Has anyone on SS backed up the truck?

Discussion in 'Silver' started by STKR, Mar 19, 2020.

  1. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Are those the 2oz horses you bought at $50? I’ve been too busy with gold and low premium, forgot about the 10oz QBs! Now I checked, all out of stock. :( 2 oz still plentiful.
     
  2. STKR

    STKR Well-Known Member Silver Stacker

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    I'm sorry but you're so far away from reality with this narrative. There is no way every Bullion dealer in the world would simultaneously withhold selling their product.
    Do you not understand hedging?
    Also, If gold and silver were easy to get right now, why would they offer to buy back at a higher premium?

    Other than to fulfil this conspiratorial fantasy that yourself and people alike have about this physical shortage/supply bottle-neck, your story makes absolutely no sense.

    I urge you use a bit more Brain power when analysing this situation.
     
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  3. alor

    alor Well-Known Member Silver Stacker

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    sad spot is so low, yet prices premium up
    but collection could complete hopefully
     
  4. Pirocco

    Pirocco Well-Known Member

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    In september 2018 I bought a monsterbox Philharmonikers at 14,19 € per ounce. USD spot was then around $15
    Now it costs €16,79 per ounce, while USD spot is $13.
    It's not even worth backing up the truck.
    Most part of the explanation is the USD, it's now like 10+% more than then, opposite for €, that is now for the 4th time closing in on the lowest since 2004
    Me as paying silver with euro's it's better to do so when euro is high.
    For those that pay with USD, it's indeed backing up the truck time. Strong dollar, weak silver = biggest amount silver for the dollars.
     
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  5. Pirocco

    Pirocco Well-Known Member

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    10
    Hedging is ordering 1000 oz, driving up the silver price with it, then taking 2 futures positions of 5000, driving up the silver price a second time, then sell the silver to suckers paying the double driven up silver price, then dumping the 2 futures positions, driving the silver price down with it, then saying customers it's out of stock and encourage them to sell silver back to them at the lower price, driving the silver price down a second time since they don't have to order then at their suppliers - which is the answer on your 2nd question.
    GOTO 10
    Do you understand hedging, or are you jesting?
     
  6. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    There's been a few comments regarding premiums and non availability of physical silver.
    20 March 2020
    Exchange rate 0.5853 (AUD vs USD)
    2020 Australian Kangaroo 1oz Silver Bullion Coin - Buy $24.21 AUD (Available from the Perth Mint)
    20 March USD spot price - https://goldprice.org/gold-price-australia.html
    Perth is 12 hours ahead of New York

    I think you'll find the premiums are reasonable for a minted 99.99 silver coin. :)
     
  7. dollars

    dollars Active Member Silver Stacker

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    I believed hedging for a dealer was selling 5000 oz to your customers and buying 5000 oz future position until you can arrange a order/delivery to replenish your stock. Or conversely you buy back 5000 oz from your customers and sell 5000 oz in futures market until you can off load the extra.
    Numerous other alternatives available Using CFD ‘s , put/call options , Futures , mini futures etc. even possibly using Perth Mint depositary account as a float ... all come at an extra cost to offset all or a portion of the price movement risk

    Interested in any other points of view including dealers who do hedge their positions.
     
  8. STKR

    STKR Well-Known Member Silver Stacker

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    So you believe every Bullion dealer in the world is conspiring against us?
    Just like how our supermarkets are all withholding TP and hand sanitizer ay?....

    I think your brain is withholding rationale and common sense.
     
  9. slavaja

    slavaja Well-Known Member Silver Stacker

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    Silver is on fire the ratio is now 114
     
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  10. STKR

    STKR Well-Known Member Silver Stacker

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  11. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Back to OP.... Backed up the Au truck in 13/14 at AUD$1300 to the tune of 6 figures.
     
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  12. STKR

    STKR Well-Known Member Silver Stacker

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    I bet your stack looks extra shiny today!
     
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  13. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Gold has done well over that period on face value, even relative to real estate.... but the lack of leverage = lost opportunity.
     
  14. Lustre

    Lustre Member

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    This is interesting & thanks for posting it. Neumeyer says FM has no intention of selling any metal from their mines for the next few weeks. Last lot they sold was a few weeks prior to that video at $17 per ounce (I am guessing USD, but may be loonies).

    You can see how he reasons the argument that if we had a functioning market, the drop off in industrial demand should have been buffered by bar and coin investment, but you can’t get the metal now and hardly anyone unless a desperado, junkie or someone rapidly liquidating an estate would hand it over at the fire sale spot price given the gap between buy and sell price IRL.

    Neumeyer had the most optimistic metal forecast of everyone last year I think of $130 per ounce. It would take another big shock to supply chains to see a squeeze to that level, or some of that multi-trillion confetti (confeddi) to wend its way into the silver market.

    If it is reasonable to say the current wave of illness will peak within a few months in areas with robust infection controls, detection and contact tracing, then maybe we’ll see the inflationary effects of that “stimulus” later in 2020.

    Might back up the ute if the POS goes for another bobsled down, but the main prize will be good miners, with proven resources, good cash position, good management, low cost per ounce and a favourable country for the mining operation. When the POS doubles or more from here, all kinds of charlatans will enter the foray as they did with the dotcom boom, the last mining boom, the crypto boom etc, so it is best to think about a position when the water is clearer at the bottom.
     
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  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    GDXJ has gone up 44% from my last purchase price of $26.70. PAAS by a whopping 48%! PAAS is "Pan American Silver Corp" for those who don't know. So who says you can't make money from silver?

    Should have bought more! Had been reading too much on "stocks going to fall further" news and posts.

    Still waiting for the pullback....
     
    Last edited: Apr 14, 2020
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  16. Ag bullet

    Ag bullet Well-Known Member

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    [​IMG]

    BEEP BEEP BEEP BEEP BEEP..........
     
  17. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I loaded up over the past few months with 3 goldminers and a fintech - averaged 25% up today. :)
     
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  18. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    SELL
     
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  19. Lustre

    Lustre Member

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    If a pullback doesn’t come, you’ve lost nothing. Capital preservation is nothing to fret about.

    Given the nature of the problem, you can expect a number of further drops. The last one was like a bungee jump down. The big one is typically a bottoming out over time leading to capitulation. We are not there yet.

    And if it doesn’t come, is that a bad thing? It means all is better in the world and people can get back to business (industrial demand!).
     
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  20. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Buy:(sell:D, buy:)sell:D, buy:Dsell:D, buy:mad:sell:mad:, buy:(sell:), buy:Dsell:D,
    buy:psell:mad:
     

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