Silver Has Plummeted: Pull Backs Kill It For Small Dealers
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- Опубликовано: 3 окт 2024
- Silver Has Plummeted: Pull Backs Kill It For Small Dealers
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I am very fortunate to have a great LCS in my town. When buying from, selling to, or trading with him, I don't ever bring up premiums because he's just a man trying to run an honest business. He needs to make money in order for his business to continue for people like me to continue benefiting from having a place to go transact locally. For these reasons, I am grateful.
I've never found a dealer (coin shop) paying melt. Never!
I pay melt and I know a lot of dealers who do, some over melt.
Thank you for your industry insights. I value your expertise, time and effort. Excellent presentation. 😊
expect way more pull backs especially towards the election
if Trump wins silver will pull back to 25. if he loses and infaltion keeps steady expect it to stay at 30
I ONLY INVEST IN CERTIFIED PRE 1933 GOLD PCGS OGH VERY TRUSTED GRADING!!!
When I stacked, I did not begrudge my LSC making a profit. Profit helps ensure they will be there when you want to buy again.
Market Value is a term that I understand.
Don't expect "fairness" when you live on a prison-planet.
Victimhood is a bad place to be, you need to stop listening to yourself and not be a victim. You have control over that. I had to learn that a long time ago. I wasn't born into this.
@@CoinHELPu It is what it is.
@@sickntired2059 life is what you make it, some things you can’t control, but you can control your perspectives.
@@CoinHELPu Agreed...the information is out there. We just have to keep making the best of a bad situation.
@CoinHELPu right... most people have no problem learning from other peoples mistakes however they relentlessly fail to learn from their own mistakes
Great explanation!
As a smaller dealer, you pretty much have to keep an eye on the spot price all day long on trading days. You have no other choice but to bid low and raise premiums whenever the market draws back. As a stacker and collector, at least you have the luxury of allowing yourself to concentrate on a 6-month spot price chart to keep an eye on the long-term price trend. "Don't Panic!".
No panic here, but one does have to watch.
Sounds like a shopping opportunity. I had to give up on my Morgan/Peace collection for a while, was getting priced out.
I just bought 2 rolls of mercs. I'm happy 😊
My LCS has been around for at least 2 generations and 50+ years but provides the most atrocious service that how they stay in business is a mystery to me. You’ll walk in and they will ignore you even though they know you’re there. Then they act like you’re interrupting them and seem irritated and like they want the interaction over asap. Three times over multiple years I’ve had the same experience with them. They don’t do bullion at all and aren’t very competitive with numismatics. The world would be such a much better place if people were nice and courteous.
This is why I understand dealers buying at below spot. You assume all the risk and have to make offers based on said risk.
I dont trust the spot prices, just stick to what is comfortable for you as an individual. Look at the spot of 2020 around $12. None of the reputable shops or online dealers had anything in stock until it hit $22 again. Also the real cost is what the premium you pay is.
I don’t trust half these companies that spout greedy nonsense just to like their pockets a little bit more, like some people actually work and struggle to even pick up one coin, coin shop dealers need to be better people .
Yup, best I could get it for during intial Covid was $18. Paid $6 over spot. Hurt a the time.
Locals pull almost everything they have out of their display cases when the price falls off a cliff ... and then when you walk in and ask they tell you they got swamped with buyers and are sold out
Price rises and they pull all that inventory from the back room and stuff the cases again
I see a lot of crying here, if you want cheaper silver then become a dealer, it isn't hard at all. Just start buying and selling in your spare time, pick a business name, join coin dealers helping coin dealers, Roundtable, and start buying silver wholesale and then you will actually get to know dealers. Cause commenting like this is nothing more than victimhood. Wholesale buying is out there, but if you don't want to take the risk then you pay the guy who does.
Also, @Stoonad, don't tell me about working for a living, I've done that all my life. I've been down to my last nickel at the store and only need one more quarter to buy some salt. Guys like you don't know what you think you know about coin dealers. No matter how bad it got I never got online and blamed dealers for it.
@@CoinHELPu its really easy but they would have to put in some effort .I have a huge network of buyers and a few sellers, if you have good people skills.when they like you ,that can help.
Not only a collector but scrap dealer could be a double trouble silver is going down because of industrial output is lower prices are going to crash
Plummeted? $30 was once resistance and now it’s the new support.
It would plummeted below $30 after being at over $32, that is a large swing in silver.
It’s still up almost 11% over the last 4 weeks. It’s pulled back to 30 twice and it’s holding. Im sure you’ll be just fine in the long run.
@@ian8762 you’re taking the video wrong. I’ve been at this all my life. I will never trust silver. It did this in 2021 and August 2022 it was $18. I know how to survive, my video is short term thoughts and explanations, not me worried and going out of business lol
Spot shmot. The price of physical is all that matters. No other commodity based product is tied so closely to the spot price as silver bullion. Enough already.
Silver is a slow investment.
Thanks Daniel. I agree with you. You cant have money and inventory tied up and lose on it. You have to do what you have to do. It's allot of work keeping an eye on spots then taking time to buy or sell. I figured it would pull back back a bit but was hoping it wouldn't go below $30. Now that it has, I do believe it will go a bit further down. I don't live off numismatics so I hang on to it, your case is much different. Nothing more then what I like to see is an honest hard working person like you to succeed and provide.
And just like that. Silver is back up over 4% today! Over 31 per oz. signs are still bullish for the metals. Long term play for me. ✌🏻❤️🇺🇸🥇🥈🙏🏻🌎
And it will be back down.
@@CoinHELPu market fluctuations are to be expected.
@@andrewmacomber1638 never once said they’re not expected. My entire video highlighted that. I guess I am going to have to make more and specific points in my videos because so many seem to misunderstand what I am conveying. I literally show past fluctuations.
I kinda hope it goes back down to less than 18 again so I can stock up some and then hold on to it for a while till it goes back up again
siiiigghhhhh...I knew literally nothing about silver stacking at the outset of the plannedemic. I only began to understand a little bit the end of 2021 and moving into 2022. What I've got I'm holding on to for the long haul.
Investing in silver bullion involves taking risks. I used to speculate as a collector and now, as a small dealer, I buy it and sell it making a small profit on each transaction. Much better this way. Dollar cost averaging is a great idea. You buy a little each week and just keep buying regardless of spot price.
I keep my metals no matter what🤷♂️
I have also never sold anything in my collection.
yes, but you are not a dealer, a dealer of anything goes out of business pretty quickly if they stop selling
I’m going to be closely watching this space! Thank you for this, I know this isn’t investment advice, but I was going to buy right now…until you said it will go down again!
You buy the dips, you don't wait for it to go down. You do this long term, my video is about short term buying and selling for a small coin shop.
Wow shocker
I have a few silver coins, but I make most of my money from clad and Lincoln cents.
"Plummeted"? I looked at silver 20 minutes ago and it's hovering around $30 ozt. That's $5 above the usual $25 water mark. Isn't that a *good* thing, overall? I'm hoping that's a new normal. What I *don't* like is that my LCS is only paying 14x face for 90% silver coins when melt is 21.44x - and I have a good relationship with them. At least, I think I do. 🤔
Yes, it plummeted, but not plummeting. $2 down from a week ago is huge in silver.
Good thing spot price is for paper contracts not real metals.
I've been investing in silver for nearly 50yrs. Silver has Fast n Furious 10% pull backs and sometimes 20% pull backs. Stackers and Investors please understand LCS Cannot pay spot and stay in business paying spot after a HUGE run up in the silver price. They know 10%-20% pullback is around the corner.
I agree, but it stinks on the pull backs dealers increase their sell price over spot. The cheapest I got any silver last 2 years was $23 even though it hit $20.
@@UneducatedGeologist 2018 silver was $15 and selling for $15.50
@@buyystocksYes I got alot in 2018 and 2019 for $16 to $18. Dealers margins were razor thin
And by the time I am watching it is already back up to 30! It's been all over the place.
Plummeted? I don't think that means what you think it means. Still over $30. That's hardly a plummet. There are always pullbacks as people take profits. Never a straight line in either direction. Silver is manipulated by big banks. You can't win against them short term. Long term is different.
In 5 days it went from $31.42 to $29.38, that is a plummet, just because it rebounded after the video was published doesn't take away from the fact that's a steep drop. $2.12 is billions of ounces sold off in paper, but it's still a drop and it still effects small dealer shops on their buy prices, especially when your profit is .50 an ounce and it drops .65 cents in a day. You're missing the point of the video being stuck on one word.
@@CoinHELPu we can agree to disagree :)
You can’t argue math. It dropped fast and that is a lot for silver. So you’re disagreeing with the facts. I used plummeted per the dictionaries and the English lexicon.
Silver shakedown is here. Stop losses have been triggered and the dipping point of the key psychological level of $30 has newer institutional investors demoralized. If the copper market can sustain itself even with all the exchange restrictions and raised margin requirements, then we'll be good.
Silver is a long-term hedge, gold is nice if you know how to read the market, assayer might be more lucrative if you live in a mining district, and have a decent processing center
Thanks for the sensible outlook.
This is the dump and the after this is when it's going skyrocket
I've heard that for decades, no one has a crystal ball. It might go back up, but it will pull back again.
I'm working on am interactive collection spreadsheet. This gave me a great idea to add a melt value tab so that I can just plug in melt value and have a formula in place to keep track. My collection has become more and more numismatic than bullion but atleast I'll know the bottom value for the content this way.
That sounds very interesting could you possibly send me example of it so that I can start doing that with my collection?
High volatility up and down both ways must be hard to navigate. Especially when the prices move so much in one day, or a fraction of one day, that are no predictors of what the future price will be in a year or 10 years.
EXACTLY why I buy Numismatic Coins ONLY!!! I could care less what the Silver Spot is!!
With you tbh, I think stacking is like marginally less stupid than bitcoin
@@Phlinn96 Crypto currency is a ludicrous racket if you know how to trade it. I can't wrap my head around it, but I know other people who've done extremely well.
I can't hold silver. I'm a spendthrift. I need objects. I've always liked collectables because I know they're always worth some money. So I'm with you on numismatic items only.
Because when SHTF theres going to be people around with money to burn to pay a ridiculous premium over spot for your fancy little coin? thats foolish
@@Yankee_Doodle_Stacker - I have no clue what that comment means?
I have the feeling the future's buyers will keep it above $28 till and possibly even after this November election. Even with that when you're selling/buying thousands of ounces per transaction a dollar moves the numbers drastically.
Great video Daniel! Is the melt price the same as the spot price?
Spot is what silver is now, melt is how much a coin is worth in silver by weight.
What is your opinion on platinum and palladium? Palladium is currently near 5 year lows. Do you think platinum will ever recover to its historical value at prices greater than gold per ounce, or is half the gold value the expected new normal?
It’s kind of greedy when you make money off old people and young people who know nothing on premiums, and then turn around and say oh it dropped a couple dollars it’s so bad for companies…. Mixture of greed and not understanding premiums
Most people who buy and sell silver to me understand premiums, sounds like you don't understand the bullion business. You're more into being a victim than a solution or educating people.
They can't provide the service for free. They aren't there to buy your silver. They're there to sell it for you. You walk away cash in hand. They now have to find a bunch of buyers before the price drops. That and keep the lights on/payroll so you have a convenient place to sell your goods. It's a totally fair business. I've been going to people like Daniel my whole life and never felt taken advantage of.
been waiting for this, ty Dan, everytime $30 hit, it has had a big pullback, the other two times, maybe this will settle $28-$29.yes no one knows.
Turd Ferguson said this would happen very recently. He also said silver would be off to the races in short order.
They keep guessing and eventually someone is going to call it, but no one has a crystal ball.
Good info Daniel, thanks
Silver Has Plummeted: Pull Backs Kill It For Small Dealers
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Every dollar counts to keep the lights on👍👍
The only saving grace, as in most industries, is that the overall historical trend, is a sweeping upward line (based on the trend for the last 5 years at least)....looking at Silver from 6/9/19 to now and all June pricing values for each year in between, Silver is almost double now what it was back in June of 2019, and the only down year was likely attributable to the Pandemic. Using the rule of 72, that means that Silver as an investment(not as a dealer), seemingly for the last 5 years anyway, has yielded approximately almost 14.5% return.
Look at how silver did after 2011, this last run was Covid fueled and I don't believe sustainable as it never has been. We will see. It dropped to $12.60 an ounce in March 2020 before surging. It's is too manipulated to be predicted.
hey Daniel..hope alls well...i mentioned a friend of mine who has a 1776 Continental currency 1$ pewter coin..he's had it since he was like 6yrs old.ill try and email you also..but he's interested in bringing it to you so you can check it out and give him the advice he needs to further his research..and I truly trust you. ..thanks..and like I said I will either email you or call...and it doesn't say copy..size and weight is accurate to the books
plummeted is an exaggeration, you mean it has just stopped the upwards price adjustment temporarily. the best you can expect these days is no performance at all since it doesn't even keep up with inflation in the past 3-5 years or the past 10-15 years even. how about the price of silver adjusted for inflation since commodities largely stay the same while actual prices for services soar.
any stock nvidia gamestop or walmart would be better to hold than metal. I still sleep better having some value stored in silver and gold. It has held its value since biblical times, well before this country was founded and will hold value after all this, if it collapses or merges into something else.
It dropped almost $3, do you know how much that is if compared to gold? Do you know how many ounces it takes to drop silver like that? It happened in short order as well, so that IS a plummet. This is not a correction of silver prices and that is where you're hung up, $30 isn't the new low. I don't have wishful thinking, I look at the stats and the facts, based on years in this business.
Now is the time for stackers to accumulate, silver is bottoming for a long term run up to much higher levels. Dealers should buy now and try to slow their selling for the next week or two.
You never slows sells as a dealer, bad advice.
My LCS buys my silver for $5 under the spot price.
I'd find a new buyer
Mines been offer $29 ever since it broke $30 and even when it was $32.40. Kinda sucks.
I want to learn about coin how to sell it
I been into coins coming up on 20 years now. If you find out, let me know 😂
Thanks @CoinHELPu