Casull
Full Member
Wonder if they said the same thing about Dutch tulips?
Ready to sell some silver, what's fair?
- Thread starter John Madill
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Uptown603
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Have you ever looked into crypto and the different business models of tokens? If not, how can you make and honest assessment? I've dealt with both silver and crypto over the last year. I'm by far NOT an expert in either. Each has their warts. They each have their internet gaslighters just like silver does.
I would check out XRP and what's coming down the road. It doesn't matter if YOU want it or YOU believe. Politicians believe, they want it , and most of all they'll get even more rich because of embracing it. Buying XRP right now could literally be like having a do over at buying Apple or Amazon at $1.36. There is a legit chance at generational wealth. I think too many are excited to think crypto is a "Fad". The reality is, it's been around and survived some poop shows , it's still kicking and now it's getting government clarity.
Uptown603
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Huh..... I just looked at the long range silver chart performance. What I saw now explains why long term silver owners are taking a loud and proud victory lap.
If a fella bought 100 ounces on 6/30/14 spot was 21.15, but you have to pay a 10% "premium" to own the product. Total cost that day......$2,326.50. According to the charts, there was a dip that lasted all the way to 7/27/20 before that fella was BREAKING EVEN on his 2014 purchase. BUT are you really "breaking even" at that point? Your money has been tied up in shiny metal not making you a dime for 6 years. If it was making you 10% per year, that's $1,395.60 you've lost, but we'll get back to this number in a minute, because how Covid has hit, your metal just plunged again and it isn't until 4/8/24 you recover back to EVEN again on your initial investment. That means 10% gains per year is actually $2,326.00 just to BREAK EVEN for a total of $4,652.00. Your new target spot price is now $46.52 just to break even!! . Ten years, no profit. It isn't until 9/15/25 that silver hits 47.00 and you're heads above water, again, finally. That's 11 years, 3 mos. of BELIEF. REMINDER..... this is just to BREAK EVEN of initial investment , with the money you invested making 10% gains per year.
Let's now talk present day....... You're awake this morning and you're going to break the metal hoarding code you believe in. You're going to the coin shop with silver spot being $85.25 but you find out the dealer is paying 10% back of spot at $77.75. Let's subtract his spot number from your new break even per ounce number your profit number per ounce is $31.23. You've waiting almost 12 years to PROFIT $3,123.00!!!!! That's it ........over all that time!!!! You made 3100.00 on 100 ounces and had to go through all the mental ups and downs of that. Be honest....... how many times did you have your doubts you may have been sold Jack's beans? C'mon..... be honest.
What I've noticed is metal stackers have been waiting all that time to tell you "I TOLD YOU SO!!!!!" Yes...... you bought at 21.15, and you sold at 77.75 . That looks like a massive profit, but you risked your money. You made nothing on your money for 12 years and you had the mental gymnastics of "is this even going to amount to anything?".
Terms like "Protecting your wealth" and coins for "barter and trade" is your "Dutch tulips". I will tip my hat to the long term silver stackers that had that kind of belief , but if you're trying to tell me that isn't "smoke and mirrors" followed by belief in bubble gum farting flying unicorns, I don't know what is..........
Oh... I had to edit again to include the shenanigans you're aware of that JP Morgan played with the spot price so they could hedge their paper contracts. To the point they were fined 900 million and STILL made a profit in the silver industry!!!
If a fella bought 100 ounces on 6/30/14 spot was 21.15, but you have to pay a 10% "premium" to own the product. Total cost that day......$2,326.50. According to the charts, there was a dip that lasted all the way to 7/27/20 before that fella was BREAKING EVEN on his 2014 purchase. BUT are you really "breaking even" at that point? Your money has been tied up in shiny metal not making you a dime for 6 years. If it was making you 10% per year, that's $1,395.60 you've lost, but we'll get back to this number in a minute, because how Covid has hit, your metal just plunged again and it isn't until 4/8/24 you recover back to EVEN again on your initial investment. That means 10% gains per year is actually $2,326.00 just to BREAK EVEN for a total of $4,652.00. Your new target spot price is now $46.52 just to break even!! . Ten years, no profit. It isn't until 9/15/25 that silver hits 47.00 and you're heads above water, again, finally. That's 11 years, 3 mos. of BELIEF. REMINDER..... this is just to BREAK EVEN of initial investment , with the money you invested making 10% gains per year.
Let's now talk present day....... You're awake this morning and you're going to break the metal hoarding code you believe in. You're going to the coin shop with silver spot being $85.25 but you find out the dealer is paying 10% back of spot at $77.75. Let's subtract his spot number from your new break even per ounce number your profit number per ounce is $31.23. You've waiting almost 12 years to PROFIT $3,123.00!!!!! That's it ........over all that time!!!! You made 3100.00 on 100 ounces and had to go through all the mental ups and downs of that. Be honest....... how many times did you have your doubts you may have been sold Jack's beans? C'mon..... be honest.
What I've noticed is metal stackers have been waiting all that time to tell you "I TOLD YOU SO!!!!!" Yes...... you bought at 21.15, and you sold at 77.75 . That looks like a massive profit, but you risked your money. You made nothing on your money for 12 years and you had the mental gymnastics of "is this even going to amount to anything?".
Terms like "Protecting your wealth" and coins for "barter and trade" is your "Dutch tulips". I will tip my hat to the long term silver stackers that had that kind of belief , but if you're trying to tell me that isn't "smoke and mirrors" followed by belief in bubble gum farting flying unicorns, I don't know what is..........
Oh... I had to edit again to include the shenanigans you're aware of that JP Morgan played with the spot price so they could hedge their paper contracts. To the point they were fined 900 million and STILL made a profit in the silver industry!!!
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Unfortunately as a business They need to buy under spot and sell above spot to make there margins and do it daily regardless the market…To be able to call it a business. As for the rest of us that just wanna stack maybe sell some here and there. The day SHTF we would trade silver for goods. Ideally!! To sell you just need to do little bit of homework see what LCS or refiners pay for rounds, premium silver coins, etc. the stores cant sell everything they buy so sometimes they have to dump it at the refiners.. when the refiners stop taking everything but 999.. its hard to sell 90% to a store for a good price.
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Uptown603
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Oh , turns out I can't send it to the forum. Check out the latest video by Yankee Stacker. That should say all that needs to be said when dealing with precious metals. It echoed every opinion I've had regarding the "spot price" as well as the made up wholesale "shortage". He's clearly saying these prices are not being driven by supply and demand.
