Pay the premium...watch Road to Roota or anyone else willing to explain what the banks have done to the value of Silver forever...there are many people out there telling the truth (much to the banks' dismay)!
Maybe I should not call it a "premium" but rather a "transaction" fee. A 20% transaction fee really scares me away from taking physical ownership of silver. When I can get gold or platinum for less than 5% in fees.
Silver will 100-200X+ one day when the manipulation is over. Gold and platinum will be likely be bounce 20-50X. You can pay now or lose out later.
When the banksters are no longer in control, we expect silver and gold to come to 1:1 parity. Gold was easier for them to round up and stash, thus they've made it more "valuable" even though the natural ratio out of the ground is somewhere around 10:1. Think about that.
There are over 10,000 industrial use cases for silver while there are nary 100 for gold or platinum.
The only reason the premium (transaction fee) seems high is because the price is so low. Especially for American Silver Eagles (ASEs), the premium has always been at least 10% going way, way back.
But sure, as of the last two weeks, the premiums have been unusually high. You might be able to wait it out, or you might not. Chris Marcus (Arcadia Economics) just interviewed some experts that claim 85% of the above-ground financial silver is now in the hands of the COMEX and/or JP Morgan in the form of 1000oz bars. That means the remainder of the world is vying for the remaining 15% which ain't a lot.
Bottom line, this is late in the game for acquiring substantial quantities. Stackers have been stacking since 2008, without much to brag about either. But he who laughs last...
Anyway, I agree the ASE premiums are a bit outlandish at the moment, at closer to 40-45%. But all things considered, paying $4-$6 over spot at this time is a reasonable premium considering all that's recently gone down. It may pay off for you to hold off, as this has been the case many times in the past. But now may be different. Nobody knows for sure.
My advice would be to hedge; buy half of what you think you wanted to buy now. and wait it out for a few weeks (if that's possible).
Mike Maloney coined the phrases "UnAffordium" and "UnObtainium" which is where silver is eventually headed. At some point in the future, you won't be able to get your hands on silver, at any price.
Shit, I know people who have been stacking since the lead up to 1999/2000 Y2K and are still to this day. These people are either going to become massively wealthy or they will break even if nothing happens like the Y2K dud. Their plan was never to ride up the value, although a nice side effect, it was always to have something tangible to trade when the lights go out.
You are missing my point. What I‘m saying is, The price of physical silver is being and has been being suppressed. Silver should at least be in the hundreds per ounce.
You are can currently buy silver at a HUGE discount.
Silver is more manageable for transactions nd such. Also familiar to people. Platinum is more of a gold, to a point anyway. Very expensive per ounce.
If the SHTF, then you will prefer food, water and shelter.
It's a risk to buy online, because if the price suddenly shoots up they'll just cancel your order, but having said that it was much cheaper for me too. Paid 600 online for 20 troy ounces and paid 144 in person for 4 non troy ounces.
You also have to be EXTREMELY careful about WHAT you buy. I started buying heavily last fall. I wanted to know about the MINTS that were striking the rounds and bars I was buying. I found several bills of lading from shipping companies where some very popular mints were buying their unstruck rounds from ... CHINA. I am not saying that these rounds are not pure, but in the last year, China has been called out for selling FAKE gold bullion. I'm not promoting anyone or calling anyone out. I will disclose that I only buy from Towne. They are a small town mint in Indiana. I researched the shit out of them before I planted that flag. I don't want to find out in 10-15 years that the .999 bars and rounds I purchased now are either impure or not actual silver. It's easy as hell to fake silver if you don't have the resources to test each piece you purchase ... which I don't.
The Chinee fake coin market was really a surprise around 10-15 years ago-out at the local flea market, someone was selling Morgan CC dollars and a few months later the damnedest thing I ever saw was one of those "Morgans" jumping to a magnet super quick!! They have been using old worn US silver coins as material to use a stock 90% silver for the blanks+ I have seen faked slabs and coins/bullion all from chyna..
Transportation, storage, overhead costs, and margin all need to be taken into account for the dealer. We also don’t know what basis value over or under the futures price the dealer is paying. I imagine basis values are overs right now considering the big demand for physical silver and the relatively small movement in futures prices.
If you were to take delivery of 1 futures contract it would cost you about $135k for 5,000 ounces and you would have to figure out the logistics to actually pick it up.
That is the value the dealer brings. 20% premium for physical silver is not bad at all in my opinion.
Honest question: Where are you getting physical silver?
Everywhere I look they make you pay at least $5 over the spot price which is almost a 20% premium...
For this reason, I have been buying gold because you can get it delivered to you for less than 5% over the spot price.
Pay the premium...watch Road to Roota or anyone else willing to explain what the banks have done to the value of Silver forever...there are many people out there telling the truth (much to the banks' dismay)!
$SLV and the banks artificially suppressing silver prices.
Not a premium when they naked short it down... for years. Knowing that, you have a buying discount.
Maybe I should not call it a "premium" but rather a "transaction" fee. A 20% transaction fee really scares me away from taking physical ownership of silver. When I can get gold or platinum for less than 5% in fees.
Silver will 100-200X+ one day when the manipulation is over. Gold and platinum will be likely be bounce 20-50X. You can pay now or lose out later.
When the banksters are no longer in control, we expect silver and gold to come to 1:1 parity. Gold was easier for them to round up and stash, thus they've made it more "valuable" even though the natural ratio out of the ground is somewhere around 10:1. Think about that.
There are over 10,000 industrial use cases for silver while there are nary 100 for gold or platinum.
The only reason the premium (transaction fee) seems high is because the price is so low. Especially for American Silver Eagles (ASEs), the premium has always been at least 10% going way, way back.
But sure, as of the last two weeks, the premiums have been unusually high. You might be able to wait it out, or you might not. Chris Marcus (Arcadia Economics) just interviewed some experts that claim 85% of the above-ground financial silver is now in the hands of the COMEX and/or JP Morgan in the form of 1000oz bars. That means the remainder of the world is vying for the remaining 15% which ain't a lot.
Bottom line, this is late in the game for acquiring substantial quantities. Stackers have been stacking since 2008, without much to brag about either. But he who laughs last...
Anyway, I agree the ASE premiums are a bit outlandish at the moment, at closer to 40-45%. But all things considered, paying $4-$6 over spot at this time is a reasonable premium considering all that's recently gone down. It may pay off for you to hold off, as this has been the case many times in the past. But now may be different. Nobody knows for sure.
My advice would be to hedge; buy half of what you think you wanted to buy now. and wait it out for a few weeks (if that's possible).
Mike Maloney coined the phrases "UnAffordium" and "UnObtainium" which is where silver is eventually headed. At some point in the future, you won't be able to get your hands on silver, at any price.
Good luck!
Shit, I know people who have been stacking since the lead up to 1999/2000 Y2K and are still to this day. These people are either going to become massively wealthy or they will break even if nothing happens like the Y2K dud. Their plan was never to ride up the value, although a nice side effect, it was always to have something tangible to trade when the lights go out.
You are missing my point. What I‘m saying is, The price of physical silver is being and has been being suppressed. Silver should at least be in the hundreds per ounce.
You are can currently buy silver at a HUGE discount. Silver is more manageable for transactions nd such. Also familiar to people. Platinum is more of a gold, to a point anyway. Very expensive per ounce.
If the SHTF, then you will prefer food, water and shelter.
Looks like their 10 oz Golden State bars are $4.30 over spot. This is the best deal I have seen.
Thanks for the tip!
It's a risk to buy online, because if the price suddenly shoots up they'll just cancel your order, but having said that it was much cheaper for me too. Paid 600 online for 20 troy ounces and paid 144 in person for 4 non troy ounces.
You also have to be EXTREMELY careful about WHAT you buy. I started buying heavily last fall. I wanted to know about the MINTS that were striking the rounds and bars I was buying. I found several bills of lading from shipping companies where some very popular mints were buying their unstruck rounds from ... CHINA. I am not saying that these rounds are not pure, but in the last year, China has been called out for selling FAKE gold bullion. I'm not promoting anyone or calling anyone out. I will disclose that I only buy from Towne. They are a small town mint in Indiana. I researched the shit out of them before I planted that flag. I don't want to find out in 10-15 years that the .999 bars and rounds I purchased now are either impure or not actual silver. It's easy as hell to fake silver if you don't have the resources to test each piece you purchase ... which I don't.
Just letting you know. Buyers BE VERY AWARE.
The Chinee fake coin market was really a surprise around 10-15 years ago-out at the local flea market, someone was selling Morgan CC dollars and a few months later the damnedest thing I ever saw was one of those "Morgans" jumping to a magnet super quick!! They have been using old worn US silver coins as material to use a stock 90% silver for the blanks+ I have seen faked slabs and coins/bullion all from chyna..
Transportation, storage, overhead costs, and margin all need to be taken into account for the dealer. We also don’t know what basis value over or under the futures price the dealer is paying. I imagine basis values are overs right now considering the big demand for physical silver and the relatively small movement in futures prices.
If you were to take delivery of 1 futures contract it would cost you about $135k for 5,000 ounces and you would have to figure out the logistics to actually pick it up.
That is the value the dealer brings. 20% premium for physical silver is not bad at all in my opinion.