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I've been watching online bullion dealer inventory disappearing since yesterday.

I always use APMEX has the sentiment indicator. They had very little available at around 7pm. Then they raised the premiums (90% bags were $4.00 over spot) and added more inventory. I saw fifty $100FV junk bags were available before I went to bed at 11pm. Now this morning nothing is available.

The online bullion dealers have pulled all their inventory in anticipation of higher prices tomorrow.

Tomorrow could be historically epic.

Bought a few 2021 ASEs at 5 PM on Friday at Provident for $33.55. Price is now quoted at $35.05 and they are out of stock. I think there is a $1+ move for SILVER starting Sunday night. Dealers seem to be withholding stock from the public in anticipation of a large move higher in SILVER.

The only 90% available at Provident are $500 bags of mixed halves for $11225. Everything else is marked SOLD OUT. Definitely, they are withholding inventory here.

Country wrote:Bought a few 2021 ASEs at 5 PM on Friday at Provident for $33.55. Price is now quoted at $35.05 and they are out of stock. I think there is a $1+ move for SILVER starting Sunday night. Dealers seem to be withholding stock from the public in anticipation of a large move higher in SILVER.

It's a combo of buying and withholding inventory.

Late yesterday afternoon I kept refreshing Ampex and watching the inventory. It was disappearing pretty fast. Then they doubled the premiums, products were still selling, although not quite as fast. I refreshed again around 1am and all of the sudden nothing was available. They definitely pulled the inventory. I assume many other online bullion dealers did the same.

Silver price will gap up significantly when futures open tonight at 6pm.

Buckle up, tomorrow is going to be wild.

https://www.zerohedge.com/markets/reddi ... eze-silver

An army of reddit-raiders is descending upon quaint, staid Silver Township.

Glad I got my 2 rounds last week!!

This will be a great opportunity for prepared people. Those underprepared will be jealous, have FOMO, turn to hate, try to fight it, blow up accounts, and generally try to bring down anyone who was wise enough to prepare for it.

This is no joke. People will pile into this and I don't think the majors are going to stand in the way... in fact, should the major banks decide to join, the miners decide to hedge less, and the small investor not sell into the move, then DEAR GOD EVERYONE OUR SILVER DREAM WILL BE REALIZED!!!!!! And even better... realized prematurely!

Don't get cute. Get prepared. Put your orders in your mind of what you will buy/sell and timeframe and exit strategy BEFORE it all happens.

edit... oh oh oh, I need to add Mike Tyson quote, "Everyone thinks they have a plan until they get punched in the face" I know what kind of punches the silver market can throw... DON'T OVERLEVERAGE

Just grabbed a few ounces of 90% below the jm bullion Premium. Saw a bunch of peace and Morgan at $30.00 plus tax. Was very tempted to pull the trigger. Silver eagles 33.00 plus tax. On the fence. The rest were all well over market. What to do?

Monarch PM is nearly out as well. Thanks for the head's up.

Changechecker wrote:Just grabbed a few ounces of 90% below the jm bullion Premium. Saw a bunch of peace and Morgan at $30.00 plus tax. Was very tempted to pull the trigger. Silver eagles 33.00 plus tax. On the fence. The rest were all well over market. What to do?

Wherever you are seeing AME's for $33 each (and in stock), you better buy them right now.

Market Harmony wrote: This will be a great opportunity for prepared people. Those underprepared will be jealous, have FOMO, turn to hate, try to fight it, blow up accounts, and generally try to bring down anyone who was wise enough to prepare for it.

This is no joke. People will pile into this and I don't think the majors are going to stand in the way... in fact, should the major banks decide to join, the miners decide to hedge less, and the small investor not sell into the move, then DEAR GOD EVERYONE OUR SILVER DREAM WILL BE REALIZED!!!!!! And even better... realized prematurely!

I've been preparing since 1985.

I wouldn't be surprised if silver hits $50 sometime this week, perhaps even Monday. Sounds crazy, I know but it's entirely possible during a massive short squeeze.

The FOMO's will be buying paper only because no physical will be available.

I like to thank all the neck-beards out there for all their hard work.

Wow... 50 this week would be crazy

ill sell 500 oz at 50

Robinhood now has a limit of buying only 1 share of First Majestic (AG) and Silver Trust (SLV). Already the powers that be are punching back.

Keep stacking, unless they don't let you.

silverflake wrote:Robinhood now has a limit of buying only 1 share of First Majestic (AG) and Silver Trust (SLV). Already the powers that be are punching back.

Keep stacking, unless they don't let you.

They can control paper purchases much easier than physical purchases.

It's going to spike at the open, so please be careful if you are planning to buy physical when bullion dealers open for business. If you're a long time stacker (like me), you should be content to sit back with your popcorn and watch the show.

Here is your free ticket to the showdown starting at 6pm tonight...
Real time live futures chart: https://www.investing.com/charts/futures-charts
Click on "SI", that is the live silver spot price.

Crazy out there for physical. I went back to grab the eagles and figured I would grab the stack of 2021's in case Dave still needed them. GONE!! Between visits someone (or couple of guys) came in and cleaned out all the ASE's and many lower priced silver coins. Only thing left are some low quality numismatics in the $50-$60 range. The dealer whose cases was wiped out will be happy...until he has to source more inventory.

My point on Robinhood limiting share purchases is that it is a new form of manipulation. Now, I don't use Robinhood myself but thats where the new push is coming from as the reddit wallstreetbets crowd moves from GME (because robinhood now prohibits buying shares but you can sell) to SLV (and AG). I feel like most of us here have been stacking physical long enough to not have too much of a fear of missing out if we can't immediately get physical but i still like trading these paper vehicles in my Roth and IRA. And if TD Ameritrade tries to tell me I can't, I will be a bit upset. I sell covered calls with SLV weekly. Easy money. I also have a position in AG that i have built over years. I bought those shares with the hope that price would rise. If you take away the ability of a large group of investors (reddit) to add to their positions, thus limiting demand, then they are also limiting my potential price rise.

Its starting to feel weird and more broken than it was before.

Keep stacking?

Changechecker wrote:Crazy out there for physical. I went back to grab the eagles and figured I would grab the stack of 2021's in case Dave still needed them. GONE!! Between visits someone (or couple of guys) came in and cleaned out all the ASE's and many lower priced silver coins. Only thing left are some low quality numismatics in the $50-$60 range. The dealer whose cases was wiped out will be happy...until he has to source more inventory.

The higher demand started on Thursday. Bullion dealers pulled a lot of inventory last night and today until they can adjust their inventory, hedges and set premiums in order to deal with the increased demand.

It's going to be a wild ride. Get ready.

if it hits $50 this week i'm clearing out my safe

-The Great

Was up 8% at the futures open, but it's fading a bit.

Premiums up significantly on every bullion dealer website. Apmex now charging $8 over spot for 90% bags - ouch

JM Bullion site down for maintenance.
Provident site down for maintenance
Code word for price adjustments.

I have a lot of 40% halves that I pulled from boxes several years ago. If silver hits $50 I would like to sell.

-What would be my best way of moving $800-900 face?
-My presumption is that if there is a short squeeze eventually it will blow over and the price will settle back down. Is that what everyone else is thinking?
-If that is the case, I would then reinvest in 90% and or Silver Eagles.

APMEX keeps having loading issues (connection times out). Currently seeing $50 face bags only $9.99/oz over spot, ASEs as low as 38.84 (for 1000ozs purchased)!

I think they have prepared for the mania, indeed.

knibloe wrote:I have a lot of 40% halves that I pulled from boxes several years ago. If silver hits $50 I would like to sell.

-What would be my best way of moving $800-900 face?
-My presumption is that if there is a short squeeze eventually it will blow over and the price will settle back down. Is that what everyone else is thinking?
-If that is the case, I would then reinvest in 90% and or Silver Eagles.

At $50 SILVER, I'd sell the whole lot to Provident, or one of the other major market makers. My 2c ....

Country wrote:

knibloe wrote:I have a lot of 40% halves that I pulled from boxes several years ago. If silver hits $50 I would like to sell.

-What would be my best way of moving $800-900 face?
-My presumption is that if there is a short squeeze eventually it will blow over and the price will settle back down. Is that what everyone else is thinking?
-If that is the case, I would then reinvest in 90% and or Silver Eagles.

At $50 SILVER, I'd sell the whole lot to Provident, or one of the other major market makers. My 2c ....

Thanks

JobIII wrote:APMEX keeps having loading issues (connection times out). Currently seeing $50 face bags only $9.99/oz over spot, ASEs as low as 38.84 (for 1000ozs purchased)!

I think they have prepared for the mania, indeed.

All Apmex 90% generic bags are $7.99 over spot.