Possible of sub $20 silver?

[pmbug]

Bird in the hand...

 

[Jordan]

I don't understand this. If you could sell physical silver at $30 and buy SLV at $22, why wouldn't you do that and then swap back into physical when the prices converge? I doubt that divergence is going to be permanent. Either SLV is going to come up or physical will come down, but either way you should end up with more ounces of physical at the end of the trade.

There's more to the price of silver than just the silver. Moving it, pressing it into 1oz coins, insuring it, all costs a boatload of money.

 

[Bossobass]

Having sold @ $34, I'm dying to get back in at $23, but...

Silver Pandas = SOLD OUT!
ASE = SOLD OUT!
Maples = SOLD OUT
ASE SF Mint = SOLD OUT!
Buffalos = SOLD OUT!
Mexican Libertad = Spot + $3.50

Yeah, lousy investment, that silver bullion nonsense, everyone with any is dumping it in a panic

What does it matter the price against the USD when you can't buy any????

Personally, I'd take several monsters @ $23 spot... in a heartbeat.

 

[buenijo]

Sub $20 silver? Well, considering that the price is roughly $30 at the moment that's a long way to fall... oh, were you referring to the "spot price"? Look, premiums on investment grade silver coins (U.S. eagles and Canadian maples) is $6 over this nebulous "spot price", and that assumes a bulk purchase while also waiting a while for delivery. We saw the same thing during 2008 when the "spot price" for silver dropped by 50%. Anything can happen in these markets, but either way I think it's important to recognize the reality that there exists a price for paper silver and a price for physical silver, and the two are only loosely correlated at best. I was really excited during 2008 when the "spot price" for silver dropped to $10. I jumped online to buy silver only to be sorely disappointed as I couldn't find any! Furthermore, I had to pay nearly $6 over "spot price" to finally get it, and wait a month for delivery. One of the main reasons why I chose to purchase at the higher price was because of the clear deviation between the paper price vs. physical price. That was and is good circumstantial evidence for a very tight market in physical silver. This reminds me of a story: a woman goes into a supermarket looking to buy prime rib. She is shocked at the price of $20 and asks the butcher why the price so high saying, "The market down the street sells it for $10!". The butcher replied, "Well, why don't you go there?". The lady sighed, "They've been out of prime rib for the last week." "Ah," replied the butcher, " but when I'm out of prime rib I sell it for $5!".

 

[Michigan11]

3 virds in the hand. worth about $50 bucks tdday

 

[Michigan11]

I reach down.....ease th eseat back....

 

[osan]

I have been quoted $0.25 over spot for .999 shot. Minimum 200 ozt. to avoid $50 service fee. I can afford maybe 10 or 15 ozt.

Anyone interested?

1 ozt. .999 coin blanks, 1.75 over spot, min. 40 ozt.

Can also get 10 ozt. bars, .75/ozt over spot.

I'd like to get a 200 ozt. shot order in. Can't afford to do one smaller, so if enough are interested, I would be willing to broker this. Might be able to get drop shipping done, though have nor asked yet.

I can recast into ingots and roll into sheet. I don't think you will find it cheaper than this anywhere.

 

[buenijo]

I have been quoted $0.25 over spot for .999 shot. Minimum 200 ozt. to avoid $50 service fee. I can afford maybe 10 or 15 ozt.

Anyone interested?

1 ozt. .999 coin blanks, 1.75 over spot, min. 40 ozt.

Can also get 10 ozt. bars, .75/ozt over spot.

I'd like to get a 200 ozt. shot order in. Can't afford to do one smaller, so if enough are interested, I would be willing to broker this. Might be able to get drop shipping done, though have nor asked yet.

I can recast into ingots and roll into sheet. I don't think you will find it cheaper than this anywhere.

I recommend against silver shot. In general, silver shot is purchased by jewelers for the fabrication of silver products. I can say from experience that it's extremely difficult to resell silver in that form. For that reason I purchase only investment grade silver (silver eagles, silver maples, royal mint silver bars, etc.). "Junk" silver is ok simply because it's recognizable as silver. That's the main problem... when it comes time to sell/trade silver you have to be able to convince the buyer that you have silver. I've found that any savings in lower premiums today is likely to be lost in the trade later. For example, even APMEX is buying silver eagles in the open market (from customers) for $3.50 over spot. The best deal I've found so far is bulk 2013 silver eagles at gainesvillecoins.com for $4.55 over spot (with bank wire and week delay on delivery).

 

[oyarde]

Well right now , silver @ $24.04 , gold $1462.90, Copper , about $3.20 , Palladium $678 , platinum $1476. Of course , I doubt anyone could buy any for that .....

 

[kpitcher]

Amagi looks like they have decent pricing on silver coins. With silver at 24 their 1oz rounds are 26.49
http://www.amagimetals.com/silver/1-ounce.html

Never ordered with cash there but have used them with bitcoins so not sure how price competitive they are.

 

[Carson]

buenijo,

Your link has some interesting stuff to look at.

http://www.gainesvillecoins.com/bestseller.aspx


I'm a little leery of buying some of the ones that are, "Design". Still some are nice and the website does have some variety to check out.

http://www.gainesvillecoins.com/products/163406/1-oz-silver-round-indian-head-design-999-pure.aspx



P.S. You too kpitcher,

-http://www.amagimetals.com/silver/1-ounce/1-oz-silver-freedom-girl-round.html

 

[buenijo]

Carson, In general I avoid numismatics (i.e. "designer" bullion coins) as well. However, I had a great experience with Chinese pandas. The Chinese one ounce silver panda is a Chinese government sanctioned coin that is truly beautiful. Few are minted each year, and a new design is released every year. What this tends to do is increase the value over time simply due to scarcity. Check premiums for recent pandas vs. older pandas and you'll see clearly that the premiums increase over time. Well, I bought 100 2008 pandas in 2008 along with a very large purchase of 2008 silver eagles. I got the pandas for just under $20 per coin (about $8 over spot). I later sold them for $75 (about $32 over spot). Of course, fancy silver is not going to matter much in a worst case scenario, but I don't buy into the worst case scenario. We must be mindful of statistics folks: "worst case" is by definition unlikely to transpire. If I could do it over again I would buy all pandas and forgo the eagles.

The lesson here is that a high premium is not inherently bad. I also note that I routinely get between $1.50 and $2.00 over spot when I sell silver eagles to local coin shops (which I rarely do) even when nothing strange seems to be going on in the silver market. Right now APMEX is paying $3.50 over spot for silver eagles. LESSON: You often get back higher premiums that you pay... or more as in the case of the pandas. For example, 2013 pandas are $10 over spot at APMEX (bulk price). If you can find older years they are often $100 or more over spot. Perhaps I should have bought and held more pandas.

The single most important thing in buying silver is that you get a form that is most recognizable as silver. Consider not only the initial purchase, but the future reselling.