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Old 03-29-2020, 05:04 AM
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Here in UK PM suppliers are no longer shipping, due, they say, to difficulty with couriers. Everything else I buy arrives next day. For various reasons we are making big savings right now, and I thought a couple of pounds of silver would be handy. No such luck. Learn from my experience.
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Old 03-29-2020, 02:30 PM
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Getting gold and silver is all but impossible now no matter where you live... None of the dealers are selling, can't say I blame them.
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Old 03-29-2020, 02:48 PM
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Getting gold and silver is all but impossible now no matter where you live... None of the dealers are selling, can't say I blame them.
The price of gold was down $6.30 on Friday to $1,654 per oz.
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Old 03-30-2020, 12:05 AM
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The price of gold was down $6.30 on Friday to $1,654 per oz.
Your point is ?
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Old 03-30-2020, 12:50 AM
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Silver is like $10-$12 over spot iirc , that's too expensive imho.
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Old 03-30-2020, 03:32 AM
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Silver is like $10-$12 over spot iirc , that's too expensive imho.
Spot is just the paper price, it's not the price of real silver.
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Old 03-30-2020, 04:53 AM
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Silver is like $10-$12 over spot iirc , that's too expensive imho.
Itís all relative.
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Old 03-30-2020, 05:52 AM
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Silver is like $10-$12 over spot iirc , that's too expensive imho.
Guess what the price of silver would be if just another 1% of people wanted to buy some.
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Old 03-30-2020, 01:23 PM
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Spot is just the paper price, it's not the price of real silver.
LOL yeah I get that but it's too much to pay imho. Glad I have some from way back.
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Old 03-30-2020, 01:31 PM
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LOL yeah I get that but it's too much to pay imho. Glad I have some from way back.
What is it worth then ?
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Old 03-31-2020, 12:01 AM
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https://www.riogrande.com/product/fi...g-grain/100802

silver casting grain.

20$ for 1 oz, 50 oz is 16.68$ oz.(gets cheaper more you buy) +8 shipping. They just shipped my 50 oz order today.
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Old 03-31-2020, 12:46 AM
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I'm curious about, say, silver.

Recently FELL from about $17 to $12, losing 30% value. Now about $14. For those paying, say $17, you're OVER-PAYING by 15% or so for an "investment." You're immediately taking a 15% loss on your money, plus any added fees...

And that's bullion, which is "OOS" everywhere I look. Most places have physical silver at $20-30 per oz. That's insane. You're LOSING huge % of your value right off the top.

How does that make financial sense?

Also, if you ever try to sell it, you likely won't make more than spot... maybe less than spot whatever that might be. And Silver has done nothing but fall or go mostly flat for 10 years...
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Old 03-31-2020, 12:51 AM
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One of the ironies regarding precious metals is there is a period between when you can buy and sell silver and gold regularly and when it'll be critical for barter, and during that period in between, in my State, you can't even get to a dealer because they're non essential and they are all closed!
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Old 03-31-2020, 04:32 AM
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Originally Posted by leadcounsel View Post
I'm curious about, say, silver.

Recently FELL from about $17 to $12, losing 30% value. Now about $14. For those paying, say $17, you're OVER-PAYING by 15% or so for an "investment." You're immediately taking a 15% loss on your money, plus any added fees...

And that's bullion, which is "OOS" everywhere I look. Most places have physical silver at $20-30 per oz. That's insane. You're LOSING huge % of your value right off the top.

How does that make financial sense?

Also, if you ever try to sell it, you likely won't make more than spot... maybe less than spot whatever that might be. And Silver has done nothing but fall or go mostly flat for 10 years...
The spot silver price is not the price is not the price of physical, it's the price of paper futures contracts, it's the price of silver that does not exist.

The price of something that does not exist is always less than the price of something that does exist.
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Old 03-31-2020, 04:33 AM
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Originally Posted by Prepping View Post
One of the ironies regarding precious metals is there is a period between when you can buy and sell silver and gold regularly and when it'll be critical for barter, and during that period in between, in my State, you can't even get to a dealer because they're non essential and they are all closed!
-
Which is where we are now.

I want silver for when it's necessary for barter, because a $300 gold sovereign isn't much good when all you want is a blanket.

I need UK coins because they are reliably what they say they are (that's the whole point of a coin, it's a metal ingot stamped with the king's head to show that it is what it says it is). This means they're easier to use than a gold earring. Also, when I sell them I don't need to pay tax.
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Old 03-31-2020, 06:45 AM
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Originally Posted by Sorry-no-clues View Post
Which is where we are now.

I want silver for when it's necessary for barter, because a $300 gold sovereign isn't much good when all you want is a blanket.

I need UK coins because they are reliably what they say they are (that's the whole point of a coin, it's a metal ingot stamped with the king's head to show that it is what it says it is). This means they're easier to use than a gold earring. Also, when I sell them I don't need to pay tax.
Silver is taxed in the UK, it's subject to VAT... Gold sovereigns are not pure gold, they are 22 carat. Recently minted Canadian gold coins are at least .9999 ( 24 carat ) and have the queens head.



I think gold and silver is useless in shtf situations, but it's a perfect way to preserve wealth for when the dust finally settles.
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Old 03-31-2020, 08:48 AM
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Quote:
Originally Posted by leadcounsel View Post
I'm curious about, say, silver.

Recently FELL from about $17 to $12, losing 30% value. Now about $14. For those paying, say $17, you're OVER-PAYING by 15% or so for an "investment." You're immediately taking a 15% loss on your money, plus any added fees...

And that's bullion, which is "OOS" everywhere I look. Most places have physical silver at $20-30 per oz. That's insane. You're LOSING huge % of your value right off the top.

How does that make financial sense?

Also, if you ever try to sell it, you likely won't make more than spot... maybe less than spot whatever that might be. And Silver has done nothing but fall or go mostly flat for 10 years...

You're right, it makes no sense at all; it's an urban myth.
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Old 03-31-2020, 04:00 PM
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I have a Henry 22, a hammer, a fishing pole and a small stack of silver. To this day none of them have ever been used and are therefore worthless......until they are not. Just saying.
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Old 04-01-2020, 12:00 AM
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Quote:
Originally Posted by leadcounsel View Post

Also, if you ever try to sell it, you likely won't make more than spot... maybe less than spot whatever that might be. And Silver has done nothing but fall or go mostly flat for 10 years...
Silver eagles are the popular retail silver investment, and there have nearly allways been purchased above spot. Prior to the rise of ASE, junk silver was the retail investment, and often purchased for close to spot, more often on the high side.

Silver requires a fair amount of value to turn it into a widely recognized form, and as such the finished good is worth significantly more than the silver content. Gold, other than prehaps the expense of security and working capital, can be minted for close to the same cost, but the coin is worth 50-150 times more.
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Old 04-01-2020, 09:05 AM
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Unless you are an industrial user, gold/silver are useless other than decorating a high maintenance woman. Poor ROI there.
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