picked up some neat Silver bullion today
Norseman88
Posts: 962
I was at one of the local B&M's today to complete a swap of 30 ounces palladium for 28 BU tubes or 560 coins of 2000, 2001, 2002 and 2003 Silver eagles when I asked the usual question do you have any interesting bars. the guy who usually helps me out went in the back room and came out with a small canvas bag and I immediately knew that it was a Homestake mines bar this one a 100.79 oz. bar from 1986 which i bought for 35 cents over spot or $1,768, I also bought an old poured 10 oz. Engelhard bar with really neat flowlines for $ $185.
When I was done I saw a group of PCGS-OGH new Orleans Eagles from which I purchased an 1881-0 in XF-45 which is crusty with lots of flashy luster under the dirty fields for $840, I think this coin is at least an AU-50 or 53 if resubmitted and has a small mintage of 8,350.
When I was done I saw a group of PCGS-OGH new Orleans Eagles from which I purchased an 1881-0 in XF-45 which is crusty with lots of flashy luster under the dirty fields for $840, I think this coin is at least an AU-50 or 53 if resubmitted and has a small mintage of 8,350.
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Comments
--Severian the Lame
<< <i>Just curious, why are you swapping palladium for silver? >>
Cause I still have 185 ounces and my cost basis is around $210 actually less now since I got $361 in swap for 3-10 oz. bars and palladium is so darn volatile. APMEX is selling bu tubes of these older Silver Eagles anywhere from $3.49 over spot all the way to $5.99 over on older tubes and I got them for $2.10 over spot. I guess with the shortage of Silver Eagles premiums are jumping again so I figured get some more Eagles at a good price plus I think long term Silver has more potential than Palladium unless of course cold fusion and fuel cell technology becomes reality and is readily used then palladium would blow Silver, Gold and Platinum out of the water.
<< <i>Wow! That is a ton of palladium! >>
I know I started buying it years ago after it plummetted from over $1,000, most of it bought around $200 give or take.
I do think that Palladium has tremendous potential long term just like Silver does, I'm not as high on Gold but do realize that it still is the store of value for wealthy investors and central banks so until that changes if it ever does Silver and the PGM's will take a back seat to it.
I'm going to start buying palladium in 2010 and was wondering what you collect and why. Canadian Palladium Maple Leafs, 1 oz Pamp or something else??? Thanks, Tim
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<< <i>Hey Norseman,
I'm going to start buying palladium in 2010 and was wondering what you collect and why. Canadian Palladium Maple Leafs, 1 oz Pamp or something else??? Thanks, Tim >>
The bulk of my stash is 10 oz. Credit Suisse bars along with a couple JM bars, I do however have a few Bermuda 1987 sea venture coins, several 1 oz. pamp and credit suisse bars, some Stillwater Palladium buffalo coins with Lewis & Clark including a neat 1/10 oz. coin, an Engelhard 1 oz. bar, Stillwater 1 oz. bar some Russian coins and Panda's so alittle bit of everything.
Sometimes it is virtually impossible to find Palladium locally and even nationally it is hard to get at times. Look up the annual production numbers and you will see how rare Palladium really is compared to Gold and Silver, it's nearly as rare as Platinum at a fraction of the price.
Oh yeah I forgot that I have Palladium maple leafs from 2005, 2006, 2007 and 2008 roughly 6-7 coins can't remember for sure and they are in the safety deposit box.