Silver Stackers

Discussion in 'The Cocktail Lounge' started by IMJ, Feb 2, 2021.

  1. IMJ

    IMJ Member

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    Any Silver Stackers here? There's a huge run on silver right now. Huge. It's impossible to find and it's a big enough movement that I'm considering unloading some of my own at 43 an ounce - a price that was previously unheard of, but it's happening right now.
     
  2. StockJock-e

    StockJock-e Brew Master
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    Sell into strength, these are pretty good levels.

    Question is if this trend will continue, its been pretty strong so far.
     
  3. StockJock-e

    StockJock-e Brew Master
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    I see there are few communities trying to force a run in silver by buying physical. Im not sure how effective they are based off their size, or if they can even take on the big guys, but worth watching to see if this can ignite more interest.
     
  4. Rustic1

    Rustic1 Well-Known Member

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    Kinda weird, gold,silver and bitcoin. Panic,fear. Or coincidence?
    I have never fooled with cryptocurrency. I remember laughing at friends that bought bitcoin in the 500 range. Oh well.
     
  5. IMJ

    IMJ Member

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    Well, I've got 20 ounces of Sunshine Mint, laser-encoded bars I can move at 43 a bar + shipping if anyone wants to get in on it. That's the honest market right now. Spot prices are higher than ever, but truth be told they are meaningless right now when demand is this high and even the biggest vendors (Apmex, SD Bullion) have no silver of interest (key 1 oz bars from known mints, certain rounds, etc).
     
  6. Rustic1

    Rustic1 Well-Known Member

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    Personally I'm heavily invested in toilet paper at the moment, if my theory proves correct I can become rich overnight when it hits the fan. Our economy has never been better and we all know the recent buying frenzy is due to the WSB boys playing games. LOL.
     
  7. IMJ

    IMJ Member

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    HA! Being so heavily invested in the toilet paper I would argue that any of you're shit should never have to hit the fan. ;)
     
  8. Rustic1

    Rustic1 Well-Known Member

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    People are going wild over precious metals. Never seen anything like it before.
     
  9. Rustic1

    Rustic1 Well-Known Member

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    Anyone tried to buy gold,silver,copper bars lately??
    Been looking and most are out of stock.
    This has nothing to do with the supposed short squeeze on silver, its market wide shortages across the board.
    Amazing, I have never seen anything like it.
    Referring to the big bars, not 1 oz., even those are limited supply. Makes you wonder?
     
  10. IMJ

    IMJ Member

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    LOL! I mean... what you've said here reflects exactly what I was getting at in my first two posts in this thread. I wasn't joking when I said I'll unload 20 oz at 43 a bar to the first take.
     
  11. Rustic1

    Rustic1 Well-Known Member

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    Not out of the question at all.
    I have a few Engelhard bars from years ago, WAY cheaper than today's prices. 100 oz is the way to go.

    Been watching the buying frenzy and underlying amazed, even with copper bullion.
     
  12. StockJock-e

    StockJock-e Brew Master
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    Where are you seeing this? What platforms and what kind of growth in those specific communities?

    the r/wallstreetsilver sub kicked off just over a week ago, Im observing their growth to see if any kind of critical mass can be achieved.
     
  13. IMJ

    IMJ Member

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    We are seeing it in precious metals communities and speculators. And you don't have to watch silver miner stocks or futures trading on any platform to know this - that information is replete on almost any silver source you can find. And if you feel those silver sources are biased, a quick google search would demonstrate that standard news outlets have picked up on the zeitgeist.

    What kind of growth? Well when it comes to physical ownership the growth is measured either in weight or stack size. If that's too generic an answer, then simply do a quick search on any silver seller - SD Bullion, Apmex - there are a variety out there. 1oz bards are nowhere go be found. People are capturing sales on them even on eBay for 45 an ounce PLUS shipping.

    It's an absolute truth and not hyperbole for the guy to say that people are going wild over precious metals.
     
  14. StockJock-e

    StockJock-e Brew Master
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    I have seen that mentioned a lot.
     
  15. Rustic1

    Rustic1 Well-Known Member

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    Its getting wild to say the least.
     
  16. IMJ

    IMJ Member

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    Like I said, just take 15 seconds to see if they are available on any of the major silver dealers as a confirmation example.
     
  17. StockJock-e

    StockJock-e Brew Master
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    Im also seeing everybody being told to buy PSLV as a way to force the shortage.
     
  18. IMJ

    IMJ Member

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    I'd prefer that these things happen organically. Of course, some of the pricing action is an organic response, but even that response was catalyzed by an initiative. I've also viewed metal ownership as something that you do in real, physical holding. I've never been a fan of metal funds - just can't help but feel that metal funds are counter to the ethos of metal which is a physical thing.
     
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  19. Rustic1

    Rustic1 Well-Known Member

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    Copper seems to be the new silver. I think its foolish to put the blame on the redittors, that seems to be the new norm.

    Obviously the market will sort itself out in time, BUT who controls the market is the question.

    Some don't trust the markets and prefer to physically hold. With the push into alternative energy and the electric car revolution it will put a strain on the industrial side of precious metals that are already feeling the pains of the pandemic.
     
  20. StockJock-e

    StockJock-e Brew Master
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    Is today the day it pushes $30?
     

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