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*Official* Silver/Gold thread

Projectjunkie said:
I've drug 10 tons of scrap steel across the scales this week, that part of my "portfolio" is up 4x:flipoff2:
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hauled in some iron too
I ain't selling my copper and aluminum
figure that they're good stores of wealth without transaction fees until you actually do need the money and sell it off
might even set up an oil burner to compact the shit into ingots over the winter when the waste heat is beneficial
 
[486] said:
hauled in some iron too
I ain't selling my copper and aluminum
figure that they're good stores of wealth without transaction fees until you actually do need the money and sell it off
might even set up an oil burner to compact the shit into ingots over the winter when the waste heat is beneficial
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Copper is floating a touch under all time highs after ten years of about half of that....

Imo, now's not the time to start stripping usable wire, but cash in for $4 paper money and buy something else useful, it'd suck if we got another recession and another 10 years of $2.50 copper, that's my .02

My aluminium and lead is all byproduct of junking cars, when I've got 20 alloy wheels and 20 batteries, it's time to haul them in, I call around for the best price, but I don't wait for the market to go up
 
[486] said:
silver prices been dipping pretty far, lowest all year
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The last time it hit a low was November 2008. Under $13/ounce. It peaked around $50/ounce. Those days coming back would have me selling my silver. AT $50/ounce I have some to sell. Especially since I bought around this price as a hedge on inflation or whatever it is the preppers say.
 
RunningProblem said:
The last time it hit a low was November 2008. Under $13/ounce. It peaked around $50/ounce. Those days coming back would have me selling my silver. AT $50/ounce I have some to sell. Especially since I bought around this price as a hedge on inflation or whatever it is the preppers say.
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when oil went negative it was like 12 bucks an ounce too
 
MuntCuffin said:
Actual or internet spot price?

Last time I bought, there was a huge disconnect. It was right around the gamestop shit, and it appeared that prices were being manipulated and prices kept artificially low.
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actual
spot price on the internet is the same artificial high that its been for a while, just bought some at 3.30/oz over spot, so the jews got a cut for sure
 
I’m not into silver very much, but my brother said even though the price is down you can’t buy it for that. He said as the price goes down, the premiums go up.
 
so where are people buying that arent getting hosed on the premiums?
 
If you pass a place that says "we buy gold!!!!!" If they don't sell it, they can at least direct you to who can.

They are an odd bunch. Not as bad as carnies, but definitely unique. And they all talk to each other, so don't piss off your dealer when you find one.
 
WaterH said:
I’m not into silver very much, but my brother said even though the price is down you can’t buy it for that. He said as the price goes down, the premiums go up.
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I'm curious now. I'm gonna see what my guy is selling silver for today. Spot it cheap enough that I'd like to add a few more ounces anyway.
 
Can someone smarter than I explain spot vs artificial spot or whatever ot is?
 
ROCKTACO said:
Can someone smarter than I explain spot vs artificial spot or whatever ot is?
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Supposedly big finance is heavily involved with paper silver. Paper silver is nothing but "shares of silver" without taking possession of physical silver.
Spot is supposedly being kept artificially low, and certainly doesn't reflect supply/demand, to keep the paper silver solvent. Rumor is they are or were shorting the fuck out of it. Which is fine and dandy, until you lose your ass and have to come up with a fuckoad of silver, but can't because its all been bought up. Thus the HOLD!!!! mentality. So you have a huge disconnect between what ((they)) say silver is worth and what silver is actually selling for.

How true it is? Dunno. But there is a pretty big discrepancy between spot and actual.
 
ROCKTACO said:
Can someone smarter than I explain spot vs artificial spot or whatever ot is?
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Spot is what the big delars pay for 1000 or 10,000 ounces. Above spot is what the little guy pays. Just like drugs, buy the kilos and sell it in grams.
 
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MuntCuffin said:
Supposedly big finance is heavily involved with paper silver. Paper silver is nothing but "shares of silver" without taking possession of physical silver.
Spot is supposedly being kept artificially low, and certainly doesn't reflect supply/demand, to keep the paper silver solvent. Rumor is they are or were shorting the fuck out of it. Which is fine and dandy, until you lose your ass and have to come up with a fuckoad of silver, but can't because its all been bought up. Thus the HOLD!!!! mentality. So you have a huge disconnect between what ((they)) say silver is worth and what silver is actually selling for.

How true it is? Dunno. But there is a pretty big discrepancy between spot and actual.
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I have heard this for probably10 years(?) now from a friend. I believe him but he will never sell it any way sooo
 
20220714_153358.jpg


I called around today, local premiums were $4-6
Local
Nearby shop was at $4
In reality he gave me 45oz for 1k, so $22.25oz 3.75ish premium, not bad



ROCKTACO said:
Can someone smarter than I explain spot vs artificial spot or whatever ot is?
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Kinda like blue book on a clean Tacoma or old dodge diesel, if it's your truck, you can take a number on a computer screen with a grain of salt, the premium is what it changes hands at
 
MuntCuffin said:
Supposedly big finance is heavily involved with paper silver. Paper silver is nothing but "shares of silver" without taking possession of physical silver.
Spot is supposedly being kept artificially low, and certainly doesn't reflect supply/demand, to keep the paper silver solvent. Rumor is they are or were shorting the fuck out of it. Which is fine and dandy, until you lose your ass and have to come up with a fuckoad of silver, but can't because its all been bought up. Thus the HOLD!!!! mentality. So you have a huge disconnect between what ((they)) say silver is worth and what silver is actually selling for.

How true it is? Dunno. But there is a pretty big discrepancy between spot and actual.
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Fairly accurate. I would add that paper silver (or any commodity) can be un-allocated or allocated. Un-allocated is basically pegged to the spot. The company that sold it to you promises to pay you the current spot when you sell. Of course, if they are out of business, that’s tough. Allocated is supposed to be your paper is representing a quantity of silver sitting in a vault somewhere. In theory, you can sell it (the paper) for the silver or the current spot price. I say “supposed” because most people believe they sell more “allocated paper” than they have silver.

Like MCuffin says, it’s fine until there’s a giant price jump and people want to cash in.
 
2big bronco said:
Silver is what the big delars pay for 1000 or 10,000 ounces. Above spot is what the little guy pays. Just like drugs, buy the kilos and sell it in grams.
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not really, you can buy 1000oz at a time and you'll still be paying 4 bucks over spot
least everywhere I looked
 
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[486] said:
Thanks man, I feel better about paying 21.75 shipped. Just gotta make sure it gets to me instead of disappearing, that'd be a fuckshow.
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Where did you find that?
FWIW I often over pay by a dollar just to get my hands on it, and not fuss with wire transfer, this is a long term play for me, looking for a 10x payout when the dollar goes Weimar
 
Bitcoin ?

Well without the net and things yall have taken for granted thinking they will always be here and the network that bitcoin trades on you wont have but a memory of something you thought had value.

If you dont / cant hold it you dont own it.


Will12785 said:
You have someone you trust who will be willing to trade you bitcoin for metal? And if said metal is made illegal to own still willing to do so?

Do you think that foreign currency will hold value better than the USD in a depression similar to 1930? It wasn't any better last time.

Once you've liquidated your metal to bitcoin do you think people will still be accepting it? Why not just buy bitcoin now?

By your logic i should just stock up on mustard and cigarettes. They dont expire and people consume them (as apposed to hording them).
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IEATRKS84 said:
$22 an oz is basically what i bought for a G like two years ago.

Personally, i dont think physical silver dealers will ever come off that price until shit really gets wild. But god forbid spot jumps to $30 an oz and those fucks will raise their prices no doubt.
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Yeah, I figure my average is 21-22, when it gets back to $50 I'll probably sell 33% just so the sell-off to 39 doesn't sting so much:laughing:
Then I'll let it ride. If it happens to move sideways for a long while, and we're in a recession, I'll probably sell some off to scoop up deals on cool stuff, but the long term plan is to have silver for the moon shot, gold went from $35 to 2200 in 40 years, I expect a similar trend in my lifetime
 
2big bronco said:
Silver is what the big delars pay for 1000 or 10,000 ounces. Above spot is what the little guy pays. Just like drugs, buy the kilos and sell it in grams.
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I don't think big dealers pay spot. There is additional cost associated with the minting, packaging, and shipping, and they get to pay that. The mine gets paid under spot I believe, because of the costs to assay, shipping, security, etc.

Spot is a hypothetical price that you might get paid, or might get to pay, if the situation is exactly right. SilverGoldBull was selling used bars for spot at one point, but you had to pay shipping, and they were definitely used (they would have bought them for well under that. And no, I didn't buy any, I just saw some of the pictures :laughing:).

Plebs will definitely pay well over spot if they're buying new coins. You get closer on large bars. Especially if you're a preferred customer.
 
So, I didn't read much in the thread.

Silver gonna crash this fall because most of the demand is industrial? We know we're going into a recession, maybe a depression, the question is how hard and how fast?

What about gold? Will it remain elevated as crypto has proven to be a less than satisfactory inflation hedge, and the money printers are still going brrr and the official inflation numbers keep climbing?
 
Scott Cee aka 2drx4 said:
Silver gonna crash this fall because most of the demand is industrial? We know we're going into a recession, maybe a depression, the question is how hard and how fast?
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I'm hoping for it to quit being manipulated and jump back up nearer to its normal index against gold being like 10:1 or whatever it historically has been

it'll prolly tank to a couple dollars though
 
When it hit $12 March 2020 I stocked up and ended up paying 15.85 to my door on $7700 worth. Since then it has not gone low enough to trigger me to buy again. Seeing spot at 17 some thing has me itching to spend money though
 
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