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So, is monex good to buy a couple hundred $ worth of silver from?

MrSpudMrSpud Posts: 4,499 ✭✭✭
in Precious Metals
It is hard to find actual physical silver being sold anywhere near melt value. I was looking at the Monex website and I'm a bit confused. When you click on their price link it basically shows the melt value range. Does this mean they are selling for close to melt value? Also, when you click on their How to Buy link it basically just says to call them on the phone. I don't want to subject myself to a solicitation sales pitch so I don't want to just call them for information. I just want to know if Monex is a good place to buy a couple of hundred dollars worth of silver at reasonably close to the current melt value. Does anybody know? Thanks.

Comments

  • DorkGirlDorkGirl Posts: 9,994 ✭✭✭
    I was checking them out the other day....if I remember correctly, minimum purchase is $5000. I'm not in the market for that much silver at this time...imageimage
    Becky
  • fcfc Posts: 12,793 ✭✭✭
    the way they did their website turned me off and i have never gone
    back.

    i do not want to call and get the pitch either.
  • gecko109gecko109 Posts: 8,231 ✭
    I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb.
  • BigRedBigRed Posts: 716
    But they seem like such nice people on TV.image
  • MrSpudMrSpud Posts: 4,499 ✭✭✭
    Thanks, so I guess there is no easy way to just buy a couple hundred dollars worth at a little over spot. I guess I'll stick to finding junk silver at the local coin shows.
  • ManorcourtmanManorcourtman Posts: 8,010 ✭✭✭✭✭


    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>



    You are a trusting Soul to give 'em your $$ and faith for that long!!
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>



    You are a trusting Soul to give 'em your $$ and faith for that long!! >>




    They are a large, well known company. Plus, the benefit is that I "control" the silver up until the point of delivery. In other words, I may liquidate the entire order anytime before it ships at the prevailing rate (they buy back at spot). Its basically like a 3 month silver mini contract.
  • Coll3ctorColl3ctor Posts: 3,333 ✭✭✭


    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>





    Man... that's just plain nuts to have to wait that long. They need to hire on more help.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>





    Man... that's just plain nuts to have to wait that long. They need to hire on more help. >>




    You know whats REALLY just plain nuts? Paying $15 for an ounce of silver when spot is $10.image
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>

    << <i>

    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>





    Man... that's just plain nuts to have to wait that long. They need to hire on more help. >>




    You know whats REALLY just plain nuts? Paying $15 for an ounce of silver when spot is $10.image >>




    It might be, if the spot price was the real physical metal price.

    However it's not.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Man... that's just plain nuts to have to wait that long. They need to hire on more help. >>




    Help isn't the issue, the lack of physical silver is.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>

    << <i>

    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>





    Man... that's just plain nuts to have to wait that long. They need to hire on more help. >>




    You know whats REALLY just plain nuts? Paying $15 for an ounce of silver when spot is $10.image >>




    It might be, if the spot price was the real physical metal price.

    However it's not. >>





    Plenty of forumites pay $15/oz every day. I bought mine at just $10.85. You tell me where the SMART money is in that equation!
  • fcfc Posts: 12,793 ✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>

    << <i>I just ordered 185 ounces from NWT at about $1.25 over spot. The catch is that delivery is in early Feb. >>





    Man... that's just plain nuts to have to wait that long. They need to hire on more help. >>




    You know whats REALLY just plain nuts? Paying $15 for an ounce of silver when spot is $10.image >>




    It might be, if the spot price was the real physical metal price.

    However it's not. >>





    Plenty of forumites pay $15/oz every day. I bought mine at just $10.85. You tell me where the SMART money is in that equation! >>




    gecko.. you are trying to fight against a forum full of goldbugs. dont
    even bother. if they cannot explain it, it must be a conspiracy by the
    MAN to keep a brother down.

    I agree with your purchase and think it was wise if you do not mind
    waiting. NWT is not going anywhere.
  • Coll3ctorColl3ctor Posts: 3,333 ✭✭✭


    << <i>

    << <i>Man... that's just plain nuts to have to wait that long. They need to hire on more help. >>




    Help isn't the issue, the lack of physical silver is. >>





    Help as to mine the silver from the earth image
  • Coll3ctorColl3ctor Posts: 3,333 ✭✭✭
    "You know whats REALLY just plain nuts? Paying $15 for an ounce of silver when spot is $10"



    You can find plenty of silver for well under $15.00 an ounce. 3 weeks ago I bought 1,000 maple leafs for just under $13.00 shipped at Teletrade. eBay also has plenty in the $12.00 - $13.00 range if you use the cashback offer.
  • fcfc Posts: 12,793 ✭✭✭


    << <i>"You know whats REALLY just plain nuts? Paying $15 for an ounce of silver when spot is $10"



    You can find plenty of silver for well under $15.00 an ounce. 3 weeks ago I bought 1,000 maple leafs for just under $13.00 shipped at Teletrade. eBay also has plenty in the $12.00 - $13.00 range if you use the cashback offer. >>



    that was a good pickup at teletrade. i did the same also.
    too bad they took everything offline for a bit and repriced them upwards.

    it truly appears teletrade is no longer the place to go to pay a slightly
    higher premium for a faster delivery date.

    Unless of course spot drops by two bucks ;-)
  • Coll3ctorColl3ctor Posts: 3,333 ✭✭✭
    "that was a good pickup at teletrade. i did the same also.
    too bad they took everything offline for a bit and repriced them upwards.

    it truly appears teletrade is no longer the place to go to pay a slightly
    higher premium for a faster delivery date.

    Unless of course spot drops by two bucks ;-)"



    I wish I would have bought another 2 thousand more as I flipped 975 of them in several days on eBay for a net profit of over $2.50 an ounce image If I would have received them a week or two sooner I would have made around $4.00 an ounce net profit as I'm sure you did image
  • fcfc Posts: 12,793 ✭✭✭


    << <i>"that was a good pickup at teletrade. i did the same also.
    too bad they took everything offline for a bit and repriced them upwards.

    it truly appears teletrade is no longer the place to go to pay a slightly
    higher premium for a faster delivery date.

    Unless of course spot drops by two bucks ;-)"



    I wish I would have bought another 2 thousand more as I flipped 975 of them in several days on eBay for a net profit of over $2.50 an ounce image If I would have received them a week or two sooner I would have made around $4.00 an ounce net profit as I'm sure you did image >>



    excellent move! now that is what I call investing in silver!
    holding is for chumps ;-)
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