It's well known and openly admitted and lawsuits have been won about manipulation in the precious metals markets.
The low side of the Gold to Silver ratio is about 100 to 1
The high side in history was 10 to 1
So if Gold inches up to $2500 oz... that puts Silver at $250
currently $27 - that might sound mad - until you think into the performance in many other assets, Tesla, Cryptos etc.
JPM, Barclays and all the spooks have gone out of their way to crush silver prices for decades - this is one way we can beat them.
Silver futures are a small market place - we can easily squeeze them out there.....
The Hunt Brothers did it in the 70s but they didn't have the viral power we have.... to get the masses behind them.
Can you perhaps explain a bit more what you mean by "buy physical or take delivery on your contracts"?
For someone who has never bought Gold/Silver before and doesn't know much about the Stock market, comments like these are the ones that make me hesitant to go out myself and buy silver/gold because I'm afraid I'll get scammed or buy on the wrong site.
Other below have suggested APMex, SDBullion or local coin shops.
Does "buy physical" mean you buy real silver and have someone else hold it for you? What does take delivery on your contracts mean?
I'm happy to help with what money I can afford to lose, but not really sure exactly what I have to do.
Buy junk silver on eBay. You want the real deal, no some contract or ETF that the market can fuck around with. You want real silver.
Buying junk silver is ideal because you can barter with it. Buying a silver bar means you’d have to slice off pieces while coins have the work done for you and markings which may say the coin is silver or a date you could look up and see if it’s silver.
WTAF?
Bro.....no.
If you are extremely experienced and know EXACTLY what you are buying; sure; buy off eBay. IMO, that goes for EVERYTHING nowadays; eBay and the whole internet are so full of fakes, scams, ripoffs; it's ridiculous.
eBay is the absolute, dead nuts LAST place anyone who ISN'T AN EXPERT should buy ANY precious metal.
JMBullion, APMEX, and several other large, extremely reputable sources are the best for noobs.
Your point about buying actual, physical metals; coins, bars, etc; is very correct though.
LOL at anyone who "invests in precious metals" but buys paper contracts... ???
the best for noobs is to not buy online at all
big metals distributors will take your money and then produce the silver
in a short squeeze this means that by the time your order is ready the proce will have gone up so much they will just send you your money back
buy from a local coin store
I agree with this to an extent.
It depends how high their markup is compared to the Internet. As long as they are reasonably fair and not totally gouging then yes you should support your local small business versus a communist multinational shit bird tech company like eBay.
I only buy from sellers who have 100% ratings. Never had a problem. I had a problem with a gold dealer website that was supposedly reputable but after I made the buy the company was all of a sudden bought out and they were going to have to sort shit out and then I could expect my gold. I got a refund from paypal.
Yeah that works too, I guess..... I dunno I guess I just have a visceral reaction when I see "ebay" - I instantly think "scam / fake!"
Well that is good for you but I still believe that buyers should definitely beware on eBay and still do not think it is the best advice for people who are totally inexperienced with precious metals to run their first couple transactions through eBay.
Maybe either with the guidance of someone more experienced, or after you have learned a lot more about what exactly you are buying & the industry as a whole...
As always; buyer beware and YMMV.
Yeah, let me have some of the silver paper right there, lol. I don't know why anyone would take paper over physical silver/gold except, it's a 401k option.
Seriously! Even then, you can apparently do a self-directed 401k where you self-fund with precious metals or something like that..... I'm botching the terminology but you can definitely invest in real, physical PM's for your 401, maybe IRA.
Agree. Thanks fren.
How do you "slice off pieces"?
You don't. Don't buy 10 oz bars. Buy 1oz coins or even 90% dimes, quarters and half dollars. There are also 40% coins but I stay away from those. I try to mostly stay with 1oz .9999 pure rounds.
I know for sure I have seen gold manufactured in this way, and I'm sure they have silver; I just haven't looked nor seen it, but; they make credit card-sized sheets of gold that are pre-perforated so that you can break off fractional amounts of it to barter or trade with.
A pretty good idea actually...
Here it is!
https://www.apmex.com/product/74946/50-x-1-gram-gold-valcambi-combibar-in-assay
https://www.youtube.com/watch?v=I-dL6g8eofY
There are a few options for getting into the silver market. There is physical purchases from reputable dealers. There is buying a silver ETF which gives you exposure to the silver price, but you don't physically own it. There are futures contracts for larger amounts that can either be settled for cash or physical delivery(take delivery). Jewelry manufacturers and bullion dealers are the types that typically take delivery. The futures market trades in large quantities of silver (5000 ounce contracts) so is not usually the way retail investors go, but if you have the money and are investing long-term, taking delivery on a futures contract is a good way to keep the silver market honest. If you are just getting started, small physical purchases are probably the way to go, but I can't give you any advice since I don't know your personal situation and risk tolerance. For someone just looking to make a short-term trade, the ETFs are an option, though I personally don't like them because electronic markets can be more easily manipulated.
buy from a local coin store
this is the ONLY WAY to eliminate third party risk
Agreed. There is always SOME risk, but a local dealer is the safest.
There is no COUNTERPARTY risk at a dealer though
not is there risk of not being able to take delivery if you walk in with cash and walk out with silver
that is the only risk I am referring to
Your post needs more visibility because it's a great, short explanation. Enough information to give the newbie buyer a starting point with all the right terms to input into a search engine. I hope more people just starting can see it.
Thank you. If you are interested, Peter hug has a balanced view on the subject. He just did an interview with kitco here: https://www.youtube.com/watch?v=2pIDNcHhhO0
I haven't watched his interviews but I've been following the silver news since around 2008. I'll watch this interview. For anyone else reading, a good starting point is Mike Maloney's series "Hidden Secrets of Money" for basic information. Full disclosure: he is a dealer of gold and silver.
You can order bars or rounds online or buy physical and keep it yourself. This is BY FAR the safest option. Bird in the hand, as they say.
Craigslist and eBay are rife with fraudsters. But coin shops often sell rounds.
Good luck. Go buy some locally today.
I bought a lot in pawn shops and at gun shows as well. Plus pay in cash and there is no record of physical transfer.
I was lucky enough to pick some up when it dipped down into the $12s (although with the premium it was in the upper $14s). That is when the big push happened and within a few weeks - once silver came back in stock, it had doubled. It really hasn't fallen since then, it fluctuates between 25-30 now.
What affect will reddit hitting the paper market have on the physical market - I see physical is already up over a dollar today? I went ahead a purchased a few shares of $SLV for the hell of it, but I primarily hold physical. Will this have a permanent impact on the market or just cause it to spike for a few weeks? Can they really do damage to JPM... who has been holding silver down?
you will never be scammed if you walk into your local coin store and ask for silver bullion