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 Replies: 34 / Views: 6,937 |
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Pillar of the Community
United States
586 Posts |
Prior to last Thanksgiving, I purchased some Silver Maples for gifting purpose. I remember the spot was about $14.8 and Provident was hosting a special with only $1.99 premium per coin/oz. Since Maple usually commands a premium of $2.79 or more, I thought I got a deal. I talked to myself, "This is equivalent of buying regular priced Maple, at a spot of $14 or less, wow". How wrong was that? Now Silver spot is BELOW $14, and the $1.99 premium special is still around!  Since I am running out of SML, so I took advantage of the special AGAIN and got a few more. And I talked to myself, "This is equivalent of buying regular priced Maple, at a spot of $13 or less, wow". Now you know why we are heading below $13.  |
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Pillar of the Community
United States
1913 Posts |
Provident has silver Britannias for $1.99 over spot. I'm thinking about getting some, but the price of silver will likely go down if I do.
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Valued Member
Canada
495 Posts |
Probably headed for $10 stay tough my man
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Rest in Peace
United States
17900 Posts |
If you think so, why aren't you selling every scrap of silver you own NOW?
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Pillar of the Community
United States
5208 Posts |
Quote:
Probably headed for $10 stay tough my man I have $12 cash for every .999 ounce you got. That's a 20% profit on your end based on your speculation. Money talks. The rest walks. You can see I have the paper to back my talk up. You pay shipping to keep it fair. So you know the 5 watches are worth more than the $5K paper and the 5lbs silver.  |
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Pillar of the Community
United States
4333 Posts |
@jackjeckel - If I were you, I'd keep the cash, sell the barbaric relics -
lol j/k -
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
3343 Posts |
I don't falla.
Last month I was buying cleaned au walkers for $5.50 or 11x face out the door at my local shop, or $15.20 per oz US on 100% basis. Sounds like you got gypped at $1.99 plus $14.80 per oz spot, or $16.79 each for 1 oz Leafs.
But again I don't falla. Maybe my dealer isn't gouging as much? Or maybe you're paying in CDN $?
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
4333 Posts |
The difference is that he's buying .9999 fine, and you're buying junk.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
3343 Posts |
Maple = metal commodity, same as aluminum ingots, rolled steel, and Jack's bars. Dealer premium should be as near zero as possible.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
01/18/2016 08:56 am
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Pillar of the Community
United States
1913 Posts |
Right. Who would want pure silver Maple Leafs when you can have used silver coins that are diluted with 10% copper?
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Pillar of the Community
United States
937 Posts |
Quote:
If you think so, why aren't you selling every scrap of silver you own NOW? I did. I sold every scrape of .999 that I had bought at $10 for $35. I expect silver to be at $12 soon...but I thought it would reach it six months ago, so I wait. |
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Pillar of the Community
United States
3343 Posts |
Here's my local/national guy. Today he's paying $14.44 for leafs in 100 quantity, and paying 10.73x for US halves in $100 quantity. The US halves work out to $14.84 per ounce silver, or $0.44 per ounce more than leafs. http://mjpm.com/silver.cfmSo I conclude two things as a stacker. First, if US halves are junk, leafs are lower quality junk. Second, to your point @bret, if I sold my stacks to this dealer today I would be paid a premium of 44 cents per ounce over a pure silver leaf for the 10% copper content. It's a win win situation. Buy side is a whole different story. Leafs sell for $16.99 in 100 quantity, halves sell for $18.17 per ounce equivalent (13.14x in $100 quantity). So I conclude that the halves are not junk. They carry a greater dealer premium per ounce than leafs. But I also conclude that I should stick with the dealer that sells at 11x ($15.37 per ounce equivalent) and not this guy selling at 13x. That's my situation. Your results may vary according to the dealer you pick. They will gouge you on halves if they're short, and I've seen 0.5x premiums over dimes and quarters. If they're drowning in halves they'll blow them out at 11x. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
01/18/2016 5:04 pm
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Pillar of the Community
United States
7390 Posts |
Nope pm's are goin bananas in 2016. My silver ball sees all  |
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Pillar of the Community
United States
1913 Posts |
It's definitely smart to do whatever works for you in your real market situation. I suppose when you're using the word quality you're speaking of a quality investment, not the physical quality of the product.
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Pillar of the Community
 United States
586 Posts |
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Pillar of the Community
United States
586 Posts |
Last weekly silver futures report, http://news.goldseek.com/COT/1454099561.phpCommercial traders massively increased their short position against silver; at the same time, they massively reduced their long position on gold. Looks like my silver short position will be very profitable, soon. In fact, it already is profitable. |
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Replies: 34 / Views: 6,937 |
Posted 01/16/2016 3:04 pm
