Ever see ads for silver under spot?
topstuf
Posts: 14,803 ✭✭✭✭✭
Delayed delivery discounts ONLY work IF silver drops in price during the delay period.
If it drops, that's when they buy and ship.
Some years back a place did this in huge volume.
As silver refused to drop and rose instead, the delay got "extended."
Eventually the whole thing blew up.
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There's a current ad on the BST to sell rolls of ASE's for 2% under spot. Seems to have struck a chord.
I read their ad when the post count was only a few. Thought to myself, lot's of red flags here. Surprised to see a few regulars were contemplating the deal. No doubt they would return here to whine.
pre-selling precious metals always ends badly.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Pre-selling anything often works badly.
The only 'pre-selling' I have used, is the U.S Mint.... Cheers, RickO
Smart move rickO!
I agree with derryb. That rhymes
I did get a couple of ASE's a few years ago from companies who were trying to sell me silver if I would read their newsletter. The newsletters contained dire predictions about the price of silver going up and how the COMEX market was being manipulated by 'place your conspiracy theory world manipulator's name here' to keep the price low. 'You must buy from us immediately at 15% over spot to avoid total financial ruin!!!' was the general gist. Anyway I just took the bullion and filed the newletters.
K
Silver DESERVES dire predictions.
Buying under spot is a bad idea
You get bad medal or underweight medal in either case you loose.
If its to good to be true then its not true.
Agree. Also, you may get bad or underweight metal.
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