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Whatever happened to The Silver Forum ?


HighlandTiger

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7. If silver became expensive there are huge amounts of silver cutlery, tableware, ornaments, jewelry, antiques, etc., that could be scrapped. Remember when there were all those TV ads for companies like Cash4gold? It would be like that only more so.

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7. If silver became expensive there are huge amounts of silver cutlery, tableware, ornaments, jewelry, antiques, etc., that could be scrapped. Remember when there were all those TV ads for companies like Cash4gold? It would be like that only more so.

 

I actually think there is more silver currently still in these forms than people realise. I regularly visit antique centres / fairs etc. And I can see thousands, if not tens of thousands of ounces of silver, in one day at a single major antiques fair. (in fact I see the same pieces for sale month on month, year on year, no-one seems to be buying silver cutlery, tableware etc) Now this is just one small corner of one small island in the world. There must be millions upon millions of ounces sitting in people kitchens and display cabinets around the UK. Cash4Silver could be a nice little earner if silver ever hit a steady high.    

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I heard this argument about Silver vs Gold many times and in my opinion it wrong on 6 points off the top of my head.

1 not even the best meteorologists know how much Silver or Gold there is in the ground, let alone how much it would cost to mine they just know there is more silver and it is easier to mine.

2 Gold is stored by the rich, wealthy and powerful as a storage of wealth the world over full stop.

5 If Silver was to become a more important (valuable) metal compared to Gold we would see a massive increase in silver mining from the likes of barrack and within in a few years there would be an over supply,

I presume it was my argument that you claim is wrong on at least 6 points. Let me take 3 of your objections and make a comment on them.

Re your points number 1 and 2: you didn't read my comment accurately. I was explaining how much of the two metals are "above ground" not in the ground. The reality is that if a major pinch comes and millions of people seek precious metals as a protection of wealth, rather than just the rich and powerful, only the metals above ground are relevant! Only what is physically available can be delivered.. Best estimates believe there is 6x more. Gold than Silver available above ground (in any form) that can cost effectively be recovered and sold to people as wealth protection. This takes into account cutlery etc that has also been commented on in this thread.

The bigger problem I have is with your point 5. Yes, if demand for physical silver were to surge, more mining would be done. But as you say there would be a "lag" of supply from demand for several years as mining companies open more mines. I won't need several years to make a massive return on my silver investment should people move into precious metals in the way we all think they might have to. The price could shift practically overnight. And because there is so little silver above ground compared to gold, I believe the price shift in silver will be more dramatic.

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Back to the topic .I don't think that anything has happened to the Silver Forum!

The Silver price and possibly the summer holidays has affected the forum sales but an upturn in prices will have everyone that couldn't afford gold before back in silver and the new releases for 2016 will be hitting the vendors sooner rather than later. Hence my nothing has happened to the Silver Forum .

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I understand what you are saying about above ground silver/Gold and after a look around I can offer no evidence against or for the amounts you say apart from hearsay. You see no one knows how much Physical Gold the rich wealth and Powerful have apart from what they declare (See recommended reading thread Gold money weekly analyse) Goldmoney head of research tries to work out where all Gold deliveries and amount mined goes .  Also as HT stated on silver how much sterling and cutlery ashtrays etc and the same with Gold there is the official figures then there is all the Jewellery plus illegal mining.

 

The fact that Barrack, mine copper and not Silver suggests that there is not much money to be made from mining silver. Otherwise they would mine silver and have copper as a by-product just facts.    

 

 

 

Just one more point, 

 

I am not against Silver, not at all, but I am not going to be (this does not concern anyone on this forum) hoodwinked into thinking that 100 years of data is wrong by some Silver pumper's who have a financial reason to hype the silver price and worry people.  I admit I was one who got carried away with the JP Morgan thing and never again, I started out in the late 1980s slowly buying Gold I did not touch Silver and when I did I have loses that in my calculations will take up to 10 years to recover.

 

Everyone should own Gold and Silver, that is my opinion but it should be timed like any investment.  Buy at the bottom and every month then stop when it is hot put the money in something else wait, until normality starts again then off you go buying again.    

 

I do not hate Silver and if I was coming into it today I would buy Silver but I am now over exposed on Silver, this leaves me with 4 options

 

1 wait it out -  sell when price has recovered.

 

2 sell at a lose - This is what the rich want me to do I will never do this.

 

3 wait until the proper bottom and buy more a lot more of bullion only not Perth, Pandas etc-  This is an option but timing is of the essence.  

 

4 Trade into a different commodity-  This could be Gold, again timing is important.  

 

The problem with option 3 is I may be able to get a better return on copper  when it hits its bottom faster, I have already talked about copper on the forum it's looking a good investment when China really gets in trouble.

 

 

The other point I would like to make is JP Morgan is now Long Silver and has enough physical, there will be no Silver squeeze on that bank in the future.

 

Its now Citybank who will be the next 'big silver pump'   

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The Youtuber Belangp makes an interesting point about gold vs silver. Like many other commentators, he holds that the current fiat money system is untenable and will have to give way to some new system in the not too distant future, and that this new system may be backed by hard assets. Any asset that is designated as a monetary asset in this way will almost certainly rise sharply in value, and his argument is that gold is ideal for this purpose precisely because it has few industrial uses. Silver, platinum or palladium would be unsuitable because a sharp increase in their price would be highly disruptive to the industries that consume them. For my part, I suspect that western countries would resist designating gold as a monetary asset because they own too little of it, and this could only happen if there had already been a substantial shift in the centre of gravity of the world's economic systems from west to east.

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DRooster, to clarify my point:  If all of the physical gold and all the physical silver (that is currently physically available) was to be put together in a big pile somewhere, the pile of gold would contain 6 times as many oz of metal as the pile of silver.  It's strange to think, I know.  The vast majority of Gold that has ever been mined is still "available", in the form of jewellery, bars, coins etc.  The vast majority of silver that has ever been mined has been "destroyed" through industrial use (most of it has been used in consumer electronics that have ended up in landfill).  Or it's been destroyed 500 oz at a time every time a cruise missile has been tested in the Atlantic.  Or it's been consumed in solar panels etc.  The result is that there is approximately 1.2 billion oz of silver available in the world at any one time (about the amount mined worldwide each year) but nearer 7 billion oz of gold.

 

@DRooster - This is a good watch published 25 Jul 2014 - Get REAL: Silver

 

"Jan Skoyles presents a Get REAL special on silver. She talks to Mark O'Byrne of Goldcore..."

 

- https://www.youtube.com/watch?v=6CJrYx-7XZI

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The Youtuber Belangp makes an interesting point about gold vs silver. Like many other commentators, he holds that the current fiat money system is untenable and will have to give way to some new system in the not too distant future, and that this new system may be backed by hard assets. Any asset that is designated as a monetary asset in this way will almost certainly rise sharply in value, and his argument is that gold is ideal for this purpose precisely because it has few industrial uses. Silver, platinum or palladium would be unsuitable because a sharp increase in their price would be highly disruptive to the industries that consume them. For my part, I suspect that western countries would resist designating gold as a monetary asset because they own too little of it, and this could only happen if there had already been a substantial shift in the centre of gravity of the world's economic systems from west to east.

 

The future is now!

 

- https://thesilverforum.com/topic/3614-how-to-use-crypto-currency-to-verify-value-and-secure-your-pm-trading/

 

- https://bitcointalk.org/index.php?topic=951753.msg11952902#msg11952902

 

"Collateralized Asset Certification (as opposed to collateralized debt obligation)"

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The future is now!

 

- https://thesilverforum.com/topic/3614-how-to-use-crypto-currency-to-verify-value-and-secure-your-pm-trading/

 

- https://bitcointalk.org/index.php?topic=951753.msg11952902#msg11952902

 

"Collateralized Asset Certification (as opposed to collateralized debt obligation)"

 

 

Just out of interest do you own cryptobullion.io? 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Shock horror, you're not insinuating that ol Silverite has a hidden agenda or a conflict of interests here.

 

Can't say I saw that one coming ................ ;)  :rolleyes:  :D

 

I'm not actually concerned about that  :P Interested for another reason 

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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@DRooster - This is a good watch published 25 Jul 2014 - Get REAL: Silver

 

"Jan Skoyles presents a Get REAL special on silver. She talks to Mark O'Byrne of Goldcore..."

 

- https://www.youtube.com/watch?v=6CJrYx-7XZI

 

I don't like how mark o'byrne fails to mention that

silvers record performance ending 1980 is at least

partly due to the hunt brothers trying to corner the

silver market.

 

HH

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  • 2 years later...

 

On 7/24/2015 at 12:34, Pete said:

You can buy gold at say 3% over spot and sell at say 98% of spot to there is a 5% spread between buying and selling.

This spread is easily made up by market fluctuations and therefore looks very attractive because of this.

 

I think that 5% is pretty good - as you said, it can be made up by market changes.  But what is the lowest buy/sell spread you have seen?  Have you come across any companies that don't have one at all?  I live in Utah, and there is actually a gold and silver repository near me that I have invested a bit with, called UPMA, that has a 0% buy/sell spread, which is (obviously) the best I have ever seen.  Let me know if you've found any others like this : )

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On 7/24/2015 at 20:56, sovereignsteve said:

Half sovereigns at 3% over spot at HGM has to be the way; bullion with collectable value, easy to dispose of being fractional (If gold does go way up again, more affordable than full sovereigns).

I hear you! ;)

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21 hours ago, Nora said:

 

I think that 5% is pretty good - as you said, it can be made up by market changes.  But what is the lowest buy/sell spread you have seen?  Have you come across any companies that don't have one at all?  I live in Utah, and there is actually a gold and silver repository near me that I have invested a bit with, called UPMA, that has a 0% buy/sell spread, which is (obviously) the best I have ever seen.  Let me know if you've found any others like this : )

I have seen opportunities to buy some gold coins mainly Krugerrands in say a lot of 10 at 1% over spot.
As for selling I met a person in Hatton Garden London ( not HGM we know on this forum ) who would pay spot price for gold in cash.
The best buy / sell spread I've seen however still lies in or around 3-4%.
 

I am assuming your Utah repository is not handing you physical gold but merely adding / subtracting you on a spreadsheet ?
If so you cannot compare as we are discussing gold in hand and not on paper.

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On 1/18/2018 at 07:19, Pete said:

I am assuming your Utah repository is not handing you physical gold but merely adding / subtracting you on a spreadsheet ?
If so you cannot compare as we are discussing gold in hand and not on paper.

Anyone who has purchased gold (or silver) with them can withdraw it in physical gold (or silver) (as long as they have enough value to add up to a whole gold/silver coin).  Here's a video I found that seems to explain this well :) 

 

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