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

[Cu Penny Hoarder]

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.

Gee... only $10 above spot - lol

Too late.

[pennypicker]

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.

Now they're talking "depression"-- well I guess we're finally going to see if silver is truly a "safe haven" metal or not--thus far it looks like NOT!

[68Camaro]

If you look at the last market shock event the spot price was driven down over a period of months but the market price with premiums remained strong, and within 2 years it started to skyrocket.

Institutions are flying to the dollar because credit lines are being pulled on so the exchange rate is going up.

[shinnosuke]

There used to be someone here, I think he lived in Georgia, who said that silver would never go below $20 again after that 2011 run up to $49. Turned out he was wrong. Well, I was thinking I would never see $12 silver again and now Kitco is showing $11.82. Yikes! Never say never.

[68Camaro]

There used to be someone here, I think he lived in Georgia, who said that silver would never go below $20 again after that 2011 run up to $49. Turned out he was wrong. Well, I was thinking I would never see $12 silver again and now Kitco is showing $11.82. Yikes! Never say never.

That was Barry T. I think he said it would never go below $25, actually. To be honest I drank a little bit of that kool-aide at the time, but I recovered.

I don't believe the paper futures market represents real price discovery, but it's existence and abuse by the large players actually creates opportunities for physical stackers, for a time. It does require extreme patience - you have to be in it for the long haul.

[Cu Penny Hoarder]

Just checked Apmex...

Premiums on 90% silver coin now...

$10.00 above spot!

[68Camaro]

When does capitalism become crisis gouging - even in the silver market? That said, I think this defines price discovery. That becomes the real price of silver, not the futures market.

[CLINT-THE-GREAT]

now $11.84 at 1:30pm CST. Also oil is $20.64.......

[shinnosuke]

now $11.84 at 1:30pm CST. Also oil is $20.64.......

Hey, hey, hey! It sure is great to see that great avatar of CLINT-THE-GREAT. Very nostalgic.

Oil prices are down. And here I was thinking that Saudi Arabia was our ally in the Middle East. I mean, Obama bowed to their King and Trump went and did the fancy sword dance with them.

[natsb88]

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

That didn't take long. Boeing looking for a $60 billion bailout. BA down to $101.

[68Camaro]

Boeing is close to being on the ropes. This couldn't have come at a worse time for them after the max debacle and their several other engineering development screw ups. The stock hit $89 today before recovering slightly higher (last I looked it was 98). They have pulled everything out of their lines of credit and their market cap has dropped by something on the order of 180 billion in a month. I worked most of my career for one of their major competitors for some of their products but I always wished them well and wanted them to succeed, especially in the commercial airliner business because we're all riding on them and they are the only US supplier left. If they are permanently damaged as a result of this, even if they continue at some level, it will hurt the country badly in the long term.

[bankmining]

Boeing is close to being on the ropes. This couldn't have come at a worse time for them after the max debacle and their several other engineering development screw ups. The stock hit $89 today before recovering slightly higher (last I looked it was 98). They have pulled everything out of their lines of credit and their market cap has dropped by something on the order of 180 billion in a month. I worked most of my career for one of their major competitors for some of their products but I always wished them well and wanted them to succeed, especially in the commercial airliner business because we're all riding on them and they are the only US supplier left. If they are permanently damaged as a result of this, even if they continue at some level, it will hurt the country badly in the long term.

You can always see if it gets to the 2009 Ford price level of 2 bucks

[68Camaro]

Relative to market cap, it's almost there. The Boeing price that is sort of equivalent to Ford's $2 level is about $15 (and I'm not sure they could execute their product lines at that point). At the rate they've been dropping they are only a few days away from $15.

[Cu Penny Hoarder]

Just checked a few bullion sites.

Inventories are 95% cleaned out. Some 90% left on Apmex, but very high ($10 over spot) premium.

ALL silver bars are gone, even the generics. All newer ASE's and CML's are gone.

Apparently, there were people who did not mind paying the higher premiums.

[pennypicker]

Just checked a few bullion sites.

Inventories are 95% cleaned out. Some 90% left on Apmex, but very high ($10 over spot) premium.

ALL silver bars are gone, even the generics. All newer ASE's and CML's are gone.

Apparently, there were people who did not mind paying the higher premiums.

Big disconnect between paper and physical silver right now. Junk 90% is bringing 14x face on ebay!

[shinnosuke]

I just paid $18.05/ASE. Didn't get as many as I wanted, but I figure when silver prices boomerang $18 will be cheap.

[ScottyTX]

Humm looks like there's some 35% war nickels at spot, debating on pulling the trigger on those....

[shinnosuke]

Humm looks like there's some 35% war nickels at spot, debating on pulling the trigger on those....

Oh, why not? You know you want to... You could turn around and sell them here in a worst case scenario. Well, in that scenario you might want to spend them at Kroger or HEB after educating the store manager.

[Cu Penny Hoarder]

I just paid $18.05/ASE. Didn't get as many as I wanted, but I figure when silver prices boomerang $18 will be cheap.

Very decent. Where?

[Zincanator]

Went to the grocery store today and they were sold out of Jello.

Strange days indeed.

[deacon]

This market is so strange. Everything is going down, even commodities. I can't decide if I want to buy more shares, or back up the truck. Too bad premiums look like they are high on metals.

[shinnosuke]

I just paid $18.05/ASE. Didn't get as many as I wanted, but I figure when silver prices boomerang $18 will be cheap.

Very decent. Where?

On another coin forum, I won't mention the name here but its initials are BS.

[Cu Penny Hoarder]

This market is so strange. Everything is going down, even commodities. I can't decide if I want to buy more shares, or back up the truck. Too bad premiums look like they are high on metals.

The stock market was a huge bubble and the virus was the pin. Market will continue even lower and be suppressed for a long time to come. There will be bear market rallies, but they'll all be head-fakes. Economy and unemployment is going to get worse, even worse than during the great depression. The credit bubble has burst. The Fed will be buying everything in sight. That will slow the collapse down a bit, but won't prevent it. Hyperinflation hasn't even happened yet... just wait until that gets started - yikes.

Silver will be at these low prices for only a very short time. Premiums will come back down very slowly as the PM prices rise. Most inventories will be in short supply for foreseeable future.

[coppernickel]

Markets, paper and commodities, are in confusion. The gold to silver ratio is over 1:100.

I am sticking to the fundamentals. Silver, gold, copper, and other metals have intrinsic value. If you don't hold it you don't own it. Government is using any opportunity to better control the population.

I've bought all the silver I can afford. Any silver I can find less than $20 an ounce is considered a deal. Yes, the spot price is lower, but with the FED, Treasury, and all the banks creating money and throwing it at the virus, I am expecting significant inflation.

Gold would be good, but my pockets aren't that deep. The copper and nickels already in storage get to stay.

[CLINT-THE-GREAT]

now $11.84 at 1:30pm CST. Also oil is $20.64.......

Hey, hey, hey! It sure is great to see that great avatar of CLINT-THE-GREAT. Very nostalgic. .

I do sneak in here every once in awhile to make sure you guys aren't getting into too much trouble.

. If you don't hold it you don't own it. Government is using any opportunity to better control the population.

THIS!!!! I was reading last week on the Silverbugs forum on Reddit last week about several people who was storing their PM's in Saftey Deposit boxes. With many banks closing their lobbies now, they weren't able to access their boxes. In fact one guy who literally started throwing a fit until they let him in, then the teller inside saiid they may not even reopen that branch EVER!!! As a lot of you know, they can clean you out and all banks are required to do is refund you your original safety deposit box fee. That's it. Their are so many Stories and YouTube videos about just such a thing. If you don't hold it, you don't own it

-The Great