Are retail silver supplies drying up?
- Thread starter fishduck
- Start date
Our unemployment system crashed today in colorado. 1600 percent increase in claims.
The dealers dont lose money on metals. They have their premiums added in.
The dealers dont lose money on metals. They have their premiums added in.
forgedinfire
Member
Hey Tokyo, I wasn't sure if you were a paper trader or a physical stacker, would you be buying physical silver in this environment if the shops had it despite a higher premium?
The price with premiums is about the same as always here in the US at least. Its maybe gone up a couple of bucks but nothing to slow down buying by any means. Still as undervalued as ever.
I would not hesitate to buy right now, the cheapest best deals I could find like always.
Maybe secondary generic rounds or bars might be cheaper?
Just have to shop around and get what you can find at this point.
There is still some silver around but it might cost a few extra bucks from the usual, nothing crazy.
My guess is you wont find anything even close to a $12 spot price tho.
If it averages less than $20 I'd guess its a safe bet and I'd shoot for $15 or $16 if it's out there.
I personally dont pass up $20 silver eagles or Libertads, prospector rounds and some of those. I like them so they are worth it to me and it's not a crazy price to me.
I would not hesitate to buy right now, the cheapest best deals I could find like always.
Maybe secondary generic rounds or bars might be cheaper?
Just have to shop around and get what you can find at this point.
There is still some silver around but it might cost a few extra bucks from the usual, nothing crazy.
My guess is you wont find anything even close to a $12 spot price tho.
If it averages less than $20 I'd guess its a safe bet and I'd shoot for $15 or $16 if it's out there.
I personally dont pass up $20 silver eagles or Libertads, prospector rounds and some of those. I like them so they are worth it to me and it's not a crazy price to me.
We are already seeing a shortage with this little wrinkle in the economy and we havent seen anything yet.
Just wait till the strongest and best economy ever in history starts getting weak! What will happen!?
Just wait till the strongest and best economy ever in history starts getting weak! What will happen!?
Moving forward, I'll probably be buying paper silver. No way I'll be paying 25% premium for kilobars.
Now the attention in the West is all on the virus and the plunging stock market. Once the lock down stabilises the situation in about 1-2 weeks, the stock market will stabilise, and people will start to pay attention on precious metals and silver shortage.
minimilled
Active Member
You know things are bad when even koalas are on preorder - the ugly duckling of silver coins
with many people not going to travel to work, same will be for coins makers, transports etc; we can have up to 6 months on waiting for the metals
the big mints are not supplying...nothing would be on the receiving end
its not due to shortage of metals, but working people
Just make sure you understand the mechanics behind the fund providing paper silver - i.e. how much physical do they hold to back it up, what are their physical delivery clauses? Could they be squeezed if enough people request delivery etc. It's not so likely but it's still a consideration these funds are exposed to. Also if gov confiscates or makes metals trading temporarily illegal whilst a new monetary system is developed then you will also lose possession. Understand the risks
Oh, the other sneaky one is that the fund can usually opt to pay out the value of the metal in cash instead of honoring physical delivery. This is especially smart during hyperinflation because they can pay you cash that's worthless the next day and keep their metals. Worse if they tell you physical delivery is 3 weeks away then pay out cash at the last minute.
Anyway, treat it like a stock trade and don't pretend like you 'own metals' with one of these funds.
Goldstackers is having big problems now.
I was buying small amounts of pool allocated regularly. My metal account statement was showing crazy incorrect numbers, I emailed them and have no response still. Can’t get them on the phone either.
Today the metal account statements are gone altogether, and the prices for gold and silver are locked on yesterday’s prices (incorrect now) but you can still buy and place orders.
Check out their website, it’s saying gold is $2660 when now the price is $2565.
I’m really hoping they have a handle on this.
I was buying small amounts of pool allocated regularly. My metal account statement was showing crazy incorrect numbers, I emailed them and have no response still. Can’t get them on the phone either.
Today the metal account statements are gone altogether, and the prices for gold and silver are locked on yesterday’s prices (incorrect now) but you can still buy and place orders.
Check out their website, it’s saying gold is $2660 when now the price is $2565.
I’m really hoping they have a handle on this.
