Silver squeeze

[sixgun]

2 hours ago, Patyq said:

I don't wanna sound mean, but:

You don't hold it, you don't own it.

Well that is the risk i take. Your situation sounds a bit different to mine.

i move across borders - moving silver is not easy since Brexit. You could end up paying taxes or getting it confiscated. With some of my silver in Kinesis i can move it without moving it. i can get it delivered wherever i want and i can sell it at the click of a mouse or spend it on a card. It makes sense to keep some of my silver in this format. i've worked with the people running this for several years - i have personally chatted to the CEO. i have bought - sold and taken the cash more than once. i agree holding it is good but for ALL your metal i don't think it is necessarily the best.

Edited May 30, 2021 by sixgun

[JB3]

1 hour ago, Patyq said:

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 love both how that is presented as perhaps being unjust, and how it ends with 'LOL'.

 

[LawrenceChard]

Silver Bullion Coin Supply Update

We went to buy more 2021 silver Britannias today, only to be told:

"2021 Silver Britannias - Major Supply Issues at the (Royal) Mint

From xxx - 'The mint are having major production issues on silver at the moment so we are temporarily halting silver Britannia orders until we get some clear guidance on when more coins will be available. I will reach out to you again once we can offer these coins.'"

 

and 

from yyy also not able to take orders on silver brits, citing the same issues as above.

 

You are probably all aware there have been supply problems for the last year or more with supply of silver bullion coins.

We recently thought it was getting better, but the above news sank our hearts slightly.

 

I shared that information with a number journalists, asking if they know any more, and whether this was just at the British Royal Mint, or a worldife problem. One answer included:

 

"In a message released Friday, May 28, we made reference to a global shortage of silver. In more precise terms, the silver shortage being experienced by the United States Mint pertains only to the supply of silver blanks among suppliers to the U.S. Mint.

Please see the updated message below reflecting this clarification.

The United States Mint is committed to providing the best possible online experience to its customers. The Mint is being impacted by silver blank shortages among its suppliers. The demand for many of our bullion and numismatic products is at record heights and increasingly outpacing the supply of silver blanks available through our suppliers. This level of demand is felt most acutely by the Mint during the initial product release of numismatic items. Most recently in the pre-order window for 2021 Morgan Silver Dollars with Carson City privy mark (21XC) and New Orleans privy mark (21XD), the extraordinary volume of web traffic caused significant numbers of Mint customers to experience website anomalies that resulted in their inability to complete transactions."

 

We don't know what the main problem is at the British Royal Mint, but we did get similar responses about a month ago, but we were then able to buy a few days later. (I think we are still waiting for these to arrive).

If I get to hear any more, I will relay it, but meanwhile it sounds like things are not getting back to normal as quickly as I thought.

 

[CollectorNo1]

Very interesting....I know a bullion dealer who has 300 2021 Britannia's in stock...and the same amount of ASE's!!!! I also see Americans on ebay selling ASE's between $30-38 ....not that I would purchase them  as the postage is high and does make them very expensive plus the import tax and duties from the USA to the UK...just doesn't make any sense buying them..but from what I'm seeing there isn't much of a problem purchasing these bullion coins....of course if you are looking to buy 100 oz's plus..then yes! Might be a problem..but buying 5,10,20 etc...can be easily acquired.....

 

Regards.

 

[Patyq]

There are couple of videos on WSS youtube channel of a guy actually taking delivery of 5000oz from Comex (private person)

Quite impressive effort he went through.

Turns out that there might be no eagles or leafes @dealers, but if you can fish out $150k out of your pocket, you can have 150kg dropped at your doorstep by FedEx at about 2% above spot.

Very interesting that silver squeeze move. Im aware that you can do miracles on paper and there is 500x more paper than physical silver but also apes been draining comex for 3 months now and only drained ~50m ounces/10% of official holdings.

And then everyone yelling about Comex price being manipulated and having nothing to do with physical price on one hand and then getting exited when price on that comex goes $0.30 up...

Doesnt make any sense.

Only way I can see silver price exploding is by another delusion of crowds and massive FOMO kicking in.

[Spark268]

13 hours ago, Patyq said:

Only way I can see silver price exploding is by another delusion of crowds and massive FOMO kicking in.

its a bit late for FOMO, everywhere is sold out even at the current premiums, which only seem to be going in one direction 😕

there's about 2 months worth of silver left in the comex, after this goes, it will have to be the price that prizes silver out of the ETFs / and or JPM's 1bln stash.

Edited June 5, 2021 by Spark268

[Uksilverstackers]

17 hours ago, Patyq said:

Very interesting that silver squeeze move. Im aware that you can do miracles on paper and there is 500x more paper than physical silver but also apes been draining comex for 3 months now and only drained ~50m ounces/10% of official holdings.

Not sure I would believe the “Official Holdings” information especially given the recent LBMA revised holdings of 3,300 Tonnes they didnt have...

LBMA misleads claim of record stocks  

Like Spark268 indicated above, at current rate there is only 2 months left.

Also check out the huge increase in PSLV taking ounces off the market.

Thanks Lawrence for the excellent info at the dealer end.

Interesting times for sure

[Uksilverstackers]

Another observation...

The US Mint changed their recent statement to say it wasnt a Silver Shortage they were experiencing but a silver blank shortage.

Therefore, a refining company is probably providing blanks and not just to the US Mint but lot of other suppliers and it is the refiners that need a large amount of silver raw material that have the shortage issue, hence why small pockets of coins are still available as they are running down pre pressed stock. 
 

 

[Spark268]

what happened to the Perth Mint? they were ahead of the curve when they ran out silver 😛

[Captinjack]

1 hour ago, Spark268 said:

what happened to the Perth Mint? they were ahead of the curve when they ran out silver 😛

I heard ( you tube only) ( although they officially tried to refute on said channel)they had over shorted on there so called investment holdings and someone did an audit and found them to be holding millions less than they said they had in the vault,alot like the comex, I think the argument is ongoing with them last I saw

[sixgun]

Wall Street Silver hits the big 100, with 100,000 members - and i remember when it was a handful of Apes.

[Zhorro]

Conundrum:  If there is a silver shortage, why are the mints releasing more and more 2oz, 5oz, 10oz, 1 kilo and 10 kilo silver coins?

[SidS]

22 minutes ago, Zhorro said:

Conundrum:  If there is a silver shortage, why are the mints releasing more and more 2oz, 5oz, 10oz, 1 kilo and 10 kilo silver coins?

And why can I buy second hand on eBay.

I'm not doubting that there are supply chain shortages for new material. But nothing suggests to me there's any shortage in the secondary market. I picked up ten MT thalers the other day, no problems at all.

[sixgun]

58 minutes ago, Zhorro said:

Conundrum:  If there is a silver shortage, why are the mints releasing more and more 2oz, 5oz, 10oz, 1 kilo and 10 kilo silver coins?

Can you buy a bullion American Silver Eagle off the US Mint website? 

https://catalog.usmint.gov/

Can you buy some Royal Mint coins off their website that are not an arm and a leg?
What i can see on the mint sites is highly priced coins. Good business selling these i suspect.

If the mints completely shut up shop then this telegraphs to the whole world that it has hit the fan. But there have been problems. At the US mint they put it down to changing the ASE design - yeah right. Here we see problems at the Austrian mint.

i went to Atkinson's to see what the situation was with monster boxes of Britannias. 

https://atkinsonsbullion.com/silver/silver-coins/2021-silver-coins/2021-uk-britannia-1oz-silver-coin-monster-box-of

i found that uninformative when i could crank up my cart so high it was more than all the available silver in the world.

The mints have got to keep producing sets of coins. The dealers have got to have some coins or else it becomes obvious to everyone looking. The Royal Mint stops producing any coins? A spokesman said we have stopped making coins for the foreseeable future. That isn't going to happen - it is a triple red flag and it isn't going to happen until there is no silver at all.

Edited June 6, 2021 by sixgun

[sixgun]

33 minutes ago, SidS said:

And why can I buy second hand on eBay.

I'm not doubting that there are supply chain shortages for new material. But nothing suggests to me there's any shortage in the secondary market. I picked up ten MT thalers the other day, no problems at all.

There are second hand coins on ebay b/c people are putting them up for sale. There are coins on TSF b/c people are putting them up for sale. There is no shortage in the secondary market but have you noticed the premium sellers are asking? Were you around say 18 months ago when the silver coins were as cheap as chips on TSF?
Picking up 10 Thalers on the secondary market is not the same as going to the refinery with an order for 10 tonnes of 1000 oz bars.

Edited June 6, 2021 by sixgun

[NewCoins]

You can buy 500 1kg silver bars from the Royal Mint right now if you would like to.

https://www.royalmint.com/invest/bullion/bullion-bars/silver-bars/1kg-Silver-Cast-Bar/

 

[Zhorro]

5 minutes ago, sixgun said:

Can you buy a bullion American Silver Eagle off the US Mint website? 

https://catalog.usmint.gov/

Can you buy some Royal Mint coins off their website that are not an arm and a leg?
What i can see on the mint sites is highly priced coins. Good business selling these i suspect.

If the mints completely shut up shop then this telegraphs to the whole world that the its hit the fan. But there have been problems. At the US mint they put it down to changing the ASE design - yeah right. Here we see problems at the Austrian mint.

i went to Atkinson's to see what the situation was with monster boxes of Britannias. 

https://atkinsonsbullion.com/silver/silver-coins/2021-silver-coins/2021-uk-britannia-1oz-silver-coin-monster-box-of

i found that uninformative when i could crank up my cart so high it was more than all the available silver in the world.

The mints have got to keep producing sets of coins. The dealers have got to have some coins or else it becomes obvious to everyone looking. The Royal Mint stops producing any coins. A spokesman said we have stopped making coins for the foreseeable future. That isn't going to happen - it is a triple red flag and it isn't going to happen until there is no silver at all.

But the point I am making is that going back just a few years we did not have all these new issue 2oz, 5oz, 10oz, 1 kilo and 10 kilo silver coins which we are now getting on a regular basis.

[sixgun]

9 minutes ago, Zhorro said:

But the point I am making is that going back just a few years we did not have all these new issue 2oz, 5oz, 10oz, 1 kilo and 10 kilo silver coins which we are now getting on a regular basis.

Yes and i have seen discussions here about all the Royal Mint new releases. How they are overpriced. That many are poor value. A scam really fleecing gullible collectors. The tonnage of silver to make these overpriced articles doesn't amount to a hill of beans.

Now go to the Royal Mint site to get some Una and Lion silver bars

Awaiting Stock 1 oz bars
https://www.royalmint.com/invest/bullion/bullion-bars/silver-bars/una-the-lion-1oz-silver-bar-minted/  

Awaiting Stock 10 oz bars
https://www.royalmint.com/invest/bullion/bullion-bars/silver-bars/una-the-lion-10oz-silver-bar-minted/

100 oz bars - 53 in stock.
 

One of the biggest mints in the world and popular items are effectively sold out.

Edited June 6, 2021 by sixgun

[SidS]

16 minutes ago, sixgun said:

There are second hand coins on ebay b/c people are putting them up for sale. There are coins on TSF b/c people are putting them up for sale. There is no shortage in the secondary market but have you noticed the premium sellers are asking? Were you around say 18 months ago when the silver coins were as cheap as chips on TSF?
Picking up 10 Thalers on the secondary market is not the same as going to the refinery with an order for 10 tonnes of 1000 oz bars.

Yeah there are silly premiums but I don't buy those.

I've might not have been on TSF 18 months back, but I've been buying silver since 2000. So I've seen a lot of price fluctuations since then and all the crises etc.

[GoldenGriffin]

3 hours ago, Zhorro said:

going back just a few years we did not have all these new issue 2oz, 5oz, 10oz, 1 kilo and 10 kilo silver coins which we are now getting on a regular basis.

I've wondered this for a few years now too and I don't think we had these weights in gold as well as silver?

To me, this is one of a number of signals that I've picked up on and I think it tells me that we're in a bull market and at the end of it, we'll all look back and understand why RM minted so many coins and so many weights...

Opportunities are here now.

Only a certain amount of PM's will be released to the public.

Buy what you can.

Edited June 6, 2021 by GoldenGriffin
.

[Zhorro]

5 minutes ago, GoldenGriffin said:

To me, this is one of a number of signals that I've picked up on and I think it tells me that we're in a 10 or so year bull market and at the end of it, we'll all look back and understand why RM minted so many coins and so many weights...

I'm not sure you can really say we have had a 10 year bull market in silver.  Yes, the past year has been good, but I would suggest that for the preceeding nine years, silver's performance was distinctly lackluster.

[GoldenGriffin]

1 minute ago, Zhorro said:

I'm not sure you can really say we have had a 10 year bull market in silver.  Yes, the past year has been good, but I would suggest that for the preceeding nine years, silver's performance was distinctly lackluster.

Sorry, I should have been more specific, I believe 2033 is the date when the bull market that we're definitely in with gold tapers (100 years since 1933 or there abouts).

Silver seems to follow gold but who knows when the artificial price (spot price) will be more towards its true price.

To me, a bull market isn't just about price going up, it's also includes other factors.

To me, the price of gold or silver going up, doesn't necessarily indicate more silver or gold is being bought and this is the only factor.

[HerefordBullyun]

https://doomberg.substack.com/p/the-silver-squeeze-is-working-part-657

Interesting read here

[Roy]

The trouble with silver is that there's so much of it about.

Everyone on youtube seems to have 5000oz

Everyone in the USA seems to have 2000oz (and the equivalent in lead)

Some members on the forum have 10,000oz

For that reason, it's £20 /oz

[SidS]

Silver is not rare.

Just think how much there is lying around in antique shops up and down the country, not to mention in jewellers, museums, online auction sites, yard sales, coin shops etc.

You can buy silver any day of the week. I'm not knocking silver here in any way shape or form. I like silver as much as the next person on here, but I've never had any trouble in acquiring it, yeah sure the price goes up and down, sometimes more up than I'd like to pay. But I've never had trouble in finding it for sale.

Palladium on the other hand seems virtually unobtainable by comparison.