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xbox1977
08-09-2011, 12:10 PM
this morning at the local LCS near columbus ohio, i was in there around 1045am... counted 18 people selling silver, and some gold... only one person buying... makes me think.......

treasurehunt
08-09-2011, 12:15 PM
It is kind of tough to call it a good sample pool when looking at one LCS during one small window of time.

Regardless, it doesn't suprise me people are selling. It's all over the news that the DOW has had a few of its worst days in history both Friday and Monday. I'd imagine some people are liquidating silver and gold either A) for fear of PM prices tanking too, or B) to get into paper to take advantage of more profitable investments in the stock market.

Creeative2
08-09-2011, 12:17 PM
This is normal behavior when the news puts the spotlight on gold n silver rallies, financially strapped people will take advantage of the price swings, especially if you need to put food in your kids mouth and a roof over your head.

Silver Dog
08-09-2011, 12:28 PM
Remember we are going to see the greatest transfer of wealth in history from the sheeple to elite class.
The last thing you should do right now is sell your physical holdings.

Opticman
08-09-2011, 12:28 PM
I went to my local coin shop yesterday around 4pm, he said he was packed up until 2pm. Buying and selling. He said alot of the selling was people selling odds and ends they had laying around the house, the odd coin, single ear ring, etc....

I picked up a AGE at 70 over spot, was happy.

BullionBully
08-09-2011, 12:32 PM
Yup, even the local news was reporting that golds at a high and this is a good time to sell. I could understand if they had once in a while reported on gold or even commodities, this is just a prime example of transferring wealth.

Killver
08-09-2011, 01:19 PM
this morning at the local LCS near columbus ohio, i was in there around 1045am... counted 18 people selling silver, and some gold... only one person buying... makes me think.......

The dollar is down yet people sell PMs to get paper. If no emergency, don't sell, especially in a forced crash like this one.

KLATTU22
08-09-2011, 01:52 PM
Remember we are going to see the greatest transfer of wealth in history from the sheeple to elite class.
The last thing you should do right now is sell your physical holdings.
Agree...the powers to be know most people are greedy and will sell off gold and silver for a nice profit for their worthless paper if given the chance. I think they are shaking the tree. They let the gold prices increase so the sheeple will sale, then they in turn push the price down, and buy it up. It has been played out over and over again, their only problem now?... they have to let gold get higher and higher each time in order to shake it loose from the more experienced holders!

ksilver
08-09-2011, 02:02 PM
It amazes me to read that paper is worthless, when you are buying your silver with that same paper, same thing when I read posts about blaming JPM for everything.

theplantguy
08-09-2011, 02:08 PM
Agree...the powers to be know most people are greedy and will sell off gold and silver for a nice profit for their worthless paper if given the chance. I think they are shaking the tree. They let the gold prices increase so the sheeple will sale, then they in turn push the price down, and buy it up. It has been played out over and over again, their only problem now?... they have to let gold get higher and higher each time in order to shake it loose from the more experienced holders!

That's interesting. In my neck of the woods I can still use it to buy groceries, fill my gas tank, even the local restaurants accept it. It must be different where you live.

Moneyisevil
08-09-2011, 02:08 PM
Went to my local coin shop this morning to buy a roll of ASEs People were selling. I was buying. I love buying on down days like this.

Walked out with a nice roll. $37.87+$2.00

I couldn't be happier. :)

I think the panic in the stock market is settling out. Silver will march on.... Personally I'm thrilled it help up as well as it did. Happy it pulled back to add more. Win! Win!

coindog
08-09-2011, 02:18 PM
That's interesting. In my neck of the woods I can still use it to buy groceries, fill my gas tank, even the local restaurants accept it. It must be different where you live.

I'm gonna use some to buy the 2012 official Comex "naked shorts" calander when it comes out. HA,HA,HA. that was a good one.:D

SilverBill
08-09-2011, 02:20 PM
Over the weekend I heard the reminder "cash is king" from several commentators. Some folks selling PM might have agreed, specially if they gained on the sale. Stacking max cash for the depression.

I didn't sell squat though. and even bought a little hobby silver on the bay (Norfeds, Libs).

KLATTU22
08-09-2011, 04:18 PM
If TSHTF see what that paper will buy you.....I dare say my silver and gold will come out on top!

Can you say Zimbabwe?