PMs: SilverSaver.com

You don't know? There's threads about it all over the place.

The bullion banks have basically admitted that they are leveraged 100:1 in their metals trades, and now it is coming out that Canada's only bullion bank's vault is practically empty.

There is a MSM blackout on the story for now, but it is seeping out through blogs and such. I hope you've accumulated enough gold and silver. It may not be available for much longer.
 
Thank you everyone for the great comments and questions.

tmosley - Your comment about displaying our insurance on the website is well noted. We should have that up in the next few days and will post a link on this thread when it is live. Keep in mind, however, the ultimate insurance is to take physical delivery, which we encourage by allowing for such as small amount to be shipped (20 oz). As far as info on DBA is concerned, SilverSaver is a service of our parent company Mass Metal LLC. Our physical address is listed on the "Contact Us" page on the website. All great stuff...keep it coming. We have been spending over a year on this thing and we are open to all ideas about how to make it better.

SoverignMN - Deliverable forms vary in cost primarily based on the fabrication charges. Getting deliverable ounces to our clients is NOT a profit center for us. We get as close as possible to the combined fabrication, shipping, handling and insurance charges for each deliverable form and utilize an easy to use exchange cost that includes all charges. For example, right now the exchange cost for a 1-oz silver buffalo is .05 ounces, but for a 1-oz American Eagle it would be .13 ounces. This makes it very easy and transparent to see the additional premium you are paying with everything included. The condition of the silver is on a per item basis...everything is .999 fine right now and are in various forms but we are constantly looking to expand our deliverable inventory.

Current Inventory
1-oz Silver Buffalo Rounds - New
1-oz 2010 American Silver Eagles
10-oz Sunshine Bars
100-oz Johnson Matthey Bars
1000-oz Bars

Additional Inventory available next week
1-oz Canadian Maple Leafs
10-oz Academy Bars
 
Yea, the problem is they've fucked with Silver/Gold so much that it's sorely undervalued right now. Whoever owns it is going to get a massive bump in purchasing power. According to John Williams of Shadowstats adjusted for inflation the 80's high of $800 is = $2500. AND they've printed so much money since then Gold should be $7500 right now. And, this doesn't even take into account the FRAUD in the markets. Massive naked short selling, Tungsten covered Gold bars. It's definitely going to be interesting.
 
tmosley said:
You don't know? There's threads about it all over the place.

The bullion banks have basically admitted that they are leveraged 100:1 in their metals trades, and now it is coming out that Canada's only bullion bank's vault is practically empty.

There is a MSM blackout on the story for now, but it is seeping out through blogs and such. I hope you've accumulated enough gold and silver. It may not be available for much longer.
Click to expand...

umm but apmex is still selling
 
I am leery of any sort of "you don't hold it" type PM investments.

What is to prevent silversaver.com from just closing up shop and my metals/cash invested just disappearing into the air? I assume this would be covered by the insurance you spoke of but it just sounds like another Pay Now-Collect Later ponzi scheme. Or a great way to consolidate privately held PMs in one place where the gov't can swoop in and take it whenever they want at the point of a gun. No offense of course. Ill take a look at your site but needless to say my trust in all things PM is pretty thin these days.
 
devil21 - We here at SilverSaver share some of your concerns...that's why when we designed the site we made certain that clients can take delivery of as little as 20 ounces.
 
One other thing that some of the family noticed when looking through your site--rather than locking in the silver price when you place the order, you wait for the check to clear (I think it is 5 days), and THEN you lock in the price. This is not very good. Waiting five days before having the purchase take effect could be disastrous. If you are gong to do something like that, then you need to have the facility to hold cash while it clears, and then allow the client to pull the trigger when they feel it is best.
 
That is another great talking point tmosley. Phrases like "lock in the silver price" and "place the order" are terms that are reserved for a trading or gambling mentality with precious metals. There are hundreds of places to buy and sell silver this way and most of us here have used many of them.

Our aim was to design something totally different...taking that trading mentality out and creating a way to accumulate ounces of silver on a regular schedule as a HABIT. If you have a weekly or monthly schedule set up, you will be buying silver for your account at the approximately the same time each week or month. This dollar cost-averaging approach usually catches some lower prices and some higher prices. The parallel is not a perfect one, but think of it as a monthly automated purchase plan into a Roth IRA using a mutual fund vs. a brokerage account where stocks are traded daily.

As far as the 4-5 business days for the clearing process...that is the time that it COULD take, but banks can often release funds sooner and in most cases they have. Holding cash is not currently an option through SilverSaver. As we know, there are risks with holding cash as well and I already addressed removing the trading mentality by saving regularly.

This is an alternative to dollar savings...to bring to everyone, not just the technically savvy silver folks out there to a place where they have some monetary protection. To throw a big picture vision out there...just think if 500,000 people were saving $100 per month in silver That would pull $600 million in silver off the market each year. This would greatly increase the number of people that have a vested interest in demanding that sound money dominates the monetary landscape in the coming years.

We just felt that for this to happen, in this age of "I don't have the time", creating an easy way for people to automatically save was a good thing to do.

Josh
SilverSaver
 
silversaver.com

Hi,
I have read his book "Get the Skinny on Silver". It is an excellent primer on Silver Investing. I saw your video and came across your site from David Morgan's "Silver-investor.com" and this forum as well.

I think the silversaver program is quite good for people to save on silver who cant put in large amounts at one go. I do have few questions though on the same.

1. If at some point of time, someone wants stop the scheduled purchases, can they do so?

2. What happens if they did that are there some charges etc., for doing this or any other fees for not investing regularly?

3.I see that for taking delivery, it says one has to pay a Fabrication charge. I thought when we place order for buying the metal, we are purchasing the metal (actual coins, bars etc.,) Here I am a little confused myself.
A few other online programs i.e Allocated (Segregated) storage charge customers fabrication charge when customer wants to take delivery. I dont understand this, could you please explain? I do understand the other charges though i.e handling, shipping & insurance during delivery process. It makes sense for Pool accounts to charge for fabrication.

4. Lastly, How does one pay the storage fees per month?

Thanks,
Anand
 
Anand,

Here are the answers to you questions:

1. Yes, it is very simple. You as the Saver have complete control. It can be done in two steps...1.) Click "Remove" 2.) Click the confirmation button "yes remove this schedule". That's it!

2. There are no charges for removing your saving schedule.

3. Silver held at the depository is allocated, not in any specific form, but rather in weight. When you choose to have your silver delivered to your door, that is when the appropriate costs are accounted for.

4. Storage costs are automatically debited out of your silver holdings at the depository on the 1st of each month. 0.05% per month (0.60% per year)

In addition I thought an excerpt from the FAQ section might be helpful to describe the difference between a "pool account" and SilverSaver.

Allocated:
This how SilverSaver operates. Allocated silver or gold is very simple. The metal is held on behalf of the account holder under a custody agreement. It is held at a depository titled in your name as your outright property. The metal is neither the property nor liability of the depository. With this type of agreement it is not subject to any third party creditors.
Every purchase transaction is initiated by you via silversaver.com. At the time the transaction is completed, ownership transfers from MassMetal LLC to you. At that point First State Depository has agreed to act as physical custodian of your bullion, until at your instruction you decide to sell the silver back or initiate delivery, submitted by you, exclusively via Silversaver.com.

Unallocated:
In an unallocated pool account the account holder does not have title to the silver or gold he/she has "purchased". Rather, in reality what the investor has "purchased" is an asset or claim to a certain amount of silver or gold. So essentially, in an unallocated account you are promised a defined amount of silver or gold. ("Your" metal is simply a liability on the balance sheet of the bank or company) There may or may not be a pile of physical metal held to back the purchase and if there were it could conceivably be leased out to generate interest for the bank or company with the expectation of it being returned if needed. What this means is, you could find yourself standing in line with all of the other unsecured creditors in the event of financial problems or insolvency of the purveyors of this type of account. We do not recommend anyone use this type of account. You want to be an owner not a creditor.

Please let us know if you have further questions.

Best regards,

Josh McCleary
SilverSaver by Mass Metal LLC
 
tmosley said:
You don't know? There's threads about it all over the place.

The bullion banks have basically admitted that they are leveraged 100:1 in their metals trades, and now it is coming out that Canada's only bullion bank's vault is practically empty.

There is a MSM blackout on the story for now, but it is seeping out through blogs and such. I hope you've accumulated enough gold and silver. It may not be available for much longer.
Click to expand...

A lot of the people on the other side of their trades are not intrested in physical either. While this could cause the short squeeze of a life time in the short to medium term, it doesn't have to many implications for the long long term price of silver.
 
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