# Silver dropping like a rock today



## Woody

Dumping paper silver is rocking the market. I can only hope it hits the mid 20's so I can stock up again!

http://www.silverdoctors.com/raid-90-million-ounces-of-paper-silver-dumped-to-smash-silver-towards-30/


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## Jim1590

down to 30 bucks. $ is tight but if it hits 25, I will have to get a few ounces. personally I would love to see it bottom all the way to single digits


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## GrinnanBarrett

I agree, let it drop and then buy it. Buy junk silver in Dimes and Quarters. Look for the idiots to panic sell and drive prices down before the real investors jump in to buy it up. Precious metals need to be held by you not someone with a vault in NY. GB


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## FrankW

I've been wanitng to buy but been waylaid by a long work trip.
Looks like it mith be fortuitous after all.

I will buy in 4 weeks when i get back, lets see what its then


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## Caribou

This is interesting, the dumping of "paper silver" creates a buying opportunity to buy the real stuff.


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## invision

Caribou said:


> This is interesting, the dumping of "paper silver" creates a buying opportunity to buy the real stuff.


Yep, it seems that way... But, I a, interested to see what goes on at eBay... How much people will pay over spot...


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## WWhermit

What's a good source to buy silver, in ounces or bars?

For that matter, what's the most accurate site to check silver prices as well?


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## Gravlore

We are nuts to think that physical would mirror paper if it were in single digits. The shortage would be insane. When it dropped to the mid 20's there were shortages of up to 6 months wait.


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## invision

WWhermit said:


> What's a good source to buy silver, in ounces or bars?
> 
> For that matter, what's the most accurate site to check silver prices as well?


I get from many places - local retailers and online...

Kitco.com gives up to the minute spot prices...


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## invision

Dropping? But look at this - HBSC raises estimate average by a $1 to $33/ounce for silver for 2013.... If it drops, I will bet it goes flying backup in 14 days....

http://www.kitco.com/reports/KitcoNews20130213DeC_9am.html?sitetype=fullsite


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## VoorTrekker

Another is APMEX.com American Precious Metals Exchange, Oklahoma City. $2.49 over spot. Personal checks/credit cards/bank checks for payment. Sent USPS and requires signature.


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## jsriley5

I have used Merit Financial (www.meritfinancial.com) But if I had been a member here first I'd probably have tried JM bullion who is a supporter here. And at least one member here has tried them and gave a favorable report. Just sayin. If I am able to buy again I will likely support our supporter.


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## Woody

invision said:


> Dropping? But look at this - HBSC raises estimate average by a $1 to $33/ounce for silver for 2013.... If it drops, I will bet it goes flying backup in 14 days....
> 
> http://www.kitco.com/reports/KitcoNews20130213DeC_9am.html?sitetype=fullsite


Great, that gives us two weeks to buy a little!!


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## Marcus

I recommend this fellow for deciphering the possible short-term price action of silver: http://seekingalpha.com/author/avi-gilburt

"My lower targets still remain valid - 28.67, 27.98, or as deep as 26.87. I am shorting silver in the very near term as a short-term trade."
"But, I am not a foolish trader, as I still maintain a sizable long-term long position in the event the parabolic rise begins sooner than I currently expect, as I am expecting a significant low to be put in the near term. I recognize my fallibility as a human being, and understand the larger trend, for which I am prepared."

He expects silver to hit $60 within a year.


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## hiwall

I see gold and silver are still dropping.


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## BillS

I buy my junk silver coins from this place:

http://www.providentmetals.com/coins/us-silver-coins/coin-90-silver-us-junk.html

I don't trust bars. Bars and one ounce coins can be counterfeited.


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## Padre

What a catch 22: sell paper> price falls> people buy physical> making your paper worth even less because while the paper rises in "theoretical value" the cost of covering that paper, if you don't have the silver, has gone higher with demand (that's if you can even find the silver to cover the paper). Unless people start believing that paper is "safer" than metal the paper rackets days are numbered.


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## Immolatus

Is there even a limit on how much paper there is? Indefinite rehypothecation? I also said somewhere on here before that I think the lower limit would be about $24, based on my readings, not on actual research. I'd have to back up the truck at that point.
Note: Any silver I may have had has long since been lost in a terrifying boating accident.


> What's a good source to buy silver, in ounces or bars?


First, your local coin store, second, I'll say jmbullion, since theyre a sponsor here.

EDIT: I think the reason for the drops is the options expry, nothing else.


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## PackerBacker

First guns and now silver.

I think we should ban these dam boats. Just look at all the freak boat sinkings lately.


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## goshengirl

PackerBacker said:


> I think we should ban these dam boats. Just look at all the freak boat sinkings lately.


Time to invest in dredging equipment.


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## Tacitus

I bought some junk silver today...Mercury dimes and such. I also bought a few Silver Eagles.

Anyone have any ideas on which one is best?

Dimes better for barter if the SHTF? Silver Eagles better investment tool if no SHTF?


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## invision

Found this on kitco today...


Market Nuggets: Barclays: Fund Withdrawals From Commodities Sector Slowing
Friday February 15, 2013 1:22 PM

The withdrawal of funds from the commodities sector appears to be slowing and could be underpinned by inflation expectations, says Barclays Capital. Assets under management have topped $400 billion for the seventh straight month as price appreciation more than offsets a modest outflow of investors in January, the bank says. "Commodity indices have seen the biggest outflows in the past 18 months, but that outflow has slowed substantially recently," the bank says. "If the year-to-date trends of better returns and lower correlations with other assets persist, then it may not be long before index investment flows turn positive again. Inflation expectations are picking up again as policymakers signal greater tolerance of rising prices; this could also prove supportive for commodity investor flows." The bank says there have been few obvious trends for commodity investors to latch onto, but it still favors a long position in palladium.


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## invision

Tacitus said:


> I bought some junk silver today...Mercury dimes and such. I also bought a few Silver Eagles.
> 
> Anyone have any ideas on which one is best?
> 
> Dimes better for barter if the SHTF? Silver Eagles better investment tool if no SHTF?


Good buy... I think in regards to quarters and dimes, either will work, I have try to keep even between quarters and dimes, then halves are about the same ratio as silver eagles...


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## FrankW

I htink SHTF both american eagles and candian silver dollars will be good as they are widley recohgnized by everyone to contain an ounc eof silver.
yes the denomitaion is abit big but I really lilke that its so easy to get them accpetd. 
In a SHTF society a nice shiny big coin like that that says 1 troy oz of .999 silver on it will be quite useful IMO.


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## hiwall

BlueZ said:


> I htink SHTF both american eagles and candian silver dollars will be good as they are widley recohgnized by everyone to contain an ounc eof silver.
> yes the denomitaion is abit big but I really lilke that its so easy to get them accpetd.
> In a SHTF society a nice shiny big coin like that that says 1 troy oz of .999 silver on it will be quite useful IMO.


I think metal that is stamped "223" and "9mm" will also be quite popular.


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## k0xxx

Part of the reason for the drop in metal prices (IMHO), is related to the dollar index. Metals prices based in US dollars, generally have an inverse relationship with the the index. As the dollar gets stronger and the index increases, the metals decrease in relation. The dollar index increased as the devaluing of the yen was continued, and the metals (based in US dollars) decreased.

I would expect that if the current currency war heats up, that there could be more swings in prices. I am buying as I can on all of the dips since, in the long term as we continue to debase out currency by printing more, prices have nowhere to go but up.


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## invision

k0xxx said:


> Part of the reason for the drop in metal prices (IMHO), is related to the dollar index. Metals prices based in US dollars, generally have an inverse relationship with the the index. As the dollar gets stronger and the index increases, the metals decrease in relation. The dollar index increased as the devaluing of the yen was continued, and the metals (based in US dollars) decreased.
> 
> I would expect that if the current currency war heats up, that there could be more swings in prices. I am buying as I can on all of the dips since, in the long term as we continue to debase out currency by printing more, prices have nowhere to go but up.


Totally agree with you, I am hoping to see silver drop say to $23.50 given most purchases are $1.50 over spot, then I can do a nice even $1000 purchase of some eagles...


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