Silver

[pkveazey]

Damn!!! I went to buy some Silver bullion today to add to my stack and two guys got there ahead of me and bought the guy out. He said he wouldn't have any more until next week. With all the crap that's going on in the world, I hope it is still at a price I can afford. Is anybody else having trouble finding it at spot price+premium?

[JohnyMac]

I established an account with Lear back in 2010. I just email my broker what I want to buy and the purchase goes through like crap through a goose. Based on my past purchases, I am paying 3% above spot. This fee is about average and much better than some that charge as much as 6% over spot.

[Jackalope]

    I bought some on Ebay last week.  I just look for the best price, which is usually pretty competitive.

[Grudgie]

I bought at $30 spot right before the crash 

Just hoping to break even some day.

[pkveazey]

I bought at $30 spot right before the crash 

Just hoping to break even some day.

Someday should be pretty soon. So far everybody has their head buried in the sand and they think that ignoring the Chinese, gold and silver backed Yuan will not affect the Dollar. When people start preferring the gold backed currency to the fiat currency, hyperinflation will hit first and then the  collapse of the dollar will occur. We'll have to sit on our thumbs for a while but when it happens, an ounce of Silver could be going for any ridiculous number. It could $100 or it could eventually be $10,000. Its anybody's guess. Several States have introduced legislation to allow the use of Gold and Silver as money. This time, they are doing it right. They aren't stamping a value on it. They will use the purity and weight stamps on the metals to determine its value. Some folks think that 100% bartering will work but it won't. I don't think I'm going to be able to go to the Doctor and tell him that as payment I'll come to his house and fix his roof or cut his grass. My Doctor is a bit of a Prepper and he was joking with me about NOT bringing him a chicken for an office visit.

[pkveazey]

    I bought some on Ebay last week.  I just look for the best price, which is usually pretty competitive.

I've never bought any off Ebay because the experts say most of it on Ebay is fake. Always test it when you get it and make sure you are allowed to return it. The sliding magnet test is a good test but its not fool proof. A warning sign is if its sealed up in a plastic case and not removeable. Its OK in a case if you can pop it open and take it out. Hold the Metal at a 45 degree angle and let a neodimium magnet slide down it. If its slides slowly its a good sign its OK unless the core is Copper. If it slides down quickly as if there is no resistance, then that's not a good sign. Then the obvious one is if the magnet sticks to it like iron, that's definitely a bad sign.

[pkveazey]

I established an account with Lear back in 2010. I just email my broker what I want to buy and the purchase goes through like crap through a goose. Based on my past purchases, I am paying 3% above spot. This fee is about average and much better than some that charge as much as 6% over spot.

Are you buying Paper Silver or Physical Silver? The guy I buy my Physical silver from is pretty trustworthy but he cleans my clock on premiums. He charges $2 an ounce regardless of the spot price. When its cheap I get burned but when its expensive he gets burned.

[Nemo]

I bought at $30 spot right before the crash 

Just hoping to break even some day.

A friend of mine got 200 oz and it worked out to $24/oz.  But when it goes neither of us y'all will be unhappy with buying silver.

Nemo

[Rogue-Metalsmith]

Hey guys.

I probably should weigh in here seeing as this is somewhat a field of my expertise.
In 2010 prices of silver were relatively cheap. baught a few kilo's of the stuff @ price of $248.89 per kilo
Today that same kilo would cost me $535.95. More than double what it cost me in beginning of 2010.
Now i know there were some flooding issues in some silver mines which led to an overnight silver price spike later in 2010. attached links.
I suppose it was luck i bought as much as i did when i did.
Question i have is do you guys keep the bullion bars or melt them down to use them?
Because who carries around Bullion bars?
I know some may lock it up, but how will you barter with the metal?
I devised it down to making trade beads of specific weights- scales are not so expensive and if you have a set weight /value it will make trading easier.
This is i suppose a long term investment kind of thing.
I am busy with prototypes- they look great and are functional.
Just a thought i suppose.
What are your thoughts on this gents?

https://silverprice.org/silver-price-history.html

Regards
RM
 

[Nemo]

I have mine in Silver Eagles because they will be the most recognized and widest accepted ones around here, I expect.

Bullion to home cast coins or beads would be too easy to fake or forge or whatever you call it to be widely accepted methinks.

Nemo

https://www.apmex.com/category/22100/silver-american-eagle-coins

[Grudgie]

Remember, when you pay a premium over spot, you will also be SELLING at a premium over spot. When you buy silver eagles, you aren't just paying for the silver, you are paying for the manufacturing process that went into making the coin from a recognized producer.

[Jackalope]

    I buy mostly American Silver Eagles on eBay, and mostly from established coin dealers.  There are a variety of ways of determining whether a coin is counterfeit or not.  One of these days I need to get a fisch for silver coins.  I prefer the ASE's because they're less likely to be counterfeit versus silver bullion.  We generally don't buy mch gold, mostly because of counterfeiting concerns.  However, there's nothing like picking up and hefting 4-5 ounces of gold and realizing how much it's worth in U.S. dollars...

[Rogue-Metalsmith]

Educational.
I love this blog site I learn something new every time i enter a conversation here.
Silver eagles. Never seen them before. Would you mind sending pics or attaching links to some samples?
Here is SA our widely recognized means of trade after SHTF would be bottle caps-just kidding. Kruger rands.
Mostly they are bought in Gold but i tend to lean towards the silver as well.

There are relatively good ways of testing metal qualities.
I will check if i can find the relevant links to the products you can buy to test if your metals are indeed silver/gold.

If i haven't come back in a day or two to post update just send a message to remind me.
Things are relatively pear shaped around my valley lately.

Regards
RM
 

[JohnyMac]

Here is a site with some pics RM. 

[Nemo]

The American Silver Eagle is the official silver bullion coin of the United States. It was first released by the United States Mint on November 24, 1986. It is struck only in the one-troy ounce size, which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver.

 
Troy Ounces vs. Avoirdupois Ounces. ... Obviously, then, a troy ounce is a bit heavier than a regular ounce. One regular ounce is 28.35 grams, while a troy ounce is 31.1 grams. The weights are close, but the difference becomes very noticeable when you're trading in larger quantities of precious metals.

Wiki copy above.

 You're on metric (I believe) so you know grams and such, so I won't have to tell you most measurement in the US is the Avoirdupois ounce-- 16 to a pound system.  Troy ounces go 14.58 to a pound.

In your area I think I would stick with Krugs.

Nemo

https://www.monex.com/prods/silver_eagle.html

https://www.monex.com/prods/gold_krug.html

[pkveazey]

I started this thread but its been a while since I said anything on it. With that said, am I the only one who has noticed how the Silver market has been acting lately? Its insane. Up, Down, Same old, same old, up, down, same old same old. When the Stock Market goes down, the precious metals market is supposed to be going up. This nonsense of holding the price of Silver as flat as possible at $16.50 can't go on forever. J. P. Morgan and other big boys keep selling Paper Silver at around $16.50 every time Silver tries to rise and then they take the money and buy Physical Silver with the money. From watching the Silver market every day, I've come to the conclusion that they are about to run out of Paper Silver to sell and Silver is going to explode. Well, there's no doubt that J. P. Morgan and the others will be sitting pretty when it happens because of all the Physical Silver they have accumulated, but the little guys like myself who have a small but decent amount squirreled away will be rewarded for our patience. Now, to really stick my neck out, I'm going to predict when Silver will break out and rocket away into the stratosphere. I just can't see this continuing past September of this year. Hell, it could be next week for all I know but I think that by June or July it will have happened. If you don't have any Silver, get a few ounces and at least throw them in your Bug Out Bag.

[pkveazey]

Hey guys.

I probably should weigh in here seeing as this is somewhat a field of my expertise.
In 2010 prices of silver were relatively cheap. baught a few kilo's of the stuff @ price of $248.89 per kilo
Today that same kilo would cost me $535.95. More than double what it cost me in beginning of 2010.
Now i know there were some flooding issues in some silver mines which led to an overnight silver price spike later in 2010. attached links.
I suppose it was luck i bought as much as i did when i did.
Question i have is do you guys keep the bullion bars or melt them down to use them?
Because who carries around Bullion bars?
I know some may lock it up, but how will you barter with the metal?
I devised it down to making trade beads of specific weights- scales are not so expensive and if you have a set weight /value it will make trading easier.
This is i suppose a long term investment kind of thing.
I am busy with prototypes- they look great and are functional.
Just a thought i suppose.
What are your thoughts on this gents?

https://silverprice.org/silver-price-history.html

Regards
RM
 

I personally only buy one ounce rounds or bars. If and when it comes time to use them, I have a scale and a chisel and would have no reservations about cutting one in half if the party I'm dealing with can't make change. I expect that when the time comes to use them they will be so valuable that cutting coins will be commonplace. A bit like the Spanish pieces of eight in the old days. The experts are throwing around crazy numbers like Silver will be hundreds of dollars per ounce.

[Jackalope]

    As I've mentioned previously, I buy mostly American Silver Eagles (ASE's).  I do have a few silver rounds, and some junk silver too.  I plan on using the junk silver for smaller purchases. 
    Some ASE's are in my bug out backpack, and I usually have some in my wallet too.  I keep some gold and silver outside of the country too, as a precaution.  Once, while going through customs in an Asian country the customs officers took an interest in my ASE's.  They had an extensive discussion in their language regarding the coins.  My traveling companion listened to the conversation and then intervened.  It seems they were considering confiscating the coins.  My companion pointed out that ASE's are legal tender in the U.S., and they were legal property of a U.S. citizen.  The customs officials ultimately allowed me to pass through with my coins.  My companion later relayed to me that they found the coins to be interesting and were wondering if they could give me a U.S. Dollar bill in exchange for the coins.   I don't know what would have happened if I had been carrying silver rounds.

[JohnyMac]

Interesting story Jackalope.

You know I do not carry any of my silver or gold coins in my BOB or on my person. I need to rectify that oversight. Thanks brother!

[Jackalope]

   I've acquired a Fisch kit for testing silver coins of various denominations.  The kit comes in a notebook/pouch which has individual Fisch testing devices for each denomination of silver coins.  The coins it can test come from Mexico, Switzerland, the U.S., Austrian, Britain, Isle of Man, and South Africa. It measures the thickness, shape, and weight of the coin.  The Fisch is designed to accurately check the vital measurements of specific silver coins.   There is a Fisch available for gold coins as well.

[gadget99]

   I've acquired a Fisch kit for testing silver coins of various denominations.  The kit comes in a notebook/pouch which has individual Fisch testing devices for each denomination of silver coins.  The coins it can test come from Mexico, Switzerland, the U.S., Austrian, Britain, Isle of Man, and South Africa. It measures the thickness, shape, and weight of the coin.  The Fisch is designed to accurately check the vital measurements of specific silver coins.   There is a Fisch available for gold coins as well.

I need to get one of these....

[JoJo]

 No one has mentioned Junk Silver, coins before 1964. You won't need a test kit the condition (worn) and date is all you need. I believe most people would trade for junk silver before any other type. I know I wouldn't trust silver dollars unless they are worn or any other supposed silver.

[pkveazey]

I thought I'd add a little info about FAKE SILVER. Its really hard to tell if Silver is real without doing extensive testing. Here are a couple of things you can do to narrow down the chances of getting ripped off. If you have a scale, a Troy ounce should weigh really close to 1.1 regular ounce. If you have calipers, you can measure it and determine if the volume is correct. You can hold the silver at about a 60 degree angle and let a "Neodymium" magnet slide down it. If the magnet sticks to it, you're screwed. If the magnet slides down it with absolutely no resistance, you're screwed. Since Silver is a good conductor the interaction of the magnet with the conductor causes an electromagnetic reaction and the magnet should slide down the face of the silver somewhat slower than you would expect. With some practice you can get a good idea of the speed that the magnet should go when sliding down. Its not the perfect test because if the center is Copper or lead,which are also good conductors, it will slow the magnet down also, but not quite as much as the Silver will. I hope this info helps those who are wanting to stack some silver. Don't try to use a weak magnet for this test.

[pkveazey]

Well, the Silver manipulators are really digging in and forcing the price of Silver down by selling Paper Silver really cheap. They are hoping that physical Silver holders will get squeamish and sell. Not me. I've been paying close attention to what's happening and grabbing all the physical Silver I can afford while the price is low. By doing that, I am also Averaging Down the cost of previous Silver buys. I looked at the 10 year chart and the price was exactly today what it was 10 years ago. Back then it took off and went to $50 an ounce. With Fiat Currencies collapsing all over the planet, I don't see Silver stopping at $50 an ounce this time.

[Jackalope]

    Yes, silver is a very good buy right now.  Buy on the dips, and it's in a dip.