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UBS Sees Silver Hitting $35 On "Physical Interest In The Metal"
It took just three months (and a 50% spike in price) for UBS to do a 180 on silver. In the firm's most recent Silver update from Dominic Schnider of Wealth Management Research, the author now says "Silver prices remain well supported and have been able to trade repeatedly above USD 30/oz." More importantly for those who are concerned that the recent all time high just north of $31 was a one time fluke, fear not: "Temporarily, prices could even hit USD 35/oz on physical interest in the metal due to firm economic activity." Bottom line: "Investors should make use of silver volatility for yield enhancement strategies At levels close to USD 25/oz, we are willing to pick up the metal." Then again, none of this should come as a surprise or even lead one to make investment decisions: after all it was just in September that the same person, in a report titled: "Price strength not on firm ground" said "We expect industrial demand to show some weakness and advise investors to avoid the metal" and concluded "We therefore prefer to be sellers at present levels and would reopen a position at or below 17.5/oz." Merely another confirmation that virtually every sellsider on Wall Street is merely a momentum riding, backward looking, chart monkey, and all those who seek original, contrarian thought are advised to stay very, very far from Wall Street "analysis."
From the most recent Schinder report:
- Silver prices remain well supported and have been able to trade repeatedly above USD 30/oz.
- Temporarily, prices could even hit USD 35/oz on physical interest in the metal due to firm economic activity.
- However, if 2004-2008 is a performance indicator, the persistent outperformance of silver versus gold should come to an end.
The re-rating of silver looks completed – for now Silver prices appreciated more than 80% in 2010. With the rebound in economic growth, we estimate fabrication demand grew by more than 15% last year. Strong silver imports by China and Japan are a reflection of higher silver use. The role of China as a persistently large net importer is rather new. For 2010, net imports should have soared to almost 3,500 tons. This is 50% more than before the financial crisis. With fabrication demand returning, the supply and demand balance has begun to tighten up. Since investment demand has been strong as well, the gold-silver ratio swiftly reached 45 – similar to 2004-2008.
If the term structure of US interest rates remains a good predictor of economic activity and history repeats itself, the gold-silver ratio should lack a directional trend in the coming quarters. This suggests the re-rating is completed, which is largely reflected in our forecast. Risk to our view relates to the industrialization of large emerging market countries, like China and India, which is fully under way. Coupled with heightened fears on public debt monetization in the developed world and the lack of market depth, the gold-silver ratio could drop – over time – into the 30-45 range like in the 1970s.
Recommendation
Investors should make use of silver volatility for yield enhancement strategies At levels close to USD 25/oz, we are willing to pick up the metal.
h/t fredquimby
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crap, looks like silver heading down for the next short while. time to accumulate I guess.
It's at $29.65 and rising...what chart are you looking at?
what i mean is UBS and their kind have a habit of being wrong more often than not. if this analyst is saying silver is headed up then my guess is it'll head down for a while.
My worry too.... but I am thinking they say upto $35 and it will actually be $65!!
UBS are scum. Pick any miner they cover to see that. For example HL about 6 months ago. They would pile on the shorts release some rubbish about downgrading. Once the dirty deed was done and they sheered a few investors and day traders they would go long and upgrade again.
Total and utter scum.
Do not pay any attention to anything they have to say.
It must go straight up then, because he says "pick up at 25" so he expects a drop.
My thoughts exactly. Trying to sucker folks into "waiting" for the magic $25 mark while the train leaves the station.
speaking of it, is that a huge negative divergence developing on the daily chart?
Just got a few more tubes in, and let me tell you... these American Silver Eagles (2010) look shittay. Hard to explain, but they look extra dull/dark/cloudy/uneven on the front with some shiny silver marks here & there. The backs look normal. They all look identical, so it's probably due to manufacturing process. I wonder if that's part of the low Dec production? Maybe with the "quality" section of the coinage law changed, they don't give a crap?
The highest quality minted coin that I have found is the Austrian Philharmonic. I agree that the US Silver Eagle is "so-so" in quality. I would say good things about the Maple Leaf, but the milky spots on many of my coins is disappointing - Maples are known to have milky spots every now and then.
Those are from people who have squirted because they're so goddamn gorgeous.
Your comment is so disgusting, it's funny.
Canucks know how to do two things, drink beer and play hockey.....
... don't forget the back bacon, eh!
yes, but don't forget, those are two pretty important things even for a Yank like me!
Actually it's the Australian Lunar series that are the best in quality second by the panda coins from China. In third place I'll put the britanica and the Silver eagle fourth. The Austria philharmonic is just so and so in my eyes.
I even used these to do some toning tests because I didn't really care about them and for me they are also the cheapest to buy her in Europe.
I personally like the Aussie coins, talk about slick, problem is Premiums.
I thought the same. Of course the silver eagle isnt a very shinny coin, but still the last ones I got where somehow "odd".
I also found the austrian coin to be very beautiful, and I am going to try others.
What about buffalos? They seem to be the cheapest coins available. But possibly ugly too???
love the buffalos since it reminds you that you are buying the metal, not the coin
I really like the stackable bars though
Cheapest is 90% 'junk' silver. Less premium means more silver for your fiat.
sorry, but junk silver is ugly in so many ways!
Got a sealed from the mint monster box of 2009's and they were the same.I have only opened a few tubes so far but so far they all seem to have that black smudge on one side.
I was almost tempted to send them back but really bought for the Silver value not numismatics. If I get a few choice coins out of the bunch it is worth the extra few hundred dollars I paid for a sealed from the mint box.
Live and learn I'll stick with the Canadian stuff from now on.
Your paying a nice premium for those, I would not accept them.
You will get hit if you decide to sell them.
No excuse for a an Eagle or a Mape to not be immaculate.
I hate the Austrians, the design is ugly.
It costs money to maintain the dies.
For bullion, I normally love the ASE's, except for this last batch which apparently fell victim of the manufacturing process. Rumor is that the 2011 ASE's will be nicer/briliant. Philharmonic's are just awesome. I like the buffalo's, but they aren't in the same class - kind of rudimentary. Merc rounds that I have are very nice. I need to find a direct outlet for those merc rounds. My absoulte favs are those special australian coins... koala, Kooko, Lunar series...
I was wondering about that too - My early '08 Eagles looked good but the later ones were pretty dull. The late '09 were even worse, almost a matte finish. I have few tubes of mixed dates and the Eagles from the late 80's were nearly mirror finish.
It must be the total lack of changing out the die since they no longer do proofs. Proofs require brand new polished die. I'm sure they must just move those die to production after the allotted proofs are minted but that's just a guess.
I'd like to hear an argument re: coins vs bullion? Which do people prefer to own and why? Discuss.
Their is no difference, except premium costs,and Eagles are legal tender at $1.00(sell all you want at that price).
Both are Bullion.If you held long enough some dates are worth more depending on number minted.
But not enough for me to pay the excess premium, just gets you less Slvr.IMHO
Whatever allows you to get the most silver for the least fiat (smallest premium). And I find that to currently be 90% 'junk' and then bars. Premiums that you pay to acquire are not frequently realized at sale. Especially if you sell when everyone else is. If lots of silver coming in to refiners/dealers then you wont get your premium and you will get spot or even under that.
is "silver bitchez" still in vogue here on ZH?
AFAIK, "Silver" anything is in vogue.
You could switch it up with
"Plata, putas"
plata PERRAS.
Plata pendejos!!!
Argentum caniculae!!
No-the saying is "platino putas!".
Latinum & Silver, Bitchez
Gold laced Latinum is preferred
I LOVE the price of Silver in the Morning!
silver colored underwear, bitchez
"Michael Renny was ill the day the Earth stood still, but he told us, they had a plan.
And Flash Gordon was there in silver underwear..."
...in the back row-oh-oh-oh
Yea back row!
Say! Any of you guys know how to Madison?
What's the probability, at this stage of the game, to see 25/oz again on a dip, when this level was last penetrated & closed above, on the 3rd Nov last year? I'd say less than 30%.
Just buy all the dips on the way down to 25 to be safe.
The only dip over the past 7 weeks has been 28.50. 25 seems a stretch to reach at the moment. That's all I was sayin'..
Oh..and yes, this is the paper price that's being quoted. Add on the appropriate premium for your local area.
Down here in flood filled Oz (well...it's not flooding where I'm at...yet...tehe), the lowest premium is about AUD3.80 above perth mint physical prices that they charge to their agents. But the highest premium is about AUD10.00 or more.
It seems like they're saying "Paper silver, Bitchez," doesn't it? Surf the volatility.
Swell.
Everytime I've ever tried to surf volatility, I got run over by a tidal wave.
Somebody from this firm still has the front to present a follow up "authorative" insight into the silver direction based on their last call? Wow! The balls!
They just had to pick a number that they knew was TOO LOW for silver to go - that way the gullible sheeple will be waiting for silver to drop to $25..... but it will never happen and the sheeple will never own silver (or gold). It's all a game to keep people away from honest money.
exactly - i hear even smart people around here saying gold is too expensive already.. i guess they can't just buy 10g at a time.. its all in the mind
Yeah, they want us to wait for 25$ silver,we shall not see
price again,buy the feaking silver thats,at the end its how many
oz you have.Silver over 50$ sooooonn.
When the Euro takes a permanent dump, and idiots flee to the dollar.
That will be the best time to buy for all metals IMHO.
I am looking for a 25-40% correction.
As always, a tough call. I was looking for 25-26 because I expected a real pullback in the S&P but we are not getting it. Now, Ag appears to be placing in a bottom so I am with you on 20-30 chance to see 25, at best.
Tea leave reading I'll leave in the hands of the Wall street jocks. I will not trade this tsunami of short selling, Stops don't work, price projections don't work, this market is completely rigged and backed by complicit regulators. I'll ride with my physical. Going all in. Good luck to all who take them on in the pits. If the two cartoon bears are correct, there is giong to be a shit storm of volitility in this arena of paper promises. See you on the other side. Many thanks to Blythe and her Chinese counterparts.
Silver Update 1/10/11
http://www.youtube.com/watch?v=2WgzNmbtnN0
if the Au/Ag ratio drops to 35 and silver is at $35, what does that say about gold? Makes no sense.
The second paragraph in their missive is confusing.
I read $150 dollar silver, all that looping logic aside.
ORI
http://aadivaahan.wordpress.com
The ratio divided into current cost, will give you the price basis of Slvr.
@ 35 ratio, and Gld @ 1382.50,you have Slvr at around $39.50.
Where are you getting $150?.
As you know ratios and cost per oz, are two separate issues totally.
amazing how these clueless technocrats so hopelessly entrenched in their abysmally myopic metrics are now only grudgingly acknowledging what has become obvious to even the casual observer of the markets. Clive Maund, once an inveterate skeptic of the meteoric rise of Au/Ag, who for years perennially scared his clients out of their positions, now advises to part with the physical under no circumstances and now includes "load up zones" on his Au charts.
yardfarmer
when you see an inveterate skeptic turn bullish, how do you ignore the "last bear turn bull" phenomenon that, many times, precedes a price reversal of fair significance?
respectfully...
The shorts have to go first, as they are inherently bearish. That hasn't happened yet.
Further, such rules only work in free markets, not the land of eternal POMO and QE. I'm extremely bearish on equities, but I know better than to short them, because printing will wipe out any dollar profits I would see. Shorting in terms of gold works well, but it is probably better to just buy the metal.
Deflation is real, but only in terms of precious metals.
tmosley
Here's an article that describes the dubious relationship between future market movements and short-interest data better than me:
http://www.cxoadvisory.com/short-selling/aggregate-short-interest-as-a-s...
Here is a quote from another site:
We can only conclude from all this that trying to interpret short interest levels to predict market direction is a dangerous game. Short interest statistics can at best convey a general sense of how much betting against the market is taking place, but it certainly does not seem to provide any valuable timing data.
http://www.timingcube.com/weeklies/111210/
Relying on short interest and/or capitulation to predict market movements is dubious, at best. In the rear view mirror, you can see certain breakouts on the charts, but more than likely you won't know you're falling off the cliff until the ground is in clear view.
The rest of your post is just more bullish thoughts on PM's that one could hear from any PM bull. So basically I'm saying that you didn't sufficiently answer my question.
The "last bear"s are Joe and Jane Six Pack. When they start to put savings into PMs it will be the last phase. Not even close to that yet the meme is still expanding.
The "last bear"s are Joe and Jane Six Pack...
Like people who live in trailer parks hiding gold under their removable front porch?
No, they'll get their 1 oz sLiberty or whatever. The last silver and gold bull will be the thick headed, middle class, employed 6 figure earner, whose normalcy bias locks them out of the trade of a lifetime.
If only Joe and Jane trailer trash Wal mart shoppers, burried in their ignorance, could> No they will be left to their Graham crackers and guns, living on a scrap heap.
Clive Maund is NOT a gold bear. Conservative/weak hand? Fine, but not a bear.
When I see the likes of Nadler and Christian calling for $2500 gold, and $100 silver get back to me.
Bay,
Bear or not, I stopped reading him a while back, because it was always negative towards Au.
Nadler,LOL.
Cannot see how/why he's got a job at Kitco.
"At levels close to USD 25/oz, we are willing to pick up the metal."
anything is possible but don't hold your breath ...
and if you haven't started accumulating silver don't wait for $25/oz before you begin
silver will almost certainly reach $80/oz in this current bull market - $200/oz is probable and $500/oz won't be surprising - a few analysts make a case for $2000/oz silver or for the price of silver to surpass the price of gold, but that is hard to imagine
any purchase at current prices is likely to look very intelligent in coming years
and if you have been accumulating since $5/oz, wipe that smug grin off your face!!!
It's getting really interesting. As more people grasp the fundamentals, they realize the should be long silver, so they pixel-trade it. JPM can make more money distorting the price downward to rob the virtual silver longs, but they know there's another group out there ready to take their silver away.
What's a crooked bank to do? It's fun to watch. (Popcorn, Bitchez?)
I think $25 (maybe even $20) again is possible, but I'm not holding my breath.
My silver is on its way back
Despite the Blythe Masters attack
It sure would be nifty
If it shot-up to fifty
My wife would stop giving me flack
Why pay for advice like that? All of these pundits are wrong most of the time, but not the ones who frequent ZH and associate with it. What I would love to know is just how influential ZH et al really are? Is this message getting out there in any meaningful and coherent way or are we the few, the very few who can now see through the veil of misinformation to the landscape beyond?
I've made some progress with my closest relations/relatives on these matters. An unbelieving and reluctant partner, in laws more like out laws. But they have suddenly fallen silent and they've got that look about them which tells me that for them the penny has dropped.
News items now make much more sense with the broader correct perspective against which to measure them. Its just a matter of time now till we reach the 100th Monkey.
I don't know what to make of it, but last week, I found out that my Mum cheers at the TV as if it's a sporting match, when she sees the Au/Ag prices are quoted moving up from the previous day. I did laugh hard though... as that's probably the "100th monkey" right there..tehe.
Chappa,
I got weary, and stopped altogether.If my friends bring up equites, and PM's(stocks),I ask them if they hold physical,and without giving them a chance to answer I tell them if all they own is paper, of any kind, they do not own PM's,nor is their future secure.
Then I Shut up.
Silver http://99ercharts.blogspot.com/2011/01/silver_11.html
Gold http://99ercharts.blogspot.com/2011/01/gold_11.html
http://www.zerohedge.com/forum/99er-charts-0
That price is certainly acheivable if the Dow hits 14,000.
No doubt, the economy is on fire, Palladium and Platinum are screaming due to huge car sales, and silver demand is rocketing due to an industrial boom of epic proportions.
And just wait until the rappers and hip hop guys start wearing silver jewelry, then the resulting consumer demand could push silver to $40.
For some reason, I imagine this read out loud in a helium affected voice.
just blew my cereal all over my lap top on that comment..freakin hilariuos EscapeKey
That "Trader" named "Robot" is strange
Some might even say he's deranged
That troll ain't no chick
You can tell he's a dick
It's time for an avatar change
You used to be interesting to read. Now? Not so much.
Robot trader you are making me nervous - my silver for a horse ?
I think Robo sees herself acting as an anodyne to the overheated, headaching pessimism from some quarters at ZH. That is a good role. I appreciate Jon Nadler keeping me sober all these years, wrong as he was.
A good question for anyone that trades is, "how smart am I if I am losing money". Looks like Robo makes money.
I"m still waiting for call from my local coin shop when he gets silver he can sell. I"m #50 in his list, but I just know I"ll get a call ... meanwhile, earning 0.1% in savings account.
Don't use my local coin shop as NM has a hefty sales tax on PMs. I often wonder who does business with them
WHY WAIT?.
I am relatively new to PM collecting. Do any of you ever test authenticity/composition of the silver eagles from the mint? Them selling fakes that are really untraceable would be the biggest eff you since TARP.
If in doubt, buy Maples.
+ .9999
Did nothing but Silver Maples for Xmas for my family this year. The response was the exact opposite of what I expected; thought I'd see "meh" or "ho hum I wanted iPad" but everyone was really geeked to hold it in their hands.
Converted 7 people that day, although my dad was already a semi-convert as he's been collecting junk silver for years.
Same here... have a very wealthy Xmas birthday boy friend... gave him a mounted Maple at his traditional Xmas Eve bash, and he was showing it off to everyone... for the guy that has everything!
So are we to understand that you mounted his maple?
The Obama admin is ready to further debase coins (2011 budget 'alternative materials') and I find it a disgrace.
Is it not a manifest, clear-as-hell's-bells sign that an empire is in descent, when it's coinage loses integrity and beauty? I have a lot of Eagles but have purchased none post-dating 2007 and it sounds like I may not.
If I gave my family PM's for Xmas, they would sell it within 2 days at PM's R US.(at 40% under spot).
+1
'willing to buy at $25'. Ummm that'll be a crash down price to 12
I saw somebody on goldsilverus say something like"if silver breaks $50, I will offer arselicking"
If a big bank goes bullish on something which is not indices (individual stock, Forex, commodities), it's time to sell.
I'll see your $35 and raise you to $50.
http://finance.yahoo.com/news/Sprott-Physical-Silver-Trust-prnews-187235...
"momentum riding, backward looking, chart monkey" +1
UBS have the best traders in the galaxy
-Lehman Quant
They surely knew how to write down 42 Billion USD in losses fast.
hard to understand why if they know its going to 35 that one should hold out to buy at 25.
I guess if you throw enough stuff up on the wall, some of the forecasts will come true and those become the lead stories.
Gold. Gold will be CRUSHED. Silver? Eh, not so much.
Silver is always more volatile than gold.
but always less valuable
NOT always. There have been times in history when silver was equal in value to gold. Further, we live in unprecedented times, where nearly the entire above ground stock of a monetary metal has been depleted by industrial usage. Indeed, industrial usage where the material properties of the metal are so valuable that a supply shortage could easily push the price to par or beyond.
Also, gold is going up, not down. The only way it will go down is with the death of Bernanke and his ilk.
It is evident that there is a shortage and delay in deliveries by following the inventories of the US Mint, ScotiaMocatta, Sprott Fund and other bullion dealers. In my view, what is really happening, is that the control of the silver market has shifted from the "paper masters" to the "physical masters." Meaning, the minors and refiners are in control of the game now and you can bet that they are intentionally delaying their shipments to ride the silver price even higher. This is similar to how some crude oil tankers literally did figure-eight cruise paths in the Atlantic in 2008. Do you think the minors and refinors really give a shit about rushing inventories out the door to save the banks that have been suppressing silver prices for the last three decades? I don't think so.
News from Sprott on their bullion delivery... interesting point on the level of transparency in the trust... they will be posting the S/Ns of all bars in inventory.
http://www.prnewswire.com/news-releases/sprott-physical-silver-trust-updates-investors-on-the-delivery-status-of-its-silver-bullion-purchases-113192274.html
Ecoman,
I hope your spot on.
Bout time someone except JPM did it.
No physical silver bars http://www.bullionbypost.co.uk/silver-bars/
I have no trouble buying silver here:
http://www.mtbcoins.com/code/bullion_silver.html
Did I miss it?, I saw no pricing.
If you cant post pricing, you get no call from me.
Do not listen to these UBS scum.
The only purpuse of bankers is to
separate you from your money.
Gold and silver accumilation stops
this criminal proces and starts
building your own personel wealth.
Just hide your capital from greedy
slymmy finghers of gouverment
and banks;it belongs to you and
your childeren.Exchanging bad quality
money(fiat) for the best quality money
(gold and silver),that's what this all
about.Prices only usefull to calculate
how much ounces one can buy;the
more the better.Why settle for crap
money when you can save up
the real thing.
Yeah, their calls are after-the-fact, anemic, or wrong.
"Then again, none of this should come as a surprise or even lead one to make investment decisions: after all it was just in September that the same person, in a report titled: "Price strength not on firm ground" said "We expect industrial demand to show some weakness and advise investors to avoid the metal" and concluded "We therefore prefer to be sellers at present levels and would reopen a position at or below 17.5/oz." Merely another confirmation that virtually every sellsider on Wall Street is merely a momentum riding, backward looking, chart monkey, and all those who seek original, contrarian thought are advised to stay very, very far from Wall Street "analysis."
UBS, like many of the investment banks, has radically altered their view of economic strength. Witness their recent increase in earnings estimates, price targets, etc. Changing their view of industrial demand seems logical as a consequence of a change in their macro forecasts. Investment demand that might be increased by a report such as this only helps those of us who are already holding. "Hi-O Silver...Away!"
I miss the Lone Ranger. Anyone know where I can find re-runs?
youtube.com has snippets of just about every show you can think of
here's a Lone Ranger clip:
http://www.youtube.com/watch?v=B5xpQ84B30Q&feature=fvsr
thanks, bronzie. I needed that.
repeated
Just back from my bank here in CH, up to now delivery of Au and Ag bars took 1 or 2 days (if ordered after 3pm), I now have to wait until next Monday!
I hear a stampede over the hills fellas.
As I have said before many times, I don't trade silver well. However, I would watch out here...as here comes the stud man USD...and you know Blythe will not be far behind....
http://www.youtube.com/watch?v=Iu5surELOU4
does the link contain a virus?
Only chart I use is the 650year silver chart.
Silver has been in a bearmarket for 600+
years and reduced to 0.5% in value in
2000.Such a valuable,precious metal for
almost nothing??Price has increased a little
to +/-3.5%so far.This historic bullmarket
has a long way to go and will be breathtaking.
Silver is now more usefull and needed
then ever before.With stockpiles depleting
and demand from industry and investers
rising..............................................
http://goldinfo.net/silver600.html
All time high for silver on this chart
$806 in 1477.
"650year silver chart"
one of my favorite charts
the $806 high is in 1998 dollars - today that high is equivalent to $1081.93 according to the bls.gov inflation calculator
can I say "silver bitchez" twice in the same thread?
This is addressed to Tyler:
Can you please try to give us an update on the 3 silver manipulation lawsuits against JPM.
Are they months or years' away from court dates?
The only thing driving up commodity prices are speculators armed with cheap money and super fast computers. This is causing a havoc in the lives of rest of the population and pushing them towards poverty as they can no longer afford the basic necessities of life.
Regulators are too slow to react and take ages to identify and take measures to solve the problems.
Total ban on speculation is strictly required all over the world to bring relief to the rest of the population.
http://www.marketoracle.co.uk/Article24581.html
Can we assume that buying physical silver to protect against the eroding dollar is not "speculation"?
Yes you can assume that.
Buying physical to preserve wealth (purchasing power) while the dollar loses value is not speculation, it's wealth preservation.
Speculation would be trading paper silver with no intent to deliver physical nor take delivery of physical.
Speculation with Silver has been on the short side.
Wow,
Your ignorance astounds me. If we are running low on commodities, then the exact thing we need is HIGHER prices which will stimulate more production. Why can't socialist morons leave markets alone?
http://www.youtube.com/user/BrotherJohnF
You are getting junked because of your sweeping conclusion; but your point is valid.
I guess thats why I have to wait for 30-40 minutes to pick up called in orders huh?.(24-48hrs in advance).
The excitment in silver will really begin when we exceed $50 and the sheeple start getting in.
Someone raised the question about fake/impure silver, and I didn't see where it was addressed other than buy Maples. I also saw comments about blotchy looking ASEs. I'm pretty new to all this, so my question: Could we be buying less than .9999 silver in the new ASEs? I've noticed that my 2010 ASEs don't ring like my Morgans. Just wondering....thx
I don't know if anyone has done tests to see if any of the ASEs (or any other silver coins) are fake. Not as much money in that yet, not like gold at nearly 50 times the price. Does anyone know the equivalent of Tungsten for use in counterfeiting AG? Palladium is closest in atomic weight, but obviously far more expensive. I guess that the only way to cheat is to create a sandwich with a core of less than whatever silver purity the coin is represented to be, but unless you're dealing with something very close in weight, then weighing and measuring the coin will detect a fake very easily. Anyhow, going to all of this effort for $30/oz. doesn't seem to make sense for anyone so inclined - and there's probably more money in simply jacking up premiums or selling a crap coin as a "collector's piece" without risking an encounter with the Secret Service.
Note: ASEs are only .999 pure. The Canadian Maples are .9999. However, you are buying exactly 1 Troy ounce of silver with either.
Me, I don't like to pay the huge premium, so I buy junk silver near spot from local dealers.
Also, if anyone is concerned about the viability of the currency and believes that someday we'll use AG for transactions (albeit temporarily, until some new currency, backed by gold or silver, is produced and accepted), then you don't necessarily want to hold big coins like ASEs. Granted, right now an ounce is roughly $30, but if it goes to $100 or $200/oz. in the future, how are you going to buy a gallon of milk and get change for it? With junk silver, a dime has .07234 troy oz.; a quarter has 0.18084 troy oz.; a 90% half has 0.36169 troy oz.; a Morgan or Peace Dollar has 0.77344 troy oz.; a 40% half has 0.14789 troy oz.; and a War nickel has .056263 troy oz. Easier to use in smaller denominations, no?
Unfortunately, I fear it's slipshod craftsmanship, as the U.S. Fed swings further to the Left and neglects such paltry things as a country's currency in pursuit of more urgent matters.
I have stopped buying Gold in 1oz coins, and am now concentrating on .25, and .5oz coins, @ 2.5-3% prem over spot, can't go wrong.The .25's are small enough they hide really well, and are reasonably priced, compared to 1oz coins.
Thanks to all who answered my question.
I knew I asked the right folks!
:-)
Prefer bullion to coins. If you go to Tulving, you'll see a 2.5-3.1% premium for coins(comparing gold products)Back I can't recall when,it was
5-7$/oz.
UBS=U bastard slime!! Like I need these fraudsters to pick a winner for me!! Been accumulating silver eagles for 3 years now and these rat basturd gangster banksters never recommended accumulating any physical!! Sell 'em all now and would have a better percentage return on anything the banksters ever recommended! Hard currency bvs paper ponzi and the ponzi is losing in natural consequence of sound honest money financial laws broken for decades!
Heh-heh
Only one thing, the writer suggested guys to wait for $25...
http://goldeneconomizer.blogspot.com/