Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. sakata

    sakata Devil's Advocate Supporter

    I think that unless I were a fulltime dealer with access to a regular turnover I would not want to try to set up a dealer table until I had a significant equity in what I had to offer.
     
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  3. Clawcoins

    Clawcoins Well-Known Member

    Your wish is my command ...
    [​IMG]
     
  4. SLACKACTION

    SLACKACTION UNION REPRESENTATIVE

    ole wise one........ make it an.. even 20 please....got two wishes left...
     
    Johndoe2000$ likes this.
  5. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Yes, I know this will fall on deaf ears , but I would suggest if it hits $20 , sell all you intend for 6 months and buy 'paper silver, ~either a straddle , or individual put/call at about that point (20) as it could go either way , IMO, of course since I have no wishes left :)
     
    abuckmaster147 likes this.
  6. abuckmaster147

    abuckmaster147 Active Member

    I need some explaining to me? Why buy ASE's when from what provident says you will loose $1.70 for buying just say 6 2017 coins free ship, per coin.
    But if you were to buy say 6 liberty bell stackables you will loose $1.69 per coin?
    So what is the big Gotta have ASE's deal? I admit I have collected one per year but all my other silver purchases have been generic, Well besides my one a year RCM and Panda.
    JON
     
  7. sakata

    sakata Devil's Advocate Supporter

    You never lose anything until you sell it. So what does it mean to say "you will lose $1.70"? How do you know what it will sell for?
     
    Seattlite86 likes this.
  8. Seattlite86

    Seattlite86 Well-Known Member

    I appreciate your point, but you missed the point of his question, which is essentially: why do ASEs sell for above spot and why are they so popular?
     
    abuckmaster147 likes this.
  9. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    Anybody who thinks an ounce is an ounce is an ounce has never tried to sell any. Government issues just bring more most places. The last time I sold a significant chunk, they were all Canadian Maple Leaves still in the pouches, and I got a significant premium over generic. I assume that's still the case. Got just a tick over $40 each for them, early autumn, 2011.
     
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  10. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    1. Because people will buy them at that margin level. 2. They are considered safer as far as getting what you pay for. Some may feel they are patriotic and that would also play a part. Since most individuals can not purchase large quantities at spot, the difference for processing, ordering, delivery, storage, advertising , salaries, etc. all add a bite.
     
  11. Bman33

    Bman33 Well-Known Member

    The ASE is a beautiful coin which is why I traded all my generic for gold and started stacking ASE's more. I am also going for a set of them. I took care of the 1996 and 1986 right at the get go. The rest of the 1990's ASE will still fetch a premium though. I like government issue more than a junky looking round that sells for $.69-$.99 over melt. You get what you pay for. I know there are some nice looking rounds but those usually cost way more than an ASE per ounce.
     
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  12. sakata

    sakata Devil's Advocate Supporter

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  13. Bman33

    Bman33 Well-Known Member

  14. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    I use a Dansco with my regular ASE's and all the numismatic ones are in OGP. Every one in my Dansco was bought by me IN THE YEAR they were new. No make-ups. It's cool to see the edge toning progression.
     
  15. Bman33

    Bman33 Well-Known Member

    Wish I was collecting them long enough to be able to get the year they were new. I had to pay $30 for my '86 in MS69 and $50 for my '96 in MS65.
     
  16. abuckmaster147

    abuckmaster147 Active Member

    So as they grow older they are worth more? I will probably not sell the under $1,000 at a time, So just wondering if what they say is their worth for 17 looks the same then? I like collecting them too. But I have always liked generic struck from a reputable mint bar, or round Ten ounces down. And I usually do not buy any specialty unless its for a gift. So will if I decide to sell someday be out a lot more $ that way?
    JON
     
  17. V. Kurt Bellman

    V. Kurt Bellman 2016 Secretary, Red Rose CC

    No, the 86 and the 96 just happen to be the ones with the highest premium.
     
    SLACKACTION likes this.
  18. crazyd

    crazyd New Member

    I have a complete collection of Proof and BU ASE's for every year, and in many instances multiples for each year. I just like collecting them but they do carry a high premium over spot. I also like Maples and some other silver Canadians. Good discussion.
     
  19. Clawcoins

    Clawcoins Well-Known Member

    on Provident they have a "Buy Back price" which he may be referring to.
    So if you buy an ASE for $18 they immediate Buy Back price could be $16.30.
    I've bought some ASEs, just to have the price go up and the buy back price *above* my purchase price a few times before they shipped them out. Of course I kept them anyways.

    But if you just sell your ASEs to a LCS they may just give you spot for them. If you read what the dealers do here they mostly give people spot for them.

    It's like anything else. You have to know *where* the market is to buy/sell something to get the best deal in a buying/selling scenario.

    Also, my CU used my ASE collection as part of my asset list in order to approve for a loan. They will *not* do it for misc silver rounds as they know ASEs and not all the misc silver rounds out there. ASEs are a US government guarantee value. Misc silver rounds are not a guarantee of anything. Your better off just buying bars than all those misc rounds.

    Also is silver stays steady for the rest of your life you may break even. Or you may make money depending upon the demand for certain year ASEs. Or if silver drops .. you may loose money. PMs are just that a storage of wealth. It's a hard investment as you've found out the price fluctuates a lot up and down and not by much and you can lose money dependent upon everything .. or make money.
     
  20. abuckmaster147

    abuckmaster147 Active Member

    Yes Providents buy back price is what I was referring to. So what keep stacking ten ounce bars or just buy like 6 ase's at a time on sale and low spot? OR should I take what I have now and use the oxy acetylene torch and make them all into kilo's ;):woot:
     
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  21. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    I kinda like the kilo idea.:bored::)
     
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