Gold and silver prices are down

[Rob Boudrie]

Must have sold out between internet and Brick & Mortar. They are waiting for resupply.

Thanks for doing the legwork @barnabus.
~Enbloc

Another alternative is that with spot so low, they are acting as investors holding their stock hoping for a price increase.

 

[smokey-seven]

Well, slap my face and shut my mouth. My wife was right again. I WAS WRONG!

I've repeatedly said that we will see $30 silver before $17. I was proven wrong today.

I'm going shopping, my pick up is empty and at a little lower, I will back it up and fill it.

 

[oldgunner]

Well, slap my face and shut my mouth. My wife was right again. I WAS WRONG!

I've repeatedly said that we will see $30 silver before $17. I was proven wrong today.

I'm going shopping, my pick up is empty and at a little lower, I will back it up and fill it.

Let us know if you score any $17 silver, would ya bud?

 

[RumRunner]

Let us know if you score any $17 silver, would ya bud?

In if you find some

 

[Win]

IF platinum gets to where I can buy two one ounce coins for $1,600 then my Christmas shopping will be done. I love gold but they have some gold. I love silver but it does get bulky. They, my kids, have no platinum as of yet.

 

[enbloc]

Another alternative is that with spot so low, they are acting as investors holding their stock hoping for a price increase.

True. Also, maybe they bought a load in bulk and the SPOT price dropped below acquisition costs...?

 

[Varmint]

Let us know if you score any $17 silver, would ya bud?

Get a Comex trading account ($2000), buy a futures contract (5000 oz per contract) and stand for delivery. Keep in mind the 1000 oz bars are 70 lbs.

 

[Rob Boudrie]

True. Also, maybe they bought a load in bulk and the SPOT price dropped below acquisition costs...?

Aquisition cost is irrelevant to rational decision making.

Think of PMs as two investments you have to buy in equal unit quantities:

• 1. Spot PM
• 2. Premium over spot expressed as a percentage

Both fluctuate in value, and generally in opposite directions - so you are buffered on the upside and downside. And the spread on the premium between buy and sell is massive - can often exceed 50%. You may (emphasis may) find that the buy/sell spread of investment #2 is larger on the lower value premiums (Non-government mint products on the low end; Philharmonics in the middle; Eagles at the top).

 

[barnabus]

Must have sold out between internet and Brick & Mortar. They are waiting for resupply.

Thanks for doing the legwork @barnabus.
~Enbloc

Just an FYI

They are listed on eBay now. @enbloc

Roll of 20 - 2022 1 oz Austrian Silver Philharmonic Coin BU (Lot, Tube of 20) | eBay

This striking silver coin produced by the Austrian Mint honors the renownedViennese Philharmonic Orchestra (“Wiener Philharmoniker”). These superb silver coins contain. 999 fine silver and weigh 1 troy ounce, perfect for buying in bulk or collecting individually.

www.ebay.com

 

[Coyote33]

Looks like 22.929 to me, not 17.

 

[Varmint]

Looks like 22.929 to me, not 17.

Yeah physical silver sucks. Can’t write on it, can’t make paper airplanes out of it, can’t use it to start fires or wipe your ass.

Ok maybe you can wipe your ass with it.

 

[enbloc]

Looks like 22.929 to me, not 17.

I highly doubt they will sell it for the SPOT price. Where's the profit in that?

 

[Coyote33]

I highly doubt they will sell it for the SPOT price. Where's the profit in that?

I only see the one price. It does not specify "SPOT" or otherwise.

 

[enbloc]

I only see the one price. It does not specify "SPOT" or otherwise.

The price you see is what they are selling it for, not SPOT. The price is SPOT + whatever Premium they want to charge.

At the time of this post SPOT is: $18.06 USD/toz

 

[enbloc]

Looks like 22.929 to me, not 17.

Where did you get the $17...?

 

[Coyote33]

Where did you get the $17...?

Higher up in this thread.

 

[richc]

Higher up in this thread.

I suspect that someone thought there were 25 coins in the tube, rather than 20. The math works out that way.

 

[enbloc]

Higher up in this thread.

Ah, ok.

 

[NHCraigT]

Texas Billionaire Wipes $50 Million of Gold and Silver Coins off the Market

Big Money is Entering this Market!

pmetx.com

 

[Rob Boudrie]

Texas Billionaire Wipes $50 Million of Gold and Silver Coins off the Market

Big Money is Entering this Market!

pmetx.com

Temporary price runup as big investor moves in, vague on details.... time to stock that FOMO and convince people they are lucky to buy at whatever premium is being charged.

 

[Varmint]

Temporary price runup as big investor moves in, vague on details.... time to stock that FOMO and convince people they are lucky to buy at whatever premium is being charged.

Unfortunately this kind of thing has literally no effect on the spot prices. The retail gold and silver mints never seem to expand capacity, they just sell out and don't put any greater demand on the spot market. All it does it make it harder for the physical investor to find anything.

Maybe this is by design, to suppress the price of gold and silver.

When gold goes to $2500, forget about finding any coins.

 

[oldgunner]

Unfortunately this kind of thing has literally no effect on the spot prices. The retail gold and silver mints never seem to expand capacity, they just sell out and don't put any greater demand on the spot market. All it does it make it harder for the physical investor to find anything.

Maybe this is by design, to suppress the price of gold and silver.

When gold goes to $2500, forget about finding any coins.

Still buying the dips

 

[Rob Boudrie]

Unfortunately this kind of thing has literally no effect on the spot prices. The retail gold and silver mints never seem to expand capacity, they just sell out and don't put any greater demand on the spot market. All it does it make it harder for the physical investor to find anything.

It did when the fat boys in TX ran silver up to $50+ an ounce a few decades ago.

 

[enbloc]

It did when the fat boys in TX ran silver up to $50+ an ounce a few decades ago.

Yep. Silver Thursday. It's what got me on the PMs path...
(Hunt Brothers)

 

[Varmint]

It did when the fat boys in TX ran silver up to $50+ an ounce a few decades ago.

Well the difference was they were involved in the futures market - this woman is only buying retail silver, which will have no effect on the spot price.

She should buy futures contracts and stand for delivery, would be a lot cheaper too.

 

[DJBrad]

Is the fomo going to happen soon? Is the mainstream going to adopt? It could be happening now…..

When should you buy gold?

Gold has historically been a solid hedge against the rising costs of inflation.

www.cbsnews.com

 

[Varmint]

Is the fomo going to happen soon? Is the mainstream going to adopt? It could be happening now…..

When should you buy gold?

Gold has historically been a solid hedge against the rising costs of inflation.

www.cbsnews.com

Dunno, but people should buy gold miners now. It's a rare confluence of tightening Fed, strong stock market, high energy costs and low gold price, making miners look like terrible investments. Most of those things are likely to reverse, maybe all at once, driving gold miners skyward.

 

[DJBrad]

Dunno, but people should buy gold miners now. It's a rare confluence of tightening Fed, strong stock market, high energy costs and low gold price, making miners look like terrible investments. Most of those things are likely to reverse, maybe all at once, driving gold miners skyward.

The volume and despair demand a greater percentage of holdings in gold and gold equities. We’ve talked about the phys market being very tight but the lack of money flows into junior, mid teirs, and producers is crazy. I upped my holdings of FSAGX substantially today after seeing it hit $18.30.

 

[Varmint]

The volume and despair demand a greater percentage of holdings in gold and gold equities. We’ve talked about the phys market being very tight but the lack of money flows into junior, mid teirs, and producers is crazy. I upped my holdings of FSAGX substantially today after seeing it hit $18.30.

Yeah, a New Found Gold is almost down to $3. I own enough so haven't bought more. High energy costs doesn't mean anything to an explorer so that's pure sentiment driven.

 

[Coyote33]

Dunno, but people should buy gold miners now. Dunno, but people should buy gold miners now. It's a rare confluence of tightening Fed, strong stock market, high energy costs and low gold price, making miners look like terrible investments. Most of those things are likely to reverse, maybe all at once, driving gold miners skyward.

The volume and despair demand a greater percentage of holdings in gold and gold equities. We’ve talked about the phys market being very tight but the lack of money flows into junior, mid teirs, and producers is crazy. I upped my holdings of FSAGX substantially today after seeing it hit $18.30.

Yeah, a New Found Gold is almost down to $3. I own enough so haven't bought more. High energy costs doesn't mean anything to an explorer so that's pure sentiment driven.

Hey, slow down hotshots.
Can you guys dumb this down for people who are not as up to snuff on their stock trading lingo?
Thank you.