swapping some of my generic 100 oz. bars for Eagles
Norseman88
Posts: 962
I have decided to swap out some generic 100 oz. Silver bars for 3 sealed 2009 green monster boxes.
Not that long ago Silver eagles were selling for nearly $6 over spot, now I can get green monster boxes for $1.99 over spot at the local dealer. Let me explain what I did a few months back I traded in some 90% bags of Rossevelt dimes and kennedy halves for generic 100 oz. bars as at the time I could actually accumulate roughly 10% free .999 Silver. At the time I did this Silver eagles were out of the question as the premiums hit huge levels but the generic bars were selling for $1.50 over spot so I traded into them now as premiums have fallen I figured the gap has narrowed enough to make the swap into more Eagles. Of course I'm only getting spot for the generics but the spread is now only $1.99 instead of $4.50 and I'm into the generics for around $11 so I'm still turning a profit on them in trade.
I'm curious what other think about swapping generic bars into Eagles and Maples now that the spreads are so close.
, by the way I could've traded into some sealed Maple monster boxes at 10 cents less than the Eagles so maybe when I trade some more generics off I will get a couple of Maple boxes.
I must add that when I swapped my 90% Silver for the generic bars that 90% was trading at a huge premium to spot which is quite unusual that's why I was able to get an additional 10% in free Silver.
Not that long ago Silver eagles were selling for nearly $6 over spot, now I can get green monster boxes for $1.99 over spot at the local dealer. Let me explain what I did a few months back I traded in some 90% bags of Rossevelt dimes and kennedy halves for generic 100 oz. bars as at the time I could actually accumulate roughly 10% free .999 Silver. At the time I did this Silver eagles were out of the question as the premiums hit huge levels but the generic bars were selling for $1.50 over spot so I traded into them now as premiums have fallen I figured the gap has narrowed enough to make the swap into more Eagles. Of course I'm only getting spot for the generics but the spread is now only $1.99 instead of $4.50 and I'm into the generics for around $11 so I'm still turning a profit on them in trade.
I'm curious what other think about swapping generic bars into Eagles and Maples now that the spreads are so close.
, by the way I could've traded into some sealed Maple monster boxes at 10 cents less than the Eagles so maybe when I trade some more generics off I will get a couple of Maple boxes.
I must add that when I swapped my 90% Silver for the generic bars that 90% was trading at a huge premium to spot which is quite unusual that's why I was able to get an additional 10% in free Silver.
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Comments
--Severian the Lame
your 100 oz bar for three green boxes of eagles (which contain 500 oz in each box)
<< <i>did I read this correctly:
your 100 oz bar for three green boxes of eagles (which contain 500 oz in each box) >>
<< <i>I have decided to swap out some generic 100 oz. Silver bars for 3 sealed 2009 green monster boxes.
>>
<< <i>did I read this correctly:
your 100 oz bar for three green boxes of eagles (which contain 500 oz in each box) >>
I wish what I swapped for now was 9-100 oz. generic Silver bars on 3 green monster boxes of Eagles, so I'm trading 900 ounces of generic bars on 1,500 Eagles. Of course I'll have to pay the difference in cash, the reason I'm trading only 9 of my 24 generic bars is the 1099 rule on sales and trades which states if you sell or trade 1,000 ounces or more you get a 1099.
Another reason I'm trading is I really dislike the design of my generic bars as they are rather crude in appearance and Eagles are quite attractive along with being much easier to dispose of should the price of Silver rise like I think it will.
Does anyone have an opinion on picking up some sealed boxes of Maples vs. Eagles the next time I trade???
Does anyone have an opinion on picking up some sealed boxes of Maples vs. Eagles the next time I trade???
I personally find the Maples to be very boring and plain so I would opt for the Eagles.
Nice score on the Monster boxes!!!
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
Personally, I'd rather just have the 100 oz'ers as they're easy to hide / transport.
<< <i>You must have a _BIG safe to want to store that many Monster Boxes !!
Personally, I'd rather just have the 100 oz'ers as they're easy to hide / transport. >>
Why not some of each? Diversify!
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire