Bought some PSLV yesterday just to get me some quick, initial exposure to metals. Will look at physical stuff soon.

Nice!! Congrats! Once you get physical silver in your hand... the addiction starts

I personally wouldn't. I trade some gold for silver back when it was 95:1. I would hold the gold right now. Gold is a great way to hold wealth in a small package.

YouBet said:

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Bought some PSLV yesterday just to get me some quick, initial exposure to metals. Will look at physical stuff soon.

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Same here.

Although I also started buying a little physical silver as well.

How would y'all go about selling silver coins? Don't want to sell back to a dealer because it's taxed, would rather sell to a private individual, but many people are hesitant because they can't verify its real.

Legendary Texags Poster said:

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How would y'all go about selling silver coins? Don't want to sell back to a dealer because it's taxed, would rather sell to a private individual, but many people are hesitant because they can't verify its real.

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Have sold many coins privately on silver facebook groups. Only sell to people who have other positive references from in the groups. Typically sell the same as price on the various big sites (apmex, jm,sd, etc).

Their are groups on Facebook, Reddit, Instagram and other platforms that buy silver and gold. I've sold to many people on Instagram and have had good success. Also you can research on YouTube different ways to authenticate silver. That way when you go to sell, you can authenticate it in front of the buyer. I've done that before when I sold some gold to someone.

Also if silver takes off like we all know it will, selling back to the dealers even though you are taxed wouldn't be the worse thing. That's not my first option but it's not the worst one either.

I will say people are finally waking up to real money. In the last 2 months, I have actually paid for $6000 worth of parts and labor for various things with gold and silver. A good friend of mine just paid for a used car in gold. Bartering for goods and service with your metals is becoming more common.

Where do you think silver is headed?

Two parts to that question

If manipulation continues:

If the manipulation continues on silver, I still think it can reach $40-50 by the end of the year. Inflation is showing itself almost everywhere. Inflation is a topic on almost every news station. With the Fed in a bad spot, they either raise rates to curb inflation or they stop printing money which kills the stock market. I don't see them doing either of those. I think rates will stay at 0 and they will continue Quantitative Easing. That will cause almost all commodities to rise ( like they are right now).

If manipulation ends:

If some how the manipulation ends.... we could easily see $1000+ silver and I mean easily. That would require the COMEX to default on its obligations. If you have read the links I provided at the start if this post, you'll see that the short interest on the COMEX is 500+% of the float. If people/companies demand physical silver from their contracts, it could break the COMEX. We are seeing the first steps of that play out right now.

Now obviously these are both big "ifs". For all I know the manipulation can get even stronger and they smack silver down to $8 again like they did in 2011. All I know is that things that can't go on forever, don't. At some point the damn breaks and when it does.... it's going to be bad.

Exactly. Keith is a great guy. He really knows his stuff. His last interview on Kitco he called them out for sharing misleading information... it was awesome.

Those are some sweet pieces!! Good prices too.

Look for sparks tomorrow. The CPI number comes out tomorrow and rumor is that it will jump 1%. I think silver goes above $28 and could take off on a nice little run. But the banks could hammer it back down with paper shorts. Time will tell.

What is a decent premium over spot to pay for rounds and bars?

Outdoorag011 said:

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Look for sparks tomorrow. The CPI number comes out tomorrow and rumor is that it will jump 1%. I think silver goes above $28 and could take off on a nice little run. But the banks could hammer it back down with paper shorts. Time will tell.

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Sorry if you previously covered this but what is their motivation for continuing to hammer it down? At some point they will flip long and make a killing you'd think...

$3-5 is about what you are seeing right now for bars and rounds. If you can get it under $3... that would be a great deal. Only if it's from a reputable dealer.

They will go long whenever they have accumulated enough physical silver to cover their contracts. Which is very unlikely since you can't create silver from thin air. The world doesn't have enough silver sitting around to cover the contracts on the COMEX and LBMA. Which means if the COMEX and LBMA default... it could bring down a few mega banks.

Here is a great discussion on the manipulation. This is one of my favorite pm podcasts.

https://podcasts.apple.com/us/podcast/sprott-money-news/id724663687?i=1000521712447

Outdoorag011 said:

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$3-5 is about what you are seeing right now for bars and rounds. If you can get it under $3... that would be a great deal. Only if it's from a reputable dealer.

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They also discuss premiums and why you are not likely to see them fall anytime in the next year on the podcast I just posted.

Outdoorag011 said:

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$3-5 is about what you are seeing right now for bars and rounds. If you can get it under $3... that would be a great deal. Only if it's from a reputable dealer.

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Thanks!

Another question... I ordered some rounds and coins that were shipped in plastic "flip" sleeves. I also ordered some empty plastic tubes. Which of these is the best way to store the coins?

I don't own any ETF's, but if you're going to go that route, I'd recommend PSLV.

Most people put rounds in tubes just because the stack better in a safe or wherever you are storing it. It's all preference at that point. I have coins in tubes and flips. It's just which one do you like more. On cooler cools that I have that I don't want to get scratch up, I'll put them in flips or air-tites.

Only do PSLV. SLV is unallocated silver and purchasing shares with them only furthers the manipulation... since the custodian to SLV for the actual physical metal is JP Morgan.

Thanks man, I appreciate it.

Go silver go! Metals look great to go.

Hedge funds are going big time on the long positions.

From what I have gathered, gold/GLD is manipulated just like silver but not as much as silver. The amount of shorts per physical oz isn't as much as silver. Silver is the king of short positions. The physical price of gold should also be higher as well. They paper contracts vastly out way the physical. The banks just can't have silver and gold go up because it hurts the confidence in the USD