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Biiiiiiiiig drop in silver.

Discussion in 'Gold Silver (All things Metal)' started by Cigarlover, Jul 6, 2017.



  1. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    Sorry I missed it. I'd buy at that lower level. That was back at 07 levels I think.
     
    OverOver, spinalcracker and searcher like this.
  2. OverOver

    OverOver Silver Member Silver Miner Site Supporter

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    292_0.png I was just looking at this on the Kitco chart. Looks like about a $1.50 drop and
    regained most within a few minutes.
     
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  3. goldielox1

    goldielox1 Silver Miner Seeker

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    A fat finger.
     
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  4. goldielox1

    goldielox1 Silver Miner Seeker

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    Another plunge today. Scooped up a few ozt.
     
  5. Bottom Feeder

    Bottom Feeder Hypophthalmichthys molitrix Gold Chaser Site Supporter

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    Three cheers for the Australian market - that happened when the Sidney Exchange opened last night.

    BF
     
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  6. Professur

    Professur Midas Member Midas Member Site Supporter ++

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    Back that truck up Baby.
     
  7. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

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    Do tell...
    Where are you getting them without paying an absurd premium like the drop never happened? I'm ready to pull the trigger but no reasonable targets in sight. 100s, 10s, singles, junk- nuthin'.
     
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  8. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    You can get a 10 oz bar at spot at jm unless you already got one this year, although I didnt read the disclaimer so not sure if its limited to one per person per year or per order.
     
  9. birddog

    birddog Gold Member Gold Chaser

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    Dammit - why does the AC have to quit now!! $4500 that I could be spending on metal.
     
  10. latemetal

    latemetal Platinum Bling Platinum Bling

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    My fault about the metals market, I bought some 1/10 gold eagles and I found a SILVER dime in a coin machine slot...
     
  11. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

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    Thanks.
    Looks like they have a tube of 10, Sunshine 1 oz. rounds- a 'starter kit'- at spot with free shipping. I scored a tube and padded the order some to make it worthwhile for both of us. Reasonable premiums even. I'll know more in a few days.
    :beer:
     
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  12. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    bUY A FAN INSTEAD. a LOT CHEAPER. :)
     
  13. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    Oops! Shut it down! The Goy know!
     
  14. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    Is that your only 10 oz at spot purchase with them? I did one last year, just wondering if they will let me do another this year. :)
     
  15. birddog

    birddog Gold Member Gold Chaser

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    Already got fans in all the windows. House is over 90....
     
  16. Bottom Feeder

    Bottom Feeder Hypophthalmichthys molitrix Gold Chaser Site Supporter

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    Dang. Went to the LCS to pick up another 100 oz bar and all they had was one Apmex bar — I was looking for an Engelhard. No interesting ten ouncers either. So I picked up a few ¼ oz maples instead.

    BF
     
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  17. goldielox1

    goldielox1 Silver Miner Seeker

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    Someone had generic rounds for I believe .59 over. Not the best but not absurd either. Nuthin on egay of course. They only have deals when spot skyrockets.
     
  18. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    That JMB deal is the best deal out there for somebody to get silver at the lowest price possible.
     
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  19. goldielox1

    goldielox1 Silver Miner Seeker

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    Agreed, unless egay offers a special that includes bux, referral rebate, and pay with cashback CC.
     
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  20. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yeah that is a good point. I have not seen any ebay deals as of late but I was not looking very closely. I was doing more selling (flipping for short-term profit) than buying on ebay during this week.
     
  21. southfork

    southfork Mother Lode Found Mother Lode

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    Got Sunshine rounds yesterday at 16 at the coin show, LCS today sold me a few engelhards at 1.00 at 90% halves at 11.50 x, mixture of barbers, walkers, franklins and some bu kennedys. Some guys at coin show wanted 2/3 over melt for generic, a guy told me most of the big bullion dealers packed up and left after the crash.
     
  22. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Summer FUN show???
     
  23. southfork

    southfork Mother Lode Found Mother Lode

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    \Yep, thursday, friday and today
     
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  24. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I have never been to a FUN show but if I decide to go to a FUN show, it will be the January FUN show. I heard, from other dealers who went to both, that it is much bigger than the Summer FUN show.
     
  25. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I saw it but I thought that my Kitco Kast was not working properly when I saw spot under $15 when I blinked. When I checked the kitco silver page, I saw that it reached as low as $14.27 before it went back up.
     
  26. southfork

    southfork Mother Lode Found Mother Lode

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    It is, over a 1k dealers at the Jan show, I think this is the last summer show I will attend, seems over the years there are less and less dealers, only reason i went yesterday was I had a business dinner with old friend so I spent the day at the show. Saw a very small handfull of 70s art bars and the dealers were very proud of them wanting way more than worth to me, one guy had a few dozen engelhards wanted 230 each, saw around 7 one ounce ebars 4 over melt, propsectors were going for 20 each and none willing to negotiate the price on them.
     
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  27. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    WOW!!!! The January FUN show is huge with over 1000 dealers. Yeah I will go to that show but I do now know what year but I will go if it is either Tampa or Orlando). The largest show that I went to was the ANA Spring National Money show when it was held in Atlanta, GA in late February/early March of 2014. I think that particular show had about 600 dealers and APMEX and some other major online dealers were there.

    As for the prices that you saw at the show, I am guessing that they probably bought the engelhards and Engelhard prospectors before silver took a dive to the $15's range and probably did not have much room to move down on the price. I suspected the large dealers knew that and left the show knowing that they could not sell at these current spot prices relative to what they paid for them before the move down to the $15's range. As for the '70's silver art bars.......more dealers are pricing them at ebay premiums but are probably are not going to move them at those prices because the crowd of potential buyers (mainly collectors) to buy them at those collector prices is very small compared to the potential pool of buyers (collectors) on ebay. If Jim and Carrie were at this show, then they are an exception and they will always sell bars at the premiums they are asking for because they are well known when it comes to '70's silver art bars and they are well respected IMO.
     
  28. goldielox1

    goldielox1 Silver Miner Seeker

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    Why? Aren't these "big" guys hedged?
     
  29. goldielox1

    goldielox1 Silver Miner Seeker

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    Or are they pulling a Tulvang and leaving the world of dealing and entering the world of speculating on prices?
     
  30. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

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    Yes, first spot purchase from JM but not my first purchase from them. Just never noticed the deal before.

    If you're ready to pounce on more AG there's only one way to find out if you can do another at-spot purchase. Try it. Can't imagine they'd whack your pee-pee too hard if you're ineligible.

    All went well with the JM order. Timely. Well packaged. Reasonable premiums. All good.
     
  31. Argent Dragon

    Argent Dragon Site Support Site Mgr Site Supporter

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    Doldrums of summer, I suppose but we're back over $17........so for anyone who missed it, this 'DIP' is over.
     
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  32. Weatherman

    Weatherman In GIM since 2006 Gold Chaser Site Supporter

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    Maybe not "over" yet. I continue to hope for a bankster dump in the next two weeks to discourage buyers from taking delivery of the September contracts. The open interest in COMEX September silver is 94K. The banksters have only two to three weeks to drop that open interest to a small number that they can manage. After the first week of September, silver could have clear sailing to much higher prices until the end of November when the banksters must discourage taking delivery again. I plan to buy to my max late next week, but YMMV so DYODD.
     
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  33. goldielox1

    goldielox1 Silver Miner Seeker

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