What's up with that? It's been parked in the $20 spot range for a while, now it's up almost $4 pretty quickly.
What's up with that? It's been parked in the $20 spot range for a while, now it's up almost $4 pretty quickly.
I noticed it was moving upward last week. As the economy gets ever more precarious, as shortages increase, as western governments continue to flounder in their idiocy...expect precious metals to rise ever more sharply.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
According to Monex ( https://www.monex.com/liveprices/ ), while silver IS coming up again, early last March it was $29.07.
In August, 2020, it was $31.75.
“I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”
Yeah I remember when it was $29+ range, told my relatives that I had given some for christmas gifts ect, that was the time to sell. I should've sold it all too. If it hits $27-28 I'll be highly motivated this time around.Originally Posted by JTHunter
Don't.
Wait.
Remember when silver went to $48 an ounce?
As the commucrats and 0'biden destroy the country, as the western world unravels from the fiscal irresponsibility of its inept leadership of the last several decades you can expect that precious metals will increase exponentially in short order.
When silver was hovering below $30 I talked with my coin dealer...he couldn't keep rounds in the shop they were selling so quickly and asked if I was willing to sell some of mine that I'd bought from him over the years. I told him I was waiting for the price to go higher first...he said he was too.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
No way. Last time it hit $29 I couldve sold and bought it back in the 18's. It fluctuates like everything you want to trade. Gold was supposed to be a super hedge for inflation, it did nothing but drop during the highest inflation. I don't buy the hedge anymore.That was 2011, the investment return is better trading the dips and peaks. It's really never been a great investment, look at 100 years, you'd have to call it right every 20 years or more or 50 if you bought it in 1934 and sold it in 1980 (jimmy carter, what a great president). https://www.macrotrends.net/1470/his...100-year-chartDon't.
Wait.
Remember when silver went to $48 an ounce?
As the commucrats and 0'biden destroy the country, as the western world unravels from the fiscal irresponsibility of its inept leadership of the last several decades you can expect that precious metals will increase exponentially in short order.
When silver was hovering below $30 I talked with my coin dealer...he couldn't keep rounds in the shop they were selling so quickly and asked if I was willing to sell some of mine that I'd bought from him over the years. I told him I was waiting for the price to go higher first...he said he was too.
Last edited by 1 Patriot-of-many; 12-11-2022 at 11:12 PM.
Are you figuring the loss from price above or below spot (buy and sell) into your equations?
Last edited by Oswald Bastable; 12-12-2022 at 11:34 AM.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
Silver Spot Price 12/12/2022 = $23.39
2021 American Silver Eagle buy at $43.55/oz via Credit Card
2021 American Silver Eagle sell at $24.68/oz
Source = Kitco.com
Pretty sure 1Pat is talking either generic rounds or smaller bars (5 to 10oz) and while the margins are closer, given his spread of $18 to $29, taking the price above spot to buy and below spot to sell, I'm guesstimating at best he'd make $3 an oz on those trades.
It would require a significant quantity to make the trouble for that to be reasonably profitable. Then there's the shipping cost if you're going through a major dealer, on both sides of the trade...which would reduce the expected profit...
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
Rounds and bars I bought from $15-$18 Could've been sold back to JM Bullion at $29 last time it peaked. Right now their buyback prices for what I own 1 oz silver bars, 5 oz silver bars, 10 ounce bars 1 ounce and two ounce rounds are anywhere from $24-$25 per ounce (which is above spot price) an actual premium over it. https://www.jmbullion.com/my-account/buyback-products/
It's always above spot to buy and below to sell...that has to be figured into your calcs for speculation, along with cost to ship to someplace like JM, and shipping cost to buy from them.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
Nope check out the link. To sell is above spot. Depends how the supply and demand is going. Agreed though I've never seen buy below spot, used to be .99 above spot now inflated big time.
Last edited by 1 Patriot-of-many; 12-13-2022 at 09:42 AM.
Hmmm...yeah, demand is high and supply low at this point, so I can see them offering above spot to buy. Back when I was buying from my local coin shop (prices between $13 to $18) I was paying $2 over spot. Last I checked there, they were selling at about $6 over spot...too much for me given how slowly prices have moved.
Naw...I'll wait till prices hit $40+ and then start to gradually sell some, but I'll take it back to the coin shop and negotiate directly with the owner.
Again, if you're selling a quantity to someone like JM, you need to figure in shipping price (the stuff ain't light and shipping prices are through the roof) as well as insuring it. Buying back there's what you'll pay to have it shipped to you, and any insurance involved.
All I'm saying is, figure your margins carefully as you may find it's not as great a trade as you imagine, until the price goes high enough.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
Indeed this all is true.
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