The market is abuzz with rumors that a mysterious "billion dollar silver buyer" has entered the market, driving up premiums for the precious metal. A female billionaire, who lives in Texas, purchased a large amount of Silver Eagles, and intends to buy more. This was disclosed by coin dealer Andy Schechtman, of Miles Franklin Precious Metals, who reportedly filled her order.
We have been market participants in the space for some time, and we believe there is truth to the recent buys as stated by the speaker. We also believe there is potential for future buys, as relayed from the customer. Otherwise, who can know? We believe the recent buys are a positive indication of market activity, and we believe the potential for future buys is positive news for the market.
We have seen this before. The order was likely real and had probably distorted silver premiums for months due to the supply crunch. Subsequent orders are not a given but may happen. The buyer, to our knowledge, is a reputable professional with a keen understanding of the implications. The silver market is in a period of tight supply and high demand. We believe that the recent order for silver was real and it has distorted silver premiums for months. It is possible that there will be more orders like this in the future, but we cannot say for sure. The speaker is a reputable professional and we believe they know what they are talking about when it comes to the silver market.
While it is not uncommon for investors to announce their purchases after the fact, it is unusual for them to do so before making an additional purchase. In this case, the investor's announcement that they may buy more of the asset in question could be seen as a way of helping to stabilize the market. While it is impossible to say for certain whether or not the coins were in fact purchased, the investor's decision to disclose their intentions ahead of time is curious.
The current situation with the order is that it is real, has been source-filled, and premiums will continue to remain high through August. If she buys more, they have to go higher. If not, they will collapse. That’s the way we will watch this. The black swan is if others get the fever to buy. The future will tell us more. Right now, it is important to focus on the facts and what we know. This will help us make the best decisions moving forward.
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