Also, for the past few months, bullion dealers have constantly had sales on silver bullion. So I suspect there's been an increase in the supply of physical silver . Basic economics 101, when supply exceeds demand, price is driven down.
I personally don't trade silver on paper but I do buy physical silver and I'm hoping price does drop so I can start loading up again (as I did back in 2010 and sold in 2011). Ultimately, my buy zone is between $14.5 to $16.25 but I'll be loading on the way down as well.
For those of you new to stacking bullion, stick with top tier mints (Royal Canadian Mint, United States Mint, Johnson Matthey and Engelhard). Top tier mints are easier to sell than the other mints but have a higher premium. The other mints sell their bullion closer to spot price so you might be tempted to buy them instead but you'll have a harder time to sell them as well, so take that into consideration. Lastly, whether you buy coins or bars, small sizes will always be easier to sell than bigger sizes.
I'll primarily be loading up on the following:
1oz Silver Maple Leaf Coins
1oz Silver American Eagle Coins
1oz Silver Johnson Matthey Bars