Do you own physical Gold or Silver or Both?

Do you own physical Gold or Silver or Both?

  • I own physical Gold

    Votes: 31 9.6%
  • I own physical Silver

    Votes: 52 16.1%
  • I own Both

    Votes: 91 28.3%
  • I own neither

    Votes: 125 38.8%
  • I only own paper metals

    Votes: 23 7.1%

  • Total voters
    322

Tail Gunner

Hummingbird
Gold Member
I am thinking to buy a chunk of silver. I have a reliable source that sells 10% or 20% above spot depending on the amount. you can watch them melt the bar if you want. any other way to get a better deal currently?
Kitco.com looking good. Oz's are selling for only 5.7% over spot.
How about providing a web link or at least a full description of what you are talking about? Kitco is out-of-stock of most silver items. It has a terrible web site and I cannot find a way to sort by the lowest premium. The lowest that I see is over ten percent.
 

Daniel777

Newbie
Many large nations have within the past few years have increased their physical gold amounts. An area business near me that you can actually buy silver and gold within 10 minutes of walking in and paying just a small surcharge compared to those commercials on news networks that have numerous lawsuits for deceptive and misleading the elderly with extremely over-valued collector coins rather than the actual gold price they thought they would get when purchasing. Do your homework always when getting into these investments as many predators will take advantage in their boiler room-type settings of high-pressure sales. They charge 2-3 times what gold is actually worth justifying that you bought their specific gold collector coin such as a F1 formula gold coin rather than normal gold coins such as gold eagles(highest resale value), maple leafs(purest), Swiss pamps (small bar).
Own it physically, do not have others control your investments.
 
I wish I had the extra income to buy silver when it was selling for $12/ounce back in March. Do any of you guys have any recommendations on what type of safes would be good for storing some precious metals?
 
Finally received all my orders.
Not sure this is going to be off interest to anyone ( maybe @Tail Gunner who seems to be a pro investor ) but I found two ways to make money with gold.

1) I basically spend hours to find shops in every country in the EU and hunt for mistakes/slow updating in price . Its scary how many shops are "sleeping '.
Sometimes I think it s deliberate for the dealer to get payments and not go bankrupt.Mostly this happens with semi numismatic stuff ( example the coin is worth 400 ; I find it for 340 ; put it on sale for 380 ; everyone is happy : I make profit ; the buyer gets a decent deal + anonymity)

Typically an order over 2/3k of undervalued coins ( can't go more with my budget ) can provide up to 8/10% profit while selling on the secondary market or specialized forums.
This takes some time but I am not in a hurry.

2) Arbitrage.

Now we are talking mostly about investment coins. Have a look at buyback prices in various countries. It is very difficult and very demanding and involves several countries. This technique might not work in the USA/Canada.
Most dealers offering good buyback prices are in Germany. A few coins are taken back above spot . A simple example would be the Swiss vreneli ; taking a huge premium during this crisis in Germany. Much more than any other coin. I can find the coin with a very low premium at various shops where people still have stocks and where the Swiss coins are not too liquid despite keeping a very good spread.
I buy the coins and then sell them to a dealer. Even with the two postage fees I keep making profit. Then it s all down to volume . That s why I regret not to have more liquidity.
You can even find this on some numismatic coins but sometimes the buyback offer gets rejected if the state of the coin is not too good so this requires more knowledge.

The great thing with gold is that even if you miss an investment or make a mistake buying your stuff is still worth the value of the metal. Unlike other collectibles .
 

Tail Gunner

Hummingbird
Gold Member
The big money has engaged in serious gold arbitrage over the past few months.

Gold flooded into the U.S. in recent months as traders rushed to profit from an arbitrage caused by dislocations in the market triggered by the pandemic. Since late March, some 550 tons of gold -- worth $30 billion at today’s price and roughly equal to global mine output in the period -- have been added to Comex warehouse stockpiles. Hundreds of tons of that was imported.

While tens of billions of dollars of gold change hands every day in financial markets, a much smaller amount tends to physically move between vaults in trading hubs like London, Zurich and New York.

But that started to change as the Covid-19 crisis affected the supply chain. When planes were grounded and Swiss refineries closed in late March, traders were worried they wouldn’t be able to get gold to New York in time to deliver against futures contracts. That caused futures, which typically trade in lockstep with the London spot price, to soar to a premium of as much as $70 an ounce.


As I have stated several times, there are no PM shortages -- just temporarily disrupted supply lines. The dumb money is paying high premiums for a temporary supply-line event. This is the fourth or fifth story that I have read with similar quotes by industry insiders. For example, there is a ton of silver sitting at smaller refineries just waiting for shipment when supply lines re-open.

While large volumes and virus-related restrictions at vaults and airports caused some delivery delays, much of the spike in the premium for futures contracts in March -- which left some banks nursing sizable losses -- was driven by perception rather than reality, Finn said.

“My own personal opinion is that any assessment on the inability to get gold in was ill-informed at the time and was made on assumptions rather than fact,” he said.
 
@Tail Gunner thanks for your valuable input as always
I was just surprised to see that physical arbitrage is possible even when buying/ selling not in same country and counting international postage ( but inside the same custom zone).
I have no idea about arbitrage via the ComEx etc .
 
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