No silver

[Original_Intent]

A fe months ago, all of the PM dealers in my area ran out of silver.

It happened again today. My local dealer has NO silver on hand to sell - at any price. He says they are getting a couple 100 oz bars in later today and *MAY* be getting some 1 oz rounds next week.

I hate it because I just got my tax refund and wanted to buy some silver.

 

[ItsTime]

what is he charging for the 1oz rounds?

 

[jclay2]

Just wait until the mainstream starts seeing the hints of inflation. There won't be a single piece of metal left anywhere.

 

[constituent]

i was given a one ounce round as a gift years ago when it was worth "about eight bucks." i wonder if people aren't just cashing in atm and a couple big players are buying it up.

 

[Original_Intent]

what is he charging for the 1oz rounds?

$16.50 based on current spot. (so about a $3.50 markup)

 

[LibertyEagle]

$16.50 based on current spot. (so about a $3.50 markup)

Isn't that a lot of markup for a round? You can get them for $15.16 from APMEX.
http://www.apmex.com/Category/520/Silver_Rounds_Secondary_Market__New.aspx

Heck, you can buy Philharmonics for $17, as I recall.

 

[bander87]

Yeah, I agree, a pretty high markup.

 

[Josh_LA]

A fe months ago, all of the PM dealers in my area ran out of silver.

It happened again today. My local dealer has NO silver on hand to sell - at any price. He says they are getting a couple 100 oz bars in later today and *MAY* be getting some 1 oz rounds next week.

I hate it because I just got my tax refund and wanted to buy some silver.

try Scottsdale Silver

they're cheaper than eBay right now, free shipping too.

 

[Josh_LA]

Isn't that a lot of markup for a round? You can get them for $15.16 from APMEX.
http://www.apmex.com/Category/520/Silver_Rounds_Secondary_Market__New.aspx

Heck, you can buy Philharmonics for $17, as I recall.

after shipping?

 

[tmosley]

Yeah, that probably doesn't include shipping, which is a killer.

 

[ItsTime]

shipping kills the price at apmex

 

[rockjoa]

Bullion Direct has a good price on generic 1 oz silver, ~$14.50
http://www.bulliondirect.com/catalog/lp/Silver_Bullion_999pure_Bars_Rounds_(1.00_oz).html

 

[Brian4Liberty]

Apmex.com seems to be down. Wonder what happened...
Nevermind, probably my system...

 

[Josh_LA]

shipping kills the price at apmex

that's what I thought, can somebody tell me who beats Scottsdale Silver?

(for under $1000)

 

[devil21]

Here's about the cheapest silver rounds you'll find.

http://www.apmex.com/Category/156/default.aspx

Created specifically for the GIM web forum so it's not a "known round" but it's still silver at close to spot.

 

[IChooseLiberty]

Buy SLV and exchange it for real silver when it's available at your local dealer..... but I'd wait a couple weeks before buying SLV IYKWIM

 

[LibertyEagle]

shipping kills the price at apmex

Well, if you're ordering around $1000 worth, the S&H works out roughly to about 50 cents per round.

 

[Josh_LA]

here's about the cheapest silver rounds you'll find.

http://www.apmex.com/category/156/default.aspx

created specifically for the gim web forum so it's not a "known round" but it's still silver at close to spot.

after shipping?

 

[Josh_LA]

Buy SLV and exchange it for real silver when it's available at your local dealer..... but I'd wait a couple weeks before buying SLV IYKWIM

didn't know that was even possible.

 

[IChooseLiberty]

didn't know that was even possible.

Well, SLV is an ETF that is backed by physical silver. You can't exchange it directly like you could a futures contract. The thing is that it tracks spot minus fees compared to physical bought at a dealer that tracks spot + variable commission based on demand.

Buy SLV when silver spot is low (this is when demand is highest as are commissions)

When SLV goes up, demand for physical silver falls as do commissions due to lack of demand.

Sell your SLV position and exchange the cash for physical silver.

Viola.