Silver drops...

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ancona

Praying Mantis
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This artificial smash down is a Godsend for those who are still stacking. Personally, I've picked up another 100 face in junk along with three five ounce stackable bars. You 'gotta love the stackable bars!


Nothing like stacking stackables. They are nice and stable, you know, in case of an earthquake or something, they won't fall over!
 
Just stacking mint-direct ASE's along with that other (yellow) metal for now...I'll branch to the platinum group if I see the right price setup as well. Those actually have uses in my lab. In fact, all the PMs do. Total win-win.
 
And right on cue.....Maxwells silver Hammer.:judge:

These guys are so predictable.
 
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Questions for you two guys!

1) I just was offered Morgan Dollars (n = 7 pcs) at $40 each, they are apparently in very good condition (I suppose I could ask him their numismatic condition and check eBay...). Does $40 sound like a good price?

2) DCFusor, do you use the very exotic stuff like Ir, Ru, Os and so on?
 

I do not know much personally about Morgans, but there seem to be better deals to be had.

Very good quality 1921 Morgans for less than $35
http://www.apmex.com/Product/160/1921_P_D_or_S_Morgan_Dollar_VG___XF.aspx

Most Morgans seem to go for less than $40 a piece:
http://www.providentmetals.com/catalogsearch/result/?q=morgan
 
...

Thanks Benjamen! I passed along that info to the Seller and looked at eBay as well.

Silver Eagles are the only silver I have.
 
DoChenRollingBearing said:
...

Thanks Benjamen! I passed along that info to the Seller and looked at eBay as well.

Silver Eagles are the only silver I have.
Click to expand...

I'm late to the party but thats kinda pricey. My favorite coin dealer shows 1921 Morgans (common date) 730. a roll (36.50 each) at 31.00 spot. for brilliant uncirculated.
 
I don't use the exotic stuff at present. It's one of the very few things I've not been able to find at anything like the "paper price" - so I work around with other stuff.
Science speciality houses sell it - but at premiums that would make any PM dealer blush (or envious - like 10x the so called market price, or more).
 
I just looked at some silver charts. There is the barest HINT that we might see $20 silver later this year. I am not holding my breath because it seems impossible to me today.

I expect this current rundown in silver to stop around the $26 mark. If the next runup can't DECISIVELY break $32, then I strongly suspect $20 is in the cards.
 
I'm looking for the 26's to be short lived as demonstrated last July.

There is way too much physical buying to indicate otherwise.

I will relate to your charts with the commentary from another investor who said we could see 22 this year then an unbelievable run up past 49!

Guess we'll see whose got the right 8 ball!



-Q
 
http://moneymorning.com/2013/04/02/...mand-for-coins-why-are-silver-prices-falling/

"With the White-Hot Demand for Coins, Why Are Silver Prices Falling?"

"After the first two months of 2013, the U.S. Mint had sold nearly 10.9 million American Silver Eagles (ASEs) - a third of its sales total for all of 2012. And on March 18 - the Monday that followed the weekend news about the Cyprus bank-deposit-confiscation plan - the Mint reported a stunning sales total of 638,500 of the silver coins ... for just one day.

But here's the kicker. Despite this frenetic buying, spot silver prices have actually fallen since the start of the year - a conundrum that's ignited fears of a silver shortage and investor allegations of market manipulation by Wall Street."

 
These pricks are just relentless. All they are doing is coiling that spring tighter and tighter. With silver this cheap and gold getting pounded down as well, those who want metals will be backing up the truck right about now. Perhaps this is by design, so the Dark Princes can get a little more shiny before metals regain their true equilibrium. Either way, there is no possible scenario within which I could see this as organic metal sales.
 
I wonder if the plundering of COMEX inventories may have prompted emergency action by the PPT to crash prices with an eye towards stopping that bleeding (by removing the incentive to take delivery).
 
Prepare for more news from the US mint about halting sales, all LCS have orders they can't fill for 4-6weeks, premiums skyrocketing at Apmex etc.... yada yada yada

Sure.....gold/silver bubble is in...gotcha

beeeep! beeeep! beeeep! "Back it up slowly boys! There is a lot to haul!"

-Q
 
PMBUG, That's the only scenario I've seen that makes any sense out of this market at all. Dow down, metals getting pounded, going to DEFCON 3... I think I'll buy some more physical....

Val
 
my "favorite" coin dealer in Va. said 32.22 cents for SAE's a minute ago. (spot 26.19.) Liberty is 29.55. grrr.
 
Jay said:
my "favorite" coin dealer in Va. said 32.22 cents for SAE's a minute ago. (spot 26.19.) Liberty is 29.55. grrr.
Click to expand...

I can not find any place that is selling ASE for less than $30, even in bulk. Everyone wave goodbye as physical silver and paper silver prices go their seperate ways.
:wave:
 
benjamen said:
I can not find any place that is selling ASE for less than $30, even in bulk. Everyone wave goodbye as physical silver and paper silver prices go their seperate ways.
:wave:
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ditto, but CSP shows SAEs at 29.44:
https://comparesilverprices.com/

just paid 32. but at this point I don't care. Most of my silver was acquired at face. the secretary I just talked to said "wait a moment, the market is going crazy".

edited to add they had plenty in stock.
 
This crazy volatile market is a sign (to me) that prices are at or near their near term bottom. As stated before, I am of the opinion that the lows will be around $26 silver and this wild action confirms that in my eyes.

Next week I look for silver to spike up and try to exceed $32. If it DECISIVELY goes above $32, you have seen the end of cheap silver prices. If not, buckle up, you may see $20 silver later this year. Either way, your seat belt better be in good working order - you will need it.
 
A buck forty five? What the fuck?!?! This is why I could never be a trader, because I would leave behind a trail of dead fucking bodies. This whole paper racket is such a bunch of horse shit.
 
Shit...26 just failed...

My charts are showing minor support in the 25.50 area then 23.50...after that 22 and below back to 17.

Scotia is calling for 24.25, a 61.8% retracement of the 2008-2011 rally. Oh boy!

NO I don't think it will unravel that far but damn what a day!!

-Q
 
That was an operation plain and simple. Dumping 25000 contracts into a market that is about to close for the weekend is illegal. It should be brought to the attention of the CFTC. I know it's probably not going anywhere, but we need to try.
 
The LCS is selling junk silver at 19x today and throwing in tubes for free. Now I am out of dry powder.

Down a $1.81 today? Someone must have gotten caught with their pants down. Now it is entirely possible that we will see $20. Maybe not next week, but very possible this October (the only month I normally have dry powder).
 
mmerlinn said:
I just looked at some silver charts. There is the barest HINT that we might see $20 silver later this year. I am not holding my breath because it seems impossible to me today..
Click to expand...

Barest HINT? Well, how about an all out rout today being down over 12% (over $3 down) in one day. And that coming on top of the $1.81 drop last Friday, for a $4.95 drop in TWO days.

No more hints of $20 silver. Now $20 silver is dang near in the bag. Once we get through the minimal $23 support, $20 is guaranteed. When? Probably in a week, or two, or three, or maybe a bit longer.

However, I suspect that the PTB will try to run it past $26 first, but I see no way in hell that they can ram it through. Wish I was in a position where I could go all in shorting at $26.

 
mmerlin, do I understand you correctly, you expect silver to rebound to 26, before going all bananas again, and falling to 20, maybe lower, yes?
 
bushi said:
mmerlin, do I understand you correctly, you expect silver to rebound to 26, before going all bananas again, and falling to 20, maybe lower, yes?
Click to expand...

The short answer is YES.

$23 is too low too fast, so I expect a rebound before it continues down.

Below $20? Extremely unlikely in the foreseeable future except maybe for a spike or two into the high teens.
 

my silver just arrived, 7 days turn-around, pretty fast.
 
High teens? Bring it on bitchez!!

That's when I draw down both revolvers and take all the cash the bank will give me to buy phyz. /then, when the shit gets real with prices, and G/S go parabolic, i'll flip what I need to, pay off the revolvers and sit on the vig. fuck 'em and feed 'em fish heads. I swear by God I will make ice cream out of this horse-shit.
 
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