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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 05/10/2009 : 21:29:00
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a couple things: I can't vouch for NWT mint in the last two or three months... but from my experience, they do tell you up front how long their delivery delay is.. and usually do a good job of delivering as scheduled. But it IS anoyingly freaky long!!!!!
The rounds down sell for any premium if you try to sell them because they are new to the market. Like OPM(Ohio Precious Metals). Dealers refuse to buy such things if they know they can buy better silver(Engelhard, ASE, etc) from the public for the same or similar prices.
90% right now... in the retail market has the most rediculous premiums of all! It is usually over $1.75 over melt per ounce. And that is $1000 face. But last time I checked, dealers didn't pay but 85%-95% of spot for it. Bulliondirect.com is out there to buy and sell at fairly adventageous premiums( keep in mind the -1% each way) |
"May your percentages ever increase!" |
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buyingsilvers
Penny Collector Member
441 Posts |
 Posted - 05/11/2009 : 06:22:57
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I own various types of silver... bars, rounds, govt minted rounds, junk.
I think junk has a lot of advantages.
-not widely counterfeited, usually no question as to authenticity and purity unlike "off-brand" silver rounds/bars
-easy to calculate silver content
-already broken into easy sub 1 toz fractions
-easily recognizable as silver- once the sheep understand that 1964 is the magic date (excluding 40% halves). Older junk like mercuries or franklins has an advantage in that it physically looks different than clad coins.
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 05/11/2009 : 15:45:03
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quote:
Originally posted by hector6man
Why do you guy have 90% and 40% junk silver? You would think that you guys had more sense in what you invest into. If we where to experience a currency crisis, the heard would be looking for 1oz. Silver because thats what they will hear on the radio and on the news. Imagine if we where in one right now, do you think a person will have time to calculate how much junk silver one is worth? I know some of you don't buy junk silver, you get lucky and find them. I don't understand why you would purchase 90% or 40%, over 1oz? Good luck, I know that this will be one of the greatest bull run on Silver and Gold. I know I wouldn't want to be holding 90% and 40% when this happens! 1oz. all they way!
1 ounce bars/rounds will be too big of a denomination for everyday transactions in SHTF scenario. If you don't have any dimes, quarters, halves or even war nickels you might have to cut your 1 ounce round into pieces of eight like they did in the old days. This is a picture of what pieces of eight reales look like before it was cut into 1/8's: You must be logged in to see this link.
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 05/13/2009 : 16:16:54
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Silver is nice in various forms to have for the future. However, I have had many, many people tell me that the 40% and 90% silver coins from our country's past--most refer to these as junk silver--will be the most recognizable and accepted form of silver to use to buy and/or exchange for goods, services, etc in an economical crisis.
You are right to question what could possibly be in the middle of a silver round or bar, etc. We hope that who we buy from is always honest and above board, but there is always a possibility that it may not be so.
And, unfortunately, I am learning more and more about the counterfeiting of our older silver coins and now error coins and the counterfeiting of the graded slabs that they are in as well. So, that isn't necessarily a guarantee that something is what we believe it to be. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 05/13/2009 : 16:23:23
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I like the Liberties, Eagles and Maple Leafs. Most people in this country know these well enough to accept them. One coin dealer I visit frequently buys Liberties (Mexican one ounce) in the junk silver.
I have some from there. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 05/13/2009 : 16:25:42
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I would trust coins first then rounds or bars from companies that I know, Englehard, MWTM, Monex.
If it came to a trade I would not reject them, but I would test them more for weight and volume to check for silver before I would take them. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 05/13/2009 : 16:59:05
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quote:
Originally posted by wolvesdad
a couple things: I can't vouch for NWT mint in the last two or three months... but from my experience, they do tell you up front how long their delivery delay is.. and usually do a good job of delivering as scheduled.
My experience was a guy who claimed to be the President of the company confirmed he had silver in stock and that it would ship within 10 days but in reality did not ship for about 10 months. I had to threaten legal action. Ultimately I got what I ordered after teh market price fell about 25%. Google NWTM - many have had similar experiences. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/16/2009 : 01:40:04
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quote:
Originally posted by Dalsuh
1 ounce bars/rounds will be too big of a denomination for everyday transactions in SHTF scenario. If you don't have any dimes, quarters, halves or even war nickels you might have to cut your 1 ounce round into pieces of eight like they did in the old days. This is a picture of what pieces of eight reales look like before it was cut into 1/8's: You must be logged in to see this link.
I've got about a 2-to-1 weight ratio of 90 percent to .999, so it sounds like I'm on track with what you said.
Here's a comment from SurvivalBlog.com:
You must be logged in to see this link.
Sir,
recently you responded to a young gent about silver purchases. i forwarded your discourse to my sister who brought up a valid point -- you never mentioned in your response where you see the use for Silver American Eagles. I responded to her that maybe your advice was to use/purchase silver in this order: 1) junk silver; 2) Silver American Eagles; and lastly 3) silver bars.Ii chose that order due to the purity of the metal and its recognizability. Is this your opinion?
As far as the silver bars are concerned, I think that you have a point. Will Grigg once wrote of how his father had received payment once in silver bars, and when the 1980s [bull market in silver] hit, he was able to use them to keep the family going. Thanks in advance, - Rick B.
JWR Replies: Unless you have the opportunity to buy some Silver Eagles on the secondary market at a price that is close to the spot price of silver, then I do not recommend buying them. In most circumstances, they are over-priced. Why pay as much as 35% over their physical (silver ) value? This just plain bad investing. Some would argue that Silver Eagles are "readily recognizable? My question is, recognizable to whom? I'd guesstimate that 90% of the American population has never seen an American Eagle, and that 95% of the American population has never held one in their hand. In contrast, at least half of the population is familiar with pre-1965 mint date US silver coinage. (Although I wonder how many people know with accuracy that 1964 wa the last year of their minting.) I stand by my advice: Get pre-1965 "junk" silver coins for barter, and a 100-ounce serialized bars for investing. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
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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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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/16/2009 : 01:45:21
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Here's another post from SurvivalBlog about two distinct stashes of silver that each of us should consider--our "barter" stash (for day-to-day stuff) and our "investment" stash:
You must be logged in to see this link.
As I've mentioned before in the blog, I recommend using maintaining two distinct hoards of silver, and that your do not co-mingle them:
A.) The first is your designated "barter" silver stockpile. The barter portion of your silver stockpile should be in small divisible units, ideally pre-1965 circulated "junk" 90% U.S. silver dimes. (Or the country specific equivalent, for our foreign readers.) This "barter" silver should be considered a core holding, and never sold for the sheer sake of profit. If you don't ever have to use it for barter, then count you blessings and just pass it along to your children or grandchildren so that they will will have something to use for the same purpose. As previously mentioned, if you can afford it, I recommend buying one $1,000 face value bag for each member of your family.
B.) The second is your designated "investment" silver stockpile. The best way to buy this--with the lowest dealer premium per ounce--is serial number-stamped 100 ounce bars, from a well-known maker such as Engelhard, A-Mark, or Johnson-Matthey. This stockpile is designed as a time machine to protect your wealth from one side of an currency crisis to the other. You buy it in current day dollars. After a currency collapse has come and gone, when a new stable currency (hopefully backed by something other than hot air) is issued, then you can convert part or all of your investment silver stockpile into the new currency. Odds are that most if not all of your original purchasing power will be preserved by this method.
The chances of a one-ounce silver round being counterfeited are fairly low, but the chances of 100 ounce bar being faked are statistically significant. So...
Buy only from a reputable dealer.
Buy only bars minted by a well-known maker such as Engelhard, A-Mark, or Johnson-Matthey
Buy only serialized bars.
If in doubt, have an assay conducted. This is the norm for 1000-ounce industrial silver bars, but can also be done with serialized 100 ounce bars if they are being offered by a dubious seller. (A local bonded assay company can be located with a web search.) The traditional method is to drill a small diameter hole into one of the bars to insure that you aren't buying a lead bar that has been silver plated. Then, those drillings are tested using nitric acid and silver chloride.
In the unlikely event you don't have access to an assay company, then at least weigh the bar on a very accurate scale and compare its dimensions (using calipers) with a "known good" bar from the same maker. (There will be minor variations, especially with cast bars, but it is difficult to create a counterfeit bar that will have both the correct weight and dimensions. You can also do an Archimedean water displacement test.
The chance of gold coins being faked is substantially higher than silver coins. Anyone that plans to buy gold coins should get a set of the precision coin calipers made by Fisch Instruments of South Africa. It is also wise to invest in an acid test kit that includes a touchstone. |
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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