Buying Silver?

[LROSE]

Currently, the large volume dealers online are running about $8 over spot for a generic silver 1 oz round. That seems to be the settling point from yesterday on premiums for silver. The big run on silver yesterday just fizzled before it started and spot went up a few bucks but settled right back down just as fast.

[TXJIM]

The run didn’t fizzle. The market pulled a lever to try to put the brakes on. They raised the margins on silver futures to 18%. The margin is the amount of cash you have to have in your account as a percentage of your futures contracts. This only effects paper transactions by suppressing demand and the price of contracts.

But, if people keep buying physical silver there gets to be a big disconnect in the price of paper and the price of physical, this is the big premium we are seeing on physical silver now. The price of physical is a true reflection of demand and will ultimately win, pushing the paper price up regardless of the margin manipulations.

[kerrbow]

I have thought of physical silver as an insurance policy against the fiat printing fiasco that has been happening for years and is getting worse by the day. Respected financial people have warned us this was on the horizon and they were correct. Get it while the getting is good.

[Pineywoods]

The run didn’t fizzle. The market pulled a lever to try to put the brakes on. They raised the margins on silver futures to 18%. The margin is the amount of cash you have to have in your account as a percentage of your futures contracts. This only effects paper transactions by suppressing demand and the price of contracts.

But, if people keep buying physical silver there gets to be a big disconnect in the price of paper and the price of physical, this is the big premium we are seeing on physical silver now. The price of physical is a true reflection of demand and will ultimately win, pushing the paper price up regardless of the margin manipulations.

This is my understanding as well.

[LROSE]

The run didn’t fizzle. The market pulled a lever to try to put the brakes on. They raised the margins on silver futures to 18%. The margin is the amount of cash you have to have in your account as a percentage of your futures contracts. This only effects paper transactions by suppressing demand and the price of contracts.

But, if people keep buying physical silver there gets to be a big disconnect in the price of paper and the price of physical, this is the big premium we are seeing on physical silver now. The price of physical is a true reflection of demand and will ultimately win, pushing the paper price up regardless of the margin manipulations.

Sorry, meant to say it didn't "Run" like many were expecting because of the margin raise for futures.

[IamShado]

I always get in too late on these.

[TXJIM]

Sorry, meant to say it didn't "Run" like many were expecting because of the margin raise for futures.

$30 is the theoretical cap, if the demand for physical silver can push and hold the paper price above $30 the dam will break. That’s why the big players are pulling out all of the stops. Clearing houses raising the margin and JPMorgan issues a downgrade statement on silver futures overnight

[kerrbow]

$30 is the theoretical cap, if the demand for physical silver can push and hold the paper price above $30 the **** will break. That’s why the big players are pulling out all of the stops. Clearing houses raising the margin and JPMorgan issues a downgrade statement on silver futures overnight

Squash us peons. The nerve of us little guys to think we can make a difference. They will show us.

[MacDaddy67]

dont you have to take physical possession of silver?

[TXJIM]

dont you have to take physical possession of silver?

With paper contracts, “Physical possession” is taken at the vault of the exchange where it was already sitting. They are basically just pushing it from one side of the room to the other. More likely just taking one name off an inventory line and putting a new name on it. Some estimate the paper transactions outnumber the physical inventory 100oz to 1oz.

[EmergencyDoc]

When you buy silver, buy it to hold it physically. Doesn’t do you any good to “buy” paper silver IMO. Storing it can be a pain when it accumulates but if the world goes to crapola you will be glad you had it in possession. Same for gold.. We buy for an insurance policy essentially, it’s not a get rich scheme but nice knowing it is there if need be.

Prices should trend upwards generally-inflation and “green products” use silver so should be increased demand over the coming years.

[texansfan]

Silver has moved $1.50 within the last few hours
It has touched $26.000 and $27.500 overnight

[sneaky freak]

What is a box silver set of silverware worth approximately it has been in my family for a very long time 54 pieces total knives, forks, and alot of different size spoons. Not looking to sell just curious of value on something like this. The box is very old and not in very good shape

[Tony Pic]

What is a box silver set of silverware worth approximately it has been in my family for a very long time 54 pieces total knives, forks, and alot of different size spoons. Not looking to sell just curious of value on something like this. The box is very old and not in very good shape

You would get a melt price for the content of silver the goods are made with.
I would think more than likely a silverware set is worth way more than the content of silver. Especially if it is made by a famous Silversmith like Paul Revere.

[AtTheWall]

I have a 30 lb sack of pre 1963 USA Quarters @ 97% pure silver

Some of these quarters go back into the 30s and 40s and are worn right out

A 500 dollar sack of quarters, based on the .25 currency with these quarters now running around 10 bucks per coin now

Not many piles of these quarters left - and I may sit on these coins for a long time too