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SiliconToad

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    SiliconToad reacted to Au79 in How much silver is too much silver ?   
    The silver you own is too much when the silver in your mind is full and you start thinking how to unload silver off your mind.
    Beware the mental silver weight! 😄
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    SiliconToad got a reaction from Fish827 in Coin capsules:   
    The 10 oz Maples are 76.2 mm, so an Air-Tite Z10 Direct Fit capsule (76.8 mm) should work for it. I've linked to an ebay auction here for reference. 
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    SiliconToad got a reaction from Gildeon in Why do we collect?   
    For you, that's true. But it is a collection hobby for lots of folks, myself included. For example, I collect one oz of each of government silver bullion coins. ASE, maple, Britannia, Krugerrand, etc. - don't really want more than one. And then there are cool silver series, like the Dragons rounds from Provident or the Queens Beast 10 oz cons from the Royal mint. 
    The point is people chase the shiny for different reasons, none of them right or wrong.
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    SiliconToad got a reaction from TonyS in Why do we collect?   
    For you, that's true. But it is a collection hobby for lots of folks, myself included. For example, I collect one oz of each of government silver bullion coins. ASE, maple, Britannia, Krugerrand, etc. - don't really want more than one. And then there are cool silver series, like the Dragons rounds from Provident or the Queens Beast 10 oz cons from the Royal mint. 
    The point is people chase the shiny for different reasons, none of them right or wrong.
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    SiliconToad got a reaction from AuricGoldfinger in Gold – Silver Ratio reaches 26-year high   
    @Wolves  I don't understand why there should be any particular price ratio of silver to gold. When the metals were pegged to each other though a currency, then the ratio of metals to each other and their related fiat made sense. Very problematic, but made sense nonetheless. These days, the metals are mined differently, have different applications and are viewed as different asset types linked only by being in the same "basket" at the government/central banking level.  
    Silver could drop to $0.50/oz and gold could rise to $10k/oz and it would make the same sense as if the metals found 1:1 parity. 
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    SiliconToad got a reaction from sovereignsteve in Gold – Silver Ratio reaches 26-year high   
    @Wolves  I don't understand why there should be any particular price ratio of silver to gold. When the metals were pegged to each other though a currency, then the ratio of metals to each other and their related fiat made sense. Very problematic, but made sense nonetheless. These days, the metals are mined differently, have different applications and are viewed as different asset types linked only by being in the same "basket" at the government/central banking level.  
    Silver could drop to $0.50/oz and gold could rise to $10k/oz and it would make the same sense as if the metals found 1:1 parity. 
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    SiliconToad got a reaction from Pampfan in How has the Silver Forum changed your buying habits/ collecting of precious metals and coinage   
    For me, direct impacts are:
    Silver deal threads have led to several impulse buys of shiny baubles Became aware that I must, MUST have variations of several coins that I thought were covered in my world bullion collection. e.g. incuse maple, oriental border Britannia.   Introduced me to the queens beast series that got me collecting the 10 oz silver versions Learned more about VAT in practice than I ever would have otherwise Gain insight into how other countries view precious metals as investment, hedge and collectibles, which is quite different from my usual circle and really interesting. Among other things. 😊
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    SiliconToad got a reaction from CollegeKevin in Late to the game?   
    If you are buying as a long term hold, I think you are getting in at one of the rare moments in history where it actually does make sense. Interest rates are stupid low, the Fed has said they are holding off on tightening, there are indications of economic cooling (inverse yield curve, yada yada) and the stock market is near it's all time high. The time you want to be selling is when there is blood on Wall Street (not literally, you know what I mean).
    But let me give you some free advice, given by some dude on the internet that doesn't care if you take heed or not. Precious metals are not, have not been, nor are ever likely to be 1) a good investment relative to other options or 2) a good hedge against inflation. Precious metals are a placebo sought out by the fearful to make them feel better about their place in life, an industrial commodity to be traded by speculators and trinkets that have a nominal cost of the buy/sell spread. The reason gold/silver has been used for money throughout history is not because of any inherent quality, but because it was the best technology of the period to prevent counterfeiting. 
    Don't get me wrong, my 10oz Black Bull is in the mail (can't wait!) but I don't expect to ever make money on the purchase. 
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    SiliconToad reacted to Pete in Counterfeit "silver" coins sold on Ebay   
    The problem I see is that regardless of the description, the coin is a precise copy with no marking to state otherwise and shows 1oz 9999 silver AND the Queen's head with the $1 denomination.
    It is therefore a fake i.e. counterfeit item.
    Doesn't matter what the seller states as once the item has left his or her hands this could be resold incorrectly as a genuine coin.
    To me this is no different to photocopying a £20 bank note, stating it is a copy in the text, selling for 50 pence.
    How many of these would be sold before you are arrested ?
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    SiliconToad got a reaction from Jamesd in My biggest problem - where to sell?   
    My feelings are this:
    1. if you are going into silver as a pure investment and don't expect a black swan "reset" event (whatever that means), then you want paper silver.
    2. if you want "money you can hold" (whatever that means), then expect to trade your fiat for silver at ~15% over spot/oz and trade your silver for fiat at 10% under spot/oz. With this expectation, you will always have a buyer anywhere.
     
    For me personally, silver is a collection of shiny bobbles that make me happy. And I rationalize that the cost of said bobbles is just the few bucks I spend over spot price. 
     
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    SiliconToad got a reaction from Martlet in Selling Silver & Gold as a hobby or a trade - it really matters so take heed!   
    Sort of interesting that there is even an option to sell precious metals for a profit without paying any kind of tax on the sale in the UK. That actually makes silver/gold a reasonable vehicle for long term saving if you can minimize the front-loaded tax. 
    Here in the States, profits from gold, silver bullion coins or even US "junk" coins have to be reported for capital gains tax. Doesn't seem to apply across the pond, but US gains tax always made me wonder why heavy stackers are so convinced that precious metals "preserve wealth" as Uncle Sam takes 20+% of the un-adjusted dollar profits from the buy/sell spread, and that's even if silver prices don't keep up with inflation at a given sell point.  Sure, small-time stuff can go under the radar if one is less than scrupulous, but the folks trying to divest a life-time of stacking in their golden years are going to raise flags. 
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    SiliconToad got a reaction from PansPurse in Is it time to convert your gold to silver?.   
    Interesting insights here, lots to unpack. First, Silver is not a currency no matter how much some folks wish it were. In your own next breath after saying it so, you indicate XAG value in a basket of true currencies. It's a common, fundamental error in thinking I've observed in a number of people buying into silver - they confuse an asset for currency. When debts and purchases, private or public, can be settled with grams of precious metal, enshrined in the laws of the land, then it will be a currency and not before. This is a critical point and getting it wrong leads to all manner of false conclusions and logic contortions. 
     
    With regard to "cryptocurrency coins," that's not a currency either. It's an asset backed security that is no different from traditional paper other than it is traded on a different exchange via a different technology. The vendor in your scenario by your own admission is getting  paid in fiat of the land, the currency enshrined in law to settle debts public and private. What your talking about is a form of barter, where the metal asset is converted to fiat in real time at the point of sale though a 3rd party exchange. The key point here is that fiat is the recognized money in the transaction, which goes back to my previous point that many precious metal enthusiasts don't really understand what money is (or they do and simply don't like / refuse to accept it). 
     
    I think we have some common ground on your 3rd point. Using fractionally secured debt instruments to shuffle money between international banking institutions though a non-transparent system is begging for problems. I think we do disagree that the problem will be because there isn't enough precious metal to go around. The metal doesn't matter (or mortgages, or land, or [insert underlying asset here]), rather its the fact that the collateral for a debt is not worth the face value. Should those debts be called en mass, then there will be a financial shock as they are realized at a loss. 
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    SiliconToad reacted to TheBeast in queens beasts 10 oz   
    September 2019 the Falcon
    March 2020 the yale
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    SiliconToad reacted to AppleZippoandMetronome in What is a reasonable premium per Oz for your stack?   
    This topic came up a little while ago so thought I'd dig that thread up for you. Some members had already added their figures in there.
     
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    SiliconToad got a reaction from caloundracats in Need Maths help!   
    Jewelry has an element of craftsmanship that adds value to the base metal. Enjoy it for what it is - wearable art made from a precious metal that you love. 👍 
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    SiliconToad got a reaction from AgCoyote in Queens Beasts Topic   
    I received my 10 oz QB Bull of Clarence (photo posted in the photo-only forum, QB thread) yesterday, love it. I think the dragon is my favorite of the QB, followed by the unicorn and then the griffin. I'm thinking of making wooden wall hangings with the encapsulated coins inset into them. Should look really nice in my "treasure" room, aka study. 😀👍
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    SiliconToad got a reaction from Bullionbilly in Queens Beasts Topic   
    I received my 10 oz QB Bull of Clarence (photo posted in the photo-only forum, QB thread) yesterday, love it. I think the dragon is my favorite of the QB, followed by the unicorn and then the griffin. I'm thinking of making wooden wall hangings with the encapsulated coins inset into them. Should look really nice in my "treasure" room, aka study. 😀👍
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    SiliconToad got a reaction from Tn21 in Queen's Beasts (Gold & Silver) Photo Thread