Silver Dips Below $30

As silver drops, it might be hard to buy from local shops. They wouldn't be able to sell for a loss. What sites would you guys recommend to buy 90% and 999?

homerecher,

After witnessing the last crash when silver dropped from $21 to sub-$10 in 2008, let me reassure you that you will have no problem finding sellers. But the premium will be a lot higher until things stabilize. Most were asking for spot + $4-5 for a while there. Same with ebay auctions. But after three months or so of sluggish silver movements, prices, and perceptions, coalesced into some incredible opportunities. I'd love for it to happen again but that would require another stock market collapse, which I'd prefer to avoid.

I did mention a false recovery Harrison, followed up with another steep drop to close the week out around 28 per oz., an it is settin at $28.65 last glance and 6 plus hours to to go yet....

For those dollar over spot J&M bars should be lookin good for some of ya, but of course I can't get more for perhaps a week or so....

Rarely does the silver drops line up with my limited funding to allow a key buy when it drops, but maybe I can still add more on the backside push back across thirty, if that does indeed take place....

Who knows, with analysts making comparisons every day to 2008, we may see a bigger window open down to 20 or the teens, something I have never seen as of yet....

I saw an Engelhard 100 oz. end earlier at $3150, right on the money as rare do you get much over spot per oz. on that bulk size buy....

But, I also just saw a decent basic ASE in case an border settin at $38 bucks with minutes left, so they are still paying a high percentage over spot on ebay as they always do. Especially on the smaller stuff....

Yes Barry 1550 an 28 bucks is probaby a real window for many waitin on that, an who knows we may see 1500, even 1400 gold still yet. Which would mean at this current G to S ratio, silver would be WAY undervalued at that point, say down to like 20 per oz.. Not that silver is not undervalued anyway.....

55 to 1 ratio, geeeez, maybe a good time to trade some gold for silver being that undervalued....

I dunno, Angel. I'm just wondering if this is the extent of their losses or are they MUCH bigger than this. JPM has a HUGE derivative portfolio, so could be on the hook for hundreds of billions, if not trillions of dollars. Hard to say at this point but I would not be inclined to take JPM's word for it.

As to PM prices... man, the situation is incredibly complicated by all of the factors now in play. Iran & Syria, European debt, China and India buying or not, US dollar gaining a bit of strength, market volatility, mine production, etc, etc, etc. My guess is that gold will bottom around $1550-1560 and silver around $27-27.50 but there is no data whatever to support that... just the "gut". Got lots of dry powder, though, so can strike while the iron is hot!

Your average taxpayer really can't win. The constitution was a darn good instrument of freedom but when people say that money is the root of all evil, I say greed is. If we had a laissez faire system in place like we once had, people would be completely taken advantage of and snake oil salesmen would infest every market. So unchecked capitalism is simply pure evil, IMO. But then after the public outcry, government comes in and regulates the heck out of everything and greed still ultimately seeps into the equation. Lose, lose. I know I don't have the answer, that's for sure.

get 50 posts and talk to me.