Huge divide between Spot and Physical

The high prices are not just for things advertised on here....

I haven't listed anything for a while... But I am receiving unsolicited offers that are way over the advertised dealers prices for things.

Why, because they don't have anything to sell, and quote June/July delivery times.

I have 60+ kg coming in soon, and I imagine most of that will be taken before I actually advertise it.

(oh wait.... perhaps I just did ... my bad! ;) )
 
Aurora et luna said:
By the way guys, I don't enjoy buying back 100 x 1oz boxes from people for hundreds of dollars below what they paid originally. I would much prefer that they hold onto their silver and resell it to me in the future at a much higher price.
I think everyone who has stacked for a few years expected a pull-back but even I am shocked by the severity of this one. (The Parrot was right all along about this dip)
If you have been stacking silver for years, hedge your bets with some gold.
Click to expand...

About 10days ago I was kicking my self for buying too much gold from Steve and others instead of the much better performer silver, feels like slow and steady wins the race now.
 
If I didn't hold gold I'd be down another five figure sum on paper compared to last week.

I'm not surprised at the premiums that were being asked (and paid) during the downturn - no-one wants to sell at a loss, and I'm guessing quite a bit of silver was sold at a loss on here since the price peaked at Easter, with (no offence intended) weak hands being shaken out. For those who bought on the way down, they don't call it "catching a falling knife" for nothing.

This is a free market - I've only ever intervened a couple of times with PMs to users with "hey I think you're taking the piss asking that price", and it tends not to be received so well :) - so I'm happy letting the market decide what's fair (who am I to dictate that a 1kg bar can't be sold for more than $40 over spot?).

It's often said on this forum - "Do Your Own Due Diligence" - that means comparing bloody prices - if you see a bar for sale on here for $1300 and you can buy it from a dealer (probably with a wait) for $1150 - is the "can have it now" premium worth $150 to you? Did you know it was $1150 elsewhere?

I'm sure once silver starts creeping up again premiums will come down, as fewer sellers are selling expensive silver trying to recoup purchase prices, and once fresh inventory hits the shelves from Perth Mint and other suppliers.

I feel more for those newer members who jumped in both feet first and loaded up with silver at $45+ because they were swept up by the hype of the uberbulls.
 
Quote"I feel more for those newer members who jumped in both feet first and loaded up with silver at $45+ because they were swept up by the hype of the uberbulls"
.....................................................

Yep,they should be ashamed ,Just Greed driven fantasies.
 
Peter said:
Quote"I feel more for those newer members who jumped in both feet first and loaded up with silver at $45+ because they were swept up by the hype of the uberbulls"
.....................................................

Yep,they should be ashamed.
Click to expand...



It's either an expensive or a cheap lesson based on how much fiat they pony'd up?
 
Peter said:
Quote"I feel more for those newer members who jumped in both feet first and loaded up with silver at $45+ because they were swept up by the hype of the uberbulls"
.....................................................

Yep,they should be ashamed ,Just Greed driven fantasies.
Click to expand...
If you're holding long term, it's just a blip on the radar.
 
Nugget said:
But sorry to guys that are Silver heavy but at the end of the day central Banks stack GOLD. It's Gold spot that is quoted every day on the news.
Click to expand...

+1

Gold is the end game, not for all of us of course, but certainly for me.
 
RetardedMonkey said:
Peter said:
Quote"I feel more for those newer members who jumped in both feet first and loaded up with silver at $45+ because they were swept up by the hype of the uberbulls"
.....................................................

Yep,they should be ashamed ,Just Greed driven fantasies.
Click to expand...
If you're holding long term, it's just a blip on the radar.
Click to expand...

How does long term make silver safer? After the 1980 crash silver done nothing for 20 odd years.

Long term set and forget is a dangerous strategy in my opinion.


C
 
Time to snap the f--k outta the illusion.
I've had up and down emotions regarding this 2 month trip since I jumped into silver with both feet 1st.
I'm between 400 and 500oz now in those 2 months. However, I may be down 2 or 3 bucks per oz tops, heck maybe even a dollar per. I have, however come to a real sense of tranquility in the last few days because no matter what they say the cost of paper silver is, nothing else has changed.

Would you rather pay a hundred bucks for a gram of plastic that says 'the govt owes you 100 bucks' -or-
would you rather pay 35, 45, 55 bucks for 32 grams of an element accepted as money on a million different planets that says 'the govt owes you 1 buck'??????

I'm going with option 2 and feeling good about it.
 
By the way guys some of the mindless posts I've got vilifying me in this thread are pathetic and uninformed. I never asked for G.P. to intervene in anyone's trading. Where did I say that? Straw man arguments.

Its like with house prices, if every month Glenn Stevens, Wayne Swane, Mike Smith, Gail Kelly, Cameron Clyne, Ralph Norris, etc all kept saying that Australia is in the midst of an unprecedented housing bubble you can sure as hell bet that would have some downward impact on sentiment and house prices.

Just like on this forum if the smart money keeps putting up examples e.g. "recently 1 kilo ABC bars traded on the forum for $1200+ and I just walked into a dealer today and took home a 1 Kilo Koala for $1150. Kolas and Kooks are supposed to sell at premiums to bars. Man the trading forum here is getting overpriced and useless like Ebay. I'm going to keep buying from dealers." If all the smart money on the forum keeps talking down the prices on the forum by showing how ridiculous they are, perhaps it will put downward pressure on prices.

Now you've read the read responses on this thread from some people who walked into dealers and bought in stock items for much less than they recently traded on the forum. All I'm asking for is the smart money on the forum to talk down prices before the trading threads become mostly overpriced and useless and full of dumb money like Ebay.
 
hem9 said:
Or they are just lazy to look anywhere else. When everybody was jumping over 1250 bars. I just bought 2x 1kg Perth mint coins in my local dealer for 1146. Shortage or not, if I can get better deals in the dealers than a forum something out of whack.
Click to expand...

This is a case in point of the overpricing on the trading threads. Hem9 were the two 1 kilo coins you bought actually in stock (i.e. did you leave with them in hand?) or did you have to wait for them to come in.
 
Bargain Hunter said:
By the way guys some of the mindless posts I've got vilifying me in this thread are pathetic and uninformed. I never asked for G.P. to intervene in anyone's trading. Where did I say that? Straw man arguments.

Its like with house prices, if every month Glenn Stevens, Wayne Swane, Mike Smith, Gail Kelly, Cameron Clyne, Ralph Norris, etc all kept saying that Australia is in the midst of an unprecedented housing bubble you can sure as hell bet that would have some downward impact on sentiment and house prices.

Just like on this forum if the smart money keeps putting up examples e.g. "recently 1 kilo ABC bars traded on the forum for $1200+ and I just walked into a dealer today and took home a 1 Kilo Koala for $1150. Kolas and Kooks are supposed to sell at premiums to bars. Man the trading forum here is getting overpriced and useless like Ebay. I'm going to keep buying from dealers." If all the smart money on the forum keeps talking down the prices on the forum by showing how ridiculous they are, perhaps it will put downward pressure on prices.

Now you've read the read responses on this thread from some people who walked into dealers and bought in stock items for much less than they recently traded on the forum. All I'm asking for is the smart money on the forum to talk down prices before the trading threads become mostly overpriced and useless and full of dumb money like Ebay.
Click to expand...
your forgetting the smart money wont buy overpriced items .Its a free market if people can get those prices & others will pay then good on them
 
I still believe that talking down prices should not be encouraged.

If the prices aren't good for you, don't buy, don't post in there.

If you can get it cheaper from a dealer, do it.

Don't go pissing off sellers by saying BUT BUT THEY'RE CHEAPER!!! (with 6 weeks wait)

If you wish to negotiate (or low ball) do it in a private message.

DO YOUR OWN RESEARCH works best when performing trades on the forums.

http://forums.silverstackers.com/topic-9163-syd-1kg-2010-tiger.html
http://forums.silverstackers.com/message-122502.html#p122502
 
Bargain Hunter said:
I just walked into a dealer today and took home a 1 Kilo Koala for $1150
Click to expand...
BH from my experience over the last few weeks with supply through the perth mint shop, ABC and other large vendors, 1kg coins are not in short supply, in fact, these are about the only silver product that the vendors appear to be able to hand over the counter there and then and allow you to leave with. The supply issue appears to be restricted mostly to bars, and most predomenantly 1kg bars. I cant tell the precise reason for this, whether it is a planned effort to affect physical pricing or that they are diverting these products to foreign or pooled investors, though i do recall (hopefully correctly) a thread posted here a while ago (and commented on by Bron) that at least with Perth Mint, production was being moved to 1kg coins from other forms of bullion while they upgrade their facilities, my best guess would be that this is not a sinister plot to drive prices up or affect the market in any way though more to optimize profits by focusing on highest premium, most in demand items (they are a business at the end of the day).

Combine this with comments on forums and blogs/vendor websites etc, I would say that there are supply chain issues across the board (speak to any dealer and they can confirm), stock is not as readily available for retail, whether due to shipping/mining/manufacturing delays or internal allocation, they are simply not providing this stock to the general public or wholesalers.

I also believe that, most stackers on this forum have done the DD, spent the time rethinking their position over the last week or so in light of the movements and the vast majority have come to the conclusion (at least for the moment) that the core fundamentals havent changed and they are generally not ready to sell down their core position.

To me, all of this adds up to a physical sellers market. If you want a bargain, find the weak hands or uninformed and make an offer. I feel that unless the fundamentals change or supply loosens we will not see a large dip in premiums here or anywhere else.

This all said, i agree with the comments made by GP earlier, (buyers and sellers alike) should be wary, and do your own DD, if you can buy the same product elsewhere for cheaper and take delivery immediately, do so, if you feel that you are happy to pay now and wait for supply, then do so, if you want to pay a premium now to take delivery now, do so. each to their own and let the market dictate pricing.

Disclaimer: mostly my opinion with a little bit of heresay thrown in for good measure... :D
 
Bargain Hunter said:
By the way guys some of the mindless posts I've got vilifying me in this thread are pathetic and uninformed. I never asked for G.P. to intervene in anyone's trading. Where did I say that? Straw man arguments.

Its like with house prices, if every month Glenn Stevens, Wayne Swane, Mike Smith, Gail Kelly, Cameron Clyne, Ralph Norris, etc all kept saying that Australia is in the midst of an unprecedented housing bubble you can sure as hell bet that would have some downward impact on sentiment and house prices.

Just like on this forum if the smart money keeps putting up examples e.g. "recently 1 kilo ABC bars traded on the forum for $1200+ and I just walked into a dealer today and took home a 1 Kilo Koala for $1150. Kolas and Kooks are supposed to sell at premiums to bars. Man the trading forum here is getting overpriced and useless like Ebay. I'm going to keep buying from dealers." If all the smart money on the forum keeps talking down the prices on the forum by showing how ridiculous they are, perhaps it will put downward pressure on prices.

Now you've read the read responses on this thread from some people who walked into dealers and bought in stock items for much less than they recently traded on the forum. All I'm asking for is the smart money on the forum to talk down prices before the trading threads become mostly overpriced and useless and full of dumb money like Ebay.
Click to expand...


Couldnt agree with you more !

How about over the next week, you list 50% of your silver at "normal, reliablue, fair) prices of SPOT or SPOT + 2% or SPOT + 4%.

Please, help the market out.

you can do it.
 
Rennovator, I agree the smart money isn't going to buy overpriced items. My point is that we want the trading forums to be a place where smart money can make deals, rather than a haven for the clueless like Ebay.

Fishball I never suggested to name names or comment in people's trading threads. I'm just saying in a generalized way in threads like this one the smart money can try to talk down prices. I agree with you 100% people should do their own due diligence. All I'm trying to do is ensure that more people do their due diligence so we have a more informed market.

Thucydides, yeah right! I'm not going to sell my silver at anywhere near these prices. If and when silver skyrockets in the future and becomes substantially overvalued I will put my silver up for sale, but I'm not planning on selling any silver anytime soon at anywhere near these prices.
 
Bargain Hunter said:
Silverbaron I'm not asking G.P. to intervene. I am merely asking him to use his respected position as forum moderator to try and talk down prices. I'm not asking him to close trading threads, or even post comments in trading threads, or intervene in any way. The free market is free and I have no problem with it. I'm just asking for voices of reason to be heard.
Click to expand...

Keep in mind that purchasing PMs via the forum is a totally confidential affair ... which is NOT TRUE when you're purchasing from a dealer.
Many here appreciate that and are willing to pay a bit extra tin for the privilege.
 
a reasonabl price BH is one where you would also be willing to buy and sell the item at that price if you want spot silver then you should also be willing to sell at spot if youre willing to buy silver at +10 % then so you should be willing to sell at that price thats if you want reasonable prices. So you say whats reasonable and also say then that youre willing to buy and sell at that price
 
You must log in or register to reply here.
Back
Top