Do you plan on selling silver into this market?

[Morsecode]

I haven't sold any on ebay myself, as there is always a decent market here. I was only saying I had been watching auctions ending with unusually high premiums. Although, we just went from 24.50 to 29.00 in a few days so that premium disappeared rather quickly.

What do you mean "chargebacks"? Buyers have a year to return stuff? News to me. But I haven't sold anything but collectible glass on ebay, and I haven't done that for over a year.

[smackvay]

I haven't sold any on ebay myself, as there is always a decent market here. I was only saying I had been watching auctions ending with unusually high premiums. Although, we just went from 24.50 to 29.00 in a few days so that premium disappeared rather quickly.

What do you mean "chargebacks"? Buyers have a year to return stuff? News to me. But I haven't sold anything but collectible glass on ebay, and I haven't done that for over a year.

i believe paypal protection is up to 12 months and then credit cards go even longer to file a chargeback or honestly for ANY reason can send anything back.

Mike

[shinnosuke]

Silver is down over 13% right now. Do you plan on buying silver in this market?

[JobIII]

Silver is down over 13% right now. Do you plan on buying silver in this market?

That would a a firm no from me

[neilgin1]

Silver is down over 13% right now. Do you plan on buying silver in this market?

sure....why not?...i'm being cheeky here...i think this sell off is healthy,.....for stackers......when we say "silver is down 13%", the ref is comex....5 1000 toz loaves, margin is 17k(i'm spitballing here).......its a speculative financial instrument, same as the etf's.......i cant afford either to speculate, or even to trust.......these institutions, who's idea of dynamic capitalism is "hooray for me and fu.".....(btw, as i was typing this one of the ebay house's just emailed me that they have only 11 2020 RCML rolls at 11 times sep on the board.....i've noticed that in this up move, the basis has remained between $7-10 over the board (i buy only but RCML naked, and i will buy ASES's only if they are slabbed, i wont buy bars, or rounds...)

if any of all lost dough, i'm sorry, but i gotta say.......this is the healthiest thing that could of happened today...believe me, some of the dec longs on the board?.......those are earmarked for delivery. blessings, n

[OneBiteAtATime]

Things go a little wild and a bunch of old names start showing up on the board.

[Market Harmony]

I don't see how silver doesn't challenge $50 in the near term. That will be the point where we have some big decisions to make. What will the premiums be like? Is the economy beginning to stabilize? Is sentiment overly positive? Are there other assets that appear to be undervalued?

These questions are really important to answer when the time comes... it's prescient how you have identified the very things that have the biggest delta. It's pretty hard to nail it all down and find zen clarity when the moment comes to sell or buy. If possible, try to set aside fun stuff for last, and put together a plan for the bullion. Determine in advance your sell levels and stick to them. Everyone with this strategy will need to have a good control over greed. Whipsawing prices don't have emotions.

[IdahoCopper]

Someone's local craigslist ad for ASEs:

1 oz 99 percent pure, mint un-circulated, selling units of 10 and 20.
I have
30 - 2015s
40 - 2016s
30 - 2017s
30 - 2018s
30 - 2019s
$52 each or make offer on the whole lot, no low ballers please

[Changechecker]

Craigslist sellers- currently $40.00, $45.00, $50.00 per ounce.

[NDFarmer]

Someone's local craigslist ad for ASEs:

1 oz 99 percent pure, mint un-circulated, selling units of 10 and 20.
I have
30 - 2015s
40 - 2016s
30 - 2017s
30 - 2018s
30 - 2019s
$52 each or make offer on the whole lot, no low ballers please

He says no low ballers. Maybe if you offer him $50 each for the whole lot he will take it!!!

[68Camaro]

I don't see how silver doesn't challenge $50 in the near term. That will be the point where we have some big decisions to make. What will the premiums be like? Is the economy beginning to stabilize? Is sentiment overly positive? Are there other assets that appear to be undervalued?

These questions are really important to answer when the time comes... it's prescient how you have identified the very things that have the biggest delta. It's pretty hard to nail it all down and find zen clarity when the moment comes to sell or buy. If possible, try to set aside fun stuff for last, and put together a plan for the bullion. Determine in advance your sell levels and stick to them. Everyone with this strategy will need to have a good control over greed. Whipsawing prices don't have emotions.

I really don't understand the questions because they aren't related to what should be the fundamental reason one possesses precious metals, which is to have a personal and private store of wealth. One should only sell (or trade) when one has another need to be fulfilled and can't be completed by other reasonable means. I'm thinking of capital investments especially, or fundamentals of shelter, food and water, medical, and/or safety.

I suppose many of us have a few tertiary pieces of metal which to our own eyes (beauty is in the eye of the beholder) are less desirable than others, and we may choose to divest those things and perhaps replace them with items that are more desirable. But that isn't a life or death decision.

But the worst trade one can make is to consider exchanging PMs for fiat currency, especially a currency which is almost certainly going to hyperinflate within the next 10 years (if not well before).

If you do sell it must be with a plan for what other equally (or more) important item you would replace it with, and that has to consider exactly the definition of true money as well as fiat, and an appreciation for the shaky position of the financial markets.

[Cu Penny Hoarder]

I don't see how silver doesn't challenge $50 in the near term. That will be the point where we have some big decisions to make. What will the premiums be like? Is the economy beginning to stabilize? Is sentiment overly positive? Are there other assets that appear to be undervalued?

These questions are really important to answer when the time comes... it's prescient how you have identified the very things that have the biggest delta. It's pretty hard to nail it all down and find zen clarity when the moment comes to sell or buy. If possible, try to set aside fun stuff for last, and put together a plan for the bullion. Determine in advance your sell levels and stick to them. Everyone with this strategy will need to have a good control over greed. Whipsawing prices don't have emotions.

I really don't understand the questions because they aren't related to what should be the fundamental reason one possesses precious metals, which is to have a personal and private store of wealth. One should only sell (or trade) when one has another need to be fulfilled and can't be completed by other reasonable means. I'm thinking of capital investments especially, or fundamentals of shelter, food and water, medical, and/or safety.

I suppose many of us have a few tertiary pieces of metal which to our own eyes (beauty is in the eye of the beholder) are less desirable than others, and we may choose to divest those things and perhaps replace them with items that are more desirable. But that isn't a life or death decision.

But the worst trade one can make is to consider exchanging PMs for fiat currency, especially a currency which is almost certainly going to hyperinflate within the next 10 years (if not well before).

If you do sell it must be with a plan for what other equally (or more) important item you would replace it with, and that has to consider exactly the definition of true money as well as fiat, and an appreciation for the shaky position of the financial markets.

All great points.

When I read through this forum, I get the impression that 40-50% of the people here are FOMO's and/or in PMs for a short term trades. Sometimes ppl can get lucky with the timing, but it's rare.

Physical PMs are a hedge against inflation, a store of wealth and insurance against a banking/fiat system collapse.

[JadeDragon]

Don’t care what the spot is - I’m not selling silver. It is part of my base assets along with some real estate and Blue Chip stocks.

[Market Harmony]

I'm moving my hedging price higher to 22.50. At that point, I will be shorting futures to be aligned with physical... If it goes lower than that I am fully hedged.

Otherwise, balls to to the wall! We're going higher boys!

Hedging is important fellas and ladies. Learn why and how to do it.

[Thogey]

I'm moving my hedging price higher to 22.50. At that point, I will be shorting futures to be aligned with physical... If it goes lower than that I am fully hedged.

Otherwise, balls to to the wall! We're going higher boys!

Hedging is important fellas and ladies. Learn why and how to do it.

So how did it work out?

[Market Harmony]

I'm moving my hedging price higher to 22.50. At that point, I will be shorting futures to be aligned with physical... If it goes lower than that I am fully hedged.

Otherwise, balls to to the wall! We're going higher boys!

Hedging is important fellas and ladies. Learn why and how to do it.

So how did it work out?

Not bad at all. Taking a long position today $21.35 on the futures. Let's see what happens.

[Tourney64]

No selling of silver, only buying.

[Cu Penny Hoarder]

IMO, another great buying opp is coming. Save your dry powder and get ready.

The only thing that sucks about it is that the premiums are so high right now. They probably won't be coming back to pre-March 2020 levels anytime soon... perhaps never.

[pennypicker]

IMO, another great buying opp is coming. Save your dry powder and get ready.

The only thing that sucks about it is that the premiums are so high right now. They probably won't be coming back to pre-March 2020 levels anytime soon... perhaps never.

I agree. We're close now to reaching the very important support level of $20 and if we breach that level then silver will probably trend downward to the $15-17 range that we were stuck in for such a long time prior to Covid. My guess is the .50 point rate increase coming in June will be the event that pushes silver though the $20 support level...but then again it could happen next week

[Cu Penny Hoarder]

IMO, another great buying opp is coming. Save your dry powder and get ready.

The only thing that sucks about it is that the premiums are so high right now. They probably won't be coming back to pre-March 2020 levels anytime soon... perhaps never.

I agree. We're close now to reaching the very important support level of $20 and if we breach that level then silver will probably trend downward to the $15-17 range that we were stuck in for such a long time prior to Covid. My guess is the .50 point rate increase coming in June will be the event that pushes silver though the $20 support level...but then again it could happen next week

Exactly. This is what I'm patiently waiting for. The interest rates go up, the stock market gets nailed and PM paper prices fall right with it. When the margin calls start the market and PM prices will fall even more. When this happens I suspect much of the WSS crowd will capitulate and throw in the towel... this will be the contrary indicator to load up. I read WSS comments daily to gauge sentiment.

[stas3000]

IMO, another great buying opp is coming. Save your dry powder and get ready.

The only thing that sucks about it is that the premiums are so high right now. They probably won't be coming back to pre-March 2020 levels anytime soon... perhaps never.

I agree. We're close now to reaching the very important support level of $20 and if we breach that level then silver will probably trend downward to the $15-17 range that we were stuck in for such a long time prior to Covid. My guess is the .50 point rate increase coming in June will be the event that pushes silver though the $20 support level...but then again it could happen next week

Exactly. This is what I'm patiently waiting for. The interest rates go up, the stock market gets nailed and PM paper prices fall right with it. When the margin calls start the market and PM prices will fall even more. When this happens I suspect much of the WSS crowd will capitulate and throw in the towel... this will be the contrary indicator to load up. I read WSS comments daily to gauge sentiment.

Oh yeah, the WSS reddit crowd. I haven't visited in quite a while. What's the vibe there now? Have they given up yet? Or what is general sentiment at the moment from your perspective?

[Cu Penny Hoarder]

Oh yeah, the WSS reddit crowd. I haven't visited in quite a while. What's the vibe there now? Have they given up yet? Or what is general sentiment at the moment from your perspective?

Definitely not as enthusiastic these days. Still too much optimism, which leads me to believe silver is going into the teens. Remember the hype when Ag was $30 and they were going to "squeeze" it to the moon?... most ppl there at that time believed Ag was a "no lose" proposition. They shot themselves in the foot with that nonsense. Still quite a few there who are saying buy silver at any price/premium, which is foolish. I always want to pay the least amount of dollars for my PMs as possible.

[stas3000]

Oh yeah, the WSS reddit crowd. I haven't visited in quite a while. What's the vibe there now? Have they given up yet? Or what is general sentiment at the moment from your perspective?

Definitely not as enthusiastic these days. Still too much optimism, which leads me to believe silver is going into the teens. Remember the hype when Ag was $30 and they were going to "squeeze" it to the moon?... most ppl there at that time believed Ag was a "no lose" proposition. They shot themselves in the foot with that nonsense. Still quite a few there who are saying buy silver at any price/premium, which is foolish. I always want to pay the least amount of dollars for my PMs as possible.

I remember that it seemed like right as they "opened up" spot prices of silver started gradually dropping. I think they were in high 20's at the most in last 18 months. (But at the same time premiums have been getting higher and higher or so it seems.) Anyway, thanks for posting about WSS here. Curious what those reddit guys are going to come up next. Hopefully nothing as the louder they get the lower spot prices go.

[68Camaro]

If we're going to have a meaningful discussion on the topic we need to refer to actual street price of generic physical - not kitco spot or other related metric.

It matters not if "spot" goes to $15, if at the same time premiums go to $7 such that the net delivered cost is $22. As with some of the past events, there could again be another very small window (usually a Sunday night into early hours of a Monday) where prices crash over a weekend and the middlemen fail to react quickly enough to adjust premiums or offerings.

(Of course they may have learned their lessons from 2020 and have a plan in place to adjust prices and / or inventory in near real time.)

[Cu Penny Hoarder]

If we're going to have a meaningful discussion on the topic we need to refer to actual street price of generic physical - not kitco spot or other related metric.

It matters not if "spot" goes to $15, if at the same time premiums go to $7 such that the net delivered cost is $22. As with some of the past events, there could again be another very small window (usually a Sunday night into early hours of a Monday) where prices crash over a weekend and the middlemen fail to react quickly enough to adjust premiums or offerings.

(Of course they may have learned their lessons from 2020 and have a plan in place to adjust prices and / or inventory in near real time.)

IMO it does matter. If spot prices fall and the premium remains the same, you're still going to pay less per oz than if you buy at current prices. Stackers who capitulate and/or run out of $ to buy more should help keep premiums from increasing.

Of course there's always a possibility that crypto cultists will have an epiphany and exchange their cryptos for PMs... if they still have any cash left that is.