Refineries continue to experience a backlog because so many people are selling their silver. With the fluctuations in spot price happening, dealers are looking to offload any scrap or junk silver as quickly as possible. The problem is that anything less than .999 bullion isn't going to be given high priority when they're swimming in .999 bullion.
(Created with Bing)
The reason I'm thinking junk silver is a better short-term play for buyers is because of how undesirable it is. Ask most coin stores and they will offer you far below spot price or outright refuse to buy it.
This is just one example.
(Source)
Some are claiming this backlog will last about 3-6 months, while others are claiming anywhere from 3-12 months. (Source)
This presents a unique buying opportunity for those wanting to buy silver cheaper. Now may not be a bad time to put out some online posts offering to buy people's 90% silver that their coin store won't take, and offer under spot for it. If you're planning to hold for a long period anyway, junk silver will eventually be favorable again because of how recognizable it is.
Regardless of what you do, keep an open mind and don't hesitate to think outside the box. Whenever there's high demand, there's more than one angle you can find to get silver at a discount if you're willing to put in the work.
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