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 Replies: 27 / Views: 4,710 |
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Pillar of the Community
United States
7390 Posts |
Dirt, Thats when the hunt brothers tried to buy every ounce of silver on the planet causing that huge spike to near $100. Needless to say there was quite the melt fest going on back then
Edited by Cascade
07/25/2015 7:03 pm
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Pillar of the Community
United States
4333 Posts |
Quote:
Dirt, Thats when the hunt brothers tried to buy every ounce of silver on the planet causing that huge spike to near $100. Needless to say there was quite the melt fest going on back then I call BS. The spike was no more than $55. I was 17 and I watched it all go up, then down. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Rest in Peace
United States
17900 Posts |
Although silver and gold have always been used as a liquid measure of value in the past, many of the things silver was used for no longer apply today.
What is silver actually USED for? Other than lining your vaults...
Well, you don't need it for photography any longer.
You don't see much silver jewelry, or any jewelry that doesn't involve a spike in a painful place.
And circulating coins are all gone.
So what is silver good for? Is it used for anything?
I decided the best bet on what silver was going to do was to ask the opinion of my ever faithful and wise hound, Toby.
He says that absolutely for sure silver will be at $12.28/oz on August 16th, 2017.
He is ALWAYS right.
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Pillar of the Community
United States
4333 Posts |
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
07/25/2015 7:33 pm
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Pillar of the Community
 United States
586 Posts |
Found this one by google search. The 1st flat region was $2, 2nd flat region was $5; the 3rd one might be around $8-$10.   |
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Pillar of the Community
United States
586 Posts |
The question is, how much was the premium when silver spot was $5 ?
If the premium rises to 50% when spot drops to $10, then it is a wash.
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Pillar of the Community
United States
7390 Posts |
Why would the premium be 50%. Why wouldNT the premium be standard? Say I was going to buy a monster box if it goes to $10, your telling me I couldNT find it for say 15% over spot +/-?
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Pillar of the Community
United States
586 Posts |
@Cascade,
If spot price stays flat for a long time, most likely there won't much retail interest left. Then it is logical for dealers to have a smaller inventory and higher premium. And in the futures market, since the amount of long position could be pathetic due to lack of market interest, then it is very hard for dealers to hedge their inventory. Dealers might need to maintain a higher premium in case of price drop in an illiquid market.
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Pillar of the Community
United States
7390 Posts |
Ya but isn't the price for an ASE monster box and the spot premium associated with it set by mint. Or can the handful of "authorized" dealers just buy them and ask whatever premium they want? Seems like the mint would have a set premium % over spot that their dealers can charge. Like 10% or whatever |
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Pillar of the Community
United States
586 Posts |
@Cascade After the recent smackdown of silver spot price, many dealers already increased the premium for silver coins, including ASE. So, I am not sure about where this 10% rule comes from. |
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Pillar of the Community
United States
808 Posts |
I don't think the US Mint has ever attempted to control the premiums charged by direct purchase dealers. And there's certainly no control for premiums charged in the secondary market. Premiums are pretty much determined by what the market will tolerate.
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Pillar of the Community
United States
7390 Posts |
TheN why can't Joe blow order a monster box direct from the mint and pay the set mint premium?
The 10% was only a generic number leon
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Pillar of the Community
United States
586 Posts |
@Cascade, If you order ASE directly through the mint, the premium might be much higher. I tried and found out it was actually cheaper to order from dealers. I guess US mint doesn't have enough personnel to process small orders; so that they prefer to run wholesale with authorized dealers. After all, US mint is neither a online dealer, nor your local coin shop. |
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Pillar of the Community
United States
808 Posts |
Remember that the ASE coins sold through the US Mint web site are specifically made for the collector market: each comes boxed with COA and has the "W" mint mark. The bulk ASE bullion coins sold through the secondary market aren't struck with the same dies as the collector versions and do not have any mint mark. They are not the same coin and rightly command different premiums. |
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Valued Member
57 Posts |
Back to the charts.
Those of you that are younger will soon have a great
opportunity. We are in the final 5 waves down in the
correction. No hurry though, this has a ways to go.
If it doesn't go real low it will go long, we'll see.
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Replies: 27 / Views: 4,710 |
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Posted 07/25/2015 7:10 pm
