• "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

No physical silver available under $18 per ounce, 90% "junk" and eagles going for $22-$23+

SilverBuyer

Silver Member
Silver Miner
Joined
Jan 21, 2015
Messages
925
Likes
843
#1
Anyone seeing anything under $18, even at local coin shops? Lowest eagles I see online are about $23, 90% silver at about 16X face ($22.40 an oz)
 

Ebie

Midas Member
Midas Member
Joined
Apr 9, 2010
Messages
7,928
Likes
2,203
#2
CEF is supposedly buying real physical at $14.48/oz. Audited and insured.
At least that is what its rules state.
It should be selling at a big premium---if that was true and believed...
We will see what happens...
 
Last edited:

SilverBuyer

Silver Member
Silver Miner
Joined
Jan 21, 2015
Messages
925
Likes
843
#3
CEF is supposedly buying real physical at $14.48/oz. Audited and insured.
At least that is what it's rules state.
It should be selling at a big premium---if that was true and believed...
We will see what happens...
Buying from Comex I'd assume. I believe SLV also holds/buys physical silver...
 

Ebie

Midas Member
Midas Member
Joined
Apr 9, 2010
Messages
7,928
Likes
2,203
#4
Buying from Comex I'd assume. I believe SLV also holds/buys physical silver...
SLV does not even claim to hold real silver for all of its portfolio...as I have heard from those who have read the fine print details.
CEF is different... supposedly..
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,925
Likes
2,475
Location
Deep Underground Bunker
#6

ZZZZZ

Platinum Bling
Platinum Bling
Site Supporter ++
Joined
Dec 23, 2017
Messages
5,570
Likes
12,064
Location
Northern Arizona
#7
Did not know this but it appears the CEF that I knew (Central Fund of Canada) was bought out by Sprott. So same ticker symbol but now called the Sprott Physical Gold and Silver Trust.

http://www.centralfund.com/pressrel_files/2018/CFCL and SAM - Pre-Closing Press Release FINAL.pdf
Sprott bought CEF at a discount to NAV.

Eric Sprott has retired from the company that bears his name, but they're still the smartest metals/natural resources managers on the planet.

JMHO/DYODD
.
.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,925
Likes
2,475
Location
Deep Underground Bunker
#8
Sprott bought CEF at a discount to NAV.

Eric Sprott has retired from the company that bears his name, but they're still the smartest metals/natural resources managers on the planet.

JMHO/DYODD
.
.
I had bought another ETF but these are trading very near the Net Asset values so you are getting in near spot prices. The Pt and Pd fund was trading almost 15% below the asset value. Think I'm going to be swapping funds here sometime.
 

dacrunch

Platinum Bling
Platinum Bling
Joined
Apr 9, 2010
Messages
5,402
Likes
4,977
#10
Edit = returning Scorpio's precious bandwidth he says I've been wasting - should make it easier to delete all my posts & attachments in bulk...
 
Last edited:

Ebie

Midas Member
Midas Member
Joined
Apr 9, 2010
Messages
7,928
Likes
2,203
#11
My son got lucky on his 1st PM purchases... at his local coin shop the day silver was @ $12. He bought gold fractionals & silver coins for spot +2%... A couple days later, the shop was only buying and had nothing to sell...
If nothing to sell they were not charging market rates
 

anywoundedduck

Gold Member
Gold Chaser
Joined
Mar 31, 2010
Messages
4,194
Likes
6,215
Location
Kentucky
#12
When will the paper price rise, if ever?
They are headed for their intrinsic value of zero.
Physical going ballistic, running out.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,925
Likes
2,475
Location
Deep Underground Bunker
#14
Looks like physical silver is starting to show up again at APMEX. Most in the $19-20 range for basic stuff.
 

Silver Art

Silver Art Bar collector
Site Supporter
Platinum Bling
Joined
Sep 4, 2011
Messages
4,781
Likes
2,903
Location
Tennessee
#15
Yep that is accurate. Nothing under $18/oz at this point with spot silver at $15/oz.
 

Silver Art

Silver Art Bar collector
Site Supporter
Platinum Bling
Joined
Sep 4, 2011
Messages
4,781
Likes
2,903
Location
Tennessee
#16
Nothing much as changed with spot now at close to $15/oz. Because of the shelter in place mandates, some of coin shops have closed. I also noticed that APMEX lowered the minimum purchase threshold ($299?). .999 generic (locally) will still sell at $19-$20.
 

GOLDBRIX

God,Donald Trump,most in GIM2 I Trust. OTHERS-meh
Midas Member
Midas Supporter
Joined
Apr 4, 2010
Messages
14,902
Likes
20,436
#17
Wow, that's amazing. I almost doubled my money in a week. What an investment!

bb
Is that all ? Just doubled ?
Newbie
 

plata_oro

Seeker
Seeker
Joined
Aug 15, 2012
Messages
316
Likes
199
Location
Treasure Valley
#18
My LCS sold me 9 rounds for $3 over spot, while Provident is paying $4 over spot for current and back date ASE's. Nobody is selling them now and the mint isn't producing.
 

edsl48

Gold Member
Gold Chaser
Sr Site Supporter
Joined
Apr 2, 2010
Messages
3,183
Likes
6,291
#19
So silver now has two prices; one being physical and one being paper. Based upon the premiums it looks like one heck of a lot of people prefer physical.