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Bimetallic

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  1. Thanks
    Bimetallic got a reaction from dicker in JP Morgan stacking physical silver, and manipulating the silver market.   
    It's hard to follow your post given the enormous number of typos and poor writing. The quality of your writing does not inspire confidence in your argument. In any case it's extremely difficult for one party to manipulate silver prices.
  2. Like
    Bimetallic got a reaction from RacerCool in Silver 1ozT blanks?   
    Here are some pictures to hold you for a bit. Sunshine Minting makes blanks for various mints, including the US Mint. The top banner image is scrollable – look for the side arrows. You'll see up close shots of the blanks if you scroll sideways.
    Here are some discs for sale at Rio Grande, a major American jewelry supplier. Don't know if they ship across the pond. Your best bet will be to find their opposite numbers in the UK – jewelry supply outfits. They sell silver in various pre-production forms, including blanks/discs, shot/grain, wire, rod, sheet, etc.
  3. Like
    Bimetallic got a reaction from TeaTime in Thoughts on Chris Duanes silver rounds...   
    The Freedom Girl round is probably the most beautiful silver bullion product I've ever seen. It was designed by artist Heidi Wastweet.
    I don't know anything about Duane or his prognostications on the silver price. There are a lot of kooky theories in the precious metals community.
  4. Like
    Bimetallic got a reaction from Mark10110 in Quick question about American Eagles   
    There have been no changes to content or composition. 999 fine silver is specified in the original authorizing law from the late 1980s. There's never been an alloy version of the ASE.
  5. Like
    Bimetallic got a reaction from CadmiumGreen in Mint brand price disparities   
    They're listed here: https://www.coinworld.com/news/precious-metals/us-mint-has-12-authorized-purchasers-for-bullion.html
    The list combines gold and silver distributors, maybe platinum too.
  6. Like
    Bimetallic got a reaction from Roy in Safes and PM storage   
    6 mm of steel is a lot, definitely counts as heavy.
    I would use deception techniques, and stashes like fake pipes, as outlined by famed YouTube stacker CyberCurtainTwitcher.
    Silver is bulky and isn't worth much. Therefore it's not a good use for safes. Safes are better for real valuables like gold, things that are more value-dense and compact. It would take an enormous safe to hold a large silver stack. That would destroy your margins.
    If you want to actually make money on silver and hold large amounts long term a good off-site allocated place is best, like BullionVault. That's 0.48% a year in fees. If your safe costs more than that over a reasonable time frame then it's a waste, and probably less secure than BV's vaults. What's the point of having a bunch of silver at home? It's just inviting theft or costing a fortune to put in a safe. It's not doing anything for you just sitting there.
  7. Thanks
    Bimetallic got a reaction from Roamer in Economic collapse hypothetical   
    He asked about all currencies at the same time. A single country doesn't count.
    Most paper currencies do not go "back to zero". Paper and electronic currencies are used everywhere and in modern Western countries they appear to work well. I'd rather have a fully private banking system where banks and other entities (e.g. blockchains) issue their own currencies in a free market, but it doesn't do us any good to keep circulating false claims about government paper currencies. Central bankers in modern countries appear to be able to do a passable job of controlling inflation, though I think maybe long-term deflation is preferable. It's not clear what the market would reward most in a free (private) banking system.
  8. Haha
    Bimetallic got a reaction from FFkook in Bimetallic coins   
    You rang? 😉
    It all comes down to price and liquidity. How much do they cost? And how liquid do you expect them to be? I expect that they won't be very liquid.
    20 grams is approximately 0.64 troy ounces. With silver at $16.47, melt value is $10.59.
    Therefore I would look to get these for something like $12.71 each, or less, which is 20 percent over spot. 20 percent over spot allows for the high premiums on small volumes of silver, and the novelty of these coins. I'd need further justification to pay more than 20 percent over spot for these.
  9. Like
    Bimetallic got a reaction from RacerCool in Bimetallic coins   
    You rang? 😉
    It all comes down to price and liquidity. How much do they cost? And how liquid do you expect them to be? I expect that they won't be very liquid.
    20 grams is approximately 0.64 troy ounces. With silver at $16.47, melt value is $10.59.
    Therefore I would look to get these for something like $12.71 each, or less, which is 20 percent over spot. 20 percent over spot allows for the high premiums on small volumes of silver, and the novelty of these coins. I'd need further justification to pay more than 20 percent over spot for these.
  10. Thanks
    Bimetallic got a reaction from Frost in What sizes does the Silver Panda come in?   
    Thanks. I'm the person who put some of that information on the Wikipedia page yesterday. I don't know what sizes are produced currently though.
  11. Like
    Bimetallic got a reaction from MetalMandible in Confessions from an American newbie (eagles)   
    If you're trying to maximize value why are you buying graded, slabbed coins? It must have cost many dollars over spot.
    TheUS Mint charges its distributors a fixed $2.00 per ASE over spot. This sets the floor for their price.
    Whatever you do, whatever you buy, it's critical that you don't overpay. If you overpay, you kill your margins and you might as well light your money on fire. The key to not overpaying is to buy from the lowest price dealers, like Silver.com, SD Bullion, and occasionally Gainesville Coins or BGASC. Provident will very rarely have the lowest prices, and APMEX never does unless there's a big sale or something.
    Lots of people overpay. If you can avoid overpaying you've got a shot at preserving value and even making a profit.
  12. Like
    Bimetallic got a reaction from Kellyrob1uk in Travelling to the USA   
    You're likely to get the best prices from online dealers, especially those that offer free shipping. Local coin shops tend to be more expensive, and their selection is usually quite poor.
    The lowest priced dealers are Silver.com and SD Bullion. 99% of the time one of those two will have the lowest price for any given product. I did some price comparisons in this article. The relative standing of the dealers tends to be stable, so the article is still fruitful. Other dealers to check out are BOLD Precious Metals and Gainesville Coins. Forget about APMEX if you want good prices.
  13. Like
    Bimetallic got a reaction from Safestacker in How to use the spot price to buy gold or silver?   
    I will add that you're unlikely to get good prices – and extremely unlikely to get spot price – on many of the items you listed. In particular, 1/10 ounce gold pieces will carry hefty premiums compared to full ounce pieces, and forget about proofs (of any metal). The proofs you already bought should be the last proofs you buy unless someone offers an amazing deal on them, which is unlikely to ever happen.
    Stay away from the numismatics unless your interest is in numismatics, in which case you can forget about approaching spot price. Otherwise, buy pure bullion. (If it wasn't clear, proofs are numismatics.)
    In the US, many online dealers have promotions for new customers where you can get a few ounces of silver, maybe ten, at spot price. This bullion is typically a private round or bar, sometimes the house brand – e.g. major dealers like SD Bullion (recommended), JM Bullion, Silver Gold Bull, and APMEX all commission their own 999 or 9999 silver rounds. Do British dealers have similar promos? My impression is that private rounds and bars are more common in the US than in Britain – most of the action across the pond seems to be in government minted bullion, usually the Royal Mint. Britannias are usually a steal in the US, about the lowest priced government coins and bars, which is good for me because I think they're gorgeous. It would be sweet if there were a promo on the Britannias, but I don't know what's normal with UK dealers.
  14. Like
    Bimetallic got a reaction from JinKesef in Silver shot/grain   
    Where are you? In the US, RioGrande.com is one place.
  15. Like
    Bimetallic got a reaction from Coolsmp in Cleaning Mexican Libertads   
    Looks like it could be standard silver tarnish, the cleaning of which is well understood. For the record, silver tarnish is extremely common on pure silver (999 or 9999).
    You're getting bad advice so far. Never use dips or silver cleaning products on bullion. Try soap and water first. If it's still there it's probably tarnish. Then use the aluminum foil and baking soda method:
    Boil some water. Line a plastic or glass bowl with aluminum foil, or use a disposable aluminum foil pan (pie tart pans and single-serving meatloaf pans are ideal) Toss in a tablespoon of baking soda, and a teaspoon of salt (preferably pure salt if you have it – this would be canning and pickling salt). Then pour in the water. Place one coin in, let it rest on the aluminum foil at bottom. Flip it after about 20 seconds, wait another 20, then remove. Your tarnish will be gone. Rinse with water, towel dry, let them air out for a bit before putting them in capsules or Ziploc snack bags (smaller than sandwich bags – ideal).
  16. Like
    Bimetallic got a reaction from bubbateux in Canadian buyer   
    I can't overstate how bad an idea this is. As far as I've been able to determine, there is never any reason to buy from Kitco under normal circumstances. Three reasons:
    Their prices are significantly higher than many competitors, especially compared to top competitors like Silver.com, BGASC, and SDBullion. Their shipping fees are out of this world. $15 for 30 day delivery? What kind of carrier would take 30 days, or even 20, giving Kitco 10 days to clear a check or whatever they need to do? Will someone arrive at your door on horseback? 30 days? And they charge $35 for "Standard" 3-4 day shipping. Both of these figures are wildly out of step with the market. You can't actually buy normal bullion from Kitco most of the time. For example, try to find a standard 2018 BU Silver Maple Leaf on their website. There isn't one. They sell a "random year" Maple, and they sell rolls of 25 "MintFirst" 2018 Maples. But unlike every other dealer I know of, they don't sell normal, new 2018 Maples straight up, in singles and up. The "MintFirst" business is a gimmick that has spread like wildfire throughout the industry over the past couple of years. Kitco calls is MintFirst. APMEX calls it MintDirect. SDBullion calls it MintCertified. They all seem to mean the same thing. These terms basically translate into "new". They take the rolls from the mints and put a "tamper-evident seal" on them, what you and I would call "tape". Some of them, like APMEX, will sell singles as MintDirect, where they ever so carefully remove a coin from a roll and seal it in a plastic package. It's a gimmick, the kind of thing an MBA would think of to extract more money from customers, and possibly exploits people with OCD over the possibility that their coins had even been touched by human hands... Kitco's prices are bad, but their shipping costs take them out of the picture entirely. There are many, many dealers that will beat Kitco on price, and who don't use horses for 30 day delivery.
    I want to be blunt here. So many people on these boards overpay for bullion and even as a social psychologist I'm dumbfounded by it. When you invest in silver, buy from the dealer with the lowest prices (assuming they're established dealers – any of the major dealers). Pay less, not more. The margins in this business are thin. Be disciplined. Never buy from Kitco or APMEX unless they have a great sale (which they may never have). Buy from the lowest price dealers. I don't understand all you guys who are lighting your money on fire paying more than you have to for silver. Use the internet. Use my upcoming price comparison article. Pay the bare minimum, since we're talking about identical products that are the same across all dealers.
  17. Like
    Bimetallic reacted to ZatStackz in Storage system for my collection/ stack?   
    https://www.onfireguy.com
    I just went through the process of ordering capsules.  They have the same price as air-tites.com for the 25 pack but they had free shipping.
    https://www.airtiteholders.com/store/c1/Featured_Products.html
    They are the actual manufacturer of air-tite capsules. If you order over $50 of stuff from them, they ship free.
  18. Like
    Bimetallic got a reaction from SouthCoastInvestor in Storage system for my collection/ stack?   
    If you use slips or flips, or an album with the same, you'll want to put them or the album in an airtight container like @SouthCoastInvestor does. And anti-tarnish strips or bags work well.
    For small numbers of items, ziploc bags are quite adequate. I especially like the "snack bag" size, which is smaller than sandwich bags and therefore less flippy-floppy for 2-3 rounds. You could throw an anti-tarnish strip in the bag for good measure, but so far I've found that the bag's seal is enough to keep the contents pristine.
    When you think about storage, I recommend thinking about security as well. It would suck if a burglar stole your stack. Here's a brilliant video on how to securely store your stack.
  19. Thanks
    Bimetallic got a reaction from intelinside in Storage system for my collection/ stack?   
    As far as coin capsules are concerned, they're sure to be cheaper on Amazon than from APMEX. APMEX prices aren't competitive for anything, so I recommend avoiding them in favor of dealers like SD Bullion, Silver.com, and BOLD Precious Metals (see my article comparing North American dealer prices for different bullion order scenarios).
    Air-tites.com also has lower nominal prices for capsules, typically 55 cents for small orders, 50 cents each for 100 capsules, and 36 cents each for 250. However, they overcharge for shipping, so I'm not clear how their true prices compare to Amazon. You'll have to do the math for your specific volume. The applicable links are:
    Small orders: https://www.air-tites.com/Air-Tite_Direct_Fit_Coin_Holders.htm
    "Wholesale" orders (100, 250, etc.): https://www.air-tites.com/Wholesale_Direct_Fit_Air-Tite_Coin_Holders.htm
    Their shipping charges are alarming, especially this message near the top of their site: "$9.95 Promo Shipping on orders $50 and over!" Ouch! That's pretty much the opposite of a shipping promo, and it makes me wonder what they charge for orders under $50.00. In any case, they're overcharging because it doesn't cost anywhere near that much to ship what they're shipping, especially if they use USPS First Class Package Service. Again, you'll have to do the math for your scenario and compare their total price (in their checkout screen probably) with what you find on Amazon.
  20. Like
    Bimetallic got a reaction from intelinside in Storage system for my collection/ stack?   
    If you use slips or flips, or an album with the same, you'll want to put them or the album in an airtight container like @SouthCoastInvestor does. And anti-tarnish strips or bags work well.
    For small numbers of items, ziploc bags are quite adequate. I especially like the "snack bag" size, which is smaller than sandwich bags and therefore less flippy-floppy for 2-3 rounds. You could throw an anti-tarnish strip in the bag for good measure, but so far I've found that the bag's seal is enough to keep the contents pristine.
    When you think about storage, I recommend thinking about security as well. It would suck if a burglar stole your stack. Here's a brilliant video on how to securely store your stack.
  21. Like
    Bimetallic got a reaction from itslikegolddust in Storage system for my collection/ stack?   
    If you use slips or flips, or an album with the same, you'll want to put them or the album in an airtight container like @SouthCoastInvestor does. And anti-tarnish strips or bags work well.
    For small numbers of items, ziploc bags are quite adequate. I especially like the "snack bag" size, which is smaller than sandwich bags and therefore less flippy-floppy for 2-3 rounds. You could throw an anti-tarnish strip in the bag for good measure, but so far I've found that the bag's seal is enough to keep the contents pristine.
    When you think about storage, I recommend thinking about security as well. It would suck if a burglar stole your stack. Here's a brilliant video on how to securely store your stack.
  22. Like
    Bimetallic got a reaction from Guybrush in anyone stacking for SHTF?   
    Negative, bro. Hardly anyone owns silver (or gold), which means that it won't be used as currency in a SHTF or zombie apocalypse situation. You can't trade what you don't have, and most people simply don't have it.
    In Puerto Rico, cash was king during their power outage. In a prolonged SHTF situation, I think clean water, food, pharmaceuticals, medical supplies, ammunition, and fuel will be the currency or barter goods.
  23. Thanks
    Bimetallic got a reaction from Ablist in My North American dealer price comparison article   
    Hi all -- I finished my research on North American online dealers. The article is here.
    My spreadsheet with all the prices is linked an article.
    In the article, I also discuss what you can do to reduce your net price if you absolutely have to use a credit card. And I discuss the carrier programs that allow you to take more control over your shipments from dealers and reduce the chance of theft. Enjoy, and let me know if I should add any dealers.
  24. Like
    Bimetallic got a reaction from Lr103 in My North American dealer price comparison article   
    Hi all -- I finished my research on North American online dealers. The article is here.
    My spreadsheet with all the prices is linked an article.
    In the article, I also discuss what you can do to reduce your net price if you absolutely have to use a credit card. And I discuss the carrier programs that allow you to take more control over your shipments from dealers and reduce the chance of theft. Enjoy, and let me know if I should add any dealers.
  25. Like
    Bimetallic got a reaction from KevinFlynn in Shortage of privately minted silver?   
    Hi all -- I received a very interesting email from Provident Metals today (they're a major American dealer). It has significant implications, and instead of trying to summarize it I'm just going to share the whole thing:

    -----------
    The bullion marketplace has two sides – and sometimes they can act very differently from each other. What do we mean by that? There are two ways to trade precious metals: physical product and paper metal. The former category is what Provident does: buying and selling bullion in the form of coins, bars, ingots, rounds, etc. When we enter into a transaction, actual metal is bought, sold, and physically transferred. In the paper market, however, bullion is traded in the form of futures contracts, ETFs, derivatives, and other promises.

    In theory, both the physical and paper markets involve buying and selling metal. However, there’s one major difference. In the paper world, it’s easy to lose sight of how much physical metal actually exists. Traders can (and often do) buy or sell more metal than is readily available in the physical marketplace. Exchanges like the CME publish how much metal exists in approved warehouses versus the number of open futures contracts. More often than not, traders have agreed to buy or sell MUCH more metal than is available in the physical market

    Why are we mentioning this today?

    In recent months, the supply of newly-minted physical silver has steadily declined. In fact, it appears that demand is far outpacing the amount of coins and bars available. Granted there are numerous factors in play, but there’s one major reason for this supply shock. Two of North America’s largest precious metals refiners have shuttered – and no one has filled the void. Over the past two years, Dallas-based Elemetal and Miami-based Republic Metals have both ceased operations.

    Private mints like Elemetal and Republic played a vital role in the bullion marketplace. While there are numerous world mints that can belt out coins, only a select few facilities are available to make low-premium bars and rounds. It’s no surprise that just a handful of companies are available to serve this role. The silver bullion market is intensely competitive with exceptionally tight margins; it requires a tremendous amount of capital, patience, and infrastructure.

    Consider what goes into making just one silver round. A private mint must buy raw metal, refine it to 99.9% purity, form it into thin sheets, stamp out blanks, mint the blanks, package the rounds into tubes, and then ship them to distributors. This process requires maintaining a large staff and buying extremely expensive machinery. Furthermore, it’s a cash-intensive process; all of this metal must be carried and financed while it’s being fabricated into product.

    All of this effort is worthwhile when the market is upbeat and healthy. During periods of strong demand, private mints enjoy an excellent flow of orders. Even though the margins are thin, they benefit from strong volume and non-stop activity. However, when conditions are quiet, mints are stuck with massive overheads and fixed costs. It’s truly a “feast or famine” existence for private mints – and this might be why so few exist in the United States.

    While it’s unclear exactly what led to the downfall of Republic Metals, they were one of the few refineries willing to produce low-premium silver rounds and bars. Following their departure, it’s become increasing difficult to source this product. Low-premium silver has become extremely scarce in the marketplace. While Provident is able to offer a wide variety of live rounds and bars, many refineries are quoting a 2-6 week delay for new orders!

    A Look Ahead

    There are two potential outcomes to this scenario. The first is that premiums will rise as inventories dwindle. The harder it become to find live silver, the more buyers will pay for it. Secondly, refining capacity may catch up with demand. The existing field of private mints will expand production, run more shifts, and find a way to satisfy the growing need. While it’s possible that new firms would enter the market, the massive capital and infrastructure requirement will be a barrier to entry. It seems unlikely that more private mints will open any time soon.

    What does all this mean for you as a silver buyer?

    Chances are that low-premium silver will be increasingly scarce in coming months. Refineries have been caught off-guard and did not anticipate this surge of demand. Between renewed interest in precious metals – and two major firms existing the market – a shortfall of product has developed. Mints will do their best to catch up and increase the output of supply, but in the interim, it’s more likely that premiums will head higher.

    The bullion market is more active now than six months ago, but it remains a far cry from what it was a few years ago. During periods of intense demand, silver bars and rounds have traded for close to $2/oz over spot. Now, today, many top-quality products can be had for less than a $1 premium. If you’re looking to add cost-effective silver to your holdings, now may represent an excellent time to lock in. Between upwardly trending spot prices and rising premiums, we see multiple reasons why silver could be more expensive soon.