Bought 50 ounces of Silver @ $11.75/oz.

Just thought I'd share with anyone who cares that I bought silver today over the phone from Northwest Territorial Mint.

If you buy a minimum 50 ounces the spot price was $11.75. Try getting 50 ounces on Ebay for that price.

Only one catch though...it's approximately 10 to 12 weeks before delivery, so I'll be lucky to see it by Christmas!

I bought is as a long term investment so it's no different than holding paper until the product arrives.

Any comments or differing opinions?!?

 

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That's a lot of silver at a good price , and a good move for long term . What would 50 ASE go for ? I'm sure a few dollars an ounce more .
rzage

 

Normally I would be VERY worried if it takes that long to get delivered. However it seems that it's a reputable company and I would doubt that they would fool around with customers' order. Just hope that you or the company doesn't forget about the order. Otherwise I believe it's a good price.

 

Sounds like a decent deal. What do you get for that price? 1 oz bars? 1 oz rounds? 10 oz bars maybe?

 

You can choose whatever you want. I took 20 one ounce bars and three ten ounce bars.

 

get gold

 

What additional fees are involved otherwise? I bought some from a guy on ebay. He claims there's major shipping & handling fees on top of the bullion price.

I can't believe it could take 3 months to get 50 oz. of silver out the door from there. There must be a huge back log. That was a great price to get locked in at.

 

NWT's website states that Shipping & Handling is free in the continental U.S.

 

seems a bit high (am I wrong?)

 

There are no hidden fees or shipping charges.

There is an obvious backlog, in fact just about every site I checked for bullion silver stated that due to high demand shipments may take longer to fill.

 

Would love to...can I buy gold close to spot prices in quarter or half ounces though?

 

I am pretty sure that there is an ETF

 

"I bought is as a long term investment so it's no different than holding paper until the product arrives.

Any comments or differing opinions?!?" One site that i contacted mentioned that they only sell what they physically have. They seem to be very wary of sellers that take future orders. The one problem that i have with it, if silver goes South suddenly your frozen to sell until your order is filled. I'm thinking of purchasing some maple leafs. They carry a $5 face value compared to the ASE's $1 face value. If silver should tank, the extra $4 an ounce might look good! The $5 face limits the downside somewhat. If you figure in the currency difference, it's more like $5.35 face value.

 

wow approximately 10 to 12 weeks before delivery!!! OMG

 

"Biggest Elvis fan" That's sort of relative to the economy right now. It's all shook up!!

 

Hope they have it then, I think that will be a problem for some of these metals brokers, they will NOT be able to deliver on the appointed time, and perhaps even not at all. As in...:vanish:

 

Hopefully, considering the new price moves, you will get delivery.

 

I'll be the third to add that. If it takes that long to deliver it may indicate they need to get it.
Hope you DO get it.

 

The company has been around a long time. There is a high probability that the order will be filled as promised. The purchase should work out well since the current silver price is below the cost of production for Pan American Silver, which is the lowest cost producer in the industry. Either the price will have to eventually rise, or all of the primary silver mines will close.