UnderGround Forums
 

SurvivalGround >> Price of Silver.


12/28/11 11:08 AM
Ignore | Quote | Vote Down | Vote Up
EasyTapper
37 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 12/2/05
Posts: 7271
Can someone give me a brief explanation as to 90% coins vs. .999 coins vs. bars/ingots??

Financially limited, starting to dip my foot into Kennedy halves on EBay 5-10 at a time. But don't want to make the wrong decision.

Also if silver is $29, why are American eagles selling for $42-45 on EBay?

Finally is EBay a good choice for coins? (5% sales tax in my state if I buy locally) mail order out of state better? Phone Post
12/28/11 1:44 PM
Ignore | Quote | Vote Down | Vote Up
Kamikaze Emu
24 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 6/9/10
Posts: 753
I'd like to know a bit about this as well. Looking at eBay everything seems very over priced.
12/28/11 2:42 PM
Ignore | Quote | Vote Down | Vote Up
qcddog03
27 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 11/30/06
Posts: 503
#ThatsWhatHoesDo, Owner
Ebay is over priced. Go to your lcs and tell them you want "junk" silver (90%). Make sure you pay under spot. Also you can go to the bank and pick up a box of halves for 500$ sort threw them for the silver ones. 64 and under is 90% and 65-68 have silver too but can't remember how much. You can do the same with quarters and dimes. Pennies before 82 are 95% copper I think so that is an option too Phone Post
12/28/11 3:04 PM
Ignore | Quote | Vote Down | Vote Up
EasyTapper
37 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 12/2/05
Posts: 7276
qcddog03 - Ebay is over priced. Go to your lcs and tell them you want "junk" silver (90%). Make sure you pay under spot. Also you can go to the bank and pick up a box of halves for 500$ sort threw them for the silver ones. 64 and under is 90% and 65-68 have silver too but can't remember how much. You can do the same with quarters and dimes. Pennies before 82 are 95% copper I think so that is an option too <img src="/images/phone/droid.png" alt="Phone Post" border="0" style="vertical-align:middle;"/>



Ebay may be overprices, not sure about that. Generally (especially with Ebay), the market sets the price though. But in this day and age, I doubt you'll find many LCS that will sell silver for spot, let alone below. Yes you can search rolls for silver, but that's a lot of work with little return.
12/28/11 3:57 PM
Ignore | Quote | Vote Down | Vote Up
qcddog03
27 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 11/30/06
Posts: 504
#ThatsWhatHoesDo, Owner
My lcs has a massive premium on ase and the like but sells most junk right at or a little under spot. Guess it all depends on the coin shop. I've hit big at some flea markets and gun shows before too. Phone Post
12/28/11 4:10 PM
Ignore | Quote | Vote Down | Vote Up
EasyTapper
37 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 12/2/05
Posts: 7277
qcddog03 - My lcs has a massive premium on ase and the like but sells most junk right at or a little under spot. Guess it all depends on the coin shop. I've hit big at some flea markets and gun shows before too. Phone Post
Thanks for the tip. I'll start looking locally as well. Phone Post
12/28/11 5:34 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11508
EasyTapper - Can someone give me a brief explanation as to 90% coins vs. .999 coins vs. bars/ingots??<br><br>

Financially limited, starting to dip my foot into Kennedy halves on EBay 5-10 at a time. But don't want to make the wrong decision.

<br><br>Also if silver is $29, why are American eagles selling for $42-45 on EBay?

<br><br>Finally is EBay a good choice for coins? (5% sales tax in my state if I buy locally) mail order out of state better?

Silver is silver is silver.

Sounds redundant, but think about it. 1 oz of silver in 90% coins, .999 rounds ( not "coins ), and bars should all cost the same. They dont. Rounds are always more over spot than bars or junk in the same quantity. Why? Because suckers pay it.

For junk ( 90% silver old currency ) use coinflation.com to determine current value of all pre-1965 coins.

Bars are just that, but small bars are actually harder to mint, so there is a bit of an upcharge for one oz bars. Stick with 10oz and above.

12/28/11 5:36 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11509
Ebay is a great place to sell, terrible place to buy.

Stick with the big online shops like Apmex, Gainesville Coin, and of course, BullionDirect. If you want to move physical silver without actually touching it, learn to use BD's nucleo exchange. You can also take delivery if you want from the nucleo, but dont do if below 150 ozs. Just not worth the S&H until then.
12/28/11 6:51 PM
Ignore | Quote | Vote Down | Vote Up
holly9000
23 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 2/23/05
Posts: 4297
ttt
12/28/11 6:58 PM
Ignore | Quote | Vote Down | Vote Up
frankenchrist
22 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/4/08
Posts: 1526
check craigslist. ive had some luck there buying coins so far. some guy has a couple of 10oz bars listed for $320 each. i am going to see if he will get down to spot, or damn near it. another guy has peace dollars for $25 a piece, and im trying to get him down to $20-$22.

locally is always the best. people negotiate if they need money, and no shipping fees.
12/28/11 11:00 PM
Ignore | Quote | Vote Down | Vote Up
EasyTapper
37 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 12/2/05
Posts: 7278
I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell. Phone Post
12/29/11 10:45 AM
Ignore | Quote | Vote Down | Vote Up
SirPrize
20 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 10/4/02
Posts: 15314
EasyTapper - I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell. Phone Post


TTT for an answer.

I went the junk route, but it seems that .999 rounds/bars would take up less space. On the other hand, maybe the junk coins would be more well-known by the general public, and, therefore, easier to barter with.
12/29/11 12:10 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11536
EasyTapper - I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell.


Coins sell by face value, at least around me, not by weight. You dont have to try and sell a few here, a few there.

And most silver buyers who are serious dont give a rats ass whether its junk or bars.
12/29/11 12:13 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11537
SirPrize - 
EasyTapper - I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell.


TTT for an answer.

I went the junk route, but it seems that .999 rounds/bars would take up less space. On the other hand, maybe the junk coins would be more well-known by the general public, and, therefore, easier to barter with.


The bartering idea comes up a lot. If society ever gets to that point, you will be one of the 50% or so that survive whatever event gets us to that point. So really, I wonder if that is a paranoid response, or frugal response to the future?

I have $500 face in coins. You can call me a frugal paranoid, I guess.
12/29/11 12:26 PM
Ignore | Quote | Vote Down | Vote Up
Kamikaze Emu
24 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 6/9/10
Posts: 758
MoreThanUFC - 
EasyTapper - I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell.


Coins sell by face value, at least around me, not by weight. You dont have to try and sell a few here, a few there.

And most silver buyers who are serious dont give a rats ass whether its junk or bars.


When you say face value you don't mean you can but a $5 Canadian maple, which is one troy ounce, for $5 do you?
12/29/11 1:55 PM
Ignore | Quote | Vote Down | Vote Up
AG_bull
27 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/22/11
Posts: 385
Kamikaze Emu - 
MoreThanUFC - 
EasyTapper - I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell.


Coins sell by face value, at least around me, not by weight. You dont have to try and sell a few here, a few there.

And most silver buyers who are serious dont give a rats ass whether its junk or bars.


When you say face value you don't mean you can but a $5 Canadian maple, which is one troy ounce, for $5 do you?


^He is referring to junk silver (90%).

Check out and play around with this calculator:
http://www.coinflation.com/coins/silver_coin_calculator.html

1 quarter that is 90% goes for $4.95 so that's approximately 20x face value.

For 99.99% pure coins (Maples/Eagles) they weigh 1 troy oz so that determines their price. Usually spot price of silver + premium of $1-2 for Maples + Eagles but they can sell way over value on ebay.

I posted this on another thread but will put it here also:
my theory is buy a base first (junk silver), something that can easily be traded and recognized.

then move up to 1oz .999 coins (Eagles or Maples) for as cheap as possible over spot. These are easily recognizable so you will be able to off load them quickly if the need should ever come. Everyone know's what a government coin should look like so there wont be worry of fake silver when it comes to sell. There is little to no paper trail on these.

once you get to the 300-500oz level if you want to lower the price move up to 5-10oz bars. 5oz/10oz bars are lower in price to 1oz coins but less recognizable, these will take longer to off load and you might have to sell for a discount depending on how fast. There is less of a market for these. There will probably be slightly more of a paper trail when dealing with these.

If your stack gets over 1000oz you can start getting the 100oz bars because you've built a good enough base and the price per oz will be cheaper. There is even less of a market for these but bigger dealers will take them as well as local coin shops, it might require shopping around. Also if silver does reach $100/oz that 100 bar = $10,000 so suddenly counter fitting becomes a serious issue. LOTS more of a paper trail on these items.

As for selling do it in reverse order to buying obviously.

I also agree that buy in orders of 100oz+ so the shipping price doesn't kill your bottom line.
12/29/11 3:34 PM
Ignore | Quote | Vote Down | Vote Up
EasyTapper
37 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 12/2/05
Posts: 7280
AG_bull -
Kamikaze Emu - 
MoreThanUFC - 
EasyTapper - I understand silver is silver is silver. But is one form more desirable than another or easier to move? One of my biggest concerns is needing to liquidate at some point and having 10 or 20 lbs of coins to try and sell.


Coins sell by face value, at least around me, not by weight. You dont have to try and sell a few here, a few there.

And most silver buyers who are serious dont give a rats ass whether its junk or bars.


When you say face value you don't mean you can but a $5 Canadian maple, which is one troy ounce, for $5 do you?


^He is referring to junk silver (90%).

Check out and play around with this calculator:
http://www.coinflation.com/coins/silver_coin_calculator.html

1 quarter that is 90% goes for $4.95 so that's approximately 20x face value.

For 99.99% pure coins (Maples/Eagles) they weigh 1 troy oz so that determines their price. Usually spot price of silver + premium of $1-2 for Maples + Eagles but they can sell way over value on ebay.

I posted this on another thread but will put it here also:
my theory is buy a base first (junk silver), something that can easily be traded and recognized.

then move up to 1oz .999 coins (Eagles or Maples) for as cheap as possible over spot. These are easily recognizable so you will be able to off load them quickly if the need should ever come. Everyone know's what a government coin should look like so there wont be worry of fake silver when it comes to sell. There is little to no paper trail on these.

once you get to the 300-500oz level if you want to lower the price move up to 5-10oz bars. 5oz/10oz bars are lower in price to 1oz coins but less recognizable, these will take longer to off load and you might have to sell for a discount depending on how fast. There is less of a market for these. There will probably be slightly more of a paper trail when dealing with these.

If your stack gets over 1000oz you can start getting the 100oz bars because you've built a good enough base and the price per oz will be cheaper. There is even less of a market for these but bigger dealers will take them as well as local coin shops, it might require shopping around. Also if silver does reach $100/oz that 100 bar = $10,000 so suddenly counter fitting becomes a serious issue. LOTS more of a paper trail on these items.

As for selling do it in reverse order to buying obviously.

I also agree that buy in orders of 100oz+ so the shipping price doesn't kill your bottom line.
Great post. Thanks for the insight. Next week I'm going to check out some local coin shops. My plan is to buy 1-2 eagles a month and However much else I can afford in Kennedy halves and Washington quarters. Phone Post
12/31/11 1:05 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11574
Ag_bull answered for me perfectly.
1/1/12 3:51 AM
Ignore | Quote | Vote Down | Vote Up
blushgirl412
7 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 5/10/05
Posts: 4026
4L
1/2/12 9:33 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11625
Just picked up $100 face for $2k. My local guy cant get his hands on anything but junk and 100oz bars right now. He said the moment silver dipped below $30, his phone didnt stop ringing.

Grab what you can now, if you can.
1/2/12 9:44 PM
Ignore | Quote | Vote Down | Vote Up
SgtJustinTeplitz
218 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/13/08
Posts: 6185
^^good stuff MoreThanUFC!
1/3/12 4:32 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11644
Biggest one day move in silver since '08. I had a feeling that any perceived Euro-cure all may slingshot au-ag.

Betting on an Iranian conflict... seems like a sure-thing. Might move into USO for a time.
1/4/12 1:57 AM
Ignore | Quote | Vote Down | Vote Up
SgtJustinTeplitz
218 The total sum of your votes up and votes down Send Private Message Add Comment To Profile

Member Since: 3/13/08
Posts: 6189
^^^ It's not going to get too high just yet...but, it will hit 100 in 20 years or less and maybe even 400 before we croak. What else can we say that about (something making 10X it's money in a couple or a few decades)?...
1/4/12 9:07 PM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11720
It will be $100 a lot sooner than that. Technically, silver should be $240 now.... when talking physical. There is 8 times ( at least ) more paper silver than actual mined physical. So, the real price of physical silver is diluted by the bullshit price of paper.

When the first shot is fired against Iran, and 40% of the world's oil supply is cut off, we will see then what silver will really buy you. So traders are saying oil will hit $175 this year. Oil has a funny affect on gold, which in turn affects silver.

Sgt, did you just recently get the silver bug?

Can you explain the relationship of price to margin requirements?
1/6/12 10:48 AM
Ignore | Quote | Vote Down | Vote Up
MoreThanUFC
Send Private Message Add Comment To Profile

Member Since: 6/13/07
Posts: 11773
http://www.zerohedge.com/news/guest-post-why-has-gold-been-down

Why Has Gold Been Down?

In spite of some short-term fixes, there remains no real resolution to the sovereign debt issues in many European countries. We're certainly not spending less money in the US, and now we're bailing out Europe via currency swaps with the European Central Bank. Shouldn't gold be rising?

Yes, but nothing happens in a vacuum. There are some simple explanations as to why gold remains in a funk.

The MF Global bankruptcy, the seventh-largest in US history, forced a high degree of liquidation of commodities futures contracts, including gold. Many institutional investors had to sell whether they wanted to or not. This is similar to why big declines in the stock market can force funds and other large investors to sell some gold to raise cash for margin calls or meet redemption requests.
The dollar has been rising. Money fleeing the Eurozone has to go somewhere, and some of it is heading into US bonds, which means first converting the foreign currency into dollars.
It's tax-loss selling season, something that's also impacting gold stocks. Funds and individual investors are selling underwater positions for tax purposes. Funds also sell their big winners to lock in gains for the year and dress up quarterly reports.

Read the rest at the link.

Reply Post

You must log in to post a reply. Click here to login.