What in the world happened to silver over night?

.............yep yep if it stays too low watch premiums rise. buy the dips

 

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Well, we have sold the first house we put up in Az. in early 2003 Now just waiting for all of the "cuts": Dealer, Lawyers, taxes and taxes, etc. before we see any of it. Eventually we will probably sell all of them as I am getting too old to maintain them and they are in FIRE areas and insurance is very high for fire and the Temperatures continue to get worse. We hope for the best. Yes, some will go into precious metals.

 

My charts don't show a drop below 27.70 for spot silver, but may not tie into silver ETF funds. I don't care, all of mine is in coinage and carries a premium anyway and I have ZERO intention of selling anytime soon. I'll save that for my hospice days that will one day eventually arrive (hopefully not for 30 years) I did notice eBay had numerous lots of junk silver for sale that auctioned around $25 per coin (Morgans) this week. Gold dropped a little as well. Precious metals are going to be volatile through elections I suspect.

 

Do you still reside in AZ? Are these rental properties you speak of? I don't know any of you personally, it's just casual conversation.

 

Yes. they are rentals in Flagstaff, all close to NAU. We normally rented to college students, mainly the Athletics dept had resident grants for them and one supervisor in each house. After 22+ years it was time to quit.

 

A lot of people don't realize rentals to Animal House college type rentors isn't pure bliss and cash flow. And that's not changed in half a century. It's not political, it's just how it is, and how it's always been.

 

Renting out a home in NY State is a nightmare.......thank the Lord I dumped the place prior to covid. All consideration is given to the tenant.

 

In some states, the landlord has zero rights. Some states encourage squatters as well.

 

Welcome to NY.......

 

under 28.00 should I go or should I stay now..

 

Two short weeks ago we were at $31 silver. With premiums, shipping, taxes etc you couldn’t buy for under $35 from any ‘knowledgeable’ seller. Was $35 by years end possible? $50 or more next year? ASE when available went for $42+
No change expected in supply/demand in next couple of years. I’ll be buying anything, even ETF at < $28.
And don’t forget his rich cousin Gold. Turmoil around the world. India removed tariffs on gold & their huge market is a huge tailwind.

 

I was pretty considerate as college students go, and I still wouldn't rent to college-age me.

 

Bought a little more SLV at $27.67 equivalent Only a half position though. Come on uncle Jay Powell, back off the brakes

 

10 oz. bar at spot at apmex today: https://www.apmex.com/product/15009...duct150098-priceplay-corebullion-homepagehero

 

Too late to edit: India Reduced the import duty to 6% from 15%..
Now back to your regularly scheduled program

 

Whatever the offer was, it's now got a big SOLD OUT banner.

 

10 oz. bar at spot, no premium. Surprised it lasted as long as it did.

 

And so was I. Especially if the landlord left me alone as long as I paid rent on time and didn't destroy property. I did get revenge on an annoying busybody neighbor in my building the day I graduated. We had an all night kegger party and kept the dead awake. The day I left, I dumped half a keg of stale beer in her HVAC outdoor compressor unit. I would have preferred it be in the air handler, but that was in her apartment.

 

Own a rental in a college town and don't rent to students. That's the sweet spot.

As far as PM and enjoying gambling, the problems there for me have always been 1) it's like gambling but where the big casinos can change the odds overnight 2) when the price goes up, more of it magically appears out of the ground or grandma's jewelry and silverware.

 

To your past self........ "Don't go!"

Hindsight is a powerful thing, too bad it's not more useful!

I would say that silver tanked earlier this week, but considering that pretty much everything tanked, I guess it's not fair to single out silver.

After hovering at or above $30 for most of a 4 month period, I never would have expected to be dipping back below $27 in such short order. But, just goes to show what I know!