Author Topic: Silver is Sub-$17/oz  (Read 6175 times)

Offline 1greenman

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Silver is Sub-$17/oz
« on: November 17, 2016, 01:53:09 PM »
For those that like to hoard silver.  It is sub-$17 again.  Will it hit sub-$15 this year? Sub-$15 next year?

On ebay Bullion Exchanges has 100- 1oz Prospector rounds for $0.50/oz over spot (about $1730 at present)

Crazy.  Wish I hadn't tried to catch the knife and bought so many ounces from Mullgan mint as the price fell from $31 down to $21.  But hindsight is 20/20 now isn't it.

Anyway.
What are your thoughts?

Offline xxdabroxx

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Re: Silver is Sub-$17/oz
« Reply #1 on: November 17, 2016, 03:22:56 PM »
If I didn't have so many other things wanting my money right now I'd be buying a bunch.  JM bullion has/ had a 10oz at spot price deal going on. 

Offline 1greenman

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Re: Silver is Sub-$17/oz
« Reply #2 on: November 17, 2016, 05:05:37 PM »
Yep! Just put a video out on EM3 reminding people of JM's offer.

Too bad it's one time use.  But if you haven't done it....it sure is tempting.  I'd bet money it will disappear as an offer at $16/oz.

Offline Carl

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Re: Silver is Sub-$17/oz
« Reply #3 on: November 17, 2016, 05:39:30 PM »
I got mine at $3.43 an oz  ;D

Offline ncjeeper

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Re: Silver is Sub-$17/oz
« Reply #4 on: November 17, 2016, 05:40:40 PM »
Trying to broker a deal now on some 90%.

Offline jerseyboy

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Re: Silver is Sub-$17/oz
« Reply #5 on: November 17, 2016, 06:49:16 PM »
I do $25 bi-weekly at ownx.com for dollar cost averaging. It is MLM so contact me if you want to open an account.  It used to be silversaver.com but was bought out. Silver bullion is stored in a certified vault in Delaware and then when you get a shippable amount you can convert it to coin or rounds or bars. They recently added $100 face value junk silver which I am saving up for now. 71.5 ounces.

Jerseyboy

Offline 1greenman

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Re: Silver is Sub-$17/oz
« Reply #6 on: November 17, 2016, 09:41:57 PM »
Jerseyboy....
I don't know.  Had too many family members and friends get burned by MLM that I would be quite suspicious.  Would be curious how prices go and what you get at those prices.  Seems you start at 6% above spot...is that for gold and silver? When it is time to ship is it something reasonable like $8-$20 and no additional fees? Or handling fees on top of that? Any additional fees for 1oz silver vs bigger bars?

JMBullion offers pretty good weekly 'any quantity' specials.  And always FREE shipping on orders above $100.  Not sure if MSB members still get a discount, but it had gotten smaller last time I was MSB.  So not a HUGE break.

Offline 1greenman

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Re: Silver is Sub-$17/oz
« Reply #7 on: November 17, 2016, 09:44:09 PM »
I got mine at $3.43 an oz  ;D

Yeah, I've picked up 20-40oz in 'bits and pieces' of 90% at $1.40/oz,
But my dollar/cost average is probably closer to $20/oz

Offline chrisdfw

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Re: Silver is Sub-$17/oz
« Reply #8 on: November 18, 2016, 12:50:22 AM »
just bought a monster box of 500 eagles under 10,000 using credit card. additional fee of course, but will be using retirement money since the coins are for 401k. The 401k plan will also pay for the safe to store them in. Seems prudent given the uncertina financial situation.


Offline Carl

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Re: Silver is Sub-$17/oz
« Reply #9 on: November 18, 2016, 03:22:37 AM »
Yeah, I've picked up 20-40oz in 'bits and pieces' of 90% at $1.40/oz,
But my dollar/cost average is probably closer to $20/oz

I just bought mine EARLY,and sold the ONE BAG of 90% when the HUNT BROS caused the market to go HIGH,I sold at $74 and 8 weeks later bought back at $3.43...I have many bags and OZ now. I do occasionally buy pawn shop jewelry before they SCRAP it and get good value still.My mobility has slowed that savings plan now though.

Offline jerseyboy

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Re: Silver is Sub-$17/oz
« Reply #10 on: November 18, 2016, 05:50:50 AM »
Jerseyboy....
I don't know.  Had too many family members and friends get burned by MLM that I would be quite suspicious.  Would be curious how prices go and what you get at those prices.  Seems you start at 6% above spot...is that for gold and silver? When it is time to ship is it something reasonable like $8-$20 and no additional fees? Or handling fees on top of that? Any additional fees for 1oz silver vs bigger bars?

JMBullion offers pretty good weekly 'any quantity' specials.  And always FREE shipping on orders above $100.  Not sure if MSB members still get a discount, but it had gotten smaller last time I was MSB.  So not a HUGE break.

The initial buy in cost goes down the more you invest. The MLM part is that a portion of the initial buy-in goes to anyone who you say recommended you. When I signed up, I did not give a code, so no-one gets that percentage.

After that the money goes directly to purchase of bullion at negotiated spot price that day. Basically, they know how much customers are going to invest that day and they make one bulk purchase and distribute it. Or that is kind of what happens. On any given day people are trading in their bullion for coin so they don't have to purchase everything from the market.

That physical amount is assigned to you account until vault. So you pay monthly storage on your amount which is about a penny per ounce of silver a month which is peanuts. Minimum shipping size is 20 ounces which is free shipping. Conversation to coin is based on ounces of silver which translates to about $3 for an American eagle which is by and far the most expensive to $0 for 1000 of bar.

I like it for dollar cost averaging. I don't track the market daily but I have had some purchases done at some market lows and some higher. But if I was playing the market, I wouldn't have enough money to buy at every low $100 at a time a JM Bullion (which I do use too).

This is a set it and forget it account which auto deducts from my checking account.

I was afraid at first that the whole thing was going to go under and I would lose my investment but they make money no matter what so it is a solid foundation. I have been doing this for over two years.

Also, the bullion in your account is extremely liquid and can be sold at any time at spot price (might be a trading fee, never done that) and money transferred back into checking.

I think this is good for small investments over time. I think I calculated the total cost vs JM Bullion and it is only slightly more but the system is different and is more flexible so you pay for that.

If anyone wants to sign up, PM me. No cost to sign up and you never have to use it if you don't like.

They also do gold with a minimum shipable amount of 0.5 ounces

Jerseyboy

Offline 1greenman

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Re: Silver is Sub-$17/oz
« Reply #11 on: November 18, 2016, 09:29:04 AM »
When I signed up, I did not give a code, so no-one gets that percentage.
...........
If anyone wants to sign up, PM me. No cost to sign up and you never have to use it if you don't like.

They also do gold with a minimum shipable amount of 0.5 ounces

Jerseyboy

Actually, the company just keeps that commission as EXTRA profit.

Ok, based on the numbers you are telling me, it doesn't sound that bad.

I can see it as a pretty useful tool while you have 'limited' investment cash.  Though, still, it seems to loose its glamour the bigger into metals you go.   So percentages/fees get less the more you spend.  But by the time you have the cash to drop $2000 or $5000 at a time, if you can drop that cash, you could just as easily spend $800 or $1800 at a much better time when SPOT drops here or there.

Definitely if I talk to someone that this seems would be a good match for I will make sure to get your link to them. You introduced it to me, so better you get the profit than the company.

Still, be cautious.   'Regularly' do searches for the company (and any parent companies) in the news.   It would be great to get an early warning in case they start running a panzi scheme like Northwest Territorial Mint ended up doing(and that is a company that successfuly delivered millions of ounces of silver and gold...until they went bankrupt).

Peace

Offline jerseyboy

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Re: Silver is Sub-$17/oz
« Reply #12 on: November 18, 2016, 02:01:34 PM »
Thanks. Yes, when I want more than one hundred dollars at a time, JM Bullion is the place to go. This is definitely for small incremental investments.

Jerseyboy

Offline mountainmoma

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Re: Silver is Sub-$17/oz
« Reply #13 on: November 18, 2016, 11:18:24 PM »
Provident metals has 90% in stock, a bag of $100 face value is $1354 today https://www.providentmetals.com/90-junk-silver-us-coins-100-face-value-71-5-troy-ounces.html

provident has mexican peso's and bags of 90% silver tha JM billion doesnt. Both are good companies, depends on what you need


Offline Thunderhawkburner

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Re: Silver is Sub-$17/oz
« Reply #14 on: November 19, 2016, 03:24:26 PM »
I just go to a local gold and silver shop and buy $20 to $50 in junk silver about once a month. I checked them out when I started and several people told me they were good people to deal with.


 Can't afford more with all the other things shouting for my money...

Offline jerseyboy

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Re: Silver is Sub-$17/oz
« Reply #15 on: November 19, 2016, 08:10:32 PM »
I just go to a local gold and silver shop and buy $20 to $50 in junk silver about once a month. I checked them out when I started and several people told me they were good people to deal with.


 Can't afford more with all the other things shouting for my money...

That is the best because now you have a place to sell it back. I don't have anywhere close to me.

Jerseyboy

Offline Tyler Durden

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Re: Silver is Sub-$17/oz
« Reply #16 on: January 14, 2017, 05:55:20 AM »
I have a question.

Since a lot or some of silver's value is based on its industrial uses...

Would it be advisable to store up silver that has the capability, in a legal sense, of being melted down?  Say there were instances of tech companies buying silver for the purposes of manufacturing, it's illegal for them to melt down a silver eagle to use to solder computer components, right? 

I was just thinking that instead of just buying eagles or maple leafs, one should also buy bars and industrial grain, and what not.

Is this correct?

Offline Carl

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Re: Silver is Sub-$17/oz
« Reply #17 on: January 14, 2017, 06:25:54 AM »
  While silver is thought of as an investment by many,I think of it as trade goods
because it never sells,on the market,for MORE than it is worth
and you will almost always PAY more than it is worth to buy it.

  I rather think that it is 'cash' for trade goods where you get what you need,often for better value.

  You can't eat it,cook it,or start a fire with it and as value is often levered against the value of the dollar and
rarely due to hysterics of the market,it is better that I think of it as trade goods.

I only buy silver when offered to me at LESS THAN SPOT VALUE as investors often need cash and when silver is for sale...it is worth less to the seller.