Silver squeeze

[sixgun]

Due to my very modest holdings i am unbiased and objective when it comes to silver.
HH always loves to smear silver at every touch and turn. He should learn to use gloves when handling precious metals.

[HawkHybrid]

 

On 28/05/2021 at 15:46, Stacktastic said:

I concur. I like Maneco very nice guy, but he earns a living off Youtube
& knows little about some of the subjects he talks about (ie mining). 
Im a year in on this and I know more that he does in some areas.

Good initial source for people though & a useful person to educate the financially illiterate. 
You move on after that, although I like his Sunday live chats, I occasionally watch them. 

 

On 28/05/2021 at 19:47, HerefordBullyun said:

Due TO GLOBAL SILVER SHORTAGE

https://www.zerohedge.com/commodities/us-mint-delays-silver-shipments-due-global-silver-shortage

and zerohedge makes exactly the same claim as maneco.

 

HH

[HawkHybrid]

14 hours ago, Uksilverstackers said:

I seem to recall in the not so distant past the US Mint has halted production of coins in recent years for one reason or another before starting up again.

Guess this year they can blame it on a shortage....

I think I read somewhere that there is some legal requirement that the US Mint can only buy US mined silver, so maybe halting production is part of their Modus Operandi for pricing. 

 

'These “blank” bottlenecks have occurred a few times over the past few years as the U.S. Mint has had to suspend shipments to authorized purchasers due to an inability to keep up with demand. In 2015, the shortage of silver planchets was so severe that the U.S. Mint was unable to produce and deliver American Silver Eagles to Authorized Purchasers for almost the entire month of September.'

https://blog.bgasc.com/why-are-2019-american-silver-eagle-sales-down-at-the-us-mint/

 

the years for bottleneck to supply silver blanks should include 2008/9, 2013, 2015, maybe also 2019.

 

HH

Edited May 29, 2021 by HawkHybrid

[CollectorNo1]

Silver will hit $30..... it will come dow when it hits that price which is natural..but it will find its level above $30..and eventually stay there...once it breaks and holds.. it will go up,slowly but will go up ,who knows how long it will hit $35....$40... and stay there..but it will reach those targets.

I hope it takes sometime and doesn't go higher in a fast rate..because we all know that if it was to go $50 in a month....the greedy b@#tards will dump there silver and it will go back down to under $30.....but such is is life in this market....olivers and Fagans...lol

[OldCoin]

On 28/05/2021 at 21:07, sixgun said:

The #silversqueeze is working.
US Mint admits there is a silver shortage.
Blaming bots for them receiving so much web traffic - the bots are ordering silver coins!

 

Thanks for the link will watch tonight. I heard of this the other day, so now what we've been seeing is confirmed, finally a forthcoming mint being honest about the situation, so now maybe people wont label all dealers as being hype when they tell us the same.

[HawkHybrid]

2 hours ago, sixgun said:

Due to my very modest holdings i am unbiased and objective when it comes to silver.
HH always loves to smear silver at every touch and turn. He should learn to use gloves when handling precious metals.

 

says it all really. people who actually believe what they post will stand behind them with conviction.

shouldn't you already be all in on silver if it is so undervalued and over due a short squeeze, which

will happen soon? or is it a case of not putting your money where your mouth is?

 

HH

Edited May 29, 2021 by HawkHybrid

[OldCoin]

6 minutes ago, HawkHybrid said:

 

says it all really. people who actually believe what they post will stand behind them with conviction.

shouldn't you already be all in on silver if it is so undervalued and over due a short squeeze, which

will happen soon? or is it a case of not putting your money where your mouth is?

 

HH

I think many people believe in principals first, many on this thread are here because they believe in the principals of Silver, for numerous factual reasons.

Therefore, isn't the number of their holdings irrelivant ?, all in or not most men are principal driven, I for one am.

The problem with Silver price is the speculators. Your comment is also speculation !

 

 

[HawkHybrid]

20 minutes ago, OldCoin said:

I think many people believe in principals first

how does principals go against you holding a lot of physical silver because you believe

it is due a sharp rise soon(undervalued, short squeeze etc)?

20 minutes ago, OldCoin said:

Your comment is also speculation !

a believed guaranteed win against all that are evil, how is it immoral to go all in?

 

action speak louder than words.

 

HH

Edited May 30, 2021 by HawkHybrid

[OldCoin]

4 minutes ago, HawkHybrid said:

how does principals go against you holding a lot of physical silver because you believe

it is due a sharp rise soon(undervalued, short squeeze etc)?

a believed guaranteed win against all that are evil, how is it immoral to go all in?

 

HH

Either way I have no problem what anyone's position is, what matters is their reasons.

If you speculate to another man's reasons for not being "all in" then how is that any better than the speculators who fudge this market.

My comment speaks for itself, each has their reasons and I respect these reasons can be personal. The position size is not determined by principals necessarily. (emphasis on necessarily)

[OldCoin]

"guarantees"

Who can say wheter a fair price predicicted market will provail in the short or long term, it would appear things are strengthening though. All in or not it's always wise to be optimistic.

To, by principal believe in silver and even have an all in position, is not any "guarantee" of anything becommuing just in the world, so all in is not always wise even if the market is all set to be freed from manipulation. The world is a screwed up mess and even if by principals we turn it round it will take time. 

Theres a lot of shades of grey not everythings black and white.

Edited May 30, 2021 by OldCoin

[HawkHybrid]

Just now, OldCoin said:

Either way I have no problem what anyone's position is, what matters is their reasons.

you have no problem with everything that @sixgun posts and are in defence of his posts

each time you see me bring up a contradiction.

 

you can't explain why his declared physical silver position contradicts his supposed belief that

silver is much undervalued and due a strong move up soon.

 

21 minutes ago, OldCoin said:

If you speculate to another man's reasons for not being "all in" then how is that any better than the speculators who fudge this market.

and of course you have a problem with my posts each and every time because they highlight

inconsistencies that you can't explain.

 

HH

[OldCoin]

29 minutes ago, HawkHybrid said:

you have no problem with everything that @sixgun posts and are in defence of his posts

each time you see me bring up a contradiction.

 

you can't explain why his declared physical silver position contradicts his supposed belief that

silver is much undervalued and due a strong move up soon.

 

and of course you have a problem with my posts each and every time because they highlight

inconsistencies that you can't explain.

 

HH

Not necessarily but it's fair to defend him against your assumptions, for me it's more defending the principals of the entire movement not only @sixgun whom I believe understands this. Ofcourse it's up to @sixgun to state his reasons if he wishes.

You're an interesting fellow, it's very hard to have a reasonable discussion with you. Youre always baiting for an argument it seems.

My point was made, principals matter more than a number. Speculating to defend ones self in an attack on another mans reasons, is a sign you are on shaky ground.

Everyones reasons will be different so generalisations miss the point on that fact, I was trying to reasonably help you see a bit clearer. As usual you are not listening.

Edited May 30, 2021 by OldCoin

[Roy]

7 hours ago, sixgun said:

Due to my very modest holdings i am unbiased and objective when it comes to silver.

I believe @sixgun's physical position is much improved thanks to his mediterranean diet 😁

Edited May 30, 2021 by Roy

[sixgun]

10 hours ago, HawkHybrid said:

says it all really. people who actually believe what they post will stand behind them with conviction.

shouldn't you already be all in on silver if it is so undervalued and over due a short squeeze, which

will happen soon? or is it a case of not putting your money where your mouth is?

HH

i was joking with you HH.
"Due to my very modest holdings i am unbiased and objective when it comes to silver.
HH always loves to smear silver at every touch and turn. He should learn to use gloves when handling precious metals."

i am NOT unbiased about silver - i feel sure you know i am a silver fruit and nut case. So straight away you should realise i am taking the piss out of myself. The whole post was a joke.
There was a point in time when i was adding gold - i think that lasted about a year b/c i recognised i was so out of line i really needed more gold but now i have slipped back into my old ways.
i have stated a long time ago i held a lot of silver. i have never sold any. i have it vaulted now which i think is best these days. i own over 1/3 tonne of physical silver. i am still looking to add more. 

i know you hold a completely different point of view to me on a number of things and that is fine. i think you are wrong but hey you think i am wrong and that is absolutely fine. Between us we must have some of it right.

[TommyTwoShots]

5 hours ago, sixgun said:

i was joking with you HH.
"Due to my very modest holdings i am unbiased and objective when it comes to silver.
HH always loves to smear silver at every touch and turn. He should learn to use gloves when handling precious metals."

i am NOT unbiased about silver - i feel sure you know i am a silver fruit and nut case. So straight away you should realise i am taking the piss out of myself. The whole post was a joke.
There was a point in time when i was adding gold - i think that lasted about a year b/c i recognised i was so out of line i really needed more gold but now i have slipped back into my old ways.
i have stated a long time ago i held a lot of silver. i have never sold any. i have it vaulted now which i think is best these days. i own over 1/3 tonne of physical silver. i am still looking to add more. 

i know you hold a completely different point of view to me on a number of things and that is fine. i think you are wrong but hey you think i am wrong and that is absolutely fine. Between us we must have some of it right.

Where do you vault that kind of quantity? My safety deposit box costs 30 quid a month!

[HillWalkerDundee]

1 hour ago, TommyTwoShots said:

Where do you vault that kind of quantity? My safety deposit box costs 30 quid a month!

He melts it down into brick size. Have you not noticed his new extension? 🙂

[Arganto]

Nope, I happen to know he keeps it in a wrecked Man-of-war somewhere off the coast of Spain. It's rigged to detonate and sink should anyone board it, with his hoard protected within a cannon-proof safe constructed from an unknown metal of ancient origin.

Edited May 30, 2021 by Liam84
Auto correct spelled the wrong kind of cannon/canon

[LawrenceChard]

On 28/05/2021 at 18:39, Uksilverstackers said:

I see coin/bar dealer businesses that need to move stock to make a profit to stay in business, but when looking at their webpages it mostly says out of stock and yes the items they do have in stock the premiums have increased.

Is that ripping buyers off, or a business trying to stay solvent and keep trading? 
 

No different to other retail shops etc. 

Everyone has a choice to choose to pay the price or not. The retailer needs customers.

To understand things, it makes sense to analyse it into different parts.

First, not all coin/bar dealer businesses are the same.

Some are mainly distributors, and handle almost exclusively new goods. If their customers are happy to buy on the understanding they will have to wait because there are transport and production delays, then these distributors can continue doing business. On the other hand if they have some customers who are not prepared to wait, but must have something now, then it makes sense to increase the price / premium for those items they do have in stock. Wouldn't you as a stacker do the same thing? Is this ripping buyers off?

Then there are more traditional dealers who actually "make a market", principally on previously owned secondary market goods. If buyers are queuing ups, but there anr not many sellers, again the normal strategy is to move buying and selling premiums up slightly. I know this is in the "silver" section, but let me give you an example using (gold) Krugerrands. Assume that in normal time, we buy and 99% and sell at 101%. In a period of high demand, we could sell out in a few hours, and not be able to buy many in, so we move our spreads to buying 100%, selling 102%. If this balances supply and demand, then we can continue trading smoothly.

Then there are small local coin shops. They probably do a mixture of the above, but just on a smaller scale. If they relay on replenishing stock from a bigger distributor or market maker, then they probably just add their normal margin to whatever they get quoted, meanwhile probably making slightly higher offers on itesm coming in over the counter.

I have already touched on this, but then there are also private individuals, stackers, and investors. If they can get higher prices / premiums than normal, they might be tempted to sell some of their holdings, and either buy from a big dealer for future delivery, switch into a different metal, or wait until peak demand subsides.

From the above, it can be seen that there is not much difference between dealers and private individuals when it comes to decisions on pricing, buying or selling.

Going back in time to the global credit banking crisis of 2007/8/9, I remember seeing a Krugerrand sell on ebay for an astonishing 27% premium. What a crazy buyer, and what a lucky, or opportunistic seller.

Lastly, I believe that some, if not all mints, increase their premiums during high demand times, most big distributors certainly do, and shipping oosts increase. 

[sixgun]

2 hours ago, TommyTwoShots said:

Where do you vault that kind of quantity? My safety deposit box costs 30 quid a month!

i have a decent amount vaulted with Kinesis Money - the vaulting is free as part of the system.

The rest i would have to kill you if i told you - you can buy significant commercial vaults. 

[sixgun]

1 hour ago, Liam84 said:

Nope, I happen to know he keeps it in a wrecked Man-of-war somewhere off the coast of Spain. It's rigged to detonate and sink should anyone board it, with his hoard protected within a cannon-proof safe constructed from an unknown metal of ancient origin.

Too much information here.

[stefffana]

2 hours ago, TommyTwoShots said:

Where do you vault that kind of quantity? My safety deposit box costs 30 quid a month!

Have you ever tried a self storage? Two old armchairs, one sofa, two dirty mattresses and some bags of old clothes. If all of these are full of silver, nobody will suspect. And the cost is max £10 per month. In my opinion it is safer and more private than a vault. You can come anytime, bring some, take some without two bodyguards after you. Peace and quiet.

[Arganto]

Sorry @sixgun, it's that case of dark rum you gave me; it makes for good shanty songs and loose tongues...

[Patyq]

3 hours ago, sixgun said:

i have a decent amount vaulted with Kinesis Money - the vaulting is free as part of the system.

I dont wanna sound mean, but:

You dont hold it, you dont own it.

And that the history is laid down with broken promises.

AND I wish you will never be in situation to find out how true those words are - recently I had (and still have) massive problems with regaining control of my propperty (worth far less than 1/3tone of silver) left in someones keep.

Legally I can do nothing and guy is laughing in my face. If I attempt to burn his house, kidnap his son or shoot his knee - im gonna be the one going to jail and he still be owing my property. Lol

 

[OldCoin]

3 hours ago, LawrenceChard said:

To understand things, it makes sense to analyse it into different parts.

First, not all coin/bar dealer businesses are the same.

Some are mainly distributors, and handle almost exclusively new goods. If their customers are happy to buy on the understanding they will have to wait because there are transport and production delays, then these distributors can continue doing business. On the other hand if they have some customers who are not prepared to wait, but must have something now, then it makes sense to increase the price / premium for those items they do have in stock. Wouldn't you as a stacker do the same thing? Is this ripping buyers off?

Then there are more traditional dealers who actually "make a market", principally on previously owned secondary market goods. If buyers are queuing ups, but there anr not many sellers, again the normal strategy is to move buying and selling premiums up slightly. I know this is in the "silver" section, but let me give you an example using (gold) Krugerrands. Assume that in normal time, we buy and 99% and sell at 101%. In a period of high demand, we could sell out in a few hours, and not be able to buy many in, so we move our spreads to buying 100%, selling 102%. If this balances supply and demand, then we can continue trading smoothly.

Then there are small local coin shops. They probably do a mixture of the above, but just on a smaller scale. If they relay on replenishing stock from a bigger distributor or market maker, then they probably just add their normal margin to whatever they get quoted, meanwhile probably making slightly higher offers on itesm coming in over the counter.

I have already touched on this, but then there are also private individuals, stackers, and investors. If they can get higher prices / premiums than normal, they might be tempted to sell some of their holdings, and either buy from a big dealer for future delivery, switch into a different metal, or wait until peak demand subsides.

From the above, it can be seen that there is not much difference between dealers and private individuals when it comes to decisions on pricing, buying or selling.

Going back in time to the global credit banking crisis of 2007/8/9, I remember seeing a Krugerrand sell on ebay for an astonishing 27% premium. What a crazy buyer, and what a lucky, or opportunistic seller.

Lastly, I believe that some, if not all mints, increase their premiums during high demand times, most big distributors certainly do, and shipping oosts increase. 

Increased premiums for in stock items when stock is scarce is not unreasonable IMO however it depends how much. In any case I understand that this is easily determined by what the buyers are comfortable to pay, the competition will be doing the same and the buyers will side with the better price in that particular local market, ofcourse customer service and ease of business make a difference. I happily pay $1 or more extra per oz to get better service, less wait time with a dealer v's one with poor record of customer service. (when you have to enquire if they can update an invoice paid after 2 weeks etc)

The secondary market in Silver has been almost non existent anywhere for the last year or duration of Covid. However some US dealers are paying over spot to get secondary into their inventory.

I think it's boom time for all G&S dealers, the ones I've used in Au seem to have done exceptionally well over the last 10+ years no matter what the market was doing, some have done well with cryptos too even if they have the highest premiums anywhere.

The market is short of product, and I hear rumor that mines and even dealers are holding stock back, which is good and bad I guess, bad if you are buying good if your bought and holding.

I've been lucky to get some Eagles of older years at a very good price s/h last week. Dealers selling new eagles $16 ea more than I paid. (Probably 10 pounds in your money)

[OldCoin]

12 minutes ago, Patyq said:

I dont wanna sound mean, but:

You dont hold it, you dont own it.

And that the history is laid down with broken promises.

AND I wish you will never be in situation to find out how true those words are - recently I had (and still have) massive problems with regaining control of my propperty (worth far less than 1/3tone of silver) left in someones keep.

Legally I can do nothing and guy is laughing in my face. If I attempt to burn his house, kidnap his son or shoot his knee - im gonna be the one going to jail and he still be owing my property. Lol

 

I'll store it free !!! 

I have to agree with this, but I understand there are factors that make having in ones posession difficult.