Anyone having anyluck buying Silver anywhere near normal prices??

Texast · October 16, 2008 5:06PM

I've been trying to get North West Territorial Mint to return a call or E-mail for a couple of days (trying to buy silver of course) no luck, is there anywhere to buy silver at a realistic price by the ounce (please don't say ebay) ...

Thanks....

Tim

dimples · October 16, 2008 9:46PM

Same here with NWT. Operator said they are terribly outnumbered. It's like Custers last stand.

mrmojorisin · October 16, 2008 11:00PM

i was able to buy 3 rolls of 90% silver at 7.7X face last week off ebay. course i needed to use the 30% rebate to get it to melt. but i was happy to get silver at melt finally!

C

rgCoinGuy · October 16, 2008 11:14PM

Like mentioned in a couple other threads, the teletrade direct deal on maple leafs at under $13.00 is the best I have achieved so far. The Cashback deal would be good on ebay, and its up to 12 times it can be used now, but I tried looking there yesterday and prices were so high on BIN's I didn't find any deals. I didn't look past the first couple pages though.

DorkGirl · October 17, 2008 1:11AM

There are a few rolls of ASEs right now on Ebay. I just bought a roll for $370 so with the cashback of $111, I'm getting them for $12.95 each.

CaptHenway · October 17, 2008 1:19AM

If you get the cashback.........

DorkGirl · October 17, 2008 1:22AM

<< If you get the cashback......... >>

See how you are.....

grip · October 17, 2008 6:57AM

Do they have them in stock/ready to ship?
Al

Coll3ctor · October 17, 2008 7:02AM

<< I've been trying to get North West Territorial Mint to return a call or E-mail for a couple of daysq]

I've been waiting since Sunday, still no call

NumbersUsacom · October 17, 2008 7:19AM

No not at all.

This patience thing is not feeling too good. What do you say we all stop buying
any physical until this huuumonnnnguuuus...... spread on the 100oz and down pieces narrow to
the historical norm.

If these were securities we would see the underlying price sky rocket until the froth was
knocked off. But the paper market in silver is not reflecting the public demand in the physical smaller
sized silver at all. Being it is mostly an industrial metal by the majority of sales, I guess it may make sense
to a degree, re; the disconnect.

MoneyLA · October 17, 2008 7:40AM

Several B&M dealers here in the Los Angeles area all tell me the same thing... they have NO physical silver to sell, in any quantities or in any sizes including rounds, small bars or even 100 ounce bars.

Premiums remain extraordinarily high and you must wait up to 12 weeks to have orders filled with major web sellers, and you must pay up front says companies such as Goldline in Santa Monica.

What is even worse is that the "silver premium" has now spread to platinum eagles. A week ago the premium on plat eagles was about 10% and now B&M dealers are quoting prices that show a premium of close to 40%.

Goldine will not sell plat eagles without cash up front, and funding an "account" up front, and they won't take orders for small quantities. As an "experiment," we called and asked if we could walk in and buy ONE one ounce plat eagle for a "gift" that we needed that same night. Their response was "we dont have any."

KollectorKing · October 17, 2008 9:01AM

I bought 10.5 rolls of 1964 Kennedies last week at 8.3 times face.

I bought a couple rolls of Frankies from a broad member at 10.5 face today.

I'm in the process of buying $500 face value of Walkers and Mercs at 9.5 times face value.

KK

fc · October 17, 2008 9:03AM

<< I bought 10.5 rolls of 1964 Kennedies last week at 8.3 times face.

I bought a couple rolls of Frankies from a broad member at 10.5 face today.

I'm in the process of buying $500 face value of Walkers and Mercs at 9.5 times face value.

KK >>

it just hurts to think a common mercury dime is only worth .67 cents :-|
those are exceptional markups... yet normal right now.

halfhunter · October 17, 2008 11:10AM

Just bought a couple of rolls of dimes on the Bay for 10X + delivery.

Roll #1

Roll # 2

Not a great deal but I was going into silver DTs & needed a fix!

Regards, John

cars · October 17, 2008 11:28AM

roadrunner · October 18, 2008 2:50AM

it just hurts to think a common mercury dime is only worth .67 cents

Please send me all the Mercs in the 1940's you have at 75c each. I'm even giving you a 12% profit margin. I can use about 10,000 pieces. Thanks.

roadrunner

fc · October 18, 2008 2:54AM

<< it just hurts to think a common mercury dime is only worth .67 cents

Please send me all the Mercs in the 1940's you have at 75c each. I'm even giving you a 12% profit margin. I can use about 10,000 pieces. Thanks.

roadrunner >>

if spot stays at 9-10 an ounce for the next months/year... you better believe that these premiums will start disappearing and many people
will be in the hole.

everyone says spot reflects the paper price but in reality it is the price
people buy at plus a tiny premium for 1000s and 1000s of ounces.
already the premium is shrinking on ebay. people who said they
bought small amounts slightly over spot is due to the fact the middle
man was paying less then melt from people selling it in a buyers market. things have changed but for how long?

it is easy to joke saying i want 1000s of dime at current melt + 12% because you know at this moment in time
you can sell them for a lock profit. Will people
still be saying that 6 months from now if spot stays stable?

i think not.

right now a few bucks over spot seems reasonable.. i think that will
quickly be seen as unreasonable once a few months pass AND spot stays stable 9-11 an Oz.

roadrunner · October 18, 2008 3:25AM

it is easy to joke saying i want 1000s of dime at current melt + 12% because you know at this moment in time you can sell them for a lock profit. Will people still be saying that 6 months from now if spot stays stable?

It's no joke. I'll buy 10,000 of them right now if you have them. It's not a "lock" profit because I'll be sitting on them for a lot longer than 6 months. So per your forecast, it's a "lock loss." In fact the silver I've accumulated since 2002 is all still with me. Physical silver is for insurance and for holding. If it's lower in 6 months it won't affect me in the least, because I know what it will eventually be at. How it gets there over the next several years really doesn't concern me.

roadrunner

RedTiger · October 18, 2008 3:30AM

<< No not at all.

This patience thing is not feeling too good. What do you say we all stop buying
any physical until this huuumonnnnguuuus...... spread on the 100oz and down pieces narrow to
the historical norm.
... >>

Patience is a good thing. The odds of these folks that are paying 30% to 50% premiums making money on their buys are extremely small. Even if the spot price rebounds, the premium as a percentage will likely shrink. If spot ever gets back up to $20, the premium will likely go negative as plenty of folks will want to dump, so $20 will serve as a ceiling. Someone paying $14 when spot is $9.30, has a lot of built in downside and only marginal upside. At $20 spot price minus auction fees, minus what will be a negative premium, might mean $17 or $18 realized if and when silver returns to $20.

I see the premium over spot vs. Ebay small lots as a sentiment indicator. As long as the punters with a couple of hundred extra dollars are paying up, the odds favor lower prices. The premiums started to ramp up when spot silver dipped to $14. Now spot price is below $10. At some point the tide will turn, but all those that bought at spot $14 plus a big premium, just a few weeks ago are down 30% to 60%, depending on the premium they paid and where they can sell.

Given my point of view that the spread between spot and Ebay small lots is a sentiment indicator, when that spread returns to more normal levels, it will be a much safer time to buy silver. It may not call the low on the spot price, but that isn't that important. The absolute bottom in price is rarely a low risk time to buy. Much better to have a contained downside and buy after a bottom has been established.

When the big premiums started up, I wrote that this is classic "dumb" money paying these big prices. I still think so. I still think odds favor lower prices as long as these big premiums exist. Others are welcome to other opinions.

7over8 · October 18, 2008 5:13AM

Go ahead and take paper contracts down to 2 bucks per oz.....who cares

Physical will still trade for $16-$18

Overdate · October 18, 2008 6:52AM

if spot stays at 9-10 an ounce for the next months/year... you better believe that these premiums will start disappearing and many people will be in the hole.

I think it's more likely that the premiums will start disappearing when the spot price rises to meet the physical price.

fc · October 18, 2008 7:28AM

<< if spot stays at 9-10 an ounce for the next months/year... you better believe that these premiums will start disappearing and many people will be in the hole.

I think it's more likely that the premiums will start disappearing when the spot price rises to meet the physical price. >>

and this bullishness needs to be beaten out of the market by having
prices go down for months/years. being optimistic will not help ;-)

but what do i know? your guess is as good as mine.

Anyone having anyluck buying Silver anywhere near normal prices??

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