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Not "reputable dealer" but certainly from reputable sellers on http://www.reddit.com/r/pmsforsale
Banks sell pooled space in their vaults and sell you silver. They then sell that same silver in the same space to someone else. And someone else. Often 100x to even estimates of 1000x over and over because no one actually demands delivery of the silver. No one wants to store it at home so they think they own all this silver but that same silver is owned by countless people.
As people catch on and demand delivery, they have far less to resell until the mining companies can produce more.
You can wait weeks/months or get a cash settlement that is often delayed until they play their games and print derivatives to lower the spot price of the metal and they'll settle there so you get less because the "value" is low.
But the spot price isn't free market supply and demand.
In some cases they throttle supply to the bullion retail sector so when you want to buy coins and vars, the resellers and private mints don't have the supply needed so they raise their prices significantly higher than the "spot" price because retailers and private mints actually have to worry about supply and demand.
US mint halted minting for months to "update their machines" in the middle of the biggest silver craze in over a decade (that continues to grow. Last time was around 2011 after the 2008 economic crash)
They never expected to be singled out for a squeeze in such a decentralized manner of individual investors demanding physical silver and people with allocated silver in the bank vaults to demand actual delivery of the metal.
They have done the price tampering over and over to try to break morale but people just see the lowered prices as "shit, silver is on sale, buy more!"
If you go to http://www.reddit.com/r/wallstreetsilver they have a whole section of research, explanations, and tons of other good info.
Remember the last of the 90% silver quarters and dimes were minted in 1964 when US currency actually used to be made of the precious metal and replaced with zinc and other BS metals.
$10 face value of quarters or dimes from that era now sell for about 220 dollars and contains a bit over 7 ounces of silver in their composition.
The constitution explicitly states that all US money is to be of gold and silver. The dollar has lost an absurd amount of its purchasing power.
Things don't get more expensive...the dollar just gets weaker and that is the reality.
That is mean as fuck. But I hate rats. Hedges are rats. Perhaps their moment of glory when robinhood halted buying for us please was their "rescue" and that's why they're holding on.
I mean this place was an oasis for diaspora'd WSbets users.
But the subreddit was doen a miniscule amount of time, and wallstreetbets2 caught most of the wanderers.
What are we gonna do keep talking about HODLing and TO THE MOON? :P
I am more partial to http://wwe.reddit.com/r/wallstreetsilver
Based dudes collecting shiny with the same goal as WSBets only it's the bullion banks we're pushing against instead of the hedgefunds per se. Same concept.
Buy up the physical so they can't sell as many derivatives and futures over and over as they bleed out millions of ounces and apes stockpile.
They've been manipulating silver for decades. Now Perth Mint has 4-6 month delays to fulfill orders and COMEX is showing silver leaving faster than coming in.
They print more SLV and drop any spike up by morning all the damn time.
I just sold this morning. Fuck it.
Idk your politics but major events have been unfolding and GME being a true redistribution of wealth is one component of it. The mass printing of money over the last year (remember people shitting on Obama for bringing us to 20 trillion in debt and now we're at 28 trillion most of which was used to prop up the markets and bail out shitty states' shitty policies as well as giving around the world while we produced jack shit over the last year due to lockdowns)
Things were unsustainable before but now they're off the fucking rails. Se Weimar Republic or Zimbabwe.
Also see how overhedged JP Morgan is with SLV shorts vs their actual supply of silver and everyday people buying it up. Investors bought more than industrialists die to lockdowns, silver production was low due to low demand and economic shutdowns.
It's very much like GME. Low availability (minters I order from have a 4-6 week backlog and are having trouble finding the product in a timely manner)
Silver went down when our economy fell down the whole. Same way stock prices PLUMMETED around march/april of last year. Main purchasers of silver were shut down.
Do as you see fit.
Probably cheapest price you'll pay if they dont charge tax. For some reason my order was going to have tax but others don't.
Another valuable resource but try JM first if you're just buying for weight and not for collecting.
I started a month ago.
20 1oz rounds came in, ordered 4 more oz a few days ago and another 7 oz today to do my part in today's events.
Today was the coordinated raid day. JP Morgan owns a shit ton of silver and prints $SLV and shirts it.
Silver production and demand was low this year and as lockdowns are softened and industry picks up, demand surges.
This year more silver went to investors over industry.
Silver production was low with low demand due to lockdowns and covid restrictions.
JP morgan shorted silver amd today countless ounces and kilos were sold to we the people in a coordinated effort.
Not to mention that the printing of trillions these last couple of years are exposing our fiat currency.
Silver is timeless and a way to lock in wealth that will always hold value.
Not from a single dealer, just removing physical silver from the market to squeeze the shorts.
Im up 88% on AMC, gonna sell off. It's fishy.
Im up 88% on it lol. It was supposed to be the next gme. Gonna sell off tomorrow and buy more silver.
Eyyy! Check out the stacks people are posting at http://reddit.com/r/wallstreetsilver
Thousands and thoysands of ounces removed from the market. You're going to LOVE holding that stack in your hands. Got my first stack of 20 1oz coins a week ago and I can't fucking put it down. Got another 4oz set of mixed weights with different official mint coins on the way (the canadian maple leaf is gorgeous), and this wet dream from scottsdale (2 100g stackers) today to contribute to the cause.
I was going to hold back on buying more but I want to contribute to the ides of march Raid haha
Check these fucking beauties
Industry is picking up as lockdoens are lifted and $SLV worthless paper is over hedged relative to the amount of silver produced. That with India buying a metric SHIT TON of silver and the increase of investor purchases...
This one is actually cheaper because I never paid sales tax from golden state mint, and the SDBullion website does have sales tax. Something to bear in mind.
Yeah I noticed after posting. That's the cgeapest price I have seen!
Silver is artificially low.
Not really. It's worth talking about but there are also tons of undervalued stocks.
Sunw Pltr wkhs etc
Unpopular opinion: is GME all anyone can talk about?
They can extend it and pay interest.
Red days are sales. Have cash 9n hand to buy the dips.
POWW gained 20% in a day or rwo since I bought haha