Gold and silver prices are down

Anyone catch the cyber Monday contest running at Apmex?

[h=1]20 Tubes for 20 Years Sweepstakes[/h]To celebrate 20 years of the Silver Britannia, APMEX and The Royal Mint are giving one lucky winner 20 tubes of Silver Britannias! Simply purchase any 2017 Royal Mint coin to be automatically entered to win. Purchases made between November 28 and December 26 are eligible. No purchase necessary. See official rules for details.

http://www.apmex.com/cyber-monday?u...cial&utm_campaign=2017silverbritanniagiveaway

One catch is buying on eBay doesn't count as an entry.
 
VetteGirlMA said:
Anyone catch the cyber Monday contest running at Apmex?

20 Tubes for 20 Years Sweepstakes

To celebrate 20 years of the Silver Britannia, APMEX and The Royal Mint are giving one lucky winner 20 tubes of Silver Britannias! Simply purchase any 2017 Royal Mint coin to be automatically entered to win. Purchases made between November 28 and December 26 are eligible. No purchase necessary. See official rules for details.

http://www.apmex.com/cyber-monday?u...cial&utm_campaign=2017silverbritanniagiveaway

One catch is buying on eBay doesn't count as an entry.
Click to expand...

You can fill out the no purchase entryas well.....
 
I just bought another 2017 Gold Eagle from APMEX. No special pricing or anything. I just had the itch. I almost bought an Australian kangaroo for cheaper, but I like the Eagles & Maples. [smile]
 
do you have more info on this 'generic' silver you speak of? are you talking about bard as opposed to coins? i like looking for junk silver in handfuls of coins I find in the junkyard i work at...kind of a hobby I get paid to do! just yesterday i found six nickels and a dime with pre '64 dates. turns out a lot of people just circulate this stuff as normal currency not knowing it's actually worth hanging on to.

enbloc said:
I love the Engelhard Prospectors, well any Engelhard for that matter.
A lot of folks don't like generic silver, but Engelhard is a top tier non-governmental and now defunct refiner who's value is actually increasing.
Many of their bars command a premium over spot due to collectability (like mil-surps.)
Generics, if chosen properly and inspected thoroughly, can add weight to your stack for a few dollars less per ounce and should be considered.
I like to keep about 60/40 Government to generic in my stack. When I need to free up a little silver for cash, I always go to my gennies for quick liquidation.
Some poo poo generics, but if the time ever comes when a $100 bill is worthless, people will take the risk that your generic silver is real over the worthless hundo.

Fear has no place in stacking...
Click to expand...
 
Dakar652 said:
do you have more info on this 'generic' silver you speak of? are you talking about bard as opposed to coins? i like looking for junk silver in handfuls of coins I find in the junkyard i work at...kind of a hobby I get paid to do! just yesterday i found six nickels and a dime with pre '64 dates. turns out a lot of people just circulate this stuff as normal currency not knowing it's actually worth hanging on to.
Click to expand...

A good way to get a feel for this is to look at Boston Bullion's website, specifically their buy and sell price lists. They typically will pay $1 over spot for Eagles, Maples, etc... (coins) and $1 under spot for generic rounds (APMEX, Sunshine, etc...) This generally works out about even, as rounds sell for ~$1 over spot and coins sell for ~$3 over spot, but there are always deals that change this as well.

http://bostonbullion.com/BuyPrices.bb

This works if you are selling during 'normal' times. Some folks are afraid that they will be selling or trading silver during Mad Max days, and they want coins that are widely recognized. Other people think that an ounce of silver will have the same value in Mad Max days whether it is a round shaped like a poker chip, or an American Eagle.

I think it's best to just buy when you see a great deal (low spot price combined with a good deal on either generic or coins) and just start accumulating.

Good luck
 
cockpitbob said:
What are the common ways of liquidating silver bars and rounds? So far all I've done is buy.
Click to expand...

When I bought my new house last year, I sold about a thousand ounces of silver to Boston Bullion. I sent them a list of what I wanted to sell, and I had made up a spreadsheet based on their listed pricing. I arranged a time to go meet him, he tallied it all up, and did a wire transfer a couple of days later. They actually paid me a bit more than I expected based on their list.
 
mclina said:
When I bought my new house last year, I sold about a thousand ounces of silver to Boston Bullion. I sent them a list of what I wanted to sell, and I had made up a spreadsheet based on their listed pricing. I arranged a time to go meet him, he tallied it all up, and did a wire transfer a couple of days later. They actually paid me a bit more than I expected based on their list.
Click to expand...
Thanks! I'm not real far from them too.

As a rule of thumb, if I were to buy $1,000 of silver bars and then sell them when the spot price is the same, about how much to I loose?
 
cockpitbob said:
Thanks! I'm not real far from them too.

As a rule of thumb, if I were to buy $1,000 of silver bars and then sell them when the spot price is the same, about how much to I loose?
Click to expand...

If you were to directly flip $1,000 worth of silver, you would lose about $2 per ounce. At today's rates, that's around 50 ounces of silver, so about $100.

It's always best to buy low and sell high. You heard it here first. [grin]
 
mclina said:
When I bought my new house last year, I sold about a thousand ounces of silver to Boston Bullion. I sent them a list of what I wanted to sell, and I had made up a spreadsheet based on their listed pricing. I arranged a time to go meet him, he tallied it all up, and did a wire transfer a couple of days later. They actually paid me a bit more than I expected based on their list.
Click to expand...
I tried to sell a couple of ounces of gold to Boston Bullion a few years ago, but they wanted my ID to put me on a list. I have purchased most of my PMs from them using cash, and they only know me by my first name,so I was some what surprised. I ended up posting them for sale in this thread, and I sold them within a few days.
 
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enbloc said:
This is why it is critical, in my opinion, to foster relationships with local vendors as well as the on-line giants.


If you visit (and buy from) Boston Bullion a few times, use only cash and have a pleasant demeanor you'll find he won't need your ID anymore. [wink]

I've been doing business with Boston Bullion for a long time, since way back when he was using his buddy's conference room in Arlington as a shop,
I have always paid him cash, and he has known me only by my first name. That is why I was surprised when one of Ken's employee's said that they couldn't purchase my gold without an ID. It might have something to do with a local bylaw aimed at pawn shops,although Burlington doesn't have any pawn shops.
Click to expand...
 
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Co-worker wants to unload some Canadian Maple Leafs with commemorative tanks on it he boughy last year. 50,000 pcs minted. Said they are going for $34/ oz. He'll give them to me for $25. Needs to get some money for advertising. Good deal?
 

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