GoldStandardPartyUK

It's broken through the trend line of the wedge. I think this means it's not a wedge, it's a box. I'll stop thinking about silver in a wedge, I suspect it's just better to talk about the support levels silver has over the last twelve months from the previous bottoms. 

I'd consider depending on price

And some say, to this day, he's out there right now, making life difficult for some poor shop keeper 

22 minutes ago, Richiesilver said:

Queens beast completers for £63.49 https://www.silvertrader.uk/product/2021-queens-beasts-completer-2oz-silver-bullion-coin/

People buying them off the sales threads for £68 😅

Thanks I got some

Isn't there a test he could do on his new bar for purity? Wouldn't that assure the buyer? 

I work for a bank and seeing how they manage risk gave me little confidence they would handle any crisis correctly, the internal talk of cyclical investment and managing counterparty risk led me to believe central banks would implement policies in the opposite direction to what would be needed, they're worse than useless. 

My views were confirmed by the Sept 2019 repo market crash, since then their over reaction to covid, reckless borrowing, their lack of reaction to actual crises such rise of maoism, socialism and culture war. All this plus historically low GSR basically this is a once in a hundred generations opportunity for silver. 

Is not a hobby. Did Noah have a hobby building his ark? 

I stand corrected on the size of the comex bars. Let me check my understanding.... the reason there is any premium at all is because the buyers' focus on 1oz 999 shiny. For different types of silver, you find yourself in different markets and currently everyone wants 999 1oz shiny, which pushed up the % cost over spot. 

The other kinds of silver have no %cost over spot. If you think you have found a gap in the coin market then buy britannias but if you believe in the case for *silver* itself the  surely you should want to obtain ugly silver at no premium 

Long live the dented spoons! 

#silverqueeze skeptic here

Question

What's the significance of the timing of the price bounce and this 38000 undercount? 

What's the exact weight? 

I do see this as a test of my theses. I've had a view for several months that silver is in a box pattern, and moves within the box are permitted and to buy the dips. There's possibility of a wedge, but that's very hard to judge as this week broke though the wedge line, but not the box line. 

So I'm not worried, it's bending the trend not broken the trend. 

My analysis on today's price action

Spot is calculated based on enormous 400oz bricks with no numismatic value. Stackers are in competition for the bullion you're probably referring to.... shiny 999 1oz coins. If you buy other kinds of silver the reddit apes don't know about yet you'll find it near spot even on eBay. Spoons, plate, pre47 50% coins etc. 

Welcome as a member

I found out after I got my membership about this page which I think is great, it's the forum's automated gold price research tool

www.thesilverforum.com/compare/?addShipping=1

My view is silver has been in a wedge since August 2020, which closes August 2022. I have excluded the Feb 2021 spike because I feel the hype around #silverqueeze caused a spike that doesn't add information about timing.

In a wedge the upward forces are in conflict with whatever is pressing down, the fact it is a wedge not a box means we can predict the end of the current pattern, and gives us a channel to trade in. I'd suggest today's price is at the bottom of the current pattern and a good buying opportunity. The longer this wedge lasts the more risky, with greater chance of a breakout up or down. 

I suppose it depends if it sells well  😅😂😂😂

By my count 2020 onward the following countries are going through hyper inflation: 

Lebanon, Cuba, Venezuela, South Africa. 

They say in hyper inflation gold leads silver in timing of the increase but silver jumps bigger. So the ideal would be to somehow have foreknowledge of the timings then you could time it right and trade out of gold into silver, but in reality the costs of selling gold and the premiums of buying silver during the panic would make that unpractical in my circumstances for me. 

I'd like to learn more about how silver does in those modern hyper inflationary nations. I wish these silver channels on YouTube would tell that story. 

For me 999 silver lost its appeal when VAT came with Brexit and also the premiums got so high with #silverqueeze hype

But there's no VAT or premiums on 1947 British coins, good for emergencies, it's something I've been buying recently. 

I reject the premise of the question. One can buy silver at spot when buying the right kind. 

999 shiny bullion is the worst

Damaged kilo bars are slightly better

Sterling hallmarked plates/spoons are ideal

Pre 1920 sterling coins are difficult to obtain and suffer from being collectable. 

But the best is 1920-1947. You can obtain this at spot. 

This forum has a buy and sell section. All the best buys I've made in silver were on that sub forum.

I think you can get fleeced on eBay because it's tempting to deviate from your buying strategy and you end up with unsellable stuff/over priced stuff

I keep a close eye on the ungraded section on this forum and I'm an eBay bidder. 

I'm often frustrated by the small sizes of the lots. When I was buying 999 bullion I could buy any quality I liked, but old pre 1947 or pre 1920 coins don't seem to have as large lots for sale. If I wanted a kilo this month I'd be bidding on ebay for 40 different lots, to try and win a dozen of them.

But I do shortcut sometimes when I notice 925 medals or commemorative sets come up for sale.

But generally it is fatiguing to have to bid on so many lots to aquire decent quantities. 

I'd love to hear experienced forum members advice on this. 

What about 46

Can I have 24

It's probably just continuing in the same box pattern it's been in the last 8 months

Some different approaches to making your own silver price target;

1. Take a look at the historic 100+ year gold to silver (GSR) price chart, decide for yourself what is a good ratio, then take price of gold and divide by the ratio. 

2. Take the gold price then divide by the ratio of the weight of all the investment gold which exists to the weight of all the investment silver. 

3. Take Gold price and divide by the ratio of gold being minded to silver being mined

4. Study monetary history to find a date when you think silver price was correct, then simply adjust this price accounting for inflation. e.g. dates I've seen from people who attempt this are 1913 as pre USA Federal Reserve (see USdebtclock.org), or 1944 Bretton Woods, or 1947 UK abandons the silver standard, or 1971 USA abandons bretton woods

6 hours ago, DaKine said:

Well, that was part of my point - this is a runup with the usual "hyper greed" by the bullion dealers going on. Are you really going to buy silver no matter the price? I have some for sale then. My point is that although there is nothing inherently wrong with silver, it just is not that rare and literally tons and tons of it around. The Hype gets on my last nerve.

Agreed the hype gives me a headache. For me it's about the good reasons beyond tinfoil hat conspiracy theories about manipulation. There's the fundamentals of increasing industry demand and shortage of mining supply, like Keith Neumeyer's talking points about gold to silver ratio out of the ground being closer to 8:1 or new mines 6:1.