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misteroman
Administrator
USA
2565 Posts |
 Posted - 06/22/2010 : 09:50:49
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I'm talking like large amounts here. Maybe like A million a yr plus or more? Just wondering if you guys ever thought like that? I think there is one person on here that could do it because he has a unique advantage.
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Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 06/22/2010 : 10:36:42
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quote:
Originally posted by misteroman
I'm talking like large amounts here. Maybe like A million a yr plus or more? Just wondering if you guys ever thought like that? I think there is one person on here that could do it because he has a unique advantage.
Not yet.Maybe there is one or two.Most likely they would hoard silver and gold first.They would not want to have the stigma of "penny hoarder" even if they realized the large percentage gains that will be seen.JMO
Everyone I talk to about it just gives me a cross eye,or deer in headlight stare.
Greshams law is just to hard to understand if your a "intelligent" sheep. |
Available again! $100 of Copper Lincoln Memorials for $145 shipped. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 06/22/2010 : 11:28:42
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We already know that George Soros is pouring hundreds of millions into gold, but then again he's a unique case. From talking to my coin dealer there are people locally with deep pockets who are buying tens of thousands of dollars worth of silver and gold at a time from him, so I'd guess that there are probably a lot of people like that. Just a guess, but I'd think that those who aren't buying PMs are probably trying to get as many other hard assets as possible before inflation takes off.
One scenario I've been tossing around in my mind is what I'd do if I win the lottery (I typically shell out $8 a week for Powerball and Mega Millions, just in case ). Other than the donations I'd make to ministries and charities if I win, I've wondered what the most low-key way would be to buy and/or have shipped to me large amounts of PMs. By my calculations, $1000 face value of pre-1965 silver will fit in the same size Priority Mail box as a $100 face value of copper pennies. You could buy the silver through APMEX and pay using a wire transfer so the packages come right to your door and nobody will see you coming out of the coin shop.
I think I'll start another thread about what to do if you strike it rich and want to buy a lot of PMs but remain low-key, just in case those of us who are loaded (not me) want to buy PMs and other stuff under the radar of the sheeple. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 06/22/2010 : 11:31:28
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To be honest, even coin dealers at coin shows/shops haven't jumped on the ban waggon to hoard copper and nickel.
I wonder when they will wake up?? |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 06/22/2010 : 12:09:42
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quote:
Originally posted by PennySaved
To be honest, even coin dealers at coin shows/shops haven't jumped on the ban waggon to hoard copper and nickel.
I wonder when they will wake up??
Coin dealers don't make their money by hoarding and speculating on the rise in value of what they are holding, they make their money by buying low and selling higher, marking up their inventory by a reasonable margin and turning it over, as fast and as often as they can, so they can use the profits to buy more and repeat the process endlessly  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 06/22/2010 : 12:36:49
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Sorry I posted too quick,thought it was under copper.
I'm sure there is a fair share of older people who have been burned by the "fair market" in stocks and remember how gold and silver was once used as money that are now power hoarding,and givin the banking system is on rocky ground.
No one wants to beleive what they are seeing unfold,bad banks getting bailouts,sudden unexplained flash crashes in the market.
All the talking heads on CNBC and the like networks are dumbfounded by the rise of gold,they can't or are unwilling to acknowledge that the system has been broken,they keep singing the same tune.
I remember that Warren Buffet once took a large position in silver,and along with Soros buying up gold,but those folks most likely only buy paper PM's.
The dealers I know can't afford to take large positions because they need to roll over what they buy so they have cash on hand to keep going.They also say that many more buyers are entering buying large amounts of PM's.
This is a great time to aquire PM's because the masses are still holden to their beliefs in banks and the stock markets,but once enough of them wake up and start looking for physical PM's to hold the train might have left the station.
Maybe then they will look to copper and other industrial metals. |
Available again! $100 of Copper Lincoln Memorials for $145 shipped. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 06/22/2010 : 23:55:57
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| I know if I had millions in cash laying around I probably would just sit around and swipe last minute deals on ebay all day |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/23/2010 : 02:03:01
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| warren Buffett owed 134 MILLION ounces of silver at one time. It got to the point that he was not allowed to buy anymore. So there are billionaires who do buy and hoard, but remember the Hunt brothers. It backfired. |
You don't have to be the BEST you just have to be.......SLICK
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Edited by - slickeast on 06/23/2010 02:07:40 |
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 06/23/2010 : 02:12:02
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quote:
Originally posted by slickeast
warren Buffett owed 134 MILLION ounces of silver at one time. It got to the point that he was not allowed to buy anymore. So there are billionaires who do buy and hoard, but remember the Hunt brothers. It backfired.
Did Buffet take a loss? I seem to remember that it didn't turn out as a profit.Why was he not allowed to own more? |
Available again! $100 of Copper Lincoln Memorials for $145 shipped. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/23/2010 : 11:12:13
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| I read an article somewhere that since he held 37% of the known silver and had more than Comex that he was not allowed to buy more. |
You don't have to be the BEST you just have to be.......SLICK
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Nickelless
Administrator
USA
5580 Posts |
Posted - 06/23/2010 : 11:20:10
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quote:
Originally posted by PennyPauper
quote:
Originally posted by slickeast
warren Buffett owed 134 MILLION ounces of silver at one time. It got to the point that he was not allowed to buy anymore. So there are billionaires who do buy and hoard, but remember the Hunt brothers. It backfired.
Did Buffet take a loss? I seem to remember that it didn't turn out as a profit.Why was he not allowed to own more?
Yeah, how could Buffett be prohibited from buying more? Surely there would be a seller somewhere. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Jangles
Penny Sorter Member
31 Posts |
Posted - 06/23/2010 : 11:37:38
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quote:
Originally posted by misteroman
I know if I had millions in cash laying around I probably would just sit around and swipe last minute deals on ebay all day
haha same here, would be a nice "day job" |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/23/2010 : 12:15:02
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Buffett has no SILVER currently. Rumor has it that he sold his stash to back SLV in 2006. 
Analyzing Warren Buffett’s Investment in Silver
You must be logged in to see this link. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 06/23/2010 : 12:19:00
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I vist coloradogold.com frequently to read Don's Column. I like reading his stuff, but could never reach his minumim purchase. He sells only large lots and is doing a booming business he deals in gold, silver and platinum.
China had been quietly buying all the copper they can get. They are doing a very good job at not getting too much too fast. Thier government has stated they would rather buy the copper for unknown future projects than save in FRNs. |
Silver Monometalism is the most permanent and stable form of money the world has seen. Natural law and history prove silver value is best multiplied by gold and best divided by copper. It is only in this counterfeit currency time when the natural law appears suspended. |
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 06/23/2010 : 13:14:14
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quote:
Originally posted by beauanderos
quote:
Originally posted by PennySaved
To be honest, even coin dealers at coin shows/shops haven't jumped on the ban waggon to hoard copper and nickel.
I wonder when they will wake up??
Coin dealers don't make their money by hoarding and speculating on the rise in value of what they are holding, they make their money by buying low and selling higher, marking up their inventory by a reasonable margin and turning it over, as fast and as often as they can, so they can use the profits to buy more and repeat the process endlessly
Well I meant hoard and sell them; I have a local dealer that will sell me copper pennies face whenever he gets them; he asked me why I was doing it and i told him the truth; same when I buy the French francs for the nickel content; He really didn't seem to feel there was much of a 2ndary market to sell copper pennies/nickel.
I rarely see a local coin dealer that sells copper and nickel as investments in metals. I guess when it goes up in value more; maybe it is not worth their time to fool with it.
I mean I am not complaining I will buy copper pennies at face all day long; saves me time from having to sort them.
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SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 06/23/2010 : 13:44:36
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People are mis/underinformed when it comes to Buffet's Silver position. He had physical possession of millions of ounces. And he used his holdings to generate income. He was a major short seller of silver on the COMEX by selling out of the money call options at a strike well above spot prices. This worked until silver appreciated past his strike and he got called out of his position. If I remember correctly, it was somewhere around $8 to $9 per ounce. He had possession long enough and played the option game long enough to make a considerable profit by selling call options.
Regarding large positions by individuals... sure, there are a few. However, those that do hold a large position would never disclose it until it comes times to sell. |
goto the new and improved realcent: http://realcent.org |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/23/2010 : 16:24:07
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| If you where a millionaire you could basically buy any pm near spot all day long in the quantities you want. |
Trolling is an art. |
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Nickelless
Administrator
USA
5580 Posts |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/23/2010 : 16:44:31
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No one in that strata wants to tie up a whole garage or outbuilding for 100k of copper when they can have 1m of gold in a small hidden wall-safe instead. If someone is worried about inflation, currency collapse, or economic depression, gold and silver perform better than copper because they are monetary metals not simply commodities. The main advantage to pennies is the spread between FV and BV, but if you are buying in bulk rather than sorting, you lose some of that. Also, you have the issue of liquidating when the time is right - lining up a buyer for 4 million copper pennies as the economy is collapsing around you is probably every bit as hard as it sounds.
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And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/23/2010 : 16:45:51
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quote:
Originally posted by misteroman
I know if I had millions in cash laying around I probably would just sit around and swipe last minute deals on ebay all day
LOL - just sit in front of the computer as your servant brings you lunch and your latest E-Bay purchase. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/23/2010 : 16:48:44
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quote:
Originally posted by Nickelless
quote:
Originally posted by Neckro
If you where a millionaire you could basically buy any pm near spot all day long in the quantities you want.
How do you define "near spot"--50 cents over? A dollar over? And would millionaires get a price break because they'd be buying in, well, million-dollar quantities?
Just look on APMEX - the huge bars are barely above spot and the really big ones say "call for price". And if you buy directly from the COMEX, you literally do buy it for spot. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Nickelless
Administrator
USA
5580 Posts |
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misteroman
Administrator
USA
2565 Posts |
Posted - 06/23/2010 : 21:31:37
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| not too hard to figure out. 400 boxes right? Multiply by how many square inches a box is. I'm too lazy to do the math but provided you the formula lol |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Coinsgunsmetals
Penny Sorter Member
USA
28 Posts |
Posted - 06/23/2010 : 22:33:20
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| Oh yeah there are, I bet most of the rich have a few hundred ounces of gold at least and then some of the smarted rich probably have a vault full of it. |
-The Great- |
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Nickelless
Administrator
USA
5580 Posts |
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Nickelless
Administrator
USA
5580 Posts |
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anyone think there are rich people hoarding HEAVY?
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