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 Replies: 75 / Views: 7,035 |
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Pillar of the Community
United States
3670 Posts |
you can get a nice NTR 10 oz. silver bar from Provident right now for about 298 bucks, plus about 9 more for shipping, which is not too bad a deal IMO....
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Pillar of the Community
United States
4008 Posts |
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Give the man a seegar! Thanks, Barry. Make mine an El Clintonio Grande!  Quote:
If it drops below $27, I might buy some anyway if I can stay below the $5000 limit. And then I'll tell her it dropped down to $5000 for a microsecond and my timing was really, really good... Sounds like one of those last-second ebay snipe jobs.  Quote:
Depending on what your goals are, any time and any price could be a good time to buy. Indeed so. Just about any time I can unload paper with ink on it for something of REAL value is a pretty good deal. Of course, some deals are better than others.  Quote:
I suppose the most fee-less way would be paper silver. Indeed it would... unless you actually try for physical delivery ala former MF Global customers and get stiffed, er... robbed.  Quote:
you can get a nice NTR 10 oz. silver bar from Provident right now for about 298 bucks, plus about 9 more for shipping, which is not too bad a deal IMO.... No, that's not a bad deal at all. It wasn't all that long ago that 10-oz. silver bars were selling for around $400 each. |
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Pillar of the Community
United States
2168 Posts |
Yes a dip has occurred and the time for physical silver not paper. I agree with Ed. Even those at MFGlobal with receipts for actual silver are being told 72 cents on a dollar and supposedly the silver is there! It is to Equalize! The losses. Wonder how that will play out
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Pillar of the Community
United States
1934 Posts |
I was fortunate....unloaded about 15 lbs in coins when it was 48.50.
Do I regret a mass sell-off of silver halves and quarters?
No.
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Pillar of the Community
United States
5861 Posts |
Still pondering here... Since I'm really not looking to buy "junk" silver, I suppose I don't really need to wait until the market totally bottoms out before purchasing, simply because the stuff I'm looking to buy carries a premium that is apparently not tied directly into the spot price. As I mentioned before, the price at APMEX for a $100 bag of AU Morgan dollars has been fluctuating along with the spot price, whereas the price of a $100 bag of BU Morgans hasn't. Right when silver prices started to drop, in fact, the price of the BU bag actually went up $200-300. I've noticed, however, that as silver prices have stayed low the last few days the price of the $100 bag of BU Morgans has come back down a bit to where it was before the drop in silver prices. It's still not a low as I would like, but $4400 (or $44/coin) is at least better than $4800 ($48/coin). The bad news is that, even if silver drops again, the price probably won't get much lower. The good news, though, is that the price will hopefully remain stable even if silver continues to climb a bit the way it is doing today. As an investment, buying BU Morgans probably isn't the best way to go. But the thought of owning a bag of 100 of them...  |
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Pillar of the Community
1283 Posts |
That is way to high for the bag of Morgans IMO. I would rather buy the 135 ASE's for the same price. Not that Morgans aren't my favorite coins because they are, but from experience you can get them individually in BU for cheaper. Many of my hole fillers in my morgan album which are all BU to MS were under $44 each. That being said it would be way cool to buy for of those 1000 count bank sealed bags. |
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Pillar of the Community
United States
5861 Posts |
Well, I could get a $100 bag of BU Peace dollars (or BU 1921 Morgan dollars) for around $3800-3900, but they just don't have quite the same mystique... |
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Pillar of the Community
United States
3670 Posts |
If your gonna spend five grand on silver Barry G, why do you need 90% instead .9999? I figure if you get 100 bag of either, even at 4400, that is 4400 dollars for what, like 75 oz. of pure silver? Like TBK said.... Why not get 135 Eagles, as that is 135 oz. of silver instead of roughly 75? I know the Morgans are numismatic, and may have key date here or there, and history and all, but raw numbers tell me that 60 more oz. of silver is always the way to go, esp with prices where they are at the time. It is not like ASE's are not highly sought after, and will not always bring a solid premium over spot..... |
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Pillar of the Community
United States
5861 Posts |
To be honest, I'm just not interested in buying bullion. I do own some SAEs (including five of the 25th Anniversary sets), just because I think they look nice. But, aside from the rare varieties like the reverse proofs, they are really just pure bullion no different from a silver bar -- from what I've seen, they really don't "always bring a solid premium over spot" or else you wouldn't be able to buy them at just over spot right now. Besides, I really am a coin collector first and foremost and, while it's nice to own silver coins, I really don't have a desire to just own a bunch of silver (no matter how pretty it may be). Now, if I really wanted to get the most bang for my buck, I suppose I could buy a bag or two of really bad grade ("cull") 90% silver coins at a small premium over spot. But those don't give me much joy, either. And, just like the SAEs, they are not likely to hold any of their value if silver prices drop. BU Morgans, however, will always be worth a significant premium over spot. Probably not enough to justify paying $44 apiece for them, but then there's the drool factor... The bottom line is that I would really love to have a bag of BU Morgan dollars, and the drop in silver prices is just a way to justify (to myself and to my wife) my purchase. I wish the prices were cheaper, but if silver prices head back up the way everybody seems to predict, the prices will just get higher later. |
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Pillar of the Community
United States
5861 Posts |
FWIW, nusmismedia.com right now is listing common Morgan dollars in MS61 at $48. I don't know how accurate that number is (or whether it was set when silver was at $40/ounce), so I don't think $4450 for a bag of 100 is that far off the mark. Supposedly, their BU coins grade at anywhere from MS-60 to MS-63. Again, I don't know if that is accurate or just hyperbole. |
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Pillar of the Community
United States
5861 Posts |
Aaaaaaaand... I just bought some silver! I thought about it and thought about and thought about it, and in the end I decided to go with the $100 bag of BU Peace dollars instead of the BU Morgan dollars. The price was significantly lower ($3689 as opposed to $4450) and I really don't have many Peace dollars in my silver hoard. No chance of finding any rare mint marks or dates, but I doubt I would have found any with the Morgans, either, since I'm sure they cherry pick anything special before assembling the bags. Since I saved so much money buying the Peace dollars instead of the Morgan dollars, I decided to add a BU 1921 Peace dollar and a BU 1878-CC Morgan dollar into my shopping cart. I haven't been able to justify buying either of those previously, but since it's all part of a bullion purchase...  And yes, I will post pics when they arrive! |
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Pillar of the Community
United States
667 Posts |
The one thing I notice is this group flows with the wind pretty fast. Not many leaders though maybe you all know things I do not know. We have some VERY NORMAL price flux and every one is ready to run the other way.
So we get the charts out and then start to read and then we all flow with the tide.
Then comes me and I still state it is a good time to buy. And I did buy on the day I said it was a good day to buy. Every day is a good day to buy. I see no long term trends or information that tells me silver is going to be a depressed PM for the in the near future.
But even I don't profess to say I know what the next day holds, heck I didn't even know what the next day held when this stuff was going to the top of the charts.
Silver at this price range in today terms I feel is still a good buy. Buying some at each price level is a smart decision. You may be able to beat the market but few really do.
I will call the current price a mid range if it makes you feel better. I feel this is a safe range to buy. If it drops you are still ok and if it goes up then your not too late.
We all hope it never goes below $20 and then sits there for the next 20 years but it could. But it could just as easy climb back to $40 and never drop any lower than what past few days.
Top me I am purely a speculator trying to make a long term profit while having what I feel is a better security in PM than dollars. As a speculator I am willing to take risk, if you are not then get out of the market. If your a flipper prepare to have the market win. But then again you stand to make the biggest gain.
Buying silver and not looking back at this point in time. After all I have a lot of money to spend after exchanging a lot of high prices silver for dollars this year. Funny how the ounces are adding up to more than I had and I never spent any more money to do so this year.
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Pillar of the Community
United States
2168 Posts |
I have never sold any PM but I guess it presents a capital gain or loss on income tax and I wonder what is used to back it up? What if found in rolls or kept from the sixties?
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Valued Member
United States
264 Posts |
Purchased 4x 5oz Fiji Taku last Friday night at what appears to be the low of the silver trade so far.  I'll say it again, great discussion on these forums! |
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Pillar of the Community
United States
3670 Posts |
Barry G your points are all valid and do much make sense. In the end, one being happy and believing is the main thing with what ever they put their money in, and hope for the best there after.... I think you made a great move, as I feel Peace dollars are under appreciated and a great design, and that is about 75 oz. of silver in one haul, nicely done, for a MUCH BETTER PRICE. Whether it is 75 oz. or 135, your happy with it and again that is the key thing, and if some of those Peace dollars turn out to be a good subject for grading, who knows you may make out better..... It is no different if I decided to put together a Lunar set of 12 1 oz. coins. I could get 24 oz. of much lesser silver for that high premium price to get just 12 oz., but the quality and sought after demand of the Perth Mint stuff, makes me think not one is any better or worse then the other, the ol to each their own eh.... I am thinking seriously about focusing hard on silver BRITANNIA items coming up after passing 100 oz., as they are just fantastic, and always increasing in demand and value it seems.... And I love those sea turtle rounds.... Edited by Silverhawk74
12/20/2011 3:20 pm
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Replies: 75 / Views: 7,035 |
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Posted 12/19/2011 7:01 pm
