Featured Anyone else notice the price of silver right now?

I don't think anyone could forget them! Anyways they would have won if the government wouldn't have intervened and force them to sell. The silver market is just small enough that a well organized group creating a "movement" could send prices off the rails for a while, might be a good time to sell if you can time the top of the spike.

 

I don't think the reddit wallstreetbets crowd will get behind a move on silver. There are a few posts mentioning silver there, and I think the current price jump in silver is people anticipating that the wallstreetbets crowd will move to silver en masse. I'm not convinced they will, and will be surprised if this spike in silver lasts very long.

 

I've been salting away scrap silver, coins, flatware, jewelry, etc. for the past 5 years. Always paying current scrap prices when I could.

I now have 126 POUNDS of sterling silver and coins.

I wanna see $40 before I sell

 

I’m definitely interested to see what happens in the market. There’s already reports that some silver distributors are notifying buyers of a backlog on physical delivery of bullion. I think it’s very likely the silver entrepreneurs will start seeking sterling in secondary markets (eBay etc) as they try to exploit arbitrage of a rising metal price. I am still skeptical on the size and duration of a spike, but I think it will happen... Looking beyond silver, the entire precious metals market took an upward ride today.

My personal take: institutional investors in the market are super concerned of a price bubble triggered by GME/AMC shenanigans and they’re starting a slow hedge of stock market investments. Inflation due to all the COVID relief money will exacerbate that fear I think. My strategy for current items for sale is simple: increase my prices to a spot price I’m happy to accept and either enjoy the added profit on the upward ride or keep my stuff priced out of the market until the volatility calms down. Either way it’s a win in my book...

 

Agreed, perhaps a time to short against the box, buying the puts and the calls??!

 

Appears to be all smoke no fire on silver right now. Physical silver is all sold out and selling for huge premiums but "paper" silver share are going no where. I think it is very clear that the market is rigged but I don't see how that will change without a ground swell of buyers big and small.

 

I have about a pound of scrap saved up, and I'm so annoyed I didn't sell it back when it was going for $29. I had class that day and couldn't make it to the pawn shop. Now I'm wondering if I should hold onto it...

 

Joe, although we have some physical silver. I follow a different route. I own stocks in companies that either mine silver and gold or buy future contracts for delivery (mostly Canadian.) I watch it fairly closely. When the price is below a certain level, it is time to buy. When it reaches a certain price (peek) it is time to sell some stocks. Has worked so far ...

 

A whole pound?
Hold it....and find more !!

 

That's just the broken stuff.