Silver - $27 going to Zero! Call your boss..beg for job back

[68Camaro]

Punched in for 500 oz at 13.93 shipped. That's a $2 premium over spot for Ahasi generic 1 oz bars from JMB. There wasn't much selection left and the gov coin essentially started at $16 or higher. I watched it go down to 13.88 and then start back up so I punched the button. If spot does eventually circle back and continue down, I don't think there will be any physical left at less than months away in 100 oz bars or higher.

I thought I had all the silver I needed - and I do - but this is the lowest price I've paid for new silver in quite some time. I would have to check records to see when the last buy was cheaper. Maybe never (since I didn't get into volume silver until 2010).

[Cu Penny Hoarder]

Punched in for 500 oz at 13.93 shipped. That's a $2 premium over spot for Ahasi generic 1 oz bars from JMB. There wasn't much selection left and the gov coin essentially started at $16 or higher. I watched it go down to 13.88 and then start back up so I punched the button. If spot does eventually circle back and continue down, I don't think there will be any physical left at less than months away in 100 oz bars or higher.

I thought I had all the silver I needed - and I do - but this is the lowest price I've paid for new silver in quite some time. I would have to check records to see when the last buy was cheaper. Maybe never (since I didn't get into volume silver until 2010).

Nice. I cannot imagine why any stacker would be sitting on their hands right now. This is the best buying opp in a decade!

[pennypicker]

I rushed to JM Bullion this morning and all the quality silver is out of stock and they've removed all the pre-order status on the good silver as well

[Cu Penny Hoarder]

I rushed to JM Bullion this morning and all the quality silver is out of stock and they've removed all the pre-order status on the good silver as well

Gotta be early/quick before all the bullion dealers get out of bed.

Premiums all up greatly now.

[NDFarmer]

Probably a dumb question but what good is $10 silver if the premium is $10 ? So you end up paying $20 for $10 silver.

[68Camaro]

Probably a dumb question but what good is $10 silver if the premium is $10 ? So you end up paying $20 for $10 silver.

Not much...

[ScottyTX]

I've been looking for any decent silver all morning and the best I can find at the moment is 1.50 over for generic bars. Luckly I picked up 200 face 90% on Friday for around .95 over spot, we'll see how long that takes to get in. If anybody has any leads, I'm all ears

[68Camaro]

You're not going to do much better than $1.50 over.

[Treetop]

LOL planned to buy a bunch of silver with our tax refund and clearly its the best time in years but people are losing it over this virus. I think I will stay liquid for now. Maybe Ill grab another roll of 20-25 rounds if it drops another buck.

[Cu Penny Hoarder]

The $250 FV junk bag I bought at $14.60 yesterday is now worth $400 more today, even with the price slammed down to $12.70... all due to the premium increase.

I bought another bag this morning when Ag dumped to $12.00 (what a gift!). Soon after that, the premium went up again to $8.00 over spot. That bag is worth $300 more this afternoon.

Crazy.

[Treetop]

The $250 FV junk bag I bought at $14.60 yesterday is now worth $400 more today, even with the price slammed down to $12.70... all due to the premium increase.

I bought another bag this morning when Ag dumped to $12.00 (what a gift!). Soon after that, the premium went up again to $8.00 over spot. That bag is worth $300 more this afternoon.

Crazy.

WOW. Still better for me to stay liquid atm though. I still have my old treasure buried and the map to it hidden.

[CardsNCoins]

........Some stocks like Boeing are heading toward cheap. Another 20% down on BA and I might jump on. They were at 450 not long ago, hit 160 this morning. They get to 120 and I'll be trying to find some dry powder (unless they have a new technical screw up).

Closed at $129.61 today. You've got me thinking.........

[IdahoCopper]

You're not going to do much better than $1.50 over.

Saturday I bought 10 x 10oz bars at $1.50 over from the LCS.

Monday morning the shop owner called me to say he has stopped selling Ag because he cannot find anything reasonably priced to replace it. He said he regretted selling me the 100 oz on Saturday.

When people are desperate to get out of rapidly inflating cash, and cannot find Au or Ag, they will buy bitcoin.

[natsb88]

........Some stocks like Boeing are heading toward cheap. Another 20% down on BA and I might jump on. They were at 450 not long ago, hit 160 this morning. They get to 120 and I'll be trying to find some dry powder (unless they have a new technical screw up).

Closed at $129.61 today. You've got me thinking.........

I'm still very leery of Boeing. The airlines have grounded a third of their fleets including most of their wide-body jets. American came out with some generous furlough and early retirement offers yesterday for pilots after just a day of negotiation with the union, a process that normally takes months, and it's a complete 180-degree turn from the hiring spree and pilot shortage of the last several years. The airlines seem to be preparing for a minimum of 6-12 months of drastically reduced operations. Even if COVID-19 does indeed level off in the next 3-4 months and all travel restrictions are lifted, a lot of casual travelers will be lacking the desire/confidence and/or funds to fly. Boeing has a lot of backorders to fill and of course a lot more going on than just building airliners, but these events suggest there could be a significant reduction in new airliner orders for the next couple years, which could slow Boeing's recovery from the ongoing 737-MAX and spacecraft problems.

Juan Browne is a Boeing 777 pilot (currently on medical leave for prostate cancer, treatment was successful and he is now waiting for the FAA to process his paperwork so he can get back to work) who makes some interesting aviation videos and does some other independent reporting in northern California. He gained popularity for his factual, on-the-ground reporting covering the entire Oroville Dam spillway failure and reconstruction. Here's a video from yesterday about the early retirement offers, and there are videos from the last couple days about reductions and shutdowns.

[68Camaro]

I understand your leery-ness and the apparent internal issues are what give me some pause. BA has already dropped below my fairly cavalier number of 120. After rethinking this even before your post I'm not ready to buy in at 120. I will be watching as it drops - and I think that will continue for some weeks - so a) why buy in too high and b) the blood in the streets number is for me something more like 35 to 50.

I do think Boeing is essentially a too big to fail company - a national resource as a major defense supplier and our only remaining major large airplane builder - but they not only have these market issues to deal with but they lately have shown us a series of very "un-Boeing-like" executive bad decisions on technical risk issues. I had predicted that the intergenerational changes combined with leadership immaturity would create this trend - I'm just sorry to see this happen to Boeing - I do believe they will make corrections but I'll not sure how long that will take. So I will continue to watch and look for a future opportunity at a still lower price.

[68Camaro]

Also looking at Ford. Bought at 1 and change back in Jan 2009, sold before the next high but made a tidy little profit. They are back below 5 now and if it drops below 3 I will be watching them closely. They also have issues and market concerns so its not a no-brainer but I would be willing to gamble on a couple hundred shares at the right price.

[Cu Penny Hoarder]

You're not going to do much better than $1.50 over.

Saturday I bought 10 x 10oz bars at $1.50 over from the LCS.

Monday morning the shop owner called me to say he has stopped selling Ag because he cannot find anything reasonably priced to replace it. He said he regretted selling me the 100 oz on Saturday.

When people are desperate to get out of rapidly inflating cash, and cannot find Au or Ag, they will buy bitcoin.

They'll buy bitcoin? No, they won't. They'll buy something of value instead... bread or cans of food perhaps.

The bitcoin fad has about run it's course. It's just a gambling/speculation instrument.

[Morsecode]

Yes, it's partly a fad I guess. But it has been around long enough now to gain some (can't believe I'm saying this) legitimacy.

However, I don't see an investment minded panic driven public at large jumping on the bitcoin bandwagon, the lack of available precious metals notwithstanding. Pretty much everyone who fancies bitcoin is already in bitcoin is my guess.

And talk about volatile. What other investment can be driven to wide swings in nano seconds on the false flag news flashes, which I'm starting to think is behind all this Wuhan nonsense.

[Cu Penny Hoarder]

Yes, it's partly a fad I guess. But it has been around long enough now to gain some (can't believe I'm saying this) legitimacy.

However, I don't see an investment minded panic driven public at large jumping on the bitcoin bandwagon, the lack of available precious metals notwithstanding. Pretty much everyone who fancies bitcoin is already in bitcoin is my guess.

And talk about volatile. What other investment can be driven to wide swings in nano seconds on the false flag news flashes, which I'm starting to think is behind all this Wuhan nonsense.

I agree 100%

[68Camaro]

Except for higher priced one-off art bars/rounds starting at $6.50+ over spot, or pre-market sales with delivery many weeks out, JMB is down to some generic 1 oz Buffalo rounds at $2.50 ish over spot, and on those they aren't promising shipment for 10-15 business days, with a $299 minimum order.

[Cu Penny Hoarder]

Except for higher priced one-off art bars/rounds starting at $6.50+ over spot, or pre-market sales with delivery many weeks out, JMB is down to some generic 1 oz Buffalo rounds at $2.50 ish over spot, and on those they aren't promising shipment for 10-15 business days, with a $299 minimum order.

I tried a few other bullion dealers over the years and was not very happy with the shipping time and customer service. I only deal with Apmex now. I bought so much from them over the last 15 years I have lifetime VIP status. They treat me like gold (pun intended) and I never had any issues with them. Also, I have a contact there gives me inside info on what is going on in the PM market/industry, which I find invaluable.

*** No, I do not work for Ampex, or am I paid to endorse them.

[68Camaro]

I think we've done this dance before but every company is wonderful until they day they aren't. I had a horrible unforgivably bad experience with APMEX which - while I was eventually made whole - resulted in me swearing to never do business with them again - ever. I hold those promises when I make them. As a result I buy primarily from JMB/Providence, TPM, and Miles Franklin.

[CardsNCoins]

........Some stocks like Boeing are heading toward cheap. Another 20% down on BA and I might jump on. They were at 450 not long ago, hit 160 this morning. They get to 120 and I'll be trying to find some dry powder (unless they have a new technical screw up).

Closed at $129.61 today. You've got me thinking.........

Barely 2 days later and now it's at $101.60 Wow

[NDFarmer]

I would love to buy some silver. I have been buying from Provident Metals and have had good luck with them in the past. They are sold out of everything except for a few generic silver rounds priced at $22.00 per ounce.

[Cu Penny Hoarder]

........Some stocks like Boeing are heading toward cheap. Another 20% down on BA and I might jump on. They were at 450 not long ago, hit 160 this morning. They get to 120 and I'll be trying to find some dry powder (unless they have a new technical screw up).

Closed at $129.61 today. You've got me thinking.........

Barely 2 days later and now it's at $101.60 Wow

Wait and buy it at $10.

Some financial experts talking "depression" now.

Hoard all the cash you can for when the time is right. We're nowhere near a bottom or buy point yet.