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Silver Coin Premiums Soar Above 50%
Courtesy of Sharelynx' Nick Laird who tracks precious metal premium by vendor, we continue our recent series showing the discrepancy between paper and physical metals, in this case silver. As Nick notes, APMEX price premiums are a lot higher than the Monex. And as can be seen in the charts below, premiums rose above 50% for 1-19 coins & above 40% for 500 plus coins.
For now, gold is stable.
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Who is lying?
APMEX = Silver for idiots
^^^ This above everything else. Get online prices from a dealer out side the US for silver bullion and bars and see for yourself. This article is bull.
Buh some fawking BITCOINS you ignorant t00ls! No premiums, no bullshit!
https://localbitcoins.com
Problem solved:
https://comparesilverprices.com/
Oh, and for Gold:
https://comparegoldprices.com/
Better yet; don't buy American Silver Eagles (that are minted by the TENS OF MILLIONS). For about the same premium, buy Silver Bullion with Numismatic Potential (mintages of only 20K to 45K):
http://www.jmbullion.com/silver/silver-coins/america-the-beautiful-silver-coins/2015-atb-silver-coins/
http://www.silver.com/2016-1-oz-silver-australian-kangaroos-bu/
Been buying these of late, price is going up.
Here's another one for gold and silver that has some different dealers.
http://www.goldprice.com/
Shark:
How anyone can use the links above and still get ass raped by APMEX is beyond me. The fucktards must enjoy paying out the ass for their silver, that's all I can think of.
I tend to use a LCS and Gainesville Coin for my PM purchases.
A cool Halloween treat for silver stackers ...
http://www.gainesvillecoins.com/products/170809/headless-horseman-2-oz-u...
Sometimes APMEX is the cheapest.
Specifically, in the last 6 months or so, they have not only been the first AD to Pre-Sale the US Mint's ATB 5-Ounce Bullion, but they've also been the cheapest (by a significant amount). Plus, they also have free shipping on orders over $100.
However, some of their best offers go out only to customers on their e-mail list (so you have to buy something from them or register to get their special offers)
You have to shop-around.
In the last year, I've bought something from ALL the major dealers; at one time or another they've each had the best deal.
It just depends on what you're looking for, and when you're looking for it...
I've always liked junk... of course .. a lot more rare these days.
I've done business with Tulving from time to time and always been satisfied.
Gainesville too.
You're kidding, right? $4.49 per oz over spot for some funky looking round that when it comes time to sell will go for $1.50 under spot. No thanks.
Your site fails to include Gainsville coins and for that reason it is marketing shit. Gainsville coins is the best hands down price service selection.
Just went to my LCS yesterday. Bought maples for 20. ANd he had a lot of them. Eagles were 22. buffalo rounds and 1 ounce bars were 19. He had a lot of all of them.
Order some from JMbullion as well, premiums were a little high for some things but i was ordering a bunch of random coins. I've been trying to get my kids a coin from each of the world mint that makes them each year, he will have quite a stack by the time he is older, and i always expect to pay a good premium when buying a bunch of single coins.
Haven't ordered from apmex in a long time, and isn't that just premiums for eagles? to each his own, but presonally, I think its fucking retarded how much of a premium peoplw will pay for those things. I have some, but Im not paying 22 each when I can get a buffalo round for 19. SPiking premiums on eagles isn't saying a whole lot.
Exactly.
Always shop around before buying...
[PS: Silver.com selling Silver Rounds for only $17.36: https://comparesilverprices.com/]
Silver Eagles are legal tender. Rounds & bars are not. This in my opinion is a HUGE difference and worth paying the premiums if you're new to the scene and have stacks of paper dollars to unload. The ramifications of owning legal tender silver coins (junk silver too) wont be fully comprehended until the global monetary reset has taken place.
Here's a scenario. We're in a deep depression the likes of which the world has never seen. A guy has a few extra potatoes and is willing to trade them. He's heard of other people trading for silver coins but he knows nothing about them. Given that, what is he more likely to accept? Some generic round, or something stamped USA with the presidential seal?
Well worth the premium, if this is how you expect things to go.
Yes, but it doesn't even have to get that bad to reap some benefits of legal tender coin. How about paying for a new car in Silver coins based off the face value of the Silver coin? A dealership owner might agree to sell you a new car for $100 Silver Eagle dollars after the reset. Legal tender dollar amount of coin can be agreed upon by two willing parties regardless of the price. Or perhaps banks start putting up "we buy silver / gold" signs in their windows after the reset. I know it sounds far fetched but considering a new domestic or global currency might be issued, what seems unlikely now may not be in the not to distant future. Those same banks I can see paying a lot more for government issued coin vs some generic round or bar they can't easily tell how pure or genuine they are.
I completely agree with you about legal tneder, and yes, eagles are far more recognizable that, say, a buffalo round. I do buy some eagles, but at times like there when the premiums spike, it is, in my opinion, a waste of money to pay another 15-20 % for them. Earlier this year, SDbullion was doing a sale on eagles for a short time, and I ordered a couple tubes of them for about 18.50 each, delivered. Those two tubes were the only eagles I bought all year. I also try to buy some from each of the major government mints each year. You guys are right about a mad max scenario, AGEs would def be preferable. THats one of the reasons I have some of them. But Im buying because I don't trust putting my money anywhere else. I don't think the mad max thing is neccessarily the most likely scenario either. More likely, IMO, is a long, steady decline/depression, where everyone just gets used to lower and lower standards of living, and everything you actually need costs more. Basically, we become another japan.
As an aside, I actually buy the pandas and libertads first, since they don't make near as many, and they tend to get sold out and have higher premiums towards the end of the year. The premiums on some of these things only a couple years old is crazy, same with those somolian african lion coins. All three are great looking too. Im interested to see if the permiums on the chinese old coins go up as well. They didn't mark their weight or gold content on them, which is unusual, and i guess a good many people complained about it. My LCS owner seems to think that later on those may carry more numismatic value since they are unique in that regard. He told me about that so I bought some instead of eagles. He said they were the same price right now, and he would always have eagles in stock, but didn't think the chinese gold would last as long, and he was right. He hasn't had anymore of that stuff in a couple months, but he ALWAYS has gold eagles in every size they make. I mainly care about the gold/silver content, but if things don't go to shit, and those things can be sold for a hefty premium that would allow me to get more gold, can't hurt to buy a little
I agree.
That's why I only buy bullion from the major government mints.
But, if I'm going to pay the higher premiums for US Mint Bullion, I might as well get Numismatic appreciation as well.
That's why the America the Beautiful 5-Ouncers are a no-brainer...
You would trade a silver eagle for a few extra potatoes ?
Wow.
Depends on your situation. Those potatoes might just get you a car at that point. The guy with the car (& title, duh) may not know what silver is worth but those potatoes will fill his kids bellies for a couple days. Difference is the silver will store for a loooong time. Barter is beautiful. So is real money.
Stamped USA with the presidential seal and Obozzo's face in the other side?
yeah they're legal tender. but who gives a shit? i buy kruggerands because its a government issued coin WITHOUT legal tender. because if shit hits the fan, even though spot gold might be worth $3,500, a "legal tender" 1 oz. golden eagle still is legal tender for $100. not $3,500
You can say that again!
Your right, who knows what "legal tender" will mean after a major financial global reset.
If you like Eagles then pay the premium and buy.
Just as good will be recognized 100ozs bars J&M or RCM.
If your making a big puchase, who wants to count 1000 Eagles?
Botom line... PM's will be the safest Money around.
"If your making a big puchase, who wants to count 1000 Eagles?"
Ain't nothing to it, all you have to do is count to two - two sealed boxes of ASE's.
yeah they're legal tender. but who gives a shit? i buy kruggerands because its a government issued coin WITHOUT legal tender. because if shit hits the fan, even though spot gold might be worth $3,500, a "legal tender" 1 oz. golden eagle still is legal tender for $100. not $3,500
correction: $50 not $100
You could say that again!
correction: $50 not $100
These held their value really well:
http://www.providentmetals.com/2014-1-oz-silver-australian-year-of-the-h...
I think were $25 when issued...
Indeed, the Lunar Series has done exceedingly well (especially the Series-1 Dragon: currently going for $104.99).
Want an even faster appreciation?
APMEX pre-sale'd these on September 15th for only $87.50 each:
http://www.apmex.com/product/87610/2015-5-oz-silver-atb-bombay-hook-national-wildlife-refuge-de
Now they're $122.35
40% appreciation in less than 3 weeks;... not too bad...
I've accumulated a minimum of 5 each of these hocky pucks in the bullion grade since the very first ones -- and those first ones were really tough to get. They make an impressive pile of silver. A decent way to buy U. S. Mint products for little more premium than Eagles. Fun stuff if you have the discretionary income to splurge on something cool.
Currently $122 at Aydiin even with Paypal and free shipping:
http://www.aydincoins.com/buy-silver/america-the-beautiful-coins-silver-...
Rocky,
The way I look at it, you pay about the same premium ($3 - $5 per ounce over spot) for both ASE's and ATB's.
Would you rather have 5 of the 44 MILLION ASE's the US Mint will strike this year?
Or,
Would you rather have 1 of the 30 to 45 THOUSAND ATB's the US Mint will strike this year?
https://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion
You're basically paying Bullion prices for Numismatic Coins.
One is a collectible; the other is a commodity...
[Not to mention, those 5-ounce Pucks are just plain COOOOL!!!]
That 25 cent face value is a bit of a downer...
Agreed. Premiums on silver bullion are up in Europe too, but only in the 25% - 40% span.
https://www.libertysilver.ee/en/
In Germany, the cheapest coins available right now are the new Australian Kangaroos. I picked up a tube and have to admit, it´s a great looking coin. Rounds and bars have a hefty 19% sales tax ON TOP of the premiums. I only buy bars and rounds when I´m in the states as a result. Gold in all forms here is tax free...but who knows when that will change. www.gold.de is a german price comparison site showing prices in €.
because noone has any money to buy them over there. in 15 years the US will be in same boat....
because noone has any money to buy them over there. in 15 years the US will be in same boat....
Where outside the US? Canada is no cheaper and Mexico is even more expensive than the US. Europe charges VAT on silver.
When you're only buying a few coins here and there, a few dollars of premium is nothing to me, I'm not going to sweat it. There are other reasons besides premium to consider, such as in stock, shipping speed, customer service, reputation, company viability, quality, etc...
APMEX = Ass rape for your PM's
Your ass rape is Fiat joo by bucks dick head.
yeah apmex prices arent that bad. not everyone has their "coinguy" down the street they could turn too. and if they do hes out of stock.
yeah apmex prices arent that bad. not everyone has their "coinguy" down the street they could turn too. and if they do hes out of stock.
Texmetals.com
Good prices and a good company.
Oh, there in Texas if you haven't figured it out.
Exactly. This is all bs. My local coin shop sells silver for 4% over spot, like they always have.
This recent volatility is why a system that gets more aggressive as the price drops is so important. If you are dollar cost averaging into an asset you feel is a good long term acquisition, psychologically a rapid drop can cause scars that can grind your acquisition to a halt due to natural human fear. On the other hand a system that tempers purchases as prices rises just when greed is trying to persuade you to buy more is also helpful.
Using a system like this will allow you to be more mentally prepared when prices drop, conservative when prices rise, and in a volatile market buy more metal at a lower price.
Anyone on this site for PM's should know that gold and silver are a certain win based upon 100% failure of all fiat currencies. The dramatic knocks get easier to take, and acquire thanks to books like Gold Wars by Ferdinand Lipps
ASE premiums are likely headed down a bit this week actually...thankfully.
US Mint just bumped allocations up 43% to 1.075 million this week
http://www.silverdoctors.com/us-mint-increases-silver-eagle-allocation-4...
lol That will last about half a day.
Australia sold 3.5 million Kangaroos in one day
atest developments in the global precious metals markets where we see the Perth Mint selling 3.5 million of its one ounce Silver Kangaroo coins in one day.
Very true. Look for things to get interesting come mid December. We fully expect the Mint to shut things down and call it a year as soon as they hit 45M ASEs for 2015...pat themselves on the back and throw themselves a few cocktail parties...and head to the Bahamas for 6 weeks until the 2016 coins are released
And I just made plans to sell my full size silver horse.
They are a handsome coin. And priced right.
http://www.silver.com/2016-1-oz-silver-australian-kangaroos-bu/
Well one side is. If they would take that old Hag off the other side :7)
Funny, I thought it was a lizard.
dude, I agree 100% about that old hag. The brittanias I have look chromed, and those 2016 aussies are great looking too, but I hatehaving that old hag on the other side of all those great looking coins. I try to buy some from all the mints, and I swear between the brits, canadians and aussie I have, a third of my stack has her on it.
http://en.wikipedia.org/wiki/Propaganda_in_the_United_States
Not to worry, the Fed will drop a billion or two worth of silver some night at 3 am.
That will fix the premiums.
Oh? Where will they get the silver?
They'll conjure it out of thin air just like everything else.
Children of a 'greater' God.
Oh? Where will they get the silver?
You must be new here if you think the FED needs actual silver to sell silver...
If they want to shrink the premium they need physical to deliver. They can only widen it by selling paper.
Why would the FED want to shrink the premiums on silver?
True. I don't think they give a shit.
Paper...what else would they use?
Why would anybody buy a coin if he can buy a bar (spot)?
And just where earth do you think you can buy any kind of silver bar at spot?
US mint coins are legal tender.
Depending on where you live, so is Jack Daniels.
Bing-fuckin-O!!!
Yep, and it says they are worth a whole dollar! I guess that's why so many people like them.
I have thought about this for some time. When things head south will it really matter if it is legal tender or that it's 0.9999 silver? I am betting on both, although I'll admit I do not own a lot of US coins, mostly Canadian. I'm willing to bet the 100 oz. bars will be fungible as legal tender in the sense that the silver value is the interchangeable piece.
Just my opinion.
Sure as heck it will matter.....if .... when cash is banned, legal tender ASE's will have to be turned in.
Or melted down, at which point you have a product no better than a bar.
Who said that? The same government that counterfeits paper money every day? So what are they saying? Silver of any other form is illegal tender? Think about it. Sure they'll give you five paper dollars for a silver coin stamped five dollars that's really worth five times as much. Sure is a safe bet for them. Legal tender. Big fucking deal.
Because those that don't trust the govt. want govt. issued coins.
Its not that we trust the government, its that gov coins hold much better premiums if the need to sell arises during a panic.
In a collapse will coins hold their premiums if someone starts melting down their bars and makes coins? I see no other reason to stack physical except for an eventual collapse.
For current times is it worth it for the Australians and Canadians to hold coins over bars to exchange into their funny money?
The premiums to buy an ASE are pretty damn high, right now Apmex shows for as low as $4.59 over spot. Currently Apmex shows they buy a 1oz ASE for $17.88 and sells for $20.57, which is a $2.69 difference. 1oz Apmex round they buy for $16.08 and sell for $17.47, a difference of $1.39, same as their generic secondary 1oz bars. If you hold 10,000 oz that's a big difference for something that could eventually be counterfeited. If Alibaba sells fakes I am sure someone in the States can do the same if the govt. was to go away.
Hard to fake silver and still have a profit margin. Not saying it can't be done, but difficult. What metal is cheaper than silver but has the same density?
There are very easy tests to authenticate silver.
lead
molybdenum
Silver is easy to test.
It's all in people's heads. 1 oz of pure gold or silver is just that. I could care less about the embossed wrapper. Because if you paid 20% more for one pile of equal weight than another 'brand x' of equally pure metal, as far as i'm concerned, you got taken by the marketing people. An assay test is cheap: last one I did cost only $35.00. No big deal if you are selling a couple thousand dollars worth of metal.
I remember some time back watching a youtube video of Zimbabweans panning for gold. A few grains were being swapped for bread. As we continue down the path of the great contraction physical paper will enjoy its moment in the sun in as much as so much of the money in circulation is virtual. Virtual money will disappear in a nano second the moment all trust evaporates and electronic transfers freeze. Shortly after that actual paper will have its moment. As the contraction continues gold and silver will crowd out the paper,
If you walked into a farmer’s market the day after which do you think he would be willing to swap you a milk cow for, a foreign coin or a silver eagle? Nostalgia will have a value in the post apocalypse.
depends on the farmer. if it were me, only thing i'd care about would be to maximize the grams of silver i got. i could care less if the silver had stamped on it the logos of the fascistic corrupt government of the usa or their "official" mint. silver is silver.
If silver is the money of gentlemen I will not be taking silver bars for everyday purchases. Think about how you would use this silver if you needed too.
Why would I want a coin with the government's name on it? They'll claim it.
Not quite. Even 100 Oz AG bars go for ~ 10% above spot.
Notice that it is the SPREAD that is widening, and that the dealers still pay very little above spot when you sell to them.
Nice business model: the middle-men make the money. Buy/sell accordingly.
incorrect, unless you want to over-pay.
100oz ag bars for 4.5% premium above spot (provident metals and silver.com):
https://comparesilverprices.com/
if you buy a 1000 oz bar from apmex, you get it for .49 cents over spot, or about 3.2% premium
Because an ASE has more perceived value and is more recognizable? I buy a lot of generic bars and rounds. I do love junk silver but the premiums have priced me out of those for now.
Strange, in europe not so much premium on silver coins
https://www.thesilverhouse.be/zilver-kopen/53/philharmoniker-monsterbox/
ebay...10%
The headline is a crock. I bought silver Maples online this morning at 14% over spot while my local coin shop was offering ~8% over spot to buy them,
What do you expect? 3 straight long green candles & THE HYPE is turned up to full volume.
Just had to look at one more thing from my posts above. Suddenly Apmex has quite a huge stock of silver to sell. I thought they were hedging with paper, but it looks like they were just holding back inventory?
-dupe-
gainsville coins buck over, dumb article.
Link Please!!!! SInce the U.S. mint sells to dealers at $2.50 over I sure would like to find me some Eagles at $1.50 a coin below that.....
http://www.gainesvillecoins.com/products/168995/2015-american-silver-eag...
As low as $4.89 over spot for a single coin. $1 must be the troll premium.
First off, why would anyone pay a high premium for their silver? You can get rounds and bars for a lot less than your alarming generic headline for 50% silver premiums. Same goes for gold.
I can still get 1000 ounce bars for 20 cents over spot plus commission but no one buys those. Even the rounds we have are pretty dang cheap ($3 to $4 less than the American Silver Eagles).
But if you ask me, I think we fall one more time in silver. The effects of the credit contraction haven't been fuly met and the Fed didn't raise rates showing that they are concerned about deflation, not inflation. Bernanke also just said that they need to get inflation going.
The problem is, with all the QE they have thrown at the economy it has done nothing to increase Money Velocity and they are just pushing on a string. More QE should be forthcoming.
Meanwhile, commodities will collapse one last time to where you will see me finally write my "all in" article. I write my Current Thoughts 5 days a week here: http://buygoldandsilversafely.com/category/current-thoughts/
So I'm down voted because I'm right. Fits the mentality of the ones who down vote. Dare they debate the issues? Or is "credit contraction" or "Money Velocity" not in your vocabulary? Or do they believe everything that Peter Schiff, Gerald Celente and John Williams say? Dollar Crash! Hyperinflation!
I just love taking all the negative in the world that Zerohedge gives out, balancing it with the other side that CNBC presents and offering the truth to my readers.
The downvoters are like a democrat trying to win an argument based on more spending for entitlements and a republican more spending for their warmongering. There is no winner there. But shat many gold buyers don't understand is why the dollar has gone up since 2011 despite more debt, more deficits, more promises, QE etc.
Lets have a conversation haters. I'm a big boy. I can handle your disagreements. But you better bring more to the table than "Peter Schiff said this or Mike Maloney said that."
Meanwhile, I'll take some more down votes please;April Call To Wait And Buy Gold Below $1,000 Still In Effect http://seekingalpha.com/article/3344695-april-call-to-wait-and-buy-gold-...
Disclosure: I sell gold for a living.
Doug there are a lot of cowards and idiots here.
MOST Down arrowers fall into two categories 1) They don't like you posting the truth and they junk you
2)Tthey are ignorant of the truth and bash what they do not understand. Very few will down arrow, and tell you why you are wrong.
Thanks Tongue, I don't get here that often and thought I wrote something that helped people as far as pricing goes, but I saw 0 up and 5 down and had to address it. Cheers!
Take no notice of votes. if you want to help people post your views. It's up to them whether they want to hear.
Almost all my silver is very high premium Chinese numis coins so I'm not impacted by these tiny premiums being bitched about.
Up. It's likely that no discussion is really possible in a 100% manipulated "market". Maybe a lot of people are inwardly pissed about this and don't realize how conflicted and frustrated they are. Doesn't hurt to make an honest attempt however. Thanks.
I downvoted you because your second post sounds smug. I'm allergic to smug.
It's ok skinwalker, I've earned smug. And I have the lowest prices. Not sure what else you want from me. Perhaps I could be more like Peter Schiff and wrong all the time. Then I could get up votes?
Dollar going to crash! Inflation is everywhere!
In the real world the dollar can't crash unless by default the Euro and Yen skyrocket. That's what Peter doesn't get and is part of the "illusion."
Gold will eventually rise in all currencies but the "perception" is that the dollar overall is a safehaven. Treasuries too. Gold not just yet. Is that non-smug enough for you? :-)
I won't bother voting on you one way or another. I think you're off with your $1000 call on gold becasue gold has been manipulated down hard over the last 4 years and the Asians are such strong physical buyers. The only thing you've got going for your argument is that the price mirrors the action in 08 but this time around I think gold will be perceived as a safe haven big time and will suffer very little since it has already taken a beating. Nobody know the future though so either of us may be wrong.
Silver is another story and is in a mania rght now which is interesting to watch. Due to industrial demand and investment unpredictability I wouldn't even care to make a guess where it will be a year from now let alone in 5.
Latitude, good reply. No one knows. But I wouldn't call it manipulated down because gold and the dollar still do have a pretty good inverse correlation. I do agree that unlike 08 that this time around it will be different too, but we have to experience some of that 08 downturn we had in gold and most every other asset first a bit longer based on my research. You won't see gold turn back up until we get a kick up in money velocity. Asians have been buying less of late too.
If I could correlate it to 2009 for you I would say we're equivalent to where the DOW was when it was 8500. Yes, it fell to 7400 and those who were lucky enough to catch the bottom made more. Neither complained when the DOW was at 18,000. The only caveat will be that as the price of silver falls, if I am correct, the premiums will rise and it is almost a wash except for the rounds/bars which should keep their lower premiums to spot.
Lastly I see the dollar and metals rising together for a bit. I think for a time the whole world will be pursuing both (perceived and real) wealth.
"But I wouldn't call it manipulated down "
Looks like you need an education:
http://www.zerohedge.com/news/2015-07-04/why-did-citigroups-precious-met...
and of course there's always OVERWHELMING evidence from GATA.
Particularly:
-- Was the Banque de France's director of market operations, Alexandre Gautier, telling the truth when he told the London Bullion Market Association meeting in Rome in September 2013 that the bank is secretly trading gold for its own account and the accounts of other central banks "nearly on a daily basis"? (See: http://www.gata.org/node/13373.)
-- Is the Bank for International Settlements telling the truth when it maintains in its annual report that it does the same sort of secret trading on behalf of its member central banks, trading not only gold itself but also gold futures, options, and other derivatives? (See:http://www.gata.org/node/12717.)
-- Is the BIS sincere when it advertises that it undertakes secret interventions in the gold market for its members? (Seehttp://www.gata.org/node/11012.)
-- Was CME Group, which operates the major futures exchanges in the United States, telling the truth last year when it told the U.S. Commodity Futures Trading Commission that it is offering volume trading discounts to central banks for secretly trading all contracts on its exchanges? (See http://www.gata.org/node/14385.)
-- Was CME Group telling the truth last year when it told the U.S. Securities and Exchange commission that its customers include governments and central banks? (See http://www.gata.org/node/14411.)
-- If central banks are indeed doing so much secret trading in the gold market and other markets, what are their objectives and might this secret trading be intended to manipulate markets, support government currencies and bonds, and deceive and cheat investors who think that markets are free trading?
There is a lot more documentation suggesting as much here:
http://www.gata.org/node/14839
And regarding Asian buying you're way off unless you count a Chinese holiday
http://gata.org/node/15796
Also I highly recommend not even mentioning that you've struck a compromise with MSNBC. It really kills your credibility.
"So I'm down voted because I'm right."
No, I think you were downvoted for spamming us with a link to your sales site. I see you do it again just a few posts down. Bad form most places dude but I am not the ZH popo.
So I see you have something against capitalism 83. Perhaps I should go back to my hole and now allow those that want to buy lower the opportunity to do so. And if you read what I wrote, I said NOT to buy right now. I also see the ad for my book on the right of zerohedge articles I read. I better not mention it though. Zerohedge might make some money from a click on it.
LMAO Doggie your BEST price on Eagles is $21.21 thats $5.21 over spot.....my my you are certainly saving us all from high premiums! Apmex is cheaper.
1 oz Silver American Eagle BU (Random Year) As low as $4.89 per coin over spot! With 1 oz of pure U.S. Silver and a beautiful patriotic design, the Silver American Eagle has become the most popular bullion coin in the United States. Read More (293 reviews) The DOC is even cheaper. Pricing OptionsDELAYED SHIPMENT
IRA Approved Quantity Price Over Spot Price 1-19 $4.79 $20.80 20-99 $4.59 $20.60 100-499 $4.49 $20.50 500-1499 $4.39 $20.40 1500+ $4.35 $20.36
Kansas, perahps you have a problem reading. Where did I say we were cheapest on Eagles? I said why would anyone pay those kind of premiums when they can get the RMC rounds for very little over spot? In fact, the RMC rounds are the same silver as they provide the U.S. Mint with the slabs to put that pretty little Eagle you pay so much over spot for.
If you want to pay over $2,000 more for your 500 ounces of .999 pure silver, then feel free. I would rather buy 100 or more ounces of silver with that money.
And if you want Eagles, buy from the Doc. That's cool. But don't misconstrue what I say.
It's amazing. Americans routinely conflate a shortage of Silver Eagles with a general shortage of physical silver.
A BILLION ounces of the stuff are mined every year. Half get consumed in industrial processes/manufacturing. The rest is hoarded.
Get it into your skulls, people. There's no shortage of the stuff. There are billions of ounces ready to be dishoarded should the price rise significantly once the majority of mines can no longer produce at these prices.
I own silver and I really wish I didn't.
The banksters managed to jam the price ludicrously high in 2011, so hopefully they may manage it again. If they do I'll be selling hand over fist and buying gold (depending on the GSR).
Hey Little Jimmie people have been holding silver as MONEY for 5000 years. The fact it is such a valuable element is one reason why! There is a shortage much greater than the prices imply now. You need to check SRSROCCO and some other OBJECTIVE resources. As you appear to be either uninformed or a TROLL,
Here I'll even help you get started. Check out the buys from India, the demand in the U.S. for Eagles not to mention other silver i.e. rounds, bars, Mapes, Eagles alone comsume more than we produce. Please get clued in
https://srsroccoreport.com/
Gee whizz, if they've been using it for money for 5000 years (actually, it's probably closer to 3000, but whatevs), that means its "real" value MUST be higher than it is at present, right? Despite there being NO demand for it as money at present... or, for that matter, whatever the price is at the moment. So if people have used siler for 3000 years for money, that proves it's "worth" more than $15 an ounce. Somehow.
Ah, the SRSROCCO report. Take this one here:
https://srsroccoreport.com/india-vs-comex-physical-silver-demand-will-de...
Gets all breathless about 1.2 million ounces being taken out. Ignores the other 164 million ounces sitting in their inventories.
Shows imports of silver into India - and the US - are high. Doesn't show how much of that silver is being exported after being processed. So, for instance, India has a lot of jewellery manufacturers. So say an American jewellery company wants to get some jewellery made in India. So the Indian manufacturers may well import the silver from the US - showing up as imports - craft it into jewellery, the export it back to the US, where it may well show up as an import again, despite it being the same silver that was exported. We've just doubled the amount of silver "imported" into these countries, despite the fact the same amount of silver wound up in the same place. The same with smelting and refining.
I've been hearing these "shortages are imminent" stories for the last 8 years, ever since I started taking an interest in the subject and buying PMs. Until I hear industrial users start complaining about premiums over spot it's all just noise from PM boosters.
Believe what you want; it's impossible to untangle all the import/export figures, or even know how much is sitting in people's hoards ready to be dishoarded if the price rises. Every other commodity is dropping in price. Half of silver demand is for its use as a commodity. You do the math, pumpkinhead.
The shortage is in refined product not underground silver. Just like when a oil refinery goes down and gasoline prices skyrocket. Still plenty of oil but scarcity of refined product, in this example gasoline.
Tuco
I'm not talking about unmined ore. I'm talking about above ground metal. Half a billion ounces of this stuff is salted away EVERY YEAR. Production figures have been steadily rising every year. Look it up.
We've been sold a con.
As I said, prices may well rise again. I fucking hope so, I'd like to get my money back. But if they do, it won't be because of some imminent shortage; there isn't one. People have been talking about this for AT LEAST 8 years and it hasn't happened.
This chart shows how soon it may run out for good, certainly within our lifetime and when you compare it to gold and realize what you just said that over half gets used in industrial demand and not hoarded.. Its hard not to see with the amount of uses there are for silver it will probably run out sooner than most other resources. Obviously demand has lots to do with it but with the price dropping and demand through the roof? It could happen for real with in the next 15 yrs. Once price rises more will free up, but less will be coming out of the ground. The ratio in my opinion is way out of whack. Miners Ive heard are reporting around 10 to 1 where as the gold/silver ratio is historically 18 to 1. Current price ratio is 72 to 1 even if gold hits 500, which it wont, silver is a steal right now in my opinion. Most people dont even realize how little zinc or lead is left aprox. 10yrs. Thats probably all industry.
http://www.visualcapitalist.com/forecast-when-well-run-out-of-each-metal... Its certainly not infinite, it is finite and precious. According to this chart there is less silver supply left than gold.
If you look at the net balance row you will see silver has been in deficit for 9 out of the last 10 years which means reserves had to be tapped pretty steadily. https://www.silverinstitute.org/site/supply-demand/
What more do you need?
When you compare it to the trillions of paper dollars in the economy, silver is very rare.
There's absolutely no reason to believe that silver's "value" can be determined by how much of it there is relative to gold, because the price is determined by supply AND demand. Silver has steadily lost ground to gold since it was gradually demonetised worldwide, starting in the 19th c.
Silver has a lot of industrial uses, true, which is why half the supply gets consumed every year. But that still leaves an excess of half a BILLION ounces, EVERY year. And mining supply has been rising, not falling; look up the figures if you don't believe me.
I used to be a believer on this subject but the price doesn't lie. I'm also sure the bankers are manipulating it downward, or at the very inducing volatility to put people off holding it as a safe-haven asset., but people have been crying wolf on this subject so long I've given up holding my breath. At some point you just have to admit you were wrong; silver was not destined to go to $100 as we all thought back in 2011.
As you say, it's a pretty small market, so maybe the price will be jammed higher by the same manipulators who currently jam it downwards. Fortunately, I'm not forced by circumstances to liquidate my holdings and can hang on. Plenty of other people weren't so lucky.
Your Comment: "But that still leaves an excess of half a BILLION ounces, EVERY year."
Thats an inaccurate statement, you contradict my sources above? https://www.silverinstitute.org/site/supply-demand/
The stuff that is hoarded gets sold as the price rises or else people will hold on to it. Its funny how historical indicators have nothing to do with todays market, one of the reason I want nothing to do with these crooks.
If you look at net balance its been in deficit the last nine out of 10 years? That doesnt mean extra? They take the difference out of reserves. They sell every oz they produce and have to dip into reserves? What dont you get. Dont get so discouraged so easy, they are holding the price down but they cant do it forever.
It is estimated it will run out within 15 years +- , Its a long hold and I believe its better that gold. it will be a long time before I get discouraged, as long as the price goes lower, Ill buy more. This market is total B.S. I dont want anything to do with these crooks, This is a great deal in an environment of overpriced assets and huge risks, Im not saying it wont go lower, Im saying eventually it will do well. Your a good sign for me its getting closer, everyone told me I was crazy to buy BAC at 5 but its the cheapest its been?
http://www.gainesvillecoins.com/category/470/silver-bars.aspx?&s=&ssize=... is sold out of 100oz bars. Your going to regret not hanging on to your silver. They can control it till they cant. Ill be waiting till they can't
the Ontario scene. http://www.londongoldbuyer.com/mobile_calculator.htm
Too bad they low ball the buy-back at $17...
5 bucks over spot for a maple. on the ground silver is 25% premiem. have a nice day.
Silver coin suckers.
Was I a sucker for buying silver at $7.50 an ounce? I even feel pretty smart buying my last 1500 ozs at 14.85, 15.23 and 16.19 too....
Here is why gold prices are so low:
http://michaelekelley.com/2015/07/20/dear-fed-plz-raise-gold-price/
http://www.zerohedge.com/news/2015-07-09/are-big-banks-using-derivatives-suppress-bullion-prices/
Soon there will be no silver left to buy on the market.
Sell All Rallies...
Gainesville has some no brand name rounds for sale at a good price. Not as low as the RMC rounds though; http://store.buygoldandsilversafely.com/product/1-oz-silver-rounds-rmc/
RMC makes the rounds that are sent to the U.S. Mint to create the American Eagle coins. They are .999 pure 1 troy ounce fine silver.
Hard sell today, behind on your quota? Congrats, I looked at your spam. I can do 40 cents/oz cheaper in small qty at Provident and they have a known reputation here without spamming us. The way it works is you get a couple extra shill accts and post about what smoking deals you got at (insert spam link here). Then you come in under your real acct and offer thanks and assistance.
Well lets see 83, I own the company, use my real name, and you are wrong about prices with Provident vs. the link I quoted with RMC. Let me put the link in for you ok?
http://store.buygoldandsilversafely.com/product/1-oz-silver-rounds-rmc/ http://www.providentmetals.com/1-oz-buffalo-silver-round.html We do have a higher minimum investment. Sorry.Where did I go to get my metal stash? Yeah to the local jew!
Why is it that it happens to be a jew that sells metals?
Well.. eighter they cheat us on the value or they know its worth owning. No matter what I rather own jewish gold and silver than jewish digital fiat.
I don't they had their hands on mine, well not yet anyway
I don't recall too many stories about German and Polish Jews fleeing the Nazis with 100 ounce silver bars. Given the combination of the recent spike in silver, and the bump in premiums, gold coins look like a better value right now. If you need to flee then you will want at least some gold.
I heard they used 1/10 AGE's as buttons painted black. j'k but who looks at buttons at customs? In the USSA they are more interested in groping your wife and kids at the checkpoint.
I have enough silver anyway. You should have been thinking of that 20 years ago for fuck sakes. I am looking for a place to make a defensive stand. It is no joke becuase who just goes for a 3000 mile drive to check out the territory? I do. I see what is coming at us and I want the best defensive ground possible. Don't worry too much we have silver and much more. The "market" can take it's paper silver futures and shove them up their ass for all I care.
Sell Price: $19.74 Premium: Spot + $3.75 = 19%I only buy kilos and 100 ounce bars.... who needs coins... if u need to change silver for fiat in future you can trade a 100 ounce bar, or saw some off :)
four nines fine should be worth more than three in the future... when it is scarce
Great if you are buying a building and have no need for flexibility.
Tuco
Yep ... and when the SHTF, it won't take many 100 oz bars to buy a building. I'm guessing just two or three will be all it takes to get you a typical house.
the value of silver and gold don't change... only the value of other things ... fiat, houses, land, stocks, bonds, etc... ...
I have 100 one ounce Silver American Eagles for sale for their face value of "one dollar" each!
Oh, by the way, I don't have any "live" in inventory.
If a dealer does not have them live what does it matter what price they are selling at!?
Tuco
The Silver American Eagles are the modern day Silver Dollar from the U.S. Mint and guaranteed by the U. S. Government, which still has "some" credence. They are very liquid as they are the best selling coin in the U. S. and have worldwide recognition.
Buy no name rounds and bars at your own peril. In a crunch quality and recognizability are everything.
I tend to buy generic when spot is high and later when spot price lowers take them to my LCS and pay the differece for ASE's.Might seem foolish to some,but you don't trade with my LCS.
To be honest for me the only proper reason to buy gold or silver is to avoid government oversight of property/asset transfers. The reason why gold and silver is appealing because you essentially are opting out of the financial system. For example, Its far easier to give litte timmy 100k in gold/silvers bars without the government knowning, than the 100k house which will likely be taxed six ways till sunday before probate is complete. In closing, If there is one thing i learnt from my parents is that, in hindsight, SHIT ALWAYS LOOKS CHEAP NOW.
So far as i know the only reliable way to generate a return on gold and silver is to turn it into jewelry.