Silver dropped to $12 now is back to $15 in only two. Did it impact you?

Discussion in 'Bullion Investing' started by myownprivy, Mar 25, 2020.

  1. Mr. Flute

    Mr. Flute Well-Known Member

    That would be good advice...last week. But today silver spot is $14.45 at this moment.
     
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  3. TheFinn

    TheFinn Well-Known Member

    Read the contract carefully. Sometimes you have to take the the spot price of the day BEFORE you sell.
     
  4. TheFinn

    TheFinn Well-Known Member

    I never liked musical chairs. There are 300 ETF ounces of silver for every physical one.
     
    Stevearino likes this.
  5. medoraman

    medoraman Supporter! Supporter

    But you are missing his point sir. At times there are differences between big players, (paper market), and tiny players, (physical market). This is called a basis spread. At those times, take advantage of it by locking in your PM base price on the paper market and wait for the basis to shrink. You could have locked in a base price of $12 for silver, waited for the basis to return to normal, then sold the paper and bought the physical.

    No one is talking about converting your paper directly into physical silver. Your 300 to one ratio is VERY VERY NORMAL for derivative markets like PM. Almost every market works the same. I literally could write a book why, but many others already have so pick one up and learn about the markets.
     
  6. Reid Morgan

    Reid Morgan Member

    @medoraman gets it. If you learn how markets work, and 99% of players in that market DON'T, then when an unusual market distortion occurs, you are now in the magical world of arbitrage, which is, in essence, legal insider trading, of a sort. If everyone knows something, then the market clears the new information, the opportunity for arbitrage disappears.

    In layman's terms, "you snooze, you lose".
     
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  7. Reid Morgan

    Reid Morgan Member

    Once again, the $14.45 price you refer to is the paper silver price per ounce. The physical silver price is now north of $21 per ounce and climbing. In the 3/30 weekly of Coin World, the U.S. Mint has 100% depleted its supply of silver eagles, as demand has gone up 300%. It has no more to sell.

    You're STILL snoozing, man!

    Let's list just a few points.

    The US$ has been a fiat currency since 1965;

    The Treasuries market locked up with a liquidity crisis and took $1.5 trillion to bump up the market FOR AN HOUR.

    The corporate debt market also began to lock up and the Fed committed to throw another odd trillion $ or so.

    Just a day or two ago, the Fed committed to print an endless stream of fiat US currency to prop up the world's economy, all based on fiat currencies.

    You read today's unemployment report? You read the regional Fed chairman's prediction of our expected unemployment rate by year-end?

    I hear snoring about $14.45 unobtainable physical silver. Wakey, wakey!
     
  8. Jeffjay

    Jeffjay Well-Known Member

    I had a old Craigslist ad offering up some 90% silver that I forgot to take down and had offers as high as $25 per ounce when silver was in the
    $12-13 range.
     
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  9. TheFinn

    TheFinn Well-Known Member

    I'm not missing the point. ETFs of PMs is no different than me selling pictures of Ferraris and selling them as cars.
    If you can't hold it, you don't own it. PERIOD
     
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  10. medoraman

    medoraman Supporter! Supporter

    You do know ETFs are not the same thing as futures and options, right? An ounce of ETF ownership is back by an ounce of physical metal. I was referring to ETF ownership, not futures. Get enough ETF contracts and there are provisions for getting the metal in return.

    Either way, I don't care. I was trying to show you how to lock in a lower PM price when your physical dealers are trying to hose you, but you know what they say about a horse and water.....
     
  11. TheFinn

    TheFinn Well-Known Member

    This is from CME, "Although several ETFs track the price of silver, only three are backed by physical silver."

    I've never heard of paper silver being used to make cellphones, or solar panels, or...
     
    Stevearino likes this.
  12. MK Ultra

    MK Ultra Active Member

    What's the best way to find the physical price at any given time?
     
  13. Jeffjay

    Jeffjay Well-Known Member

    I use www.coinflation.com
     
    MK Ultra likes this.
  14. Stevearino

    Stevearino Supporter! Supporter

    I go to Coinflation. When I check Apmex it is very close to the Coinflation site.

    Steve
     
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