Silver Has Plummeted: Pull Backs Kill It For Small Dealers 

I don’t trust half these companies that spout greedy nonsense just to like their pockets a little bit more, like some people actually work and struggle to even pick up one coin, coin shop dealers need to be better people .

Yup, best I could get it for during intial Covid was $18. Paid $6 over spot. Hurt a the time.

Locals pull almost everything they have out of their display cases when the price falls off a cliff ... and then when you walk in and ask they tell you they got swamped with buyers and are sold out Price rises and they pull all that inventory from the back room and stuff the cases again

I see a lot of crying here, if you want cheaper silver then become a dealer, it isn't hard at all. Just start buying and selling in your spare time, pick a business name, join coin dealers helping coin dealers, Roundtable, and start buying silver wholesale and then you will actually get to know dealers. Cause commenting like this is nothing more than victimhood. Wholesale buying is out there, but if you don't want to take the risk then you pay the guy who does. Also, @Stoonad, don't tell me about working for a living, I've done that all my life. I've been down to my last nickel at the store and only need one more quarter to buy some salt. Guys like you don't know what you think you know about coin dealers. No matter how bad it got I never got online and blamed dealers for it.

@@CoinHELPu its really easy but they would have to put in some effort .I have a huge network of buyers and a few sellers, if you have good people skills.when they like you ,that can help.

Victimhood is a bad place to be, you need to stop listening to yourself and not be a victim. You have control over that. I had to learn that a long time ago. I wasn't born into this.

@@CoinHELPu It is what it is.

@@sickntired2059 life is what you make it, some things you can’t control, but you can control your perspectives.

@@CoinHELPu Agreed...the information is out there. We just have to keep making the best of a bad situation.

​@CoinHELPu right... most people have no problem learning from other peoples mistakes however they relentlessly fail to learn from their own mistakes

I have also never sold anything in my collection.

yes, but you are not a dealer, a dealer of anything goes out of business pretty quickly if they stop selling

Yes, it plummeted, but not plummeting. $2 down from a week ago is huge in silver.

No panic here, but one does have to watch.

That sounds very interesting could you possibly send me example of it so that I can start doing that with my collection?

I agree, but it stinks on the pull backs dealers increase their sell price over spot. The cheapest I got any silver last 2 years was $23 even though it hit $20.

@@UneducatedGeologist 2018 silver was $15 and selling for $15.50

​@@buyystocksYes I got alot in 2018 and 2019 for $16 to $18. Dealers margins were razor thin

I pay melt and I know a lot of dealers who do, some over melt.

Greetings from another Morganite. Best quote of the the day: "My Morgans are like a batch of kittens; all different." I feel you!

Aren't all collectible coins numismatic?🤐

With you tbh, I think stacking is like marginally less stupid than bitcoin

​@@Phlinn96 Crypto currency is a ludicrous racket if you know how to trade it. I can't wrap my head around it, but I know other people who've done extremely well.

I can't hold silver. I'm a spendthrift. I need objects. I've always liked collectables because I know they're always worth some money. So I'm with you on numismatic items only.

Because when SHTF theres going to be people around with money to burn to pay a ridiculous premium over spot for your fancy little coin? thats foolish

You buy the dips, you don't wait for it to go down. You do this long term, my video is about short term buying and selling for a small coin shop.

I've heard that for decades, no one has a crystal ball. It might go back up, but it will pull back again.

They keep guessing and eventually someone is going to call it, but no one has a crystal ball.

Most people who buy and sell silver to me understand premiums, sounds like you don't understand the bullion business. You're more into being a victim than a solution or educating people.

They can't provide the service for free. They aren't there to buy your silver. They're there to sell it for you. You walk away cash in hand. They now have to find a bunch of buyers before the price drops. That and keep the lights on/payroll so you have a convenient place to sell your goods. It's a totally fair business. I've been going to people like Daniel my whole life and never felt taken advantage of.

And it will be back down.

@@CoinHELPu market fluctuations are to be expected.

@@andrewmacomber1638 never once said they’re not expected. My entire video highlighted that. I guess I am going to have to make more and specific points in my videos because so many seem to misunderstand what I am conveying. I literally show past fluctuations.

It would plummeted below $30 after being at over $32, that is a large swing in silver.

It’s still up almost 11% over the last 4 weeks. It’s pulled back to 30 twice and it’s holding. Im sure you’ll be just fine in the long run.

@@ian8762 you’re taking the video wrong. I’ve been at this all my life. I will never trust silver. It did this in 2021 and August 2022 it was $18. I know how to survive, my video is short term thoughts and explanations, not me worried and going out of business lol

Look at how silver did after 2011, this last run was Covid fueled and I don't believe sustainable as it never has been. We will see. It dropped to $12.60 an ounce in March 2020 before surging. It's is too manipulated to be predicted.

Spot is what silver is now, melt is how much a coin is worth in silver by weight.

I'd find a new buyer

Mines been offer $29 ever since it broke $30 and even when it was $32.40. Kinda sucks.

You haven’t been watching my videos for very long then.

@@CoinHELPu Yes I did miss your "Price surges in silver make big profits for small dealers" video. My comments are based on what you said in this video with the clickbait title (A sub 10% fall in the price of silver is not a "plummet"). I realize if you aren't smart enough to hedge your positions and you make a large long bet and the market moves against you a 6-8% move can be painful.

"Price surges in silver make big profits for small dealers", that was NOT my video title for any video, so you're mistaken again. Silver DID plummet from $32 to $29.40 and that is billions of ounces being sold off as paper, but still it is a plummet. Also, you did not pay attention to my video, you hear what you want, not what I am actually saying. I can handle any drop, I don't need hedges or paper to do so and I said that in my video. Your comments are too condescending for me. I don't talk to people like that. Typical dealer hating. Always making up something negative.

In 5 days it went from $31.42 to $29.38, that is a plummet, just because it rebounded after the video was published doesn't take away from the fact that's a steep drop. $2.12 is billions of ounces sold off in paper, but it's still a drop and it still effects small dealer shops on their buy prices, especially when your profit is .50 an ounce and it drops .65 cents in a day. You're missing the point of the video being stuck on one word.

@@CoinHELPu we can agree to disagree :)

You can’t argue math. It dropped fast and that is a lot for silver. So you’re disagreeing with the facts. I used plummeted per the dictionaries and the English lexicon.

I been into coins coming up on 20 years now. If you find out, let me know 😂

You never slows sells as a dealer, bad advice.

It dropped almost $3, do you know how much that is if compared to gold? Do you know how many ounces it takes to drop silver like that? It happened in short order as well, so that IS a plummet. This is not a correction of silver prices and that is where you're hung up, $30 isn't the new low. I don't have wishful thinking, I look at the stats and the facts, based on years in this business.