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SiliconToad

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  1. Like
    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 ?
  2. Like
    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. 
  5. Like
    SiliconToad reacted to TheBeast in queens beasts 10 oz   
    September 2019 the Falcon
    March 2020 the yale
  6. Like
    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. 👍 
  10. Like
    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   
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    SiliconToad got a reaction from sovereignsteve in Is it time to convert your gold to silver?.   
    I think the GSR is a bit of a throwback to when folks were on a dual-metal currency system, as was the case in the late 1700s in the States and UK. In this case, there were two critical ratios - the ratio of exchange the government would convert the metals relative to the respective legal tender and the ratio the two metals could be extracted from the ground. An imbalance here leads to all kinds of problems and currency manipulation until the system effectively collapses [e.g. Coinage Act of 1873, Wikipedia.com]. 
    In modern times, my feeling is the GSR is simply a marketing tool for (dodgy?) dealers to move silver products. There seems to be an idea that gold/silver is a "real" form of money and there is some "natural" historical value ratio. I've observed that the GSR "distortion" is often described in the context of silver price manipulation that is perpetrated through global conspiracy by [insert boogieman here: often central banks, shadowy elites or governments] to prevent the collapse of fiat as a concept. 
    Personally, I don't see any real reason for there to be linked ratio. Neither are mined in the same manner (silver is rarely mined directly, usually as a byproduct of extracting other minerals), one is commonly used as a means of exchange between international governments/financial institutions where the other is not, one is an industrial metal where the other is not, etc, etc, list goes on. Thus, my feelings are gold and silver are their own products with their own markets, their own supply and demand with no real, rational link in their price ratios. 
  21. Like
    SiliconToad got a reaction from AgCoyote in 2018 10oz Silver Valiant capsule   
    A cheap wood chisel gets you between the seam and opens these large (and small) capsules with ease and without damage.  👍😀
  22. Like
    SiliconToad got a reaction from Frost in Stacking Investment   
    If you were in the States, I'd recommend Provident Metals and Silver.com for prices, apmex.com for variety. Silver Eagles or Maples for silver coins, any lowest premium 1 oz rounds for stacking. For folks across the pond, I hear the European mint pop up in these forums quite a bit. And of course, the group orders. Britannias and Maples seem to be common coins for stacking in the UK. Also Australian kooks seem really popular, though they carry a higher premium here in the land of freedom and low silver prices. 
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    SiliconToad got a reaction from Shaunbarry in Silver price for 10oz QB lion   
    I'm seeing these sell for about $380 USD in the states on Ebay, give or take. That seems on par with the price you are thinking. But you aren't buying silver at this price; you are buying a collectible. 
  24. Like
    SiliconToad got a reaction from EdRossi624 in Silver price about to plummet   
    I always get a kick out of these technical price analyses and short-term predictions, both on forums and on YouTube. If anyone could actually get it right consistently, they wouldn't be talking about it on thesilverforum.com or on YouTube - they would be to busy managing their wealth. In fact, I often question if folks with such strong opinions actually put their own bacon into the skillet. Great fun watching Youtube videos published years back making all these wild predictions, almost none of them coming to fruition with the ones that get close outside any reasonable time frame. 
     
    Bottom line for me, silver & gold bullion are commodities that generally track with the value of the inflation adjusted global reserve currency over the long term. Never going to get rich off it, has been and will continue to be a reserve of money you already have. Also for me, not even the best vehicle for that purpose - I own it because of the history of the metal and the sound/feel of it in my hand. 
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    SiliconToad got a reaction from Fastnick in What to add to my fledgling stack!   
    I recently picked up an Australian Kookaburra because I need one of that series for my bullion coin collection. Wasn't too excited about it, design didn't really speak to me looking at pictures online, more checking a box on my collection list. But when I received it, it is a truly amazing coin - perhaps my favorite of all my bullion coins. I'd recommend having at least one.