patrick.net

So. The silver market opens in 3 hours.

I did a quick search, "Silver for sale" and there is not a lot of product available.
https://www.jmbullion.com/silver/silver-coins/american-silver-eagles/all-american-silver-eagles/
https://www.jmbullion.com/search/?q=#/?_=1&filter.instock.low=1&filter.instock.high=1&page=1&resultsPerPage=60&filter.metal_type=Silver&sort.price=asc
It looks like an ounce of silver is around $50. If you can find one. The paper price is currently $27.

FuckTheMainstreamMedia says

Just curious...my grandfather passed away three decades ago and was a stamp and coin collector. I don’t think most of it actually has collectible value but I do know he squirled away every actual silver coin he came across(pre 1955?). My parents have it al...I weighed it out and it was a lot...maybe 35 pounds or so.

How much of a hit off spot do you take selling something like that? It’s not getting sold...my mom still has it and has no interest or need in selling it. But I am curious.

A silver coin has 0.715 ounces for every dollar in the silver coinage. So if you have 10 silver dimes, or 4 silver quarters - that's the same weight. 0.715 ounces of silver in 4 quarters or 10 times.

And it was 1964 that the US went to clad coins.

I'd say (guessing here - you need to double check) you have around 30 lbs of silver which works out to around 500 ounces - so about 15 grand worth of coins at current market rates. I would NOT suggest you sell though. If you want to sell it though, I will buy it.

It's also quite possible that some of those coins are worth quite a bit more than the silver content as well but you'd have to go through and categorize them and learn about coin collecting.

I have 10,000 oz of silver buried somewhere.

porkchopexpress says

I have 10,000 oz of silver buried somewhere.

I think all those hip hop stars dug it up to use in their "grills."

porkchopexpress says

I have 10,000 oz of silver buried somewhere.

If true, you shouldn't ever admit it. Makes you a target.

richwicks says

It's also quite possible that some of those coins are worth quite a bit more than the silver content as well but you'd have to go through and categorize them and learn about coin collecting.

Just keep in mind, at market peak, all premiums disappear. No one will give a fuck what coin you have, only how much silver is in it.

Metals are used to hedge against just inflation. As an investment it's a loosing proposition. What I see is a broken clock which is correct twice a day.

Blue says

Metals are used to hedge against just inflation.

Some of us call them the only real money in existence.

Silver periodically spikes but it will go back down.

RC2006 says

Silver periodically spikes but it will go back down.

But maybe the future won't be like the past.

Patrick says

But maybe the future won't be like the past.

it won't be but it will rhyme.

Silver is undervalued. It spiked to $50 an ounce over 40 years ago and its price has supposedly been manipulated ever since. I suspect the price will pass $50 an ounce for metal in your hand soon, maybe a lot more.

Or not.

But silver does tend to spike up and then go way down. I suspect this is because a lot of hoarders have their price that they will sell, a lot of cash and metal trade hands, and into the new vault it goes.

But it very well may be different this time. Silver is a precious metal and we have been using it for deodorant.

Onvacation says

Hasn't this guy been proven incorrect? Why is silver falling?

GlocknLoad says

Hasn't this guy been proven incorrect?

I am not sure who he is but if every body bought silver it would crash the "paper" market.

Don't know the person but like the idea. That is one of the cool things about an anonymous forum. That and we can say fuck with no repercussions.

GlocknLoad says

Hasn't this guy been proven incorrect? Why is silver falling?

Because the precious metals markets are the absolutely most corrupt in the world.

The US government CAN'T allow 1 billion ounces to be purchased by individuals in a year. If that happened, it bankrupts the entire country.

So, this is what will happen:

Silver will become unavailable for retail investors. Silver will be rationed for manufacturers. There will be months, maybe YEARS of propaganda along the lines of "Oh, there's PLENTY of silver, just not in 1 ounce and small bar form. You're CRAZY to think there might be a shortage" and the mints will claim that the only thing that prevents them from manufacturing more coins is because of "unprecedented demand".

This has already happened before. The same sort of crap was pulled with the London gold pool.

Spot prices can be moved from whatever it is now to $5.00 to $500 - it's wherever they want to take. It's a completely fraudulent market.

It's always been fraudulent, and the advice for years has been, just keep acquiring at a fixed below free market price. Right now, the bullion dealers are completely cleared out of small rounds and bars. In happened over the weekend. It's never happened that quick. There are still large 100 oz bars available but that's it.

But even if they fix the price below market, the bullion dealers will be buying, taking delivery, and minting them into small rounds for the public. Right now, they are selling for an $8 premium above spot. That's unheard of. The largest I've ever seen was $4.

If retail continually purchases, the game would eventually be up. But that being said, they can't continually fix it too low. If they could, it would still be at $5 like it was in 2000.

richwicks says

GlocknLoad says

Hasn't this guy been proven incorrect? Why is silver falling?

Because the precious metals markets are the absolutely most corrupt in the world.

The US government CAN'T allow 1 billion ounces to be purchased by individuals in a year. If that happened, it bankrupts the entire country.

So, this is what will happen:

Silver will become unavailable for retail investors. Silver will be rationed for manufacturers. There will be months, maybe YEARS of propaganda along the lines of "Oh, there's PLENTY of silver, just not in 1 ounce and small bar form. You're CRAZY to think there might be a shortage" and the mints will claim that the only thing that prevents them from manufacturing more coins is because of "unprecedented demand".

This has already happened before. The same sort of crap was pulled with the London gold pool.

Spot prices can be moved from w...

I find all of this fascinating because I can’t seem to wrap my head around the whole scam. Tell me if I am close….

There are 2 silver prices 1) physical and 2) paper. Paper is a claim on a # of ounces. Paper is traded all the live long day with a teeny tiny, if not ZERO, delivery of physical. This allows more ounces to be traded than actually exists.

5 questions.
1) What is to stop the controllers of physical to simply make it extremely difficult (I understand it already is but they could increase the difficulty) and EXPENSIVE for someone to take delivery? This could be a way for them to stay solvent…by simply passing their losses to those who want delivery by increasing the costs of delivery.
2) How does the Monkey Hammering happen? What, exactly, are the controllers doing to push the price down?
3) When they push the price down, they are only pushing down the price of paper silver, correct?
4) What other avenue (I assume PM dealers) does the retail investor have to buy AND sell silver at the true price?
5) Do the controllers even recognize as fact the real price of PMs? I assume no.

theoakman says

But even if they fix the price below market, the bullion dealers will be buying, taking delivery, and minting them into small rounds for the public.

No, they won't. There will just be a shortage. This has happened multiple times.

theoakman says

If retail continually purchases, the game would eventually be up.

Retail will not be allowed to purchase continually. There will just be no product or even making sales illegal.

The price will have to go way way up before they ever resorted to making it illegal. There is money to be made here.

theoakman says

The price will have to go way way up before they ever resorted to making it illegal. There is money to be made here.

You have to stop thinking in terms of "money" - it's not money that they are competing for - it's currency. "Currency" is for the little people.

The Federal Reserve can print up as much "currency" as they wish - they can, have, and do. They are the ones that run the country - who runs them? Dunno.

Remember, the Federal Reserve used to be a legitimate bank that gave out currency notes in exchange for $20 gold coins at 1:1. What they did was printed more currency notes than they had gold. They went bankrupt in 1933, so they just stopped exchanging currency notes for gold. They went bankrupt again by 1971 when they couldn't even redeem the currency notes for the gold coins (repriced to $35 an ounce after 1933) to foreigners.

1971-1933 = 38
1971+38 = 2009

When was our last major crisis? 2007 and 2008?

2009+40 = 2049 - that's around the latest date the shit hits the fan and they are going to do EVERYTHING to forestall it.

They are pushing for communism because in that system, nobody owns anything. We will own nothing and be happy. Well, you can forget the happy part, but we're going to be pushed to own nothing. Rent everything.

richwicks says

They are pushing for communism because in that system, nobody owns anything. We will own nothing and be happy. Well, you can forget the happy part, but we're going to be pushed to own nothing. Rent everything.

So the goal is to join the Big Club before 2049 arrives? How...$$$$$$?

GlocknLoad says

So the goal is to join the Big Club before 2049 arrives? How...$$$$$$?

It's not a big club. It's a very small one, and it's exclusive and you have to be born into it.


https://www.bitchute.com/video/Jo3RBmQrm7ne/

That's the real situation. The reason we don't murder these few people, is 1) they have a lot of useful idiots backing them up 2) we're too fucking nice.

But they'll murder us.

The paper price of silver is disconnecting from physical.

https://www.kitco.com/charts/livesilver.html

If you actually want to buy physical silver it starts around $32/ ounce, if you can find it.
https://online.kitco.com/silver?utm_source=kitco.com&utm_medium=referral&utm_content=submenu-buy-silver&utm_campaign=2017-03-23_kitcoweb

GlocknLoad says

1) What is to stop the controllers of physical to simply make it extremely difficult (I understand it already is but they could increase the difficulty) and EXPENSIVE for someone to take delivery? This could be a way for them to stay solvent…by simply passing their losses to those who want delivery by increasing the costs of delivery.

Nothing. They do this all the time.

GlocknLoad says

2) How does the Monkey Hammering happen? What, exactly, are the controllers doing to push the price down?

Options trading. Often the price of the PM's are driven down in the middle of the night when there's light trading. The banks can do naked shorting, this means they are shorting the commodity without putting up any money to do it. They are massive banks after all and when they fail, they get a tax payer funded bailout.

GlocknLoad says

3) When they push the price down, they are only pushing down the price of paper silver, correct?

More or less. You get high premiums. MOST online places will only pay spot if you sell, but not all. Premiums of $10 an ounce isn't uncommon. It doesn't usually stay that divergent for long. Generally what happens is that silver gets smashed in a few weeks, banks try to cover their short positions, and everybody is buying something that tracks the price of silver for that brief interval.

GlocknLoad says

4) What other avenue (I assume PM dealers) does the retail investor have to buy AND sell silver at the true price?

eBay? Not much. Coin dealers can setup a direct purchase and sale between people, if you're friendly with the dealer. The seller gets a better price, you get a better price, and the coin dealer doesn't have to do any shipping.

GlocknLoad says

5) Do the controllers even recognize as fact the real price of PMs? I assume no.

They know it will blow up at some point, they just keep staving it off. WHEN it blows up, it's going to blow up.

Our banks are just fraud organizations. The dollar used to be $20 for approximately (a little less) an ounce of gold. Then the Fed created more dollars than gold to back it up - this is counterfeiting. This game went on fro 1913 to around 1933 then FDR made it illegal for AMERICANS to own gold, then revalued gold to $35 an ounce. This game went on until 1971 when the Fed continued to counterfeit MORE money. The London gold pool was setup in an attempt to keep gold down, but foreigners kept on exchanging their toilet paper for gold. It collapsed in the late 1960's.

In 1971, the Nixon Shock happened - where the US "temporarily" suspended gold convertibility.

Officially gold is still $35 an ounce.

They're doing the same thing with silver but it's more opaque, however, it's more obvious too.

15 years ago I thought "surely the government wouldn't allow THIS?" - like allowing the coin and bar market to just dry up, or allow companies to just outright steal (Hannes Tulving did this) - the government doesn't prosecute any criminality at all in the PM area. None. They want to keep the price down, because dollars are worthless.

If you buy PMs, you buy them, and sit on them, and forget them. It's not like a stock and once you feel real money, it's kind of addictive. Holding a gold St. Gaudens is an experience. It way more heavy than you expect, and you're holding about $1.8 grand today. Felt the same way when I was holding one at $450.

richwicks says

GlocknLoad says

1) What is to stop the controllers of physical to simply make it extremely difficult (I understand it already is but they could increase the difficulty) and EXPENSIVE for someone to take delivery? This could be a way for them to stay solvent…by simply passing their losses to those who want delivery by increasing the costs of delivery.

Nothing. They do this all the time.

GlocknLoad says

2) How does the Monkey Hammering happen? What, exactly, are the controllers doing to push the price down?

Options trading. Often the price of the PM's are driven down in the middle of the night when there's light trading. The banks can do naked shorting, this means they are shorting the commodity without putting up any money to do it. They are massive banks after all and when they fail, they get a t...

Thank you for the time it took you to respond. I do truly appreciate your effort.

Btw, what is your vocation?

Onvacation says

Silver is undervalued. It spiked to $50 an ounce over 40 years ago and its price has supposedly been manipulated ever since. I suspect the price will pass $50 an ounce for metal in your hand soon, maybe a lot more.

You're talking about the short squeeze in early 80's when a couple brothers tried to corner the market. More recently it peaked at around $40. If you like investments outside of central bank control, this is about the best. But it's a long game. Hold and swap on the peaks, usually around 70 and 30.

WineHorror1 says

Btw, what is your vocation?

Well, technically I'm an electrical engineer, in reality I'm a code jockey, currently, I'm a worthless bum.

I go in manic phases and currently, I'm "pre-manic". I work in Silicon Valley, and I'm kind of disgusted with every fucking company here. Technology I regarded as a way to free and educate humanity, and lo and behold I was a sucker and helped enslave it. Got to figure out how to fix that.

Onvacation says

If you actually want to buy physical silver it starts around $32/ ounce, if you can find it.

Less now, you can get it below 30 if you buy large items.

https://www.apmex.com/product/218833/2021-australia-1-kilo-silver-kookaburra-bu

richwicks says

lo and behold I was a sucker and helped enslave it. Got to figure out how to fix that.

Funny enough, that is exactly what I am doing now. I am 95% complete on a project that will enable real estate photographers break free from the large tour companies. I believe what I am creating is a chance to decentralize real estate photography.

Rb6d says

Onvacation says

If you actually want to buy physical silver it starts around $32/ ounce, if you can find it.

Less now, you can get it below 30 if you buy large items.

https://www.apmex.com/product/218833/2021-australia-1-kilo-silver-kookaburra-bu

That "coin" went up $50 today. If you were to buy that kilo lump of silver it would cost $29.80 an ounce.

I called an old friend of mine that runs a coin shop in the Napa Valley. He has product and he is selling Silver Eagles (one ounce US Bullion) for $38 each. He has less than 500 and can't order any more. He also has some 100 ounce bars he is selling for $2900. That was this morning. Price may be higher or product may be unavailable now.

The current paper price is around $27, with a higher than average bid ask range.

SO, like others have said, you can buy silver, but at no where near the paper price.

That kilocoin of silver went up another dollar in the time it took me to write this post.

Onvacation says

That kilocoin of silver went up another dollar in the time it took me to write this post.

Another $5 in the last two hours.

Onvacation says

Another $5 in the last two hours.

yeah, interesting. The crap hitting the fan reminds me of late Soviet Union, with "temporary shortages" lasting months or years. I am trying to buy some 300 win mag ammo, there is none absolutely for less than 3-4$/round, and it should cost about 1$. More popular guns are sold out, now silver, what is next? Food, gasoline after Bidet shuts down pipelines and allows us to eat only responsibly sourced insects?

Be surprised if we see spot price of $50 before it hits $20, the banksters will “find” more silver to sell than he Democrat’s found Biden ballots in the middle of the night. They simply will not let the silver ship sail. They will dump fake silver on the market even if it costs them billions. They know that in the end the Fed will always bail them out.

Nobody is shorting Silver this is a psyops to get Silver to where they've been trying to get it for years and years.

The earliest version of Patnet I can remember, after the housing crash. Many people missed the boat on Gold, so they were trying to get Silver to take off.
Lots of Silver hawks back then. Silver has no business over $12oz. But I wouldn't try to short a Silver rally. They hold on to hope for years and years. They will pump it up as long as it takes. It will never happen, but neither will your short.

Tenpoundbass says

Silver has no business over $12oz.

It costs double that to mine and refine it. It has lots of industrial uses and gets consumed. I think it is worth at least $50 an ounce for nicely minted (easily recognized as real) coins. I think that is where the real equilibrium between supply and demand is, around $50 an ounce.

Time will tell if it's different this time.

Rb6d says

Bidet

Lol, love this.

Personally, what I really want to own is income producing assets.

Paper ones like stocks have done well, but are very volatile now.

Instead of gold or silver, I'd like to own, say, a large windmill that produces electricity but doesn't cost much to maintain. Or maybe prime farm land, if Bill Gates hasn't bought it all already.

Onvacation says

He has product and he is selling Silver Eagles (one ounce US Bullion) for $38 each.

How much will he pay for them? Haven't been to wine country in a while.

NuttBoxer says

Just keep in mind, at market peak, all premiums disappear. No one will give a fuck what coin you have, only how much silver is in it.

Not exactly true. Rare coins (numismatics) can be worth significantly more than their melt value.

Still, it's worth about $15,000 melt or so - I wouldn't bother to sell. Not in times like these anyhow.

Dollar is going to gain more strength and everything will be hurt for the short term. I'm super bullish on silver it's already up 157% since March madness. Pre-production is my sweet spot! SilverCrest, Alexco or Aurcana. Or the easy way to play it would be SILJ mostly mid-tier miners. This will be a rodeo of a bull ride. Got to hold on tight or you'll get shaken off. Hi ho

The Big Silver Short - check out book if you want to read more