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BearlyHere
Posts: 261 ✭✭✭✭
After silver stacking for ~6 months, I'm finding that Monument Metals is almost always around $1 less for generic rounds. I check multiple sites (SilverGold Bull, Hero Bullion, etc...), but MM seems consistently lower. Personally, I'd like to use Hero because they are local to DFW. But an extra buck a piece is not worth it.
Anyone else out there got a better deal?
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silver deals
Give Me Liberty or Give Me Debt
Thanks. Although they have the correct price for MM today, I've found sometimes https://findbullionprices.com doesn't reflect items on sale there.
Keep those ideas coming please.
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monument has Nadir Kilo's on sale 1.99 over spot free shipping
i am dyslexia of borg futility is resistant your ass will be laminated.
https://forums.collectors.com/discussion/1092898/state-quarter-silver-proof-cheaper-than-junk-silver#latest
snagged a box of these last week at $26.65 a coin:
Give Me Liberty or Give Me Debt
Picked up a sealed monster box of silver American eagles for spot + $5.
Seller did not take spot plus $6, 6 months ago when he would have made $2k more.
Lots of low premium silver out there, but how large is the pool of buyers when you go to sell?
Give Me Liberty or Give Me Debt
Always a risk in finding a counter-party.
Knowledge is the enemy of fear
no risk being a first party?
Give Me Liberty or Give Me Debt
crap, I agree with coho.
But wait, you still have to consider the relative risk in bullion is less than that in the financial system, at this time.
It's all relative.
I knew it would happen.
A lot easier finding counter-points. A lot cheaper, too.
The point is not about finding a counter party, it is about finding a buyer for low end products. There's a reason silver eagles demand more premium and that reason is the reason for choosing products that attract more buyers when it is time to sell.
Give Me Liberty or Give Me Debt
ASEs only "demand more premium" when you are buying them. You've been stuck in them for decades. THKS!
The whole worlds off its rocker, buy Gold™.
I'm selling them for more premium and as usual you don't know sheet about someone else's trades. Hell, you can't even control your own trades or you would not always be crying about your misfortune with the glitter metal. Suck it up buttercup, not everyone is a loser with silver. Some of us are doing just fine.
Quit being jealous of those who do know how trade metals.
Give Me Liberty or Give Me Debt
One ounce Philharmonics $525 per roll. $26.25 each. Who wants ?
LOL good one ace. Stack on! THKS!
The whole worlds off its rocker, buy Gold™.
Just a thought...in 1980 when silver was ~$50, there was no premium paid. Even the numismatic silver all sold for the same price.
https://www.youtube.com/watch?v=aC3UuxE23Lw
Look at this:
Went to LCS Thursday and he was $19.50 x $1 for half’s. I wanted gold but he only had $5 Comm for Spot plus 3%. I bought two for $475 each. Not my favorite but still .4837 Troy Ounce. He also had 4 1/10 ounce at $220 each but to small.
Mike
MIKE B.
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If people are quoting you Silver Eagle prices that have very high premiums when you want to buy, and little or no premiums when you want to sell, then they must really hate you
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Nobodys quoting me anything. I buy the SLV. Zero premium gutter. THKS!
The whole worlds off its rocker, buy Gold™.
SLV is all premium. there is no metal with underlying intrinsic value. it is a promise. investing in such promises will only lead to disappointment and eventually calling it "gutter paper."
Give Me Liberty or Give Me Debt
Or "gutted paper".
The problem with SLV (other than it's all paper and no asset) is that the separation between cost and value continues to grow because the fund withdraws its fees from the value. Over time the gap is widening and continues to widen.
Just a thought Derry, In 1980 when silver skyrocketed to $50/oz. there were no premiums paid. Everybody got $50/oz regardless of what they sold. Everything was considered melt only.
In 1980, $50 silver was a momentary blip on the futures chart. Sellers lined up around the block at my local coin shop as the price was rising and the coin shop's "buy" offers depended on their need for more inventory, day to day.
There has always been a buy-sell spread on gold & silver, and that spread could be considered partly premium. Depending on the coin shop's position and the market's movements, that spread both widened and lessened on a daily basis.
Premiums are just another component of the buy-sell spread, no matter how you slice it.
I knew it would happen.
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The annual fee is about 11 cents per share at current price. If a dealer drops their buy premium price drops by $1 then that's 9 years of SLV fees.
Another example of folk focusing on small stuff.
Knowledge is the enemy of fear
I was there in 1980, standing in line at the coin shops to sell silver. On the day that "spot" price hit $46, I took my 1960-1964 proof sets to sell (all 8 of them). I checked around a few places and the best I could get was 21 times face value. Those proof sets were the only silver I had that wasn't worth more than 21 times face. It seems everyone knew the spike to $50 was artificial and so the premiums were steeply negative. I saw NOBODY going to the coin shops to buy at that time - the only real buyer at that price was the Hunt Brothers and everything was headed from the coin shops to the smelters to make COMEX bars to deliver to the Hunts.
Over the years after that, when the price was a lot lower, I bought a little 90% coin here and there. The lowest post-1980 price that I was ever able to buy 90% silver coin was 2.5 times face value. Today, 90% "junk" silver is pretty close to where it was back in 1980.
SLV fees are 0.5% of the value, per share, per year.
SLV is a terrible way to hold silver long-term. It would be like if you put some physical silver away for about 20 years, only to find out that 10% of it had evaporated during that time.
And if the price of silver were to double, the basic cost of holding SLV per year would also double.
Yup....about 11 cents at today's price.
You make a big deal of 11c while premiums fluctuate by dollars? Lol
Imagine buying physical at $10 premium to spot only to find out that your dealer is only paying a $6 premium. That's more than a 10% evaporation and it happens almost instantaneously.
And the premium you initially paid on physical collapses. How much was that holding cost?
How much does that safe cost to hold your physical?
How much does that rider cost on your homeowners insurance?
How much is shipping?
How much time involved in finding the highest buyer?
Were you able to create an income stream off your physical?
Wow, eleven cents is a big deal. SMH!!
Knowledge is the enemy of fear
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You will NEVER get ANY premium when selling SLV. It will always have a negative premium, which becomes more and more negative over the years.
Premiums on coins and bars fluctuate, but they can go up, sometimes by a lot on certain items.
There is no "income stream" with SLV.
With SLV you are guaranteed to lose half a percent of value per year, every year, even if you are just holding a position and not buying or selling.
It doesn't cost much to bury something in your back yard, or go to a coin show to do transactions.
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If you are willing to cap (quite modestly) your potential gain over some fixed period, you can generate an income stream with SLV, in excess of the SLV maintenance fee.
In current market conditions, if you buy SLV and cap your 6 month gains to 30 % by selling calls (covered, of course), you would net roughly 2 % annually, after deducting the maintenance fee.
And physical can trade at a discount and one an lose all premium they paid.
And premium can go down. In fact, it drops as soon as you hand over your "worthless" dollars.
See next comment. There are other strategies that can be used as well.
OMG. 1/2 of 1%. Oh the humanity!!
So your silver in your backyard?Interesting. Haha
You've made very feeble points.
Knowledge is the enemy of fear
So dcarr says one would lose 10% over a 20 year period. SLV has only been around for about 17 years, but if one had bought at inception price and sold calls netting 2% every year how much would they have received in premiums over that 17 year span? (Assuming it never got called away and that the extrinsic value remained constant--at today's level--which is about average.
Knowledge is the enemy of fear
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Anyone can look backwards and point to investment strategies that worked in the past.
Selling calls is not without some risk. What happens if prevailing interest rates change significantly ?
If you want to earn 2%, you should buy bonds.
And you don't have to own SLV to sell calls. You could own physical silver (or not) and sell calls. (But you have to have a large amount of money in a reserve margin account before most brokers would let you sell naked calls).
If a person wants to own silver as an alternative "off the grid" asset, buying a paper substitute defeats the main purpose of owning silver in the first place. For the most part, you can't even exchange your SLV shares for physical silver. And the 1/2% per year evaporation of SLV is not a trivial loss if a lot of ounces are involved.
So there is no point to own SLV for any reason other than a short-term speculative trading instrument. And you could do that with futures contracts instead.
A MUCH better approach is to buy coins and bars that you like and can hold in your hand. Buying a little bit of physical silver here and there (over a span of time) is a way to diversify your money in smaller increments. Trading SLV or other paper assets requires a lot of money up front to start with.
Having interesting coins and bars is a lot more fun than having some piece of paper with promises printed on it.
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@dcarr commented “If you want to earn 2%, you should buy bonds.”
To clarify: the approach I outlined does not produce a 2 percent return, it produces a return that exceeds the return on a straight silver investment by 2 percent, with the proviso that should silver returns over a six month period exceed 30 percent, my return will be capped at 30. I think this is a plausible approach to dealing with the concerns over SLV fees that have been expressed by some participants here.
Those that divert funds to PMs do so knowing there are better returns elsewhere. I believe the removal of third party risk that PMs offer is why they attract buyers. For me? It's always about dollar insurance and inflation protection. Every portfolio should hold insurance.
Give Me Liberty or Give Me Debt
Latest deal, four purchases from the same ebay seller after a little bargaining. Twelve 10 oz RCM bars at an average of $1.65 per oz over the then current $25 spot. Next day spot drops to $24.
Give Me Liberty or Give Me Debt
That's why they call it life in the gutter. Your always in the hole. THKS!
The whole worlds off its rocker, buy Gold™.
i do believe you are the only one that knows about holes and gutters.
Give Me Liberty or Give Me Debt
You seem totally obsessed with the "gutter". Is that where you live ? It beckons you to crawl in it, again and again. Can't go a day without it.
https://bullionexchanges.com/roll-of-20-1-oz-asahi-buffalo-design-proof-silver-round
2023 Britannia Type 2 $23.36
https://www.jmbullion.com/2023-1-oz-british-silver-britannia-coin-king-charles-obverse/
24.64
https://monumentmetals.com/monument-metals-iwo-jima-silver-round-1.html
10 oz silver bar at spot!
https://silvergoldbull.com/10-oz-silver-bars