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byro007
Penny Collector Member
USA
399 Posts |
 Posted - 10/08/2008 : 17:11:25
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I have been playing the future silver market for a long time. The paper market basically some call it. I have never actually taken a delivery on my contracts but I usually deal in 5,000 ounce contracts and was looking at buying a 1,000 ounce contract at taking delivery of it so I can get silver at the market price which as of right now would be 11.60. If anyone can help me on this I would greatly apreciate it.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/08/2008 : 20:00:35
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The “Mini” 1,000-Ounce Silver Contract Is Deliverable
There are some nominal fees associated with taking delivery of a “Mini” silver contract including:*
$25.00 delivery fee
$25.00 processing fee
$15.00 warehouse delivery fee
Approximately $100.00–$200.00 delivery/packing charges, depending on where the silver is to be delivered
*Approximately $4.00–$6.00 per month storage fee may apply
Disclaimer
You should familiarize yourself with the full contract specification of this product. Applicable exchange fees apply. Delivery fees may vary. Please consult your broker for more information . Futures trading involves substantial risk. Therefore only risk capital should be used when trading futures.
You must be logged in to see this link.
If you do take delivery please let us know. |
Realcent.forumco.com disclosure. Please read.
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.
Think positive. |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 10/09/2008 : 09:29:34
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I want a thousand oz bar! 
I wouldnt know where to store it, but I wouldn't have to worry about someone walking off with it!  |
"99% of all lawyers give the rest of them a bad name"
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/09/2008 : 10:08:59
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I have read about in a few different places, but I have never talked to anybody that has actually done it. I say go for it and please keep us posted.
Step by step directions for gold (should be the same for silver):
You must be logged in to see this link.
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Edited by - horgad on 10/09/2008 10:10:32 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/09/2008 : 10:57:58
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This may be the answer to our silver buying problems at least of you can cover a 1000 ounce bar at the low "offical spot price". If one is able to buy and bring home 1000 ounces without any problems then at least for them there is no shortage of physical silver to buy. Why then would you want to pay $12,000 for, let's say, 700 ounces when you could get 1000 for the same price? Yes, there are advantages to smaller bars, but for that kind of savings I'll go with the big bar and a hacksaw. |
Realcent.forumco.com disclosure. Please read.
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.
Think positive. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/09/2008 : 11:51:15
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quote:
Originally posted by Kurr
Could the 1000 oz bar or the shot be melted into 1 oz ingot molds stamped and be marketable?
tmaring should answer this as he is the man when it comes to making coins, but its a matter of scale. On a small scale the work to make an ounce sized bullion coin/bar is probably not worth the profit...on a large scale *cha-ching*.
Which is why I think that the disconnect in price will not last long. Given enough time (6 months? 1 year?) production of small bullion will ramp up and the spread will narrow. |
Edited by - horgad on 10/09/2008 11:57:50 |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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byro007
Penny Collector Member
USA
399 Posts |
Posted - 10/09/2008 : 14:22:05
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| If a administrator want to move it thats fine. I am goin to contact my broker today and ask him to see how I can take the delivery right now and see what she says. As of right now I have a 5000 Oz dec. contract so I just have to buy a oct. 1000 oz contract I belive. I wouldnt mind if they would deliver 1000 one ounce bars instead of just one big bar but Im pretty sure its just one. |
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 10/09/2008 : 16:04:08
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quote:
Originally posted by Ardent Listener
Approximately $100.00–$200.00 delivery/packing charges, depending on where the silver is to be delivered
Is the silver delivered by Strip-O-Gram???  It should fit in a flat rate priority mail box! |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 10/09/2008 : 18:52:29
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quote:
Originally posted by PennehChaos.
quote:
Originally posted by Ardent Listener
Approximately $100.00–$200.00 delivery/packing charges, depending on where the silver is to be delivered
Is the silver delivered by Strip-O-Gram??? It should fit in a flat rate priority mail box!
If you think those are bad, as soon as more people start to take delivery the fees will go sky high. |
Realcent.forumco.com disclosure. Please read.
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.
Think positive. |
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PennehChaos.
Penny Collector Member
USA
269 Posts |
Posted - 10/10/2008 : 09:29:22
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| For a company that's trading entirely on trust, that kind of fee-heavy structure would make me VERY reluctant to "invest" |
Considering Verizon Business service? Perhaps you'd like to consider a nice drain cleaner enema instead? |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/10/2008 : 09:51:46
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quote:
Originally posted by PennehChaos.
For a company that's trading entirely on trust, that kind of fee-heavy structure would make me VERY reluctant to "invest"
But it ends up being really, really cheap percentage wise compared to the current premiums on silver. You just have to order in size.
For example, the premium on a 1000 ounce bar outside of COMEX is about 50 cents an ounce or $500.
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Edited by - horgad on 10/10/2008 09:52:24 |
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killerken53
Penny Pincher Member
172 Posts |
Posted - 10/10/2008 : 13:58:29
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Then all you need to do is get someone to melt your 1000 oz bar into custom 1 oz rounds and sell them for a crazy premium per oz.
Hope you get one that is on the + 6% side of the tolerance band, 60z for free. |
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darsemnos
Penny Sorter Member
96 Posts |
Posted - 11/14/2008 : 18:33:25
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| I am interested in taking delivery of 1000 oz of silver. Has anyone done this yet and know for sure how to do it? |
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Anyone know how to do this?
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