Silver - what are you buying?
derryb
Posts: 36,823 ✭✭✭✭✭
Those looking to buy quality silver bullion are surely asking "what should I buy, what are the best deals?" For years I recommended (and bought) silver eagles and 10 oz. Royal Canadian bars. Premiums on both have skyrocked and are providing good returns for those now selling.
However, there are many of us that are still buyers; what should we buy? ASE and RCM bar premiums knock them right out of the saddle in today's market. I'm buying silver philharmonics and Asahi 10 oz. bars. What non-generic .999 are you finding a good deal on?
"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
2
Comments
I'm holding for now. Even after a splunge like today, the premiums are still too much for me to keep adding. I suppose 90% would be my preference if I had to scratch the itch.
Click on this link to see my ebay listings.
Not going after good stacking deals, I am just buying stuff that I like...
Like this "Fractal" 2oz Silver from Intaglio Mint @ $50 an Oz
Or this Daniel Carr latest - Ultra High Relief 1oz silver @ $80 per Oz
Or this Obverse COPY stamped flowing hair silver Dollar from Gallery Mint (now Landis Studios) ASW: 0.77144 troy ounce for $50
I pay the premium now not in hope that I will recoupe these dollars upon re-sale, but that I may have the pleasure of enjoying them in the Present.
Plus these are three places I dont mind showing my support for - with my wallet.
Cheers
It's all about what the people want...
The last time I bought silver bullion was a year ago when I bought some .999 buffalo rounds. I was never a fan of generic rounds but the premiums gave me pause. One justification is that if & when the price of silver goes parabolic, the premiums will dissolve anyway, so generic rounds will incur less of a diminishing premium. We shall see. I've been wrong before.
I knew it would happen.
My recent Roll buys in the last two years, now few and far between (premiums too high now):
For me, mostly modest sized lots of circulated 90% U.S. junk from individuals. But not so much at the 22x FV level that seems to be the very recent going rate for such transactions with spot around $25. I would agree the Philharmonics (and Australian kangaroos) are probably the best deals in government .999 as long as you can find reasonable buyers when you eventually sell. With 90%, lots of people just waiting to pounce on a decent deal, and no need to worry about carefully handling the inventory or explaining to prospective buyer that some may have milk spots, etc.
I love that rat! He looks MEAN!
My YouTube Channel
I am finding the dealers around me are treating Philharmonics the same as silver rounds. Paying about $2 back of spot and selling for $2 or $3 over spot depending on how many you buy. Premiums on ASE are running $8 to $15 over spot depending on the time of day and the attitude of the selling shop. They are buying ASE at about $5 over spot so they aren't buying all that many as far as I can tell.
I'm still buying 90% and getting some back of melt so that's not bad. I'm not selling any of that so don't have a feel for buyers rates but it must be hard back of melt.
Most customers prefer bullion rounds. Been ordering more generic ten oz and 100 oz bars, of late.
Gotta keep a few joeys on hand, too.
Where the eagles fly
SLV as a trading vehicle to allow me to buy more coins.
Yep SLV all the way if you must play in the gutter. RGDS!
The whole worlds off its rocker, buy Gold™.
Who has possession of SLV's silver? Does anyone or is it just a promise? Is it leveraged or loaned out or even borrowed? How many parties actually have a claim to it? Can you convert your promise to physical metal? Can the fund fail in a nickel-like crisis? While paper PMs can offer great short term trading opportunity, they are far from risk free when it comes to intermediate and long term dollar protection. Like the paper dollar, paper promises can slowly disappear. The smart move is to convert the short term profits to long term physical; has worked well for me.
I like to keep my gutters on my house not on someone else's. They divert dollar risk away from me.
"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 just got a kilo bar today just because I was bored and there is nothing much else that is calling my name. My son picked up the package for me. I told him to open it and send a picture. He sent the picture and replied back to him "it's suppose to GOLD!" He didn't think it was funny
. Of course he quickly realized that I might be crazy but not $64,000 crazy.
Last buy for me was January
I have not been buying silver - other than a couple of Mint issues last year.. and those premiums will only be recouped if the collector interest remains or spikes. I did stack ASE's for quite a while, but stopped around 2006.... Cheers, RickO
I still like unc pre 33 10's and 20's in OGH at less than 15% premium to spot.
Getting harder to find.
Silver sure has taken a smackdown the past couple days... I wish the premiums would subside a bit.
Click on this link to see my ebay listings.
premiums rose in the face of the decline at least trying to buy in person I see that. Its still 23x face in spite of a $1.50 drop
As a seller I find it refreshing to have a little pricing power . Ya buddy I know its down but I'm not dropping my price , you don't have to buy if you don't want to. try again next week
Buyers and sellers like opposite sides of the ratchet effect. Buyers think spot is down buy prices should come down. Sellers think spot is up sell price is going up.
Premiums sure don't seem to be dropping much... but with the spot drop the last couple of days, does give a little opportunity.
The morgan dollar effect applies to world crowns . I put a row of german 19'oughts funf marks in my booth for 50 bucks each. Mostly bavaria and prussia they are circs so it feels like a reach but we shall see
Ive noticed buyers balk at 23x for 90% but then pay 36x for BU franklins . I normally wouldnt think they would sell now but oddly enough they are.
I’m not buying bullion products at this time. Did find these quarters today at the flea Mkt for 600.00. The 1964 halves were $10 each. I can be a buyer like that.
I would like to buy 80% silver
1 rand or aussie round 50s but you never see that stuff .
I would like to buy 80% silver
1 rand or aussie round 50s
But, why? Are the margins that good?
I knew it would happen.
No i just like them
I dont think they are available in quantity anywhere
1966 round 50c Are a super popular 1 year issue in Australia and very liquid.
At 80% Silver and 20% copper they contain about 1/3 of an Oz of Actual silver weight.
Also the Pre-Decimal coins that are .925 Sterling, the Florin is similar that 3 of them make a full Oz.
You could find a dealer in OZ and buy tons of this like 90% over here
It's all about what the people want...
I need to check back into the aussie silver stacker forum .
Shipping to australia is brutal i suppose its not as bad from there if the dollar is still holding up
It’s been hard to pull the trigger at these prices. Went to LCS in February and he had a roll and half of uncirculated 1986 Engelhard prospector rounds and 2 rolls of G-VG SLQ at 21x so I bought them. Gotta feed the addiction a little.
MIKE B.
Thats a great price on the slq take all he has
That’s what I did but since Feb it’s been edging up. Same Junk today is $24
MIKE B.
I'm holding as well. If silver goes down then I'll add
I just had a registered USPS box of 25lbs of 90% delivered. I'll see them Monday when I get back into town. All rolled in 1955-64. I have to contain myself until I can see what is in the rolls. I know the guy who rolled them and put them away 50+ yrs ago.
That’s the way to do it !
I am buying very little at these prices. Mostly small purchases of hand picked 90%, and nice looking “cull” silver dollars.
Bars, bars and more bars.
I'm still buying gold. No gutter. THKS!!!
The whole worlds off its rocker, buy Gold™.
Philharmonics
Any good silver deal, mostly gold, but not so much that I don't earn elsewhere.
Rare Coins are failing to tow the $200 to $1500 line.
There's no demand pull look for nice stuff to become a bargain or languish in dealer cases.
This ought get it going here
I got a few bricks in the other day @ 3x or 4x spot.
I consider any silver bars, coins, bullion for purchase that have a reasonable price (lowest premium above melt). Unfortunately that means I haven't been buying much silver lately, as premiums are more than I can feel good about.
It would seem that gold would be a more reasonable purchase to me.
I agree the ASE's premiums are insane. What's even crazier are the premiums on cull common Morgans. I'm selling these are replacing with generic silver rounds or a Canadian, Australian 1 oz when I get them under $28.
The only things I have been buying are silver coins with a design I like in ones or twos. As far as stacking bars and rounds. I haven't purchased any ASE in a couple of years and haven't got a clue who is buying them.
Uncirculated fine bullion. If it ain't fine it ain't mine.
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
I picked up one of these guys
I have been buying the Pamp Suisse 10 OZ.
More. A vague answer to the question.
I've been trying to concentrate on bullion. I just bought a 1 kilo bar of silver for less than $24 an ounce. waiting for it to be delivered.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
I just bought a 1 kilo bar of silver for less than $24 an ounce. waiting for it to be delivered.
Considering recent premiums, I'd say that you got a reasonably good deal.
I knew it would happen.
I picked this up recently but cant remember what I paid for it but it came from the maker. I am sure it was full retail but does it really matter? Looks nice. If i remember the name of the Art bar artist I will post it. Cant remember how much silver it is cause its listed on the back but I dont have a picture of the reverse.
The other is from a melter by the name of Ragnarok out of texas.
Besides buying generic sheets of silver bars and tubes of rounds I picked up the stuff in the picture.