jim4silver
Silver Member
- Apr 15, 2008
- 3,662
- 495
File this under take it for what it's worth. Was talking to one of my coin dealer acquaintances and talked about silver/Pms in general. This person generally prefers gold to silver for his personal investments from what he has told me in the past (probably 70/30 gold to silver). When I recently spoke with him, he had mentioned making a significantly large purchase of silver for himself. He did not say how much he bought, but I imagine it was probably 6 figures worth at least. He believes (based on his discussions with other very large dealers at the wholesale/national level) that silver is going to make another run to and maybe beyond 50 later this year.
He mentioned how the premiums on all types of silver are going up at the wholesale level and have risen significantly percentage wise just in the past month or so, even as the paper price of silver has been dropping.
As far as silver correcting, he said anything is possible, but a lot of physical buying is taking place around the world and lower prices will not cause people to sell what they have out of fear of crashing prices, but want to buy more instead, which will cause the physical supply to diminish even more (at least among the big level buyers).
None of what we discussed even considered the crazy war type situations unfolding around the world, but instead had more to do with the financial problems going on everywhere-debt, derivatives, etc. Of course any new conflicts that involve us or Iran/Syria, would seem to be further reason for PMs to rise in my opinion.
I normally don't buy much from this guy anymore because his prices are higher than some others I know, but he has been in the business for many years and I believe he was not just BSing as we talked about these issues. Doesn't mean what he said will turn out to be true, but we will have to see.
I plan to keep buying as long as I get some extra cash, which unfortunately always seems to happen when silver is at the higher end of the range than lower, as it is today.
Jim
He mentioned how the premiums on all types of silver are going up at the wholesale level and have risen significantly percentage wise just in the past month or so, even as the paper price of silver has been dropping.
As far as silver correcting, he said anything is possible, but a lot of physical buying is taking place around the world and lower prices will not cause people to sell what they have out of fear of crashing prices, but want to buy more instead, which will cause the physical supply to diminish even more (at least among the big level buyers).
None of what we discussed even considered the crazy war type situations unfolding around the world, but instead had more to do with the financial problems going on everywhere-debt, derivatives, etc. Of course any new conflicts that involve us or Iran/Syria, would seem to be further reason for PMs to rise in my opinion.
I normally don't buy much from this guy anymore because his prices are higher than some others I know, but he has been in the business for many years and I believe he was not just BSing as we talked about these issues. Doesn't mean what he said will turn out to be true, but we will have to see.
I plan to keep buying as long as I get some extra cash, which unfortunately always seems to happen when silver is at the higher end of the range than lower, as it is today.
Jim
