For the Engelhard Lovers
vpr
Posts: 606 ✭✭✭
Picked up 33 10 oz bars yesterday. 2 wide machined bars with consecutive serials, 3 loaf bars with consecutive serials and 1 low serial (003686) W series bar.
References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Somebody has been busy, and probably having fun!
Congratulations, you picked up a real nice haul of premium bars.
Did you purchase these through a dealer or did you get lucky on a private sale?
JC
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
<< <i>Very impressive! Nice mix of Engelhard bars too.
Somebody has been busy, and probably having fun!
Congratulations, you picked up a real nice haul of premium bars.
Did you purchase these through a dealer or did you get lucky on a private sale?
JC >>
Thank you. It wasn't fun handing over that kind of cash. Through a local dealer who doesn't hedge and wanted to get out. The offer was $3 over spot if I take the entire lot. I wasn't looking to spend that kind of dough, but I thought it was a terrific deal.
Nice pick up!!!!!
Nice bars!
It's all about what the people want...
<< <i>The offer was $3 over spot if I take the entire lot. I wasn't looking to spend that kind of dough, but I thought it was a terrific deal. >>
Yeah, I'd say so, for Engelhard bars. But I definitely hear you on dropping nearly eight grand too.
Maybe you could sweeten it for yourself by selling off a bakers dozen or so on eBay for a decent premium over what you paid.
A small dealer not being hedged isn't too surprising, but the fact that the dealer wanted out completely is a bit surprising.
Granted, the trend is /has been lower for PM's but it feels like we're right about to pass that point were the downside risk starts to become much more limited.
Can it go lower, sure it can, but bearish sentiment aside, it's not like it's going to zero, and in this economic environment I can't imagine it remaining depressed for a lengthy period of time.
Whether you end up holding all of them, selling some of them or even selling all of them, I really think you did good for yourself on this purchase.
Thanks for sharing the pictures and the details of the purchase.
JC
Charles III Album
Charles III Portrait Set
Charles IV Album
Charles IV Portrait Set
Spanish Colonial Pillar Set
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
JC - I initially bought thinking I would flip most of them, but I think I will just hang on to them for now. It doesn't look like the premium on these bars will drop, so might as well wait for silver to go up. I'm not a fan of the big E bars and those are the only ones I would consider selling. After fees, I might only break even on those, selling on Ebay so might as well just keep them for now.
My YouTube Channel
<< <i>
Thank you. It wasn't fun handing over that kind of cash. Through a local dealer who doesn't hedge and wanted to get out. The offer was $3 over spot if I take the entire lot. I wasn't looking to spend that kind of dough, but I thought it was a terrific deal. >>
Could you explain the hedging theory? Someone tried to explain it to me the other day, but they weren't sure either. Is it for every say 1,000 ozt in silver physical they have a equal amount on paper, also how does it benefit the hedger if say silver spot goes down? Are they allowed to essentially get the locked in long or short price for their physical silver?
Thanks and very very nice pickup
Check out:
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or just type in JGnumismatics into google
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References: USMarine6,Commoncents05,Timbuk3, lunytune2,Goldcoin98, and many more
I thought you were saving up for a 1907 high relief?
By the way, do you have any of the 1924's left or did you sell them all?
<< <i>Nice purchase!
I thought you were saving up for a 1907 high relief?
By the way, do you have any of the 1924's left or did you sell them all? >>
I wasn't considering the 1907 HR back in 2013. : )
<< <i>
<< <i>
Thank you. It wasn't fun handing over that kind of cash. Through a local dealer who doesn't hedge and wanted to get out. The offer was $3 over spot if I take the entire lot. I wasn't looking to spend that kind of dough, but I thought it was a terrific deal. >>
Could you explain the hedging theory? Someone tried to explain it to me the other day, but they weren't sure either. Is it for every say 1,000 ozt in silver physical they have a equal amount on paper, also how does it benefit the hedger if say silver spot goes down? Are they allowed to essentially get the locked in long or short price for their physical silver?
Thanks and very very nice pickup >>
You want to lock in your premium. You're probably paying spot for things you can sell for say spot + $3 and you don't want the risk (or upside) from spot moving, so you sell paper short. Regardless of where spot goes, you can be sure to make $3 per oz (assuming premiums don't move).
It's always the right time to buy silver.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>It's always the right time to buy silver. >>
This thread is from Nov 27, 2013. Anyone know what the spot price of silver was then? That should tell you if it was the right time to buy.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire