Anyone Buying Bullion Now?

Does this mean that Spot is not an accurate value for the physical silver or is this just a temporary spike in premiums? As the premium gap widens, I am starting to wonder.

Seems like premiums have been high since COVID and have not really retreated. Demand right now is high for physical silver, so the premiums continue up.

Also, if you are selling a lot and buying very little, that would indicate that premiums will need to increase more since silver has settled in over $25.

I havent been buying any bullion recently. The spike in silver prices have made me focus more on morgans / slq's and finishing my type set.

Note: I define a small stacker of physical metals as one holding 5,000 ounces or less, probably considerably less, when referenced below. Ones who typically spend a few hundred dollars at a pop, not $50K or more. Your milage may vary

Any prediction I make will most likely be wrong but I feel silver is finding a new floor of above $20. I think any dips below will be temporary and values above likely. I think a $20 to $25 range likely and movement to a $25 to $30 range over time with occasional spikes

And I see premiums staying high with actual values of small physical staying well above spot Any additional bank failures will increse premiums more.

Would I be surprised to see silver touch $40 this year? No but not sustainably

Would I be surprised to silver briefly dip into the high teens? Again no but I think it would move back above $20 shortly after

I frequent a few survival/prepper type message boards and activity/membership is increasing. As more people are becomming aware of the high US debt load, inflation especially in food, and bank instability, along with asking about food storage many are asking about silver and gold. The market for small amounts of physical metals is large but not so large that an influx of new small buyers won't keep premiums inflated

I do think we are moving to a two tiered system of spot for large industrial buyers of paper contracts and actual for small buyers of junk or bullion and the price differential is here to stay

Looking at this as a coin collector, I'm seeing a tremendous amount of high priced gold selling at 3-5x melt, and much higher for truly rare coins. These coins are mostly high grade, probably estates and/or liquidations of serious collectors or investors. I track a few specific dates at dealer sites and turnover of these investment-grade pieces has been very slow.

In lower grades these same coins used to sell at small premiums over melt (below 2x). The lower grade coins have largely disappeared, and when they appear are typically 2-3x melt. It is difficult to see paying 3x the current inflated bullion price for worn, scratched and polished problem coins even if they are rare.

Deals can definitely be had. In particular some coins of less well known countries can still trade at spot for silver and gold on places like ebay. You just need to absolutely be able to tell what is gold for sure and then you can get some deals. But it takes a long time to find them.

I used to "scold myself" for buying silver at $19/oz.

I follow "All Star Charts" a lot and they are leaning to silver a lot now as it appears there is a deficit between supply and demand now. They like most commodities now with copper high on their list as well. I am mainly buying small mining companies now but will purchase some physical silver soon.

There is a lot of air between the 50 and 200 MA and the price ,but it also looks like a flag pattern so either up or down lol.