Silver Dropping Like A STONE!

Spot Prices from 21 to 23 not the problem for me... its the dang Premiums... regular run of the mill ,no holes dings on the Morgans asking 35 and up.. starting bids on ASE JUST A REGULAR ONE 65.00 and go and people bid... So you can still turn a profit if that's what your into... leaning toward gold now 1/10 ounce indians wow there up also... holding tight... but......

 

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Premiums on the bay down to $8 - $9 for a single coin but buying in bulk
your at half that and to me thats very reasonable

 

I hear you. To me, there are two "markets" here, spot and premium. The spot market is much faster to go up and down. This is large, industrial demand. Premium market is created by bullion dealers. They do not like to lose money, so they will sit on inventory if needed. Premiums always go up when spot prices go really low, and they spike when economic uncertainty hits. Premium prices always, at least the 45 years I have paid attention to these markets, take at least 6 months to a year to decrease after the spot market has calmed down. Look at posts here from 2011-2013, it shows this clearly.

 

I agree, premiums are up really high. I've been buying silver still but its been more numismatic stuff to fill my albums where there aren't major premiums on it

 

So how is the Treasury enforcing high premiums at LCS and bullion dealers?

 

It's like a windfall!! I'm gonna end up going broke just buying silver! I sure hope the predictions are right and it bottoms out around 15 dollars or less. I got about 3 more grand to buy with if I can find it. SD was out of 9o% yesterday not one circulated 90% silver coin! Had some BU's but very few of those. Probably out today

 

What melt down? Markets have a history of adjustment near year's end and now is a great time to buy silver if that's your thing. Prices will bounce back in the spring as usual after several more corrections, some of which may be substantial.

 

I don't like the way the Mint handles their prices. I guess they change their Silver and Gold item prices when the spot goes up or down..lately, only up. A while back I bought an item from the Mint. its price at the time I bought it was $1,500, but before they shipped it the price went to $1,490. I bet if the price of gold when up, they would have charged an increase?

 

I didn't realize silver dropped to $21.50. I figured it would start going down at some point but, I haven't been following it lately. Always liked to have silver in my stash but, it still needs to drop some more before I will buy some more. Keep in mind that the people that sell silver aren't going to be to quick to drop their price. I think at one point early last year silver dropped to about $12.00 per ounce but, you couldn't buy it anywhere. Then it jumped up to crazy prices and stayed there. If a person is in the business of buying and selling silver paid more than the current rate they're not going to want to take a loss and may hold on to their stack as long as possible with the hope of it going up again.

 

What goes down must go up! Buy now in my opinion. The gold and silver of today is the high price of groceries and gas...

 

Not sure how your reading that's what I said?

I only pointed out spot prices does not mean that's what a local coin store is selling for or the Bullion store is selling for.

 

So do you think the mint will drop their prices on silver products? Just kidding!!

 

You commented about Treasury trying to "stop people moving 'fake money' into 'real money'". Do you think Treasury is somehow artificially suppressing the reported price of PMs, while dealers add premiums to reflect their "real" price?

 

I think the government has more recently then ever before suppressed indirectly the global and local precious metal markets to keep people from turning our fiat petrol based dollars into old fashioned real money based on metals if it falls more then rises its to discourage people from doing it. on the flip side China & Russia are and have been the last few years adding tons and tons of silver/gold on a scale not scene before. prices are basically being artificially held down so big banks, investment groups and other nations can hoard metals as it looks like they are preparing for very bad times ahead. this goes in the exact opposite direction everyone is told to do by buying digital coins when in reality those in the know are sucking up all the metals. people are convinced to buy fiat digital tokens while those who are insiders are getting the real assets cheaper because they are not competing against investors who are fooled into buying imaginary coins not silver or gold coins.

 

Patience, my good man, patience, time will tell what the ultimate price may be. I'll just hang on to my few silver coins. What will "copper" futures go to when the United States gets out of the penny business? Should we start hoarding penny rolls?

 

Considering cents have been 99% zinc since 1983, I doubt it would affect the copper market sir. Copper miners actually are lobbying to do away with the cent, calculating it would result in more nickels and dimes produced, which are 75% copper.

 

Silver up 69 cents today. Gold up $34. Stock market takes a swim in the toilet.

 

I'm sorry, but this sounds to me like "everybody but us is ganging up to stick it to us". I don't really see our government holding down PM prices so China and Russia can get an advantage.

How are They holding down prices? I'm aware of some of the chiseling techniques big outfits use to skim off the top no matter which way prices are heading, but I don't see the US, China, Russia, all the big banks, all the investment groups, and all the miners conspiring to keep Little Old Us from selling our silver dimes at a fair price. We're not worth their time; our holdings, and the traffic we generate, are insignificant compared to theirs.

 

Your not seeing the bigger picture not everyone running the government is a patriot or has Americas best interest at heart. no conspiracy or direct collusion at all between any of them... just a convergence of mutual preferred outcomes.

Since it is outside the OP topic I will digress on the subject further.

 

Looking at my JMB order history it appears that the $16-$17 spot price was back in 2015-2016.