Silver Stocker

Main Forums => Silver - General Discussion => Topic started by: edthelorax on March 24, 2020, 09:55:00 PM

Title: PHYSICAL supplies and premiums
Post by: edthelorax on March 24, 2020, 09:55:00 PM
With spot at $14.60:
American Silver Eagles are going for $24 and up.
Silver 10oz bars are $19.60
Rounds are over $20
That's if you can find them.

The spreads on gold CFD's are getting very wide. I see many traders complaining they don't want to trade as the margins make it difficult just to cover the spread.

There will be cascading defaults as promises to deliver greatly outnumber ounces available. Many think they have gold but will find out it was loaned out or physical was never actually purchased. Similar to having money in the bank but the bank only has to have 10%. Well. used to have 10%. They don't have any reserve requirements any more.
Possession is 9/10 the law. Many will have to settle for cash. Some will get nothing by the time this runs it's course. IMHO.

Anyone can post anything on twitter. A gold rumour. (https://twitter.com/roysebag/status/1242577515782209540)
Title: Re: PHYSICAL supplies and premiums
Post by: edthelorax on March 25, 2020, 01:56:51 AM
https://thedailycoin.org/2020/02/01/cftc-position-limits-vs-jpmorgans-rico-silver-comex-hoard/ (https://thedailycoin.org/2020/02/01/cftc-position-limits-vs-jpmorgans-rico-silver-comex-hoard/)
Title: Re: PHYSICAL supplies and premiums
Post by: sandybeachdave on March 25, 2020, 12:34:27 PM
It is almost sickening to see these stories about mine closures putting pressure on supply and therefore price when one considerers all the PM's that were produced from mines at a loss. Had that production subsidized by shareholder owners been put on care and maintenance, the prices would have reflected reality much sooner and been profitable for shareholders, albeit at a later date. CDE, AG, and NGD come to mind immediately as examples but there are many more.
Title: Re: PHYSICAL supplies and premiums
Post by: elumps on March 25, 2020, 01:52:33 PM
Where are you guys going to buy your physical?
Title: Re: PHYSICAL supplies and premiums
Post by: edthelorax on March 25, 2020, 02:15:02 PM
Welcome here!
JMBullion is completely out.
GoldSilverBull.com has a month delay in shipping and 5$ premium.
APMEX appears to be pretty much out.
Kitco has a few 10oz for 220$ but they have a 1000$ min.
Do NOT buy anything from Amazon, Etsy be very careful of what seller you buy from on Ebay.
Title: Re: PHYSICAL supplies and premiums
Post by: edthelorax on March 25, 2020, 02:23:29 PM
I know where to get $40 face value US 90% pre 1964 coins for $600 which is very expensive and probably won't last very long at that price.
Title: Re: PHYSICAL supplies and premiums
Post by: edthelorax on March 25, 2020, 05:20:48 PM
I can get 20 1oz rounds for 410. still too much premium for me. If anyone wants it LMK.
Title: Re: PHYSICAL supplies and premiums
Post by: ken on March 25, 2020, 09:27:10 PM
I can get 20 1oz rounds for 410. still too much premium for me. If anyone wants it LMK.
Panic buyers.
Title: Re: PHYSICAL supplies and premiums
Post by: sandybeachdave on March 28, 2020, 11:19:20 AM
$46.95 for an uncirculated silver Eagle from the mint. Physical is separating from paper big time.

https://catalog.usmint.gov/coins/silver-coins/silver-dollars/
Title: Re: PHYSICAL supplies and premiums
Post by: edthelorax on April 16, 2020, 03:04:48 AM
This won't help lower premiums>
https://www.numismaticnews.net/article/united-states-mint-temporarily-shuts-down-west-point-facility