Silver purge as of late

[JobIII]

Hi RC,

So has anyone else noticed a slight up-tick in the amount of junk and bullion silver going up for sale in the last week or so? I get that silver has climbed up from $14/oz to ~$20/oz since the beginning of the year. Which is awesome for anyone that bought in at the low. But it seems almost like this is a coordinated silver dump by a lot of people.

Just wondering if this is more than a coincidence that a lot of people are deciding now is the time to unload $100-$1000+ face.

~JobIII

[Country]

I noticed it too. It's almost like folks are flipping rather than going for the long term hold. Perhaps, when SILVER reaches $30 next year, these folks will be buying instead of selling to replace metal sold at these low levels. Indeed, this is fine and good. It tells me that few believe the BULL is back in town. Those of us who do, will take the metal from these weak sellers at these low prices. More seem to believe that it's going back down again, so the thinking is "I better unload". When everyone is UBER-BULLISH, now that's the time to sell.

[beauanderos]

Note: Hardcore stackers don't sell for fiat "profit," but may do so if necessitated by financial dictates.

Most of those who are choosing now to liquidate some inventory are merely "dealers," who have always bought to later sell
when the profit margin makes it worthwhile. The people who sell have access as local buyers (even without a walk-in storefront)
to replenish what they are selling at prices below their sales prices.

And a move by one causes others to consider that, perhaps, that seller knows something they don't. There is only so much money
held, by the small pool of buyers, to sell into. If the sellers want to sell they need to jump on that bandwagon, or be left behind. I
feel the large quantities offered tactic may simply be a "cut to the chase strategy," to avoid the time and effort of scores of smaller sales.

Simply a case of the market in action as spot rises... rather than market inaction as spot drops. of course, what do I know?

[johnbrickner]

I've noticed, and believe I've not seen this much "junk" silver offered all at one time at such large lots. Normally, when I see this much action all at the same time the contrarian in me gets alerted and I ask my self "why are so many dealer types selling all at the same time?" and will stay away. But, I took advantage of participating at a very small level at a price I just couldn't pass up from a reliable seller I've used many times.

Why buy now if the contrarian in me has been alerted? It has been a long time since I found "junk" silver in small amounts, at spot, with no premium . . . a very long time. Last time I think it was a bunch of proof state quarters (not a small amount). I'll bet Ray took advantage of also.

[beauanderos]

I've noticed, and believe I've not seen this much "junk" silver offered all at one time at such large lots. Normally, when I see this much action all at the same time the contrarian in me gets alerted and I ask my self "why are so many dealer types selling all at the same time?" and will stay away. But, I took advantage of participating at a very small level at a price I just couldn't pass up from a reliable seller I've used many times.

Why buy now if the contrarian in me has been alerted? It has been a long time since I found "junk" silver in small amounts, at spot, with no premium . . . a very long time. Last time I think it was a bunch of proof state quarters (not a small amount). I'll bet Ray took advantage of also.

Ahhh... so it was you! I remember that... 13.8X face. But seller was drop-shipping from a telemarketer -- and I dithered about buying because he couldn't give me an idea of what years they were -- until it was too late. :lol

[Rodebaugh]

It's coming out of the wood pile for sure.

I have sold 500+ face in Mercs and Purchased 1000+ face within the past 4 days.

[pennypicker]

Perhaps, when SILVER reaches $30 next year

When Country speaks...I listen!

[beauanderos]

It's coming out of the wood pile for sure.

I have sold 500+ face in Mercs and Purchased 1000+ face within the past 4 days.

That's the other thing... more sellers into the market at higher prices and dealers don't buy inventory to hold it, they need to flip
it to keep cash handy for further "deals" that may come along.

It's a buyer's market right now, if you're patient. Competing dealers will discount their ask if there's no bid.