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Felt the same until a nosey postman asked me what was in all the packages :o Told him computer chips, but decided enough is enough from that supply route.

 

Incidentally don't know whether others have had this experience but one dealer rang on the latest spike to try and say the price had gone up in 24 hours despite me fixing the purchase price and having it confirmed in an email. Will not name and shame, but poor show on their part.

 

i would quite like to know who that was - just to be sure i clarify with them in the future re. price if i use them

 

can you imagine it going the other way if the price fell, i can't!

 

go on name 'em! :-)

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i would quite like to know who that was - just to be sure i clarify with them in the future re. price if i use them

 

can you imagine it going the other way if the price fell, i can't!

 

go on name 'em! :-)

 

Rather not for confidentiality reasons, but was quite surprised myself. Never happened before, i'd opened an account with a member of the family, so it was their first purchase as such ;) Maybe thats why they thought they could get away with it, with someone new.

 

Poor and making me now rethink part of my exit strategy in the future.

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Poor and making me now rethink part of my exit strategy in the future.

 

 

You have to realign your paradigm. It seems you are planning in the future to sell your PM and buy fiat? Is that your exit strategy? I used to think the same way, but I feel we are at a stage where the exit from PM would be unnecessary, it will be the money and currency.

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Current value of silver you own or the cost you encountered when you bought it?

Current value, but it is changing every day. ;)

 

 

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Current value, but it is changing every day. ;)

 

Presumably, you are effectively actively trading your precious metal or perhaps I have missed something? or perhaps you are trading the paper precious metal and converting it to physical?

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You have to realign your paradigm. It seems you are planning in the future to sell your PM and buy fiat? Is that your exit strategy? I used to think the same way, but I feel we are at a stage where the exit from PM would be unnecessary, it will be the money and currency.

 

Possibly as I try and stay open minded. Short term i'm comfortable holding a core coin collection for all sorts of reasons SHTF,inheritance etc. More maybe want to trade/swap between P.M types to realign percentage holdings and that little episode got me thinking how I will trade larger quantities of P.M's whatever type.

 

Perhaps the simple solution is to keep a foot a number of shop doors.

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If you look VERY VERY carefully at CID then, from time to time, they get their VAT rates wrong and it is possible to buy silver at 7% VAT. Just now and again.... :-)

 

Don't know why people buy from Sarnia, even with no VAT it still seems cheaper to pay the VAT and buy at CID as their pre-VAT price is so much cheaper. (This is especially true if the VAT is 7%!!).

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Presumably, you are effectively actively trading your precious metal or perhaps I have missed something? or perhaps you are trading the paper precious metal and converting it to physical?

No I am not actively trading my physical, I maybe swap some metal once every couple of years but don't sell it for fiat. The reason the % changes is the fact the the gold:silver ratio changes, so in effect my gold or silver becomes worth more.

 

My holdings currently are;

 

52% bullion - which is split about 65% silver to 35% gold

 

43% mining shares (about 50/50 gold and silver miners)

 

5% leveraged silver ETF (LSIL) for trading

 

I treat the bullion as a long term cash position and maybe swap between metals occasionally. The shares I do trade occasionally but mostly they are longterm holds. The ETF is my trading tool, which is only a small percentage of my total assets. As I am a professional photographer I am busy in the week quite often and don't really have the time to actively trade that often, so I feel happy with 5%.

 

 

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got allocated silver, or that funny ETF stuff or some other illusionary paper promise ?

 

 

read all of this thread:

 

https://www.kitcomm.com/showthread.php?t=67009

 

Page 1 revitup op says:

 

"During 08 and 09 I purchased 3 silver Certificates from the TD Canada Trust bank. Well this week I have tried to take possession and backed up the truck. I have been getting the run around. This is now my second attempt and I have been waiting for the call all day to say they will deliver. The last I heard was that they could only fill the order with 1000 oz ingots and that delivery was going to be $400 for the Brinks truck. I said no problem and that was at about 9:30 this mornig. I have been getting the feeling that they do not have it since they have not returned my calls.

 

I will keep you posted as to what TD comes up with.

 

My question is what should I do/say if they can't deliver?"

 

 

 

then revitup the op said on page 3:

 

"I just went down to the bank and talked to my contact there. The bank said there phones were down in the afternoon due to the fact that the bank will be moving (true). My cantact said she called me at work, after I had left. In any event the bank re-ashured me that they have the silver and will call me tomorrow afternoon. Heres hopeing.

 

The fine print on the certificates:

1) The holder of the certificate accepts the risk of non-delivery for any reason beyong the control of the bank. :o

2) Fabrication and handling charges will be charged at the time of delivery.

3) The bank reserves the to require five business days notice for delivery of the silver upon surrender of this certificate."

 

 

tbc.......watch closely......

 

you have been warned many times before......."FORCE MAJEURE"

 

If you can't touch it, you don't own it

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I have a core position in physical silver, 60%ish & 40% physical gold.

 

agreed that silver is more speculative than gold RH, historically speaking.....but who knows going forward ??

Maybe someday we can party like it's 1477.

 

600yearsilvera.gif

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link from Strongman Shelford this guy is a fantastic poster, lived through the Argentinian Hyperinflation & is very humble. :)

 

his post on glp said:

 

 

"CANADA MAINSTREAM MEDIA CANCELLED INTERVIEW ABOUT GOLD SUPPRESION

Quote

 

sO BASICALLY NOw, silver is exploding. Gold is making new record highs.

it is said that JPMORGAN is closing short positions.

(check my previous threads)

They are getting ready for more inflation? war? Why gold and silver are going now?

 

 

There is a GOLD SUPPRESSION SCHEME in the financial markets.

 

Your local mainstream media won`t tell you about it!

 

Look what has just happened in Canada!

 

Strongman Shelford

 

 

In the space of a few hours last week, Canada's Business News Network invited GATA Chairman Bill Murphy to be interviewed at its headquarters in Toronto during the Toronto Resource Investment Conference next weekend and then withdrew the invitation on the grounds that GATA is "too controversial." GATA is unaware of anything it did in those few hours to become particularly more controversial than when the invitation was made, and so people may wonder whether BNN has fallen victim to pressure from outside sources that don't want the gold price suppression story to be reported even in a major gold-mining nation. Canadians who would like to see Murphy interviewed on BNN anyway can express themselves to the network here:

 

http://www.bnn.ca/contactus.aspx

 

Of course being anything except polite will not help.

 

Murphy discusses the BNN invitation's issuance and withdrawal in commentary posted today at GoldSeek, "Lack of Free Press in Canada," here:

 

http://news.goldseek.com/LemetropoleCafe/1284937260.php

 

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

 

Source: http://www.gata.org/node/9030"

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warning number 873..... ;)

 

 

http://agaupm.com/comex-dealers-borrow-phy...ased-inventory/

 

"Comex Dealers Borrow Physical Silver Despite Reporting Increased Inventory"

 

"Uff, this one really puzzled me so I put few hours into investigating which side is not honest and what explanation could be made for what’s currently happening at Comex – regarding physical silver.

 

By looking Comex daily inventory reports, open interest contracts left to deliver physical by the end of Sep 2010 and delivery notices sent to clients waiting on physical silver, I crunched numbers and come up with a logical explanation.

 

Here goes.

 

As of yesterday, there are 1,513 OI contracts left to deliver physical silver by the end of Sep 2010 (each contract stands for delivery of 5,000 ounces of physical silver).

 

2 days ago this number was at 1,621 with delivery notice of 148 contracts so yesterday’s OI contracts left should be 1,473 (and not 1,513).

 

This already provides us with first interesting discovery…

 

that actually there were additional buyers of Sep 2010 contracts that got scared of waiting on Dec 2010 (next delivery month for physical silver) and are panicking to get their physical silver already this month.

 

This new buyers panic to get additional 40 contracts equaling 200,000 ounces of physical silver.

 

I can’t stress this enough – this additional buyers want to trade their paper silver (Dec 2010 silver contracts) for physical silver and are scared to wait on Dec 2010 to get physical and are pressing COMEX to deliver them physical silver already this month.

 

Next info from latest Comex silver inventory report is that yesterday 354,346 ounces were withdrawn from Comex’s customers inventory.

 

And for the biggest revelation is same report that showed that on September 7th 2010, Comex dealers took a lease from Comex customers for 2.3 million ounces of physical silver (actually 2,298,863), equaling 460 contracts.

 

Why are dealers leasing from customers (which cost them certain fee), when they report to store in Comex warehouse 54.1 million ounces?

If they owned 54.1 million ounces of physical silver – why would they pay storage and insurance fee on this reported silver, plus paying a new fee to lease additional 2.3 million ounces of silver from customers?

 

With total number to deliver in Sep 2010 being around 13 million ounces and dealers reported registered silver inventory being 54.1 million ounces, there shouldn’t be a problem to just deliver this amount and still have 41.1 million in their warehouses.

 

Are they so generous to pay so many fees (insurance, storage, lease…) or they actually don’t own this reported 54.1 million ounces of PHYSICAL silver?

 

Paper silver is in abundance but when clients demand 15 million ounces of physical then we see what’s happening."

 

"Conclusion of this messy stuff going on at Comex this month is that Comex don’t own as much physical silver as they claim."

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If you look VERY VERY carefully at CID then, from time to time, they get their VAT rates wrong and it is possible to buy silver at 7% VAT. Just now and again.... :-)

Don't forget to post when you see it. I hope they do the reduced VAT 1 kg libertads again soon... ;)

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Don't forget to post when you see it. I hope they do the reduced VAT 1 kg libertads again soon... ;)

 

they did that once with me, (charged me 7%vat ) but emailed me back the next day to let me know that they got the price wrong....it was on a sizeable order also.....bu55er. :(

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David Morgan's latest silver thoughts and slightly revised forecast of somewhere $21-25 for the year.

 

Silver is under-recognized, misunderstood and still has great upside potential. In my January 2009 issue of The Morgan Report, I said that gold would become mainstream by the end of the year, and I was right. Once gold hit $1,000, gold became a kind of fashion hub of the investment community, even on Wall Street. Everyone was talking about gold, day after day, and no one was even whispering the word silver.

 

I think you will see silver in the mainstream news in 2011. I've certainly been swamped with calls from large moneyed entities that have never considered silver before. That's kind of new; I mean it happened once before when silver bottomed in 2008. I had a plethora of consultations with high-end people who were savvy enough to pretty much buy at the bottom of the market. We're seeing those dynamics again now.

 

http://www.kitco.com/ind/GoldReport/sep172010.html

 

Mind this is the guy that probably got duped into tipping LIEG this year, so for all his kudos...

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Poor mans Gold?

 

Here's how silver zooms to 178 dollars/ounce (or how 178 dollars sink to 1 ounce of silver).

 

http://www.kitco.com/ind/Wilson/sep202010.html

 

now look at the various price levels for gold and the various silver:gold ratios mentioned above one by one and see what conclusions we can draw.

First let’s use the Sept. 17, 2010 price of $1276.50 for gold and apply the various gold:silver ratios mentioned above and see what they do for the potential % increase in, and price of, silver.

 

Gold @ $1276.50 using the current 61.3:1 gold:silver ratio puts silver at $20.82 (Sept. 17/10)

Gold @ $1276.50 using the above 45.69:1 gold:silver ratio puts silver at $27.94 (i.e. +34.2%)

Gold @ $1276.50 using the above 13.99:1 gold:silver ratio puts silver at $91.24 (i.e. +338.2%)

 

Now let’s apply the projected potential parabolic peaks of $2,500, $5,000 and $10,000 to the various gold:silver ratios and see what they suggest is the parabolic top for silver.

 

@ $2,500 Gold

 

Gold @ $2,500 using the gold:silver ratio of 61:1 puts silver at $41

Gold @ $2,500 using the gold:silver ratio of 45:1 puts silver at $55.50

Gold @ $2,500 using the gold:silver ratio of 14:1 puts silver at $178.50

 

Before we go any further the above analyses bears closer scrutiny. In paragraph four above it was noted that “During the last parabolic phase for silver in 1979/80 it went from a low of $5.94 on January 2nd, 1979 to a close of $49.45 in early January, 1980 which represented an increase of 732.5% in just over one year.” Such a percentage increase from the current price of almost $21 would represent a future parabolic top price of $175.

 

It is interesting to note that the above $175 is almost identical to the $178.50 that would result from a reversion to the mean in the gold:silver ratio with gold at $2,500. For the gold bugs who believe that gold is going to go even higher it can only mean a very much higher price for silver as the analyses below suggest.

 

@ $5,000 Gold

 

Gold @ $5,000 using the gold:silver ratio of 61.1 puts silver at $82

Gold @ $5,000 using the gold:silver ratio of 45:1 puts silver at $111

Gold @ $5,000 using the gold:silver ratio of 14:1 puts silver at $357

 

@ $10,000 Gold

 

Gold @ $10,000 using the gold:silver ratio of 61:1 puts silver at $164

Gold @ $10,000 using the gold:silver ratio of 45:1 puts silver at $222

Gold @ $10,000 using the gold:silver ratio of 14:1 puts silver at $714!!

 

From the above it seems that, any way we look at it, physical silver is currently undervalued compared to gold bullion and is in position to generate substantially greater returns than investing in gold bullion.

 

Summary

 

History will look back at the artificially high gold:silver ratio of the past century as an anomaly, caused by the dollar bubble and the world being deceived into believing that fiat currencies are real money, when in fact they are all an illusion. This fiat currency experiment will end badly in a currency crisis and when that happens, as it surely will, gold will go parabolic and silver along with it but even more so as the gold:silver ratio adjusts itself to a more historical correlation. The wealthiest people in the future will be those who put 10% to 15% (or perhaps more – much more!) of their portfolio dollars into physical silver today and were smart enough to research and pick the best silver mining/royalty stocks and warrants to maximize their returns.

 

Indeed, while gold’s meteoric rise still has room to run, silver’s run is yet to get started. As such, it certainly appears evident that now is the time to buy all things silver.

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The wealthiest people in the future will be those who put 10% to 15% (or perhaps more – much more!) of their portfolio dollars into physical silver today and were smart enough to research and pick the best silver mining/royalty stocks and warrants to maximize their returns.

Not necessarily so. There could be a speculative component [the attempt to maximize] involved in silver and stocks that is not in gold.

 

The above kind of article will get people buying silver instead of gold. The "poor man" would still be doing well to buy a few ounces of gold, before going on to buy silver.

 

Gold should be bought first, and silver, being more speculative, second.

 

I think most here agree with that.

 

Consider, are CBs buying silver or gold?

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Not necessarily so. There could be a speculative component [the attempt to maximize] involved in silver and stocks that is not in gold.

 

The above kind of article will get people buying silver instead of gold. The "poor man" would still be doing well to buy a few ounces of gold, before going on to buy silver.

 

Gold should be bought first, and silver, being more speculative, second.

 

I think most here agree with that.

 

Consider, are CBs buying silver or gold?

But maybe people who cant afford to buy gold would do well to ride the silver speculation ticket?

 

Personally I think both are necessary. I'm not so certain of the order of buying. One is at record highs the other is 50% below record highs. If I had nothing I would be inclined to go for silver first in this case. But that's just me and the psychology of shopping. :lol:

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But maybe people who cant afford to buy gold would do well to ride the silver speculation ticket?

 

Personally I think both are necessary. I'm not so certain of the order of buying. One is at record highs the other is 50% below record highs. If I had nothing I would be inclined to go for silver first in this case. But that's just me and the psychology of shopping. :lol:

I'd still say gold first [at least a little] and then silver, but then that's could just be me and my conservative psychology.... and that I dislike shopping. B)

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I'd still say gold first [at least a little] and then silver, but then that's could just be me and my conservative psychology.... and that I dislike shopping. B)

Well rh, your shopping basket will be a lot lighter, that's for sure :P

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