It seems to me that the bullion dealer has judged that the price of silver will continue to trend down, and he needs some ready cash.
I think that you have done well to buy at the current spot price.
I think that longterm price trends look good at this time in the World economic cycle. There is not much downside left to go.
My judgement is that World commodity generally prices are nearing the bottom of a downward trend, and the window for buying at the bottom of the trend will eventually close.
Have a look at most long term prices: oil, coal, iron ore, nickel gold platinum and silver. World sharemarket prices have also nosedived in the last year,
but
most commentators are of the opinion that World economies are looking to a brighter future. Look at the unemployment rates in most leading economies.