Silver getting crushed today

Banning all the moderators is probably simpler and easier on everyone else.

 

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OH MY......WHAT U SAY SAKATA ? from Missouri say again please............its okay..

 

Pretty sure volunteering to be a moderator is grounds for instant disqualification.

 

Someone about to pay $22.50 plus $3 shipping for one of the bars just like the big E 1 ouncer which cost me only $18 today.




And the early 1980s bars I also paid $18 for here they are selling at $21 an ounce, not including shipping (with two days to go on the auction).



Look, I may not even sell these. Who knows, I may give them out slowly as gifts to friends, but if I do sell any of them I know I can get my money back and then some. I dont know why, but there are stackers that go crazy for these Englehard 1 ouncers and pay outrageous premiums for them, and the premiums are only getting higher as time passes.

Not such a bad purchase now, right? That being said, I think two of them will get gifted to some of my friends for Christmas, maybe one for my 7 year old son as his first bar, and the last two are going into my safe to either gift away later or maybe eventually sell to someone on Ebay who will give me $6 or $7 premium on them (hopefully when silver has another $20 or more rally at some point in the future and the "To the Moon" crowd decides to open their wallets generously) .

 

Like I said, historic sized supply glut. Of course, there's also a historic sized glut of people who have a near religious affinity to PM's. Fools, money, you know the drill.

 

speaking of religion ....

 

NYMEX makes the moves and the rest of the world essentially does not much.

 

general tidbit of information about manipulation of markets ... https://www.marketwatch.com/story/l...-info-to-rig-us-treasurys-auctions-2017-11-16

 

B-MAN OR WHOEVER what is the formula if your paying a dollar over spot, says 17.70 is a dollar over spot then u multiply it by .7234 or .715 for 90% should be paying 12.69 for face value......... never mind I screwed that up...let me re do this..

 

If you guys ever want to pull up the annual reports of the second largest silver mining corporation in the US:

https://www.panamericansilver.com/investors/reports/annual-reports/

The bottom line is that in most of their mines silver is a secondary byproduct, and they are pulling it out in some mines at a cost of $1.25 per ounce, and the average mining cost is $7 per ounce. Basically they are making money like nobody's business.

Oh, and production costs are decreasing every year as they switch more and more to machines to streamline the process. Which means next year it will probably be even cheaper to mine that silver.

Now go watch the silver pumpers on YouTube, whom are being paid by JM Bullion and other bullion companies, and they'll tell you that these companies are about to go bankrupt, that they can't make any money unless silver goes above $27 an ounce, etc.

 

Ah yes, lies. Lies are the best friend of silver promoters.

 

Well, actually lies are the best friend of any promoter, not just silver.

 

Monarch Precious Metals will pay 98% of spot price on any .999 bars that are not theirs, and 100% if you take store credit towards any of their products. I believe PG&M will also pay about the same.

Just saying, you dont jave to get ripped off by a coin shop. You can send silver to refiners like Prospectors, MPM, OPM, etc. and get a check for almost spot price... which is what the coin shop owner does after he gets done buying the bar from you at 75% of spot price. So cut out the middleman and do it yourself.

Some of them will even buy your sterling silver, and some will even refine your old silver jewelry and send you pure 999 bars back in exchange for a 5% cut of however many ounces of pure silver they get from your pile of sterling silver.

There is no reason to sell to a coin shop these days, unless you just need the money today and cant wait 7 days for a check.

 

Yeah, but, but, but ... we're supposed to be pro-bidness, right?

 

Nice try Kurt !

 

Sell Sell Sell, Up Up and away!

 

Actually, not a bad idea. Oh wait, it's supposed to go to $50/oz right? And FRNs will be withdrawn from distribution and everyone is going to use PMs as money from the rumors I've heard as the new Mnuchin $1s have a known defective component to them - ie, they're worth less than a $1 compared to the old FRN.

 

PMs certainly caught a bid today.

 

Don't believe everything you read. Only the first of those is correct and one out of three is not so good.

 

http://www.kitco.com/news/2017-11-1...n-Rising-Oil-Lower-Stocks-and-U-S-Dollar.html

(Kitco News) -The gold market is posting good gains in late morning dealings Friday. Outside markets are lending a helping hand to the precious metals markets bulls. The U.S. dollar index is lower and crude oil prices are solidly higher. U.S. stock indexes have also moved to lower levels on the day, which is also benefitting the safe-haven gold market. Pre-placed buy stop orders have also been triggered in the futures market when prices moved above near-term technical resistance levels. Gold prices are now poised to close at a bullish weekly high close today, and also close at the highest closing level in a month. December gold was last up $12.20 an ounce at $1,290.30.
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here's GOLD