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Pillar of the Community
United States
593 Posts |
We should change the name of this thread to "Silver BUILDS A HOUSE AND MOVES IN below $30!"
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Valued Member
United States
456 Posts |
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Where can I find sellers of lower grade SLQs at near melt? My local coin shop has a number of them for close to melt in their junk silver pile. How many are you looking for? |
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Pillar of the Community
United States
1590 Posts |
Honest question; is the current market "custom made" for day traders?
What I mean is; do they "buy the dip" at 8am and "sell the peak" at 1pm? Every day, day in and day out. I realize that it is not really 8am and 1 pm. However I trust my meaning is clear?
It does seem to me that we have a very repetitious pattern. And someone must be making money.
Also I have read a number of commentaries where silver is really expected to go bust this year. Apparently China is sitting on a huge surplus and industrial demand is way down, as are bullion products.
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Pillar of the Community
United States
593 Posts |
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My local coin shop has a number of them for close to melt in their junk silver pile. How many are you looking for? I was hoping to find a seller here. I just need two of them for my Type Set album. Don't want total junk with no date, but not looking for sharp details. Need a 1916-17 Type I and any Type II. I know the Type I won't be close to melt. The SLQ I have now has an unreadable date so I'd like to at least do better than that!  My goal is to complete everything except capped bust and seated liberty in the 90% silver. I just need these SLQs to do that. Edited by larsdog
07/10/2012 3:35 pm
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Pillar of the Community
United States
511 Posts |
Premiums on 90 percent have risen lately. Don't assume silver will always sell close to melt, as that is a paper price. Would you rather have a piece of paper that says you own 1000 ounces or 100 ounces of the real thing in hand?
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Pillar of the Community
United States
1590 Posts |
Actually the premiums have gone down in the real world. Not to say some large dealers have not raised their premiums. But look at ebay. Most common silver is selling right at melt. Lots of dimes at $2; quarters at $4.75; Halves under %10. I stopped selling bullion as it is tough to get 20 to 22 times anymore. A couple of months ago it was easy. I have heard other dealers talk about getting stuck with a lot of inventory. It would not surprise me if you saw a run up in premiums from some dealers are expecting to take a loss in the future. The thought is that whatever you can get now at whatever price you can, is a good thing. Something else about premiums that a lot of you might not understand. Most of us buy at 16 times. Right now melt is at 19.5 times. But commonly 20 times. And we sell anywhere from melt to 26 times. Most small dealers can't sell right now to the local refiners. They are not taking orders except from the big boys. It seems everyone is waiting to see where it is going |
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Pillar of the Community
United States
4008 Posts |
I've wondered the very same thing myself, JMK. Anything that can be predicted with good accuracy can be profited from in the stock market. I did this with BF Goodrich stock many years ago. It had a pattern of rising to $40 and then dropping to $20. I was able to buy and sell several hundred shares 4 separate times.  I keep reading Ranting Andy at Miles Franklin and his comments about how predictable the cartel's paper silver slams are, yet he never mentions capitalizing on them. If it is as predictable as he says it is, why not make a ton of money off of it and channel it all into physical PMs?  |
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Pillar of the Community
United States
5832 Posts |
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I did this with BF Goodrich stock many years ago. It had a pattern of rising to $40 and then dropping to $20. I was able to buy and sell several hundred shares 4 separate times. That's a 100% profit on that stock alone! My Man. That's what I call beating the market analyst. |
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Pillar of the Community
United States
593 Posts |
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Would you rather have a piece of paper that says you own 1000 ounces or 100 ounces of the real thing in hand? Is this a trick question? Anyone that would prefer one tenth of a metal over a contract for that metal should be hoarding lead, not PMs. Certainly I would rather have 100 ounces of silver than a contract for 100 ounces of silver or maybe even 110 ounces. But a 10 to 1 ratio? I'm not planning on the EOTWAWKI despite the Mayans. |
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Pillar of the Community
United States
1590 Posts |
Maybe we should chip in and start Barry as a day trader. Then we have him tell us when he is buying and when he is selling and then we do the opposite! Most of us should be bazillionairs inside of a week!
Joe
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Pillar of the Community
United States
4008 Posts |
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That's a 100% profit on that stock alone! My Man. That's what I call beating the market analyst. Yes, it was quite profitable... and fun too. I would tell my co-workers when I was buying and selling and they would laugh at me, saying that it was going to fall or rise further. It didn't. I made beaucoup bucks and they did not. I never told them what to do because I was not an investment adviser. I only told them what *I* was doing. I retired at age 55 and most of them are still working. Yes, it IS sweet! Quote:
I'm not planning on the EOTWAWKI despite the Mayans. As far as the EOTWAWKI goes, I strongly suspect that our plans will neither promote nor inhibit it one bit. The only salient point is whether or not we are as ready for it as we can be when it hits us. I'm not and I know it but I'm working on it. I also know that some prep is better than no prep... a LOT better!  Quote:
Maybe we should chip in and start Barry as a day trader. Then we have him tell us when he is buying and when he is selling and then we do the opposite! Most of us should be bazillionairs inside of a week! Excellent idea, JMK. Knowing Barry, though, I am sure that he will demand a cut of this action... for services rendered!  |
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Pillar of the Community
United States
5855 Posts |
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Knowing Barry, though, I am sure that he will demand a cut of this action... for services rendered! Well, fair is fair, after all... |
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Pillar of the Community
United States
593 Posts |
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As far as the EOTWAWKI goes, I strongly suspect that our plans will neither promote nor inhibit it one bit. The only salient point is whether or not we are as ready for it as we can be when it hits us. I'm not and I know it but I'm working on it. I also know that some prep is better than no prep... a LOT better! True, which is why I'm stacking MREs and lead. Stacking PMs for the EOTWAWKI is just painting a target on your back. Stacking PMs for the next Great Depression makes sense. Stacking MREs and lead works in that situation, too. Stacking PMs for a global consumer boom makes the most sense. |
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Pillar of the Community
United States
1590 Posts |
rof ...if I had taken my own advice today I would have made a killing.......8 and 1 it is! |
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Pillar of the Community
United States
1590 Posts |
ok...its 1pm...time to sell! |
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Replies: 743 / Views: 51,941 |
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Posted 07/09/2012 9:24 pm
