Silver

[pkveazey]

Damn!!!!! Silver is still being manipulated even after one of the J. P. Morgan Vice Presidents pled guilty to price manipulation. It went to 13.99 while I was in town so I grabbed another $100 worth. This price manipulation could go on for a really long time before the whole shooting match collapses. When it all goes wrong, Silver and Gold will be King. I just hope I live long enough to tell my friends, I told you so.

[pkveazey]

I've been hearing and seeing a lot of things lately that indicate really bad things are about to happen before the end of Feb. so I went to my local Silver dealer today to buy some more Silver. Damn!!!! He was sold out of all his one ounce rounds and rectangular bullion. I guess other people have seen the same thing that I have. He had some Silver Eagles but I am not going to pay $25 ea. for the same amount of Silver as the 1 oz. Silver rounds. To me Silver is Silver. When it comes to using Silver to buy things, I don't think people are going to care if its a Silver Eagle or not, as long as its one ounce of pure Silver. He's expecting a shipment on Thursday or Friday. I just hope the price hasn't skyrocketed between now and then.

[patriotman]

I don't like silver coins. I prefer pre-1964 "junk" silver. It is easily identifiable and I can make change with it.

[JohnyMac]

@PK, what are you hearing and or reading about bad things by month end?

[zanedclark]

Yes PK, I'd like to hear as well on what you are seeing or hearing on the state of things.

z

[Nemo]

Where can I buy some junk, as in $100 worth.  Not $100 in face value (working out to big bucks on cost) but 5-6 ounces of dimes, quarters or a mix that works out to a current value of $100.

All my looking and searching leads me nowhere on that idea. 

Thoughts?  Suggestions? 

Nemo

[JoJo]

Where can I buy some junk, as in $100 worth.  Not $100 in face value (working out to big bucks on cost) but 5-6 ounces of dimes, quarters or a mix that works out to a current value of $100.

All my looking and searching leads me nowhere on that idea. 

Thoughts?  Suggestions? 

Nemo

That goes for me to.

 At one point last week silver was over $16.00 an ounce, it's at $15.76 at this moment.
 Gold has sneaked up to $1310+.
 Yes something must be happening, but what?

[pkveazey]

@PK, what are you hearing and or reading about bad things by month end?

Feb. 26th something bad(like the stock market collapsing) is supposed to happen to the economy and also there is talk of Trump putting us back on the Gold Standard which would pretty much drop the Federal Reserve out of existence and put the US Treasury back in charge of our new Gold backed certificates. If none of it happens, it still is a win for me if I buy more Silver. If things continue as business as usual, we will still end up in hyperinflation under the Federal Reserve system.

[pkveazey]

Where can I buy some junk, as in $100 worth.  Not $100 in face value (working out to big bucks on cost) but 5-6 ounces of dimes, quarters or a mix that works out to a current value of $100.

All my looking and searching leads me nowhere on that idea. 

Thoughts?  Suggestions? 

Nemo

Let me first say that I'm not against Junk Silver. I watch my change and once in a while I find a real Silver coin and put it in my Silver Stack. The problem I have with Junk silver is that a Real Silver dime is worth 90% of $1.70 (recent price for 1/10th of an ounce) because it contains 90% Silver. That's all well and good but the coins are getting older and harder to find and the COLLECTOR price is going up above the Silver value. During a collapse, I don't see anyone wanting to pay COLLECTOR price for Silver coins. When I find one in my change, I'm a big winner because I actually bought it for 10 cents instead of the approximate $1.50 that its actually worth. You can go to any coin shop and buy Junk Silver but they charge what its worth plus a premium on top because they have to make a profit on their sales. Its not a bad way to go because you are buying them for Silver value and the dealer has gone through them and and has picked out the ones that are in good condition that have collector value and is then selling off the worn coins. You might try offering 10 times face value in a local internet advertisement like Craig's List. That would get you a dime for $1 and it would actually be worth about $1.50. You also wouldn't have to pay the dealer premium of at least 10% extra. To me, that just seems like too big of a hassle. I personally just watch the daily Spot Price for Silver and buy $100 or $200 worth when I see a dip in the Spot Price.

[Deathstyle]

I would recommend investing in ways to detect counterfeit precious metals. It would be tragic to trade away a good rifle w kit for a gold krugerrand that turned out to be nothing but tungsten.

[pkveazey]

I would recommend investing in ways to detect counterfeit precious metals. It would be tragic to trade away a good rifle w kit for a gold krugerrand that turned out to be nothing but tungsten.

That is serious advice. If you are going to buy Gold or Silver, you absolutely must know what you are buying and if the seller is honest. Never buy off of EBAY. If you can't weigh it, check it with a powerful magnet, or do the ring test, then you're taking a huge and expensive risk. I know my dealer and he is honest but I still check every piece when I get home. So far, I've had no fake Silver. Then again, that's how I know he's honest.

[patriotman]

Where can I buy some junk, as in $100 worth.  Not $100 in face value (working out to big bucks on cost) but 5-6 ounces of dimes, quarters or a mix that works out to a current value of $100.

All my looking and searching leads me nowhere on that idea. 

Thoughts?  Suggestions? 

Nemo

Let me first say that I'm not against Junk Silver. I watch my change and once in a while I find a real Silver coin and put it in my Silver Stack. The problem I have with Junk silver is that a Real Silver dime is worth 90% of $1.70 (recent price for 1/10th of an ounce) because it contains 90% Silver. That's all well and good but the coins are getting older and harder to find and the COLLECTOR price is going up above the Silver value. During a collapse, I don't see anyone wanting to pay COLLECTOR price for Silver coins. When I find one in my change, I'm a big winner because I actually bought it for 10 cents instead of the approximate $1.50 that its actually worth. You can go to any coin shop and buy Junk Silver but they charge what its worth plus a premium on top because they have to make a profit on their sales. Its not a bad way to go because you are buying them for Silver value and the dealer has gone through them and and has picked out the ones that are in good condition that have collector value and is then selling off the worn coins. You might try offering 10 times face value in a local internet advertisement like Craig's List. That would get you a dime for $1 and it would actually be worth about $1.50. You also wouldn't have to pay the dealer premium of at least 10% extra. To me, that just seems like too big of a hassle. I personally just watch the daily Spot Price for Silver and buy $100 or $200 worth when I see a dip in the Spot Price.

I buy the junk silver from the same place I would buy bullion (like JMBullion) so they are simply charging a set amount over spot price like any other silver in their stocks. I buy when the spot price dips, but I just buy the junk silver instead. I see no difference aside from being able to recognize a junk 90% coin much easier than silver that could potentially be counterfeit.

I would recommend investing in ways to detect counterfeit precious metals. It would be tragic to trade away a good rifle w kit for a gold krugerrand that turned out to be nothing but tungsten.

That is serious advice. If you are going to buy Gold or Silver, you absolutely must know what you are buying and if the seller is honest. Never buy off of EBAY. If you can't weigh it, check it with a powerful magnet, or do the ring test, then you're taking a huge and expensive risk. I know my dealer and he is honest but I still check every piece when I get home. So far, I've had no fake Silver. Then again, that's how I know he's honest.

Buying it from a place like JMBullion (no affiliation, just a place I have used before) eliminates this problem. Again, that is why I like 90% junk silver coins. Since I am not looking to turn around a make a profit anytime soon but rather plan on using it in a barter economy, I don't mind paying the extra over spot price.

[patriotman]

Where can I buy some junk, as in $100 worth.  Not $100 in face value (working out to big bucks on cost) but 5-6 ounces of dimes, quarters or a mix that works out to a current value of $100.

All my looking and searching leads me nowhere on that idea. 

Thoughts?  Suggestions? 

Nemo

Where can I buy some junk, as in $100 worth.  Not $100 in face value (working out to big bucks on cost) but 5-6 ounces of dimes, quarters or a mix that works out to a current value of $100.

All my looking and searching leads me nowhere on that idea. 

Thoughts?  Suggestions? 

Nemo

That goes for me to.

 At one point last week silver was over $16.00 an ounce, it's at $15.76 at this moment.
 Gold has sneaked up to $1310+.
 Yes something must be happening, but what?

https://www.jmbullion.com/silver/junk-silver/

Here is one place, though it may be difficult to get it in the small quantity you would like. For a small amount like that, I would perhaps check pawn shops or coin dealers (or those I Buy Gold/Silver places).

Here are some that fit the bill, though I personally prefer getting them in dimes and quarters when possible

https://www.jmbullion.com/90-silver-mercury-dimes-5-roll-1916-1945/

https://www.jmbullion.com/90-silver-kennedy-half-dollars-10fv/

https://www.jmbullion.com/90-silver-walking-liberty-half-dollars-1-face-value/

[Jackalope]

    For those that are concerned about counterfeit silver or gold coins. as I've mentioned on here before, it would be wise to invest in The Fisch.  There are Fisch kits for most common silver and gold coins.  If the shit does hit the fan,  you could offer your services verifying the validity of silver and gold coins.  The Fisch is simple to use, and pretty much fool proof.  It's a wise investment if you have a large quantity of "pure" coins.  It will not work on junk silver.

[pkveazey]

    For those that are concerned about counterfeit silver or gold coins. as I've mentioned on here before, it would be wise to invest in The Fisch.  There are Fisch kits for most common silver and gold coins.  If the shit does hit the fan,  you could offer your services verifying the validity of silver and gold coins.  The Fisch is simple to use, and pretty much fool proof.  It's a wise investment if you have a large quantity of "pure" coins.  It will not work on junk silver.

I looked up the Fisch and the Ringer, Damn!!! They wanted an awful lot of money for a simple balance scale. I use a very accurate scale that will measure all the way down to grains. I think I only paid about $10 for it so I bought 2 of them. I like to also check for the proper ringing sound but I believe I can make a simple pinching device. I'm not against the Fisch and Ringer. I just think they cost a lot.

[Jackalope]

    Yeah, they are pricey, but it separates the counterfeit coins from the real ones.  I look at it as part of my precious metals investment.   If you're in a group, then one Fisch could be purchased and shared among the group.  Look at it as a shared resource.  I bought mine on eBay for about half the cost of a new kit, it took a while, but they are out there.

[pkveazey]

    Yeah, they are pricey, but it separates the counterfeit coins from the real ones.  I look at it as part of my precious metals investment.   If you're in a group, then one Fisch could be purchased and shared among the group.  Look at it as a shared resource.  I bought mine on eBay for about half the cost of a new kit, it took a while, but they are out there.

The idea that a person can just buy Silver or Gold and not worry about its authenticity worries me because I hate to advise people to buy it and then they don't do their homework to make sure its the real deal. When I measure my Silver ounces, the Troy ounce comes out to right at 1.1 regular ounce. All of mine have weighed in at from 1.1 to 1.104. I've also been tempted to set up a Specific Gravity test but so far I've just been too lazy. I used to collect rocks and minerals(I still have them) and part of the ID was to run a specific gravity test and I had all that crap set up but I haven't been active in the collecting hobby for a while so I don't have the simple equipment anymore.

[pkveazey]

Well here its is Tuesday and my Silver dealer said that he expected his Silver shipment to arrive last Thursday or Friday. He is closed on Sunday and Monday, so I showed up today to buy some Silver. WHAT!!!!!! The shipment hasn't arrived? Well, the Silver experts say that the first thing that will happen is Silver will be hard to get, then the dealers will lock the door while the price skyrockets, then they will reopen when the price levels off and then we will be able to get some at stupid high prices until the supply runs out. So what did I do. Well, he offered me 4 tarnished Silver Eagles at spot plus $2. I told him I'd buy them and also for him to sell me a 10 ounce bar of bullion because I was afraid he may never get his order of Silver rounds. I keep telling myself that I have stacked enough to survive but the economic gurus keep saying things that cause me buy more anyway. Every now and then, I go to the US Debt Clock website and see what the Silver to Dollar ratio is. Today, Silver was $692 oz. A month ago it was $482 oz. This crap can't go on forever. When the Silver price manipulators lose control, its going to be an unbelievable event.

[pkveazey]

Todays update on SILVER: Wow! The Silver gurus must know what they are talking about. The stock market started crashing by thousands of points and then Margin Calls forced investors to quickly come up with cash to pay for stocks they bought on credit. Hmmmmm….. What can I sell quickly in order to pay the Margin Calls? I know..... Precious metals. Hmmmm…. Nobody wants to buy my Paper Silver at Spot Price. I know, I'll offer it cheaper. Hmmmm…. Still no buyers. OK, I'll lower it until somebody buys it. Well, it went down to $14.50. At that point, I see a buying opportunity to buy some more Physical Silver. I grab a handful of cash and drive to the Silver dealer. What!!!???!!! He doesn't want to sell it because the price has dropped too low and he knows its just temporary and will go right back up. Anyway, I'm a good customer so he agrees to sell me some. That's what is going to happen when Silver starts rapidly going up. The Dealers are not going to want to sell you an ounce for $25 because tomorrow it will probably be $50, Then the next day it could be $100. They are going to want to wait until it levels off and then start selling again.

[pkveazey]

UPDATE: I told you so. Oh, no! I just said "I told you so". I hate when people do that. In my February post on SILVER I said that the Dollar to Silver ratio in January was $482 an ounce and in February it had gone up to $692 an ounce. Bend over and stand by for a RAM. Today, April, 21, 2020, it is $2,423 an ounce. If you can't see the handwriting on the wall, then we're going to miss you around here. I don't care what you do, but do something to protect yourself. Even if you pick the wrong thing to do, at least you did something besides standing in the road like a deer caught in the headlights.

[JohnyMac]

Gold broke the $1,700 an once threshold today. Mmmm?

We are heading for some serious economic times.

[Nemo]

A fair portion of that may be due to being minus priced recently and with/because the Iran rules of engagement changes WTI is still only around $14 a barrel.

There is no value in oil related investments.

But I am still buying silver.

Nemo

[JohnyMac]

Not to alter this thread on silver however, crude at $15- a barrel is what starts wars. Some countries economy's are based on crude being north of $65- a barrel.

[Nemo]

In any event, we are living in interesting times.

Nemo

[Kbop]

venezuala
Russia
Saudi Arabia
the USofA
Kuwait
Iran
Iraq
the Emirates

fun guests on this party list.