Jump to content

Recommended Posts

...

If silver goes down anymore they will be doing 2 for 1's at Tesco's soon :blink:

Barratt's will build houses with driveways made of 100oz silver bars. Electrical wiring will be 24K gold. Doors will be diamond encrusted, on the outside.

 

Silver Sammy reckons we'll go to $4. What would that do to your innards?

I'd max out the credit card in that case. My guess is, at $4 there wouldn't be any physical available. Just paper. :lol:

Share this post


Link to post
Share on other sites
Silver Sammy reckons we'll go to $4. What would that do to your innards?

 

I'm still waiting for the price to drop as low as possible before guying more. $4 would be fine!

Share this post


Link to post
Share on other sites

Has anyone here dealt with CoinInvestDirect.com, I am looking at there 1KG Heraeus silver bars currently at £300 which seems cheap considering you could probably turn around and sell them on ebay for going on 330-350 it seems, if anyone has brought from them did you experience any wait for the silver?

 

Does anyone have an opinion on the bars? or just any opinions on CoinInvestDirect?

Share this post


Link to post
Share on other sites
Has anyone here dealt with CoinInvestDirect.com, I am looking at there 1KG Heraeus silver bars currently at £300 which seems cheap considering you could probably turn around and sell them on ebay for going on 330-350 it seems, if anyone has brought from them did you experience any wait for the silver?

 

Does anyone have an opinion on the bars? or just any opinions on CoinInvestDirect?

I bought from them before. Smooth service, prompt delivery. No problems. I bought coins, no bars.

Share this post


Link to post
Share on other sites
Has anyone here dealt with CoinInvestDirect.com, I am looking at there 1KG Heraeus silver bars currently at £300 which seems cheap considering you could probably turn around and sell them on ebay for going on 330-350 it seems, if anyone has brought from them did you experience any wait for the silver?

 

Does anyone have an opinion on the bars? or just any opinions on CoinInvestDirect?

 

A lot of people here have bought from them.

 

I placed my first order at the weekend. They’ve been dead good so far. I haven’t got my coins yet because I asked them to hold the delivery for a month.

 

Share this post


Link to post
Share on other sites

Hi,

 

Is there any price people here feel that Silver must stay above to avoid complete meltdown Silver Sammy style? Or, put another way, is there a price people would set a stop loss at for their now in-the-red ETF investments?

 

NO PM-bug comments please - I'm happy to be invested in PMs generally and am heavily so, but not necessarily at each and every moment of a roller-coaster ride.

Share this post


Link to post
Share on other sites

I know some people are buying silver coins just in case they need them to buy food if TSHTF.

Gold is too expensive for that, and if things do get that bad, it'll be far too expensive for that.

A 1oz silver coin if it goes up 10x would still be OK for a big weekly shop.

 

So for that reason, IMO silver is very likely to become used as money, and more so than gold.

 

Share this post


Link to post
Share on other sites
I know some people are buying silver coins just in case they need them to buy food if TSHTF.

Gold is too expensive for that, and if things do get that bad, it'll be far too expensive for that.

A 1oz silver coin if it goes up 10x would still be OK for a big weekly shop.

 

So for that reason, IMO silver is very likely to become used as money, and more so than gold.

 

Fair point. For the few G&S coins I've bought, that's kind of how I've figured them.

 

But that will only really apply in the case of a fairly catastrophic SHTF scenario (paper money becomes worthless and unacceptable) - and I feel if things develop that way there's only a very slim chance of an ad-hoc PM currency system becoming established and functioning in the probable chaos that will ensue. (I doubt we could all get along so amicably.)

 

 

Will silver be recognised and act as money in terms of a 'store of wealth' - I guess that's my real concern here. I don't think it's looking that way at the moment - in comparison to gold or fiat.

Share this post


Link to post
Share on other sites

TED BUTLER COMMENTARY

September 9, 2008

The Speed Of Sound

By Theodore Butler

http://www.investmentrarities.com/weeklyco...ry09-09-08.html

 

(This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.)

 

Financial and market developments seem to be rushing by at unworldly speed. Government bailouts, unprecedented market turmoil, non-stop conflicting commentary. It’s hard to comprehend everything, much less write about it. At the same time, the turmoil creates opportunities like never before. I’m an old hand with silver, yet it is beyond extraordinary to see plummeting prices amid a shortage. I know full well the reason for this apparent impossibility, but witnessing it is still incredible.

 

At exactly the same time silver is falling sharply in price, the physical demand has never been stronger. On the retail investment side, delays in delivery are longer and premiums are higher than ever before. This is a set of circumstances no one has ever witnessed. In fact, the opposite was supposed to happen when silver recently climbed into double digits. Silver would supposedly come out of the woodwork. No one predicted silver would be so hard to find. In spite of ramping up production, the US Mint can’t keep up with demand for Silver Eagles, for the first time in history.

 

The holdings in public and institutional silver vehicles are at all time records with no inventory liquidations recorded on the price decline. From the top of the market in July, silver is down near 40%, yet the big ETF, SLV, has increased its holdings by 5%, or 10 million ounces, to 210 million ounces. Over that same time, the big gold ETF has witnessed a near 10% liquidation in ounces, down 2 million ounces, or more than $1.5 billion. Yet gold has been stronger in price than silver. The law of supply and demand has apparently been turned on its head with silver.

 

Share this post


Link to post
Share on other sites
Fair point. For the few G&S coins I've bought, that's kind of how I've figured them.

 

But that will only really apply in the case of a fairly catastrophic SHTF scenario (paper money becomes worthless and unacceptable) - and I feel if things develop that way there's only a very slim chance of an ad-hoc PM currency system becoming established and functioning in the probable chaos that will ensue. (I doubt we could all get along so amicably.)

 

 

Will silver be recognised and act as money in terms of a 'store of wealth' - I guess that's my real concern here. I don't think it's looking that way at the moment - in comparison to gold or fiat.

 

I think it's easy to confuse short-term moves with the long-term trend.

Silver is more volatile than gold. It just is. So you'd expect it to fall more.

 

But, when they start going back up. Note when, silver will be going up much faster than gold.

 

IMO better to look at what people are actually doing, not the paper price.

Hence see above article :D

 

Share this post


Link to post
Share on other sites
I think it's easy to confuse short-term moves with the long-term trend.

Silver is more volatile than gold. It just is. So you'd expect it to fall more.

 

But, when they start going back up. Note when, silver will be going up much faster than gold.

 

IMO better to look at what people are actually doing, not the paper price.

Hence see above article :D

 

Yes, WHEN along with IF are hard words to live with!

 

Re. silver performance, I've looked at the graphs and seen how silver typically over-emphasises golds actions - but does it always do that? - and past performance doesn't always dictate future - particularly during times of radical change.

 

Re. shortages in silver, they seem real but only, from what I gather, when it comes to retail investment amounts and coinage. There seems to be lots of headlines on 'shortages' but when it comes to other areas of the silver trade (the vast majority amount-wise, I'm sure) there's apparently no shortage - eg. James Turk's comments on 1000oz bars. (So the majority of real physical silver is still selling at spot price.) The shortages seem more down to a hold up in distribution and processing then base supply. (Maybe PM retail traders balance sheets too.)

Share this post


Link to post
Share on other sites
............

At exactly the same time silver is falling sharply in price, the physical demand has never been stronger. On the retail investment side, delays in delivery are longer and premiums are higher than ever before. This is a set of circumstances no one has ever witnessed. In fact, the opposite was supposed to happen when silver recently climbed into double digits. Silver would supposedly come out of the woodwork. No one predicted silver would be so hard to find. In spite of ramping up production, the US Mint can’t keep up with demand for Silver Eagles, for the first time in history.

 

The holdings in public and institutional silver vehicles are at all time records with no inventory liquidations recorded on the price decline. From the top of the market in July, silver is down near 40%, yet the big ETF, SLV, has increased its holdings by 5%, or 10 million ounces, to 210 million ounces. Over that same time, the big gold ETF has witnessed a near 10% liquidation in ounces, down 2 million ounces, or more than $1.5 billion. Yet gold has been stronger in price than silver. The law of supply and demand has apparently been turned on its head with silver.

 

Maybe, just maybe, normal rules of supply and demand have been re-established, not turned on their head. :unsure:

 

Speculators tend to use paper, whereas the reason silver is mined is to satisfy physical demand (industrial demand, jewelry and coin collectors). Of course physical demand is increasing, now the "price is right". I would imagine that physical demand has been "pent up" due to the "excessive" valuations seen a few months ago. But the speculative demand required to push PMs above the prices that physical buyers will tolerate seems to have evaporated.

 

Just a theory........

Share this post


Link to post
Share on other sites

I'm not sure anyone has really answered Wanderer's question. Is there any evidence for the contention that if silver falls below $10, say, that we'll suddenly see it plunge to $6?

 

While I'm probably more willing than 95% of the general public to countenance a SHTF scenario (being told at least twice in recent months that "if the Fed hadn't done such-and-such there'd have been a global systemic meltdown" is enough to make any clued-up person nervous), I have to be honest and say that I still get a Louis Theroux's Weird Weekends survivalist vibe from all this talk of swapping PMs for food. That may be prejudice on my part. I might be eating my words if the S finally does HTF. But I'd be interested to hear a more technical argument for what is likely to happen next (preferably before 1.30pm or 4.30pm).

Share this post


Link to post
Share on other sites
...

I'd max out the credit card in that case. My guess is, at $4 there wouldn't be any physical available. Just paper. :lol:

 

Do you know of a dealer that accepts credit card payments or do you balance transfer to your current account?

 

Share this post


Link to post
Share on other sites
Drop Steve Netwriter a line. You can't do it yourself - see here: http://www.greenenergyinvestors.com/index....ost&p=57230

 

I'm going to do that. needmorespace is my slave name! I'm going to take a new one, like Malcolm X.

 

I'm also going to buy some gold sovereigns from coininvestdirect.com. No VAT on purchase, no CGT on sale and less than 5% below spot.

Share this post


Link to post
Share on other sites
Do you know of a dealer that accepts credit card payments or do you balance transfer to your current account?

thesilverexchange.com allegedly accepts credit cards. I would possibly just start paying all running expenses with the CC and average in. Anyway, we're not there yet, and I might actually not do it anyway if IRs are forbiddingly high. It was more of a joke.

Share this post


Link to post
Share on other sites
thesilverexchange.com allegedly accepts credit cards. I would possibly just start paying all running expenses with the CC and average in. Anyway, we're not there yet, and I might actually not do it anyway if IRs are forbiddingly high. It was more of a joke.

Just a thought, but why would a silver merchant want to accept cash for silver if they thought there was going to be a massive inflation? Why not just lock the doors and sit in the vault with the inventory waiting for D-Day? :P

 

Share this post


Link to post
Share on other sites
I'm not sure anyone has really answered Wanderer's question. Is there any evidence for the contention that if silver falls below $10, say, that we'll suddenly see it plunge to $6?

 

yes, silver to $6 is possible under this conditions:

USD to 86

gold/silver ratio to 100 (currently 70, and increasing fast)

gold to 600

 

i don't think this would happen next week, i guess it is possible on a spike right before the elections.

Share this post


Link to post
Share on other sites
thesilverexchange.com allegedly accepts credit cards. I would possibly just start paying all running expenses with the CC and average in. Anyway, we're not there yet, and I might actually not do it anyway if IRs are forbiddingly high. It was more of a joke.

 

I’ve got a cashback credit card. I was thinking that I could buy silver, get the cashback and use it to buy more silver.

 

Looking at the prices, it’s not really going to work out for me. Coindirectinvest is a bit cheaper once you add on the UK VAT

 

http://www.thesilverxchange.com/

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×