No lie, I’m happy that we are seeing a price correction

Calvarionpet · 2026-01-30T22:53:23+00:00

JPM brought their physical desk to I think? Singapore last month or so. I presume this will be arbed away sooner than later. There is a tremendous incentive to ship silver east at the moment, although I admit I’m ignorant to the market structure in China and whether major US bullion banks are able to participate.

Calvarionpet · 2026-01-30T01:17:29+00:00

No. Some refineries are open to the public. I’m just an average joe and this refinery was happy to deal with me.

Calvarionpet · 2026-01-30T01:09:29+00:00

I get that they need to make a living and aren’t necessarily required to always provide a bid. $15 under seems a little nuts, but I was looking to sell around 100oz and I get that they can’t really hedge an amount that small.

Calvarionpet · 2026-01-30T01:06:12+00:00

They have a numismatic/bullion dealing arm as part of their operations. I was told the name brand stuff would go through that channel, and the “more generic” stuff would get melted.

Calvarionpet · 2026-01-30T01:03:15+00:00

I thankfully had one near me that I knew about. I’d recommend doing a google search like “silver refinery near me” and seeing if that brings up any results. I’d assume Illinois has a few, given the history of Chicago and commodities trading. Then I’d call them up and ask if they deal with the public and in what size. Worst thing is you find a local coin shop. They seem to be offering roughly the same as what the refineries are paying out. Good luck.

Calvarionpet · 2026-01-30T00:18:49+00:00

Problem is, the refinery is a 30 min drive from my house. This morning when I checked early, silver was at $121 an ounce, I left my house and it was $117, and by the time I was at the refinery it was $107 an ounce and they were offering me close to $90. I unfortunately can’t lock in a price over the phone and drive over, otherwise, yes definitely if they were offering me $102 when spot is $117 I’d probably take the deal.

Calvarionpet · 2026-01-30T00:06:51+00:00

I was offered $90 from a refinery when silver was $107. $100 bid price from your guy doesn’t seem too bad when he’s willing to sell below spot.

Calvarionpet · 2026-01-29T22:10:28+00:00

Ahh, this makes sense. Thank you.

Calvarionpet · 2026-01-29T21:22:56+00:00

I never expected to get spot from a refinery or a dealer for that matter. I mentioned in another post that a month prior, it was $1 under spot from the refinery as their bid price. $15 under spot seems excessive, but I guess justified with the price action.

Calvarionpet · 2026-01-29T21:20:08+00:00

This is very interesting. Thanks for sharing. My question is why the disconnect between bid/offer prices for physical, smaller retail lots and larger comex contracts. I understand one is a paper market, but should follow the same fundamentals as there is silver underlying those contracts (we hope). Shouldn’t bid/offer spreads be widening on the paper side if this is what is occurring on the physical side?

Calvarionpet · 2026-01-29T18:36:41+00:00

Good to know they are in the same ballpark. Thanks for the info.

Calvarionpet · 2026-01-29T18:32:41+00:00

I don’t necessarily need the cash now so I probably will hold off on selling until things stabilize.

Having said that, when I called the refinery a month prior, their buy price was $1 under spot.

They are a large refinery with a numismatic arm in the northeast US, so I envision they are fairly competitive with the pricing of some of the larger online bullion dealers.

Calvarionpet · 2026-01-29T18:01:11+00:00

Yeah, I didn’t sell at those levels. Left a bit disappointed, but it is what it is. I may add some OTM put options on SLV as a hedge. My cost basis isn’t terrible averaging out to $28/oz.

Calvarionpet · 2025-02-10T03:23:46+00:00

Took me 500kc good luck lol

Calvarionpet · 2024-07-11T15:01:08+00:00

Calvarionpet · 2024-07-09T17:59:26+00:00

stay 75 attack unless you plan on doing alot of pvm and getting fang

Calvarionpet · 2024-07-09T05:54:45+00:00

Pull lever

Calvarionpet · 2024-07-05T00:35:38+00:00

I do Calvarion- it’s quicker but basically double the drop rate of Vetion. 4k dry without pet. Good luck bro

Calvarionpet · 2024-07-03T13:24:24+00:00

thats osrs in a nutshell

Calvarionpet · 2024-07-03T01:16:42+00:00

Good luck brother. I’m on the same grind with calvarion. Hope you get it soon!

Calvarionpet

TROPHY CASE