# Silver prices tank, and now no one wants to talk about it?



## torscot (Nov 11, 2015)

Oct 27th the last post on silver! 

With the price going down every day I figure this should be one of the busiest topics. I am buying scrap sterling by the kilo right now and processing it and burying it. lowering my cost per ounce on the stuff I already have. 

It's amazing when the price goes down no one wants this. Scrap stg is so easy to buy right now, and some dealers are discounting to me just to turn it around and get rid of it. 
When the price is going up, or at ridiculous peak everyone's on the band wagon. gotta love people.

Comments?

Rob.


----------



## kurtak (Nov 11, 2015)

You hit the nail on the head

Now is the time to buy & hold what nobody wants

Then when it goes back up (& it will) & everybody wants a piece of it - you have "just what they want" :mrgreen: 

Kurt


----------



## resabed01 (Nov 11, 2015)

Silver is down but so is gold. I'm focused on buying as much gold karat scrap as possible right now. I can already feel next summer will be a busy processing season.
I like to buy silver bullion, less fuss and it stacks nicely. With the price down I may have to place another order.


----------



## Grelko (Nov 11, 2015)

kurtak said:


> You hit the nail on the head
> 
> Now is the time to buy & hold what nobody wants
> 
> ...



I just bought a couple rounds the other day, but I'm actually waiting to see how far it drops before bottoming out :lol:


----------



## alexxx (Nov 11, 2015)

Just keep on stacking as much as you can...


----------



## torscot (Nov 12, 2015)

Grelko, That's the big question isn't it. What will be the the bottom. There's a huge oversupply of silver on the market, but there is a shortage of processing capabilities. Hence the higher prices for the 1 oz rounds. So, it wont be going up for a while, nor IMHO will it get below $11 US . But the prices on 1 0z round's will not come down much more. Manufacturing costs. The demand for those right now is huge, They're selling for way over market, and they can't supply enough of them. Example, on Ebay, (It's a great market indicator) you can see on some of the bigger bullion sellers, their hourly, and daily sales. A couple of them have crossed the 500 units sold a day mark for 20 coin rolls. (It's so nice that they show how many sold). When this glut of actual metal gets used up, it could prove interesting.

Watching the market, it keeps moving (manipulation) approx 10% up and down. Someone, somewhere is making millions, trading paper or electronic silver. it's these people that are holding the market down. because the don't have to come up with the actual metal. Totally a false market with no bearing on reality. It's a crime. If one of these guys ever had to come up with the Bullion.................. Still, I think silver is a better buy than gold. Right now, give or take it has to get to $ 30 oz to double up, Gold, $2170 (USD) to double up. Mind you, gold is pretty.........................Silver is just heavy. 

I'll keep buying my scrap below spot and turning it into pretty silver crystals. When the day comes to sell, you'll get the same for that as the currently over priced 1 oz rounds.

Happy to see people are still reading the silver section, and I am not alone!

Rob.


----------



## resabed01 (Nov 12, 2015)

Placed an order today for some silver bars.... my stack is growing.


----------



## rickbb (Nov 12, 2015)

With no funds to buy with, I'll keep getting from old film. It's work, but keeps me from sitting in front of the boob tube.


----------



## Grelko (Nov 12, 2015)

torscot said:


> Hence the higher prices for the 1 oz rounds. They're selling for way over market
> 
> I'll keep buying my scrap below spot and turning it into pretty silver crystals. When the day comes to sell, you'll get the same for that as the currently over priced 1 oz rounds.



The last time I bought silver rounds, they were $1.69 over spot "for the loose/junk rounds", and silver has gone down another dollar since then :roll: 

Talking about "turning scrap into silver" I get scrap metal alot, so let's say I get a washer and dryer, I'll tear them apart, take them to the scrapyard, then go right up the road to the jewelry store and get some silver. 

I've also been known to go out and "trash pick" now and again. That's the real version of "turning trash into treasure" people always talk about. 8) :mrgreen:


----------



## Golddigger Greg (Nov 12, 2015)

Up here in the Great White North, there are two ways to get upside down on silver quickly; the premium is a whopping CAD$5.30 per 1oz Mint round online, more if you order at the tellers window. The other factor is the exchange rate @ 1.3282. Even if the silver price remained flat, it is a gamble on whether the dollar will eat your money. 

I've been buying as the price has been dropping to average my price per ounce down to what I can currently get rounds for at the bank, but I need to get it lower yet to feel comfortable.


----------

