Is Silver next?

[Tyler-The-Piker]

 

[snorko]

I have no basis for my belief but I think we are solidly over $27.00/oz for a while. The current $28.25 is nice but let's see if it holds. I feel pretty good about having ordered a small amount of silver last week.

One effect of the high premiums for me has been what I order. In the past I would scope out what was the lowest $/oz I could get and order that. I tended to wait till I could order a decent amount. With the increased premiums the difference between generic rounds and sovereign coins such as Philharmonics or Britannias has decreased to the point where it made sense to get the superior sovereign round. Also, as prices and premiums have gone up I have indulged in ordering some of the more "pretty" things such as a 10oz Britannia Valiant instead of a generic bar.

 

[teddy12b]

I'm mainly focused on bullion that's clearly labeled in small enough sizes that it'd be easy to make change with or make trades. I go with US Mint if I'm doing any kinds of coins because I don't think a whole lot of people who aren't up to speed on precious metals will grasp gold or silver coins from other nations.

I look at a lot of it as trying to convince someone who's not familiar with precious metals as to the value of what I'd be trying to barter with. I consider a 1oz bar the $20 bill of precious metals and hope to have a few of each put away.

 

[Tyler-The-Piker]

 

[snorko]

I'm mainly focused on bullion that's clearly labeled in small enough sizes that it'd be easy to make change with or make trades. I go with US Mint if I'm doing any kinds of coins because I don't think a whole lot of people who aren't up to speed on precious metals will grasp gold or silver coins from other nations.

I look at a lot of it as trying to convince someone who's not familiar with precious metals as to the value of what I'd be trying to barter with. I consider a 1oz bar the $20 bill of precious metals and hope to have a few of each put away.

I agree for the most part, but to me a sovereign coin clearly marked 1oz .9999 silver (Britannia, Kangaroo, etc) is at least equal to a generic round or bar. I do shy away from "old gold" coins, even American, since they have no face indication of content.

 

[teddy12b]

I agree for the most part, but to me a sovereign coin clearly marked 1oz .9999 silver (Britannia, Kangaroo, etc) is at least equal to a generic round or bar. I do shy away from "old gold" coins, even American, since they have no face indication of content.

I agree on those coins having a minimal value to an untrained eye that at least it's clearly marked as to what it is. That was my original concern when I go into all of this. The guy who deals in precious metals every day will know exactly what's in front of him. The average guy on the street...... not so much.

I wouldn't be shocked if Silver breaks $29 per ounce today.

 

[DoggyDaddy]

Rocky start this morning...

 

[Tyler-The-Piker]

Teddy jinxed it!

 

[cb46184]

Finally got the rest of my order from May 1. I'm still glad I bought it.

 

[teddy12b]

Teddy jinxed it!

Yeah I did!

I hold a special power that if I buy stock in any single company I alone possess the power to make that company take a steep financial nose dive. I'm glad to see my super power has transferred over to precious metals.

 

[Tyler-The-Piker]

Yeah I did!

I hold a special power that if I buy stock in any single company I alone possess the power to make that company take a steep financial nose dive. I'm glad to see my super power has transferred over to precious metals.

My wife has this uncanny ability as well. For example, the moment she purchases a vehicle (new or used) it begins to fall apart and when she buys herself a Colts or Cubs jersey then that player inevitably gets hurt, traded or retires. So we have a rule around here: she's not allowed to "watch" our stocks or PM prices

 

[DoggyDaddy]

Yeah I did!

I hold a special power that if I buy stock in any single company I alone possess the power to make that company take a steep financial nose dive. I'm glad to see my super power has transferred over to precious metals.

 

[snorko]

Yeah I did!

I hold a special power that if I buy stock in any single company I alone possess the power to make that company take a steep financial nose dive. I'm glad to see my super power has transferred over to precious metals.

Or hedge and short it as well, perpetual motion achieved!

 

[teddy12b]

Or hedge and short it as well, perpetual motion achieved!

Exactly! I'm waiting for the dip to really take effect and then I'll double down on some more silver.

 

[chadm]

All these first time gun owners are driving up the price of the only “precious” metals that I care about. Lead and Brass.

 

[spencer rifle]

Down a bit today - hoping for some more dip so I can buy.
Right now, just ridin' the spot roller coaster...

 

[snorko]

Serious question: with spot just under $28 and generic or basic 1oz rounds and 10oz bars between $32-33/oz from reputable sites, would you consider $30 an ounce a good price for 1oz, 5oz & 10oz bars & rounds? I want to shift a substantial amount of silver into gold. I can try and trade with a local coin shop but since I am not trading Eagles or Maple Leafs (well, maybe a few) I know I will have to give well over the Ag:Au ratio to do so.

So for mixed lots of 30oz to 60 oz, ranging from good 1oz bars to kilo bars with some sovereign coins in the mix, is $30/oz a "good" price? I have sold a good amount of silver on INGO and always had good dealings. Just not certain about what street prices are now.

 

[vzdude]

Serious question: with spot just under $28 and generic or basic 1oz rounds and 10oz bars between $32-33/oz from reputable sites, would you consider $30 an ounce a good price for 1oz, 5oz & 10oz bars & rounds? I want to shift a substantial amount of silver into gold. I can try and trade with a local coin shop but since I am not trading Eagles or Maple Leafs (well, maybe a few) I know I will have to give well over the Ag:Au ratio to do so.

So for mixed lots of 30oz to 60 oz, ranging from good 1oz bars to kilo bars with some sovereign coins in the mix, is $30/oz a "good" price? I have sold a good amount of silver on INGO and always had good dealings. Just not certain about what street prices are now.

I’m seeing spot plus $3 - $4 most places. For what it’s worth, I’d be interested. Feel free to PM to discuss.

 

[spencer rifle]

I am also interested. But it seems that silver is still underpriced, and the premiums are still too high. Conventional wisdom says that you should buy silver with the Ag:Au ration is high, and buy gold when it is low. In the end it's a roll of the dice.

Cheapest silver round I've found is currently at $31.60

 

[Spear Dane]

For those who have never heard of Basel III go and educate yourselves.