Premium on Junk Silver Narrowing

[santafe2]

Re: Premium on Junk Silver Narrowing

[quote=Starving Steve;97545]

I like junk silver, especially good mixes of dates and denominations of junk silver, because silver coin is historic. So it is quite collectable.

With all due respect to iTulip, I'll be nice. No one who has ever actually opened a $1000 bag of US silver would call it collectable. It's holed, dented, worn and otherwise damaged in a way that it is no longer collectable. As these bags have moved through collectors hands over the last 7-8 years, fewer and fewer decent coins have survived.

Junk silver also tends to trade near its bullion content, and for many years, until the current silver insanity, junk silver traded well under silver content.

This is simply untrue for 90% silver. 40% US silver traded at near zero premium when silver approached $4 but has been revived as silver value has moved up.

As for silver as an investment, the only reason why I like silver at this price is because the idiots running the world's central banks--- especially the idiots running the U.S. Federal Reserve--- are determined to inflate their way out of any mess.

Investing here may not be the best advise unless one has no exposure to precious metals.

As for notions that silver has a great industrial demand, those ideas are laughable. Silver is in huge surplus, especially since silver is a by-product (sp?)of copper mining. Also silver is a by-product of lead mining. Also silver is a by-product of gold mining; in fact, silver is a by-product of just about every mining. As a by-product, silver is produced free-of-charge.

I don't even know where to begin with this so I won't go there.

And the demand for silver is gone because of digital photography.

Sorry, would you like to try again? Almost all of the silver used in traditional photography is recycled. And do you know how much of that demand came from photography in the first place? Go crazy on this point, it's an easy one to net-search.

But stupidity always wins, so the central bankers will get their inflation, and silver is headed up, not a lot, but up. It could double in value.... Anything will turn-out to be better than owning paper money, especially Bernanke's play money in the long-run.

We have to get rid of the economists and the ecologists. That is the bottom-line in this discussion.

Yikes, you're a one trick pony. Back to the eco-frauds, (I'm having the tee-shirt made...sorrry no royalties). If i can offer one piece of advise, there's no conspiracy worth following, the conspirators are idiots. The game is so much more complex than that.

[NerdyBoy99]

Re: Premium on Junk Silver Narrowing

Precious Metals that are .999 fine shipped to Canada are not subject to Duty or NAFTA fees or GST.

Canadian Customs Tariff - Schedule (pdf) This publication from the Canadian Border Services Agency contains the section that contains the tariff rates on precious metals products.

A not so small issue is the fact that I have to pay duty taxes if purchased from the US, which would add 13% to any order (5% Federal plus 8% Ontario tax).

So I am basically stuck with Canadian Bullion dealers with poor inventories and larger spreads .

[Starving Steve]

Re: Premium on Junk Silver Narrowing

[quote=santafe2;97551]

With all due respect to iTulip, I'll be nice. No one who has ever actually opened a $1000 bag of US silver would call it collectable. It's holed, dented, worn and otherwise damaged in a way that it is no longer collectable. As these bags have moved through collectors hands over the last 7-8 years, fewer and fewer decent coins have survived.

This is simply untrue for 90% silver. 40% US silver traded at near zero premium when silver approached $4 but has been revived as silver value has moved up.

Investing here may not be the best advise unless one has no exposure to precious metals.

I don't even know where to begin with this so I won't go there.

Sorry, would you like to try again? Almost all of the silver used in traditional photography is recycled. And do you know how much of that demand came from photography in the first place? Go crazy on this point, it's an easy one to net-search.

Yikes, you're a one trick pony. Back to the eco-frauds, (I'm having the tee-shirt made...sorrry no royalties). If i can offer one piece of advise, there's no conspiracy worth following, the conspirators are idiots. The game is so much more complex than that.

Silver used to get used-up, but not anymore. Now silver is recycled and sits around in silver bars. Silver used to be in short supply, but not anymore.

Silver coins used to take a huge silver supply, and silver coins would take silver totally out of supply for about 60 or 70 years. The coins functioned as money.

Silver used to get used-up in photography and X-ray film and disappear. Now everything is recycled.

About the only demand for silver that I would trust to-day is chemical demand for silver, especially in China. There is a growing investment demand for silver worldwide, but silver is being forced up in value by hyper-inflation ( thanks to Bernanke ) and not due to any fundamental need for silver.

As for lumping eco-frauds with economists, I lump them together because of their arrogance, their stupidity, their link to government, and their responsibility for the cost of living (inflation).... Have either ecologists or economists improved the lot of mankind, and the answer is "no". Have either ecologists or economists made life less regulated and simpler for businesses and for people in general, and the answer is again, "no". Do ecologists or economists understand what they profess to understand, and they both, most certainly, do NOT.

Have I ever heard a business-person speak in Greenspanese? Does T. Boone Pickens, for example, speak in Greenspanese? Does Warren Buffet, for example, speak in Greenspanese? Are there any business-people that would tell me that I could not build a garage next to my house ( in an approved subdivision ) because salmon habitat has to be protected from development, even 700 feet above sea level, even next to a ditch, even where no salmon, nor any fish, has ever swum before?... Ten weeks and more than one-thousand dollars later, I got my building permit to build a garage...... This is why I lump ecologists and economists together as a major problem to-day. They are obnoxious, and they are working with government to control people.

"Cap and trade" and "concentrated solar energy" and "break-throughs in photo-voltaics", "building-skinning", "carbon foot-prints", "building foot-prints", etc......... Does T. Boone Pickens talk this language? Do business people speak like this? Do producers who really produce and help the world speak like this? Do people who know anything about what they are talking about speak like this?

Junk silver is a hedge against eco-frauds like David Sazuki and Margaret Atwood. It's a hedge against eco-frauds in government who would tell me how to live and what I can do with my own house. Junk silver is also a hedge against the Ben Bernankes, the Alan Greenspans, the Tim Geithners, and the Larry Summers of this world. It's a hedge against the Bank of Canadas and the Bank of Englands, the Bank of Mexicos, the Bank of Argentinas, and the Bank of Zimbabwes of this world. It's a hedge against "quantitative easing" and "Keynsian economics".... And if you don't really understand this, or this is somewhat difficult for you to grasp, then you should not be buying junk silver at all; just leave your money in the bank.

[metalman]

Re: Premium on Junk Silver Narrowing

[quote=Starving Steve;97633]

Junk silver is a hedge against eco-frauds like David Sazuki and Margaret Atwood. It's a hedge against eco-frauds in government who would tell me how to live and what I can do with my own house. Junk silver is also a hedge against the Ben Bernankes, the Alan Greenspans, the Tim Geithners, and the Larry Summers of this world. It's a hedge against the Bank of Canadas and the Bank of Englands, the Bank of Mexicos, the Bank of Argentinas, and the Bank of Zimbabwes of this world. It's a hedge against "quantitative easing" and "Keynsian economics".... And if you don't really understand this, or this is somewhat difficult for you to grasp, then you should not be buying junk silver at all; just leave your money in the bank.

draw a line from the fraudulent fire econ start with silver $4 and change to today...



finish line? silver = $100+

[LargoWinch]

Re: Premium on Junk Silver Narrowing

NerdyBoy99, virtual hug? (but a manly one)

[santafe2]

Re: Premium on Junk Silver Narrowing

Junk silver is a hedge against eco-frauds like David Sazuki and Margaret Atwood. It's a hedge against eco-frauds in government who would tell me how to live and what I can do with my own house. Junk silver is also a hedge against the Ben Bernankes, the Alan Greenspans, the Tim Geithners, and the Larry Summers of this world. It's a hedge against the Bank of Canadas and the Bank of Englands, the Bank of Mexicos, the Bank of Argentinas, and the Bank of Zimbabwes of this world. It's a hedge against "quantitative easing" and "Keynsian economics".... And if you don't really understand this, or this is somewhat difficult for you to grasp, then you should not be buying junk silver at all; just leave your money in the bank.

I enjoyed your rantastic stream of consciousness but as usual, you missed my entire point. Junk silver is, as its name implies, junk. It is also silver, but it is not the best investment and anyone who has been investing in silver knows this. You get a 10 for well aimed bluster and hyperbole but 1 for your market knowledge

Silver used to get used-up, but not anymore. Now silver is recycled and sits around in silver bars. Silver used to be in short supply, but not anymore.

I really wish you'd take the time to research something, anything before you blather on about things you know nothing about. The Alice in Wonderland world of silver you describe is 180 degrees off and you'll likely give new investors the wrong idea with regard to investing in this commodity. And it goes without saying that if this were true the rest of your "buy junk silver" thesis is, well, junk.

Silver has been in massive supply since the late 1800s when the Comstock Load was discovered in Nevada and the US government mandated the purchase and minting of silver coins in the Bland-Allison Act. That government hording and oversupply of silver has ended. There is in fact a reasonable balance of supply and demand over the last few years.

In the short to mid term, silver prices will likely be under pressure as the world economy is not poised to recover any time soon. Long term, it's uses in electronics and other industries will continue to grow and its production, like that of most commodities, will be stressed to keep up.

Silver, like most commodities, is a good long term investment. It is not currently in over supply or it would not be 3X higher than it was 5 years ago and junk silver is not an excellent investment vehicle.

[wayiwalk]

Re: Premium on Junk Silver Narrowing

The only sense to me for junk silver is to have on hand as insurance following a complete meltdown of the US $ system, you have coins that will be recognizeable by the general public as "real money" that could be used for trade.

So I see having a limited amount of junk silver in the form of us coin around (say enough in face value to purchase food supplies for a number of months) as insurance only for that remote, although not entirely impossible scenario.

I do have a question for silver buillion (and other metals) in which metals/forms - are these purchases reported to the US gov't?

[shiny!]

Re: Premium on Junk Silver Narrowing

I do have a question for silver buillion (and other metals) in which metals/forms - are these purchases reported to the US gov't?

Daily cash transactions under $10,000 aren't reported to the federal gov't. Some states charge sales tax on gold and silver purchases, others don't. Buy from a local coin shop and pay cash.

Go here and scroll down to the sections called: Reportable Purchases, Bank Reporting, Reportable Sales

I don't have any ties to this company and am not endorsing them. There's good information on their site, though.

[Starving Steve]

Re: Premium on Junk Silver Narrowing

Daily cash transactions under $10,000 aren't reported to the federal gov't. Some states charge sales tax on gold and silver purchases, others don't. Buy from a local coin shop and pay cash.

Go here and scroll down to the sections called: Reportable Purchases, Bank Reporting, Reportable Sales

I don't have any ties to this company and am not endorsing them. There's good information on their site, though.

Silver coin needs to be in quite decent shape--- with no holes, no bends, not too worn flat, and not gashed or initialed--- for it to be a junk silver investment of interest to me. Otherwise, if the junk silver is too far gone, it becomes mutilated silver and has to be sent to the refiner, and this costs shipping. Also, when silver is sent to the smelter, the tax man might be watching the invoices, so other issues arise.

I don't like issues. I like a simple life.... I noticed now, thanks to George Bush, we now have passport controls at the U.S. border and apparently upon re-entering Canada as well. If I wanted to live with passport controls, wouldn't Russia have been a better place to retire?

How did Canada and America get so screwed-up?

I just got through filing my U.S. and Canadian income tax. The U.S. tax return was fifty pages. A senior citizen who is starving and a requirement to file 50 pages of paperwork. No business. No nothing. Just a few dollars in oil income trusts and a few tiny capital gains, and 50 pages of reporting to the U.S. and California. Then on top of that, filing in BC and Canada--- a few more pages of work and a fat cheque sent to the Canada Revenue Agency.

Now passport controls. I HATE GEORGE BUSH AND HIS REPUKES! The whole bunch of Republicans in the U.S make me vomit. And the eco-frauds on the West Coast are just as repulsive, or even worse. And these eco-frauds are in Canada, especially here in BC.

I see that Britain won't allow Micheal Savage to even visit Britain. GOOD! Finally, some good news to-day: the biggest hate-monger of them all, Micheal Savage, is barred from the U.K.... Listeners to The Savage Nation on radio in the U.S. know that Micheal Savage has been a proponent of passport-controls, a wall on the U.S. border, and English-only. So now Micheal Savage is barred from entering the U.K.--- which only seems right to me.

Back to the discussion about junk silver, best to live a simple life and stay away from issues, and mutilated silver coin is an issue. I want nice collectable silver coin junk so that I can enjoy looking at it and enjoy spending it when the final collapse of the world economy comes--- and it will, with this quantitative easing thanks to Bernanke and the other central bankers.

When I buy junk silver, I absolutely refuse to pay premiums over melt. I buy well under melt, especially on high markets for silver, and this is a very high market for silver. If coin shoppes can't provide the investments, certainly I can continue to buy my oil income trusts and my nuclear power companies like Duke Energy..... Sometimes coin dealers get attitudes, and I don't like attitudes. There are plenty of good investments everywhere, so I don't need attitudes, nor do you.