Are we mostly buying each other's silver?
 

In general, are we mostly just buying each other's physical silver? I understand that new silver bars and rounds are being minted all the time, but in general, is the physical silver out there really just changing hands of people like us? What are the chances that the scratched silver round I would sell today would be melted down and used as an industrial metal in medicine or what ever?

A while back I sold off all my physical silver. (Dum thing to do.) When I bought silver back from him, some of the bars I sold him I got back again.

How much do physical silver guys like us effect the spot price of silver?

Re: Are we mostly buying each other's silver?
 

Boy, if that were true, then we will all be the new Aristocracy when silver contracts begin to default. I better start looking for my VA estate now...:coolbeer:

Re: Are we mostly buying each other's silver?
 

I don't think us physical buyers can affect the worldwide price of Silver, but I am sure if just ten buyers would show up at the coin show I go two once a month and buy a hundred ounces or so each they could buy all the bullion that is available for sale there.

Re: Are we mostly buying each other's silver?
 

Hummm......let me check......nope....no one has bought any of my silver.
(Just one beaten up generic round for the record). :smokin:

Re: Are we mostly buying each other's silver?
 

I just don't think the smaller players move the market very much - and for all practical purposes, we are tag-alongs, if my guess is correct

I would guess that large silver buyer that Kahn knows that buys a lot on the comex and Digiwench together probably are responsible for more silver than the rest of GIM put together -

there may be another large buyer or two that hangs around here that either hasn't mentioned the size of their holdings or I haven't noticed the mentioning -

The industrial users, the buffets, the large speculators - these are the market movers.

The small guys and the small dealers that don't carry much volume - probably don't affect the markets very much, as evidenced by the fact that Copperhead got some of his own bars back.

Just my humble guess - cause I really don't know

If someone that knows more comes along and contradicts me on this - won't bother me in the slightest because I'm just guessing

Re: Are we mostly buying each other's silver?
 

I wish digiwench would come back...

Re: Are we mostly buying each other's silver?
 

In the world of natural gas and oil, most used to be moved through contracts between buyer and seller but now is moved through futures exchanges.

Similarly, most of the silver market supply is probably moved through the futures market.

Physical investment buyers are small potatoes.

Think of gold for a moment. Pretty much all the gold that's ever been mined is somewhere being used on earth and would be "on the market" at some price. Even jewelry could be viewed for its gold content if gold were to rise high enough.

There doesn't have to be any consumption whatever for prices to rise. Shares of stock are sold from one person to another and they still can rise very sharply.

Re: Are we mostly buying each other's silver?
 

I do too.

I was hoping that if she saw Book/Coin was no longer here she might return.

Maybe at some point she'll give it another shot.

I can't understand why people attack some of the brighter posters.

Various people have jumped on Market Neutral at times also.

I think that they are ignorant, and deep down resent someone brighter.

Idiots

Re: Are we mostly buying each other's silver?
 

I might have bought some of your silver, but you have definitely not purchased any of mine!!:rock:


Nothing but strong hands here!!

Re: Are we mostly buying each other's silver?
 

It wouldnt take long for her to see that he is back here under a changed identity.

Re: Are we mostly buying each other's silver?
 

Ditto here !

Re: Are we mostly buying each other's silver?
 

:dito:

Me buy, Me no sell

Re: Are we mostly buying each other's silver?
 

Ive always wondered that. I would have to say that some of the older bullion had absolutly passed thru many a owners hands.

Re: Are we mostly buying each other's silver?
 

Yep.

One reason I haven't e-mailed her in an attempt to get her to return.

Re: Are we mostly buying each other's silver?
 

QWAK,My perception of SILVER is that it has been a highly MINIPULATED yet also very small or narrow market and that the price has been held artificialy LOW for a very long time and WILL CORRECT to fair value relitively soon, because the minipulation has been EXPOSED and the PAPER SHORTS are in a CORNER or TRAP of their OWN MAKING. :albertein

I do not see it as INVESTING or SPECULATING just SIMPLE "SAVING" in HARD CURRENCY!

GOLD is the ONLY REAL MONEY every thing else is a SUBSTITUTE even SILVER! Silver has always been the POOR MANS GOLD and I believe it WILL be AGEN. The realy GREAT part is that because the GREEDY SOBs have minipulated and SUPRESED the price SO much for SO long when the price corects having physical SILVER will actualy be BETTER than holding GOLD!:clap2:

To ME it is PURE SAVING not INVESTING and I only BUY and put it away,I don't even think about SPENDING it. In my head it is MY CUSSION,my INSURANCE,my SECURITY,IF I need it I know it will be THERE,IF I never need it, perhaps I will do somthing FUN with it, that HELPS make this a better place once I am gone. :proud:

the DUCK

Re: Are we mostly buying each other's silver?
 

If everyone on G.I.M. purchased when I told them to, from the same major internet bullion dealer, I am convinced we could move the spot.

Although be it delayed.

However I've been told, that would be collusion, and I want no part of that.

Re: Are we mostly buying each other's silver?
 

When I go to a local bullion dealer rather than a coin shop, I always get asked if it's for jewelry/industrial use. So there are people who are consuming from the physical market on the smaller scale. I don't think we're just circulating the same physical-- especially since very, very few of us are selling.

Re: Are we mostly buying each other's silver?
 

My answer here is tardy, but to address the original question of the thread:

NO!!!

We are not buying each other's silver! We (the strong hands) are buying silver from them (the weak hands).

Over the mid to long-term, yes that will affect the price of silver. Weak hands sell -- strong hands hold onto it. I have never sold an ounce. Strong hands is good for the price. Weak hands, please sell now and get it over with.

They can't make 1000 oz. bars out of silver that is buried in the garden. Buried silver is not "supply." At least not at these prices.

:tongue_ma:
:rose::rose::rose:

Hey.. get that monkey out of my garden!

Re: Are we mostly buying each other's silver?
 

Found something for ya Pond.:proud:

Re: Are we mostly buying each other's silver?
 

Thanks, but I already have a pair. <<---- Ha ha.. gpond make a funny.

Re: Are we mostly buying each other's silver?
 

interesting question. I know one thing: the silver I've been getting has come from early 1980s stash, some late 1970s some as late as 1985 but nothing later.

I wonder who had it before and why they are selling.

One more thing. The silver I've been getting has become flakier looking, less uniform and more strange. "Bottom of the barrel" comes to mind. Which is interesting and reinforces my impression that physical is about to become very dear.

Re: Are we mostly buying each other's silver?
 

I am talking to her about it.

Re: Are we mostly buying each other's silver?
 

Yeah, true.

Re: Are we mostly buying each other's silver?
 

Stuff I am getting of late is absolutely pristine. Eng 100's 10's Prospector Rounds and Gold Maple Leafs. The Leafs seem to be from the early '80's. All very clean stuff.

Re: Are we mostly buying each other's silver?
 

But he has also been behaving..........

I sent her a couple of posts from this thread and a link to see other comments.........she has moved on to other things but we'll see if she decided to pop in!

Re: Are we mostly buying each other's silver?
 

My local dealer gets stuff in from people selling their old silver (and gold) jewelry and coins. Most of the people selling don't really get the value (sheeple.) The people who are buying are not the ones who are selling.

Re: Are we mostly buying each other's silver?
 

I bet there are a lot of people here who sell their silver when they make a decent profit. They might not come out and say it because the standard reply around here is that silver is going to $100+ per ounce and put them down for taking a profit.

Re: Are we mostly buying each other's silver?
 

Moderators, Copperhead used that nasty "profit" word here! :emotions16:

Re: Are we mostly buying each other's silver?
 

A couple of months ago a co-worker ask me if the government had produced a $1.00 U.S. Indian Head gold coin. I told her no, just $2.5, $5, and $10 coins. The lady said she had some of them she really enjoyed and wanted to get more.

Like a fool I told her I had a real nice 1 oz. Ag round replica of the Indian Head gold coins. Her face lit up; she ask if she could buy it. I told her she could have it for what I paid for it...took it to work the next day, gave it to her - and haven't seen my twelve bucks yet.

So much for my total Ag trade-out side!

1. Does anybody here have it now?

2. If so please call me at BR-549 to return it.

Re: Are we mostly buying each other's silver?
 

It could be some older retired folks who bought it when the price in FRNs was super low, and now wish to "cash in" on their "investment".

Re: Are we mostly buying each other's silver?
 

See people, you have found a good reason to buy from North West Territorial Mint. I know they are notorous here for late delivery. But that's the whole point. They need to get the actual silver, probably freshly mined, and then mint into coins and then sell to you. It takes time when silver is in shortage. So by buying from minters like NWTM you help boost the spot price. If you buy from dealers of course they have old silver coins ready for delivery. But you are simply buying old from other people and it doesn't help the silver spot price. There is no free lunch in the world. By buying from NWTM you make your own sacrifice by having some sleepless nights but help us all, and you still get all the ounces of your silver anyway at the end of day.

I ordered twice from NWTM. Since no one is ordering from them any more, they probably no longer make any more NWTM brand silver rounds. So what I have may well become future numismatic items. Hee hee hee!

Just kidding.

Re: Are we mostly buying each other's silver?
 

Some probably.

I would be surprised it if it is a lot -

GIM'ers seem to me to mostly be buy and hold when it comes to physical.

Generally speaking, while there may of course be exceptions - posters here seem to not hesitate to come right out and say just about anything _big grin_