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OtherGround Forums >> .999 Silver = Best long term investment


12/27/12 5:15 PM
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anonymousone
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Thinking about adding $2000 or so to my stack soon.

Cant decide between 60-65oz of Silver Maples

or

1 Gold buffalo and like 10oz silver.

Most of my stack right now is silver.

Also, the best pricing that I have found is goldmart . selection is limited, but better prices than Provident usually always. Better than gainesville for the most part, but i cross shop to make sure, then check LCS to see if they just happen to be cheaper and have the inventory

And if you are buying large amounts, nothing beats tulving (that i have seen)
12/27/12 7:01 PM
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williepep
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anonymousone - Thinking about adding $2000 or so to my stack soon.

Cant decide between 60-65oz of Silver Maples

or

1 Gold buffalo and like 10oz silver.

Most of my stack right now is silver.

Also, the best pricing that I have found is goldmart . selection is limited, but better prices than Provident usually always. Better than gainesville for the most part, but i cross shop to make sure, then check LCS to see if they just happen to be cheaper and have the inventory

And if you are buying large amounts, nothing beats tulving (that i have seen)

Thanks will check out some of these sources.


And I am thinking about adding gold, torn between what type.
12/27/12 7:03 PM
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williepep
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^^^ Must say so far I am happy with Provident Metals.
12/27/12 7:40 PM
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Roland Bates
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yabadaba - 
Roland Bates - Failure on Comex silver coming?

http://goldswitzerland.com/a-failure-on-comex-silver-alasdair-macleod/

"There are so many systemic dangers now but I think the story I’m going to alight on is one I wrote about recently about gold and silver on the COMEX. The bank participation report came out on the 4th of December, and I was able to complete the figures for this year. Bank shorts are at or near record levels. And what is interesting is that with the prices of gold and silver well below the all-time highs there are no profit-takers in the market to sell contracts to close their shorts. And in silver it is very, very alarming. This leads me to think that we are quite likely to have a failure on COMEX and in the silver market in particular.

If you have a failure in silver on COMEX then that is going to affect the gold futures market as well. The West’s central and commercial banks have suppressed the price of both gold and silver by supplying central-bank gold and increased short positions, making prices far too cheap. The result has been a massive transfer of gold and silver to Asia. This is the relevance of the point that you have been raising about Central Banks gold holdings, and it is also going to bring into question the solvency of the bullion banks who are short.

So, I think that while it may not be obvious to many people at the moment, when we look back at the fourth quarter we will see that the conditions were in place for a huge bear squeeze, for silver in particular. I would assume that the short position in gold is more controllable so long as Western Central Banks continue to make bullion available to the bullion banks that are short either on COMEX or with LBMA. But silver is different, nobody has it for sale. There is no silver around."



From the same website:

Storage: GoldSwitzerland safely stores any type of precious metal for clients including coins and will assist with transport from anywhere in the world.
Terms:: Allocated and Segregated.
Purchasing: When buying Gold Bullion for clients the Gold will invariably remain in storage as unleveraged savings deposit. The type of bars we buy for clients are the most commonly traded bullion bars...

I haven't look too far into this but to me it seems like a marketing scheme (i.e. try to convince customers that there is a shortage of whatever it is you're trying to sell them - gold/silver in this case).

From the description of the article the banks are in a horrible postion - caught in short positions on an investment that's going to go up in price (i.e. if you're short silver and the price of silver goes up you lose).

For anyone who buys into this stuff is there any explanation for why the banks were so stupid? Note that just saying "the game is rigged" or other similar pablum doesn't constitute an explanation.


Paging Bear Stearns circa 2008. . . paging Lehman Brothers circa 2008. . . paging Citicorp circa 2008. Lol.

One of the more specific conspiracy theories is that JPM acquired its short silver position as part of the Bear Stearns acquisition.

Be that as it may, I understand and concur that one should not automatically accept accusations of market manipulation and my bullishness on silver is based on my perception of long term supply/demand fundamentals.

To the extent that belief in futures market manipulation becomes common (and it does not just appear in the one source I cited), it will be bullish for the physical market, which is why I thought it worth posting.
12/27/12 9:08 PM
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yabadaba
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^ I don't see how Bear Stearns, etc. sheds any light here. Are you just saying that banks can be stupid and/or get themselves into horrible positions or is there more to your comment? 

If JPM acquired a large short position in silver in 2008 they've had plenty of time to unwind it. 

Note that I'm not arguing against buying physical gold/silver - I'm just curious to see if anyone can provide an explanation for the alleged behaviour of the banks (other than they did it because they are stupid).

12/31/12 3:10 AM
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williepep
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Anyone think we may see a dip if the markets tank over the next couple of days ?



1/1/13 4:09 AM
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Utah get me two
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I'm seeking additional advice, please. In the past few days, as the price of silver has dropped, I've seen American Eagle coins advertised at lower rates than the kitco.com price, including shipping, on sites like ebay and CL. I'm not going to deal with CL under any circumstances.

Regarding the AE coin, have they always been .999 silver? I'm looking, in particular, at a 1987 coin, 1oz, @ $26.00 including shipping. This is a full $6.30 off the kitco pricing. I am ready to start making purchases, and in the high 20's (price-wise) I'm going to be all over it.
1/1/13 12:57 PM
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qcddog03
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Utah get me two - I'm seeking additional advice, please. In the past few days, as the price of silver has dropped, I've seen American Eagle coins advertised at lower rates than the kitco.com price, including shipping, on sites like ebay and CL. I'm not going to deal with CL under any circumstances.

Regarding the AE coin, have they always been .999 silver? I'm looking, in particular, at a 1987 coin, 1oz, @ $26.00 including shipping. This is a full $6.30 off the kitco pricing. I am ready to start making purchases, and in the high 20's (price-wise) I'm going to be all over it.
yes they are all .999 where are you getting them for that price? Phone Post
1/2/13 8:39 PM
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Roland Bates
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AGood start to 2013. Some might say AUspicious.

Get it. . .get it?







(chemical symbols AG and AU). :)

1/2/13 8:58 PM
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Bean Bag
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Pay in cash at a local dealer who has ungradable/junk silver coins or Silver Eagles.  There will be no paper trail.  

1/2/13 9:54 PM
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SirPrize
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^ I know people who have done that in the past. The problem with that, though, is I've seen shops charge sales tax unless you live out of state. To verify you live out of state, you have to give an address. I don't know if the shops will check ID or just go on the "honor system", or what they will do with records of your address, or how long they will keep the sales info.
1/2/13 10:53 PM
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Tommy Gunnz
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i got some silver as a gift, would now be a good time to sell to make cash? Phone Post
1/3/13 12:17 AM
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SgtJustinTeplitz
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^^^ Are you willing to hold onto your silver for a while to double your money???
1/3/13 7:56 AM
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EasyTapper
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SirPrize - ^ I know people who have done that in the past. The problem with that, though, is I've seen shops charge sales tax unless you live out of state. To verify you live out of state, you have to give an address. I don't know if the shops will check ID or just go on the "honor system", or what they will do with records of your address, or how long they will keep the sales info.

Obviously all states are different, but if you buy something here, you pay sales tax. Doesn't matter where you're from. The internet is the only exception.
1/3/13 7:57 AM
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EasyTapper
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Tommy Gunnz -  i got some silver as a gift, would now be a good time to sell to make cash? Phone Post

No, silver's down. I'd hold onto it for a while (unless you want to sell to me, then now is an ideal time to sell)
1/3/13 8:05 AM
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Akston
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Guns and ammo, can be used to take other people's silver, food, or anything else Phone Post
1/3/13 8:06 AM
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The Wizzle
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relevant
1/3/13 12:27 PM
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EasyTapper
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warmasheen - For you guys recommending buying only Eagles and Maples I will say this.

I've bought and sold silver for a while and can say that 100% of the time I have NOT gotten my premium back when selling the Eagles and Maples. I bought the with like a $4 premium and when I go to sell them everyone says "nope, silver is silver".

I say by the cheapest .999 you can find that is a recognizable brand. APMEX, Monarch, whatever. YOu're only going to get spot out of it. This could mean the difference of quite a bit of money when dealing with very small margins.

Also, don't pay tax or shipping, that kills your margin. Buy off private dealer on craigslist or a local shop.

I've said this many times in this thread. Buy wholesale (craigslist,etc.) and sell "retail" (ie Ebay.) Unless you're dealing with a shop, you should come close to getting your premium back.

Here's one that sold for around $41 (includes shipping)
http://www.ebay.com/itm/2011-One-Dollar-Brilliant-Uncirculated-BU-Silver-Eagle-1oz-999-Silver-Coin-/121040572188?pt=Bullion_US&hash=item1c2e948f1c

Here's an auction for 3 Maples that are going to go for over $37 ea.
http://www.ebay.com/itm/3-2013-1-Ounce-Each-Canadian-Silver-Maple-Leaf-Coins-GEM-BU-Quality-9999-Silver-/230907102082?pt=Bullion_US&hash=item35c322c382

And right now spot is 30.85. You can get your premiums back if you know what you're doing and willing to spend the time to do it.
1/3/13 3:24 PM
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SirPrize
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EasyTapper - 
SirPrize - ^ I know people who have done that in the past. The problem with that, though, is I've seen shops charge sales tax unless you live out of state. To verify you live out of state, you have to give an address. I don't know if the shops will check ID or just go on the "honor system", or what they will do with records of your address, or how long they will keep the sales info.

Obviously all states are different, but if you buy something here, you pay sales tax. Doesn't matter where you're from. The internet is the only exception.

The problem with tax is that it kills your profits. A 7% sales tax on $30 silver means it has to go to $32.10 just to break even. In the long run, it may not matter, though, not if/when it's over $50.
1/3/13 5:56 PM
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Family Jules
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Great thread.

Got about $10k cash laying around looking to turn it over into precious metals.

1) how much should I buy to start off?
2) would you recommend buying gold as well?
3) if so, how much gold/silver ratio should I aim for?
4) any other tips for someone starting off?

Any advice is welcome. Phone Post
1/3/13 6:12 PM
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Greenup
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I'm in the same boat as you ^^ I'm just gonna buy as much as possible without leaving a paper trail each month. Going gold first maybe some silver later. Phone Post
1/3/13 7:05 PM
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EasyTapper
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SirPrize - 
EasyTapper - 
SirPrize - ^ I know people who have done that in the past. The problem with that, though, is I've seen shops charge sales tax unless you live out of state. To verify you live out of state, you have to give an address. I don't know if the shops will check ID or just go on the "honor system", or what they will do with records of your address, or how long they will keep the sales info.

Obviously all states are different, but if you buy something here, you pay sales tax. Doesn't matter where you're from. The internet is the only exception.

The problem with tax is that it kills your profits. A 7% sales tax on $30 silver means it has to go to $32.10 just to break even. In the long run, it may not matter, though, not if/when it's over $50.

Oh, no, I agree with you. Was just saying that if you buy something here, it doesn't matter if you're an out of state resident or not, you pay tax. But were close to DE, which is a tax free state, so it may be worth the trip sometime.
1/3/13 7:13 PM
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williepep
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Family Jules -  Great thread.

Got about $10k cash laying around looking to turn it over into precious metals.

1) how much should I buy to start off?
2) would you recommend buying gold as well?
3) if so, how much gold/silver ratio should I aim for?
4) any other tips for someone starting off?

Any advice is welcome. Phone Post

http://the-moneychanger.com/answers/ten_commandments_for_buying_gold_and_silver






Some of the more experienced hands may want to weigh in on the advice suggested on the link, however, at least this link is willing to put forth some specifics.

I thought it was worth a read, at the very least to make you think about a few different things.

1/3/13 7:37 PM
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yabadaba
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Edited: 01/03/13 7:38 PM
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http://the-moneychanger.com/answers/ten_commandments_for_buying_gold_and_silver

On first glance this site seems refreshingly free of conspiracy theories:

What about government gold confiscation, Moneychanger?

We expect it more likely for you to be abducted by aliens than for the Federal Government to attempt gold confiscation. First, gold no longer forms a significant part of the monetary reserves in this country, as it did in 1934 and therefore, confiscation makes no sense. Second, the folks who tell you about government confiscation are generally trying to sell you overpriced coins that will line their pockets and empty yours.

1/3/13 8:34 PM
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Hob
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Family Jules -  Great thread.

Got about $10k cash laying around looking to turn it over into precious metals.

1) how much should I buy to start off?
2) would you recommend buying gold as well?
3) if so, how much gold/silver ratio should I aim for?
4) any other tips for someone starting off?

Any advice is welcome. Phone Post

Just get 3 loaves and throw them in the safe.

 

http://www.providentmetals.com/100-oz-999-fine-silver-bar-johnson-matthey.html

 

 


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