prices, but he sold off most of his silver bullion inventory to a guy that came in right after the plunge and was willing to buy at $30/oz.
I don't know that either have hundreds of OZs, but they aren't sold out because there doesn't seem to be any shortage of people wanting to jump ship on precious metals. I just wish some of those people would respond to my craigslist ads.
unprecedented levels. Do they know something we don't, or is it simply that far undervalued that they can make a profit on the physical metal?
That being said, the coin shops in my area are out of eagles. It's a 2 week wait if you want to pay outrageous premiums. What generic metal is in stock is $5 over spot.
My LCS is showing out on ASE's, 50 Pesos, 100 Coronas and 90%. What we'll want to watch if both declining supply AND/OR increasing premiums. Either are a sign that the divergence between the paper price and the street price is growing.
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