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REPORT ABUSIVE REPLY
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Message Subject
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Attn Silvertards-Here is what I am hearing
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Poster Handle
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Anonymous Coward |
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Post Content
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So I talked to a local coin dealer, here in IL) about the lack of supply he had. He was sold out of all Premium and junk silver. He had maybe 50 or so generics, thats it!!! I asked him what he thought.. He asked me to sell him some silver if I had any. He told me he would pay me 1.50 over spot. I said NO WAY... He said THAT is the problem, he isn't seeing the masses coming in to sell their silver any more...
Are you guys seeing the same?
Quoting: MaxMad Spot is based on paper and a disconnect between it and physical has started. Locally, when TPTB beat down the physical [rice with their paper the shops claim that they are sold out. Truth is they are sitting on it because they do not want to take a loss. When the masses realize that you have to have psychical in your possession to own it then the paper crapola will lose its shinola. I always thought that selling your silver (or gold) for spot is really, really stupid. Spot prices are based on paper claims first of all, which don't have 100% physical backing, and, the contracts include huge quantities of metal. Not sure of silver (someone correct me) but I think the gold spot price is based on a contract of 5,000 ounces. Why would you sell your couple ounces of gold for spot that is based on paper transactions of 5,000 ounces per contract? .
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