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Silver Shortages Accelerate As Wholesale Supplies Plunge: Krieger/Keiser - 1; JP Morgan - 0
Is the Kriger/Keiser "Short Squeeze JPM to Oblivion" plan working? Judging by the wholesale availability of silver (or lack thereof) the answer is a resound yes. In Coin Updates News we read that "as of today, there are no longer any regular wholesale supplies of the 1 ounce through 100 ounce silver rounds and bars available for immediate delivery. It may be possible to locate incidental quantities of some product, but most wholesalers are now promising two to four weeks delivery to allow time for the silver to be fabricated." Over the weekend we noted that even at the smaller, retail level, Silver American Eagles sold by the US Mint, have surged to a 2010 high in just the first three weeks of November. Is America now fully intent on ending Jamie Dimon's domination over the precious metal space?
More on the wholesale silver shortage:
As a result of the shortages, premiums have started to rise. So far, the increases have been modest, on the order of 0.5-2%. However, if the shortage grows, expect to see further and larger premium increases in the coming weeks. We could see a repeat of the late 2008 gold and silver buying frenzy, where product availability got as slow as 1-4 months after payment.
At the COMEX close yesterday, registered (dealer) silver inventories fell below 50 million ounces. Even if you include the eligible (investor) silver inventories in the COMEX bonded warehouses, which are not available to fulfill COMEX deliveries unless the investor specifically chooses to do so, there were barely 107 million ounces to fulfill around 725 million ounces of contractual obligations. COMEX silver inventories are now down more than 10% from mid-June even while the amount of silver owed has soared!
On September 16, the COMEX further raised the silver contract margin requirement to $7,250—even though the price of silver had been dropping since November 9! What is suspicious is that a lot of “insiders” were liquidating their silver positions starting the afternoon of November 15. Is it possible that they may have received advance notice of the coming change in the minimum margin account requirement and sold in anticipation of lower prices the next day?
The next round of gold and silver options expiration occurs on Tuesday, November 23. The attempt to suppress gold and silver prices upon the release of the US jobs and unemployment report on November 5 was almost a complete failure. Unless something is done to knock down gold and silver prices before November 23, a lot of call options will be exercised, which would further increase the demand for physical precious metals.
I suspect, as do many others, that the two rounds of increasing gold and silver margin requirements were timed for no other reason other than to try to help hold down prices through November 23.
Most of this should not be news to Zero Hedge regulars who now realize that the last battle of endless fiat liability dilution is being fought not in the stock market, but in the precious metals arena, where the onslaught of physical purchases versus shorting in paper claims has never gotten as far as it has in the past month. Should JPM be forced to continue covering, not even instituting an infinite margin requirement on silver purchases by the Comex will do much if anything to prevent the "dreaded" end of a fiat system. Speaking of, if anyone has the recent performance of Blythe Masters, we would be overjoyed if it were shared with the Zero Hedge community.
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Contrarianism is not really a valid trading thesis.
But hell, if you are stupid enough to go against the minds here, feel free to go all in short. I'll happily grind your bones for phosphorous.
One of the best lines in any ZH comment EVER!
+27.72
all the people are sick and tired of jp morgan, with their credit default swaaaps, derivaaaatives, mortgage backed securities, short positioning of silver and gold with paper...
http://www.youtube.com/watch?v=61NFZXVKYSE
Getting to the point where I might start selling some PMs - especially gold. Been long since 2002 but I don't like gold's reaction to Ireland. Thought it might run a bit. Decisions. Do I cash a bit out and grab some more equities? Tough call.
You are good craic, Harry. Have you got paper gold or physical? I will buy your physical if you give me a generous discount (say 5%).
Got both, mostly physical. Won't sell that but might sell the paper. I'll watch how the day plays out. There are some winner stocks as I pointed out a couple of days ago. In AAPL at 300 and PCLN at 400. Thinking of selling the paper and throwing more in those two.
It's early yet, but where's your monster rally for today?
Time to sell the gold and become greedy on AAPL and PCLN. As you stated those are stocks to own for the long haul and gift to your children.
Yea cause AAPL isn't an overinflated play.
Yep, sell your PM's and buy equities Harry. Genius call.
Yeah, whatever would we do without Harry Wanker's investment advice. . . . . .
I'd sell paper PMs.
And get Phy-si-cal, Phy-si-cal, get me into Physicaaal.
Let me hear your body talk...
What happened to SPX rocketing higher on the Irish news Harry?
Never had a 10 bagger, eh Harry?
Sold all my metals and doubled down on GM- Yee Haa!
Dumping physical now is insane.
Hold it,within the next 2yrs, you will be a very happy man.
China is already snagging 7000 Tons, (who knows in what increments from Perth, and they sell none of their mined PM's).
India is apeshit, all the Pac Rims are, on Slvr as well as Gld.
What do you think will happen to the prices/supplies of PM's if those economies really got geared up?,we're talking over 2-3 billion NEW PM buyers.
Not counting the Banks holding............and buying.
As the rest of the PIIGS melt down after Jan 1st, the SWHTF again.
Europe has to go QE to infinity also, or implode.
Yet can someone explain to me why silver and gold are getting the short end of the pomo today? that take down was pretty impressive.
Options expiration tomorrow and the fact the Dollar Index is rising due to EUR fears. Ironically the world flies to the dollar for quality. And Silver/Gold being priced in dollars bear the brunt of that.
I am glad to see that you recognize that it is only the contrived and artificial dollar index, and NOT the dollar itself, that rose today --- far too many equate the one with the other, as our political and financial masters would have it, to further their sociopathic brainwashing and deception of the masses.
You got it, it's just a temporary respit.
Before Reality returns.
This is a fun way to get up in the morning. I would suggest that this is a "first salvo" in the battle only. We can force some honesty in the market value of silver- maybe even gold, but then what?
The Bernanke can continue to print as much as he wants. The real battle will not be fought over silver and gold, although it will protect your wealth from further confiscation. The real war will be fought or not- as a decision of the general electorate to rebel. Just as Ireland has come to a crossroads and must decide:Pledge our entire infrastructure and savings in order to bail out bankers and bond holders or default.
This is what the war will be fought over. Just as in Ireland, the bankers own the politicians, therefore we can not trust in politicians. Victory will require protest, either peaceful or violent, until the default is established and our wealth is safeguarded from the bankers.
There will be further work to be done, but it all hinges on this one issue.
Sean,
"Just as Ireland has come to a crossroads and must decide:Pledge our entire infrastructure and savings in order to bail out bankers and bond holders or default."
Great point.
I have thought about this a lot.I am sure most here would be willing to give everything up for this country, to get it back on the right track, and sacrifice.
IF, and theres always an IF or a BUT.
The PTB, had not run this into the ground,(and continue to) and are/have been making trillions off of us the whole time.
If they think I/we are/ am going to willingly take a Barney Fwank, and allow the seizures of my lifes labors for their screw ups, then they better bring a lunch and a lantern,and lots of Mall Ninjas.
I think there are plenty more just like you. Will it be enough? Will others be satisfied to protect their own wealth in hopes of riding it out? People like to talk tough and ammunition and guns, but I rarely see someone willing to openly defy the elites, even on this site.
I think the American experiment ended long ago. Now, we are just quibbling over price.
No silver shortage here: http://www.gainesvillecoins.com/category/293/Silver.aspx
NIA approved. nice.
When you see NIA, run the other way.
They are waiting for delivery...hence the reason
Made In The USA 10 troy oz Bar. fine silver 999+. shipping December 3rd It's the Dec 3rd that may or may not be the case.Otherwise they have lots of coinage.
Bars now listed as out of stock
No name brand 100 oz bars? No common Morgans? That's not good.
Shipping adds about $1.30/oz for smaller orders to the prices so figure that in as well.
They most certainly do have a shortage. I went on both Friday and Saturday. They had just got 65,000 ounces of eagles in and were down to about 20 rolls. Pandas are flying off the shelves at $39 too. The only thing they have a lot of are Rolexes and the stupid collector rounds. And the NIA poster in the showroom was the first thing I asked about on my initial visit. They said that NIA simply made small to medium size purchase at a dozen different bullion dealers and Gainesville scored best on customer service, turnaround time and premium/shipping cost. In the words of the owner, when someone gives you an award that says you're the best dealer around you accept it, even if it comes from a questionable source...
Monthly gold and silver charts are parabolic and I expect a substantial correction.
More info at my blog.
http://stockmarket618.wordpress.com
Really, well are parabolic equities with 100 P/E's also due for a substantial correction as well do you think? And if not, why?
Don't you remember the classic statement from some talking head on CNBC a while back: "Things are only in a bubble because people are buying them."
Nonsense. Throw your charts out the window.
The PMs are up on fundos, only. The silver comex is broken and the gold comex is crumbling. Both are headed much, much higher.
Oh, come on, Turd! You can't chart sentiment. Or can you?
Where does one enter the "crumbling" element of the equation, and how does one quantify that? When they figger that one out, I'll trust TA.
If you have the mental stamina to read the whole article here is PRECISELY what crumbling looks like:
https://marketforceanalysis.com/articles/latest_article_081810.html
Thanks! I'll set that aside for my evening reading. Looks yummy.
I just love those graphs and shit. My cup o' tea.
+1 Turd. The USD is up, the market is down hard but Au is flat and Ag is up. Loaded AGQ with a 150 price target by EoY.
What about priced in Euros?
You're late to the party. The correction already happened
Indian bullion are charging premiums for bars. The game, as they say, is changing.
ORI
http://aadivaahan.wordpress.com
Price control. Can't let it get to high as options expire tomorrow. JPM
Yes. Options expiry tomorrow. That's why the bullion banks are fighting tooth and nail to keep the price down. So the majority finish out of the money and JPM can ring the cash register - again!
Just typed 'crash' into Bing and 'crash jpmorgan buy silver' came up third on the list. Critical mass?
Try doing that in Google. They will return results but they won't dynamically "auto-fill" as you type in crash jpmorgan.... The bastards have disabled that for "Crash JPMorgan buy silver"!
Unbelievable, f'ing Google. You'd think those greenies would want to flush the New World Order down the toilet.
HAHAHAHAHAHA...Google IS the NWO
post problem
How so? They rely on animals to cut their grass instead of using fossil fuels. They just bought a giant swath of undersea real estate of the Atlantic Coast to build 100 miles of Wind Farms. They have their own bio-fuel power plants. They invest milions in alternative engergy start-ups. Dumping Fossil Fuels isn't very NWO to me, it sounds pretty Left Wing.
They're probably held captive my their need to issue for shares to fund said Green projects and need people like JPMorgan to do it.
there is always more than one head to every evil beast.
google boys are bilderberger club members, and their camera-cars are under increasing scrutiny in the euro states. . .
http://www.indexoncensorship.org/2010/10/uk-google-street-view/
. . . and that's just ONE topic relative to their invasion-of-individual-privacy issue - you can "google" more if you like. . .
+10
Don't badmouth the CIA's IT Dept. They're watching, and they have pics.
Seems to work OK even in Google, typing in Crash you get the 'crash JP Morgan buy silver' about 3 down but still comes up.
On Yahoo! typing in 'crash' gets you the full 'Crash JP Morgan' right away.
I just typed "cras" into google and it filled it in for me at the top of the list. The whole page is nothing put links and videos to crash JPMorgan. Wahhhh Hooooo!
This soldier spent 156 rounds if ya know what I'm sayin'.
Yeah, I have been trying that for a week now and never get a result. If you type in google sucks you get no results either :p
might just have to get me some physical today
I bought everyone in my extended family Silver for Christmas from ApMex. I went for Johnson and Mathey 5oz bars. Nothing like killing two birds with one stone. Christmas shopping done and I also got to lock a Silver Chastity Belt on one Blythe Masters.
http://en.wikipedia.org/wiki/Chastity_belt
Sorry Blythe no key for you, ONE YEAR!
tyler, is there a Mike Kriger as well? cause you have Kriger typed in on your article. which one is moving to boulder?
ummm...you all know that there are other sources of silver other than freshly minted coins, right. Todays reaserch project, let's list all the places where we can find Silver in our lives, I'll start: Circuti Breakers, next.
Solar panels.
So, to salute Leo, buy chinese solars . . . and Crash JP Morgan!!
Just posted a new blog post about one of the top German precious metals dealers, having to wait 6+ weeks on new delivery of American Silver Eagles.
http://AgAuPM.com/westgolds-new-silver-eagles-shipment-not-before-2011/
Thanks for the info.
By the way, APMEX received 250,000 2010 Silver Eagles at the end of last week.
Is there any reason to get the 2010s? I just bought twenty 2007s for $600
Did I get ripped off because they are 2007s? same purity
I told my folks forget presents of electronic gizmos or whatever, I said just buy some silver coins thats all I want. Spread the word around.
that margin increase - as evil as it was - was tantamount to an interest rate increase...
and check your u.s. government silver - it might be mercury, nickel, tin or some other base metal....
keep the tin for hat repairs.....and fuck the banksters...
Silver approached 28 overnight and, as expected, pulled back. $28.20 is the last line of resistance before a move back to the highs of two weeks ago.
Wonder ifin the U.S. slavoradors have enough silver to bailout the western banksters when the paper ponzi USD gets vaporized!!??
"Warriors of the PMs Mania" HEDGE YOURSELF!!!
If you want to avoid crazy premiums at APMEX, Kitco, and others, consider buying from suissegoldcorp.com. They are the lowest priced sellers I have found. Used them over the past year. Only downsides are:
1) The don't take check - you have to wire funds.
2) Delivery is a tad slow.
That said, if you can save a few hundred or thousand on your purchases, I think the downsides are OK.
Can you point me to some reviews of Suisse Gold Corp before I just send a grand to some canadian website via paypal?
Thanks for sharing that. They're close enough I could hop the ferry out of Vancouver & drop in on them.
Wonder if I have to pay British Columbia provincial sales taxes if I purchase from them since I live in BC?
Goodbye Jpig!! hehehehehehehehehe! rat bastards!!
700 oz here... and 7 kurgs too. Shipped. BD
Silver
http://99ercharts.blogspot.com/2010/11/silver_22.html
http://www.zerohedge.com/forum/99er-charts
Up is just up, ain't it?
What, 4 weeks for silver rounds to be "fabricated"?
That's why paper money is so much better. It can be "fabricated" almost instantly.. at the push of a button!
(ordered another batch of phys.silver during last weeks "Ireland scare" drop.. lol. Keep taking the market down boys. I'll keep buying more..
And thats why all Q/E should have to be printed in dimes....go ahead UST print $9,000 million worth of POMO daily....in dimes!
b. Peter Cohan
c. Dennis Gartman
d. Me
e. Harry Dent Jr
E. Harry Dent, Jr.
You are correct Sr. You won a silver eagle, however since we don't have any here at Kitco, we'll have to send you a paper eagle
Doesn't matter anyway if Kitco can deliver or not.
You can't eat silver.
Ag to $0.50.
...
New ZH-er John Grannville (above) seems to be acting very JPM-ish. Please confirm that he is your new bitch.
Thx, inquiring minds want to know.
Hey DoChen, is it that obvious? yeah am getting tired of this routine so I figured I start something new. He's not running like JW or Jonnybraveless, he's here to stay....well, at least until gold goes to 1450.... for sure
LOL. Gold to $0.00055.
Gold to Jon Nadler's IQ!
Good only for lining public urinals, just as Lenin predicted.
PS: When gold is finally put to such a use, don't try to eat it!
wait, wait Akak, I never said it would go that low. Don't put falsehoods in my mouth...I have enough there already
I'm surprised you have any room left in your mouth for falsehoods, what with it already being crammed full with Ben Bernanke's, Timmy Geithner's, Bawney Fwank's and Jamie Dimon's members, small as they might individually be.
Harry Dent, Jr. has done some excellent work on demographic trends. He is very intelligent and understands the structural weakness.
Unfortunately for Harry, he doesn't know jack-shit about money. If you trade on his advice, plan on being destitute.
On the other-hand, you Jon Nadler, are a complete idiot.
Gartman,he is the worst.With Clive Maund a close second.
f. Orly
ha ha ha
physical silver bitches?
Has anyone noticed that CNBC hasn't talked about silver all day?
CNBC I assume is talking about their own navels all day as usual.
So much feel-good, pro-establishment "recovery" propaganda to push, so many stocks to pimp to the buy-and-hold suckers, so little time ....
Just confirmed my thrid round of physical purchase of silver from Sprott: sprottmoney.com
Let's all be true patriots and do the right thing.
Looking for a bit of an "Options take-down" through this week's October expiry fun and games to make a Sprott Physical Silver Trust buy myself.
Are you taking delivery (Sprott is one of very few I would trust to hold it)?
Here's the plan guys:
1. Open a Chase Freedom Credit card- current promo is 0% APR on purchases for 15 months, plus $100 for first purchase.
2. Use JPM's $100 for ~4 silver coins.
3. Use rest of credit limit to make JPM pay for your silver- at 0% interest!
4. Pay the bitches back in Feb 2012
This'll take JPM down real quick if we all did this! I did it on Saturday!
Aviator,
Oh, the irony. It's a beautiful idea. Who takes credit cards for physical?
http://www.store.firstmajestic.com/
I believe that APMEX will accept credit cards for orders less than $5,000.
just bought 100 OZ... bye bye Blythe...
JPM can afford lost $10.trillion, Fed boss will bait them out.
I think this says it all...
http://www.optionsninja.com/OWP/buysilver_baby.html
Clint Liquor:
www.apmex.com will let you use a credit card for physical purchase.
Happy shopping curteousy of JPM!
Seems a pretty unimpressive showing in metals so far this a.m.
How do you explain that silver is up 1.17%, while palladium, another industrial/precious metal, is down 2.57%?
This is a very rare divergence--something is up.
Crash JP Morgan, Buy Silver
Try this for fun: use a Chase credit card to buy your bullion every month. Just after the closing date on the billing cycle. You essentially force ol' JP to carry your bullion purchase. Life is good.
GG
60ounces a week ago.
tomorrow another 100.
You go. You should feel spicy.
Berlinsbest?
Maples and Eagles available at Tulving.com
Apmex has Silver
When these two are completely bare and taking orders 4 to 6 weeks out
I'll be impressed. already have my stash.
Go silver!!
OK people, here's the next stage. You are all giving ounces for gifts this year right? Well, let's get a CRASH JP MORGAN, BUY SILVER ROUND!!!!!!!!!!!
Think about it. It would let them know why they have it and it would be a bit of history for the future. C'mon people, who can do this round?
Hommel?
Apmex?
Sunshine?
Bueller?
This is a wonderful idea. I'd pay a premium to have this specific memorabilia, that is just true.
It costs $2000-$4000 for the die if you can find a mint to produce them. Of course there is also the cost of minting and the silver stock.
A few months back Apmex had an "End The Fed" 1 oz round, it lasted about 2 days - it never came back into stock. I would be happy to buy some "Crash JPM's instead".
Started buying antique and used silver when the bullion price was below $10oz at the last big take down. I recently bought a partial set of German 800 silver flatware
with the auctioneer's premium for less than scrap. Two months ago I bought a partial high quality English sterling flatware set from the 19th century for less than scrap. I expect one of these days to hand over a 2 oz. fork for a bag of groceries ;>)
The question is what if a number of Govs. collude to try to take down gold and silver?
since that would stop the slide in paper currency. Anybody heard anything like that??
The next parabolic move in gold and silver I'm going to liquidate half my positions in AGQ and DGB and continue to hold the physical.
My dealer in Germany seems to be running low. Just love those Eagleas!
Buyers are coming out of the wood work to invest in real money. Silver did not break its weekend price, gold has now popped up, and Platinum may have found support as well. I am astonished for a few reasons. First, price action would dictate a lower silver price (vs the dollar and equities) going into op/ex but that is how late in the game it is, and the fact that the metal is highly leveraged , but with Keiser/Kreiger soldiers have surrounded the Dinosaur Kings' castle and are depleting the "King's" Ransom with vigor. We may have forced the hand of the manipulators. I would hate to see Central Banks get involved and buy silver **wink**
The dollar has been on its deathbed all year. Silver and gold will no longer be manipulated. Platinum needs a sniper to take the "M"arket "M"anipularors off it's back, but all in due time. Our siege on silver is now almost complete, and not only have we won nearly every battle until this point, the war is nearly ours!
Max Keiser is fighting the good fight. His army of silver knights will do wonders on our battlefield. We have the enemy sourrounded and now it is time to finish the siege. I will buy silver today, as I am quite sure the price will rise slowly into opex, and then break out after words. I will also afford myself reserves for the December 11th silver bomb Max is planning.
I have said it before and I will say it again, ...I go to war with these damn JPM "M"arket "M"anipulators. Join me! BUY SILVER!
Just got
20 PCS U.S. SILVER EAGLES 2007 W IN BOX'S OF ISSUE
for $620 w/ free shipping.
Did I get ripped off? I'm trying to invest, but I'm new at this.
Stop sweating it they are the same in 2007 as 2010. You did not get ripped off some people are paying even more than what you paid. 1996 is even more sought after. Just hold your PMs and buy more if you can.
Seems good to me. Shipping is usually about 15-20 bucks for a roll. That would be $30 each. Actually a good price --$2 over spot per Eagle is quite good. If you paid with credit card, than its a smokin' deal.
Northwest Territorial Mint (and others, I'm sure) offers minting options for custom designs - military, religious, etc. to commemorate special events. If enough volume is there, the tooling costs could be justified.
I'm thinking a limited edition, commemorative issue of JPM's downfall is in order. Maybe the JPM logo suspended above a toilet, with "Silver, Bitchez" on the reverse side. Who's with me?
+ 1
Obverse: www.zerohedge.com
Reverse: Silver, Bitchez!
For my Roth's I decided to move into a Silver ETF that I believe is managed by a company that is actually Bullish on the Metals and where when I buy ETF shares physical silver Bullion is actually taken off the market and where it redeembable in bullion if I so choose. I sold all of my SLV and purchased the new Sprott Physical Silver ETF
(PSLV)
Not that I have a bias against JP Morgan being the Custodian for SLV or anything like that.
Isnt tomorrow the day they usually raise Comex margin requirements? If so, that would make 3 margin raises in 3 weeks. Dimon's dog is barking because he smells fear. Squirm you squids!
I'm in Ireland, just pulled a bunch of cash outta the bank and bought 50oz of silver coins. I feel good now..... and they're SHINY!
Stackilicious!
Am buying silver bars for Christmas this year.
brazilian spot gold is being traded around $1580/oz since several weeks ago...
It sure seems like this default is going to occur. JP Morgan doesn't seem to sweat it though which is my only concern. When the loan sharks owe somebody I guess that's how it is. 2000 ozs. + I'm in.
I bought the last ten rounds from my local dealer today. He says they are 5 weeks out on any more stock (due to demand).
Traded my Au for Ag, and since up 10% versus 1.5%.
Is it just me, or is there a huge head-and-shoulders developing in the 6 month gold chart? Not that I'm a big believer in reading the tea leaves, but in some was the chartists popularity is a self-fulfilling prophecy, so you have to take note of these things even if you don't believe in them (if that even makes sense!).
Unlike gold, silver is not deemed as an "investment" in the UK and we have to pay a whopping 17.5% VAT. :(
That's nothing, here in Ireland it is 21% on anything not collectable and 17.5% on coins. got stung for €800ish on my last delivery, now leaving it in a swiss vault for collection. Will drive over for the weekend to collect.
And I thought I was getting fleeced! Good call, but Luzern is a long way to drive! Have a nice trip and safe journey back.
ebay takes a 10% cut and Paypal another 5%. -f you get silver at spot you are stealing
Your point is well taken, even if your eBay/Paypal fees are WAY high. I'm a power seller since 1998 with over 25,000 sales, feedback over 11,000.
If you can, as you say, be a buyer at spot or a buck over, you are doing fine. It's the seller who is getting hosed. But most of the consistent gold/silver sellers got their stock long ago at much lower prices. By the time the coins reach eBay they make money anyway, regardless of sales fees.
I'm also an eBay seller of coin, and that's how it made sense - mostly junk silver and CDN Olympic sets that I had forever and decided to create some cash flow - stopped last week though when I sold out my current listings and am holding on to see what happens - don't need the cash that bad to be selling my rounds and bars, especially if the price is going to double shortly.
I do have a boatload of CDN 50% Silver Dollars and other commerative strikes that I should blow out - nice fractionals at .374 ozT each, especially if this silver bomb needs more fuel, Charles and Diana anyone? - heck, at this rate I think a lot are going to end up buying silver on the Bay. A monster box at 10% premium today might look like a steal in a few weeks!
I'm selling off the proofs of all types, gold and silver, just to get the premiums. And then I'm buying circ grades, mostly Silver Eagles, with the proceeds. The proof premiums are disappearing fast! I was surprised to see that. Very little mark up on proofs above the circ coins now. All the slabs are going as well. Selling premium coins to "trade" for the common so I can get the most bang for the buck.
I have a silver poker set now! Here's what i did in "08" for giggles when silver was under $10. Bought 120 cull silver dollars and 240 circulated Walking Lib old silver 50 cent pieces from APMEX. I didn't have any more room in my safe for more bullion so I figured at that price chuck em all in a monster box and make a poker set. Coolest damb poker set ever boys and I think it's worth over 6 g's now plus I get to play with old silver coins which is always fun. Oh. Haven't bought silver since it was under $20 but did buy 4.5 oz platinum last week. Otherwise I'm tapped out. JPM won't be able to buy in at my poker game by the time all this shakes out.
Hey szjon,
Silver coins stamped as legal tender don't attract any VAT in Ireland at present, neither does gold. dunno if that's going to change in the "Budget" but at present it's ok. So looks for stuff like Austrian Philharmonics-stamped as legal tender. No VAT :)
There is another way to buy silver, Numis Marketing. They sell numismatic silver and gold coins,but they just announced that they now have rolls of silver Eagles.
Numis Network is now carrying PCGS certified rolls of silver eagles. A PCGS roll is a tube of 20 silver eagles that has been certified by PCGS to have not been touched, searched or circulated. This is unlike any normal roll you would buy as any rolls the public buys have been searched for the MS70. The cool thing is you hardly pay any more for this certified roll than a regular roll of bullion. You do not pay broker commissions and this does count as volume if you are a member of Numis Network. Currently loose eagles are selling for $30-$31 each, a Numis Network PCGS roll sells for $32 per eagle and each eagle is guaranteed untouched, uncirculated and unsearched.
For info check www.numisnetwork.com/collectorscoinchest