They had several of these auctions...sold out in 2 minutes or so. If it sounds too good to be true....
Ten dollars is what they should cost. I belonged to a coin club from 1999-2005. Annual dues were $15 and that included a brand new ASE every year! I'm sure they stopped giving those out long ago, which is sad. Let's face it. Silver is and has been way over priced for the last 7-8 years now so it is nice to see a bullion coin priced like it should be.
What would a company do in a case of an error? Do they honor the sales and learn from their mistakes? I hope a few CT members were able to snag a few of these.
Sorry but I cry foul. If Gold is $1300, the silver should be 1/15th of that. On average. That being said, if you know of any mine that can mine silver for $10 an ounce, pm me the details as I need to reallocate my IRA. I can not believe this comment. No ill meant but really?
Try buying anything for the same price you paid back in the late 90's. Gas cost less than $2 a gallon back then and everything was cheaper.
I'm guessing that they were supposed to run a sale where they offered them for $10 off instead of for $10 BIN.
I bought gas for $1.54 a gallon in Utah as recently as January 2009. What's there not to believe? Silver was steady at $3.50-$6 an ounce from 1989-2005. Silver was mined just fine back then. Don't believe those in the silver industry when they tell you silver can't be mined under some ridiculously high amount. They're just being greedy trying to keep the prices high.
So, even if you believe in the ratio thing, how can you possible know if silver is underpriced, or it is Gold that is overpriced???
If currency was stable I would agree...it is not, not even close. Silver $10 is a gift in my mind. I could go into a diatribe but I will not. Most of the Silver is mined as an after thought, Zinc, copper whatever. Here is the the focal point, and these numbers are not accurate but in the ballpark for point of discussion. In years past Gold was mined at 20-40g per ton, now it is less than 10 except for the last of the good mines. China itself purchased the entire world mine production or about 70% of it anyway. That doesn't bear in mind that China is the LARGEST gold producer in the world these days not South Africa. So you are probably wondering why I am talking about Gold and not Silver. Well it is a big picture thing. You see Silver is also an industrial metal, Gold is not. Silver is consumed, Gold is not. I think there is more GOLD in the world today by a factor of at least 5 than silver. Well that is until everyone sells grandma's silverware etc. Investment wise there is around ~100k tons of Gold.....Silver is probably more but not in the markets as of now. If the price corrects, then Silver will come from the wood works. But still so you think there is 100K tons x 15 of Silver out there? I do not. $10 silver is a joke and I am glad it is so low.....15 to 1 is reasonable, at $1300, sliver should be around $86. Am I wrong? Could be but I am an engineer and math doesn't lie..in the big picture.
Right. And I suppose I'm being greedy trying to maximize the items I sell. I hate when the term "greedy" is bandied about.
I'm most conservative too. Still enjoy flying by the seats and hazarding the way unobstructed by so called analysts (anal-ists'?). Fun stuff.....
Ethan, You are going down a bad path, your post is just a regurgitation of things you have read on Silverdoctor.com or some other bullion site from folks whose only purpose is to sell YOU silver. It is just filled with half truths and hyperbole. I'll just tackle one of these for now. Lets look at the grams per ton. First, I am not sure the numbers are true, but lets assume they are. The bullion sellers would like you to believe that proves the quality of the ore is going down as we are running out of Gold. What it more likley represents are the huge advances in technology that allows miners to make a profit on ore that was previously unprofitable. So, what this translates to, is mega tons of MORE ore to go after. This effectively INCREASES the pool of available Gold. As technology continues to improve, there will be even more sources of Gold (possibly seawater for an example) available that futher increases the pool of recoverable Gold.
