adagirl wrote:Might be the calm before the storm? Maybe the below link has something to do with your observation????
I just read this today: http://www.numismaticnews.net/article/s ... id=2173371
silverflake wrote:Does anyone remember late 2008? The physical price of silver was about 40% higher than the spot quotes. Gold was higher too, but not as much as silver. AND I couldn't find any gold for sale at my usual haunts (APMEX etc.) other than high end numismatic pieces. That was when TSHTF and the U.S. banking system was on the verge of collapse. Keep your memories sharp, because anything can happen - It already did.
silverflake wrote: Sure enough, I got the sideways, funny look.
Cu Penny Hoarder wrote:IMO, this is not the time to hold ANY paper instruments: SLV, GLD, GG, AEM, AUY, SLW, PSLV, or anything else. If you can't touch it or hold it in your hand, you do NOT own it. When the huge SHTF market crash comes, these things will dump the same way they did in 2008. It's just not worth the risk.
Physical is the only way to go right now. I am taking about wealth preservation here, not hoping to ace a '10 bagger' gambling on paper gold and silver.
68Camaro wrote: I do not really own anything in my 401K in that sense that I can't hold it, yet I must assign something to it because I do not yet have access to the funds.
Mossy wrote:68Camaro wrote: I do not really own anything in my 401K in that sense that I can't hold it, yet I must assign something to it because I do not yet have access to the funds.
I borrowed from my 401K and used a good bit for PM. Check it out, you might be able to borrow up to half of what you have in there, and what you pay and the interest both go back into the 401K.
balz wrote:Forgive me if I look like a dumb, but I don't understand what is PSLV and its relation to the silver spot price. Anyone would care to explain this to me? Thanks!
68Camaro wrote:balz wrote:Forgive me if I look like a dumb, but I don't understand what is PSLV and its relation to the silver spot price. Anyone would care to explain this to me? Thanks!
It's just a fund (look at the link above) - a Canadian fund - Sprott Physical Silver - which owns a bunch of bullion silver and sells out shares of it in units that are currently about 0.38 toz per unit. If you buy enough units and follow the rules, in theory you can actually go pick up the silver that you own. I'm sure there is a 1000 oz minimum, as they are all london good delivery bars.
68Camaro wrote:PSLV is - arguably - silver. They have something over 22,000,000 ounces in storage. Buy PSLV and you've bought some of those ounces. Currently those ounces are selling at a premium to the price of COMEX silver. PSLV was selling today for the equivalent of $49-50 per ounce.
Many argue - with a good story behind it - that COMEX silver - whether SLV or another fund or direct bullion itself - isn't properly backed. That for every ounce sold on the exchange that there is actually only a fraction of an ounce behind it which actually exists. That COMEX silver is only paper silver. A form of fiat, essentially. As such, one might argue that the price of it has been debased, so that physical silver - whether in a fund like PSLV, or CEF, or literally in hand or on ebay - actually can bring a higher price than spot. There may come a point in time where this is realized. I'm wondering if we are at or near that time.
Others will say that this a blip that will correct, a momentary imbalance. Only time will tell for sure.
balz wrote:Hmm... Is that 0.3878 some kind of a rule? I mean: is it always 0.3878?
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