• If you enjoy the forum please consider supporting it by signing up for a NES Membership  The benefits pay for the membership many times over.

Gold and silver prices are down

For those of you who follow the ASE's...

From the US Mint 2/21/19:
This is to inform you that we have temporarily sold out of our inventories of 2019-dated American Eagle Silver Bullion Coins. In addition, all remaining 2018-dated inventories have been sold too.


The West Point Mint is busy producing additional 2019-dated American Eagle Silver Bullion Coins. We hope to be able to re-launch the 2019-dated coins in a few weeks.

Someone's buying silver...
 
Varmint said:
Like rich and others, I just buy from Apmex, MCM, silvertowne and a few times jmbullion. If you're buying bullion and mass produced coins, there's no reason to buy from anyone but the big trusted sellers.
Click to expand...

Agree 100% when buying popular modern silver. I like buying some of the old silver "art" bars from 70s and 80s. It's nice to be able to verify the content of those.
 
Ash,

If you watch eBay you'll see specials that are very attractive. And you can purchase with a credit card without the extra charges applied by most online sellers, and get air miles on the right credit car.

And when ebay bucks offers come along you can get up to $500 per quarter towards purchases in the next quarter, although these offers tend to be better used on pre 1933 gold coins than silver. The eBay bucks offers typically exclude gold bullion and bullion type coins. I've bought a few PCGS rated gold coins at slightly below or above spot price using this method. Basically eBay is underwriting your PM purchases...

Stick with the big guys and all is good. I've had no problem returning a problem item with Apmex on two occasions and once with JMB.

Best

Rich

samandglove1 said:
Thanks for the advice. I'm a long time buyer with Apmex & JM, but I've never bought precious metals on eBay before. I unloaded almost 200lbs of silver at $40 in 2011, and have stayed out of silver since then. Other instruments are starting to spook me a bit, though, so I think it's time to jump back in.
Click to expand...
 
Varmint said:
Yes, in the case of silver, JP Morgan has half the deliverable silver traded on the Comex in its own vault (100 million ounces). So they can easily manipulate the price of silver.

The Hunt brothers bought up all the silver and drove the price to $50 in 1980. Silver is a tiny market, it's a $20 billion market, like a quarter that of bitcoin. So it's easy to manipulate. But if gold takes off (and gold's much harder to manipulate), silver will go with it, so I don't really worry about it. Take advantage of JP Morgan driving down silver, and buy it. Just keep in mind it can take decades to pay off.
Click to expand...
My concern with silver is that it is an industrial metal, and it doesn’t benefit industry to have high silver prices.
 
HerbWest said:
My concern with silver is that it is an industrial metal, and it doesn’t benefit industry to have high silver prices.
Click to expand...

The cost of silver in things like phones is a few cents, so the price could double and the phone makers wouldn’t care. Silver would be like $4/oz if it was only an industrial metal.
 
HerbWest said:
My concern with silver is that it is an industrial metal, and it doesn’t benefit industry to have high silver prices.
Click to expand...

I love that Silver has many uses. Industrial, commercial, jewelry, investment. I think of it like petroleum, eventually the last few years worth of black gold won't be used to power cars or jets or generation plants. Instead it will be used for petroleum products that are in just about everything we use. It will become... invaluable.
 
I like buying directly from refiners/mints who pour their own rounds/bars
Click to expand...
The first question is if you bought $10,000 worth of a particular form of silver and sell it immediately thereafter, and the market price does not move, how much will you get back? The second question is how much will you get back if you sell it to a PM market making firm other than the one you bought the rounds from?

Compare this to buying recognized bullion coins or bars/rounds from the particular mint whose products you are considering buying.
 
Rob, I see where you are going with that and fully understand. With that I still like buying silver from reputable refiners/mints and save on the premium.
Now, granted you can always sell the .gov coinage for more, but it also costs more...
~Matt

Besides, if everyone only bought Silver Eagles...What kind of premium would you expect to pay... $5, $10 a coin?
 
Last edited:
Lol. I just checked JM Bullion and an Engelhard Prospector costs more than a newly-minted 2019 ASE Eagle... by 21 cents!

If the correct generics are considered, they may increase in value at a greater rate than governmentals.

xprospector-obverse2-202x202.jpeg.pagespeed.ic.07N4utUzyc.jpg
x2019-ase-rev2-202x202.jpg.pagespeed.ic.A1sb_shY37.jpg
 
Last edited:
Now, granted you can always sell the .gov coinage for more, but it also costs more...
Click to expand...
Which leaves the essential question unanswered - what has the smallest buy/sell percentage? (not dollar percentage, since you can buy more generics for the same $$ as legal tender bullion)

A good friend showed me his secret stash of junk silver (pre 65 silver coins). These may be the best for post-apocalyptic transitions like buying a beer or a loaf of bread but have a huge buy/sell spread if purchased for investment purposes.
 
I bought a lot of junk silver quarters at below spot when I was eligible for EBay bucks. Glad I did cause not only did EBay kick me off the eligibility list, but now I’d have to pay tax on them. I think I’m done buying physical silver. Got enough.
 
I chuckle a little when I think about post-SHTF PM bartering. Those first few months are gonna be pretty hairy until a system and trust-factors are ironed out...
 
Hey Sam. Without telling us how much you spent, can you tell us how many oz's you thought worthy of purchase? ... Or, not... [smile]
I find that data useful when considering market-demand.
Private Message if you want to keep that data... limited.
 
It was a lot. I'm starting again fresh with my silver buying, so I brought a bunch of cash with me hoping to make some deals. Silver is a little easier to make deals and find good prices. I'm going to take a little time before buying back into gold, as the discounts are less prevalent and the bad buys are more painful.

Oh and Rob, I was definitely carrying.....
 
I usually buy my silver in ones and twos, sometimes tens. I think I may stack some fiat and keep an eye on the markets... and the next coin show!...
~Matt
 

Similar threads

Gold Question from Newbie
Replies
23
Views
860
Varmint
Varmint
FREE….seed starting and basic garden planning & questions seminar. 4/6/24 Hardwick MA
Replies
7
Views
95
mousegunguy
mousegunguy
Problem with my ExPed DownMat 7...
Replies
9
Views
248
Andy in NH
Andy in NH
US Senators Are Being Issued Satellite Phones in Preparation for a 'Disruptive Event'
Replies
11
Views
1K
GM-GUY
GM-GUY
good video on what happens when grid goes down
Replies
10
Views
827
bolt
bolt
Back
Top Bottom