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Reddit Investors Piling Into Silver Drive Up Prices a Second Day

CrimsonGuardJay

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Well, there is a lot of physical in private hands. But how many are going to sell at $50 today? The last run to $48 (?) probably flushed out most of those who would sell at that price. I didn't sell. I was seriously mesmerized about how high it might go.

Remember the time when palladium exploded because a car company decided it needed a stockpile against uncertainty? An interesting question is whether the silver consumers make a similar decision, especially where the cost of silver is not a big factor in their bill of materials.
im watching this with great interest... if they manage to run physical silver to $100 an ounce, i will liquidate 20% of my physical holdings.
 

Irons

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All gone except the oddball expensive crap no one wants.

zzsilverJM.jpg
 

GOLDBRIX

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if people are willing to pay 40$ a ounce for physical...........paper buyers will start taking delivery and converting it to retail silver.........very simple

the paper market only works as long as you swap paper for paper........when someone wants the real stuff that is promised by the paper it will balance very quickly....it usually takes a 30day or more set for paper to start demanding delivery of physical
It depends on whose paper you hold. SLV ( I was an investor at the initial open) Unless you are a Recognized Partner no matter how many shares you own you get fiat back on liquidation. ( Why I got out. No Physical unless they recognize you as a partner)
 

solarion

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1612171272205.png


Nice jump on that ticker. GSR = 62.16 ...dropping like a rock.
 

GOLDBRIX

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spinalcracker

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Where can you still buy silver? Several dealers, such as Silver Gold Bull, Golden State Mint, Bullion Exchanges are still showing inventory of many silver products and accepting orders. Many dealers are still taking orders via eBay.


American Silver Eagles
2020 American Silver Eagles - Silver Gold Bull - $34.99 per coin
2021 American Silver Eagles - Bullion Exchanges - $35.70 per coin
Generic Silver
1 oz Silver Rounds - Silver Gold Bull - $32.42 per round
1 oz Buffalo Rounds - Golden State Mint - $31.71 per round
10 oz Silver Bars - Golden State Mint - $300.19 per bar
10 oz Silver Bars - Silver Gold Bull - $335.45 per bar
100 oz Silver Bars - Golden State Mint - $2939 per bar
Junk Silver
$10 Face Value 90% Silver - Silver Gold Bull - $229.98 per bag
 

GOLDBRIX

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Golly, I wonder why so many members are on the board already today ? ( 340 members)
 

ds_mustang

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I don't trust a metals run led by silver. It's a speculative move, not a fundamental move without gold. But I guess gold did move first hitting a new high last year. But if this move is to have legs we need gold to move up again to new highs before silver gets too crazy.

The gold/silver ratio has room to run before it approaches 30 like in 2011. It's come down a long way from the 125 it was at a few months ago.

Show me another new high in gold please. Let's get this metals bull running.
 

<SLV>

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Just got in.. bought pslv and ag. Wish i did this on thursday or friday.
I am going to wait until the open. Need to liquidate an IAU position first.

Logged in... order filled out... waiting for the starting gun...
 

ZZZZZ

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Most of my junior silver mining stocks are up 20-30% in pre-market.

Let the fireworks begin!
 

<SLV>

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I am going to wait until the open. Need to liquidate an IAU position first.

Logged in... order filled out... waiting for the starting gun...
Done. But Fidelity seemed overwhelmed at the open. The trading app was glitchy, so I logged into the website. Timed out a couple times trying to login.

Also got some PSLV for my daughter and my inlaws.
 
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Any guesses as to how long this run up will last? I have no idea. It could be over in 5 days, 5 weeks, or 5 months. I'm not on Reddit - I think I need to get an account to keep an eye on the latest chatter.
 

Buck

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Any guesses as to how long this run up will last?
that all depends on which side capitulates first...

i'm hoping for the underdog to win, i'm expecting the bankers will win, but in the mean time, will be happy if the bankers experience some pain, some real pain
 

gringott

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I don't trust a metals run led by silver. It's a speculative move, not a fundamental move without gold. But I guess gold did move first hitting a new high last year. But if this move is to have legs we need gold to move up again to new highs before silver gets too crazy.

The gold/silver ratio has room to run before it approaches 30 like in 2011. It's come down a long way from the 125 it was at a few months ago.

Show me another new high in gold please. Let's get this metals bull running.
Please keep gold out of the conversation. I am positioned in a certain way to catch the next dip and you could jinx it amigo.
I only buy novelty silver at this point, and one roll of ASE a year to give as birthday and Christmas gifts. I already have the 2021 roll, and one ASE has already been dispensed to the birthday boy. Last year I waited a bit to buy (too high) and then ended up paying more than that as I never caught it lower. I was giving out IOUs lol.
 

Buck

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i bought all the way up and all the way back down and consolidated below 20...it can be done

my hands are bloody from all the falling knives i've caught, but, i've got a complete set, and am now positioned so i can keep taking small gains from retail sales of my own...

not unlike most of you guys

but i'm not planning on spending any profits, i'm more interested in a GSR trade, if it gets there

:summer:
 

<SLV>

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Any guesses as to how long this run up will last? I have no idea. It could be over in 5 days, 5 weeks, or 5 months. I'm not on Reddit - I think I need to get an account to keep an eye on the latest chatter.
Let's put this in perspective. "Wallstreetbets" (Reddit group) started the current short squeeze phenomenon. GME was the primary target, and AMC is a secondary target (along with BB, and others). WSB is being followed by 7.9 MILLION people (was 3.5 last week, and only 7.2 yesterday). However the Silver squeeze threads on Reddit are only being followed by a few thousand (let that sink in). The moves in silver in the last week were caused by a tiny fraction of the GME short-squeeze crowd.

Now... in all fairness, the GME crowd is begging people not to be "distracted" by silver. Even claiming that the hedge funds are long on silver and are baiting the Reddit forums to pile into silver.

There was a solid pop in volume on PSLV at open, but that has tapered to a trickle. Price is holding relatively well. We need to see more people wake up. I am watching the number of subscribers on the Reddit groups /Wallstreetsilver (8,444 today) and /SLVTakeover (3,931 today, was 1,500 on Saturday). I want to see those numbers grow exponentially. It needs to for us to get the required volume. A tweet from Elon would be handy...
 

GOLDBRIX

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Done. But Fidelity seemed overwhelmed at the open. The trading app was glitchy, so I logged into the website. Timed out a couple times trying to login.

Also got some PSLV for my daughter and my inlaws.
Same at TD Ameritrade.
 
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Junius Maltby is live now on Youtoob. 322 watchers at the moment. Currently (10:32 am ET) he is surfing various online bullion dealers to see what is available. One he is looking at right now is temporarily not taking any new orders until 2:30pm today until they catch up. They are saying to e-mail them if you want to sell and they will get back with you.
 
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ds_mustang

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Please keep gold out of the conversation. I am positioned in a certain way to catch the next dip and you could jinx it amigo.
I only buy novelty silver at this point, and one roll of ASE a year to give as birthday and Christmas gifts. I already have the 2021 roll, and one ASE has already been dispensed to the birthday boy. Last year I waited a bit to buy (too high) and then ended up paying more than that as I never caught it lower. I was giving out IOUs lol.
Yeah I'm more focused on gold too. But there are times silver is so dang cheap you gotta get some to sell on the next move up... so you can buy more gold
 

dpong

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Let's put this in perspective. "Wallstreetbets" (Reddit group) started the current short squeeze phenomenon. GME was the primary target, and AMC is a secondary target (along with BB, and others). WSB is being followed by 7.9 MILLION people (was 3.5 last week, and only 7.2 yesterday). However the Silver squeeze threads on Reddit are only being followed by a few thousand (let that sink in). The moves in silver in the last week were caused by a tiny fraction of the GME short-squeeze crowd.

Now... in all fairness, the GME crowd is begging people not to be "distracted" by silver. Even claiming that the hedge funds are long on silver and are baiting the Reddit forums to pile into silver.

There was a solid pop in volume on PSLV at open, but that has tapered to a trickle. Price is holding relatively well. We need to see more people wake up. I am watching the number of subscribers on the Reddit groups /Wallstreetsilver (8,444 today) and /SLVTakeover (3,931 today, was 1,500 on Saturday). I want to see those numbers grow exponentially. It needs to for us to get the required volume. A tweet from Elon would be handy...
Go search #silversqueeze on Twitter. This has gotten away from WSB and has started a Twitter mania at this point.
 

gringott

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I like that guy.
 

BackwardsEngineeer

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SongSungAU

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34+ .... ouch they are making it painful to jump in now. Never bought from JM are they a good house?
Yes they are a good business. I have purchased from them 5 or 6 times and never a bad experience. Also, I have made purchases from Provident Metals which is a subsidiary of JM Bullion. Always received the product promptly and without any issues.
 

spinalcracker

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from Monument Metals



An Important Update For You!
What happened this weekend and some changes moving forward.

Dear Precious Metals Investor,

What a weekend! Physical precious metals demand, especially silver, shot to the Moon this weekend. Similar to the situation last March when demand spiked, the industry essentially sold out of most live product overnight. Expect to see significant delays, higher premiums and limited availability for the time being.

Why did this happen? This increased level of demand has been building for weeks, but the additional interest in physical silver from r/wallstreetbets along with general uncertainty about world financial markets has led to a breakout in precious metals demand.

While these may be unprecedented times, Monument Metals stands ready to serve the precious metals market. It's likely that the next few months will be challenging, but you can expect the same level of transparency and dedication that you have come to expect from us.

To that point, I would like to announce a few changes to our service that I believe are essential to continue to serve you in the best way possible. I ask that everyone take a moment to read the points below:


1. Until further notice, all orders will be shipped via FedEx/UPS/UPS SurePost with the exception of orders going to PO Boxes. The USPS has never fully recovered from holiday delays (especially in our area) and is unable to stick to their own estimates for delivery dates. We find this unacceptable as I'm sure you do also. Our apologies to anyone who has had to deal with increased delivery times.

2. Due to shipping smaller orders via FedEx/UPS/UPS SurePost, we must change our free shipping threshold on orders of $99 or more to $199 or more to compensate for the upgrade to FedEx/UPS/UPS SurePost for small orders. Also, the cost of shipping for these orders is going up from $5.95 to $7.99. While we don't like having to do this, FedEx/UPS costs 3x what USPS does for some smaller orders. We believe that although this is inconvenient for smaller orders, this is important for continued excellence of our service to you and should be a much better experience for you. We hope that the USPS can get it together and keep this as a temporary change to our service.

3. WE WILL NOT RESTRICT THE ABILITY TO PLACE SMALLER ORDERS, THE PRECIOUS METALS MARKET IS FOR EVERYONE!

4. Due to the weekend surge, all current orders will require an additional 5-10 business days to ship after your payment clears. We will be working hard to beat this time frame, but the demand surge from over the weekend is sure to push back delivery times and production schedules industry wide.

5. Although we will not disable the ability to pay with "Check/Money Order", we STRONGLY recommend that you consider using our "eCheck" payment method instead. USPS has been experiencing significant delays to first class/letter mail. This has put many orders in jeopardy due to non-payment or late arrival of payment. When using eCheck, you receive the best possible pricing and your payment starts clearing immediately. This payment option is available to all customers, even first timers, for orders of $20k or less. Save money on that stamp!

6. Please be patient with our support staff. We received more orders in the last 24 hours than we did in the past 3 weeks. We are doing the best we can to answer every question. We encourage you to send emails rather than phone calls, as I expect our phones will be ringing off the hook. Don't worry, we WILL get you the products you ordered, even if there is a delay.

7. Moving forward, precious metals supply will be tight. I suggest everyone make a habit of visiting our "In Stock" and "Deals" pages on a regular basis. When supply gets tight like this, the "In Stock" page will show you what is available for sale or pre-order in each precious metals category. The "Deals" page will be loaded as frequently as possible with the best precious metals deals we can find on the market. We will be working diligently to find precious metals products to sell and will update these pages regularly.

8. All orders with Monument Metals remain locked in. You will receive your metals as quickly as we can possibly get them to you. Thanks in advance for your patience!


Thank you for your business and continued patience in this trying market. Keep stacking!

Best Regards,

Jonathan Swyers
Founder & CEO | Monument Metals
 

SongSungAU

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This guy makes a good point. The media is pumping these stories about silver. Why?

Media Launches Coordinated Fake News To STOP GameStop Rebellion, Federal Regulator SHUT DOWN Trading (23 min 29 sec):​
Published on Feb 1, 2021 by Timcast​
 

ds_mustang

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I've heard the #SilverSqueeze song many times before over the last 20 years. I've seen the retail coin/bar markets be cleaned out a few times as some sort of fear-wave washes over those of us that are silver-aware. I've listened to the usual suspects in the silver business breathlessly tell me how the demand is like nothing they've seen before and there is almost no physical left. I'm at the point now where it's all becoming very deja vu. The excitement is fun, but is it going to go anywhere? Don't tell me it's coming, show me the money. I'm already convinced, I'm already positioned--SHOW ME THE MONEY. Maybe crypto has spoiled me but I want results.

Times like this are not the time to be buying. You buy when price is low, boring, and nobody is paying attention. Times like this are not the time to be selling either--you don't want to be selling early on the cusp of a big move. So right now there's nothing to actually do! One day our financial system will stumble and gold/silver will have their day. But in the meanwhile the false alarms are MANY.

So don't get my hopes up. Show me the money.