I was only looking for confirmation that as of now, the Kitco price for silver is not an accurate value for a 'fair market' transaction of silver.
There is a large bullion dealer (google search) offering to buy 10 oz bars for $151-$154. They will sell them to you for about $180-$185.
Dont forget to add in fees, postage and other counterparty risks when not dealing in person and in the moment as these can be considerable....especially on EBAY.
That is a bad offer. There is a large bullion dealer (attached) paying $167.50 for a 10 oz bar. There's a much larger physical premium right now than $0.50/oz.
Is it unfair to say physical silver is trading at about $17-$19?
Not at all. However prices will vary depending on the physical product. I don't believe you will find ASEs or Canadian Mint 10 oz bars in that price range.
I find a silver product's "pecking order" in the range of premiums to be about the same when it's time to sell.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Dont forget to add in fees, postage and other counterparty risks when not dealing in person and in the moment as these can be considerable....especially on EBAY.
Even though I may be buying from a complete unknown, I consider ebay/paypal buyer protections as great insurance against counterparty risk. I've used their protectionnumerous times and have never been left holding the (empty) bag.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Is it unfair to say physical silver is trading at about $17-$19?
Not at all. However prices will vary depending on the physical product. I don't believe you will find ASEs or Canadian Mint 10 oz bars in that price range.
I find a silver product's "pecking order" in the range of premiums to be about the same when it's time to sell.
Agreed. So i think its easy to see how folk new to PMs can be greatly misled and "taken". There is very little oversight in this industry. And a lot of potential risk.
I have yet to hear one person say they would be happy to sell their silver to anyone for current spot or a $1 over. Because they KNOW that "true value" is what buyers are willing to pay. Right now it is a true sellers market. Sometimes it is a buyers market.
So if you take your 10 oz bar to the derryb and he offers you $153.80, then thats the true value right?
I do not understand your question.
If derryb and I were the only two people on the earth, then yes that is the true value.
Otherwise, knowing you understand what the market is and this has been discussed over and over. The true market right now is about a 1/95 au/ag ratio based on what buyers are paying. The ponzi market is down to 1/113 from over 1/124 and should adjust back below 100 soon. The real market will get back to between 90 and 95 soon.
Thank You All this was a very educational thread. Thank you jclovescoins for the link to a bullion buyers " Buy and Sell list " Ive never seen one before. I guess being a silver Junkie for the last 20 years could eventually pay off. I bought an unopened 2016 monster box last June from this forum. I guessed correctly (a rare event) on that purchase.
thanks guys
Mike
The only reason spot price (determined by futures contracts) has any bearing on physical price is because the CRIMEX COMEX is able to convince it's participants that they can get any of their contracts filled with physical metal at that contract spot price. The reality is that the COMEX does not have enough physical silver to fill it's contracts. It is leveraged over 450 to 1.
Kinda reminds me of the highly leveraged banks who actually hold a very small percentage of our deposits. . . the rest has been loaned out. What happens when a whole lot of people show up at once wanting the cash or their silver bars? FDIC and COMEX say "don't worry about it." LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@isaiah58 said "The true market right now is about a 1/95 au/ag ratio based on what buyers are paying. The ponzi market is down to 1/113 from over 1/124 and should adjust back below 100 soon."
So, when a very big buyer of physical gold and silver, such as Samsung Group, contracts with major sellers at a ratio of around 1/113, this is not a "true market" but rather is a Ponzi market?
@Higashiyama said: @isaiah58 said "The true market right now is about a 1/95 au/ag ratio based on what buyers are paying. The ponzi market is down to 1/113 from over 1/124 and should adjust back below 100 soon."
So, when a very big buyer of physical gold and silver, such as Samsung Group, contracts with major sellers at a ratio of around 1/113, this is not a "true market" but rather is a Ponzi market?
I believe he's referring to the futures market. While I see this market as highly leveraged and corrupt, I'm not sure it's a Ponzi.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@Higashiyama said: @isaiah58 said "The true market right now is about a 1/95 au/ag ratio based on what buyers are paying. The ponzi market is down to 1/113 from over 1/124 and should adjust back below 100 soon."
So, when a very big buyer of physical gold and silver, such as Samsung Group, contracts with major sellers at a ratio of around 1/113, this is not a "true market" but rather is a Ponzi market?
Mary mines and some mints have large contracts in place to provide manufacturers with silver in base forms.
Let's do the math. ABC Mining Company mines raw ore and smells it into .999 bricks, pellets and other miscellaneous unfinished products. They move this based mostly on long term contracts for minimal profit. Let's say SPOT?
Samsung Group pays to ship in their contracted unfinished products for manufacturing purposes.
IRA grade products, or most minted bullion products we invest in and collect, still have additional steps to go thru. Those steps involve costs.
If flights from overseas open back up tomorrow, bullion prices will plummet. During the last spike tons of dealers got stuck on the short side when bullion plummeted.
If flights from overseas open back up tomorrow, bullion prices will plummet. During the last spike tons of dealers got stuck on the short side when bullion plummeted
So what if flights resume next week or next month or next year?
So what if flights resume next week or next month or next year?
Then the premium will re-balance accordingly. If and when supply gets ahead of demand, then the sellers market corrects itself.
The market is very conditional. As someone clearly pointed out, oil was trading negative. No producer was paying anyone to take their oil, only paper traders could cash out on this aspect. Even with physical oil the price is just to purchase the product where it sits.
transportation of supply is only one piece of the puzzle. A bigger piece is currently high demand.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
So what if flights resume next week or next month or next year?
Then the premium will re-balance accordingly.
I think you are saying "collapse". Why would I buy something in which a simple airplane ride would cause the price to collapse. Unless you think airplanes will never fly again.
@DoubleEagle59 said:
What does it take to get a dollar value from anyone?
You realize my question doesn't require an answer that is legally binding.
A month ago I was buying junk Morgan’s for $15 each. Little better ones for 16-20. I was selling them for 20-25 in my shop.
If the antique mall I sell at was still open. I’d be pricing them the same and selling them the same to that market.
Premiums have increased because people are fleeing financial assets and moving to hard assets. Demand is causing a spike in premiums. In addition, higher premiums are telling us that as demand for hard assets increases, hard asset price inflation will continue to rise. "I'm not paying these premiums" just might be the wrong response.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
About 2 weeks since the start of the thread and it appears the true current value is still right about $15.
I wish JPM and the folks could manipulate it back to about $30 just one more time. I'd dump it all in a heartbeat and would never look back or purchase another oz of the shiny again.
@blitzdude said:
About 2 weeks since the start of the thread and it appears the true current value is still right about $15.
If you value your silver eagles at $15, I'll give you a 10% premium and take 500 of them @ $16.50
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@topstuf said:
Apmex says 2016 Eagles are "worth" 3o bucks.
If someone showed up here with $12,500 in ....CASH.... they'd go home with a sealed monster box.
After APMEX pays their taxes on the gain, their employees and all other related transaction expenses, they'll be lucky to see $12,500 for the box. Their net at $15k for the box is likely less than yours (since you insist on cash) at $12.5k for the box. And if so, are they really being that greedy?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
After APMEX pays their taxes on the gain, their employees and all other related transaction expenses, they'll be lucky to see $12,500 for the box. Their net at $15k for the box is likely less than yours (since you insist on cash) at $12.5k for the box. And if so, are they really being that greedy?
Wow not only this above, but it’s amazing how in one thread one can post so many false narratives, I guess that’s worth a gold medal somewhere...
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I am seeing silver 1 ounce coins sell for $25-$30 on eBay and Apmex. Let us see what happens over the summer.
"So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
cohodk's assessment has been shown to be quite erroneous (again).
At one point oil was negative $40 per barrel on the futures market (if you had oil in a tanker you would have to pay someone to take it). But I never saw a gas station willing to pay me to take gasoline off their hands. So were they "price gouging" ?
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
cohodk's assessment has been shown to be quite erroneous (again).
At one point oil was negative $40 per barrel on the futures market (if you had oil in a tanker you would have to pay someone to take it). But I never saw a gas station willing to pay me to take gasoline off their hands. So were they "price gouging" ?
You quote prices from 3 months ago? LOL I'll just assume its the altitude and not something else.
The funny thing is that while some folk were climbing all over themselves to buy shiny trinkets at $25, others just sat quietly at their desk and clicked a few buttons establishing a similar position for half the price. Fast forward to now, and the shiny trinket holders might break even, while others click a few buttons and realize 70% returns.
To recap...buy at what you thought was real price and make little to nothing, or buy at what I felt was real price and make 50+%.
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
cohodk's assessment has been shown to be quite erroneous (again).
At one point oil was negative $40 per barrel on the futures market (if you had oil in a tanker you would have to pay someone to take it). But I never saw a gas station willing to pay me to take gasoline off their hands. So were they "price gouging" ?
You quote prices from 3 months ago? LOL I'll just assume its the altitude and not something else.
The funny thing is that while some folk were climbing all over themselves to buy shiny trinkets at $25, others just sat quietly at their desk and clicked a few buttons establishing a similar position for half the price. Fast forward to now, and the shiny trinket holders might break even, while others click a few buttons and realize 70% returns.
To recap...buy at what you thought was real price and make little to nothing, or buy at what I felt was real price and make 50+%.
So who was erroneous? Dang.
Three months ago is not a long time financially, especially with interest rates paying next to nothing to savers.
You complain about what someone on the forum is selling silver for. But I haven't seen you mention what silver is being sold for on TV. Is that because the TV folks don't participate here ?
PS:
Make a few "clicks" and you could just as easily LOSE 70%.
If one wanted to sell, say, 5-10 $10 rolls of circ Washington Quarters (1932-1964, so 90%), they look to be $162.10, or so, depending when you look at silver spot. What would be a FAIR sell offer (incl USPS shipping)? Not talking ebay. Talking this type of forum.
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
If my buyer pays $25 then silver is $25. If he pays $15 then silver is $15. Why are the simplest things the hardest for you to understand?
The true value of anything is in the eye of the beholder paying the price.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
cohodk's assessment has been shown to be quite erroneous (again).
At one point oil was negative $40 per barrel on the futures market (if you had oil in a tanker you would have to pay someone to take it). But I never saw a gas station willing to pay me to take gasoline off their hands. So were they "price gouging" ?
You quote prices from 3 months ago? LOL I'll just assume its the altitude and not something else.
The funny thing is that while some folk were climbing all over themselves to buy shiny trinkets at $25, others just sat quietly at their desk and clicked a few buttons establishing a similar position for half the price. Fast forward to now, and the shiny trinket holders might break even, while others click a few buttons and realize 70% returns.
To recap...buy at what you thought was real price and make little to nothing, or buy at what I felt was real price and make 50+%.
So who was erroneous? Dang.
Three months ago is not a long time financially, especially with interest rates paying next to nothing to savers.
You complain about what someone on the forum is selling silver for. But I haven't seen you mention what silver is being sold for on TV. Is that because the TV folks don't participate here ?
PS:
Make a few "clicks" and you could just as easily LOSE 70%.
There months ago ASE were selling at $25 and today at $27. Yet futures were at 15 and today 23. If you cant see where your money should have been placed then id suggest you go back to making trinkets.
Dont be jealous because i bought at the "fake price". This place cracks me up.
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
If my buyer pays $25 then silver is $25. If he pays $15 then silver is $15. Why are the simplest things the hardest for you to understand?
The true value of anything is in the eye of the beholder paying the price.
Agreed. And i understand completely. Why cant you?
Kinda comical that my true value is netting 60%---updated, 75%-- returns.
If one wanted to sell, say, 5-10 $10 rolls of circ Washington Quarters (1932-1964, so 90%), they look to be $162.10, or so, depending when you look at silver spot. What would be a FAIR sell offer (incl USPS shipping)? Not talking ebay. Talking this type of forum.
Well, i dont play the premium game, so my buy and sell price is always 0.715 x FV. Some folk like to squeeze out every last penny, but im not one of them.
_Well, i dont play the premium game, so my buy and sell price is always 0.715 x FV. Some folk like to squeeze out every last penny, but im not one of them.
Im sure other forum members have other opinions._
Well, the premium game goes on whether or not you play - so basically you are saying that you don't play about half the time. Which is okay, either way.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
_Well, i dont play the premium game, so my buy and sell price is always 0.715 x FV. Some folk like to squeeze out every last penny, but im not one of them.
Im sure other forum members have other opinions._
Well, the premium game goes on whether or not you play - so basically you are saying that you don't play about half the time. Which is okay, either way.
I've never paid a premium for 90%. Always found locally at melt or if purchased on eBay sometimes slightly over but with ebay bucks etc. the net was always under spot and sometimes well under.
The OP wants to know if silver is $15, $18, $21, or $25, yet derryb keeps beating around the bush....probably because he sells it for $25 knowing its true value is $15.
cohodk's assessment has been shown to be quite erroneous (again).
At one point oil was negative $40 per barrel on the futures market (if you had oil in a tanker you would have to pay someone to take it). But I never saw a gas station willing to pay me to take gasoline off their hands. So were they "price gouging" ?
You quote prices from 3 months ago? LOL I'll just assume its the altitude and not something else.
The funny thing is that while some folk were climbing all over themselves to buy shiny trinkets at $25, others just sat quietly at their desk and clicked a few buttons establishing a similar position for half the price. Fast forward to now, and the shiny trinket holders might break even, while others click a few buttons and realize 70% returns.
To recap...buy at what you thought was real price and make little to nothing, or buy at what I felt was real price and make 50+%.
So who was erroneous? Dang.
Three months ago is not a long time financially, especially with interest rates paying next to nothing to savers.
You complain about what someone on the forum is selling silver for. But I haven't seen you mention what silver is being sold for on TV. Is that because the TV folks don't participate here ?
PS:
Make a few "clicks" and you could just as easily LOSE 70%.
There months ago ASE were selling at $25 and today at $27. Yet futures were at 15 and today 23. If you cant see where your money should have been placed then id suggest you go back to making trinkets.
Dont be jealous because i bought at the "fake price". This place cracks me up.
PS--no i couldnt.
The world according to cohodk:
Nobody else can do well at anything.
Anything cohodk does is great.
When somebody else buys silver [eagles] at $15 and sells at $25 it is a bad thing.
But when cohodk does it, it is the greatest thing ever.
Why are so many folk unloading your trinkets on the BST?
Buy low, sell higher. Learn something from them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Why are so many folk unloading your trinkets on the BST?
Buy low, sell higher. Learn something from them.
Looks like he did buy low and sell high. He wen't click to buy and click to sell.
No premiums, no storage, no packaging, no shipping, no soliciting a buyer, no risk of fraud. All in seconds and a click of a few keys/buttons.
All true however he didn't invest in silver, he bought an option that cannot be converted to silver. He did incur transaction fees as well as the loss in value as each day the options are one day closer to expiration. He also doesn't have the option of riding out a declining/flat market like someone who holds the metal. Pros and cons with either option and a smart investor utilizes both...
Why are so many folk unloading your trinkets on the BST?
Buy low, sell higher. Learn something from them.
Looks like he did buy low and sell high. He wen't click to buy and click to sell.
No premiums, no storage, no packaging, no shipping, no soliciting a buyer, no risk of fraud. All in seconds and a click of a few keys/buttons.
All true however he didn't invest in silver, he bought an option that cannot be converted to silver. He did incur transaction fees as well as the loss in value as each day the options are one day closer to expiration. He also doesn't have the option of riding out a declining/flat market like someone who holds the metal. Pros and cons with either option and a smart investor utilizes both...
I have physical silver and paper silver. I purchased the physical with the intention as a long term hold, to be diversified, insurance, hedge against inflation, whatever. The paper is to play the quick, frequent momentum shifts of the market. Why on earth anyone (outside of a bullion dealer moving tens of thousands of ounces) would try to buy ASEs with the intention of flipping small lots on eBay is beyond me. The fees and premiums would make it a complete waste of time. To each their own but @cohodk has shown a MUCH easier way to realize a profit.
There are many ways to make a profit, but I come here to discuss PMs
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Three months ago ASE were selling at $25 and today at $27. Yet futures were at 15 and today 23. If you cant see where your money should have been placed then id suggest you go back to making trinkets.
.
Yet another classic contrarian indicator from cohodk !
Nine months later and American Silver Eagles are selling for $35.
Ever since cohodk's post (above) about how physical American Silver Eagles underperformed the paper (futures) price, exactly the OPPOSITE has been true, to historic proportions !
.
Three months ago ASE were selling at $25 and today at $27. Yet futures were at 15 and today 23. If you cant see where your money should have been placed then id suggest you go back to making trinkets.
.
Yet another classic contrarian indicator from cohodk !
Nine months later and American Silver Eagles are selling for $35.
Ever since cohodk's post (above) about how physical American Silver Eagles underperformed the paper (futures) price, exactly the OPPOSITE has been true, to historic proportions !
.
Let me know if your interested. I'll sell you all the ASEs you want for $34.99. These people paying $35 an ounce for a ASE are in for a very rude awakening.
Comments
Yes, Upstate did increase their bid premiums in the last few days. So they are buying 10oz bars at about $17/oz and selling at about $18/oz.
Is it unfair to say physical silver is trading at about $17-$19?
Knowledge is the enemy of fear
Not at all. However prices will vary depending on the physical product. I don't believe you will find ASEs or Canadian Mint 10 oz bars in that price range.
I find a silver product's "pecking order" in the range of premiums to be about the same when it's time to sell.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Even though I may be buying from a complete unknown, I consider ebay/paypal buyer protections as great insurance against counterparty risk. I've used their protectionnumerous times and have never been left holding the (empty) bag.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Agreed. So i think its easy to see how folk new to PMs can be greatly misled and "taken". There is very little oversight in this industry. And a lot of potential risk.
What kind of risk....? Oh no he ditnt. Lol
Knowledge is the enemy of fear
I do not understand your question.
If derryb and I were the only two people on the earth, then yes that is the true value.
Otherwise, knowing you understand what the market is and this has been discussed over and over. The true market right now is about a 1/95 au/ag ratio based on what buyers are paying. The ponzi market is down to 1/113 from over 1/124 and should adjust back below 100 soon. The real market will get back to between 90 and 95 soon.
Thank You All this was a very educational thread. Thank you jclovescoins for the link to a bullion buyers " Buy and Sell list " Ive never seen one before. I guess being a silver Junkie for the last 20 years could eventually pay off. I bought an unopened 2016 monster box last June from this forum. I guessed correctly (a rare event) on that purchase.
thanks guys
Mike
MIKE B.
The only reason spot price (determined by futures contracts) has any bearing on physical price is because the CRIMEX COMEX is able to convince it's participants that they can get any of their contracts filled with physical metal at that contract spot price. The reality is that the COMEX does not have enough physical silver to fill it's contracts. It is leveraged over 450 to 1.
Kinda reminds me of the highly leveraged banks who actually hold a very small percentage of our deposits. . . the rest has been loaned out. What happens when a whole lot of people show up at once wanting the cash or their silver bars? FDIC and COMEX say "don't worry about it." LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
True value = Actual value = Agreed upon price
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@isaiah58 said "The true market right now is about a 1/95 au/ag ratio based on what buyers are paying. The ponzi market is down to 1/113 from over 1/124 and should adjust back below 100 soon."
So, when a very big buyer of physical gold and silver, such as Samsung Group, contracts with major sellers at a ratio of around 1/113, this is not a "true market" but rather is a Ponzi market?
I believe he's referring to the futures market. While I see this market as highly leveraged and corrupt, I'm not sure it's a Ponzi.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Mary mines and some mints have large contracts in place to provide manufacturers with silver in base forms.
Let's do the math. ABC Mining Company mines raw ore and smells it into .999 bricks, pellets and other miscellaneous unfinished products. They move this based mostly on long term contracts for minimal profit. Let's say SPOT?
Samsung Group pays to ship in their contracted unfinished products for manufacturing purposes.
IRA grade products, or most minted bullion products we invest in and collect, still have additional steps to go thru. Those steps involve costs.
If flights from overseas open back up tomorrow, bullion prices will plummet. During the last spike tons of dealers got stuck on the short side when bullion plummeted.
If flights from overseas open back up tomorrow, bullion prices will plummet. During the last spike tons of dealers got stuck on the short side when bullion plummeted
So what if flights resume next week or next month or next year?
And Isiah58...you do indeed get the question.
Stack on!!
Knowledge is the enemy of fear
Then the premium will re-balance accordingly. If and when supply gets ahead of demand, then the sellers market corrects itself.
The market is very conditional. As someone clearly pointed out, oil was trading negative. No producer was paying anyone to take their oil, only paper traders could cash out on this aspect. Even with physical oil the price is just to purchase the product where it sits.
Apmex says 2016 Eagles are "worth" 3o bucks.
If someone showed up here with $12,500 in ....CASH.... they'd go home with a sealed monster box.
transportation of supply is only one piece of the puzzle. A bigger piece is currently high demand.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I think you are saying "collapse". Why would I buy something in which a simple airplane ride would cause the price to collapse. Unless you think airplanes will never fly again.
Stack on!!
Knowledge is the enemy of fear
The discovery that Nibiru is .999 silver may have spooked the market.
A month ago I was buying junk Morgan’s for $15 each. Little better ones for 16-20. I was selling them for 20-25 in my shop.
If the antique mall I sell at was still open. I’d be pricing them the same and selling them the same to that market.
https://www.silvertowne.com/p-26415-melt-bucket-999-silver-by-the-ounce-secondary-market.aspx
Premiums have increased because people are fleeing financial assets and moving to hard assets. Demand is causing a spike in premiums. In addition, higher premiums are telling us that as demand for hard assets increases, hard asset price inflation will continue to rise. "I'm not paying these premiums" just might be the wrong response.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
With Silvers anti Viral properties I am surprised it hasn't moved much.
100% Positive BST transactions
About 2 weeks since the start of the thread and it appears the true current value is still right about $15.
I wish JPM and the folks could manipulate it back to about $30 just one more time. I'd dump it all in a heartbeat and would never look back or purchase another oz of the shiny again.
The whole worlds off its rocker, buy Gold™.
If you value your silver eagles at $15, I'll give you a 10% premium and take 500 of them @ $16.50
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Apmex says 2016 Eagles are "worth" 3o bucks.
If someone showed up here with $12,500 in ....CASH.... they'd go home with a sealed monster box.
That isn't out of the realm of possibility.
I knew it would happen.
After APMEX pays their taxes on the gain, their employees and all other related transaction expenses, they'll be lucky to see $12,500 for the box. Their net at $15k for the box is likely less than yours (since you insist on cash) at $12.5k for the box. And if so, are they really being that greedy?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Wow not only this above, but it’s amazing how in one thread one can post so many false narratives, I guess that’s worth a gold medal somewhere...
Wow, I caught another troll! What's the limit?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I am seeing silver 1 ounce coins sell for $25-$30 on eBay and Apmex. Let us see what happens over the summer.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
cohodk's assessment has been shown to be quite erroneous (again).
At one point oil was negative $40 per barrel on the futures market (if you had oil in a tanker you would have to pay someone to take it). But I never saw a gas station willing to pay me to take gasoline off their hands. So were they "price gouging" ?
You quote prices from 3 months ago? LOL I'll just assume its the altitude and not something else.
The funny thing is that while some folk were climbing all over themselves to buy shiny trinkets at $25, others just sat quietly at their desk and clicked a few buttons establishing a similar position for half the price. Fast forward to now, and the shiny trinket holders might break even, while others click a few buttons and realize 70% returns.
To recap...buy at what you thought was real price and make little to nothing, or buy at what I felt was real price and make 50+%.
So who was erroneous? Dang.
Knowledge is the enemy of fear
Three months ago is not a long time financially, especially with interest rates paying next to nothing to savers.
You complain about what someone on the forum is selling silver for. But I haven't seen you mention what silver is being sold for on TV. Is that because the TV folks don't participate here ?
PS:
Make a few "clicks" and you could just as easily LOSE 70%.
Ok, so then this question....
If one wanted to sell, say, 5-10 $10 rolls of circ Washington Quarters (1932-1964, so 90%), they look to be $162.10, or so, depending when you look at silver spot. What would be a FAIR sell offer (incl USPS shipping)? Not talking ebay. Talking this type of forum.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
If my buyer pays $25 then silver is $25. If he pays $15 then silver is $15. Why are the simplest things the hardest for you to understand?
The true value of anything is in the eye of the beholder paying the price.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
There months ago ASE were selling at $25 and today at $27. Yet futures were at 15 and today 23. If you cant see where your money should have been placed then id suggest you go back to making trinkets.
Dont be jealous because i bought at the "fake price". This place cracks me up.
PS--no i couldnt.
Knowledge is the enemy of fear
Agreed. And i understand completely. Why cant you?
Kinda comical that my true value is netting 60%---updated, 75%-- returns.
Knowledge is the enemy of fear
Well, i dont play the premium game, so my buy and sell price is always 0.715 x FV. Some folk like to squeeze out every last penny, but im not one of them.
Im sure other forum members have other opinions.
Knowledge is the enemy of fear
_Well, i dont play the premium game, so my buy and sell price is always 0.715 x FV. Some folk like to squeeze out every last penny, but im not one of them.
Im sure other forum members have other opinions._
Well, the premium game goes on whether or not you play - so basically you are saying that you don't play about half the time. Which is okay, either way.
I knew it would happen.
Make a few "clicks" and you could just as easily LOSE 70%.
Unless you're infallible and never make a wrong move. click, click. easy peasy, anyone can do it.
I knew it would happen.
I've never paid a premium for 90%. Always found locally at melt or if purchased on eBay sometimes slightly over but with ebay bucks etc. the net was always under spot and sometimes well under.
The whole worlds off its rocker, buy Gold™.
Theres this little thing called a hedge...derrby likes to call such things insurance.
But if we are worried about losing 70%, then why did we buy silver? Hasnt it dropped 70% or more on several occasions?
Knowledge is the enemy of fear
The world according to cohodk:
Nobody else can do well at anything.
Anything cohodk does is great.
When somebody else buys silver [eagles] at $15 and sells at $25 it is a bad thing.
But when cohodk does it, it is the greatest thing ever.
Cohodk doesn't buy silver eagles.
So....what else you got?
Why are so many folk unloading your trinkets on the BST?
Knowledge is the enemy of fear
i> @cohodk said:
Buy low, sell higher. Learn something from them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Looks like he did buy low and sell high. He wen't click to buy and click to sell.
No premiums, no storage, no packaging, no shipping, no soliciting a buyer, no risk of fraud. All in seconds and a click of a few keys/buttons.
Perhaps you are the one who could be learning something?
The whole worlds off its rocker, buy Gold™.
All true however he didn't invest in silver, he bought an option that cannot be converted to silver. He did incur transaction fees as well as the loss in value as each day the options are one day closer to expiration. He also doesn't have the option of riding out a declining/flat market like someone who holds the metal. Pros and cons with either option and a smart investor utilizes both...
I have physical silver and paper silver. I purchased the physical with the intention as a long term hold, to be diversified, insurance, hedge against inflation, whatever. The paper is to play the quick, frequent momentum shifts of the market. Why on earth anyone (outside of a bullion dealer moving tens of thousands of ounces) would try to buy ASEs with the intention of flipping small lots on eBay is beyond me. The fees and premiums would make it a complete waste of time. To each their own but @cohodk has shown a MUCH easier way to realize a profit.
The whole worlds off its rocker, buy Gold™.
There are many ways to make a profit, but I come here to discuss PMs
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
.
Yet another classic contrarian indicator from cohodk !
Nine months later and American Silver Eagles are selling for $35.
Ever since cohodk's post (above) about how physical American Silver Eagles underperformed the paper (futures) price, exactly the OPPOSITE has been true, to historic proportions !
.
Hey derryb, your trolls are loose. lol. Look at the personal attacks. Haha.
You should probably lay off the azurscens.
So lets do some math, shall we? ASEs were 25 and now 35 for a gain of 40%. Futures were at 15 and now 26 for a gain of 73%.
Yup, you got me. Lol
I love this place.
Knowledge is the enemy of fear
Let me know if your interested. I'll sell you all the ASEs you want for $34.99.
These people paying $35 an ounce for a ASE are in for a very rude awakening.
The whole worlds off its rocker, buy Gold™.