Is Silver next?

The #1 community for Gun Owners in Indiana

Member Benefits:

  • Fewer Ads!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • smokingman

    Grandmaster
    Rating - 100%
    2   0   0
    Nov 11, 2008
    6,913
    149
    Indiana
    I bought gold shot, it was much cheaper than bars or rounds, and it is still a ounce of gold, it is all about bb sized and sealed!!,
    was buying lots of silver from monument then all of a sudden there spot add on price greatly increased?? I have been considering buying 100 or 1000 ounce bars but read where they are hard to sell?
    Having sold several 100oz bars of silver I disagree. I have never had any trouble selling one,and the last 3 I sold were spot +5%. I know nothing about the 1000oz size though.

    I have even sold one back to Ampex at over the spot price. The 100oz are fairly easy to move even a moderate size dealer or coin shop will buy them.

     

    snorko

    Grandmaster
    Site Supporter
    Rating - 100%
    348   0   0
    Apr 3, 2008
    7,626
    113
    Evansville, IN
    I have even sold one back to Ampex at over the spot price. The 100oz are fairly easy to move even a moderate size dealer or coin shop will buy them.
    I think the advantage of the <100 oz bars is a wider group of buyers. Sure, major distributors such as Apmex or SD Bullion will buy them back, also some local dealers will maybe. But let's assume spot goes to say $25/oz - not a stretch at all. There are a whole lot more buyers for $250 10oz bars than $2,500 100oz bars. Also having ten 10oz bars instead of one 100oz gives you the seller a lot more flexibility.

    In the end it is what you are comfortable with. I just looked at Monument. Cheapest 10oz bar is $23.18/oz, kilo (32.15oz) bar is $22.788/oz and 100oz is $22.93/oz. It is interesting that kilo bars are cheaper per ounce but that probably reflects the market's comfort in round ounce weights.
     

    teddy12b

    Grandmaster
    Site Supporter
    Rating - 100%
    37   0   0
    Nov 25, 2008
    7,393
    113
    You'll all be glad to know that I have not bought or sold anything in the last few days. The only reason the market is fluctuating is because our global economy is crashing around us and we'll soon be in the deepest depression our nation has ever seen. Otherwise, everything is going great. :)
     

    spencer rifle

    Grandmaster
    Rating - 100%
    56   0   0
    Apr 15, 2011
    5,866
    149
    Scrounging brass
    You'll all be glad to know that I have not bought or sold anything in the last few days. The only reason the market is fluctuating is because our global economy is crashing around us and we'll soon be in the deepest depression our nation has ever seen. Otherwise, everything is going great. :)
    Quit being a realist. Our "president" says the economy is strong as hell.
    “The power of accurate observation is commonly called cynicism by those who haven't got it.” - George Bernard Shaw
     

    teddy12b

    Grandmaster
    Site Supporter
    Rating - 100%
    37   0   0
    Nov 25, 2008
    7,393
    113
    Quit being a realist. Our "president" says the economy is strong as hell.
    “The power of accurate observation is commonly called cynicism by those who haven't got it.” - George Bernard Shaw

    At this point I'm just hoping to top off the freezer with venison in the upcoming season before everything falls apart. Only downside will be that the freezer doesn't work when our glorious president decides to shut the power off to our nation.
     

    snorko

    Grandmaster
    Site Supporter
    Rating - 100%
    348   0   0
    Apr 3, 2008
    7,626
    113
    Evansville, IN
    PMs (except palladium and rhodium) steeply up this morning.
    Did teddy or snorko sell again?
    well I was thinking about it, maybe that was enough. But seriously folks...

    How is the supply of silver at your local dealers? I am working on building a relationship with a local store by making regular purchases. Nothing huge but I've been thinking about going in with cash to buy say a 1/4 or 1/2 ounce of gold but taking some silver to possibly add towards more Au. If supplies are as tight as the interweb says, then the chance to get some 90% coin or 1-5oz bars as well as cash should be appealing to them.
     

    2in1evtime

    Master
    Site Supporter
    Rating - 100%
    60   0   0
    Oct 30, 2011
    3,398
    113
    retired-midwest
    bought gold and silver while it was down was hoping to see it go lower but alas it went up quickly, will probably set out for a while and see how the market goes. I think it is going to crash along with the up and coming depression!!
     
    Last edited:

    hANNAbONE

    Master
    Site Supporter
    Rating - 100%
    6   0   0
    Jan 22, 2012
    4,304
    113
    Versailles, IN
    Gold / Silver ratio is 81 oz silver to 1 oz gold : as of right now


    as I've told many a friend recently : the Stock Mkt will tank by 30% in the coming days.

    $21.00-ish spot price for Silver currently is still a bargain.
     

    smokingman

    Grandmaster
    Rating - 100%
    2   0   0
    Nov 11, 2008
    6,913
    149
    Indiana
    Should I mention the Federal Reserve police force? I mean most corporations do not have their own police academies,but they certainly do and train their own at 3 different ones. Perhaps mention state laws do not apply to their arrest powers,and they can arrest anyone in the USA legally under current laws? How about funding for it being far higher than any state or municipality could dream?
     

    snorko

    Grandmaster
    Site Supporter
    Rating - 100%
    348   0   0
    Apr 3, 2008
    7,626
    113
    Evansville, IN
    Thread has been too quiet.

    SD Bullion started some Black Friday deals. I missed a good one on 1oz silver rounds but they currently have Argor-Heraeus 10 gr gold bars for effectively spot. Current price works out to $1,750/oz with Kitco spot at +/-$1,743/oz.

    Limit one per customer but separate orders work.

     

    smokingman

    Grandmaster
    Rating - 100%
    2   0   0
    Nov 11, 2008
    6,913
    149
    Indiana
    I first purchased silver in 1997. Even then I did not consider it a way to make money.
    What I view gold and silver as is a way to maintain wealth. Until 2020 silver had risen faster than inflation since the creation of the Federal Reserve. As digital trading of it and dollars increased it has not maintained that as well. I do believe it is still a very sound way to preserve wealth vs inflation,but only in the physical form.
    I have made some trading things like SLV,but it tends to be like buying lottery tickets(that I paid taxes on). I will stick with the physical in my hand real actual tangible object rather than the digital,it has zero counter party risk.
     
    • Like
    Reactions: Mij

    blain

    Marksman
    Rating - 0%
    0   0   0
    Dec 27, 2016
    161
    43
    Evansville
    I first purchased silver in 1997. Even then I did not consider it a way to make money.
    What I view gold and silver as is a way to maintain wealth. Until 2020 silver had risen faster than inflation since the creation of the Federal Reserve. As digital trading of it and dollars increased it has not maintained that as well. I do believe it is still a very sound way to preserve wealth vs inflation,but only in the physical form.
    "Having sold several 100oz bars of silver I disagree. I have never had any trouble selling one,and the last 3 I sold were spot +5%."

    Just curious, IF you don't mind.
    Viewing PMs as a store of wealth, why would you have sold bars back into the market at less than apocalyptic times?
    Was the spread just too tempting, financial emergency, etc?
    Again, it's your business, you can decline responding.
    I was just curious about your mindset in selling.
     
    Top Bottom