silver

  • Thread starter Thread starter morganist
  • Start date Start date
M

morganist

is silver cheap at the moment. i saw someone say it was at its highest but the charts say otherwise am i wrong. is it a good time to buy.

i am talking about bullion.
 
263 pounds for 20 ounces is not a good deal. Silver is 14 bucks per oz right now. I converted your money to dollars and you are paying 21 dollars per oz. So either the guy is trying to rip you off, or you are trying to buy the cutsie fruitsie coins with the little pandas, kangaroos, or koala bears on them. You should only ever buy basic silver rounds. Some people like to pay a little extra for the american silver eagles, but its the same thing...you are paying extra for a name, or design. You want to buy silver for as close to spot rate as you can. Try buying from APMEX.com They have silver rounds for 15 bucks per coin (so times 20 coins divided by 1.63 pound spot rate) = 184 pounds for 20 ounces.
 
Quote from peilthetraveler:

Some people like to pay a little extra for the american silver eagles, but its the same thing...you are paying extra for a name, or design.
More...

No, you are paying for VALIDITY.

Try taking silver shot or gold shot to a refinery and get your money. You will get paid below spot because they have to certify that it is real silver & gold, and not some alloy. Some places will not even accept it.
 
thanks for the replies. in the uk there is a value added tax built in so that is why there is a mark up. also this is the price that i was offered at several jewellers too and is the cheapest i could find even in america minus the mark up that is.

i bought it anyway. i am not necessarily anticipating a profit but to cover against high inflation. at least i can hoc it. the price is also similar to the selling price in the uk due to the value added tax.

anyway i bought it now so i guess it is too late. i also got a 24 oz copper ingot.
 
I wonder how come nobody complains about the large specs

who manipulate silver like a banshee

its not just oil that gets whipped

heck even OJ can be whipped into a smoothie

:p
 
Because manipulating the price of oil is a direct affect on the consumer. John Q. Public goes to the gas station every day. He does not go to the Silver station to complain about how prices in silver are being driven up.
 
My second job is wholesale jewelry/beads, both stone and silver, with varying distributions of my capital dependent upon the price of silver. For me, when it gets to $12.25, I will buy again and if it gets to $10.75, I will buy quadruple that amount.
Regarding silver bullion, I think you should not be paying much of a premium at all as we buy wire and bars in Thailand for less than 2% above spot by the kilo. I have no idea about stateside but Thailand imports its silver and we have mines in the states so...
 
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