Gold and silver prices are down

Varmint said:
guys, why is junk silver more expensive than ASEs?

like on MCM, a bag of 90% silver coins is $1400, and contains 71 oz of silver. That's $20/oz, I thought junk silver is cheaper than mint coins?

http://www.jmbullion.com/90-silver-coins-100-face-value/
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Junk silver is government legal tender and it's authenticity is unquestioned, therefore that guarantee of authenticity warrants a higher premium in the market

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sacksjacked said:
why go with a monster box? just pick up a little at a time. maybe once a month. average into it
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That's what I always thought. The savings on monster boxes don't warrant the high price point I have to lay out to purchase them in my mind
 
the_shootist said:
Junk silver is government legal tender and it's authenticity is unquestioned, therefore that guarantee of authenticity warrants a higher premium in the market
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There might be some of that going on, but people aren't really too concerned about counterfeit silver in >1oz denominations. Or at least they shouldn't be.

I bet the more likely explanation is that there's strong demand for 90% from the folks buying silver in anticipation of some sort of SHTF scenario and there's a limited, finite supply of 90% coins in existence. They want it because they view it as a known quantity that comes in relatively easy to work with denominations for day to day transactional purposes. It's also been hyped up by the prepping community for the better part of the last decade.
 
new guy said:
There might be some of that going on, but people aren't really too concerned about counterfeit silver in >1oz denominations. Or at least they shouldn't be.

I bet the more likely explanation is that there's strong demand for 90% from the folks buying silver in anticipation of some sort of SHTF scenario and there's a limited, finite supply of 90% coins in existence. They want it because they view it as a known quantity that comes in relatively easy to work with denominations for day to day transactional purposes. It's also been hyped up by the prepping community for the better part of the last decade.
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I don't disagree
 
Sorry - should have been <1oz denominations.

To Varmint's point though, I could have sworn the 90% stuff was actually cheaper over spot than ASEs not all that long ago.
 
new guy said:
There might be some of that going on, but people aren't really too concerned about counterfeit silver in >1oz denominations. Or at least they shouldn't be.

I bet the more likely explanation is that there's strong demand for 90% from the folks buying silver in anticipation of some sort of SHTF scenario and there's a limited, finite supply of 90% coins in existence. They want it because they view it as a known quantity that comes in relatively easy to work with denominations for day to day transactional purposes. It's also been hyped up by the prepping community for the better part of the last decade.
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Ok, so it should be cheaper than ASEs but maybe demand is high and supply low - which can make anything pricey.
 
If only there were a shop where you could get these things.

Are there any special laws regarding selling gold or silver coins?

I wonder if a store selling these, ammo, "prepper stuff" would do a good business; somewhere in Worcester area (central).
 
Coyote33 said:
I wonder if a store selling these, ammo, "prepper stuff" would do a good business; somewhere in Worcester area (central).
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Coin shops aren't exactly common, but they're out there.

I doubt a dedicated "prepper stuff" shop would fly though. We had one here in NH - it just closed down, and I'm frankly shocked they held out as long as they did.

Anyone tuned in enough to stop at such a place has likely already sourced everything they plan to buy without having to pay brick and mortar retail.
An FFL that already has foot traffic who wants to diversify his stock a bit, or an industrial or agricultural supply place that sidelines in prepper-friendly stuff - that's a different question.
 
That's what I always thought. The savings on monster boxes don't warrant the high price point I have to lay out to purchase them in my mind
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If you are going to buy and sell in "investment quantity" (tens of $K, not hundreds of dollars), you will need to sell at least a monster box to get the best price. For example, APMEX buy prices note "for purchases of at least $10,000; lower price paid for smaller quantities"

Coin shops aren't exactly common, but they're out there.
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Expect to pay a premium for the convenience and service. Remember, you will probably buy at retail and sell below wholesale.
 
Anyone know why silver & gold are up today, when the data suggests a Fed rate increase in September?

Either the market doesn't believe the rate increase is coming (I don't), or something else is driving metals.

Edit: Looks like it was probably short covering after the middling jobs report, gold is going down.
 
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goodzilla said:
http://m.ebay.com/itm/141528111687?_mwBanner=1

eBay APMEX ASE's for $361.20/tube.
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Damn, wish it was $347 again. Silver almost seems like it's bottomed out - even if gold goes to $1000, not sure silver will drop much. And I'm very skeptical the Fed will raise rates in Sept., so this could be the bottom for metals (or not).

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sacksjacked said:
A $.99 cents over spot deal is needed. This one is not bad though.
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Here you go, 100 oz RCM bar for $0.99 over spot. (is that a good deal?)

http://www.ebay.com/itm/SPECIAL-PRI...CM-9999-Fine/141721092435?hash=item20ff3c4153

$1.35 over spot for Buffalo rounds. That seems cheap, though I prefer coins.

http://www.ebay.com/itm/SPECIAL-PRI...20-SKU-74759/121531926419?hash=item1c4bde0793
 
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i'm not a big fan of those 100oz bars. prefer the 1oz bars/coins

it was a good deal for someone who is into that though.

the Buffalo deal you mentioned was a great deal. OOS already for both those deals.
 
FPrice said:
Does anyone have any thoughts/comments on the Canadian Silver coins? Are they worthwhile or a rip-off?
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Why would they be a ripoff? Silver is silver and these are as good as any silver coin. They are cheaper than ASE's because 'Merica makes everything better, right? :)

I have some Maples in my investment portfolio
 
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I've switched from buying Eagles to buying Maples almost exclusively. They are usually about a buck cheaper, and the retail-buyback type shops seem to pay the same for them as Eagles. Not that I have had occasion to sell any yet.

I also like the way they look, and they have a higher silver purity (.9999 vs .999) if that makes any difference.
 
the_shootist said:
Why would they be a ripoff. Silver is silver and these are as good as any silver coin. They are cheaper that ASE's because 'Merica makes everything better, right? :)
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I ask because I what I don't know. And I don't know precious metals so I ask questions.

And, the offer I am looking at is Canadian coins, just not the Maple Leafs.

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the_shootist said:
Why would they be a ripoff. Silver is silver and these are as good as any silver coin. They are cheaper that ASE's because 'Merica makes everything better, right? :)
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I ask because I what I don't know. And I don't know precious metals so I ask questions.

And, the offer I am looking at is Canadian coins, just not the Maple Leafs.
 
FPrice said:
I ask because I what I don't know. And I don't know precious metals so I ask questions.

And, the offer I am looking at is Canadian coins, just not the Maple Leafs.

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I ask because I what I don't know. And I don't know precious metals so I ask questions.

And, the offer I am looking at is Canadian coins, just not the Maple Leafs.
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Cool! So, we all buy maples and you probably will be too now!
 

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