romans holiday Posted May 22, 2009 Report Share Posted May 22, 2009 Today topped up on silver with the Canadian dollars I had at goldmoney [bought CADs when they were cheaper a month back]. Due to both silver and CAD reflecting dollar weakness, basically I could buy as many silver ounces with my Canadian funds as I could a month ago. I think it is definitely worthwhile to hold a variety of currencies if using goldmoney. By buying a commodity currency you can hedge if you are hoping for a drop in the bullion price. If it does not drop and continues up, a commodity currency will mostly match it. Unfortunately, there is only one commodity currency available at goldmoney. Also funded goldmoney further with US dollars today as they are currently cheap. Will buy metal with US dollars when/if the dollar next spikes on the next round of forced liquidation. Link to comment Share on other sites More sharing options...
huntergatherer Posted May 22, 2009 Report Share Posted May 22, 2009 'Watch Silver' or rather 'Watch Out for Silver!' particularly during periods of de-leveraging/forced liquidation. Link to comment Share on other sites More sharing options...
romans holiday Posted May 22, 2009 Report Share Posted May 22, 2009 'Watch Silver' or rather 'Watch Out for Silver!' particularly during periods of de-leveraging/forced liquidation. Exactly! This will be the time to buy silver.....when it is weak. Buy with a currency which is the beneficiary of deleveraging. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 22, 2009 Report Share Posted May 22, 2009 Don't buy silver. Buy USD instead and wait for lower silver prices. :lol: ...and maybe wait forever... You gotta be in it to win it! Call me Silverfinger. Link to comment Share on other sites More sharing options...
romans holiday Posted May 22, 2009 Report Share Posted May 22, 2009 You gotta be in it to win it! Call me Silverfinger. Yep, and you should always keep something in reserve. Sun Tzu. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 22, 2009 Report Share Posted May 22, 2009 I put in an order for some silver eagles this week: basically, I liked the price of them (cid) and in addition to that I think that their premium may get wider as the year progresses because it is logical that there will probably be increased demand from US buyers as the $ depreciates. Does anyone agree/disagree? remember how late last year the US Mint stopped production, can it happen again Link to comment Share on other sites More sharing options...
ziknik Posted May 22, 2009 Report Share Posted May 22, 2009 I put in an order for some silver eagles this week: basically, I liked the price of them (cid) and in addition to that I think that their premium may get wider as the year progresses because it is logical that there will probably be increased demand from US buyers as the $ depreciates. Does anyone agree/disagree? remember how late last year the US Mint stopped production, can it happen again £13.80 is a good price. I don’t remember seeing the Price of an Eagle this low for a long time. A 2.5% VAT rise is coming in December/January. So it is inevitable for the premium to rise. We could be seeing VAT go to 19% in 2010 if taxes are raised. FWIW, I think you are right about US demand. Personally, I think the premium is irrelevant at the moment. I expect to be selling my 1 ounce bullion coins for at £250 in the future. Link to comment Share on other sites More sharing options...
azazel Posted May 22, 2009 Report Share Posted May 22, 2009 I expect to be selling my 1 ounce bullion coins for at £250 in the future. Your optimistic, but I like it. I'll be a millyonair, in muppet money. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 22, 2009 Report Share Posted May 22, 2009 £13.80 is a good price. I don’t remember seeing the Price of an Eagle this low for a long time. A 2.5% VAT rise is coming in December/January. So it is inevitable for the premium to rise. We could be seeing VAT go to 19% in 2010 if taxes are raised. FWIW, I think you are right about US demand. Personally, I think the premium is irrelevant at the moment. I expect to be selling my 1 ounce bullion coins for at £250 in the future. I have found that using spot price alone as a guide to buying silver coins from cid can be sometimes be misleading due to their spreads (presumably dictated by supply / demand factors etc.). Hence, I am a bit cautious about the timing of my purchases. wrt, your sentiment regarding the long-term price objective, you are right of course; if you are buying for the long-term and believe the price will rise substantially, then pennies saved at the initial purchase stage are somewhat irrelevant (I blame my price obsession on my Scottish grandmother!) btw, I bought quite a few eagles and negotiated a discount on the site price (nothing incredible, but it will pay for a good night out) Link to comment Share on other sites More sharing options...
nicejim Posted May 22, 2009 Report Share Posted May 22, 2009 I have found that using spot price alone as a guide to buying silver coins from cid can be sometimes be misleading due to their spreads (presumably dictated by supply / demand factors etc.). Hence, I am a bit cautious about the timing of my purchases. Aye to that! I last bought silver Phillies (2009 edition) in January when spot was £8/oz and the netto price was £11.48. Today spot is 15% up and the netto price is down to £11.10. Link to comment Share on other sites More sharing options...
electroweak Posted May 23, 2009 Report Share Posted May 23, 2009 very funny!!!! (from vaporize comex) Today, Friday May 22nd seems to be a good day for the Silver longs. This morning there was the rarely seen, “Middle Finger Formation”, in the Silver spot price, peaking in the single digit salute to Ben Bernanke at approximately 8:30 EST @ $14.85/oz.. You can even see the thumb extending to 9:30am EST. on the Kitco chart. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 23, 2009 Report Share Posted May 23, 2009 interesting excerpt from the 2009 GFMS Silver Investment Report: Silver Coins A cursory glance at the global totals might suggest little change in world coin fabrication over the majority of the past two decades, save for 2008. In 1990, total coin output stood at 34.0 Moz (1,058 t) and world minting staged a near uninterrupted period of growth through to 2004, drifting lower over the following three years before sharply recovering in 2008. From a world production level of just 37.8 Moz (1,176 t) in 2007, initial estimates for 2008 show the global figure gaining by over 25 Moz to 63.0 Moz (1,959 t), predominately due to strains in the global financial system sparking a tremendous wave of investment. One point worth making, is namely the division between bullion and commemorative silver products. Although a little under half of the global total is accounted for by bullion products it would be misleading to only focus on this segment as many so-called special issues, which might be labelled collector pieces are in fact purchased by investors. And, given that this study is concerned with global investment the following discussion looks at certain key coin products, some of which are not defined as bullion coins, but which nevertheless would be the focus of the investor community. In Europe, the coin market has been dominated by the production of commemorative and collector coins, of which the largest producer has been Germany. Originally designated in 1987 as circulating or legal tender pieces, the coins were minted in silver with a purity of 625/1000. In spite of being circulating coins, each year the entire production consisted of limited issues to mark a given event, and so the number of pieces struck in any twelve month period could vary considerably. This characteristic meant that collectors, rather than investors, proved to be the main target market and so in 1998 the coins’ purity was raised to 925/1000, although investors have also participated in this market. In addition, there has been a broad trend over the past two decades towards raising the number of issues, which, by definition, has lifted Germany’s consumption of silver. For example, during the 1990s, the country’s outturn of coins averaged 4.7 Moz (146 t), compared with 8.2 Moz (254 t) per annum for the current decade to-date (2000-08). Elsewhere in Europe, there has been a general drift towards lower coin production, Spain being the most notable example. Although the country leapt to prominence in 1994, when the 2,000 peseta legal tender sterling silver coin was launched (4.7 Moz, 146 t, were minted that year), it subsequently faded and in 2008, just 0.9 Moz (28 t) of silver was consumed. The notable exception has been Austria, which saw unprecedented demand in 2008, as fabrication of coins skyrocketed from a 2007 figure of 0.5 Moz (16.5 t) to 7.8 Moz (242 t) in 2008, in line with the overall rise in physical investment demand in Europe last year (a trend which particularly benefited the newly launched Austrian Philharmonic one ounce bullion coin). In North America, the United States has enjoyed a pre-eminent role as the largest global coin fabricator. Stripping out commemorative, and other related pieces, the country would still retain its foremost position. For example, in 2008, output of one ounce Eagle bullion coins totaled 19.6 Moz (609 t), an all time high. Since its introduction in 1986, the US Mint has in total minted 178 Moz (5,526 t) of the Silver Eagle coins. Turning to Canada, minting of the one ounce Maple Leaf bullion coin from 1988-2008 used around an estimated 31 Moz (964 t) of silver. Historically, the bulk of production has been exported to the United States and Europe (especially Germany). Demand for this one ounce coin has grown in recent years as investors have dramatically returned to the silver market. For instance, in 2007 some 3.8 Moz (over 118 t) of Maple Leaf coins were sold by the Royal Canadian Mint, while 2008 saw this figure more than double to an estimated 9.7 Moz (over 300 t). Finally, turning to Mexico, as noted earlier, the country’s coin production is principally accounted for by circulating coins. Specifically, from 1992-94 Mexico’s Casa de Moneda produced around 39 Moz (1,206 t) of 10, 20 and 50 peso coins that were mainly hoarded by the local population. The peak year of output, 1993, saw minting of such coins reach 17.1 Moz (532 t). After a hiatus, a new series of circulating coins was produced from 2004 to 2006, although minting was on a smaller scale. These coins have also tended to be hoarded by the general public rather than used in everyday commerce. Finally, it is worth noting that not only does Mexico have an active ongoing commemorative coin program but also since 1949 has produced a bullion coin, the Libertad, which is mainly sold to local investors. At its height in the 1980s and early 1990s minting of this coin absorbed between 0.5 to 2.5 million ounces per annum. It is significant that demand in 2008 jumped back to above the 1.4 Moz (43.5 t) level on the back of a surge in investment. Link to comment Share on other sites More sharing options...
wren Posted May 23, 2009 Report Share Posted May 23, 2009 Today, Friday May 22nd seems to be a good day for the Silver longs. This morning there was the rarely seen, “Middle Finger Formation”, in the Silver spot price, A while back we had a great batman formation in the gold price. Maybe Steve Netwriter could find the post. He made an enhanced version. Link to comment Share on other sites More sharing options...
ziknik Posted May 23, 2009 Report Share Posted May 23, 2009 interesting excerpt from the 2009 GFMS Silver Investment Report: Silver Coins ... In Europe, the coin market has been dominated by the production of commemorative and collector coins, of which the largest producer has been Germany. ... I didn’t know Germany produced a silver coin . What do they make? Link to comment Share on other sites More sharing options...
id5 Posted May 24, 2009 Report Share Posted May 24, 2009 I didn’t know Germany produced a silver coin . What do they make? Germany mainly produce silver 10 Euro coins about 200,000 of them each year plus about 1 Million of commemoratives, but I think that the author has in mind Austrian Philharmonics, I still haven't seen any mintage figures for 2008 but I think it was very high! The Austrian Mint also produce Euro and commemorative specials. Link to comment Share on other sites More sharing options...
ziknik Posted May 24, 2009 Report Share Posted May 24, 2009 Germany mainly produce silver 10 Euro coins about 200,000 of them each year plus about 1 Million of commemoratives, but I think that the author has in mind Austrian Philharmonics, I still haven't seen any mintage figures for 2008 but I think it was very high! The Austrian Mint also produce Euro and commemorative specials. I’m a bit surprised that Germany is Europe’s biggest silver coin producer yet I have never seen a [modern] German silver coin for sale. I’m starting to think others are snapping up the best German coins and leaving riff-raff like me with the Eagles & Maples. Do you know where can I buy (look at prices) Germany silver coins? Pro Arrum; Germany’s biggest coin dealer, doesn’t have any German coins for sale. http://www.proaurum.de/edelmetallshop/silb...mp;showAll=true Austria was listed separately in the article. ... The notable exception has been Austria, which saw unprecedented demand in 2008, as fabrication of coins skyrocketed from a 2007 figure of 0.5 Moz (16.5 t) to 7.8 Moz (242 t) in 2008, in line with the overall rise in physical investment demand in Europe last year (a trend which particularly benefited the newly launched Austrian Philharmonic one ounce bullion coin). ... Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 24, 2009 Report Share Posted May 24, 2009 There is no bullion production from the official side in Germany, neither in gold, nor in silver. The commemorative coins are for losers (investment-wise). Link to comment Share on other sites More sharing options...
id5 Posted May 24, 2009 Report Share Posted May 24, 2009 I’m a bit surprised that Germany is Europe’s biggest silver coin producer yet I have never seen a [modern] German silver coin for sale. I’m starting to think others are snapping up the best German coins and leaving riff-raff like me with the Eagles & Maples. Do you know where can I buy (look at prices) Germany silver coins? Pro Arrum; Germany’s biggest coin dealer, doesn’t have any German coins for sale. http://www.proaurum.de/edelmetallshop/silb...mp;showAll=true Austria was listed separately in the article. Chard will sell you some in the UK or you can deal with the German Mint direct on this site but as GF said numismatic coins are not for the investment collector. If you are collecting for investment then the only things you need to consider is the tax you may have to pay on sale such as CGT, the spread and what is easiest to sell, answer those and you will know what coins to buy. Link to comment Share on other sites More sharing options...
ziknik Posted May 24, 2009 Report Share Posted May 24, 2009 Chard will sell you some in the UK or you can deal with the German Mint direct on this site but as GF said numismatic coins are not for the investment collector. If you are collecting for investment then the only things you need to consider is the tax you may have to pay on sale such as CGT, the spread and what is easiest to sell, answer those and you will know what coins to buy. Thanks for the info. They are pretty expensive. I’m not going to be swapping my collection any time soon. Link to comment Share on other sites More sharing options...
notanewmember Posted May 24, 2009 Report Share Posted May 24, 2009 Silver mania building... There appears to be a growing number of Youtube videos being uploaded in the last three months with people showing off their silver coin and bar collection. Just try a search for "Silver collection" or "Silver Bar Collection" E.g. This chap has 5000 ounces here http://www.youtube.com/watch?v=XPey77JqPSE...feature=related Link to comment Share on other sites More sharing options...
nicejim Posted May 24, 2009 Report Share Posted May 24, 2009 And this one... From: http://www.youtube.com/watch?v=BCzvEyAHXLc $8 profit http://silvercoinsdirect.stores.yahoo.net/19kehado.html Link to comment Share on other sites More sharing options...
notanewmember Posted May 24, 2009 Report Share Posted May 24, 2009 They are lucky in the US where precious metal coins can be found in circulation. The bank staff appear to be oblivious when they can themselves make some easy money with zero risk. They must have thought he was an old fool collecting old coins for their dates. Link to comment Share on other sites More sharing options...
nicejim Posted May 24, 2009 Report Share Posted May 24, 2009 They are lucky in the US where precious metal coins can be found in circulation. The bank staff appear to be oblivious when they can themselves make some easy money with zero risk. They must have thought he was an old fool collecting old coins for their dates. We can do it in the UK with copper. Before 1992 1p and 2p coins were made of copper, containing 3.45g of copper per penny. Not as good as silver but there have been times when they're worth more as scrap. I always check the dates and keep the copper ones separate! Link to comment Share on other sites More sharing options...
electroweak Posted May 24, 2009 Report Share Posted May 24, 2009 We can do it in the UK with copper. Before 1992 1p and 2p coins were made of copper, containing 3.45g of copper per penny. Not as good as silver but there have been times when they're worth more as scrap. I always check the dates and keep the copper ones separate! me too!!! (only 3Kg so far!) - and I have noticed lately I think the fraction of pre-1992 ones is dropping. My guess is about 1 in 4 but dropping. Link to comment Share on other sites More sharing options...
ziknik Posted May 24, 2009 Report Share Posted May 24, 2009 We can do it in the UK with copper. Before 1992 1p and 2p coins were made of copper, containing 3.45g of copper per penny. Not as good as silver but there have been times when they're worth more as scrap. I always check the dates and keep the copper ones separate! me too!!! (only 3Kg so far!) - and I have noticed lately I think the fraction of pre-1992 ones is dropping. My guess is about 1 in 4 but dropping. Me too! I have around £2 so far 1997 2p is also copper. Link to comment Share on other sites More sharing options...
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