**Maryland gold/silver dealer cannot source silver + Update**
This shop has been in business for 36 years and has great connections when it comes to buying. He cannot find any silver. Just a few weeks ago he was one of the few dealers with silver when all hell broke loose and now he is out and can't get any more at this time.
If this experienced coin shop owner/dealer can't find silver to buy -- how will you? Get out there ASAP if you've been contemplating buying before it is too late.
**UPDATE**
From a Canadian:
"I was out in Vancouver yesterday and was told by Border Gold I could only buy 2 x 100 ounce silver bars and 50 Canadian silver maple-leafs 1 ounce. If I wanted more I would have to wait for an UNDETERMINED period of FREAKING time. So buying silver at 1 of the only two decent places in Canada is a no-go unless its a very small order."
jewelry?
what is the scoop on jewelry? i saw some stirling silver jewelry at a Macy's department store marked down like 70% off, old stuff they were trying to get rid of. But it looked pretty good and was normally around $30....would it be worth it to buy this stuff?
I don't think you would be getting the spot value (to say the least) out of it, but maybe with this shortage as the price goes up it might be worth it? what do you guys think?
just don't give one bloody dime to DeBeers
Fortune Favors the Bold
make sure any stones you are purchasing are certified conflict-free by a reputable source- otherwise your money pretty much goes straight into the Rothschilds' pockets (and supports brutal militias in Africa)
Fortune Favors the Bold
I think they are looking at chains for the most part.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Jewelry has a huge mark-up so, even at 70% off,
they're still making money.
I don't know much about "investing" in jewelry except for colored diamonds.
Is the jewelry stamped?
Who will buy it from you?
I really can't say yea or nea. It's not my cup of tea. I would think jewelry will take a bit of a hit when you go to sell compared to a silver eagle.
Why not buy a coin instead? You will get more silver for your money.
Anyone out there have an opinion on jewelry?
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
oh yeah i am into coins
and have some (not enough though!) but i was thinking if you can't get silver otherwise, or if you buy it at 70% off and then the value goes through the roof it would be a good buy, especially if it ends up needing to be used. but you raise a good point, not a very wise buy if you have coins available. anyone else?
Our local dealer,
whom I spoke to today, has silver in the store, but his restock orders are 5 to 6 weeks out.
The last shortage of silver,
The last shortage of silver, in March, coincided with a significant drop in prices. Most likely these dealers reduce their holdings when they sense a drop in prices coming. Dealers make money by buying low, selling high... public loses their asses buying high and selling low. The public, "The Dealers Best Friend"
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"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence
This dealer waited until the panic a few weeks back and
sold out. Now he can't restore his stock.
The dealer in Vancouver is in the same boat.
While what you say might be true up to a point -- the dealers still need stock to run a business.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
So replenishing your stock
So replenishing your stock at $17 when you think it may be going to $14 is running a business?
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"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence
I'm not very experienced in
I'm not very experienced in these things, but as far as I can tell dealers buy below spot and sell above spot.
A large collectibles/gold/silver dealer in a mall where I live had $14 as their buy price for silver when the spot price was approx $17.50.
Buying below and selling above spot is how dealers make money.
There are signs and television advertisements all over the place around here by dealers wanting to buy gold and silvers. It's as if they can't seem to get enough.
...
Replenishing stock is the KEY to running a business.
They can't get silver. What part of that don't you understand?
I am not a client of the dealer in Maryland so there is no reason for him to tell me a BS story. I don't buy from him -- I live overseas and he knows it. It was a "heads up" from him.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Replenishing stock and
Replenishing stock and selling it at a lose is the KEY to bankruptcy.
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"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence
if you have NO silver what are going to be selling at a loss?
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Wow Lisa!
You seem so alone in all this tonight...Where is SIERRAHPBT when you need someone to help you get the message out...I feel so frustrated when people just don't want to open up and listen.
I wish I could help you in arguing....Alas...I'm still learning.
You're way ahead of most Americans kat.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Thank you Lisa
I thought I was missing that point as well....
What should matter is that you can't get any of it... wonder why..lol.
~Live life to its fullest, with an open heart, open arms and most important... an open mind~
I was on a silver forum
I was on a silver forum earlier today and read a few threads about other shops having trouble sourcing silver as well.
Could this be another shortage similar to what happened back in March?
The current price of gold and silver do not make sense considering the price of oil has been hitting new all-time highs for the past 10 days or so. $119 per barrel today... Take a look at all those oil to gold charts and it is obvious where the future prices for these precious metals are headed.
...
Makes no sense.
Well if that were really true, and Silver were somehow really "scarce", then how do you explain the market price of Silver plummenting...absolutely plummenting...over the last two months from around 21.8/oz all the way down to the low-mid 17/oz range-??
That's about a 30% drop in value.
We already explained this to you a few days ago.
But, at some point, you left the thread.
Silver is scarce.
The price that is reported on sites like kitco is the PAPER price of silver not the price for PHYSICAL silver. Check the prices for physical and you will see that it is higher than the spot price -- sometimes much higher.
I'm sorry LibertyBaby that you bought paper silver and that you are upset in the price dropping. A 30% short-term drop in the price of metals is not unusual and IS part of investing in metal. We have been trying to tell you that.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Can you elaborate?
I have purchased physical silver based upon the spot prices of the indexes. Who sells physical silver based upon another model. I would love to buy silver at the paper price and sell at the physical price. I would make a killing. Please share how this works. Please. Please.
LibertyBaby bought ETFs not physical silver.
Like buying a mutual fund.
Unless you have the coin in your pocket, you never really own it.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
As did I, Lisa, at least
As did I, Lisa, at least with my IRA that I did not want to cash out. In the event of a MAJOR economic crash, I will assume that it will go *poof!*, but short of that, it still should be fairly safe, or more accurately, as safe as a CD or any other such paper asset can be.
Something like that, where your choices are limited,
it makes sense. More sense than what most people hold in their IRAs.
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Speakthetruth, I think what
Speakthetruth, I think what Lisa and others are getting at is that there IS a spot price for silver at any given moment, but that is NOT the price that you will pay to a dealer, as any form of silver, whether bars or coins, is going to have a premium, which is a dollar amount or percentage that is added on to the spot price. For example, last week my local dealer was charging $19.90 for one silver Eagle, when the spot price at that moment was $17.90/oz. So, the premium per silver eagle was $2.00 per coin, or around 11%, which is typical. For bars, the premium at the same dealer is around 4-5%, and for "junk" 90% silver, pre-1965 US coins, around 2% over spot. I believe these are all fairly typical premiums for these forms around the country. Now when they BUY silver from you, however, they may pay the exact spot price value of your items, or perhaps a little more or a little less, depending on what you are selling them.
That is clearer
and if that is what was meant ok. But I didn't read it that way. My guy is $1.50 for coins and $1.00 for bars (over spot, of course). I forgot what it was with gold, but I'll ask him tomorrow.
In rereading the earlier
In rereading the earlier posts, it seems that it was implied that there are two different prices for silver, one for "paper silver" and one for physical, but that is not really correct. The big traders can trade basically at the spot price, but for us small guys buying from a dealer, not really, unless they want to give you a special deal on something. But there is no official paper vs. physical price --- or there is not yet, anyway.
That's what I
was trying to get to. For if that was the case, I saw a great market opportunity. But I figured that everyone else would have found this out before me, so the opportunity would have been lost. I just wanted to ferret this out. Cheers
read this
http://news.silverseek.com/TedButler/1207068209.php
and become aware.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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Where did LibertyBaby go?
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!
Nice post e-g
"If the real physical investment demand by small investors, that has dramatically tightened availability of retail forms of silver, spills over into investment demand of 1000 oz bars by industrial consumers and large investors, it will no longer matter that the manipulation has been ignored by the regulators. It will, quite literally, blow the lid off the silver market. Large users and investors may do well to pay heed to the small silver investors, who have handled the market beautifully over the years. The little guys have bought cheap and held for the long term. In silver, their record is second to no one."
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Lisa C.
www.women4ronpaul.com
Ron Paul "Sign Wave Across the USA" -- November 5th!