Silver breaks $40

Silver and gold are up again.
Gold is reaching record highs and silver seems poised to take off to.....
$100/oz?

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

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.

On Apr 8, 3:18*pm, 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..

Yes, it is my experience that the dealers are mostly working pretty
close on the 1 ounce 0.999+ fine stuff.

OTOH, we have one area coin dealer (with a shop) who tells sellers
"Sterling silver isn't real silver, you know" and he offers 35% of
melt.

NOW, that dealer goes to church every Sunday, same church that I
attend.

Is everything that you've got 0.999+ fine and in even troy ounce
weights???

oly
Plain old 90% U.S. silver coin doesn't require too much haircut,
either.

"oly" wrote in message
...
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
___________

$10 back of spot for silver is criminal. Kitco, for one, offers 24/7 buy
or sell options at up-to-moment spot +/- one percent with a couple mouse
clicks if you open a pool account. As an investor, I don't need actual
coins in my hand to store, mail, or insure. As a collector though, I
wouldn't have it any other way.

On Apr 8, 6:34*pm, "Bremick" wrote:
"oly" wrote in message

...
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
___________

$10 back of spot for silver is criminal. * Kitco, for one, offers 24/7 buy
or sell options at up-to-moment spot +/- one percent with a couple mouse
clicks if you open a pool account. *As an investor, I don't need actual
coins in my hand to store, mail, or insure. *As a collector though, I
wouldn't have it any other way.

At $40, a metal buying dealer might be able to do a Vulcan mind-meld
on himself and convince himself that that's (10 out of 40) a
reasonable percentage.

People can rationalize anything.

If you play paper silver and paper gold games, you're going to find
that you'll be cheated in the end too. Such accounts can be "frozen"
by the government in a "national emergency" and/ or "windfall profits"
taxes imposed. Or the seller of the paper silver or paper gold can go
bankrupt too, in so many different ways. Then you're not talking a
25% loss, but rather worse.

Paper games all look good until they don't. There is nothing new
under the sun.

oly

On Apr 8, 4:26*pm, oly wrote:
On Apr 8, 3:18*pm, 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.

Yes, it is my experience that the dealers are mostly working pretty
close on the 1 ounce 0.999+ fine stuff.

OTOH, we have one area coin dealer (with a shop) who tells sellers
"Sterling silver isn't real silver, you know" and he offers 35% of
melt.

NOW, that dealer goes to church every Sunday, same church that I
attend.

Is everything that you've got 0.999+ fine and in even troy ounce
weights???

oly
Plain old 90% U.S. silver coin doesn't require too much haircut,
either.- Hide quoted text -

- Show quoted text -

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.

"oly" wrote in message
...
On Apr 8, 6:34 pm, "Bremick" wrote:
"oly" wrote in message

...
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
___________

$10 back of spot for silver is criminal. Kitco, for one, offers 24/7 buy
or sell options at up-to-moment spot +/- one percent with a couple mouse
clicks if you open a pool account. As an investor, I don't need actual
coins in my hand to store, mail, or insure. As a collector though, I
wouldn't have it any other way.

At $40, a metal buying dealer might be able to do a Vulcan mind-meld
on himself and convince himself that that's (10 out of 40) a
reasonable percentage.

People can rationalize anything.

If you play paper silver and paper gold games, you're going to find
that you'll be cheated in the end too. Such accounts can be "frozen"
by the government in a "national emergency" and/ or "windfall profits"
taxes imposed. Or the seller of the paper silver or paper gold can go
bankrupt too, in so many different ways. Then you're not talking a
25% loss, but rather worse.
_____________

I'll gladly take that gamble that there will be no "national emergency" that
will prompt the government to "freeze" my account. It's no game, any more
than the stock market is a game. I will also gamble that Kitco will be
staying solvent for at least as long as the bank that I would be storing my
bullion in. I've already taken a tidy 50% profit in my silver pool
investment in one year and am about ready to take another 50% six month
profit. Sounds pretty rational to me with the money in hand and considering
what my initial investment might have yielded otherwise. Those who can't
get past the worry that something catastrophic is due to happen deserve to
enjoy a secure 1% bank interest.

For those who choose to accumulate actual gold or silver bullion, you can
only hope there is a handy buyer waiting to buy your goodies within 1% of
the hourly spot price you've been following. That price may not last if you
have to sell quickly but have to wait until tomorrow to get to your safe
deposit box and then maybe a trip to the post office.
_______________

Paper games all look good until they don't. There is nothing new
under the sun.
______________

Entirely your own choice. I just happen to prefer mine.

On Apr 8, 8:33*pm, "Bremick" wrote:
"oly" wrote in message

...
On Apr 8, 6:34 pm, "Bremick" wrote:





"oly" wrote in message

...
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
___________

$10 back of spot for silver is criminal. Kitco, for one, offers 24/7 buy
or sell options at up-to-moment spot +/- one percent with a couple mouse
clicks if you open a pool account. As an investor, I don't need actual
coins in my hand to store, mail, or insure. As a collector though, I
wouldn't have it any other way.

At $40, a metal buying dealer might be able to do a Vulcan mind-meld
on himself and convince himself that that's (10 out of 40) a
reasonable percentage.

People can rationalize anything.

If you play paper silver and paper gold games, you're going to find
that you'll be cheated in the end too. *Such accounts can be "frozen"
by the government in a "national emergency" and/ or "windfall profits"
taxes imposed. *Or the seller of the paper silver or paper gold can go
bankrupt too, in so many different ways. *Then you're not talking a
25% loss, but rather worse.

_____________

I'll gladly take that gamble that there will be no "national emergency" that
will prompt the government to "freeze" my account. *It's no game, any more
than the stock market is a game. *I will also gamble that Kitco will be
staying solvent for at least as long as the bank that I would be storing my
bullion in. *I've already taken a tidy 50% profit in my silver pool
investment in one year and am about ready to take another 50% six month
profit. *Sounds pretty rational to me with the money in hand and considering
what my initial investment might have yielded otherwise. *Those who can't
get past the worry that something catastrophic is due to happen deserve to
enjoy a secure 1% bank interest.

For those who choose to accumulate actual gold or silver bullion, you can
only hope there is a handy buyer waiting to buy your goodies within 1% of
the hourly spot price you've been following. *That price may not last if you
have to sell quickly but have to wait until tomorrow to get to your safe
deposit box and then maybe a trip to the post office.
_______________

Paper games all look good until they don't. *There is nothing new
under the sun.

______________

Entirely your own choice. *I just happen to prefer mine.- Hide quoted text -

- Show quoted text -

We've been here before, you and I, Mr. Remick. You respect (revere)
the PTB and hope they will continue to make your retiree life just
hunky dory in every single respect. I see the people of the USA the
same as the people of Japan in their present crisis, hoping that the
PTB will make everything all right as they get their lame asses
irradiated into a crisp. Go Go Godzilla. Good freakin' Luck.

Paper silver and paper gold. Irrational from alpha to omega. Buy
paper gold and silver and YOU rely ever so much on the honesty and
competency of other people. Of course, your reliance is so
irrational. You hope that your money will be handled, in fact, 100%
properly each and every time you invest; you hope that the gold and
silver will actually be bought and actually physically depsoited and
stored correctly even as the physical metal gets more and more
difficult to obtain; if there are any mistakes at any point, you hope
that Kitco and other third parties will cover your ass with their
money.
i
IF the private parties that are handling your money do everything
right, you hope that the government will not step in and confiscate
the great big piles of precious metal in the various warehouses and
pay you (the sucker) off, properly and correctly, in depreciating
paper currency. If such a confiscation and pay-off occurs, there will
be sufficient and likey excess taxes withheld because you minions
can't be trusted to pay the taxes yourself. In fact, you are
essentially a cheater against the system (a so-and-so with a regular
couple of government checks, no less), and why should you be paid at
all???

That's how the socialist government-is-GOD mind-set works. Good Luck.

Hold your metals directly, folks and be prepared for totally
unreasonable confiscations. We (the U.S.A.) are TOAST.

oly

"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.