Who will we buy from at $15

[Cu Penny Hoarder]

If it drops low enough that there are no sellers maybe RC could get together and take delivery of a contract, LOL.

Chris already has a bunch of 1000 oz silver bars at home, uses them for doorstops

This quote about the doorstops reminds me about a time about 3 years ago when I was in a local coin shop. One of the other customers and I were chatting while I was looking at a 100 (not 1000) oz. silver bar. He told me a story about when he moved. I can't remember the quantity, but I think it was either 2 or 4 of the 100 oz. silver bars that he used as door stoppers. I guess he'd used them for years and had totally forgotten about them.

When he arrived at his new home and unpacked all his stuff, he noticed that the moving van company had stolen the doorstoppers. He filed a claim, but said he never got any of his money back. They wanted proof that he had these expensive silver doorstoppers, and he had no proof- just his word.

By the way, my doorstoppers are made of wood and not worth quite as much as silver bars.

Some very nefarious people work for moving companies. When I moved, I did not have 1000oz bars, but I had a safe full of PMs and other goodies. Before I moved took pictures of everything in the safe and told the moving company I had photo documentation of everything that was in the safe. This kept them honest.

[Cu Penny Hoarder]

There will be sellers at virtually any price you can name, no matter how low. The three D's (death, divorce and desperation (i.e., near bankruptcy)) assure us of that. Think about death alone- how many coin collectors who die have their collections carefully liquidated by someone who really knows what they are doing and acts in the sellers best interests? Probably very few. Those of us who have found rolls of silver halves at banks over the last several years can attest to that. So there will always be sellers.

Now, in terms of supply from the dealers themselves, that is a different story. I remember in October, 2008 going to a dealer who said he would only sell a maximum of two silver American Eagles to each customer. I'm sure he had lots of silver on hand, but not at that price. When silver was about $8.90 an ounce, he wanted about $13.50 or so per ounce for it. He was no fool.

I bet that if someone came in off the street at that time and said "I'm gonna give you $30 an ounce for all the silver you can sell me right now (Editor: when it was $8.90 an ounce and very little was available) and you can't make calls to anyone else to round up additional supply", there would have been lots of silver (probably many bags) coming out of the woodwork to supply the potential buyer! This at the same time that the dealer only had 2 coins available per customer.

My LCS guy sells ASEs for spot+5 dollars right now. Same for CMLs.