Realcent.org

Looking about at Provident, you can see the discount for sellers and the premium for buyers depreciating. Today Provident is offering to buy 90% dimes and quarters at $1.01 less than spot; halves at .76 less than spot. Provident is selling generic 90% at spot. Demand for 90% SILVER is not there and I believe that is why these prices are going down smartly against spot. I think many are disposing their hoards - but what could they be buying? I guess having been burned too many times, we are seeing full capitulation by many stackers. Yet, spot prices of GOLD and to some extent SILVER do not appear weak. Historically, SILVER 90% has been purchased at spot and sold at less than spot. Perhaps, we are gravitating to the historical way of evaluating lots of SILVER. Any thoughts?

Country wrote:Looking about at Provident, you can see the discount for sellers and the premium for buyers depreciating. Today Provident is offering to buy 90% dimes and quarters at $1.01 less than spot; halves at .76 less than spot. Provident is selling generic 90% at spot. Demand for 90% SILVER is not there and I believe that is why these prices are going down smartly against spot. I think many are disposing their hoards - but what could they be buying? I guess having been burned too many times, we are seeing full capitulation by many stackers. Yet, spot prices of GOLD and to some extent SILVER do not appear weak. Historically, SILVER 90% has been purchased at spot and sold at less than spot. Perhaps, we are gravitating to the historical way of evaluating lots of SILVER. Any thoughts?

ALL silver prices are declining. Apmex is buying 100oz bars for $1.25 UNDER spot.

I believe that money is going into crypto and also into the stock market.

I agree, its going into crypto. I cashed out 80% of the hoard and got cryptos. I started buying 64 days ago. At about day 50, I was at peak gains, 80% over the amount invested.

As that percentage declined on a deep dip, I finally got FUD (Fear, Uncertainty, Doubt) enough to withdraw 85% of what I put in. That calmed my nerves a lot. I was in violation of crypto rule #1; don't invest more than you can afford to lose. Jan 17th was a blood bath. Whales manipulated the markets to better their futures contracts positions that were closing that day. Near the bottom of that day's decline, I put back in $2k. That top-off is up 37% today, just 3 days later.

I'm presently at 97% of what I spent on cryptos, after the big withdrawal, plus the top-off, to readjust my positions. That big fall on the 17th is to blame, some profits are yet to be regained. However, measured against the remaining original risk investment plus the at-risk top-off deposit, I'm up 200%, the accounts are 3x what is at risk. That is because I've removed no profits for the last 64 days.

Its a roller coaster and the wheels can fall off at any minute.

That's called gambling not investing, but in your case (with some smarts applied) you won. Well done!

I've been doing more than half of my buying and selling of PMs at my LCS. This has been happening for about the last 15 years. I could argue the pros and cons of a business arrangement like this, but I tell the owner what I'm willing to pay up front (or my expectations of what I want for a coin being sold). No agreement? No problem and we laugh about it while always practicing mutual respect..

This shop owner knows more about coins than I ever will. When he told me about probable silver dumping in the past 7-10 days, I initially laughed and asked whether he'd sustained a head injury. Now, after further research, I believe he's correct.

There are always people coming into the shop selling 3 rolls of silver dimes that were inherited from Uncle Harry. Now, the known silver hoarders are coming to the shop to unload their long-term accumulations for fast cash. They want cash. No, correct that. Their need for cash overrides their basic food, clothing and shelter desires. ASEs as well as Canada MLs are being purchased (in huge quantities) at this shop at $1.50 to $2.00 below spot. US 90% coming back to the shop is heavily discounted, too.

As larger quantities of coin silver and bullion are being purchased over the counter at the LCS, the owner is scrambling to unload these bloated amounts at a reasonable profit. Not an easy task now (even on a localized basis) as the number of sellers has progressed well beyond the number of prospective buyers.

With the fast silver sales, so goes the rational thinking that usually governs the sale of commodities. The LCS owner related that the profile of a NEW SELLER is akin to the junkie who needs their fix. Sort of a "No time for discussion here...just give me the money" thing.

Where's all this cash going? Of course you know. Bit Coin and other crypto-currencies are the benefactors of these massive amounts of cash. History will provide us with the answers to the many questions we now muse about. Personally, I've grown accustomed to the feel of PMs in my hands. There's just something comforting about holding a few silver half dollars or a $5 gold piece. BTW, I have no trouble sleeping at night with my investments in PMs.

What a crazy world.

Good street intel. Makes sense. Great time (again) to buy physical!

68Camaro wrote:Good street intel. Makes sense. Great time (again) to buy physical!

+1

My LCS who for the longest time was paying 50 cents under spot for 1 oz generic silver rounds has just recently lowered his buy price to 80 cents below spot while his sell price remains unchanged--says there's more sellers than buyers these days.

Where isn’t the money going? Everything is doing better than PMs - crypto, stocks, real estate. Buy PMs while they cheap and no one wants any, things will change

I smell capitulation, desperation. This could be something more than just a surplus. Since silver has planed out people have lost interest in an investment going nowhere and are willing to cut their losses. A certain percentage is just dumping inheritance.

Allot of coin/bar was bought for investment purposes over the last 5 years, that's allot of silver floating around not doing anything, its got to move sometime, I've found YPS stuff at my LCS.

It may be a type of capitulation for small time stackers, if there are several types of capitulation (as there might be), but keep in mind that silver has been cheaper and not all that long ago. The buying bottom (so far) of the past 10 years was late 2015 through mid 2017. Even with premium differences I'm still paying quite a bit more now net-net than I did during that period of what appears to have been the true bottom.

I'm thankful that the shiny is affordable for me a bit longer while some people chase other things. Monetary cycles aren't for day traders. Right now is still the acquire silver phase. That won't change until I either retire or the GSR drops below 25. Until then I will keep working to improve my position, and the more people look away from gold and silver, the better deals I can get.

Some do sell at LCS in smaller quantities as they let go of hoards acquired through family, often they get an attachment to their silver and only want to sell when they absolutely have to. I to wish I would have bought more, during that bottom I was able to hook up with 100 oz. at 15.50, and could have bought 500 oz. at that price, coulda shoulda woulda..

I don't get the greatest discount at my LCS, but it's the only place I can find old rare .999 bars, keeps me interested, but the over spot premium plus 5.5% sales tax does not help the hobby.

everything wrote:Some do sell at LCS in smaller quantities as they let go of hoards acquired through family, often they get an attachment to their silver and only want to sell when they absolutely have to. I to wish I would have bought more, during that bottom I was able to hook up with 100 oz. at 15.50, and could have bought 500 oz. at that price, coulda shoulda woulda..

I don't get the greatest discount at my LCS, but it's the only place I can find old rare .999 bars, keeps me interested, but the over spot premium plus 5.5% sales tax does not help the hobby.

There are places where they don't charge sales tax or only charge it on supplies, so you might check other states in your area in case a coin show comes up. Also, some dealers might not charge tax to someone who is from out of their state. So if a dealer travels from Chicago to Minneapolis for a show, you might not get charged tax if you attend the show but don't live in IL (the dealer's home state). I'm just making up the states because they are near you- I don't know the laws for those states. And then again there are states where there is no sales tax, such as Oregon. I know that from traveling there in the past. Assuming it is still that way.

Correct No Sales Tax in Oregon but plenty of others .
Not a cheep State to live in.

No sales tax on PMs in Texas.

Fantastic buying opportunity! You guys should be taking advantage of it, not complaining about low prices. This is a GIFT!

Cryptos are still massive bubbles. Gotta be crazy buying these things.