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How long does silver need to stay around $12/oz to get premiums to come down?


jmichael99

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1 minute ago, jmichael99 said:

subject says it all.  I want to pick up some more coins but I hate paying these insane premiums

I guess until someone buys all the current priced silver and if they are paying the current price then why would it fall??? 😂 

Decus et tutamen (an ornament and a safeguard)

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How much do you consider are insane premiums?

With the current situation i believe we are in the reset now - the spot prices do not reflect the physical market or demand - do you think the current mess will resolve quickly? Do you expect demand to fall, stay at this level or rise?

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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The $12 is the price being charged by people who don't have any silver and are never going to deliver it to you.  If you want some physical silver you need to look at the prices being charged by people that actually possess silver.

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"How long does silver need to stay around $12/oz to get premiums to come down?"

 

A little past forever... All you folks that were waiting for silver to drop to these levels have screwed yourselves. AISC for mines are around $14.50 do the math...

$15 spot price with a .60 premium was the buy of the century and that opportunity was here for the last 5 years so you should have been buying hand over fist...

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1 hour ago, STONE said:

AISC for mines are around $14.50 do the math..

 

old data, oil is currently under $30 compared to probably

over $40 when that was accurate. energy costs make up

~25% of mining costs. also costs varies from mine to mine.

miners can keep large low cost mines open and still make

a profit on lower prices. also 60% of silver is mined as a

by product, so by volume the average aisc is not a reliable

indicator that mining cannot be sustained shorter term at

current prices.

 

the coronavirus crisis is a special case crisis as it actively

encourages reducing physical contact between people. as

such the delay is likely to be longer.

https://thesilverforum.com/topic/30164-royal-canadian-mint-temporarily-suspends-production/?tab=comments#comment-346189

mints are delaying production due to coronavirus safety

precautions and not due to unavailable silver at the

current prices.

 

HH

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Who said the premiums have to come down? If the vendors were not selling at these premiums then the premiums would not exist, everyone needs to actually make some cash, not just promote useless numbers, apart from certain stocks and gov statistics that is 🤣

Anyone stating the dealers are charging high premiums because they paid the higher price on current stock is talking nonsense as dealers hedge risk off unless their completely crazy! 

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On 20/03/2020 at 17:20, HawkHybrid said:

 

old data, oil is currently under $30 compared to probably

over $40 when that was accurate. energy costs make up

~25% of mining costs. also costs varies from mine to mine.

miners can keep large low cost mines open and still make

a profit on lower prices. also 60% of silver is mined as a

by product, so by volume the average aisc is not a reliable

indicator that mining cannot be sustained shorter term at

current prices. The price of oil just dropped and where I live it takes about 2 months to see the price decrease at the pumps. So the data is valid...

 

the coronavirus crisis is a special case crisis as it actively

encourages reducing physical contact between people. as

such the delay is likely to be longer.

https://thesilverforum.com/topic/30164-royal-canadian-mint-temporarily-suspends-production/?tab=comments#comment-346189

mints are delaying production due to coronavirus safety

precautions and not due to unavailable silver at the

current prices.  The mints may be delaying but the mines will still run. Not sure what that had to do with my quote though...

 

HH

 

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40 minutes ago, STONE said:

The price of oil just dropped and where I live it takes about 2 months to see the price decrease at the pumps. So the data is valid...

 

so oil taking 2 months to register a drop in the price is

normal but silver taking 2 months to register a price

drop is manipulation?

 

HH

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7 hours ago, HawkHybrid said:

 

so oil taking 2 months to register a drop in the price is

normal but silver taking 2 months to register a price

drop is manipulation?

 

HH

You argue with your own posts ? 

😲🤔🤣

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Few weeks to a month or two, I think.

It really depends on how bad you think the financial situation will get, and at the moment it looks like it will be pretty bad.  It's all fun and games at the moment .. stocks took a hit, but the USD is up vs. everything, and people aren't feeling the bite of a recession yet, even people who have been laid off are okay for this moment, but that will change quickly.  Once it all really starts to bite that's when prices will start to drop and premiums will fall, because your neighbor won't just have a for sale sign on his sports car, he'll also be down at the coin shop selling any physical he has to cover the mortgage on the house he can't afford to pay for.  EVERYONE will want cash, and they'll do anything to get it as debt gets destroyed and paper burns.  Basically a replay of 2008/2009, except this time we probably won't get the recovery and will end up with a Depression (capital "D") instead.  That's what I think.

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On 23/03/2020 at 22:41, STONE said:

The mints may be delaying but the mines will still run. 

25% of the supply is already shut down - according do David Morgan, can't reference a link rn - Chile, Peru & more have ordered mines closed

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2 minutes ago, DANIEL999 said:

25% of the supply is already shut down - according do David Morgan, can't reference a link rn - Chile, Peru & more have ordered mines closed

True. Could be they would prefer to leave it in the ground until the price rises.

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On 20/03/2020 at 12:46, sixgun said:

How much do you consider are insane premiums?

With the current situation i believe we are in the reset now - the spot prices do not reflect the physical market or demand - do you think the current mess will resolve quickly? Do you expect demand to fall, stay at this level or rise?

It's crazy to pay these premiums, and anyone who does is losing money. Claiming that there are two different silver prices is a good way to lose money.

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On 20/03/2020 at 12:48, Zhorro said:

The $12 is the price being charged by people who don't have any silver and are never going to deliver it to you.  If you want some physical silver you need to look at the prices being charged by people that actually possess silver.

Premiums are inflated now due to a sudden explosion of demand. It's foolish to pay these premiums.

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6 minutes ago, Bimetallic said:

Premiums are inflated now due to a sudden explosion of demand. It's foolish to pay these premiums.

Yes, in economics, it is the operation of demand and supply.

So, if the spot price is low but the premium is high, then don't buy, but if the spot price is high, and the premium is low, then buy? 

Doesn't it all depend on whether you really want the silver and where you think the price is going to go in the future?

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16 minutes ago, Bimetallic said:

It's crazy to pay these premiums, and anyone who does is losing money. Claiming that there are two different silver prices is a good way to lose money.

There is only one silver price - the price you pay for physical silver. Anything else is the price you pay for a casino chip (i love silver casino rounds).

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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29 minutes ago, sixgun said:

There is only one silver price - the price you pay for physical silver. Anything else is the price you pay for a casino chip (i love silver casino rounds).

I have a 999 gold casino chip with a diamond in it, it's been damaged on purpose so that it can't be cashed in at the casino for it's face value of U.S.$1 million, it was given to me as a gift by the person who owns the restort I started to dive professionally for when I took my holiday from music, he also owns a few casinos for very very high rollers, so he gave all his heads of departments these damaged chips to celebrate having U.S.$1 million valued chips at his casinos, I'm not sure what it weighs, I've never weighed it, but going by the size of it I'd hazard a guess at anywhere between 2 to 3 ounces.

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16 minutes ago, Seth said:

I have a 999 gold casino chip with a diamond in it, it's been damaged on purpose so that it can't be cashed in at the casino for it's face value of U.S.$1 million, it was given to me as a gift by the person who owns the restort I started to dive professionally for when I took my holiday from music, he also owns a few casinos for very very high rollers, so he gave all his heads of departments these damaged chips to celebrate having U.S.$1 million valued chips at his casinos, I'm not sure what it weighs, I've never weighed it, but going by the size of it I'd hazard a guess at anywhere between 2 to 3 ounces.

Nice - i find the silver chips a bit pricey so i'm sure yours would be a tad too much.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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2 minutes ago, sixgun said:

Nice - i find the silver chips a bit pricey so i'm sure yours would be a tad too much.

I didn't pay for it, it was given to me by the owner of the resort I started diving professionally for as a gift to celebrate his casinos being able to issue U.S.$ 1 million chips, he gave hem to all the heads of departments of all the companies he owns.  The guy is mega rich and dodgey, I was getting payed with cheques from ''The Bank of Moscow'' yet was working and based in South East Asia, they where a real PITA to cash, by the time January's cheque had cleared I had already given the bank Febuarary's pay cheque to clear into my bank account, everyone was always 1 month behind on their pay because he had no choice but to use The Bank of Moscow, no other bank would touch his business dealings, not even HSBC.

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On 20/03/2020 at 19:34, jmichael99 said:

subject says it all.  I want to pick up some more coins but I hate paying these insane premiums

Is that based on the assumption that you dont believe Silver will go through at least £20?

There is no doubt that the spot price will head right up to £45. 

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