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Lowlow

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  1. Didn't take that long, physical is now starting to become available in the United States again. Not huge amounts, but since the price drop in spot it's been sold out and now some places are starting to show inventory again. Still a very high premium, but even that has started to tighten up on a few products. Hopefully only another few weeks and the premiums will start to tighten more on popular products. Some products are probably just gone for a while, maybe for a long time, such as 90% silver.
  2. Yes I absolutely agree that everyone should listen to the OP and understand that silver is basically worthless because there is so much of it in the Earth's crust. Please do not continue to purchase said silver from dealers, and allow the premium and price to fall to near zero where they belong. 🥰
  3. I did pick up a small amount of physical, but I was already going to do that before all of this happened to the spot price, so even with the inflated premium I actually paid less than I had planned to. That said, I'm just waiting for the price on physical to fall like everyone else (who is a buyer) is ... like I've said here for the past 2 or 3 years, I was waiting for physical to drop below 15 USD/oz to really start loading up again ...
  4. Few weeks to a month or two, I think. It really depends on how bad you think the financial situation will get, and at the moment it looks like it will be pretty bad. It's all fun and games at the moment .. stocks took a hit, but the USD is up vs. everything, and people aren't feeling the bite of a recession yet, even people who have been laid off are okay for this moment, but that will change quickly. Once it all really starts to bite that's when prices will start to drop and premiums will fall, because your neighbor won't just have a for sale sign on his sports car, he'll also be down at the coin shop selling any physical he has to cover the mortgage on the house he can't afford to pay for. EVERYONE will want cash, and they'll do anything to get it as debt gets destroyed and paper burns. Basically a replay of 2008/2009, except this time we probably won't get the recovery and will end up with a Depression (capital "D") instead. That's what I think.
  5. It's different promises on different paper.
  6. The entire culture is going to change as this goes on. Right now, for example .. everyone is all "raise the minimum wage ...", but if unemployment goes to 25% and nobody can find a job because the minimum wage is set to high, that entire mindset will shift as everyone starts working under the table for whatever money they can get to keep their families fed. That will become resentment against people who are making it hard for people to make ends meet. It's all going to change if it continues to get worse, but it takes time ... I've said it so many times before ... we are going to have to relearn all the old lessons the hard way .. because people have forgot. At the moment they are worried about trans bathrooms, but soon they'll be worried about bedrock things like the stability of their nation's currency ...
  7. Keep a record of precious metals prices for actual metal and the spot price day by day for history, I promise if you are a precious metals investor over the long term you will want to have this information available to you in the future. The only history of prices I kept in 2008/2009 when premiums went through the roof were the actual receipts for the few purchases I made, and I'd love to be able to look back on some kind of a record and see (or be able to calculate) how much of a premium there was on physical metal on the various coins, rounds, and bars I am interested in day by day as premiums settled. I remember it took at least weeks for the price of physical to approach the spot price, and I would be using that information now to make decisions about when to make purchases with this newest hit to spot prices if I had that information available to me. Do yourself a favor ... make some kind of record now. If you like U.S. silver eagles, each day go record the spot price and then prices from a few of your favorite dealers so that you can calculate how much they were charging over spot each day, because this is a rare period of time to be able to gather that information.
  8. Lowlow

    The Wait ...

    I remember 2008/2009 when silver price dropped as the markets tanked, and premiums were very high then too. It took weeks, at least, for the premium to settle down and for the market to get to the point that you could find physical silver for a price closer to the paper price .. but that did eventually happen, and I expect it to happen again. But it's _so_ hard to wait when the paper price is sitting down under 12 USD/oz, most silver bugs would give just about anything to be buying physical silver at that price right now. For now, all we can really do is admire the silver that we already have and wait ... But it is .. so. hard. to. wait.
  9. Is that what I said ? I don't wtf you are going on about anyway ... I've stored wheat for decades, and with a low moisture content and sealed in mylar with an oxygen absorber, it's great. I mean I'd be much more worried about mice, insects, and etc getting into than ****ing ergot ... I mean you have to have quite an imagination to think that's going to be the problem.
  10. Ergot is a disease of rye, not wheat. It _can_ affect wheat, but it's incredibly rare in storage ...
  11. No joke .. 1oz gold for 117oz of silver .. I'd take that deal any day
  12. I haven't bought gold in forever, but I'd be more interested in it if I were in the UK. Hopefully your independence from the EU will bring some reforms in your tax system that make silver a more reasonable choice there.
  13. I'd love to be buying physical at this price, but just like in 2008/2009 it will take a while for the premium to drop and for physical to be available at the paper price. Unless you want to take delivery on a comex bar or something all we can do is wait. I can see by what's available that people have been making a run on prepper coin ... i.e. 90% U.S. silver ..
  14. Premiums during the deflationary periods of 2008/2009 tended to following paper prices by a few months, but it's a good point, don't think you'll get a price on physical that reflects the beaten paper price at the market bottom. That said, ... markets don't just recover right away after the kind of bottom we would need to put in to turn the corner .. I mean look at Japan, they're market hasn't recovered the highs from the 1990's since ... ever ... they still haven't recovered in 2020 to their market highs. I remember watching old and silver put in a bottom in the 1990's and it literally took a decade ... There will be more than enough time to spend cash for physical gold/silver at great prices if the economy crashes ..
  15. I've been buying PM's since the 1990's ..
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