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nowon brought this re silver

nowon

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If people believe your story about what it is and where it came from... It just might limit the buyers and they may want to assay the chunk. I doubt someone like your local LCS would just happily buy the chunk.
LCS have equipment to verify the metal. It's pretty common and not that expensive.. even I own a PMV.
 

solarion

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The bigger the premium, the faster Silver will drain from the Crimex, and the faster this thing falls apart. They can only keep the game going for so long and this is how it falls apart.
Another .04 tacked onto the silver premium today for a fresh all time high. If anything, the gap between paper promises and physical in hand is accelerating.

+.71 to 5.75 just since Feb 1 when I began tracking it. That's an increase of 14.09% in just 3 months.

To make matters worse for the crooks, crimex registered inventory dropped by 3m ounces today and another 1m was withdrawn entirely. Meanwhile another 2650 contracts(13.25m oz) were sent over to the LBMA to be exchanged for physical. I don't know where critical mass is exactly, but it's only a matter of time, imo, before some of the various industry purchasers get worried about where their next silver fix is going to come from and take steps to secure it ahead of their competitors.

The stage is set for a showdown between manufacturing industry buyers intent on securing the raw materials needed to continue churning out products and bullion banks intent on suppressing prices. When the two collide paper prices must rise quickly. The bullion banks on the wrong side of this thing are going to be facing destruction at that time. In the past JP Morgan has ridden in to save the day by releasing up to 26m ounces of their ill gotten physical silver treasure. Recently they moved a meager 2.4m ounces from eligible to registered...perhaps signaling that they're not going to keep ponzi scheme afloat this time.
 

ZZZZZ

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Finally, we have lift off!

Up a buck and some change.

:2 thumbs up: :2 thumbs up:
 

Jodster

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Up a buck and some change.

:2 thumbs up: :2 thumbs up:
1620318638874.jpeg
 

Dude

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Anybody thinking about selling off some of the stuff you maybe bought from the mint that finally came back in price? Those 2 coin eagle sets in 2012 were $150. Now it looks like I can get my money back...
The 5 piece set in 2011 might be another one...but those are going for double the original mint price, again.
 

nickndfl

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Where is PSLV keeping all the silver? In some dude's garage?
 

pay dirt

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Where is PSLV keeping all the silver? In some dude's garage?
Its held at Ronald McDonalds garage. https://www.sprott.com/investment-strategies/physical-bullion-trusts/pslv-dont-overpay-for-silver/

The Trust's metal will be held in custody by the Royal Canadian Mint, a Federal Crown Corporation of the Government of Canada. There is no levered financial institution between the unitholders and the Trust's physical bullion and no risk of financial loss in the event of a bankruptcy or nationalization of the financial institution.
 

Uglytruth

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Voodoo

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Dude

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It can drop in a matter of minutes. Does not matter to me. Premiums are way too high. Will come back to normal, I believe. Looking for gold deals.
 

savvydon

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It can drop in a matter of minutes. Does not matter to me. Premiums are way too high. Will come back to normal, I believe. Looking for gold deals.
Will the premiums come back by Having the price return toward spot, or will the premiums decrease by having spot move toward the current physical market prices?
 

ZZZZZ

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Will the premiums come back by Having the price return toward spot, or will the premiums decrease by having spot move toward the current physical market prices?

^^^^^^^^^^^
This.
 

nowon

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Wouldnt an ETF like PSLV only issue new shares when they are trading at a premium? A discount would indicate little buying interest.
The message you quoted was referring to adding physical, not shares. For adding shares you are correct, the PSLV prospectus requires new shares to be issued at P/NAV = 1 or above.
 

Dude

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Logically, in my head, as more silver comes online, premiums drop a bit and then silver goes up a bit and so on, until they meet somewhere in the middle, not necessarily right down the middle. I don't think I will ever be able to buy clean eagles at $1.49 over spot from dealers again when it costs $2 from the mint. Too much fiat has been added to the system. Once there's enough silver on the market, the spread will go down. If inflation goes crazy, there may be instances to jump on deals if people need to sell to pay bills or eat. Of course, the market be crazy so who really knows.
 

nowon

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If you're uncomfortable paying high premiums there's always PSLV... that gets you exposure to the silver squeeze while also pulling inventory out of the bullion banks control, 2c
 

Unca Walt

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