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Buying physical gold/silver

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oklaunion
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11:59a, 10/25/22
At APMEX, the premium on American Eagles is more than spot price of silver
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topher06
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In reply to oklaunion • 1:02p, 10/25/22
That's stupid, the government really needs to reopen the registered buyers program (or whatever it is called). The handful of brokers are just gutting everyone who is trying to buy, weaponizing the federal bureaucracy.
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K_P
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1:26p, 10/25/22
AG
Why can't someone just buy a contract and accept delivery of the silver/gold bars rather than pay a premium above front month for the bar at a dealer?

Probably a silly question but the CME website wasn't clear.
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Outdoorag011
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In reply to oscar9 • 1:52p, 10/25/22
I have not done business with them. SD bullion, JM Bullion, monument metals, Apmex are all good/trusted online dealers.
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Outdoorag011
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In reply to K_P • 1:54p, 10/25/22
You have to have a clearing membership to be able to trade futures contracts on precious metals. I believe that membership used to be $100,000 but I think it is $250,000 now.
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K_P
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In reply to Outdoorag011 • 2:28p, 10/25/22
AG
Group buy?
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Red Pear Realty
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2:30p, 10/25/22
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Still not worth it. Comex isn't going to have any more silver in six months anyway, so it's all good.
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JR Ewing
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In reply to Red Pear Realty • 4:55p, 10/25/22
AG
Red Pear Realty said:
Still not worth it. Comex isn't going to have any more silver in six months anyway, so it's all good.


At that point, what are the predictions on what the true price of gold and silver are?
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Red Pear Realty
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In reply to JR Ewing • 6:15p, 10/25/22
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There is so much smoke and mirrors in precious metals, there is no telling. That's what we will finally find out when the banks can't play games with it anymore. My personal estimate of silver's intrinsic value is $300 per ounce. But I think there is evidence that number is and could go much higher.
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K_P
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In reply to Red Pear Realty • 6:35p, 10/25/22
AG
Aren't industries using several tons of silver each month in their products? How could price manipulation happen on that scale? That's like saying oil should be worth $800.
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Red Pear Realty
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In reply to K_P • 9:02p, 10/25/22
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You have to decide for yourself how deep the rabbit hole goes.

We were just told that you can't take physical possession from Comex without a $250,000 membership fee. I have no clue if that's true, but if it is, I'd call that manipulation.

Or maybe the manipulation stopped at these convictions:
https://www.justice.gov/opa/pr/former-jp-morgan-traders-convicted-fraud-attempted-price-manipulation-and-spoofing-multi-year

Personally, the "if" isn't as important as the "why". Why would the price of silver be manipulated? Answering that question answers the question of if it's manipulated or not, for me.

Here's an article that hits the high points of the argument that silver is manipulated:

https://www.sunshineprofits.com/gold-silver/dictionary/silver-manipulation/


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JR Ewing
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In reply to Red Pear Realty • 6:25a, 10/26/22
AG
Red Pear Realty said:
There is so much smoke and mirrors in precious metals, there is no telling. That's what we will finally find out when the banks can't play games with it anymore. My personal estimate of silver's intrinsic value is $300 per ounce. But I think there is evidence that number is and could go much higher.


I do not disagree with you. The current cost of 20 Eagles on eBay is about $37.50 each. I would imagine without the manipulation of the markets to keep it's price down so that others will not flee to it as an alternate currency, the real price is probably 10-20 times that amount. Once people figure out it has been manipulated, they will overreact in acquiring it and it could go to 100-200 times current price, IMO. I think gold will go as high as 30X from current spot price.
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Apache
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7:43a, 10/26/22
AG
Quote:
I would imagine without the manipulation of the markets to keep it's price down so that others will not flee to it as an alternate currency

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Red Pear Realty
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8:31a, 10/26/22
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That's my "why".
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ChiefKiefton
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In reply to oscar9 • 8:48a, 10/26/22
oscar9 said:
is money metals good to purchase from?


I bought my first rounds from them a few years ago. They are trustworthy but a little more pricey compared to SD or JM. Honestly, I buy most of my silver off eBay. You get the best deals there. Just make sure to buy from a verified dealer like Bullion exchange or APMEX.
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jagvocate
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In reply to ChiefKiefton • 12:21p, 10/26/22
AG
ChiefKiefton said:
oscar9 said:
is money metals good to purchase from?


I bought my first rounds from them a few years ago. They are trustworthy but a little more pricey compared to SD or JM. Honestly, I buy most of my silver off eBay. You get the best deals there. Just make sure to buy from a verified dealer like Bullion exchange or APMEX.


Are the verified dealer deals on eBay cheaper than their normal websites?

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Aggiemike96
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In reply to jagvocate • 12:40p, 10/26/22
AG
In my experience, no, buying direct from the dealers' websites has been cheaper. The benefit from Ebay is that you can use a credit card.
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ChiefKiefton
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In reply to jagvocate • 1:14p, 10/26/22
jagvocate said:
ChiefKiefton said:
oscar9 said:
is money metals good to purchase from?


I bought my first rounds from them a few years ago. They are trustworthy but a little more pricey compared to SD or JM. Honestly, I buy most of my silver off eBay. You get the best deals there. Just make sure to buy from a verified dealer like Bullion exchange or APMEX.


Are the verified dealer deals on eBay cheaper than their normal websites?
You always get free shipping so if you only want a few ounces then that's helpful. Most sites have at least a $99 minimum for free shipping. I have also learned that it is easier to keep track of purchases. It's all in one place instead of multiple sites. Prices on their actual websites are generally very close to the eBay prices. For example, I just bought a tube of cook island coins from Liberty coin for $529.98 and their website had it listed for $529.48. That same tube is $573 on JM bullion and $575.40 on Apmex.
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JR Ewing
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In reply to ChiefKiefton • 2:56p, 10/26/22
AG
ChiefKiefton said:
jagvocate said:
ChiefKiefton said:
oscar9 said:
is money metals good to purchase from?


I bought my first rounds from them a few years ago. They are trustworthy but a little more pricey compared to SD or JM. Honestly, I buy most of my silver off eBay. You get the best deals there. Just make sure to buy from a verified dealer like Bullion exchange or APMEX.


Are the verified dealer deals on eBay cheaper than their normal websites?
You always get free shipping so if you only want a few ounces then that's helpful. Most sites have at least a $99 minimum for free shipping. I have also learned that it is easier to keep track of purchases. It's all in one place instead of multiple sites. Prices on their actual websites are generally very close to the eBay prices. For example, I just bought a tube of cook island coins from Liberty coin for $529.98 and their website had it listed for $529.48. That same tube is $573 on JM bullion and $575.40 on Apmex.


I've found David's Coin and Jewelry is decent on the purchase side. They are comparable to what you might see on eBay, maybe even a little less. They are not comparable on the sell side, so eBay would be your best bet, or one of the previous sites that pay decent above spot.
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ChiefKiefton
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In reply to JR Ewing • 3:28p, 10/26/22
JR Ewing said:
ChiefKiefton said:
jagvocate said:
ChiefKiefton said:
oscar9 said:
is money metals good to purchase from?


I bought my first rounds from them a few years ago. They are trustworthy but a little more pricey compared to SD or JM. Honestly, I buy most of my silver off eBay. You get the best deals there. Just make sure to buy from a verified dealer like Bullion exchange or APMEX.


Are the verified dealer deals on eBay cheaper than their normal websites?
You always get free shipping so if you only want a few ounces then that's helpful. Most sites have at least a $99 minimum for free shipping. I have also learned that it is easier to keep track of purchases. It's all in one place instead of multiple sites. Prices on their actual websites are generally very close to the eBay prices. For example, I just bought a tube of cook island coins from Liberty coin for $529.98 and their website had it listed for $529.48. That same tube is $573 on JM bullion and $575.40 on Apmex.


I've found David's Coin and Jewelry is decent on the purchase side. They are comparable to what you might see on eBay, maybe even a little less. They are not comparable on the sell side, so eBay would be your best bet, or one of the previous sites that pay decent above spot.


I have bought a bunch for David's. Highly recommend.
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jagvocate
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6:38p, 10/26/22
AG
Great info Ags

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Red Pear Realty
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9:08a, 10/27/22
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Someone mentioned a group buy?

https://monumentmetals.com/1000-oz-silver-bar.html
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Outdoorag011
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In reply to Red Pear Realty • 9:34a, 10/27/22
I want a 1000 oz bar so freaking bad!
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TXAggie4Christ
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In reply to Red Pear Realty • 11:34p, 10/30/22
AG
Red Pear Realty said:
Someone mentioned a group buy?

https://monumentmetals.com/1000-oz-silver-bar.html


I appreciate the chatter, it helps those of us with less experience.
Wanted to say my first experience buying from SD Bullion was excellent. Got a couple different sizes of silver bars……..not this one.
I'll kick in the $29 part on PayPal.
That would be a great addition.

Yes…..I'll trade you this silver bar for your used pick up truck …..
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Red Pear Realty
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In reply to TXAggie4Christ • 11:45p, 10/30/22
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Congrats! And welcome brother!
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jagvocate
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8:13a, 10/31/22
AG
After taking a pause for a bit (which killed me, but it's property tax season on land and rent houses), I jumped back in this a.m. on some "dealer choice" 10oz bars from SD Bullion … I have had really good luck with their choices over the years with mostly 'name' bars coming in (Valcambi, Royal Canadian Mint, Nadir, etc.) with only a generic 10 dollar bill-like replica bar with a buffalo in the back one time ….

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oscar9
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2:56p, 10/31/22
AG
picked up some scottsdale bars $2.00 over spot. Also, snagged a englehard bar at not as good price. Really like ebay since no CC fee
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lobopride
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1:23p, 11/2/22
Just cashed out all my Ethereum to buy 110oz of silver. I guess we will see if I made the right choice or not.
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jagvocate
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In reply to lobopride • 5:30p, 11/2/22
AG
I cashed out of Bitcoin early this year to do same. No ragrets

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11:57p, 11/3/22
jagvocate
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In reply to [removed post] • 8:04a, 11/4/22
AG
The final card in the Fiat Ponzi poker game is Central Banks revaluing gold ... in an amount sufficient enough to cover their sovereign debts ... it will take a while before we are at that point but the result will be the greatest wealth transfer in our lifetimes

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Outdoorag011
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In reply to jagvocate • 10:55a, 11/4/22
Over the last decade I have talked to thousands of people about precious metals. 99% of them will never buy a single oz of gold or silver. The 1% actually look at the numbers and realize that the play on silver can be very very fruitful in the years to come. Crypto has warped the minds of so many in thinking returns happen overnight. So many people want to get rich overnight. Those of us that play the long game in almost anything in life almost always come out on top.
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Buck Turgidson
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In reply to [removed post] • 8:49p, 11/5/22
FAT SEXY said:
Quartz - Central Banks haven't bought this much Gold since 1967

Quote:
Central banks globally have accumulated gold reserves this year at a pace never seen since 1967, when the US dollar was still backed by the precious metal.
Quote:
In the quarter ending September, demand for gold was up 28% year-on-year, reaching 1,181 tons, according to a new World Gold Council (WGC) report. The demand for gold this year has been primarily driven by a flight towards safer assets amid scorching inflation.
And yet gold is down quite a bit this year. It finally dropped to my target price and I bought physical gold for the first time in my life. Gold prices seem to be largely nonsensical, but it will give you a store of wealth if we go into Weimar level inflation. In the meantime, I have no faith that my gold will suddenly explode 2x, 3x, even 10x or 20x in value like you see predicted in countless Youtube videos.

As far as physical silver, I'm not sure why people focus so much on it. At $18/ounce you'd practically have to fill a room with 1 oz coins to have any material amount of money invested. I'll probably get some physical silver to allow me to make smaller purchases in an SHTF scenario (hard to buy groceries with $1,700-$1,800 gold coins), but its too cheap to be a material percentage of my portfolio.
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In reply to Buck Turgidson • 11:43p, 11/5/22
jagvocate
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7:55a, 11/6/22
AG
Dutch Finance Minister Floats Gold Revaluation As Solvency Option

Central Bankers hold gold for a reason. As the only Tier 1 Reserve Asset that can't be printed, it has no upper bound in price, and when these Central Bankers break their currencies and/or debt markets with their destructive inflationary policies, one of their last steps will be to revalue gold to an extremely high level that re-balances their balance sheets in a way that keeps them solvent.

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