Varmint
NES Member
Did I? It hit $28 this morning sometime after 8AM on Silverprice.org.
If anything, I was late...
Good Times...
![[smile]](/xen/styles/default/xenforo/smilies.vb/001.gif "Smile [smile]")
I meant you made a $28 cake when it should have been $29!
-
If you enjoy the forum please consider supporting it by signing up for a NES Membership The benefits pay for the membership many times over.
-
Be sure to enter the NES/Pioneer Valley Arms February Giveaway ***Smith & Wesson SD9VE 9MM***
Gold and silver prices are down
- Thread starter Rider
- Start date
I meant you made a $28 cake when it should have been $29!
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,573
Hey! I don't decorate 'em, I just bake 'em...
![[rofl2]](/xen/styles/default/xenforo/smilies.vb/035.gif "ROFL2 [rofl2]")
Edit: Did it hit $29? I've got a High of $28.86 at this hour...
Varmint
NES Member
Miners have been mostly ignoring metal prices recently. Silver miners are going down while silver keeps climbing. That's normally bearish but who knows in this nutty new world.
$29.08 right nowHey! I don't decorate 'em, I just bake 'em...
Edit: Did it hit $29? I've got a High of $28.86 at this hour...
Varmint
NES Member
Seems like a giant short squeeze or something.
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,573
not new guy
NES Member
- Joined
- Dec 7, 2009
- Messages
- 39,094
- Likes
- 62,790
Stopped by my local coin shop today. As far as I could tell everyone there was buying, despite the un-sale they were running.
$29.52 come on $30
Varmint
NES Member
Where were all these friggin buyers when silver was tooling around for years at $15?
Now that I think about it, they were all short silver at $15. Lol.
I'd love to see $50! We shall see...
I bought the majority of mine between $15.50 and $18. The latest stash was $15.50 and I'm REALLY thinking it's time to sell.
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,573
This is why I feel this push has legs.
Back in 2011 when silver was just below $50/toz all the local metal stores had plenty of silver on hand, and I literally watched old-timers bringing in boxfuls of 100oz Engelhard billet bars to cash in (Gate City Coin). Everyone was selling.
This time it's different...
Everyone is buying.
Most of mine was $20ish several year ago, so happy to see this running up. I may sell a bit at $30.
Varmint
NES Member
Sell it and buy silver miners, which haven't really moved yet.
not new guy
NES Member
- Joined
- Dec 7, 2009
- Messages
- 39,094
- Likes
- 62,790
I’ll confess to having a little $45 silver in my collection from back when.
- Joined
- Sep 10, 2009
- Messages
- 41,854
- Likes
- 79,573
Outstanding OTR!
Transcribed this from the Sprott Money podcast today cuz this quote is comedic gold 
From Eric Sprott himself:
“Some guys are selling when their stock hits 500 or 1000% but you have to realize that there’s massive upside here. I bought seven stocks yesterday but they had silver, some whom I’ve never even heard of before, but they were trading at garbage market caps but I said fine, “You got 30 million ounces of silver and your market cap’s $5 million, fine. I’ll buy 20% of your company and hope you have it and we’ll see where it goes.” Because I’m imagining it may go up 20, 40, 60, 100 times. You never know. Get in there baby!”
This guy is hilarious. Wish I had money to throw around like that in a bull market of a lifetime...but he may be right!
Daniel
From Eric Sprott himself:
“Some guys are selling when their stock hits 500 or 1000% but you have to realize that there’s massive upside here. I bought seven stocks yesterday but they had silver, some whom I’ve never even heard of before, but they were trading at garbage market caps but I said fine, “You got 30 million ounces of silver and your market cap’s $5 million, fine. I’ll buy 20% of your company and hope you have it and we’ll see where it goes.” Because I’m imagining it may go up 20, 40, 60, 100 times. You never know. Get in there baby!”
This guy is hilarious. Wish I had money to throw around like that in a bull market of a lifetime...but he may be right!
Daniel
Varmint
NES Member
Transcribed this from the Sprott Money podcast today cuz this quote is comedic gold
From Eric Sprott himself:
“Some guys are selling when their stock hits 500 or 1000% but you have to realize that there’s massive upside here. I bought seven stocks yesterday but they had silver, some whom I’ve never even heard of before, but they were trading at garbage market caps but I said fine, “You got 30 million ounces of silver and your market cap’s $5 million, fine. I’ll buy 20% of your company and hope you have it and we’ll see where it goes.” Because I’m imagining it may go up 20, 40, 60, 100 times. You never know. Get in there baby!”
This guy is hilarious. Wish I had money to throw around like that in a bull market of a lifetime...but he may be right!
Daniel
I remember he was buying up stocks of low-grade silver miners like crazy back when silver was $16. Deposits that wouldn't be profitable until silver is $25. People were like "What did he just buy?"
He's starting to look like a genius.
He’s Savant level at this point.
Varmint
NES Member
So apparently it isn't physical demand at all that's been driving up gold and silver prices, it's all ETF demand.
Due to Covid, demand for physical PMs has been depressed. So you've got your next drive for prices, when all that demand returns with a vengeance.
aheadoftheherd.com
Due to Covid, demand for physical PMs has been depressed. So you've got your next drive for prices, when all that demand returns with a vengeance.
Ahead of the Herd – Hundreds of top-notch, thoroughly-researched articles on commodities and junior resource companies
Hundreds of top-notch, thoroughly-researched articles on commodities and junior resource companies
aheadoftheherd.com
Just wait until COMEX can’t fulfill physical and all hell breaks loose.So apparently it isn't physical demand at all that's been driving up gold and silver prices, it's all ETF demand.
Due to Covid, demand for physical PMs has been depressed. So you've got your next drive for prices, when all that demand returns with a vengeance.
Ahead of the Herd – Hundreds of top-notch, thoroughly-researched articles on commodities and junior resource companies
Hundreds of top-notch, thoroughly-researched articles on commodities and junior resource companies
Varmint
NES Member
My understanding is that traders don't request physical if they're not sure they can get it - that they don't want to be on the hook for something they didn't receive. Also I thought from reading that the physical delivery at the Comex isn't something the exchange has to do, it is a recent thing. There's a lot of confusion about the way the Comex works, and there's a lot of tinfoilers spreading misinformation, so I'm not sure what is correct.
Hmmm. I gotta look a bit deeper into this. To me it would be a crisis of confidence and the whole world is watching the COMEX, not just US investors.
PaulR
NES Member
I'd like to thank SILVER for covering all my other dogs with fleas in my portfolio, propping it up and bringing me back to even these past 2-3 months. ![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
Varmint
NES Member
I've listened to some podcasts with experts on how the Comex works, and it doesn't sound tinfoily like a lot of people think. It's very complicated so I think that's why people think there's monkey business going on. But I do think you're seeing a short squeeze going on in silver.
richc
NES Member
100 ounce silver bars are selling for $3300-$3400. Silver Eagles, if you can fine them, are in the high 30's and low 40's per coin.
There's a clear separation between spot and physical PM assets. Supply and demand...
There's a clear separation between spot and physical PM assets. Supply and demand...
I have an offer to buy some of my bars at current spot ......should I be looking for over spot?
richc
NES Member
I think that is reasonable.
Are these 100 ounce bars? If so the current market seems to be $4-$5 over spot per ounce. It would seem that there should be some recognition of that in an offer price.
Is this from a dealer of a personal transaction? If a personal transaction I'd think a couple bucks over spot is a good place to meet in the middle.
PaulR
NES Member
My co-worker says Silver is going to 50.
He's never been right in 20 years of investing, but lets hope he's right on this one.
He's never been right in 20 years of investing, but lets hope he's right on this one.
Similar threads
