Silver Squeeze?

[president]

Great time to grab one of these imo. $204 and you get the free shipping. I do think we’ll go lower but averaging in is the way to go. Not trying to pick the bottom here.

Buy Asahi 10 Oz Silver Bar Online

Get your Asahi 10 Oz Silver Bar from Monument Metals, a leading dealer in silver bars and bullion. Free insured shipping on all silver bars orders!

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[COtrailrider]

Great time to grab one of these imo. $204 and you get the free shipping. I do think we’ll go lower but averaging in is the way to go. Not trying to pick the bottom here.

Buy Asahi 10 Oz Silver Bar Online

Get your Asahi 10 Oz Silver Bar from Monument Metals, a leading dealer in silver bars and bullion. Free insured shipping on all silver bars orders!

monumentmetals.com

I have some of these 10 ouncers and they're awesome. At that price point I'm tempted to pick up some more!

 

[Maddox]

I have some of these 10 ouncers and they're awesome. At that price point I'm tempted to pick up some more!

Any of you guys go into a local store and just pay cash for this stuff?

 

[Robert High Hawk]

the silver market is insanely broken. Silver is like laughably low but good luck trying to buy any phyzz for less than 20% premium, even in large volumes.

 

[COtrailrider]

Any of you guys go into a local store and just pay cash for this stuff?

A good local shop is your best bet. Pay cash and it's about as anonymous as you can get.

Those that work at coin shops are generally good people, and have a lot of overlap with firearms and generally knowing what's up in the world - aka good people to associate with.

 

[president]

the silver market is insanely broken. Silver is like laughably low but good luck trying to buy any phyzz for less than 20% premium, even in large volumes.

The Asahi bar is currently 16% over spot. Not bad for what I’d consider very clean silver. That’s to your door too.

 

[NoMoreTO]

Ultimately if the fed continues to tighten, silver will take a beating at least for a while. It's hard to say when there will be a shift, but right now the USD is King.

 

[paternos]

I think buying a little Silver is interesting now. (I bought some) From several perspectives:




The basis is that I belief Gold & Silver are a store of value, cross culture, cross generations.

- Today there is 3x the amount of dollars as in 2007
- Silver price is the same
- Debt levels are historically high (On a personal/company/state level)
- I doubt the security of currency, I hold some silver, gold and monero, and spread currency risk, among Dollar, Yuan and Euro (next to stocks, options)
- I don't really like technical analysis (who cares about lines, but.. In the full period since 2008 it didn't go below 14 dollars. I think that could be a down bottom level.
- I belief somewhere in the future there will be a bank run kind of situation that will result from the governments' stricter controls on the dollar, I wouldn't be suprised to see a panic, of people getting their hand on gold, silver, monero (anything the government cant find, the government in Europe already has closed the door on investing ) The Russia war has shown how they controls the banking system, the transfer system, now Russian companies are struggling to pay the interest on some debts they have in the UK/US because they can't change their currency on the open market. And these loans forgiveness programs are scary, it means all other dollars are no devalued.

Anyhow judge for yourself, it's not any how not a bad/bad moment.

 

[NoMoreTO]

Interesting little video. Any thoughts on why American Eagles and specific coins are at such high premiums right now? Is there any logic to paying a higher premium for an eagle, maple, etc.

Video ends with a pump on a stock, to me not worth listening to the end.

 

[username]

Any thoughts on why American Eagles and specific coins are at such high premiums right now? Is there any logic to paying a higher premium for an eagle, maple, etc.

The argument I heard is that later when people go to sell a buyer is more likely to believe an American Eagle or Maple Leaf is real. Also in US, a counterfeit AE or ML is a felony (18 U.S. Code § 485).

For me, since I can test precious metals I never buy AE or ML anymore. When I did buy them before the premium was between $1 to $4.

Ninja edit: I don’t check often but just from a quick search I see AE going for a $11+ premium, that’s ridiculous. If I can find someone willing to pay that premium I might rotate out the ones I have for some generic rounds.

 

[Maddox]

I recently bought a roll of Brittanias that were to supposedly have come straight from the mint. However, I noticed that there is a small nick or imperfection on each of the coins in the same spot on the Queen's neck.

Has anyone else experienced this? The online coin dealer says it might have been through transport. But that doesn't make sense to me. How is it possible that this could happen in the same place on each coin?

 

[zoom]

I recently bought a roll of Brittanias that were to supposedly have come straight from the mint. However, I noticed that there is a small nick or imperfection on each of the coins in the same spot on the Queen's neck.

Has anyone else experienced this? The online coin dealer says it might have been through transport. But that doesn't make sense to me. How is it possible that this could happen in the same place on each coin?

I can take a look if you post a picture.

 

[GlorytoGod]

For me, since I can test precious metals I never buy AE or ML anymore.

What do you use to test?

 

[NoMoreTO]

I recently bought a roll of Brittanias that were to supposedly have come straight from the mint. However, I noticed that there is a small nick or imperfection on each of the coins in the same spot on the Queen's neck.

Has anyone else experienced this? The online coin dealer says it might have been through transport. But that doesn't make sense to me. How is it possible that this could happen in the same place on each coin?

Poor Quality Control at the Mint.

 

[president]

I recently bought a roll of Brittanias that were to supposedly have come straight from the mint. However, I noticed that there is a small nick or imperfection on each of the coins in the same spot on the Queen's neck.

Has anyone else experienced this? The online coin dealer says it might have been through transport. But that doesn't make sense to me. How is it possible that this could happen in the same place on each coin?

This is caused from that part of the Britannia coin being the highest on the coin and when stacked, it rubs that area a little. Don't sweat it, silver is made for stacking not for admiring like a numismatic. If you want fancy coins go get super high premium American Eagles (not worth it).

Think about what you're getting for about the price of a solid bar - individual sovereign coins with security features. I know it's difficult at first not to want shiny flawless coins, but unless it's something collectible, graded, proof, something numismatic, do not worry about scuffs etc. Milk spots will likely come with time also, and don't worry about those either. Just stack ounces and don't stop.

 

[Maddox]

Premiums have gone up a few more dollars just in the last week or two. Now, even the cheaper coins seem like a rip-off.

Do you guys expect spot prices or premiums to decrease? I get the feeling that even if prices come down again, the premiums will stay where they are because of panic buying.

 

[NoMoreTO]

Premiums have gone up a few more dollars just in the last week or two. Now, even the cheaper coins seem like a rip-off.

Do you guys expect spot prices or premiums to decrease? I get the feeling that even if prices come down again, the premiums will stay where they are because of panic buying.

When prices move up quickly, many dealers increase their premium to protect themselves. Remember that they can't hedge (buy silver) with every small sale they make. I would wait until things settle down in the silver market and the premiums will hopefully settle with it. That is what I am doing.

 

[president]

Use this to help you find good deals: https://findbullionprices.com/. Verify the item is in stock after you find it on this site.

The dealer specific premiums can be very erratic. One dealer may have the lowest price then a few hours later the highest, so the link I posted is a good tool to stay on top of these swings. I think it must be a loss leader strategy or just inventory management.

Note that this site isn't perfect. You still have to do a little homework. For example, when looking at 90% silver you can see that if you search for $1 face value, you end up with a very different result than say searching for $10 FV. This problem is a result of not all dealers having exactly similar inventory and the price tracker not accounting accurately for out of stock items. Just something to be aware of.

 

[Maddox]

When prices move up quickly, many dealers increase their premium to protect themselves. Remember that they can't hedge (buy silver) with every small sale they make. I would wait until things settle down in the silver market and the premiums will hopefully settle with it. That is what I am doing.

I'm just worried that if I wait, there won't be any more silver to buy. I see major dealers short on tubes right now for their most popular products. Does that worry you?

 

[president]

I'm just worried that if I wait, there won't be any more silver to buy. I see major dealers short on tubes right now for their most popular products. Does that worry you?

If you can find a decent deal, pick up a little to satisfy your caution, but don't let fomo take hold. I wouldn't be loading up on $28 1 oz coins, they will likely head back down imo.

If you can find some generic rounds for a decent price or a 10oz bar, go for it but personally I wouldn't go all in at this moment.