Uhh, You see this?

[Awoke]

http://www.kitco.com/images/live/nysilver.gif

[iOWNme]

For newbies to silver like me, if i am going to buy some bars, is spot price the going rate? or is it a bit over spot?

It seems everything is down right now, metals that is.

[mamboni]

For newbies to silver like me, if i am going to buy some bars, is spot price the going rate? or is it a bit over spot?

It seems everything is down right now, metals that is.

Bastards at GS are naked shorting and trying to dump on Gold and Silver. SOBs should be in jail for market manipulation.

That said, I would wait to but if I were you - I don't think we've hit bottom just yet.

[Heimdhal]

For newbies to silver like me, if i am going to buy some bars, is spot price the going rate? or is it a bit over spot?

It seems everything is down right now, metals that is.


Chances are you'll pay OVER spot unless you get a REALLY good deal on some super generic stuff. If you get at spot for anything big name, like Eagles, maples, etc, buy everything you can, cause usualy they go for $1+ over spot.

[Heimdhal]

For newbies to silver like me, if i am going to buy some bars, is spot price the going rate? or is it a bit over spot?

It seems everything is down right now, metals that is.

Bastards at GS are naked shorting and trying to dump on Gold and Silver. SOBs should be in jail for market manipulation.

That said, I would wait to but if I were you - I don't think we've hit bottom just yet.


I agree 100%. Well touch the floor again soon. It is the nature of a nealy 100% manipulated market.

[Apocalypto]

It's a rollercoaster ride - and I like it. Look, you either believe in gold and silver or not. That being said, you have to have the stomach to own the stuff, regardless of when you buy. No matter what price you buy at, sooner or later spot will drop below that. You just have to prepare yourself for the ups and downs, and hold on. At the end of the day, you either hold PMs - or not.

[Awoke]

Good luck finding even scratched-up generic wafers for just +1$ over spot. The asshole that runs our local bullion shop is charging an $8 spread on Silver Canadian Maples and SAEs.

The street price does not match the paper price.

See post #35 here, in this thread (http://gold-silver.us/forum/general-discussion/newbie-here/msg39516/#msg39516)

[Book]

I remember when Gold dropped rapidly from 720 to 540 for no reason whatsoever.

:oo-->

[Heimdhal]

Good luck finding even scratched-up generic wafers for just +1$ over spot. The asshole that runs our local bullion shop is charging an $8 spread on Silver Canadian Maples and SAEs.

The street price does not match the paper price.

See post #35 here, in this thread (http://gold-silver.us/forum/general-discussion/newbie-here/msg39516/#msg39516)


Thats straight up theivery man. Check out bulliondirect.com Before the price run, in Feb, I bought a 10 oz CMX bar for .30 cents over spot. The eagles and maples tend to run about $1.50 or so over spot, where as the CMX seems to be under $1.

Heck even apmex and shipping would be cheaper than an $8 spread. Thats crazy.

[Dirty Harry]

What I see is Silver DOWN .77 and still well above $18.

:laugh

[Awoke]

That's why I referred you to post #35 in that other thread....

I address the fact that if you buy through the dealers you mentioned, it is on paper and there is a record. (Taxes, etc)

If you buy from a street-thug bullion shop, you pay cash and have no paper trail.

You just need to decide what is more important to you: Annonymity VS. stacking for taxing.

[iOWNme]

Thanks for the info guys....

Question: Why do i care if i pay a couple 'dollars' over spot? I mean, they are just worthless pieces of paper? Just asking....Im heading down to a place today, so we'll see what happens.

[Heimdhal]

That's why I referred you to post #35 in that other thread....

I address the fact that if you buy through the dealers you mentioned, it is on paper and there is a record. (Taxes, etc)

If you buy from a street-thug bullion shop, you pay cash and have no paper trail.

You just need to decide what is more important to you: Annonymity VS. stacking for taxing.


I missed that reponse in that thread. Sorry I didnt see it, I'm still getting used to this.

I hit up local cash and cary coin shows, and even then the spread is much over than I've seen online, but you're absolutley right about the paper trail. At the same time, theres only taxes on what you sell, and thats only if they want to follow the paper trail all the way down. The bulk of my metals were bought at local coin shows, cash in hand.

But I dont have nearly as much as even a modest GIM'ers stash and I never buy more than a few 100$ worth at a time, simply because I cant afford more than that. So even online, Im well below the tax bracket, and when/if I sell, you can be sure there wont be any paper involved ;)

I am not quite so worried about the paper trail regardless though. Since we are full blown fiat, I would highly, highly doubt any metals confiscation scenario like we've seen before in the states (Since that would be admitting that gold IS money and fiat is crap). If its a tax, well like I said above, they can only tax what they know I have, and thats only if they know I sell it. ;)

[Heimdhal]

Thanks for the info guys....

Question: Why do i care if i pay a couple 'dollars' over spot? I mean, they are just worthless pieces of paper? Just asking....Im heading down to a place today, so we'll see what happens.


Because the grocer, the electric company, the gas station all take those useless peices of paper in exchange for things and will for the long foreseeable future. We can dream of an honest money system, but the fact is that for a whille yet, we wont have one.

Buying and holding is good, and I suggest everyone do that as a part of their INVESTING, but theres nothing wrong with taking a profit form your metals either, and yes that means taking more PAPER than you paid, so getitng the best spread possible is the best way to go.

[Awoke]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.

[StackerKen]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.

that is strange awoke.
But the kitco ticker says the low for to day is 17.92



the dollar is way down ..and so are PM's?

[cigarlover]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.

that is strange awoke.
But the kitco ticker says the low for to day is 17.92



the dollar is way down ..and so are PM's?


hmm, After I saw this I went to shitko and the low of the day was 16.67 but now it is indeed 17.92

[Awoke]

Strange. I wonder if it dipped and they are hiding it, or if it was just a software glitch or something....?

???

[MAGNES]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.


This has happened a least twice in the past,
foreshadowing a major drop, I even have
a post like that in a big thread I did on
Crimex Shorts. I saw the setup to this
battle and drop, let's see how real they are
like other years, major drops if this is it.
Falling off a cliff stuff, this is what the
closeout operation looks like. On gim
I posted about a setup too that came
to be, did that last summer too at
900 and was wrong ;D, lol . Lost my gains.

Fighting Gold at 1220
http://gold-silver.us/forum/gold-silver-precious-metals/fighting-gold-at-1220/

[Ash_Williams]

For newbies to silver like me, if i am going to buy some bars, is spot price the going rate? or is it a bit over spot?

Spot price is for huge bars, the 1000+ oz ones.
Expect to pay a bit over spot for 100 oz.
And then more for 10 oz
And then even more for 1oz.

If you want to get an idea what your dealer is taking as the spread then first ask him how much he will buy your 1oz bar for.

The kitco chart just plots the numbers it's given, it doesn't realize if something is silly for a moment. One reason for sudden really low trade on any market can be an odd quantity traded. You want to sell 101 things when the standard unit of trade is 100 things and that last one ends up going for a wonky price. The ticker doesn't know how much was traded at the wonky price, just that a trade happened so it tries to show it.

[Awoke]

If you want to get an idea what your dealer is taking as the spread then first ask him how much he will buy your 1oz bar for.


Quoted for truth and emphasis!

[iOWNme]

For newbies to silver like me, if i am going to buy some bars, is spot price the going rate? or is it a bit over spot?

Spot price is for huge bars, the 1000+ oz ones.
Expect to pay a bit over spot for 100 oz.
And then more for 10 oz
And then even more for 1oz.

If you want to get an idea what your dealer is taking as the spread then first ask him how much he will buy your 1oz bar for.

The kitco chart just plots the numbers it's given, it doesn't realize if something is silly for a moment. One reason for sudden really low trade on any market can be an odd quantity traded. You want to sell 101 things when the standard unit of trade is 100 things and that last one ends up going for a wonky price. The ticker doesn't know how much was traded at the wonky price, just that a trade happened so it tries to show it.



Thank you sir! Great info....

[millwright]

Could that the huge spike have been real. My take is that the Bansters spiked it down momentarily to cover thier shorts.

Didn't the same thing happen a few weeks ago in the broader market? I believe it was P&G that spiked down and triggered all the stop losses only to spike back up seconds later.

[1970 Silver Art]

Yeah Silver can take you for a wild ride. The only good thing about silver going down today is that you can buy it for a lower price IF you can find some AND the premiums also fall along with spot silver.

[Gaillo]

The only good thing about silver going down today is that you can buy it for a lower price IF you can find some AND the premiums also fall along with spot silver.

There's no "silver lining" in this for me... as of about 2 months ago, my local coin dealer has stopped tracking spot price drops with corresponding physical price drops, although he has increased his prices a few times as spot has continued to go up.

I sent an email to him about 15 minutes ago, and asked if (since the price of Silver has gone down almost a dollar) he was going to drop his bullion price on gold and silver. I just received the reply email, he said no.

I think the dealers are starting to get wise.

[bellevuebully]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.


Glitch.....if you happened to be looking at the index values at the same time, you would have seen the Dow up 11 000 pts.........not bad for a day on the Zimbabwean stock exchange.

[MNeagle]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.


Glitch.....if you happened to be looking at the index values at the same time, you would have seen the Dow up 11 000 pts.........not bad for a day on the Zimbabwean stock exchange.


Now THAT would be one heck of a screen shot!

[StackerKen]

man the USD took a dive today....

seems like that would have been good for metals...

[PatColo]

USD's been rallying past couple months, and so have metals, so I wouldn't read into today's divergence, just a blip in the larger trend of metals breaking free, making new highs in all paper currencies.

daily, weekly silver with some trendlines,

[SLV^GLD]

Good luck finding even scratched-up generic wafers for just +1$ over spot.
No one is moving anything in Buy n Sell yet we have people crying about the premiums. If you were buying from Buy n Sell yesterday then you were paying WELL under what Apmex or any local guy will cut you. I don't want to hear the whining. It's BS if you can't even use the resources you have at your disposal.

Even right now, at theses rockslide prices, you can pick up the exact same silver and gold coins and bars that you would buy from Apmex shipped to your door for less than the list price without shipping is on Apmex's site.

[greenbear]

Strange. I wonder if it dipped and they are hiding it, or if it was just a software glitch or something....?

???



Probably just a "fat finger" error. ::) IMO, more likely short covering like Millwright said. Great catch, thanks for posting the charts.

[Awoke]

* Happy to see your old Avatar back *

[MNeagle]

* Happy to see your old Avatar back *


Me too!!

[ximmy]

OK, I have come to the realization that not everyone saw what I saw.

Luckly I took a screen capture of the graph as I saw it, when I started this thread. I believe you will understand once I post that pic....

Anyways, I guess it just must have been a glitch at the time.


That's no glitch, it's a manipulation. anyway it doesn't matter what they do... in due time, gold and silver will outperform the dollar on the streets, and the graphs will have to support that reality..

[1970 Silver Art]

* Happy to see your old Avatar back *


Me too!!


Me three. The Green Bear is much easier on my eyes. "Abby" was hurting my eyes. :D :D :D ;D

[kregener]

The Plunge Protection Team is working overtime to keep we the people from fleeing to gold and silver.

No, I mean REALLY burning the midnight oil.

[greenbear]

Awoke, MNeagle, and Silver Art, you are welcome. The polar bear is much easier on the eyes even though he has an obvious algae problem.