# Silver... It's your turn!



## Trihonda

So apparently the geeks who ran up AMC and Gamestop to mess with the hedge fundies... Well, they're turning their attention to Silver... I've read in one article where one economist was claiming that the bullion dealers have been artificially manipulating the price to keep it low, and that if adjusted for inflation, Silver should be near $1000 instead of $25 (I don't know how much I believe that), but if this theory is even close, it sounds like Silver might be on the way up? You can't get any right now... It's all been purchased!

I'm killing myself, because RIGHT before all this noise about Silver, I was literally about to press "purchase" on 100oz of silver coin from JM Bullion for $28.50/oz (that included taxes, everything). I passed on that because my local dealer had 60oz of coin in stock and was charging me $28 flat per oz... I passed on that earlier in the day because I felt it was too high. Well, now my local guy is out, JM Bullion is out, and I'd happily pay $29/oz for 100 oz in physical coins... Damn!

https://www.bloomberg.com/news/arti...-grind-to-halt-as-reddit-horde-moves-to-coins

It should be noted, that if Silver does go up to $1000, I'll be paying off my house with the silver I already have on hand...


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## Piratesailor

I read about this on zero hedge this morning. Monday should be interesting.


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## Denton

I hope they smoke’em. Everyone knows SLV can’t cover the shares sold. May the “little guys” shed more light on the corrupt bastards.


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## ND_ponyexpress_

I figured that all out on Friday with almost a 10% spike in silver price and gold was down. I assumed the game stop guys were buying it. And JM Buillion is down for maintenance now..

I was waiting for it to creep down to 23-24 before I bothered buying any..


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## ND_ponyexpress_

nevermind.. it's back up....


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## Trihonda

ND_ponyexpress_ said:


> I figured that all out on Friday with almost a 10% spike in silver price and gold was down. I assumed the game stop guys were buying it. And JM Buillion is down for maintenance now..
> 
> I was waiting for it to creep down to 23-24 before I bothered buying any..


So do you think the price will tank or soar? What's the prediction? I was under the impression the price was going to soar... I've had a few friends speculate it'll get to $50. I have no clue tho.


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## ND_ponyexpress_

Trihonda said:


> So do you think the price will tank or soar? What's the prediction? I was under the impression the price was going to soar... I've had a few friends speculate it'll get to $50. I have no clue tho.


I have a feeling it will go up a bit... but no reason to expect it to climb to $50.. if the silver were going to $50 the gold should be skyrocketing too. it isn't.

I suspect there will be silver buying opportunities around memorial day, but who knows? I did sell some on the top of the last spike (silver @ 28.90 and gold was @ 2069) so you can see the silver -gold gap is bit out of whack, which to me either means gold should rise or silver should drop..


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## Kauboy

I heard that the silver buzz was fake, trying to get the people buying GME to swap to something else so the shorties could get out sooner rather than later.
If you actually read the reddit posts about GME, those people are both crazy and committed. They claim that the shorts on GME are at 120-140% right now. Meaning all they have to do is sit on the stock for as long as they darn well please, and the hedge funders loose tens of billions more, and when they all decide it's time to sell, they all get way more than they paid because the shorties will have to buy up just about everything to give back the stocks they borrowed.

You've got folks on that reddit section openly stating that they are willing to hold on to their stocks, potentially passing up life-changing money, because they want others who maybe less fortunate and can really make a difference in their lives by selling, to go ahead and sell.
They are basically using this as a safety net for "the little guy", when the truth is they're all little guys acting as a humongous guy. They are now, effectively, the largest hedge fund the world has ever seen, and democratically controlled pitbulls about it.
The big wigs are reeling, and I love watching it.


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## StratMaster

ND_ponyexpress_ said:


> I have a feeling it will go up a bit... but no reason to expect it to climb to $50.. if the silver were going to $50 the gold should be skyrocketing too. it isn't.
> 
> I suspect there will be silver buying opportunities around memorial day, but who knows? I did sell some on the top of the last spike (silver @ 28.90 and gold was @ 2069) so you can see the silver -gold gap is bit out of whack, which to me either means gold should rise or silver should drop..


One way or another, silver was bound to increase, and close the current gap somewhat between it and gold. In such a circumstance, gold could remain static while silver rises. They both rise and fall together in reaction to markets and inflation. But a shortage specifically of silver could leave it climbing alone. We only pull about 850,000 ounces out of the ground globally each year... and most all of it is earmarked for industrial usage ahead of time. The valuation ration of silver to gold... sometimes 80:1... is historically absurd. 15:1 (on average, allowing for fluctuations) had been more typical. The industries consuming silver (un-recoverably) photovoltaics, electronics, etc... continue to increase. Yet the value per ounce has remained strangely held down despite the demand vs. supply. Much manipulation of silver in the market: for every real ounce of silver, there are as much as 100 ounces represented in paper instruments. I read comments from mine owners who had considered NOT selling their silver until the price came up. I have no predictions or bullish prophecy about this current buzz, but I'm hanging onto mine. The current valuation of silver cannot last considering its consumption in industrial use and increasing rarity.


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## Denton

Silver future is up 10% at that a time. Golly. Wonder why.


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## Hemi45

Denton said:


> I hope they smoke'em. Everyone knows SLV can't cover the shares sold. May the "little guys" shed more light on the corrupt bastards.


I have mixed feelings about this. On one hand, go Average Joe - good for you! On the other, if this stuff continues to spread and destabilize the markets this year could make 2020 look like the "good ole days" ... I am concerned about an economic collapse our country cannot handle in the wake of 2020.


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## Trihonda

Hemi45 said:


> I am concerned about an economic collapse our country cannot handle in the wake of 2020.


Aaaand this is why we are all here


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## Robie

I think the Biden administration would cherish it.
The plan is to get as many relying on the government teat as they can.
A collapse would do it...for a while.


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## Nick

As far as silver being poised for a large increase I don't see it happening, at least not anytime soon. There are tons of large silver mines that aren't even extracting silver right now and have been closed for decades. I would imagine if the demand was high they would start mining it again. In the event of the destabilization of the US dollar then I would imagine silver would have a very large increase, but not as much as gold. Of course with the recent stock market games being played who knows what to expect. Any stock can be artificially lowered for the sake of making large profits. It's nothing new. The only difference is now regular people have so much information available to them in real time and they're starting to watch these things very closely.


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## ND_ponyexpress_

I am just waiting for it to hit $30/oz so I can sell some of my 10 oz bars back to JmBullion.... and then buy em back when they get back around $23... and if market crashes, I still have plenty.


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## ND_ponyexpress_

and it just did!


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## ND_ponyexpress_

just sold some 10oz bars @ $30.19.. got $302.40 each for them since they paying over spot!


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## Nick

ND_ponyexpress_ said:


> I am just waiting for it to hit $30/oz so I can sell some of my 10 oz bars back to JmBullion.... and then buy em back when they get back around $23... and if market crashes, I still have plenty.


My thinking as well. Not so much to sell any, but let it get down to about $23 - $24 and buy more.


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## Piratesailor

It seems to be up about 11% today. Not as large and increase as I would have thought given all the “news”.


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## ND_ponyexpress_

Piratesailor said:


> It seems to be up about 11% today. Not as large and increase as I would have thought given all the "news".


it was around $25.50 6 days ago.....


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## Trihonda

ND_ponyexpress_ said:


> just sold some 10oz bars @ $30.19.. got $302.40 each for them since they paying over spot!


I've been wondering, how is selling to JM Bullion? I haven't purchased from them, but I do have an account...

How is the process, and how is it to ship back to them? Do you get some weird investment or tax documents if selling maybe 80oz worth?

I have a ton of coin... I was waiting for $34, or maybe 40 he he


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## ND_ponyexpress_

Trihonda said:


> I've been wondering, how is selling to JM Bullion? I haven't purchased from them, but I do have an account...
> 
> How is the process, and how is it to ship back to them? Do you get some weird investment or tax documents if selling maybe 80oz worth?
> 
> I have a ton of coin... I was waiting for $34, or maybe 40 he he


once you are in their system as a seller, you can do it all online. you browse through the products they are buying and click on yours that matches. their buyback price is listed and you confirm and they give you a purchase invoice. you can then either print their shipping label or do your own. ship it to them and they put the money into your linked account. no forms/paperwork... nothing.. simple and easy! may take several transactions to become their "approved" customer. I do lots of little transactions and use the profits to simply purchase more metals...


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## stevekozak

Hemi45 said:


> I have mixed feelings about this. On one hand, go Average Joe - good for you! On the other, if this stuff continues to spread and destabilize the markets this year could make 2020 look like the "good ole days" ... I am concerned about an economic collapse our country cannot handle in the wake of 2020.


"Just rest your head. You worry too much. It's gonna be alright. When times get tough, you can fall back on us. Don't give up, please don't give up." Or so Peter Gabriel says.....

"I'm gonna walk out of here, I can't take anymore. Gonna stand on that bridge, keep my hands down below. And whatever may come, and whatever may go...that river flows, that river is flowing...."


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## Smitty901

Denton said:


> Silver future is up 10% at that a time. Golly. Wonder why.


 Up 10% buy buy all you can. Nope not going near any of this. More to than it may seem.
Anyone remember the Hunt brothers and silver always someone up to something.


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## stowlin

This caught my attention: full disclosure I own an abundance of PSLV and some in hand silver. I have always kept my portfolio at between 2-4% in this ETF has a hedge and was rewarded by doing that this year. I added to it in March and sold some in August. I still have 2.5% of my port in PSLV. 

The Reddit phenom is popular as it hurts big institutions and is by the little guy. Phenom in that they are doing the same thing some institutions have done to us all over the years. Now they are the hero’s for doing exactly what the villains have done in the past. I never thought nor think that would work with silver. Silver ETFs were on the radar of Reddit gangs due to hi volume of short positions (prove that I dare you) and the known fact most ETFs have about one ounce of silver for every 100 ounces it represents. This is well known and seems to bother some people. These people don’t realize why that is a good thing. In the blogosphere in the past people suggested you should be able to trade your SLV or PSLV for hard in hand coins which is silly stupid. Imagine the burden of doing that for a share of stock which transactions $10 million to $25 million daily! Stupid to imagine they’d hold the bullion for that, and as Joey would say: “ come on man”

Reddit folks would and I believe have been wise in avoiding driving the silver up unless they are doing so to short it themselves knowing the 1/100 ratio is real and it just bothers people that don’t know better. 

Someone posted silver ought to be a $1,000 an ounce and it will be one day when a $1,000 buys you 8 gallons of gasoline and a hundred rounds of 45 acp. Until then our currency is still worth more.


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## Piratesailor

And it was $17 a few months ago.

I was talking about today’s market vs. Friday.


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## Pir8fan

My silver is all pre-1964 silver dollars, halves and quarters. I'll hang on to it.


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## ND_ponyexpress_

Piratesailor said:


> And it was $17 a few months ago.
> 
> I was talking about today's market vs. Friday.


I just meant they started dumping into silver last thursday-friday, I noticed it the 28th when it was up a ton and gold was down.. it's gone up almost 20% in the last 6 days while gold remained largely stationary.


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## ND_ponyexpress_

eventually some of these people buying physical silver will look to liquidate it.... and that's when I plan to be a buyer, at least near the bottom.


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## Trihonda

Well, I went into my local coin shop. They called me to tell me a 1oz krugerrand just came in, and they held onto it for me. I snagged it for $2000 otd. Which is not a bad premium, after tax.

They know I'm stacking silver, so he rolls out a tube of silv buffaloes, which are selling for $33-$34/oz on JM Bullion... I negotiate a deal at $30/oz for the 20 coins... I've been watching a lot of analysis videos, and there's a consensus that there not much supply left, and that people are just holding right now. But demand is still high in the industrial sector.. eventually there needs to be enough silv in the market to back all the silver notes in play, and without anyone selling in bulk (just the opposite), the prices need to go up.. the gist is that before people will release their silver holdings, prices need to go up a lot... I've heard fantastical estimates of $500+ per Oz, but I don't think any of us believe that will happen... but they seem to think that $100/oz is very plausible... I mean, BTC has climbed 5x in less than a year... who knows.

Here's my haul...


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## ND_ponyexpress_

I am still waiting for the premiums to come back to normal... $5/oz premium is not going to get my money (really their money since I sold it to them @ 30.19/oz)

let that price drop to 23-25 and regular 2-3 dollar premiums and I will slip right back in!


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## Trihonda

I just snagged 60oz at a $4.50 premium. I had extra cash sitting around and wanted to convert it to PMs. 

What are people’s thoughts? Seems like prices have been steady in the 25/26 realm… that’s with all the inflation talk….

I really like the coin on the right.. might be the last tube of silver I will part with..


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## A Watchman

Trihonda said:


> I just snagged 60oz at a $4.50 premium. I had extra cash sitting around and wanted to convert it to PMs.
> 
> What are people’s thoughts? Seems like prices have been steady in the 25/26 realm… that’s with all the inflation talk….
> 
> I really like the coin on the right.. might be the last tube of silver I will part with..
> 
> View attachment 113832



I have the "Don't tread on me" coin also. Good choice!


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## Trihonda

Ha, this thread came back to my attention. As silver sits at $23, but premiums are still higher than they were a few years ago. And silver still feels manipulated. The cost of inflation and rising prices of everything, yet silver is low? If I were to sell off now, I’d certainly lose a bit of $ based on my purchase prices, but I dont intend to sell, and getting rich was never my intention. PMs are a wealth placeholder. But I really hate the prices they’re at now. I’d rather see $15/oz (so I could buy more) or $40/oz (so I could sell some off). Lol.


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## CapitalKane49p

I buy at this level. Sure there is a hefty premium on 1 oz rounds at any level but that wallpaper in our wallets is buying less an less these days.

Godspeed


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## SAR-1L

I don't have much silver, I can't in my wildest dreams imagine $1000 per ounce from this stunt. If I saw anything above $100 I would sell half of what I have and go buy more ammo. and sell the rest at $250 and put than into other investments.


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