[maddawg918]

Originally Posted by mes228

MadDaawg, that silver was easily worth about $2,000 if it was Silver Eagles. The pistols you received are great ones. Converting to cash and then buying the pistols would have been a little better deal though. As an aside the spot price for silver is as big a fairy tale as Mother Goose. The spot price is total fabrication. It's ancient history to buy physical silver anywhere near spot.

If you can CURRENTLY purchase physical Silver Eagles in volume for $44 (volume being 20 or so at a pop)- you are doing pretty well. I saw them selling for $50 each at the last show hand over fist so to speak. At every show lately I've seen cash transactions ie coin dealer to coin dealer for several of thousands of dollars at about $50 per silver eagle. Most change hands before the show opens to the public. I personally think we will see $75-$80 for a silver eagle in VERY short order. Not the spot price though, it will probably stay $40 or so. I'm speaking of person to person sales at Gun Shows/Trade Shows. That's how crooked & manipulated the spot price is.

Ah, that wasn't me sir, it was the poster above me. But I see now, for some reason I was thinking he traded 20 oz of silver, not 40. And you are correct, the spot price is no way connected to reality. Silver Eagles, and Mapleleafs for that matter, are bringing a premium on the 'Bay. I was watching some Mapleleafs going for $46 each with a shipping price of, are you ready, $15 each!!!

[G29Reload]

Originally Posted by maddawg918

Ah, that wasn't me sir, it was the poster above me. But I see now, for some reason I was thinking he traded 20 oz of silver, not 40. And you are correct, the spot price is no way connected to reality. Silver Eagles, and Mapleleafs for that matter, are bringing a premium on the 'Bay. I was watching some Mapleleafs going for $46 each with a shipping price of, are you ready, $15 each!!!

There is always potential for numismatic value with US coinage. That can skew the picture with regard to price.

[maddawg918]

Originally Posted by G29Reload

There is always potential for numismatic value with US coinage. That can skew the picture with regard to price.

Mapleleafs are not US coinage.

[1 old 0311]

Originally Posted by mes228

MadDaawg, that silver was easily worth about $2,000 if it was Silver Eagles. The pistols you received are great ones. Converting to cash and then buying the pistols would have been a little better deal though. As an aside the spot price for silver is as big a fairy tale as Mother Goose. The spot price is total fabrication. It's ancient history to buy physical silver anywhere near spot.

If you can CURRENTLY purchase physical Silver Eagles in volume for $44 (volume being 20 or so at a pop)- you are doing pretty well. I saw them selling for $50 each at the last show hand over fist so to speak. At every show lately I've seen cash transactions ie coin dealer to coin dealer for several of thousands of dollars at about $50 per silver eagle. Most change hands before the show opens to the public. I personally think we will see $75-$80 for a silver eagle in VERY short order. Not the spot price though, it will probably stay $40 or so. I'm speaking of person to person sales at Gun Shows/Trade Shows. That's how crooked & manipulated the spot price is.

See there are some that are willing to pay a premium for the same 1 ounce .999 coins because it was struck at a Gov mint. I won't. The gold I have is NOT American struck, they are 20 Franc coins. I buy for the melt value, NOT collector reasons.

[1 old 0311]

Originally Posted by emt1581

I've been meaning to ask you, how are you doing it? That is, do you trade silver for guns or sell the silver then buy the guns with the money? I haven't tried but I also haven't seen anyone wanting silver for guns.

Thanks

-Emt1581

I advertise on the State gun sites and sell for spot. I could sell to coin shops, usually the best rate for that kind of sale, and trade the coins for firearms. Works out for both parties. I get spot price, cutting out the middleman, and the trader is only paying spot, cutting the middleman on his end.

I have traded for 4 firearms so far, but as silver keeps rising my spread between cost, and trade price gets better. They are NOT for sale, just trade.

[mes228]

Just curious where you buy 20 Franc coins for melt value? I just checked E-bay and seems most are selling for about $1850 per ounce (far over melt value). I believe the 20 Franc Gold coins are the ones that Schift pretty much felt (a few months ago) "GoldLine" was ripping people off selling (I believe Glen Beck was a shill for Goldline at that time). At any rate congratulations buying at melt value. Most who do so buy from individuals, and it's hit or miss finding someone selling.

[cowboy1964]

Originally Posted by racerford

Have you sold it yet? If not it is paper profit.

i have seen Silver go from $50/oz to less than $5 in a short time. When it was at $50 so people had great returns, When it collapsed they did not and many lost money. You only really make money when you close your position.

That $50 price in the 80s was a true fraudulent bubble. This time ain't the same.

My 401k is all "paper profits" too until I retire.

[1 old 0311]

Originally Posted by mes228

Just curious where you buy 20 Franc coins for melt value? I just checked E-bay and seems most are selling for about $1850 per ounce (far over melt value). I believe the 20 Franc Gold coins are the ones that Schift pretty much felt (a few months ago) "GoldLine" was ripping people off selling (I believe Glen Beck was a shill for Goldline at that time). At any rate congratulations buying at melt value. Most who do so buy from individuals, and it's hit or miss finding someone selling.

E-bay is where I bought all my Swiss, and French Franc coins. The last I bought, 6-8 years ago, they were at about $160 which at the time was REAL close to spot. It doesn't surprise me that because of their size, 1/5 ounce, the price has gone above where it traditionally runs.

[racerford]

Originally Posted by cowboy1964

That $50 price in the 80s was a true fraudulent bubble. This time ain't the same.

My 401k is all "paper profits" too until I retire.

It was not fraud but manipulation by players dominating a then thinly traded market, mostly catering to industrial users of silver.

Today is little different accept the market appears deeper. There is more "paper" silver at play than there real silver to hold. The big difference is that there more manipulators in the market, as opposed to primarily two rich brothers at work.

Profits in 401Ks are papare are paper as well. However, there are varying types of risk.

Physical PMs have no default risk, but have theft risk, liquidity risk, and price risk.

Paper PMs (certificates) have default risk, and price risk and some liquidity risk.

Stock based 401k have market price risk, default risk.

Government security based 401k don't have either if you can hold them to maturity.

All have inflation risk.

[SilverCity]

Hunt bros. attempted to corner the silver market, perfectly legal. Our government did not like that and gave the order to execute "only sell orders" on the exchange. Silver got hammered. The rest is history.

Any investor who lost their butt in silver in 1980s has only the U.S. government puppetmasters to blame.

Buy and hold forever. When you die, will it to your kids.

Good Luck.

SC

[mes228]

I was pretty close to actual "spot" price of Silver Eagles in my first post. Schifts outfit "Euro Capital" (I think that the name). At any rate the silver/gold side of his business telephoned me today. I had made an e-mail inquiry at some point and they contacted me. Long story short -Silver Eagles, 20 at a time, were 44.40 each plus shipping & insurance. So I's suspect $50 or so is realistic even from the guru of gold/silver. With a delay in receiving them. I declined, but thought I'd pass the price along. Personally, I think $55 $60 is a bargain in Silver Eagles if you can actually take possession immediately. I don't know how many times I've seen Dealers sell out before a show even opens to the public. To the tune of single transactions amounting to several thousand dollars.

[wjv]

I buy silver bullion at ~$1.50 over spot/

I just go to my local PM dealer.
http://www.ajpm.com/htbin/silver.cgi

No sales tax in Oregon. No sales tax on bullion in Washington State.

[schild]

Originally Posted by mes228

I was pretty close to actual "spot" price of Silver Eagles in my first post. Schifts outfit "Euro Capital" (I think that the name). At any rate the silver/gold side of his business telephoned me today. I had made an e-mail inquiry at some point and they contacted me. Long story short -Silver Eagles, 20 at a time, were 44.40 each plus shipping & insurance. So I's suspect $50 or so is realistic even from the guru of gold/silver. With a delay in receiving them. I declined, but thought I'd pass the price along. Personally, I think $55 $60 is a bargain in Silver Eagles if you can actually take possession immediately. I don't know how many times I've seen Dealers sell out before a show even opens to the public. To the tune of single transactions amounting to several thousand dollars.

I bought some Eagles two weeks ago, I think I paid $42 each, and the mailman delivered last weeks.

If anyone wants to pay $60/once I've got some for sale.

[Don H]

Gold $1,466.50
Silver $40.07

[emt1581]

Originally Posted by blown03'

Gold $1,466.50
Silver $40.07

Yeah, I tried buying some last night. First the dealer bumped up the price from $1.25 to $1.50 over spot...which I know is still low. Then he closed early before I got there to buy it!!

-Emt1581

[wjv]

$40.42!!!

[maddawg918]

Originally Posted by wjv

$40.42!!!

Let's see.

"You can't eat silver."

"It's just a bubble."

"Guns and bullets are more important than silver."

"It's just a shiny metal, what use it is?"

"Once TSHTF it will be worthless."

[crimsonaudio]

Man, should have gotten out @ $24...

[Don H]

Early retirement here I come....

[SilverCity]

Bob Chapman thinks $50-$60 silver is the trigger point that will finally cause Comex to default on existing silver contracts, sending the price much higher...even well into the triple digits...very quickly.

http://bobchapman.blogspot.com/

SC

[SilverCity]

Originally Posted by maddawg918

Let's see.

"You can't eat silver."

"It's just a bubble."

"Guns and bullets are more important than silver."

"It's just a shiny metal, what use it is?"

"Once TSHTF it will be worthless."

Gee, I guess THE MARKET might disagree with them.

We are going to need something (gold/silver/food stores/ammo/energy sources) to keep up with the rampant inflation and even hyperinflation we will see in the next few years.

SC

[Don H]

Originally Posted by emt1581

Yeah, I tried buying some last night. First the dealer bumped up the price from $1.25 to $1.50 over spot...which I know is still low. Then he closed early before I got there to buy it!!

-Emt1581

Picked these up yesterday...


<a href="http://tinypic.com?ref=in78uf" target="_blank"><img src="http://i55.tinypic.com/in78uf.jpg" border="0" alt="Image and video hosting by TinyPic"></a>

[Warp]

I called my local coin dealer. The one I bought my Roosevelt dimes from a few years ago. Said he is giving $1.75 for them right now. Seriously?

Will give $39 for Eagles.

[maddawg918]

Originally Posted by Warp

I called my local coin dealer. The one I bought my Roosevelt dimes from a few years ago. Said he is giving $1.75 for them right now. Seriously?

Will give $39 for Eagles.

One of the dealers here will pay full spot for Eagles.

[maddawg918]

Originally Posted by SilverCity

Gee, I guess THE MARKET might disagree with them.

We are going to need something (gold/silver/food stores/ammo/energy sources) to keep up with the rampant inflation and even hyperinflation we will see in the next few years.

SC

EXACTLY!

And what's funny is that somewhere in the future with silver @ $50 or $60 or whatever, they're still gonna be saying the same old things.

I do believe I am gonna take some profits very soon, enough to recoup my initial outlay for all of it.