Silver Squeeze?

[Maddox]

For the experts on here...what would your advice be to someone who is just getting started in this and wanted to start buying up to 1k of silver in the following scenario:

- Currently renting an apartment in the US
- Would like to move to Europe next year

Would you still want to hold physical silver?
Should you stick to coins?
What do you do with it when you actually move?

 

[COtrailrider]

For the experts on here...what would your advice be to someone who is just getting started in this and wanted to start buying up to 1k of silver in the following scenario:

- Currently renting an apartment in the US
- Would like to move to Europe next year

Would you still want to hold physical silver?
Should you stick to coins?
What do you do with it when you actually move?

Sprott Physical Silver Trust

The Sprott Physical Silver Trust (PSLV) invests and hold substantially all of its assets in physical silver bullion. PSLV seeks to provide a secure, convenient...

www.sprott.com

I’ve been traveling so I’ve been getting some Sprott ETFs.

 

[Pointy Elbows]

For the experts on here...what would your advice be to someone who is just getting started in this and wanted to start buying up to 1k of silver in the following scenario:

- Currently renting an apartment in the US
- Would like to move to Europe next year

Would you still want to hold physical silver?
Should you stick to coins?
What do you do with it when you actually move?

I think you could hold physical silver in your carry-on at that value (1000 USD) without getting too much attention at the customs gate. Many guys here know the thresholds better than I do. I'd do some country-specific research.

I believe the first step in any PM portfolio is to just get hold of physical. Old saying: "when SHTF, if you don't hold it, then you don't own it." That's the axiom that has NoMoreTO posting that last post in the Gold Thread (dated today). Nation States are taking full receipt of their PM holdings, out of various NYC/London "secure" holding facilities, and repatriating it to their own vaults. For some reason, they want it in their own vaults...

To start, stick with common name coins, preferably US, Canada, or any of the prominent western mints. They are just more readily acceptable where you are and where you are going. You can get the exotics or the "junk silver" later.

When you get there, secure or hide it at home and don't tell anyone you don't really trust that you have a single ounce.

Sprott is well-respected in PM holders. If you go electric, he's where I would start, like COTrailRider did.

 

[president]

For the experts on here...what would your advice be to someone who is just getting started in this and wanted to start buying up to 1k of silver in the following scenario:

- Currently renting an apartment in the US
- Would like to move to Europe next year

Would you still want to hold physical silver?
Should you stick to coins?
What do you do with it when you actually move?

I would recommend the following but you will want to do a little more homework especially on any country specific issues regarding Europe.

Buy a few rolls of 1oz. silver European sovereign minted coins.

These come in rolls of 20 or 25 depending on the mint.

If you'll be moving to Europe, buy European bullion because they should be easier to sell in EU and may even offer tax advantages (or even if you don't end up going they are still a good value), I recommend Austrian Philharmonics or British Britannias (right now on bgasc.com these are ~$470 & $593 respectively for 20 (Philharmonics) and 25 (Britannias) roll tubes - representing a per ounce price of $23.50 & $23.72). Buy a few loose coins to round up your purchase if you need to and put them in capsules ('air-tites') if you want something pretty to look at and so you don't have to open the sealed mint tubes so see what they look like.

If you want to go overboard, bring proof of purchase (receipt) as well as take a photo of the bullion and receipts and leave on cloud or another location before going through customs (you really should have zero issues as the U.S. threshold is $10k).

With $1000 you should not be buying 10 or even 5oz bars or coins. Also, the sovereign coins I recommended aren't really that much more than plain old silver rounds (not sovereign minted), so I think they're worth the premium.

 

[Brebelle3]

For the experts on here...what would your advice be to someone who is just getting started in this and wanted to start buying up to 1k of silver in the following scenario:

- Currently renting an apartment in the US
- Would like to move to Europe next year

Would you still want to hold physical silver?
Should you stick to coins?
What do you do with it when you actually move?

I travel with a couple thousand usd's worth of archangel michael silver bars and alpha/omega coins bought through Scottsdale Mint.

I get stopped almost every time I send them through the metal detector and have to pull them out, but TSA never goes any further than wanting to see what I've got.

 

[NoMoreTO]

I travel with a couple thousand usd's worth of archangel michael silver bars and alpha/omega coins bought through Scottsdale Mint.

I get stopped almost every time I send them through the metal detector and have to pull them out, but TSA never goes any further than wanting to see what I've got.

This actually happened to me. I travelled to Colombia from Canada with a silver gift in my bag. The Border guys pulled it out and took a quick peek and were a little blown away. It's a beautiful coin and they seemed to think it was worth $5,000 or something when it wasn't worth $500. They obviously had never really encountered silver in their lives, or had no concept of the market. It was interesting seeing the wheels turn in their heads.

Silver is real money and it is somehow imprinted in our souls, psyches, or cultural history.

 

[NoMoreTO]

For the experts on here...what would your advice be to someone who is just getting started in this and wanted to start buying up to 1k of silver in the following scenario:

- Currently renting an apartment in the US
- Would like to move to Europe next year

Would you still want to hold physical silver?
Should you stick to coins?
What do you do with it when you actually move?

If I was travelling I'd look at 10oz bars. I wouldn't stack more than I could carry comfortably in my carry on. I wouldn't want to have my silver go through with my big luggage bag. I'd consider gold or platinum, just for the size and portability given you are moving back.

 

[Maddox]

I travel with a couple thousand usd's worth of archangel michael silver bars and alpha/omega coins bought through Scottsdale Mint.

I get stopped almost every time I send them through the metal detector and have to pull them out, but TSA never goes any further than wanting to see what I've got.

If you're traveling with silver to use as currency (I assume), what is the reason for going with larger bars vs small denominations like silver eagles?

And why would someone buy 1 oz bars over coins in general?

 

[Brebelle3]

If you're traveling with silver to use as currency (I assume), what is the reason for going with larger bars vs small denominations like silver eagles?

And why would someone buy 1 oz bars over coins in general?

I usually don't know how long I'll be out of the country. I have a family overseas, so I'm always a one way ticket traveler.

I just try to prep a bit in case the shtf. I carry 1oz bars and coins because I know a jeweler here and she has offered way over spot and like the size for trading if things go bad.

I want to carry some gold too, but I'd probably be too neurotic with that on me in a 3rd world country.

 

[Caduceus]

Silver (or gold) bars are more difficult to hide, and will always attract more attention than coins when crossing borders, or dealing with any sort of security checks.

It also looks a lot more obvious on the x-ray security scanners.

 

[zoom]

I think it would be easiest to travel with gold coins. You can take some gold coins and mix them in with some modern American dollar coins.

 

[bubs]

I’m considering buying a couple Silver Eagle coins off AMPEX vs my local coin exchange. From everything I’ve read about how dealers that would buy back coins will adjust the premiums to their favor, it doesn’t sound like buying and selling Silver is ever going to net you a gain on your investment. So I’ve come to the conclusion that owning hard physical coins is really just for SHTF risk mitigation currency only (IMO) if paper money becomes worthless and somehow your digital assets of a savings account, stocks, crypto etc get frozen or stolen etc. is this a fair assessment or am I missing something?

 

[Caduceus]

I’m considering buying a couple Silver Eagle coins off AMPEX vs my local coin exchange. From everything I’ve read about how dealers that would buy back coins will adjust the premiums to their favor, it doesn’t sound like buying and selling Silver is ever going to net you a gain on your investment. So I’ve come to the conclusion that owning hard physical coins is really just for SHTF risk mitigation currency only (IMO) if paper money becomes worthless and somehow your digital assets of a savings account, stocks, crypto etc get frozen or stolen etc. is this a fair assessment or am I missing something?

Yes, essentially.
It's very difficult to make any profit with silver, unless you get real lucky.
In the last 50 years, there have been very few occasions where silver holders actually made good money.

 

[bubs]

Yes, essentially.
It's very difficult to make any profit with silver, unless you get real lucky.
In the last 50 years, there have been very few occasions where silver holders actually made good money.

Thanks those stats are very informative. Yeah, I’m going to be buying a little bit for CYA purposes.

 

[Maddox]

I would recommend the following but you will want to do a little more homework especially on any country specific issues regarding Europe.

Buy a few rolls of 1oz. silver European sovereign minted coins.

These come in rolls of 20 or 25 depending on the mint.

If you'll be moving to Europe, buy European bullion because they should be easier to sell in EU and may even offer tax advantages (or even if you don't end up going they are still a good value), I recommend Austrian Philharmonics or British Britannias (right now on bgasc.com these are ~$470 & $593 respectively for 20 (Philharmonics) and 25 (Britannias) roll tubes - representing a per ounce price of $23.50 & $23.72). Buy a few loose coins to round up your purchase if you need to and put them in capsules ('air-tites') if you want something pretty to look at and so you don't have to open the sealed mint tubes so see what they look like.

If you want to go overboard, bring proof of purchase (receipt) as well as take a photo of the bullion and receipts and leave on cloud or another location before going through customs (you really should have zero issues as the U.S. threshold is $10k).

With $1000 you should not be buying 10 or even 5oz bars or coins. Also, the sovereign coins I recommended aren't really that much more than plain old silver rounds (not sovereign minted), so I think they're worth the premium.

So if you move to Europe, American Eagles would drop in price when you try to sell them locally?

How do you recommend protecting your investment if you live in an apartment? Is it better to get a safety deposit box at the bank? Or is that not safe anymore?

 

[Maddox]

Yes, essentially.
It's very difficult to make any profit with silver, unless you get real lucky.
In the last 50 years, there have been very few occasions where silver holders actually made good money.

Yes, but through those years, the dollar has always kept its value. If we have a situation here that looks like Venezuela where the dollar's value is destroyed, won't silver and gold go through the roof?

 

[president]

Yes, essentially.
It's very difficult to make any profit with silver, unless you get real lucky.
In the last 50 years, there have been very few occasions where silver holders actually made good money.

I've mentioned this several times but it bears repeating:

If you think the next 50 years will resemble the past 50 years in any meaningful way, you are much more faithful in the debt driven dollar debasement monetary system than I am.

 

[Caduceus]

Yes, but through those years, the dollar has always kept its value. If we have a situation here that looks like Venezuela where the dollar's value is destroyed, won't silver and gold go through the roof?

There's way too many (((rich people))) in the USA who depend on the dollar keeping its value.

The only sure sign of an imminent dollar collapse would be all those small hat wearing people suddenly emptying their bank accounts, closing their diamond shops, selling their penthouses and mansions, and booking 1 way tickets out of the country.

Until that happens, the dollar is safe.
Their whole power structure depends on it.

 

[Brebelle3]

Came back into the US yesterday through San Francisco and at customs the only 2 questions the agent asked me was whether I was bringing in any gold or diamonds.

First time I've ever been asked that and that only.

BTW, as soon as I cleared customs, the entire airport smelled like a dispensary. Black dudes high off their ass, tattooed girls everywhere, idiot conversations with no meaning.

This country is so gay.

 

[Maddox]

There's way too many (((rich people))) in the USA who depend on the dollar keeping its value.

The only sure sign of an imminent dollar collapse would be all those small hat wearing people suddenly emptying their bank accounts, closing their diamond shops, selling their penthouses and mansions, and booking 1 way tickets out of the country.

Until that happens, the dollar is safe.
Their whole power structure depends on it.

This begs the question...WHY do you think they depend on the dollar keeping its value?