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How about that silver?

gladysvjubb

gladysvjubb

Active member
Veteran
I really love silver. One day my friend came to visit and we both had a shitload of cash to invest. I pointed out to him that silver had closed at $2.50 an oz. on Friday. It was Saturday so we went to the biggest dealer in our neck of the woods and bought all his 100 oz. bars in stock with the promise of more on Tues if we paid for them now. Which we did.
Silver did nothing but go up from that point.

Silver 19.77 3:02PM EDT +0.24 +1.25%
 
S

St. Phatty

Active member
I would not be at all surprised to see one or more cell-phone manufacturers come out with a "Silver Edition" cell-phone.

because of the Virucidal - or supposed virucidal - qualities of Silver.
 
troutman

troutman

Seed Whore
The only precious metal I have is a 1 gram Palladium Bar - Valcambi Suisse 99.95% pure bullion. :)

Only got it to say I have something in precious metals. :biggrin:

Probably get the same size in Gold, Platinum and Silver in time.

Like this collection.

ab9da624-1850-11e6-8dd8-3a0e58373f34.jpg
 
Green Squall

Green Squall

Well-known member
St. Phatty said:
there was very little available, and when it did become available the price was $3+ over spot.

in reality, you didn't miss much.
Click to expand...

The big guys were sold out - JM Bullion, APMEX, etc - but some of the smaller outfits were taking orders with the price locked in and delayed shipping. I got a 10 oz bar for $150.30 from Golden Eagle Coins (should have ordered more) and a "5 oz starter kit" from Money Metals exchange for $60.22

Sometimes you can get discounts using a link from findbullionprices.org. Right now that same starter kit is $91.20 with the employee price.
 
T

TakenByTheSky

Silver meh...

A few years ago when they were hyping the shit out if it silver was in the $30+ per ounce category.

Silver has obviously taken a significant plunge and had yet to get back up there. If you bought then you'd lost 1/3 of your investments.

Silver is not good, even gold as an end of the world currency I don't buy that bullshit. As we've seen from the pandemic is medical supplies, non parishable food, ammo and toilet paper have the most value when shit hits the fan.

Gold I see as only a good investment to make money over the long run. Like buying stock, buy it and sit in it and watch its value grow. The thing that sucks about gold is the buy in is so high.

If silver was to hit 10-12$ per ounce I'd buy in but I'm not seeing it as worthwhile right now
 
flylowgethigh

flylowgethigh

Non-growing Lurker
ICMag Donor
gladysvjubb said:
I really love silver. One day my friend came to visit and we both had a shitload of cash to invest. I pointed out to him that silver had closed at $2.50 an oz. on Friday. It was Saturday so we went to the biggest dealer in our neck of the woods and bought all his 100 oz. bars in stock with the promise of more on Tues if we paid for them now. Which we did.
Silver did nothing but go up from that point.

Silver 19.77 3:02PM EDT +0.24 +1.25%
Click to expand...

How much premium on the bars, or is that the 2.50, which is kinda high on 100 oz bars ref APMEX? I have some, and wish I had monster boxes of coins instead. Either ASE or my fave, RCM 4x9 leafs. That is because of counterfeits, and divisibility.

That ratio reverting to the mean will be a hoot.
 
flylowgethigh

flylowgethigh

Non-growing Lurker
ICMag Donor
Bud Green said:
I have over $750 face value of US junk silver. and I'm holding... It's buried in vac sealed jars...


ps... fuck toilet paper....booze and weed will have the best return in a SHTF scenario..

..
Click to expand...

Probably the worst thing you can do to $750 in junk silver is bury it in a mason jar. Maybe vac pak it first would be ok.

Dig it up, put it in a clean jar after you get all the black goo off somehow (silver oxide), and keep it in the shed disguised. Nobody is gonna trade much for a nasty quarter or dime.

Someone mention cash yet? Small bills too, cause people won't have change. I haven't been in a bank since this mask BS started, cause I like to also squirrel away cash.
 
S

St. Phatty

Active member
To keep the moisture away, i suggest rice.

There are much more powerful desiccants, but I'm afraid they might create an acid (in the presence of moisture) that would hurt the coins/ rounds.
 
MedFaced

MedFaced

Active member
flylowgethigh said:
Probably the worst thing you can do to $750 in junk silver is bury it in a mason jar. Maybe vac pak it first would be ok.
Click to expand...

They find silver coins that have been buried in dirt for thousands of years in Europe. People pay huge sums for some of these coins. I think the threat is a bit exaggerated.
 
flylowgethigh

flylowgethigh

Non-growing Lurker
ICMag Donor
The dealer I was buying my boxes from told a story of a guy who buried some silver mint boxes, and the metal turned black. Screwed up his stack. But yeah, they find coins in the ocean, creeks, beach, etc.
 
flylowgethigh

flylowgethigh

Non-growing Lurker
ICMag Donor
The ratio of the gold/silver price is reverting back to the "mean". Don't know where that should be, but 125 at the height of the wufu panic was too high. 15 back in the tulip daze is too low. Maybe 50-60 is right. Right now it is over 87.

3650d_sm_gold_silver_ratio.gif
 
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