PDA

View Full Version : Back at $29.00 even if only for a moment!!



valerb
3rd February 2011, 15:40
Nice to see Silver moving up again. You know what comes after $29 and I'm not talking about $27.

SilverHawk
3rd February 2011, 15:44
Hey Valerb!

Yeah. Looks like we're ready to head on past $30 again.
Looks like today, JPM and HSBC gave their PM commodity traders the day off :)

SilverHawk
3rd February 2011, 15:50
You see those 1/2 ounce rounds on Tulving?

I think I might buy a few. Not from him, cause I don't ever accumulate that much cash ($5000) anymore.

Will probably come in handy when we start using silver to buy food and stuff. Get closer to exact purchase price, if no change is available.

AgSurfer
3rd February 2011, 15:50
Yep, Bernanke opens his mouth and talked of more QE past June really sparked a rally! If any other ME country has progressive riots or violent unrest then we may see tremendous move.

SilverHawk
3rd February 2011, 15:55
Yep, Bernanke opens his mouth and talked of more QE past June really sparked a rally! If any other ME country has progressive riots or violent unrest then we may see tremendous move.

Ah! was 'ol Benny spewing his mouth today?
I'm not listening to CNBC or Bloomberg today. Got burned-out about 2 weeks ago, and have given them both a rest for a while.

What is Truth?
3rd February 2011, 15:56
Come on February rally!

AgSurfer
3rd February 2011, 16:00
He basically hinted that inflation was happening, recovery still slow for next few years untill unemplyment down, and supported QE past June, immediate jump in precious metals, just pisses me off that it means the big banks will still reap huge rewards with continued low interest rate loans, last two years their biggest years yet! 2011 may surpass them! Bastards!

skijake
3rd February 2011, 16:07
Ah! was 'ol Benny spewing his mouth today?
I'm not listening to CNBC or Bloomberg today. Got burned-out about 2 weeks ago, and have given them both a rest for a while.

The Bernank Speaketh,,,,
http://www.bloomberg.com/news/2011-02-03/bernanke-says-faster-employment-gains-needed-to-assure-economic-recovery.html

SilverHawk
3rd February 2011, 16:11
He basically hinted that inflation was happening, recovery still slow for next few years untill unemplyment down, and supported QE past June, immediate jump in precious metals, just pisses me off that it means the big banks will still reap huge rewards with continued low interest rate loans, last two years their biggest years yet! 2011 may surpass them! Bastards!

Let the banks make money. FRN profits. I'm making Silver profits. When the music stops, who do you think will have any money worth buying anything?

The bank I have direct deposit with (one of the big 5) has use of my FRN's for about 24- 48 hours. When I get there I take it all out, except for the bill(s) I need to pay electronically. So they don't make a heck of a lot of profit off my money.

SilverHawk
3rd February 2011, 16:13
The Bernank Speaketh,,,,
http://www.bloomberg.com/news/2011-02-03/bernanke-says-faster-employment-gains-needed-to-assure-economic-recovery.html

Thanks, Skijake!

So how you been? Life treating you good?

SilverHawk
3rd February 2011, 16:17
Ben - “Until we see a sustained period of stronger job creation (http://topics.bloomberg.com/job-creation/), we cannot consider the recovery to be truly established.”

He and the Government need to get on the same page. We came out of the recession over a year ago ! LOL

Steadfast
3rd February 2011, 16:33
Hey, Buy on the dips!

I nailed the bottom todays dip! and I did it in person at my local coin shop...
I bought around 12 noonish, at $28.45 per ounce, plus a $1.50 premium...!

ha ha!

SilverHawk
3rd February 2011, 16:40
Hey, Buy on the dips!

I nailed the bottom todays dip! and I did it in person at my local coin shop...
I bought around 12 noonish, at $28.45 per ounce, plus a $1.50 premium...!

ha ha!

I thought today's low was close to $28 even . . ?

What is Truth?
3rd February 2011, 16:42
Hey, Buy on the dips!

I nailed the bottom todays dip! and I did it in person at my local coin shop...
I bought around 12 noonish, at $28.45 per ounce, plus a $1.50 premium...!

ha ha!


That is about what I paid for 200 ASEs about a month ago. I can smell silver breaking $30 next week.

SilverHawk
3rd February 2011, 16:51
That is about what I paid for 200 ASEs about a month ago. I can smell silver breaking $30 next week.

I'm not "say'in nut'in" about future prices. I jinxed January the last time I called for a big jump at the end of December

valerb
3rd February 2011, 16:51
You see those 1/2 ounce rounds on Tulving?

I think I might buy a few. Not from him, cause I don't ever accumulate that much cash ($5000) anymore.

Will probably come in handy when we start using silver to buy food and stuff. Get closer to exact purchase price, if no change is available.

That's a bad posting by Tulving. It gives the impression that he is selling them for spot + 85 cents, which I can't believe.

He's going to lose some sales until he fixes that.

When you look at his postings for 1/2 ounce of Gold he list the sell price as (spot X .5 + PREMIUM)

I personally think paying the same amount of premium for half as much Silver is nuts. Great for the Seller, but not for the buyer.

It's not just Tulving, everyone seems to be jumping on that bandwagon.

APMEX is charging $1.29 premium for 1/2 ounce and only $1.19 premium for one ounce. Duh, that's $2.58 premium for one ounce of generic Silver, which is 1 cent less that Tulving charges for an ASE, in volume of course and 59 cents more than a Maple!

I can see a slightly higher premium per ounce, as these products are sold in smaller sizes, but this is ridiculous. I see one seller pushing 1/4 ounce bars for $2 premium, which amounts to $8 premium per ounce.

If you can't afford to buy a whole ounce or think you'll need Silver in smaller denomination, buy some 90% dimes and quarters and save yourself a bundle of money. Next thing you know, JP Morgan will be selling these things!!!

SilverHawk
3rd February 2011, 17:17
That's a bad posting by Tulving. It gives the impression that he is selling them for spot + 85 cents, which I can't believe.

He's going to lose some sales until he fixes that.

When you look at his postings for 1/2 ounce of Gold he list the sell price as (spot X .5 + PREMIUM)

I personally think paying the same amount of premium for half as much Silver is nuts. Great for the Seller, but not for the buyer.

It's not just Tulving, everyone seems to be jumping on that bandwagon.

APMEX is charging $1.29 premium for 1/2 ounce and only $1.19 premium for one ounce. Duh, that's $2.58 premium for one ounce of generic Silver, which is 1 cent less that Tulving charges for an ASE, in volume of course and 59 cents more than a Maple!

I can see a slightly higher premium per ounce, as these products are sold in smaller sizes, but this is ridiculous. I see one seller pushing 1/4 ounce bars for $2 premium, which amounts to $8 premium per ounce.

If you can't afford to buy a whole ounce or think you'll need Silver in smaller denomination, buy some 90% dimes and quarters and save yourself a bundle of money. Next thing you know, JP Morgan will be selling these things!!!

Ah ! !
Didn't know that. Just saw them on the front page today, as I was checking out the BUY prices for opened and sealed Monsters. I add that BUY price to the value of my ASE portion of my collection.

So how you been. Sorry I don't stop by as much as before. I try and stay away when silver is dropping, as roger likes to take the spotlight during those periods.

skijake
3rd February 2011, 17:31
Thanks, Skijake!

So how you been? Life treating you good?

Nice to hear from ya Hawk,
Working 7 days a week getting FRN's and trading them in for Silver. Quite the racket.
So far so good! lol

SilverHawk
3rd February 2011, 17:42
Nice to hear from ya Hawk,
Working 7 days a week getting FRN's and trading them in for Silver. Quite the racket.
So far so good! lol

LOL

Gee, do you think you're doing the right thing?

Life is Wonderful for people like us!!!

skijake
3rd February 2011, 18:01
LOL

Gee, do you think you're doing the right thing?

Life is Wonderful for people like us!!!

The louder the Paper Lover's bark the more I know we're on the right track.
http://wwwdelivery.superstock.com/WI/223/1598/PreviewComp/SuperStock_1598R-113180.jpg

valerb
3rd February 2011, 18:06
Fine, thank you.

Keeping watch on the night shift as usual!

SilverHawk
3rd February 2011, 18:09
The louder the Paper Lover's bark the more I know we're on the right track.
http://wwwdelivery.superstock.com/WI/223/1598/PreviewComp/SuperStock_1598R-113180.jpg

You got that right!

SilverHawk
3rd February 2011, 18:10
Fine, thank you.

Keeping watch on the night shift as usual!

Good deal. You're a pillar to this forum.

What is Truth?
3rd February 2011, 18:11
That's a bad posting by Tulving. It gives the impression that he is selling them for spot + 85 cents, which I can't believe.

He's going to lose some sales until he fixes that.

When you look at his postings for 1/2 ounce of Gold he list the sell price as (spot X .5 + PREMIUM)

I personally think paying the same amount of premium for half as much Silver is nuts. Great for the Seller, but not for the buyer.

It's not just Tulving, everyone seems to be jumping on that bandwagon.

APMEX is charging $1.29 premium for 1/2 ounce and only $1.19 premium for one ounce. Duh, that's $2.58 premium for one ounce of generic Silver, which is 1 cent less that Tulving charges for an ASE, in volume of course and 59 cents more than a Maple!

I can see a slightly higher premium per ounce, as these products are sold in smaller sizes, but this is ridiculous. I see one seller pushing 1/4 ounce bars for $2 premium, which amounts to $8 premium per ounce.

If you can't afford to buy a whole ounce or think you'll need Silver in smaller denomination, buy some 90% dimes and quarters and save yourself a bundle of money. Next thing you know, JP Morgan will be selling these things!!!

Until silver gets close to $500 an ounce it is just plain silly to pay that much more for fractional ounces. If people can't afford $29 for an ounce of silver they ought to sort for copper pennies instead.

Matthew Shelley
4th February 2011, 09:40
The louder the Paper Lover's bark the more I know we're on the right track.


Ah yes, but we see in this thread people talking about paying enormous premiums over spot whereas us evil paper traders know how to trade our paper into physical at 1 cent over spot. I guess we're just big dummies who make too much noise.

Matthew Shelley
Commodity Broker

As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

skijake
4th February 2011, 11:28
Ah yes, but we see in this thread people talking about paying enormous premiums over spot whereas us evil paper traders know how to trade our paper into physical at 1 cent over spot. I guess we're just big dummies who make too much noise.

.

Thanks for your words of encouragement.
I certainly would like to be the type financially who could really go through the process as you speak of and determine the validity of it.
I buy in 200- 1000 ounce lots of a finished bullion product that suits my need. I haven't sold an ounce and I've been at it for quite some time. No complaints. While I would love to own a bunch of thousand ounce bars I really would not search them out for purchase.
The premiums that we all must pay are reasonable to receive a finished product. Kudos to ya if you are actually buying {thousand ounce} Silver bars and have them in your possession. You have obviously done very well over the years and retirement should be a slam dunk.
The fraud at the Exchanges will be brought to light in time not much different then the way the Madoff situation finally could be tolerated no more and he was fed to the sharks in hopes of him taking all the fault. It's not working out that way but it's nice to see those in the know putting on a good face.
The charade continues, but for how long?
Go Bears!

Matthew Shelley
4th February 2011, 12:00
Thanks for your words of encouragement.
I certainly would like to be the type financially who could really go through the process as you speak of and determine the validity of it.
I buy in 200- 1000 ounce lots of a finished bullion product that suits my need. I haven't sold an ounce and I've been at it for quite some time. No complaints. While I would love to own a bunch of thousand ounce bars I really would not search them out for purchase.
The premiums that we all must pay are reasonable to receive a finished product. Kudos to ya if you are actually buying {thousand ounce} Silver bars and have them in your possession. You have obviously done very well over the years and retirement should be a slam dunk.
The fraud at the Exchanges will be brought to light in time not much different then the way the Madoff situation finally could be tolerated no more and he was fed to the sharks in hopes of him taking all the fault. It's not working out that way but it's nice to see those in the know putting on a good face.
The charade continues, but for how long?
Go Bears!

The thousand ounce "finished product" bars that you pay such a premium for look exactly like the ones I take delivery of. Anytime you'd like to go through the delivery process to test the validity of it just let me or any other futures broker in the country know and we will facilitate the transaction for you. Just keep in mind that some might not know how or want to deal with an amount less than 5 one-thousand ounce bars.

A puzzle. I keep hearing about the fraud at the Comex exchange from non-participants, but why is it that I, and all the people I work with who would all get smoked financially if what you say is true, don't know anything about it. I would think that if there was going to be a default, that my associates who are physically at the exchange and the depository banks would at least give me a hint that there might be a problem.

It does sound like a fun story though.

Matthew Shelley
Commodity Broker

As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

skijake
4th February 2011, 12:07
Follow the Madoff story for a blueprint on how it will go down.
Us country-hicks like to visualize and I realize others might need written instructions.
No matter Matt, you're fun to spar with. Luck to you Sir.

What is Truth?
4th February 2011, 12:20
"Finished product" premiums are proof that many silver buyers aren't really investing in silver but a product made of silver that they feel will be of greater value above the of the metal itself. How many times do we hear American Silver Eagles are selling for X more than spot on eBay? But ugly silver scratched and dented one ounce bars aren't selling so high there. Nothing wrong with that but we shouldn't compare the commodity to a finished product.

SilverHawk
4th February 2011, 12:31
Ah yes, but we see in this thread people talking about paying enormous premiums over spot whereas us evil paper traders know how to trade our paper into physical at 1 cent over spot. I guess we're just big dummies who make too much noise.

Matthew Shelley
Commodity Broker

As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

So you telling us that if we pay a premium of more than 1 cent per ounce, we're idiots?

OK. Well, THIS idiot bought many monster boxes, years ago, with premiums of 80 cents to 1.25.
And as of today, I can unload them all for 1.40 over spot at TULVING.
Damn, I'm dumb.

You fail to see that as the price goes up, and availability goes down, you make more money than what you paid.

And WHY IN THE WORLD would someone want to buy a 90 pound brick of silver, when we will need silver to survive in the near future?

1 ouncers are ALL I recommend, and have recommended my entire life.

skijake
4th February 2011, 12:32
By finished product I was referring to a one ounce coin or 10-100 ounce bar.
I am talking about the bullion but just in easy to manage increments.
I don't get my diesel fuel via oil contracts deliverable at the port of my choosing.
http://cache2.asset-cache.net/xc/88192429.jpg?v=1&c=IWSAsset&k=2&d=77BFBA49EF878921CC759DF4EBAC47D0E221FAFAAFA8427C 2EA7838BCEF43B7C82D00D23BD518EC8E30A760B0D811297
Beep-Beep!
Where do I fill up?

What is Truth?
4th February 2011, 12:45
And WHY IN THE WORLD would someone want to buy a 90 pound brick of silver, when we will need silver to survive in the near future?

1 ouncers are ALL I recommend, and have recommended my entire life.

Right or wrong, you are buying silver for something other than as an investment. Not eveyone who buys silver thinks like you. I can't say that I don't lean towards your way of thinking myself. But I consider silver to still be more of an investment than a means of future survival. But, IMO, it doesn't hurt to have silver just in case for both reasons.

SilverHawk
4th February 2011, 14:52
Right or wrong, you are buying silver for something other than as an investment. Not eveyone who buys silver thinks like you. I can't say that I don't lean towards your way of thinking myself. But I consider silver to still be more of an investment than a means of future survival. But, IMO, it doesn't hurt to have silver just in case for both reasons.

Yeah, and when the worse case scenario happens, you're screwed.

Matthew Shelley
4th February 2011, 15:06
Yeah, and when the worse case scenario happens, you're screwed.

In the worst case scenario, if you depend on any food or products that come from more than ten miles away you're screwed. And it might be a little tricky to get your neighbors to give up their food for your silver coins.

Steadfast
4th February 2011, 15:19
Yeah, and when the worse case scenario happens, you're screwed.
You are right on!
That's why i traded off my big bars for much smaller ones...

What is Truth?
4th February 2011, 19:49
In the worst case scenario, if you depend on any food or products that come from more than ten miles away you're screwed. And it might be a little tricky to get your neighbors to give up their food for your silver coins.

My surprise when I first got into silver was how the worst case scenario was all that most of the more vocal silver holders ever planned for. It is a whole other mind-set than any other investment I ever been associated with. Greed may get many people to buy silver, but it is fear that gets them to take it with them to their graves.

SilverHawk
4th February 2011, 19:54
In the worst case scenario, if you depend on any food or products that come from more than ten miles away you're screwed. And it might be a little tricky to get your neighbors to give up their food for your silver coins.

LOL. Yep!

Got that covered, already. I'll give you a hint... I don't live in Chicago OR in or around a major city.

SilverHawk
4th February 2011, 19:56
Just remember this. It's a fool who says "That can never happen in THIS country"

THIS pig built his house out of brick.

Matthew Shelley
4th February 2011, 20:18
LOL. Yep!
Got that covered, already. I'll give you a hint... I don't live in Chicago OR in or around a major city.

Unfortunately, I can't drive, so I am trapped in a city with good public transportation.

Matt

valerb
5th February 2011, 01:51
You are right on!
That's why i traded off my big bars for much smaller ones...

I did the same thing for all one ounce rounds. Well almost, I do have 1,400 ounces in an IRA account consisting of 100 ounce bars and 10 ounce bars, but that would be too much of a hassle to swap out.

If I can't make do with all my one ounce rounds and that bag of 40%, the rest won't matter anyway. Having enough food is not my problem, it's having enough people to protect that food! That and a fire proof bunker. I guess you can't have everything!

crashjp
5th February 2011, 02:23
Unfortunately, I can't drive, so I am trapped in a city with good public transportation.

Matt

Very liberal use of the word good id say.

SilverHawk
14th February 2011, 19:11
In the worst case scenario, if you depend on any food or products that come from more than ten miles away you're screwed. And it might be a little tricky to get your neighbors to give up their food for your silver coins.

OK, so then what will you use? I believe that back in the days before worthless fiat paper, when you found a treasure chest, silver could be found inside. That kinda makes me wonder if silver has barter value...

What is Truth?
14th February 2011, 20:17
Silver closed over $30.50 today. I'm happy with that, but I don't expect as much out of silver than some or even most people here do. People say look at the run up we recently had. And they are absolutely correct. I think we will see more of them. But no investment is going to keep going at the pace that silver did in late 2010 forever without a break. Having said that, I look for a very good second half of February for silver.

Matthew Shelley
15th February 2011, 09:43
OK, so then what will you use? I believe that back in the days before worthless fiat paper, when you found a treasure chest, silver could be found inside. That kinda makes me wonder if silver has barter value...

There are some new inventions that just came out. They are called water, tools, labor, different foods, seeds, fertilizer. I think there are some more, but I'll have to look it up.

ccjoe
15th February 2011, 10:13
There are some new inventions that just came out. They are called water, tools, labor, different foods, seeds, fertilizer. I think there are some more, but I'll have to look it up.

Tell Santelli I liked his fight with leebsman today. It was great Matt!
I would pay to see them go at it in person.