I absolutely did, Alot of my big sellers are extremely upsetIlovesilver97 did you get the memo that the refinerys are shifting off kitco spot to comex futures for buying prices? That was minus 4 yesterday.....
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Official ODT Silver Thread
- Thread starter roscoe1911
- Start date
The fireworks are going to start. I guess they are free to buy however they choose, seems kind of shady, but with an unstable market and what I suspect was a massive paper holder sell off at spot $50, anything is possible.
I got mine out of the safe to go through and decide what I wanted to list (primarily the stacker stuff and not the "premium/themed" stuff), but got called in to work and wasn't able to do it. It doesn't take up much room and isn't costing me anything to store it, but whenever y'all are ready to pay $50 per ounce let me know. It's all pure bullion from almost exclusively JM Bullion although there may be a few other online sellers in there. Nothing bought off Ebay or pawnshops as I was always afraid of getting conned 
I think it's because it shot up so fast. They don't want to get stuck holding the bag if it dropped sharply. I'd like to hear from Big Mike on this
Im not sure. I've been comparing notes with my network of people all over the country and we are all scratching our heads.
In my reasoning ability, there shouldn't be a drop in price due to the combined weakening of the dollar and increasing industrial demand for the metal. By that logic, why would a refinery stop buying a commodity that's going up in price. Are they out of money? Are the stockpiles huge? Do they not want to get hung with taxes at the end of the year on inventory? I don't know.
My Westcoast connection told me last night 4/5 of the refinerys they use are paying minus 5 for .999 bullion.
I'm still selling at about spot and paying more than most coin shops, but I'm watching the physical market very closely. What the refiners do is a moot point if we aren't selling to them. But if the coin shops fall off their buying and start selling under melt over refinery, that's going to change the game on those of us that do P2P buys/sells.
I know what I'd think if the local shops start offering 70%. They already were on junk silver.
I think spot is going to sit steady. Physical premiums might move slightly. I don't think someone who chooses to buy or sell will lose. DCA always wins the long game. Selling what you've been holding or adding to what you've need holding still keeps you under value. The $40 to $50 move in the past month should put most people DCA under 80%. Sell if you want, buy if you want. You won't lose money either way.
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