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I Sold 2500 Silver Maples Yesterday

 
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Author Previous TopicReplies: 11 / Views: 1,095Next Topic  
Pillar of the Community

Canada
796 Posts
 Posted 03/22/2020  10:44 am Show Profile   Bookmark this topic Add JGG to your friends list Get a Link to this Message
After having almost no sales for almost 8 months, I just had my entire inventory of silver maples sell out for $24.50/oz between Friday night and this morning (Sunday). I am in complete disbelief that they sold for double the spot price and they are all gone. I am literally dumbfounded.
Pillar of the Community
United States
2070 Posts
 Posted 03/22/2020  11:08 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
There does seem to be a huge disconnect between spot silver prices and silver bullion.
Pillar of the Community
Canada
3348 Posts
 Posted 03/22/2020  11:56 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
That is in CAD ......not USD correct?
Pillar of the Community
United States
6298 Posts
 Posted 03/22/2020  12:42 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Panic causes people to do strange things.
- When I value " being right" more than what IS right, I am then right...a fool.
- How much squash could a Sasquatch squash if a Sasquatch would squash squash?
- Prosp long and liver.
Pillar of the Community
United States
721 Posts
 Posted 03/22/2020  12:51 pm  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply
Too bad you didn't have 10,000 more.
Pillar of the Community
United States
1026 Posts
 Posted 03/22/2020  1:00 pm  Show Profile   Bookmark this reply Add CitationSquirrel to your friends list Get a Link to this Reply
That was a quick liquidation. Are seeing anyone selling at all or is it all buying?
Pillar of the Community
Canada
1050 Posts
 Posted 03/22/2020  3:34 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply

Quote:
That is in CAD ......not USD correct?


I'd like to know the answer to that as well. If it was truly "twice spot" ($24.50 US) things are definitely getting real.
Pillar of the Community
Canada
3348 Posts
 Posted 03/22/2020  3:43 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Waiting .... the answer is quite important CANADIAN or US Dollars ?
And we are still waiting ... a quick check of Ebay shows no similar results.
Edited by Pacificoin
03/22/2020 8:43 pm
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United States
13609 Posts
 Posted 03/23/2020  08:32 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Probably Chinese Yuan .
Proud Member of The Black Sheep Squadron !
Pillar of the Community
Canada
1050 Posts
 Posted 03/26/2020  2:38 pm  Show Profile   Bookmark this reply Add 1cent to your friends list Get a Link to this Reply
Total disconnect. 1 oz gold coins selling for $2500-2600 CAD ($200-300 over spot), silver coins selling for roughly $30...almost 50% over spot.
Pillar of the Community
United Kingdom
2495 Posts
 Posted 03/29/2020  12:02 pm  Show Profile   Bookmark this reply Add DavidUK to your friends list Get a Link to this Reply
I am sure many expect a rapid devaluation of currency in the near future because it is being printed so fast, for those that think their fiat currency is going to lose all its purchasing power it would make sense to get a sizable chunk of their wealth into silver/gold.

I wouldn't be paying double, but then it is quite hard to source PMs in quantity at the moment as everywhere is running dry.
Valued Member
United States
299 Posts
 Posted 04/03/2020  2:27 pm  Show Profile   Check beem's eBay Listings Bookmark this reply Add beem to your friends list Get a Link to this Reply
I sold some gov't issued bullion myself at a huge premium. Bought big bars at much smaller premium. This is a good time to make this switch, if you can find lower premium bars.
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