Silver! Who Is On This Train?

[NoDrama]

Oh, ok. I thought you actually shorted silver through an exchange. If so, you are one rich MOFO. You do not actually own any physical silver correct? Its all just paper?

Are you going long calls at $35 or do you feel its going to sell off even more?

 

[budsmoker87]

i TOLD you all that silver was going to have a huge drawback.... i sold nearly all of mine at the peak...still holding some. i'm buying more regardless....but if it dips below $30, i'm buying a shit ton

 

[Mr Neutron]

Well, I certainly don't understand the silver prices here. Last week when silver was near $50/oz, the bank was selling it for $41.74/oz. Today, it's around $35=36 and I just came back from the bank and their selling for $65.22 (at the same exchange rate 11.5p to a dollar). The dollar exchange has improved to 11.7 today so the adjusted price would be $64.10/oz.
I just don't understand how they price their silver, it seems backwards to me.

 

[budsmoker87]

APMEX, the largest bullion dealer in the world, continues to purchase silver canadian maples for $3 over spot price... interesting...

 

[NoDrama]

i TOLD you all that silver was going to have a huge drawback.... i sold nearly all of mine at the peak...still holding some. i'm buying more regardless....but if it dips below $30, i'm buying a shit ton

I once did the same thing you just did, sold off and waited for the dip. After the price had come down the dealer didn't have any silver to sell.

 

[NoDrama]

Well, I certainly don't understand the silver prices here. Last week when silver was near $50/oz, the bank was selling it for $41.74/oz. Today, it's around $35=36 and I just came back from the bank and their selling for $65.22 (at the same exchange rate 11.5p to a dollar). The dollar exchange has improved to 11.7 today so the adjusted price would be $64.10/oz.
I just don't understand how they price their silver, it seems backwards to me.

The difference is : One is paper, the other is the real thing. Physical possession of silver is better than any other position you can be in, IMO.

 

[beardo]

wow Kitco down another four dollars today.

 

[BoomerBloomer57]

$35.00,,,,,,,,,

How low will she go????????????????

Remember,

buy the dips.

 

[NoDrama]

spent another $1200 today.

 

[guy incognito]

So where is the best place to buy silver? And whats with the deal of everything being way over spot price? $3/oz spot price on something thats only $35/oz is a pretty huge percentage. You need a 9% return just to compensate for that.

 

[NoDrama]

Which would you rather have? A 1 oz pure piece of silver or a piece of paper that says you have the rights to a 1 oz piece of silver?

If you go the paper route and something bad happens to the market you will get another piece of paper telling you that because of certain conditions you will not be getting your silver , but instead they have some more paper for you. If people stop accepting paper as payment you will be screwed.

I bought four 10 ounce bars, each bar was $377. Spot price was $35.00. You ALWAYS pay more for the real thing than a paper promise.

 

[Mr Neutron]

Do junk silver coins carry a lower premium over the spot price? I'm going back to Houston soon and would like to pick up a couple of rolls of half dollars.

 

[NoDrama]

Do junk silver coins carry a lower premium over the spot price? I'm going back to Houston soon and would like to pick up a couple of rolls of half dollars.

Junk silver has the lowest premium of all. And its some of the best stuff, it will never need to be assayed, which might save you 3% of your sale profits in the future.

 

[Angry Pollock]

Aw yes, a new batch of mini Hunt brothers, you know silver was around 54.00 once b4, and you ONLY had to wait 30 yrs to recoup your losses.bravo

 

[smokermore]

i saw on the news like a week ago that silver dropped over 8%... made me think of this thread and glad im NOT on the silver train lol. but idk shit about it so it may not even be a big deal

 

[NoDrama]

Aw yes, a new batch of mini Hunt brothers, you know silver was around 54.00 once b4, and you ONLY had to wait 30 yrs to recoup your losses.bravo

Highest closing price for silver was $49.45, You won't recoup losses until silver hits $140, inflation sucks. How many people bought all their silver at the peak? 1% maybe. Most people bought their silver at a far lower price than $49. Inflation adjusted I bought my silver at the lowest price in 2000 years.

To kill the Hunt brothers position they only had to raise margin requirements one time. They raised margin requirements 5 times in the last 2 weeks and silver is still above its 200 day average. Runaway Freight trains are hard to stop.

My silver train is still up 700% for me. Terrible investment, shoulda stuck to me 401k and its huge 2% per year gains (Sarc).

 

[Angry Pollock]

Highest closing price for silver was $49.45, You won't recoup losses until silver hits $140, inflation sucks. How many people bought all their silver at the peak? 1% maybe. Most people bought their silver at a far lower price than $49. Inflation adjusted I bought my silver at the lowest price in 2000 years.

To kill the Hunt brothers position they only had to raise margin requirements one time. They raised margin requirements 5 times in the last 2 weeks and silver is still above its 200 day average. Runaway Freight trains are hard to stop.

My silver train is still up 700% for me. Terrible investment, shoulda stuck to me 401k and its huge 2% per year gains (Sarc).

it's funny, but i aquired silver, not as an investment but because my brother in law owed me money back around 1973, guess i'll have to dig it out, haven't really thought much about it since then though. i know, or at least think he gave me 3 brown lunch bags 1/2 full of coins and some bars but know idea how much. maybe i will save it until after the apocalypse

 

[Mellowman2112]

I am fully diversified I have both gold and silver.

 

[beardo]

The silver manipulation scheme is falling apart, it's rising again today.

 

[beardo]

The global demand for bullion should rise because people have seen the gains silver is making. few other things have offered the same returns over the last few years.