Silver Monitoring Thread $ (USD) only

[Aknot]

and it just jumped up .20.... I hate this.

[kojak]

My original guess was a pullback to around $25.25-25.80

So bang in the range, hopefully it holds steady for rest of this evening then starts making some gains or consolidates.

[GWL3]

Wow.  Down below $25 right now.  I feel bad for those who bid over $42 for generic buffalo rounds on Ebay with $3.95 shipping!!  Ouch!  By the time they get their rounds they could be more that $20 under water.

[kojak]

I know k-man originally thought the pull-back would be around that $22-23 range.

We will soon find out!

I was looking to offload some of mine at £22.50 which was hit but more at the spike, should of sold some at £22.

I'm a buyer if I have the funds soon at $25 and $22-23 range mind you.

[DarkChameleon]

I just got an incredible offer from bullion exchange, 100 oz silver bars for just $500 over spot, im speachless, cant think of a time ive had such an offer.

Edited August 11, 2020 by DarkChameleon

[KDave]

Look at it go. 

[DarkChameleon]

8 minutes ago, Witcher said:

Am I sensing sarcasm?  That's still about $3000.  I guess $5/oz over spot is better than $10-$15 over.

Slight. I could buy from my lcs for $1 over. The larger the size the smaller the premium it used to be.

[GWL3]

Probably a FOMO who thinks the price will be $50 by mid week.  In the long run, I'm sure they will be fine.   It would just throw their DCA out of wack

 

[GWL3]

10 minutes ago, Witcher said:

I don't want to be a FOMO....  but I think I just threw my DCA out of wack this week. 
I took a gamble...  on some proof coins.  
I figure... not looking at ASE or even generic at these prices so... why not some big dogs?  
It's odd that those kind of coins aren't heavily influenced by the spot as one would think.

I'm not too familiar with proof coins.  I tried to build my stack with ASE, Maple Leafs and Brittanias, with the occasional generic 10 oz bar when I get a flash sale that's spot or very close to it.  I know proofs are more expensive, but have you ever sold any?  Do they hold their value much better than BU ASE's?

[GWL3]

Thx for the lesson on proofs.   I want to get as much silver as I can at the lowest possible prices.  I was thinking about looking into generic rounds to do so, however since prices spiked the past few weeks so did premiums on them.  I don't want to pay $4 to $5 premiums on generics when thats what I was paying on ASE's no that long ago.

I almost pulled the trigger on some Britannias today for $28.80.  The best prices on generics at the time were $29.20.  This would have affected my DCA a little.  I see prices are back up after they reopened. I'll wait until late tonight to see if they come down after the buying frenzy.  If not, I won't be too disappointed.  I expect more pullbacks even during this upward trend. 

[GWL3]

5 minutes ago, Witcher said:

You will want to stay away from graded and proof coins then.  The premiums are ridiculous.  Most experienced stackers say that it is better to go to a local coin shop now instead of these online dealers. During that little dip, I just managed 3 silver ounces.  Only 3 because they were higher premium (not generic) coins. 

I would love to go to my LCS instead of the online dealers, especially after how they treated us in March, when spot was so low.  I live in a small town and my LCS is so tiny.  In fact I didn't even know we had one until I was stopped at a red light last year and I just so happened to turn my head and see the shop.  Due  to the virus, the hours are not stable right now  Very limited selection, but decent prices when they are opened.  Maybe I'll gibe them a call tomorrow.

[Aknot]

16 hours ago, GWL3 said:

 I want to get as much silver as I can at the lowest possible prices.

To mimic @Witcher I concur along with "Collectables" (James Bond, Marvel, Colorized, etc.). I havent gotten into poured silver so I dont know if it is worth it either (regarding cheapest price there is NICE stuff out there) I kind of put that up into the collectable area as a lot of people are serial numbering them and or limit the pours. Not that its a bad thing you just might not be able to get the lowest price possible.

I dont have a LCS I do have a few pawn shops but since I use Paypal that is not an option at this time.

You can also get nice/good deals here on the forums.

Ive noticed the price has started to eeek its way up again.... still hasnt hit my buy point yet...

[DarkChameleon]

21 hours ago, Witcher said:

You will want to stay away from graded and proof coins then.  The premiums are ridiculous.  Most experienced stackers say that it is better to go to a local coin shop now instead of these online dealers. During that little dip, I just managed 3 silver ounces.  Only 3 because they were higher premium (not generic) coins. 

Lcs with relationship makss for better deals...pay anything more then $4 over and your not really friends with the owner, just think you are...lol.

[Kman]

On 11/08/2020 at 12:44, Kman said:

I'm hoping for ~$24 

I predicted $24 which is a rare accurate guess from me

I would definitely not have predicted so quickly back above $27, I thought we would be between $24.85-$26.20 for a while

I did top up my SLV again yesterday which I'm glad I did

It's easy to put money into something watching it go up but it's harder when it's falling, seems counter intuitive but you have to  buy those dips

Edited August 13, 2020 by Kman

[kojak]

So do we think Silver will close the week out on the up or levelled out nicely around the $27-28 mark?

[Kman]

In a bold but no doubt wrong move I just sold my entire SLV which I've been accumulating since July when silver dropped below $27.70, SLV @ 25.70

I was unnerved by the sudden sharp decline, which has now continued.. so maybe I will turn out to be right and get a better place to buy back in

 

[Aknot]

1 minute ago, Kman said:

In a bold but no doubt wrong move I just sold my entire SLV

 

Help a noob out.... What is SLV?

[Kman]

Just now, Aknot said:

Help a noob out.... What is SLV?

SLV is a popular silver etf, way of benefiting from the price of silver without having to hold it physically 

https://www.ishares.com/us/products/239855/ishares-silver-trust-fund

 

[Zhorro]

8 minutes ago, Kman said:

In a bold but no doubt wrong move I just sold my entire SLV which I've been accumulating since July when silver dropped below $27.70, SLV @ 25.70

I was unnerved by the sudden sharp decline, which has now continued.. so maybe I will turn out to be right and get a better place to buy back in

 

Don't prices usually go down sharply on Tuesdays?  In which case tomorrow could be a good buying opportunity?

[HighlandTiger]

16 minutes ago, Kman said:

In a bold but no doubt wrong move I just sold my entire SLV which I've been accumulating since July when silver dropped below $27.70, SLV @ 25.70

I was unnerved by the sudden sharp decline, which has now continued.. so maybe I will turn out to be right and get a better place to buy back in

 

So it's your bloody fault the price has dropped. You've started a selling spree.

 

Sell sell sell......😂

[Aknot]

Keep it up would like to see it drop a bit more since I came a bit late to the party....

[Kman]

9 minutes ago, HighlandTiger said:

So it's your bloody fault the price has dropped. You've started a selling spree.

 

Sell sell sell......😂

Oh it's going to shoot up don't worry

Instead of sticking with my plan and buying the dips I've tried to be too clever here and trade in and out of my entire position 

[sixgun]

This is a big call Andrew.

 

[Kman]

Silver has fallen out of the underlying bullish trend line, maybe it's a blip and can recover

if not I think it's only at best sideways from here or down for the next few months, I'm hoping it stabilises at around $19 and that would be a nice entry back into silver etf 

 

Edited October 28, 2020 by Kman

[HerefordBullyun]

9 minutes ago, Kman said:

Silver has fallen out of the underlying bullish trend line, maybe it's a blip and can recover

if not I think it's only at best sideways from here or down for the next few months, I'm hoping it stabilises at around $19 and that would be a nice entry back into silver etf 

 

I expect to fall until stimulus is announced. Hold tight until at least 3 November. It's a buying opportunity 😉