The Silver Supply in my Area is Running Low

in The City of Neoxian10 months ago

When silver drops, I buy. When silver is up, I buy. When silver trades sideways, I buy. Not a lot, as can be seen from my SSG posts, but an ounce or two pretty regularly.

But for the first time since I started stacking, this is what I got at my LCS.

Screenshot_20200318-212144~2.png

That's not to say they didn't have any silver, but the generic bin was bare. They would have happily sold me some new shiny premium $23+ one ounce rounds. But I can't justify paying such a huge premium. I mean, I don't want the LCS owner to lose his shirt, but I'm not going throw my money away either. So I walked away with nothing.

To those of you who have been through these cycles before: is this how the story typically plays out? When prices drop suddenly, supply is low and premiums are high? Makes it hard to get ahead in the game if you can't buy when spot is low.

Good thing I've been buying all along.

Posted via neoxian.city | The City of Neoxian

Sort:  



Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.

Please see this post on SteemPeak for more information.

It's like the store who has bread on sale for 10 cents a loaf-but wait-they don't have any. However, if you like, they will sell you the loaf for $4.99. Same thing kind of holds true for silver. Not only do you have a super low price, but you may have some folks suddenly realizing with the tanking economy and the coronavirus, that precious metals might be the thing to get, and bingo-no silver to be had.🙃 I will DM you information.