Time to Buy the Silverware

Written by Bryan Lutz, Editor at Dollarcollapse.com:

I received this flyer in the mail yesterday.

These guys are running purchasing events at the local market, a hotel, a few other places around town.

]

This kind of thing is worth paying attention to… Not just as a curiosity, but as a leading indicator.

Right now, silver buyers are still mostly operating within the usual channels: coin shops, bullion dealers, online exchanges.

But that won’t last forever. As silver’s story becomes harder to ignore, the search will expand. People will start digging through their own homes, their grandparents’ china cabinets, their storage units. Sterling flatware, tea sets, candlestick stands, serving trays, you know the kind of stuff that’s been sitting in boxes since the estate sale. Beyond silverware, the hunt will extend to silver-plated items, vintage jewelry, old pocket watches, even certain coins that non-collectors don’t think twice about.

The smart move is to get ahead of that wave. Pawn shops, thrift stores, and garage sales are still largely overlooked as silver sourcing opportunities. Most sellers there don’t know what they have, and most buyers aren’t looking for it yet.

That window won’t stay open indefinitely. Just take a look. COMEX stock is draining quickly.

From 3 Sunday Morning Thoughts – March 1 Edition:

“Anyway, just an interesting observation as the silver price continues to be undervalued.

Schiffgold recently shared these charts on silver inventory in the COMEX. Physical inventory in the COMEX vaults continues to drain.

Eligible silver is not currently available to satisfy a futures contract delivery. That’s because the owner has not attached a “warrant” to it (a document that makes it deliverable against a futures contract).

Sometimes these are banks storing silver. Other times these are bigger players.

 

Registered silver is officially available for delivery against a COMEX futures contract.

 

Despite the lack of silver hype and the chronic underpricing of physical silver, silver’s scarcity continues to grow.”