Shorting Silver?
- Thread starter Samuel Whittemore
- Start date
In the last run up, silver peaked at $50 ounce before being swatted back down.
There is a ways to go before it just gets to recent historic highs.
However delays on getting your physical silver are not all that new, it's been that way for over a decade. If you order a large amount of minted silver in one order, it's easily 2 to 4 weeks to take delivery of it.
There is a ways to go before it just gets to recent historic highs.
However delays on getting your physical silver are not all that new, it's been that way for over a decade. If you order a large amount of minted silver in one order, it's easily 2 to 4 weeks to take delivery of it.
Google Hobo Nickles. It's an art form, kind of like trench art, that people with a engraving experience developed. Some of the coins are fascinating and go for a lot of money now days. I have an engraver --paid $2,500 for the set up --best I can do are line drawings. Takes a lot more patience and practice than what I had envisioned. And I'm a pretty patience guy. Unless, of course, you have blue hair and speak woke.
Fo Eg:
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Hobo nickles are interesting. I learned about them (a bit) last year, when I picked up a few gravers so that I could make a Christmas gift for My Lady. She wanted her own custom 'seal' so I made her one.
"Wax seal on an envelope" type of thing. For clarity.
And I started with a 1970's solid copper penny for a medium. Worked great (for our intents) and sure give me appreciation for those who get into ridiculously insane detail.
"Wax seal on an envelope" type of thing. For clarity.
And I started with a 1970's solid copper penny for a medium. Worked great (for our intents) and sure give me appreciation for those who get into ridiculously insane detail.
Bought a bunch of 1 oz bars this am. Interested to see how long it takes them to fill the order as i had to do a wire transfer.
Purchased from Golden Eagle Coins at better rates than i’d seen anywhere else.
Purchased from Golden Eagle Coins at better rates than i’d seen anywhere else.
You'd be very surprised at the amount of solid sterling silverware (not plated junk), you can find at flea markets. It's like the sellers don't care that it's sterling. I can't imagine they don't know.
No, it's cut coin. A jeweler's saw is used to cut around the struck images.
Those coins are ones I cut for various projects.
Everything I'm reading says all those 90% silver coins are basing trading at 90% silver cost by weight.
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Opened a long this am. Hope they let it run a bit.
For those of you with "smart money" my acquiring a position may be a strong indicator that silver has peaked.
For those of you with "smart money" my acquiring a position may be a strong indicator that silver has peaked.
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I'll be selling a monster box of ASEs and some junk when/if this spot $40. Looks like about $41 for uncirc silver from a monster box per Apmex.
It's a trap where the Big Guys get back at you young Whippersnappers for fucking them up the ass on the Gamething.
I make no pretense that I know what I am talking about because I don't, I just do what my Son tells me to do. YMMV
I make no pretense that I know what I am talking about because I don't, I just do what my Son tells me to do. YMMV
My son is only ten so that won't work for me. You are right that it's a trap. But it's to early to say who will be the trapper and who the trapped.
My dad bought about $50K worth of silver about 12 or more years ago. He dont know how much he has in weight. i wonder what its worth today.
Do you have it in hand? Weigh it, if on paper, weigh that, what you have in hand that weighs the most is what counts.
Its in silver bars stacked up in the safe. Right next to the $200k+ in gold coins and bars. Now that im thinking about it, i might go rob my dad tonight.
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41.86 today
$SLV is the ETF for silver. It means nothing. They can short it all they want and it won’t mean shit for the actual silver market. Only way they’re gonna fuck with that is to start buying up huge quantities of actual silver. Best they can do is make the premium difference on the price of the options on $SLV
I jumped into 350 shares of SIVR today. This ticker is backed by physical silver.
The historic ratio between gold and silver is 16:1. In order to get back to this historic ratio, gold either has to go down or silver has to go up. The ratio had stretched to 80:1 earlier in 2020.
The historic ratio between gold and silver is 16:1. In order to get back to this historic ratio, gold either has to go down or silver has to go up. The ratio had stretched to 80:1 earlier in 2020.
We haven't seen that 16:1 ratio for some time. Just curious, where does that number come from?
Silver's going to be difficult to play the "game" with. I just don't seeing things going like Gamestop did. I've been into precious metals for more than 30 years. All physical metals. I'd love to see silver go to $100/oz. I just don't see $50 sustainable.
Buyers also won't play the day trader game. They want stable pricing before they buy. An uptick of 25% will shut them down for the day. It's hard to move large amounts of silver when things like this happen.
Is silver still a good long term hold though?
it may not be good to squeeze but it is still valuable in manufacturing and (historically) pretty far off from the normal ratio with Gold. Makes sense manufacturer’s would want to keep costs low, but couldn’t it still make it to 50-60oz?
it may not be good to squeeze but it is still valuable in manufacturing and (historically) pretty far off from the normal ratio with Gold. Makes sense manufacturer’s would want to keep costs low, but couldn’t it still make it to 50-60oz?
Typically, I'd say it may sniff at $50 for a time but not sustainable at that price.... BUT, when Gamestop can go north of $300 a share, I'd say that anything is possible.
Just bought a hefty amt of physical bars for long keeping. they may go down but should always come right back up. Thinking once the reddit stuff wears off, i will continue to buy physical on a monthly basis.
Be careful with bars. There have been some bars that have turned up having a certain amount of non precious metals in the center of the bar. These bars are only off by a sliver in their physical dimensions. Lead and lead powder are popular as additives.
Usually this is in the 100 oz bars, but it's may become more prevalent if the price of silver goes ridiculously high.
Good to know. I just bought 1 and 5 oz bars as they offer a decent price But i saw a ton of guys buying rounds. are 1 oz coins a better bet?
16:1 was the ratio before the markets were artificially suppressed. This ratio goes back to biblical times. It is based on the rarity of the metals in the earth's crust. If you were a miner, you would uncover 16 ounces of silver for every 1 ounce of gold. If a majority of paper silver holders ever decided convert over to physical silver and take delivery of such, the price would skyrocket. It would be equivalent to a run on the banks.
There is no true currency. The currency of the day is whatever some or many people need or want. Metals return in value because they are needed for so many things.
Hope you shorted it when this posted.
‘The exchange raised margin requirements. Silver, GameStop and the rest are done like dinner.
On the reddit guys: While I realize it’s an unpopular stance they’re just as big a dirtbags as the hedge funds they “supposedly “ busted. (By the way, I find it extremely hard to believe they busted anyone, bruised maybe)
There are going to be a bunch more little guys holding big losers in GameStop, AMC, Express and silver than big guys.
‘Call it what you want; rage against the machine, dicking over the big guys, getting even etc. but this has been market manipulation writ large. By the way, that’s a crime.
So is front running. This occurs when a person takes a market position and then pumps it up. Exactly what happened here. Watch the movie Wall Street. When they do the pump on Blue Sky Airlines when they already own it, that’s front running.
These reddit idiots left a virtual trail a mile wide. They better hope none of them already owned something then posted on any soc media about it.
‘The penalties for the above are jail and asset confiscation. Figure it out.
Here’s hoping none of you got caught in the mania. These things happen every few years in the market. Look up flash crash, sub-prime, internet bubble, the ones in 90-91, Black Friday in the late 80’s.
The old saying goes bulls get some, bears get some, hogs get slaughtered applies once again.
There is no such thing as a free lunch.
By the way, if you think the big, nasty hedge funds didn’t take advantage of these abnormal run ups and situate themselves to make a helluva lot more than they lost you’re delusional
These runup guys actually created exactly what they were raising hell about
These runup guys actually created exactly what they were raising hell about
Interesting point.
‘Another is why gold is considered an inflation hedge.
1 oz of gold in the time when Egypt ruled things and was the preeminent civilation would buy 300 loaves of bread.
How I personally figure if gold may be overvalued is take the average cost of bread x 300 and figure from that.
Interesting point.
‘Another is why gold is considered an inflation hedge.
1 oz of gold in the time when Egypt ruled things and was the preeminent civilation would buy 300 loaves of bread.
How I personally figure if gold may be overvalued is take the average cost of bread x 300 and figure from that.
I heard the standard was a made to order mans suit.
An ounce of gold in 1880 would get you a made to order suit as it will today.
Haven't done the research to confirm that but present prices seem to be legit if talking about a damn nice suit. Unsure if accessories intended to be included. If so than rack suit with shoes, shirt, tie, belt.
Interesting point.
‘Another is why gold is considered an inflation hedge.
1 oz of gold in the time when Egypt ruled things and was the preeminent civilation would buy 300 loaves of bread.
How I personally figure if gold may be overvalued is take the average cost of bread x 300 and figure from that.
Food was much more valuable for the better part of human history, it was only once basically the Americans figured out factory farming and it spread to the rest of the industrialized world, that food became cheap and plentiful and people could afford to get fat.
Even 100 years ago, food was a lot more expensive comparatively.
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