Silver breaks $40

On Apr 9, 8:34*am, "Beanie" wrote:
"Frank Provasek" wrote in message

...Also the police would regularly come in with a report of someone

having "3 rolls of silver halves" stolen,
and if they could find 3 rolls of silver halves that we had purchased
in the last 30 days, even from different people (we had to record
their drivers license numbers and items in a log book) THAT MUST BE
THEM they would just TAKE them with no reimbursement to us.

I think Frank is prevaricating again.

Frank can't tell the difference.

oly

"oly" wrote in message
...
On Apr 9, 9:18 am, "Bremick" wrote:
"oly" wrote in message


Please note that I'm not mad at you, Mr. R., just concerned. Many of
my good friends are older than me and they aren't prepared for
anything besides absolutely perfect sunny economic weather!!!

(are you suggesting that my govt annuity is in danger? My 401k
equivalent? You're sounding like an insurance salesman.)

Other asides:

Silver has risen about 85% since last June (2010). Other than use a
small amount to take a good long-distance vacation, I think I will
hold my PMs very closely at this time.

(My last purchase in Nov 2009 was at $18.00. Today it's closing in
on $41. I like that percentage better.)

Yes, I have put some additional stuff in the pantry lately. Prices at
Wal Mart have risen shockingly since last fall!!!

(My pantry is stocked, too. But I haven't considered installing a
bunker.)

Glen Beck doesn't register with me. Beck is too young and flighty to
take seriously. Anyway, I prefer my Mormons more of the Howard Ruff
variety.

(too bad Beck isn't going farther away. Although I do admire the
Mormons' survival preparation doctrine, it's not quite my thing.)

In article
,
Peter wrote:

[snip]

Does anyone know what the loss (fee) is to melt 90% coins or 92.5%
coins or flatware (sterling)?

One dealer I spoke with mentioned that if he give either to a smelter,
he gets 90% of the actual silver value. I suspect that he deals in
modest quantities and it might depend on quantity. I guess I am
curious how accurate his answer is.

Depends on the refiner.

There's one here in the San Francisco Bay Area that pays ninety
perzent of melt for silver (minimum .800 fine average), melts
it on-site and pays you within ah hour.

You can do better (ninety-five perzent of melt) if you ship
it to a refinery in Texas, but of course you have to mail it
and wait for a check.

Both have 100 troy ounce net silver weight minimums, and only
deal "with the trade", not with the public.

--
Ken Barr Numismatics * * * *email:
P. O. Box 32541 * * * * * * website: *http://www.kenbarr.com
San Jose, CA *95152 * * Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 * ** NEXT SHOW: Santa Clara, Apr 15-17 table 437 w/Mac's Coins

In article ,
sterrys@ no.spam.sbcglobal.net wrote:

On 8-Apr-2011, oly wrote:

On Apr 8, 11:46*am, "Beanie" wrote:
Silver and gold are up again.
Gold is reaching record highs and silver seems poised to take off
to.....
$100/oz?

Should one wish to "cash-in", then the problem is, of course, finding
a buyer who doesn't insist on paying $10 back-of-spot.

oly

A local coin store that has established a gold/silver exchange is buying
.999 silver at spot and selling at + 3.2%. ASE buying at +1.05 % and selling
at + 1.22%. KR buying at spot and selling at +3%. They don't look too bad.

Please identify the shop that sells silver eagles at spot plus
1.22 perzent. I wanna buy several thousand of them at that price...

A .17 perzent markup on a $41 item is about seven cents per unit ...
I'm amazed they can make any money at that rate. And why would
they have a 3.2 perzent spread on .999 rounds, a 3 perzent spread
on Rands, but only a .17 perzent spread on silver iggles??

Something ain't right here ...

--
Ken Barr Numismatics * * * *email:
P. O. Box 32541 * * * * * * website: *http://www.kenbarr.com
San Jose, CA *95152 * * Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 * ** NEXT SHOW: Santa Clara, Apr 15-17 table 437 w/Mac's Coins

On Apr 9, 1:53*pm, Ken Barr wrote:
Please identify the shop that sells silver eagles at spot plus
1.22 perzent. *I wanna buy several thousand of them at that price...

A .17 perzent markup on a $41 item is about seven cents per unit ...
I'm amazed they can make any money at that rate. *And why would
they have a 3.2 perzent spread on .999 rounds, a 3 perzent spread
on Rands, but only a .17 perzent spread on silver iggles?? *

Something ain't right here ...

--
Ken Barr Numismatics email:
P. O. Box 32541 website:http://www.kenbarr.com
San Jose, CA 95152 Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 *NEXT SHOW: Santa Clara, Apr 15-17 table 437 w/Mac's Coins- Hide quoted text -

- Show quoted text -

Tulving's latest quotes

Buy @ $1.70 Per Coin Over Spot
Sell @ Spot + $2.49 Per Coin

On Apr 9, 1:37*pm, Ken Barr wrote:
In article
,

*Peter wrote:

[snip]



Does anyone know what the loss (fee) is to melt 90% coins or 92.5%
coins or flatware (sterling)?

One dealer I spoke with mentioned that if he give either to a smelter,
he gets 90% of the actual silver value. *I suspect that he deals in
modest quantities and it might depend on quantity. *I guess I am
curious how accurate his answer is.

Depends on the refiner. *

There's one here in the San Francisco Bay Area that pays ninety
perzent of melt for silver (minimum .800 fine average), melts
it on-site and pays you within ah hour. *

You can do better (ninety-five perzent of melt) if you ship
it to a refinery in Texas, but of course you have to mail it
and wait for a check. *

Both have 100 troy ounce net silver weight minimums, and only
deal "with the trade", not with the public.

--
Ken Barr Numismatics email:
P. O. Box 32541 website:http://www.kenbarr.com
San Jose, CA 95152 Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 *NEXT SHOW: Santa Clara, Apr 15-17 table 437 w/Mac's Coins

That S.F. smelter sounds like a very good outfit, simple policy, quick
pay - too bad they are so far away. They must be able to do some form
of accurate assay in-house?

oly

On Apr 9, 2:37*pm, Ken Barr wrote:
In article
,

*Peter wrote:

[snip]



Does anyone know what the loss (fee) is to melt 90% coins or 92.5%
coins or flatware (sterling)?

One dealer I spoke with mentioned that if he give either to a smelter,
he gets 90% of the actual silver value. *I suspect that he deals in
modest quantities and it might depend on quantity. *I guess I am
curious how accurate his answer is.

Depends on the refiner. *

There's one here in the San Francisco Bay Area that pays ninety
perzent of melt for silver (minimum .800 fine average), melts
it on-site and pays you within ah hour. *

You can do better (ninety-five perzent of melt) if you ship
it to a refinery in Texas, but of course you have to mail it
and wait for a check. *

Both have 100 troy ounce net silver weight minimums, and only
deal "with the trade", not with the public.

--
Ken Barr Numismatics email:
P. O. Box 32541 website:http://www.kenbarr.com
San Jose, CA 95152 Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 *NEXT SHOW: Santa Clara, Apr 15-17 table 437 w/Mac's Coins

Thank you.

On 9-Apr-2011, Ken Barr wrote:

A local coin store that has established a gold/silver exchange is buying
.999 silver at spot and selling at + 3.2%. ASE buying at +1.05 % and
selling
at + 1.22%. KR buying at spot and selling at +3%. They don't look too
bad.

Please identify the shop that sells silver eagles at spot plus
1.22 perzent. I wanna buy several thousand of them at that price...

A .17 perzent markup on a $41 item is about seven cents per unit ...
I'm amazed they can make any money at that rate. And why would
they have a 3.2 perzent spread on .999 rounds, a 3 perzent spread
on Rands, but only a .17 perzent spread on silver iggles??

Something ain't right here ...

Damned decimal places will screw you up every time. I can see where I
screwed up but am too tired to correct it. The actual figures were with
silver at $40.20, ASE buy/sell was 42.00/44.75. 999 fine was buy/sell
40.20/41.50. KR with gold at $1470.00, buy sell was 1470.00/1508.00.

Will try to do better next time.

In article ,
sterrys@ no.spam.sbcglobal.net wrote:

On 9-Apr-2011, Ken Barr wrote:

A local coin store that has established a gold/silver exchange is buying
.999 silver at spot and selling at + 3.2%. ASE buying at +1.05 % and
selling
at + 1.22%. KR buying at spot and selling at +3%. They don't look too
bad.

Please identify the shop that sells silver eagles at spot plus
1.22 perzent. I wanna buy several thousand of them at that price...

A .17 perzent markup on a $41 item is about seven cents per unit ...
I'm amazed they can make any money at that rate. And why would
they have a 3.2 perzent spread on .999 rounds, a 3 perzent spread
on Rands, but only a .17 perzent spread on silver iggles??

Something ain't right here ...

Damned decimal places will screw you up every time. I can see where I
screwed up but am too tired to correct it. The actual figures were with
silver at $40.20, ASE buy/sell was 42.00/44.75. 999 fine was buy/sell
40.20/41.50. KR with gold at $1470.00, buy sell was 1470.00/1508.00.

Will try to do better next time.

Not a problem ... just too bad for us that there's no source of
silver iggles at spot plus 1.22 perzent ...

The quoted spread (buy at spot plus 4.5 perzent, sell at spot
plus 11 perzent) is fairly typical for small quantities. The
buy prices is actually higher than most wholesalers, but the
sell price is higher as well. I can usually sell roll quantities
to the wholesalers for around spot plus 3 and buy them from the
wholesalers for spot plus 8, with a tighter spread on box lots.

--
Ken Barr Numismatics * * * *email:
P. O. Box 32541 * * * * * * website: *http://www.kenbarr.com
San Jose, CA *95152 * * Coins, currency, exonumia, souvenir cards, etc.
408-272-3247 * ** NEXT SHOW: Santa Clara, Apr 15-17 table 437 w/Mac's Coins

On Apr 9, 10:18*am, "Bremick" wrote:


* * (Oil has gone up ever since I recall 15 cent gasoline in the 1950's.
Imagine the thought back then of gasoline at $1.00 !! * We seemed to have
survived quite well over the past * * 60 years as gasoline climbed along
with wages. *Better stock up on soup cans.)

Couple of gasoline related memories.

To help pay my tuition in college I worked at a Sunoco gas station.
There were 5 Sunoco stations in town and a few other major brands as
well. Along came a renegade no-name gas station where you pumped the
gas yourself...unheard of in the late 1960's. They of course had lower
prices, which set off a gas price war. I remember that our lowest
priced gas was known as '190', and we were selling it for 25.9¢ per
gallon, but ended up matching the pump it yourself price of 17.9¢.
Back in those days there were basically 2 ways of buying gas. "Fill
'er up" or "$2 please".

I was laid off the day before Christmas 1973 during the OPEC oil
embargo. On New Years Day, 1974 most gas stations were closed for the
holiday, but I found one that was open and was shocked at the price. I
remember saying out loud "Nobody is going to pay 60¢ a gallon!" I also
remember that I was making a pretty good wage before I was laid off
too, $4.55 per hour!