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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 10/04/2008 : 14:54:06
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You must be logged in to see this link.
As you might expect there is a catch. Go there and see. But it tends to reinforce the information I'm getting from my dealer that the huge spread over spot is due to the fact that the refiners just can't keep up with physical small bar silver demand.
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Kurr
1000+ Penny Miser Member
2906 Posts |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/04/2008 : 15:04:35
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| I hate to get off topic, but has anyone here ever bought any of this silver shot before? |
"99% of all lawyers give the rest of them a bad name" 
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 10/04/2008 : 15:34:13
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quote:
Originally posted by moboman
I hate to get off topic, but has anyone here ever bought any of this silver shot before?
Not off topic at all. One problem with it is that you would feel tempted to break the seal to make sure it really is silver in the bag, but once you broke it who would want to buy it from you? |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/04/2008 : 16:00:54
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quote:
Originally posted by Ardent Listener
quote:
Originally posted by moboman
I hate to get off topic, but has anyone here ever bought any of this silver shot before?
Not off topic at all. One problem with it is that you would feel tempted to break the seal to make sure it really is silver in the bag, but once you broke it who would want to buy it from you?
Are the bags opaque so that the contents can't be seen? Who would buy silver shot, and how would they know that what they're buying is silver?
In other words, let's say that one of us were to buy one of these bags. Who could we possibly sell this to who would want it--would local bullion dealers??--and how would they know that it's all silver, unless they're first familiar with silver shot? |
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Edited by - Nickelless on 10/04/2008 16:05:38 |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 10/04/2008 : 16:38:00
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| Back in the 1960's, when citizens wanted real silver for their silver certificates, didn't the US Treasury eventually give out .77 ounces of silver pellets? |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/04/2008 : 17:04:36
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quote:
Originally posted by pencilvanian
Back in the 1960's, when citizens wanted real silver for their silver certificates, didn't the US Treasury eventually give out .77 ounces of silver pellets?
Ya, ApMEx sells little vile reproductions of these. I wish my grandma had turned her silver certs in, instead of hoarding the paper cert. I guess she figured they'd always be redeemable. I guess the US didnt really make it true common knowledge that the certs would be no longer redeemable after 68. |
"99% of all lawyers give the rest of them a bad name"
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 10/04/2008 : 17:50:34
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I've been eyeing the silver shot for a while now. Trying to figure out how to convert it to into easily barterable ingots or rounds with a minimum of equipment...
Maybe cast it into long bars about 1/8" x 1" by whatever length, and then shear it to length appropriate to create one ounce ingots... |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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fb101
Administrator
USA
2856 Posts |
Posted - 10/04/2008 : 18:13:29
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quote:
I guess the US didnt really make it true common knowledge that the certs would be no longer redeemable after 68.
They did. I can remember in the late sixties they were redeeming all silver certs for $1.26 per dollar in clad, and my parents redeemed the ones they had knowing there was a final date to do it. I also remember having an understanding then of the why of it all. It was because of the trade deficit, and the claim that if we continued sending all of our silver and gold overseas, we would go broke as as country.
Darn good thing we learned our lesson!  |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/04/2008 : 18:16:57
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| Where is this 99.9% silver shot coming from and would it really take all that much to smelt it down into at least 99.9% bars by the refiners? If many industrial users usually buy silver shot instead of bars I would think they would be jumping on buying cheap silver now at such low prices. So I'm asking myself, is there a real physical silver shortage or is there just not of the stuff around in BAR form.....yet? On the other hand, maybe 'they' have to supply industrial customers but are trying to squeeze the small investor out of the silver market for good. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 10/04/2008 : 18:43:27
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quote:
Originally posted by Ardent Listener
Where is this 99.9% silver shot coming from and would it really take all that much to smelt it down into at least 99.9% bars by the refiners? If many industrial users usually buy silver shot instead of bars I would think they would be jumping on buying cheap silver now at such low prices. So I'm asking myself, is there a real physical silver shortage or is there just not of the stuff around in BAR form.....yet? On the other hand, maybe 'they' have to supply industrial customers but are trying to squeeze the small investor out of the silver market for good.
So would it behoove us "little people" to buy bags of silver shot, or would it be hard for us to resell it in its current form? |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/04/2008 : 18:54:58
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quote:
Originally posted by Nickelless
quote:
Originally posted by Ardent Listener
Where is this 99.9% silver shot coming from and would it really take all that much to smelt it down into at least 99.9% bars by the refiners? If many industrial users usually buy silver shot instead of bars I would think they would be jumping on buying cheap silver now at such low prices. So I'm asking myself, is there a real physical silver shortage or is there just not of the stuff around in BAR form.....yet? On the other hand, maybe 'they' have to supply industrial customers but are trying to squeeze the small investor out of the silver market for good.
So would it behoove us "little people" to buy bags of silver shot, or would it be hard for us to resell it in its current form?
That's a good question. I guess if you think that we are very close to the SHTF or seeing silver prices at least spike up again ( like early next week?) then there isn't time to wait for the refiners to catch up with demand. In that case take what you can get now and worry about finding a market for it later. But if you think that due to tight money (recession) silver prices may be suppressed for at least a while and the refiners will catch up and thus lower asking cost above spot will come. In that case who wants a 500 ounce bag of shot silver to unload? I got to admit, I'm thinking out loud here and want all of your imput. I'm considering a big buy. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 10/04/2008 : 19:09:23
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quote:
Originally posted by Ardent Listener
I guess if you think that we are very close to the SHTF or seeing silver prices at least spike up again ( like early next week?)
You've been talking the the Web Bots, haven't you, tell us what they said! 
Actually, I'm hesistant to buy any pm's that the vendor does not have in their hands for immediate delivery. And APMEX is quoting "available for delivery October 15th". An awful lot can change in 11 days, as we are all coming to learn... |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/04/2008 : 19:17:48
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quote:
Originally posted by Delawhere Jack
quote:
Originally posted by Ardent Listener
I guess if you think that we are very close to the SHTF or seeing silver prices at least spike up again ( like early next week?)
You've been talking the the Web Bots, haven't you, tell us what they said!
Actually, I'm hesistant to buy any pm's that the vendor does not have in their hands for immediate delivery. And APMEX is quoting "available for delivery October 15th". An awful lot can change in 11 days, as we are all coming to learn...
Good point. I got my butt burned on a silver deal many years back when a out of state dealer went bankrupt. Since the deal was that he would deliver within 30 days I was considered by the court to be a creditor of his. I had no intent of extending credit when I bought, but that is the way the courts saw it. Long story short, I ended up with only 25% of what I bought and that was only because he sent me 25% of my order just prior to his going bankrupt. |
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Nickelless
Administrator
USA
5580 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/04/2008 : 19:28:19
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quote:
Originally posted by Nickelless
In my opinion, the depressed prices in the silver market are probably due to manipulation, as has been discussed in other threads. It doesn't look like gold and silver prices have necessarily been moving in tandem all the time, which would seem to be the case if this were just because of the rise and fall of the dollar. My PM funding is out for about the next three weeks but I will definitely consider buying a bag of silver shot then.
I'm thinking about going for a 1,000 ounce bar from a local dealer. He can get me a better asking price over spot on it. It seems that the bar shortage is limited more to the smaller bars with a $2.50+ over spot fee tacked on to them. |
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All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
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Nickelless
Administrator
USA
5580 Posts |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/04/2008 : 19:42:01
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quote:
Originally posted by Nickelless
Are the bags of silver shot sealed with some kind of widely accepted emblem by APMEX or something that in some way assures would-be buyers who are knowledgeable about silver shot that the bag has not been tampered with? The only photo at the link you gave was of small grains of silver and then a canvas bag at the bottom of the page, no photos showing what a sealed bag of shot looks like.
I don't know, this is the best picture I can find of one. You must be logged in to see this link.
If I was serious about buying one I would ask several dealers in my area if they are buyers of silver shot and how close to spot are they willing to pay. |
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pappy
New Member
14 Posts |
Posted - 10/04/2008 : 19:52:47
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Appears to be some kind of seal on the 500 0z bag, but it is opaque.
Info on the smaller lots says:
Only $0.99 over spot per ounce!
These are delayed and will be available for delivery October 15, 2008. Pure BB sized silver grain/shot for industrial, jewelry, manufacturing and investment! Sealed in clear tamper evident bags. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 10/04/2008 : 19:53:54
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Just did a little poking around on the Web, it appears that what they are selling is casting grain silver, what jewelers use to make rings etc. It would make sense that there would be a surplus of this, given the credit situation, and it's likely effect on jewelry sales. I've always wanted to try my hand at casting-foundry work. I told my dad months ago that I was collecting copper pennies to cast a bust of him.....he was not amused.  |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 10/04/2008 : 21:09:07
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A year ago I contacted NWT mint about some 10oz unknown named .999 bars. They would buy them then at a small discount and then assay and melt them. As long as they assayed at .999 then there was no problem(and they didn't charge for assaying other than the discounted price, about 3% under their buy price on recognized 10oz bars)
So, if you think silver is going to jump up to $15 an ounce in the next 6 months, and if NWT would indeed buy these at just 3-7% under spot, then it may be a good deal.....since you can't get maples or eagles for less than $15 each. |
"May your percentages ever increase!" |
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Saul Mine
Penny Collector Member
USA
343 Posts |
Posted - 10/04/2008 : 21:23:08
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| Here is a tip: Apmex will sell 1 oz rounds for $13.58 but you have to know where to find them. This was a custom deal for goldismoney.info, but anybody can buy if you know how. All you do is search for "minuteman". |
A penny sorted is a penny earned!
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natsb88
Administrator
USA
1850 Posts |
Posted - 10/04/2008 : 21:28:39
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quote:
Originally posted by Saul Mine
Here is a tip: Apmex will sell 1 oz rounds for $13.58 but you have to know where to find them. This was a custom deal for goldismoney.info, but anybody can buy if you know how. All you do is search for "minuteman".
I thought about linking to those but figured it might be a no-no...
(try searching for 'bull' too  ) |
Nate
The Copper Cave
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Edited by - natsb88 on 10/04/2008 21:29:17 |
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natsb88
Administrator
USA
1850 Posts |
Posted - 10/04/2008 : 21:30:30
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quote:
Originally posted by natsb88
quote:
Originally posted by Saul Mine
Here is a tip: Apmex will sell 1 oz rounds for $13.58 but you have to know where to find them. This was a custom deal for goldismoney.info, but anybody can buy if you know how. All you do is search for "minuteman".
I thought about linking to those but figured it might be a no-no...
(try searching for 'bull' too )
Never mind, they seem to be sold out of the Silver Bull rounds. |
Nate
The Copper Cave
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 10/04/2008 : 21:58:33
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The "minuteman" rounds still exist though. $145.75 for 10 shipped.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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snappy
Penny Collector Member
USA
301 Posts |
Posted - 10/04/2008 : 22:27:26
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| silver shot is one of the best things to load in your shotgun... If your hunting werewolfs... |
Selling Ryedale sorted USA cents
1.5 each + shipping over 500fv 1.5 each +1/2 shipping
If you pick up 1.35 each
located MT/ND boarder.
after Ryedale sorting they are hand sorted to remove canadian then rechecked with Ryedale to insure all copper and count out $50 FV then placed in cloth bags and sealed with #1 copper wire. |
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99.9 % silver $.59 over spot.
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