stock market was up today...

[Thunder Good-Oil]

I thought about you when I read that. I knew you'd be intrigued by a move on SLV.

The Reddits can affect the silver derivatives, but they won’t be Hunt brothering the commodity.

 

[Orange_Vol1321]

LOL

View attachment 347250

 

[ajvol01]

LOL

View attachment 347250

 

[TheColdVolTruth]

The Reddits can affect the silver derivatives, but they won’t be Hunt brothering the commodity.

I agree. They won't be partying like it's 1980. Even with a run on physical metal, it will be broadly distributed rather than hoarded by a singular party, but it still impacts the commodity. What do you think happens with an attack on the derivatives? SLV doesn't buy or sell silver as GLD does with gold. It's based off JPM silver holdings. If the derivative gets squeezed, I would think it only impacts that ticker since it doesn't deal in the metal. I guess it would break the ETF's ability to track the spot price. What is the broader effect beyond that?

@Rasputin_Vol - Thoughts?

 

[Rasputin_Vol]

I agree. They won't be partying like it's 1980. Even with a run on physical metal, it will be broadly distributed rather than hoarded by a singular party, but it still impacts the commodity. What do you think happens with an attack on the derivatives? SLV doesn't buy or sell silver as GLD does with gold. It's based off JPM silver holdings. If the derivative gets squeezed, I would think it only impacts that ticker since it doesn't deal in the metal. I guess it would break the ETF's ability to track the spot price. What is the broader effect beyond that?

@Rasputin_Vol - Thoughts?

In reality, the SLV has in its prospectus that they can settle in cash. So there technically won't be a default of metal delivered. But, two things would happen. You mentioned the first, there would be a divergence between the "paper" price and the actual physical price of silver. That right there should highlight the rampant fraud in the market right there. Also, even if they don't settle in metal, they will have to settle in cash. How much liquidity would that require?

 

[mr.checkerboards]

So, who else decided to play the game this week? I made back my initial investment yesterday so the rest is just for fun at this point. If it tanks and I eat it, meh.

If this holds with a clean getaway down the road, I'm going boat shopping.

I'm sitting on AMC, NAKD. NoK.
Will buy Silver tomorrow.

 

[Orange_Vol1321]

Careful with SLV.

 

[Rasputin_Vol]

"Everyone Is Afraid Ahead Of The Open" - Reddit-Raiders Spark Nationwide Physical Silver Shortage | ZeroHedge

 

[VolStrom]

I have about 2 pounds worth of 99.999% silver coins, if they are going to go through the roof, where can I get rid of them quickly?

 

[Rasputin_Vol]

It's looking like the better play right now would be PSLV instead of SLV. Really, physical silver is first, then PSLV, then maybe AG or another mining stock, then SLV...

 

[Rasputin_Vol]

I have about 2 pounds worth of 99.999% silver coins, if they are going to go through the roof, where can I get rid of them quickly?

You may as well keep it. That's only about 30 toz. I mean, if the physical price goes up to $50 (the all time high), there's a good chance it could overshoot for a period of time. Maybe sell then???

 

[Velo Vol]

My trumpet has a silver finish. Should I melt it and separate the silver?

 

[VolStrom]

You may as well keep it. That's only about 30 toz. I mean, if the physical price goes up to $50 (the all time high), there's a good chance it could overshoot for a period of time. Maybe sell then???

Well crap, I was thinking the price was going to go up to something like $2k an ounce.

 

[Thunder Good-Oil]

I have about 2 pounds worth of 99.999% silver coins, if they are going to go through the roof, where can I get rid of them quickly?

.

 

[Thunder Good-Oil]

My trumpet has a silver finish. Should I melt it and separate the silver?

Do it!

 

[lawgator1]

I have about 2 pounds worth of 99.999% silver coins, if they are going to go through the roof, where can I get rid of them quickly?

Best, fastest option is usually coin shop. Call around to area shops and ask what they pay relative to spot. A dollar under spot is what I get from my local coin shop. If the price really does skyrocket that might change as there'd be such a premium.

 

[Rasputin_Vol]

Well crap, I was thinking the price was going to go up to something like $2k an ounce.

Meh... I don't know about $2k, but triple digits in the next few years is within reason.

 

[lawgator1]

Well crap, I was thinking the price was going to go up to something like $2k an ounce.

Doubt it. But $40 or so this week is possible.

 

[lawgator1]

Well crap, I was thinking the price was going to go up to something like $2k an ounce.

Doubt it. But $40 or so this week is possible.

 

[Rasputin_Vol]

Careful with SLV.
View attachment 347272

Also, one more question about this graph. Is this showing what individual account holders have collectively between them or is this how much Citadel has in its name only?

 

[ajvol01]

I have about 2 pounds worth of 99.999% silver coins, if they are going to go through the roof, where can I get rid of them quickly?

Why would you do that?

I’m only keeping physical silver as an insurance policy our paper money becomes worthless.

 

[Rasputin_Vol]

Why would you do that?

I’m only keeping physical silver as an insurance policy our paper money becomes worthless.

And I think he was just being facetious with his post. Silver holdings are usually stated in ounces, not pounds.

 

[ajvol01]

And I think he was just being facetious with his post. Silver holdings are usually stated in ounces, not pounds.

Yeah, but 32 ounces of silver is only worth about $800-$900 based on recent prices.

I assumed he was being serious.

 

[VolStrom]

Yeah, but 32 ounces of silver is only worth about $800-$900 based on recent prices.

I assumed he was being serious.

I've been collecting silver eagle proof coins for years. I don't have any use for them and just thought if silver was going to go up in price like gamestop did I'd capitalize on it. I don't follow the market much anymore and don't trade either, I'm just sloow and steady.

 

[NEO]

What's everyone's thoughts on AMC? Seems it was shorted as much. Think it goes back down or ends up being the next GME?

Or would you just go with SLV instead at this point?