A Major Disconnect--Paper Silver Value vs Physical Silver posted by Jackson

[CSJournals-migration]

Does the Wall Street "spot price" even matter any more?

 

It just gets weirder and weirder by the day. Silver value as reported on comex/wall street -etc keeps dropping down toward $20 an ounce--dipping toward $22 today.

 

Yet strangely, physical silver sales are hard to come by and in order to grab some physical silver the costs are closer to $30 an ounce--which is about a 25 to 30% fee per ounce!

 

I understand that the big bullion dealers are trying to cut losses by making up for the drop in comex value with ridiculous mark ups--but this is insane.

 

I'm not 100% sure of how it all works- but I know enough to see that silver (and gold) has been intentionally manipulated to supress its value. JP Moirgan should be under criminal investigation for their antics. Announcements were made for a week ahead of time among the big paper silver holders that a giant sale of shorts was coming up. It was 100% orchestrated and easily provable--yet nobody will even consider anykind of charges against the "too big to fail" crowds...they are now above the law.

 

I won't enter into any postulating or hypothesizing as to why it was done--simple greed is often enough for those folks ( after all, Wall Street continues to set all-time records while on the streets we are seeing all time record homelessness, poverty, food stamp dependence and government dependency just to eat and live by tens and tens of millions of Americans.)

 

Anyone want to explain why it is even legal to buy 5,000 ounces of paper silver for a fraction of the cost? Why can banks sell silver to investors that doesn't even physically exist?...

 

So which one is the true value? On ebay people are still gobbling up silver at around $30 an ounce plus shipping---dealers are back ordering for weeks and weeks the shipping of larger quantities until they can get some in hand. The US Mint reported record silver sales in January and had to even temporarily suspend sales---even I have an on-going ad on moneymarketplace offering $27.50 each for a roll of ASE's ($550)-- that's $5 an ounce above the "spot" price --yet not even a nibble.

 

Things are really, really starting to stink--if it's not Libya lies and scandal, wiretapping and phoneline invasions of the media-Associated Press, the IRS targeting groups to abolish free speech and grassroots patriotism, then it's phony Dow numbers created by the Fed injecting $85 billion per month from the printing presses to Wall Street coffers--(money that the US taxpayers are indebted for)---

 

Sorry, I didn't mean to make this political and I never push for either the red team or the blue team--divided we fall--but all of this madness seems to be getting more inter-twined. We get our daily dose of "Everything is getting better" while 99% of us aren't keeping up with the rising cost of living.

 

As the dollar devalues it was thought that physical holdings might add some mental and financial security--if not to make profit, then at least to tread water against true inflation of 14% the past 3 years-- yet even these safe havens are being manipulated...

 

Okay, vented my frustration, confusion and yes-even uncertainty enough...I know, I know..."Here's a quarter, call someone who cares....." right?

 

See more journals by Jackson

[wdrob]

 

You are not alone in the confusion and ambiguity in realized vs reported. Low of about $22.50 today. I wish I understood more about the current administrations monetary policies and correlation with the PM's market. But nothing seems to be acting or reacting normally. Hard to make choices in buying. Maybe all the economics professors will weigh in and give us all insight and direction.

 

[Mr Bo Jingles]

You just have to find the right bullion company to purchase from. Gainesville Coins has raw 2013 ASE's for $26.45 and you can get proof 69's (NGC) from them for $67.46 each.

[wdrob]

I like Gainesville Coin and have done plenty of business with them but I wish they would let up on their shipping and hadling just a bit. By the time I pay $11.99 to $14.99 s/h I could have bought it cheaper at a couple other places.

 

But that is a good price on eagles. I looked around just now and couldn't seem to match it elsewhere at the free s/h sites. But I did find some of those Canadian Bald Eagles in NGC MS70 slabs for $139.00. Grabbed two of those. No s/h fees. Silvertowne was where I got those.

 

 

[stevek426]

I get all my silver eagles from Paradise Mint. Always free shipping. They have their 2013 (W) MS 69 in Early Releases listed today at just $41.99. Free shipping.

[wdrob]

I hear allot of references to Paradise Mint. I think it is time I went and checked them out.

[jimkoin]

I bought (100) ASE's this morning from Liberty Coin and Precious Metals here in Scottsdale, AZ...if at all interested. They were $26.20 and US Minty fresh.

I guess they just purchased (5) monster boxes from someone here in town and lowered their premium to $3.75 over spot to start to unload them. I was even able to specify what years I wanted...(2) 2006, (1) 2007, (1) 2008, (1) 2009

I just checked their site and they are currently $26.45 per....FYI

[wdrob]

I checked out Paradise Mint and that place looks like it has potential. Now I will go and check out that Liberty Coin and Precious Metals. Will not do much good though. I am about busted after buying 2 NGC Slabbed PR70DCAM Cnadain Eagle, 2 PCGS PF70 UCAM Canadian Eagle, and 2 in the OGP from the 7,500 total mintage of this first in the series.

 

That and 20 Maple Leafs that I got in today. But that price on the ASE's makes me tempted to go without eating for a week or so!

 

 

[jackson64]

ty jmkoin..now that is what I was looking for--some raw bullion coins without a 25% mark-up..gonna place my order now..again, thanks everyone

[Six Mile Rick]

I checked out Paradise Mint and that place looks like it has potential. Now I will go and check out that Liberty Coin and Precious Metals. Will not do much good though. I am about busted after buying 2 NGC Slabbed PR70DCAM Cnadain Eagle, 2 PCGS PF70 UCAM Canadian Eagle, and 2 in the OGP from the 7,500 total mintage of this first in the series.

 

That and 20 Maple Leafs that I got in today. But that price on the ASE's makes me tempted to go without eating for a week or so!

 

 

wdrob and others, I will let you in on a clue to even better prices than Paradise Mint!!

 

Lately I have been bidding at their e-bay store and saving $$$. With lower prices and great S &H you can't beat it. They are clearing out their overload!!! GO GET IT !!

 

Rick

[CCcoindude-migration]

The 90% silver coins are way overpriced. Why pay 25-30% over spot for worn coins? I just bought 100 oz of mint fresh silver rounds today from my favorite bullion dealer, nwtmint.com. Check out the "stagecoach silver". Love the design. Anyway, I ordered today when spot silver was $22.14, so I paid $23.54 per coin for each .999 fine 1 oz round. Free shipping, so that is the delivered price. About 5-6% over spot, delivered.

In the mail today were my 3 2013 NGC MS69 silver eagles for my MS69 collection. 2013, 2013(S) and 2013(W). Paid $37.98 per coin at moderncoinmart.com and free shipping, so that's the delivered price. Party on, silver hounds!

[wdrob]

NWTMint... I checked that out a while back and unless you are buying large like you did they send you to the poor mans store where they charge S/H.

 

Rick; Thanks for the tip. Maybe I will reload after a while. I finally decided to send in a 1851 Type 1 Gold Dollar that has some scratches on it and I have been going crazy wanting to submit that thing.

 

After seeing a few on the DLRC Auctions today that had some deep scratches on them and still graded MS62 or MS62 I am hoping I can get mine to go through. They don't look like scratches where someone was trying to clean the coin. They sort of look like scratches where someone found it with a metal detector and scrubbed away some dirt to see what they had found. Don't know how that will be perceived by the graders. The rest of the coins details are fantastic. I am prepared for a details slab but hoping for the best.