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Chinese Silver Buying Just Beginning - Page 2
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Thread: Chinese Silver Buying Just Beginning

  1. #11
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    Jan 2011
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    ccjoe has no clue how premiums work.....Yes he made a great trade but needs to cash in when theres still hype........800,000 of any coin or bullion that the majority are still in great shape is a huge number for something with a collectible premium

  2. #12
    ccjoe is offline Senior Member Site Admin
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    Quote Originally Posted by maplesilverbug View Post
    Question to joe...to WHOM are you going to sell your 100% premium Pandas to?

    NO dealer will will pay double spot so that leaves....schmucks?

    Or a trip to mainland China?
    APMEX will as I called them> 55 a coin NOW---I don't want or need to sell now.

  3. #13
    ccjoe is offline Senior Member Site Admin
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    Quote Originally Posted by ~G~ View Post
    ccjoe has no clue how premiums work.....Yes he made a great trade but needs to cash in when theres still hype........800,000 of any coin or bullion that the majority are still in great shape is a huge number for something with a collectible premium
    APMEX has no clue either G as you are smarter than they are. You were upset that I made fun of you because of your low post count and that you were NOT a newbie. Interesting how your join date is 1/11. http://www.apmex.com/Category/164/Si...11__Prior.aspx
    Someone is lying here>either APMEX offering me double and charging 69.99, Chris for saying join date is 1/11 or G. I think G is lying.

  4. #14
    Join Date
    Jan 2011
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    345

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    Thats my whole point if APMEX is buying at that price.....you should take it......during the great melt and even last year, premiums were destroyed on all coins that didn't have hype....Pandas are beautiful coins and I completely understand why there's such a collectors market....but one day the hype will be gone, thats a guarantee.....I wouldn't sit on a monster box as a silver investor and as a coin/bullion collector you better have a good plan to get out...I really don't know what one you are or if you're a hybrid of both....I would want the most intrinsic value, but at the same time in something I enjoy....Thats why I got rid of my casino rounds and destroyed 90% junk and traded for gold pandas...I lost a little bit of intrinsic value in the trade but I enjoy the Pandas more.

  5. #15
    Join Date
    Dec 2009
    Location
    Chicago
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    4,376

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    Quote Originally Posted by ccjoe View Post
    APMEX has no clue either G as you are smarter than they are. You were upset that I made fun of you because of your low post count and that you were NOT a newbie. Interesting how your join date is 1/11. http://www.apmex.com/Category/164/Si...11__Prior.aspx
    Someone is lying here>either APMEX offering me double and charging 69.99, Chris for saying join date is 1/11 or G. I think G is lying.
    Apmex is paying more than twice the melt value? That is bonkers. I know that with your two years of experience in the market you probably know a lot more than I do, but my advice would be to sell every single one you have and buy back twice as much of whatever you can get your hands on near spot.

    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.

  6. #16
    Join Date
    Apr 2009
    Posts
    233

    Default SLV/GLD as source of metal

    GATA website just had interesting post suggesting that Chinese and others may use GLD SLV as source of metal. They buy large amount of, say, SLV then stand for delivery. Problem is that this then immediately dilutes silver interest of remaining shareholders. SLV has gone from mainly silver to silver with a chunk of cash. So they have to invest that cash in silver. So this only marginally delays the impact on the physical market place. So what happens if SLV cannot buy the metal? IMHO I suspect that in that eventuality they might not redeem shares for silver (I would imagine their prospectus allows them to do this). They might also suspend creation of new shares (if allowed). If any of that happens then we see the shortage start to gather momentum.

  7. #17
    Join Date
    May 2007
    Location
    Atlanta
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    10,577

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    Quote Originally Posted by Mike Phillips View Post
    GATA website just had interesting post suggesting that Chinese and others may use GLD SLV as source of metal. They buy large amount of, say, SLV then stand for delivery. Problem is that this then immediately dilutes silver interest of remaining shareholders. SLV has gone from mainly silver to silver with a chunk of cash. So they have to invest that cash in silver. So this only marginally delays the impact on the physical market place. So what happens if SLV cannot buy the metal? IMHO I suspect that in that eventuality they might not redeem shares for silver (I would imagine their prospectus allows them to do this). They might also suspend creation of new shares (if allowed). If any of that happens then we see the shortage start to gather momentum.
    I don't understand your logic on this one.

    If the Chinese or anyone else buys 100 million shares and then demands delivery, that doesn't dilute "my" shares of SLV. We have 100 million shares removed as well as approximately 97.664 million ounces of Silver with those shares. Everything is still in balance between the number of shares and the amount of Silver per share.

    I don't know what would happen to the over all price of SLV if someone were to go on a buying binge to acquire a large amount of Silver. If it was to take place in a short period of time, I assume SLV would be selling well above the spot price, at least until the buying binge stopped. This is what I believe may very well take place, if/when we actually run into a Silver shortage. With the largest known pile of Silver on Earth, it can't help but be the hottest product out there, unless the conspiracy theorist are correct and that pile isn't really there.

    As far as SLV not allowing Silver to be withdrawn, would more than likely be the equivalent to cutting your own throat, as well as all other ETF products. If they can do it to Silver, than they can do it to any other ETF. With SLV being a small drop in the ETF market, do you really think they would risk killing the entire ETF market over one product?
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  8. #18
    Join Date
    Mar 2009
    Posts
    3,489

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    Quote Originally Posted by maplesilverbug View Post
    Two reminders (for everyone!):

    1) PROFIT is only realsized upon sale, not merely by holding;

    2) NO ONE can predict what the future holds.


    !

    You are going to have to repeat that over and over and .................................

    All forms of self defeating behaviors are unseen and unconscious, which is why their existence is denied.
    Vernon Howard

  9. #19
    Join Date
    Apr 2009
    Posts
    233

    Default

    Val,

    I understand your logic. I may be completely wrong, but I have thought about this for some time. Your assumption is that on the day the big buyer executes his/her buy transaction SLV can immediately acquire the silver representing that purchase. So that when the buyer then sell his shares shortly thereafter, that silver can be delivered to him/her. Sprott has demonstrated that volume silver is hard to buy. So, unless SLV can require a big buyer to wait until it has bought the silver representing the purchase, then the cash component of the fund will rise. If SLV then allows the buyer more or less instantly to take delivery of a basket of silver, the remaining holders will indeed be diluted. I don't now what SLV would do about this situation if it became persistent or large scale. But it is a major issue if SLV were not able to very quickly buy silver in the physical market. Maybe they can, and there will be a line of trucks bearing 1000 oz bars at their doorstep. But my gut tells me that if it were that easy to buy volume silver, the buyer would not have to take recourse of using SLV as the mechanism for delivery.

  10. #20
    Join Date
    Dec 2008
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    Zionot, Squashkenazi
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    11,572

    Exclamation I was thoroughly sold on silver before this most significant of events.

    When I joined this forum, China was in its last days of being a net exporter of silver.
    Now I've heard that China is the worlds largest importer of silver.

    That fact ALONE coupled with the US going from the world's largest creditor to the biggest debtor nation over the past generation,
    makes converting all Federal Reserve debt "savings" accounts of all forms into silver a true 'no brainer'.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

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