We're going to see US$12 silver soon

L

leon1998

Member
Prior to last Thanksgiving, I purchased some Silver Maples for gifting purpose. I remember the spot was about $14.8 and Provident was hosting a special with only $1.99 premium per coin/oz.

Since Maple usually commands a premium of $2.79 or more, I thought I got a deal. I talked to myself, "This is equivalent of buying regular priced Maple, at a spot of $14 or less, wow".

How wrong was that? Now Silver spot is BELOW $14, and the $1.99 premium special is still around! :mad:

Since I am running out of SML, so I took advantage of the special AGAIN and got a few more. And I talked to myself, "This is equivalent of buying regular priced Maple, at a spot of $13 or less, wow".

Now you know why we are heading below $13. :P
 
Leon's calls have been mostly right since I have been watching them. Will be interesting to see what effect it might have on retail sales of silver if we get to $12 handle.

Jim
 
sammysilver said:
Leon, does it rain when you put the washing on the line?
Click to expand...

6641_leon.png
 
From 2010 to 2014, the amount of silver required to mint Canadian Silver Maple Leaf coins has exceeded Canadian silver mining production by over sixteen million ounces.
The deficit in 2014 was nearly 8.5 million ounces.

By the last week of August, stock markets worldwide crashed and over $11 trillion was wiped from markets worldwide in the 3rd quarter of 2015.

Today, by midday, the Dow was down over 500 points, and it ended up down nearly 400 points, again. This is now the fourth time since the start of the year that the Dow had been down more than 300 points.

[img=DOW JONES Industrial Average Year-To-Date]http://silvercompany.ca/image/unnamed.jpg[/img]
 
Way to go Leon !!! Most calls are usually right and that pisses off many for some reason. Good for buyers if they have the nerve to buy on continual slides. Maybe not so good for sellers when precious metals sentiment is already crap along with many other commodities.
 
I hope your are right Leon, but I have a feeling those of us buying in AUD won't see the benefits of this occurring as our exchange rate drops.
 
I actually sold off a bit at a profit or breakeven and just sitting on cash for now... To purchase equities, metals or whatever else.
 
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