/biz/ - Business & Finance

No, I buyeded befor the dip. Fug this.

Brought 2 weeks ago. Shit, maybe I should stock up. By the oz or kg?

Bought ten 2015 American Silver Eagles on the dip. Will buy ten more next month to fill up the roll (the US Mint-issued tube).

Feels good, man.

>>654445

Only 10? Don't tell me you pay sales tax by buying in the amounts less than $1500

no, I only buy moneroj.

>>654192

>dip
>implying

The second the Fed hikes rates, silver will be in the single-digits. Quit being a bag holder and get long UUP instead.

>>654445
are you guys selling these when its higher?

>>654723
I think they will dip more when Greece does agree to a Euro deal.

>>654757

lol, Euro a shit. It's only a matter of time when that house of cards collapses - meanwhile the Swiss are hording precious metals and will come out on top after the crisis, like they always do

>>654711

>Live in NYC borough (Staten Island)
>Don't like having bullion shipped in mail
>Bus, ferry, subway to Manhattan
>Travel to 47th St. Diamond District
>Holy shit, jewelry & precious metal stores up the ass
>Hole in the wall coin shop
>Russian-speaking equivalent of Soup Nazi
>Ask for American Silver Eagles
>"It's $22.00 (spot + $4) per coin
>Have $200+ cash in breast pocket
>Exchange glorified toilet paper for precious metal
>NO SALES TAX, NO PAPER TRAIL, NO QUESTIONS ASKED
>Walk out with Silver Eagles in breast pocket
>Celebrate good fortune at McDonalds nearby on 6th Ave.
>Order 20 McNuggets and large Hi-C
>Finish meal and walk towards 42nd St.
>Joyride on the <7> train with zero fucks given
>Return home with booty
>It was a good day

>>654711

>Live in NYC borough (Staten Island)
>Don't like having bullion shipped in mail
>Bus, ferry, subway to Manhattan
>Travel to 47th St. Diamond District
>Holy shit, jewelry & precious metal stores up the ass
>Hole in the wall coin shop
>Russian-speaking equivalent of Soup Nazi
>Ask for American Silver Eagles
>"It's $22.00 (spot + $4) per coin"
>Have $200+ cash in breast pocket
>Exchange glorified toilet paper for precious metal
>NO SALES TAX, NO PAPER TRAIL, NO QUESTIONS ASKED
>Walk out with Silver Eagles in breast pocket
>Celebrate good fortune at nearby McDonalds on 6th Ave.
>Order 20 McNuggets and large Hi-C
>Finish meal and walk towards 42nd St.
>Joyride on the <7> train to Queens with zero fucks given
>Return home with booty
>It was a good day

Captcha: betan

>>654916

>glorified toilet paper
>buying for 25% above spot
>getting MacDo at the end

Please tell me this is a troll.

>>654735

I plan to use them to buy women folk, after de habbening

>>654941

The expectation is that anyone who purchases American Silver Eagles will pay a premium, starting at least $2.00 over spot for bulk purchases. It may be an obvious disadvantage, but consider this: you're buying a reputable, government-issued bullion coin with a guaranteed assay of .999 fine silver (instead of some generic silver round that originated from somewhere near UpperBaboonAsshole), nominal legal tender status, and high liquidity. Also, the coin dealer has to run a business, you know (overhead, taxes, etc). They'd have to be sniffing glue to sell Eagles at or near spot price and would find their asses out of business pretty damn soon.

"Silver Eagle bullion coins are not sold directly to the public by the United States Mint. In order to provide "effective and efficient distribution, which maximizes the availability of the coins in retail markets as well as major investment markets" the Mint utilizes a network of "authorized purchasers" to distribute the coins. The coins are sold in bulk at a premium ($2.00 per coin effective October 1, 2010) over the spot price of silver."

http://en.wikipedia.org/wiki/American_Silver_Eagle#Distribution

PREMIUMS AND MINIMUMS

"Prices for American Eagles are based on the prevailing price of platinum, gold, and silver, plus a modest premium to cover minting, distribution, and marketing costs. Prices may change on a daily basis, as the platinum, gold, and silver markets fluctuate."

- Silver Eagles

>United States Mint's Authorized Purchasers are charged the price of silver plus $2.00 per coin premium.
>Minimum ordering requirement: 25,000 coins

http://www.usmint.gov/consumer/index.cfm?action=AmericanEagles

tl;dr Supply chain for American Silver Eagles goes like this:

US MINT --> Authorized Purchasers (+$2.00) --> Secondary retail (+$2.00 & sales tax) --> Average Tom, Dick, and Harry Consumer

Stay away from precious metals unless it's platinum right now OP. Put your money in some tech stocks or healthcare REITs. I ain't going to tell you what to pick bwcause I am not a nigger. Do yout own research and stay away from silver

>>655361

I've made like...fiddy bux since yesterday.
Don't tell me what to do.

so I have a good amount of silver to my name now. 215ozt and about 28ozt in 90%. 100 of that is 10oz bars.

My suggestion would be to buy bars. Preferably at least 10ozt. You can find many of them for less than a dollar over. The way I see it, when it comes time to dump my silver, I can just sell in bulk to a refinery or some such shit. If you are looking to be able to liquidate your silver quickly, don't expect to get the premium back.

TL:DR
stop wasting money on pretty pictures and "Limited Mintage" coins. Try, instead, to buy the most ouncedge fo yo dalla.

>>655547
10 oz sunshine mint bars? I like those.

>>654916
Right and you can sell them back to him at $8 under spot.

You got scalped buying and you'll get scalped selling. Why didn't you buy from some guy in an apartment in Staten Island? The same reason no one will buy your silver.

There is no faith left in the market. The Chinese have counterfeited every silver and gold coin ever minted. My prediction: You will carry that trash to your grave, never profiting off it. Your kids will sell it at auction receiving about 50% of it's worth at that time.

>>655649
. . . . they are good, Anon.

>>654192
>$16.50
I won't buy unless the price starts with $14.XX/ozt or lower. I bought at $16.50/ozt when I started, then again shortly after at $16.14/ozt. I had no money left after that and payday was a week away. Then the price dropped to $14.97/ozt and I wanted to high-dive into concrete. By the time payday rolled around it was back to $16/ozt.

Nothing over $15/ozt for me ever again.

>>655654

Samefag from Staten Island here... Awwwww, someone here's jelly that he didn't stack up on a monthly basis while silver was holding steady above the $15 barrier.

pic related for a Happy Lunar New Year special

>>655792
>Engelhard
I'm jelly as fuck. I only have a 1oz prospector round from Engelhard. The rest of my silver's 10oz sunshine bars and 90% US coins.

>>655792
You gotta get the Chinese Pandas to round out those coins.

>>655814
>chinese anything
Spend $25 on a multimeter and 5 minutes on google looking up resistance values of PMs. In fact do this if you're getting into PMs at all.

>>655792

You Chinky assed motherfucka! Yo I be trackin your computer down and Im gunna come for you and your family!!!!!!!! YOUR GONNA GET ROBBED and IMMa sell your shit at the pawn shop so I can get MAD BENNYS Party at the clubs with some HOT BITCHEZ and score some high grade smack from my dealer in Eltingville while your livin a boring life. GO BACK TO CHINA YOU GOOK AND STOP TAKIN OUR JOBS WHILE SPEAKIN THAT CHING CHONG EVERYWHERE IN PUBLIC. THIS IS AMERICA and your free to leave if you cant speak English right>>655792

>>655814
>>655819

Also found some low-tech methods for testing silver: http://www.wikihow.com/Test-Silver

I'm familiar with the "ring" test. What I do is balance a half dollar or silver dollar on my thumb, hold another coin with my opposite hand and then tap the coin in question. Actual silver coins have a distinctive, hearty chime that lasts for a few seconds while a post-1970 cupro-nickel clad half dollar or Eisenhower would just make a thunk.

For shits and giggles, I took some ice from my freezer and place it on top of the Engelhard 10 oz bar. That piece of ice melted faster than the Wicked Witch of the West...

>>655915
>Actual silver coins have a distinctive, hearty chime that lasts for a few seconds
It's beautiful - even the muffled, gleeful 'clink' of silver is much more pleasant than the traditional 'clunk' of basic metals.

>>655654
>There is no faith left in the market. The Chinese have counterfeited every silver and gold coin ever minted.
So the Chinese are counterfeiting things that nobody wants anymore/ can be detected with simple tests?

>>655792

Do lolbertarians honestly not understand that taking pictures of your "stack" totaling $2,000 in value is literally the equivalent of a Redguard-American taking a picture flashing a fistful of twenties and thinking that makes him rich? We're talking an amount of cash that's at most a few weeks wages of somebody with an actual job- it literally just makes you look like a retarded asshat who's foreverpoor and trying to impress his Initernet friends, not to mention who thinks 'investing' in an asset where you think a 25% bid/ask spread is "reasonable" and totally justifiable.

Christ, I swear this board is filled with plebs. We'll be nearing r/silverbug territory at this rate.

>>655654
Actually it is not the chinese who are suspected to have counterfeited gold in huge numbers. I would be very cautious with GLD.

>>655785
pretty smart. Silver is still being shilled to a crazy segment of the population. So the price is still artificially high.
>>654757
Did I fucking call it or what?

>>655938
Who's got the time or desire to figure out if this shit is real or not. This dude makes a point, who's every going to buy this shit from some sketchy apartment dweller

>>655819
>>655915

You guys are retarded if you think any reasonable person is ever going to show up at your house with a multimeter to purchase your coins.

Which way is the Canadian currency going guys?

>>657442
>Who's got the time or desire to figure out if this shit is real or not.
If your in possession of it, I don't see why you wouldn't desire to know your silver asset is genuine. With simple tests like the ring test or the melt test it doesn't take more than a minute and the ring test is actually quite pleasant to listen to.

>>657446
I was suggesting using a multimeter to determine the authenticity of a silver asset by testing it's electrical resistance - enabling the buyer to buy with confidence. I was not suggesting that assayers and appraisers would be knocking down doors with multimeters trying to buy your goods.
Also, >implying I collect silver coins

I bought 25 oz when it as 18, so I'm happy. Using it just as a hedge now

>>657470
The point is that there is a loss of faith amongst the non-multimeter wielding segment of society. The fact that you have to go to that length makes it a bad investment because you are at the mercy of dealers to dispose of your silver. If you think anyone is going to buy your silver for anywhere near the 13% premium you already paid you are dreaming.

The second you purchase physical silver you lose no less than ~25% of your money. That is the point. And that is why the age of physical gold and silver is over forever.

>>657626

Ok, first of all, if I sell 1oz coins back to the dealer, it'll cost me about $1.50 per coin, so whoever is losing 25% on an exchange is a chump. Also, I sold silver on CL and eBay before over spot, so there's that.

>And that is why the age of physical gold and silver is over forever.

you're fucking delusional

>>654192

Bought 10 Red Tails

>tfw bought silver when it was around $26.00

please kill me now

>>657659

Itll hit 49 again one day dont worry. Just hold faggot.

>>657660
>one day

h-how long will it be? I mean yeah I don't intend to sell any time soon. I'm just a little upset I could have bought it a year later for 2/3 the price

>>657662

Next time the economy collapses. Give it 2-5 years til another global meltdown.

The bubbles haven't popped yet.

>>657644
You lost 13% on the purchase alone

>>657662
Never. Silver is highly correlated to the price of oil. The cost per watt from solar has been steadily increasing at 20% per year, how's your math?

>>657662

Never

The price of silver is heavily correlated with the price of oil. The cost per watt from solar has been decreasing at 20% per year for the last several years.

Many are predicting $.06 per kilowatt hour by 2018. That's less than half the price of the cheapest energy sources.

Blah blah industrial uses - this is all bullshit. There was enough silver for most countries to mint ALL their pocket change with it, imagine how much silver that would take compared to the relatively scant industrial uses of today.

>>654192
I just bought today at 16.25. 40 American Eagles.

I buy some each month. I am holding out in hopes the price goes down to 15$ a ounce. I got my taxes back and am hoping to pick up 100 ounces.

>>658708
>100oz
100x1oz pieces, 10x10oz pieces, 1x100oz pieces, or Carl's shoes?

I bought on the pre £10 dip

>>658712
I will most likely get ten of the five ounce bars and five of the ten ounce bars.