Hello stackers, I am a bit confused if I did the right thing or not. I was going to buy about 22 or so kilos of silver, 1kg bar. Perth mint was out of stock. When I rang Ainslie they were selling at $830 which was about $100 above spot. It was more expensive that PM so I said no thank you. Is there any reason why the premiums are so high? Another dealer had a better price but the shipping cost was nearly $1000 dollars and I nearly got a heart attack. Did I do the right thing in not buying or did I lose my chance in not buying?
There's plenty of silver left, try any of the forum sponsors and I'm sure they'll be able to help you out with reasonable shipping costs. If you can't actually find 22kg's anywhere, go for unallocated at GoldStackers and then redeem your buy once things have settled down. Supply will catch up as the excitement dies down. And welcome
ABC bullion are at $790 at the moment...but if it is a big down night tonight...hold onto your dough for the next week or two
Welcome I just checked their site, and yes, that is quite a premium! And that is for their generic bar (which is still 999 fine), not a Perth Mint bar. Bullion Bourse have 10 x 1kg perth mint bars for $7865 plus post. " have 5 x 100oz perth mint bars for $12,108 plus post (= $780/kg) Goldstackers have 1kg PAMP bars for $786 + post " have low premium 1kg bars for 783.50 + post " have 100oz perth mint bars for $2431 + post (= $783/kg) These are just 2 examples.
Is this true with PM dealers? When price goes downvery high premiums. When price goes upwhat happens? So when is the time to buyat high prices or what? Very frustrating! Unallocated silver is totally out of question for me.
In troubled times Bron suggested moving towards allocated, then possession as things get worse. 1. While the world environment is benign, hold unallocated, saving on ongoing storage costs and fabrication charges. 2. When the world environment becomes uncertain and risky, convert to allocated if you personally are concerned. 3. When the world is at a crisis point, take delivery. http://www.perthmintbullion.com/au/Blog/Blog/11-05-11/Perth_Mint_Depository_Fear_Index.aspx What do we find in reality? Greater awareness leads to broadening population interest. Leads to coin shops/dealer shop numbers increasing. Increased product offerings rising like mushrooms, ie more unallocated opportunities in the marketplace as beginners ignore Brons advice. Unallocated from a coin shop is OK as you save up to get better premiums say on a roll/tube. If people have trouble trusting Perth Mint or Sunshine Mint, seriously the local coin shop for anything but small convenience plllleeeease. Even if small shops creatively set up with a holding account in Singapore, and collection in Aus, counterparty risk remains. Why would anyone seriously consider unallocated outside of the Perth Mint for big $$$, and pay a very reasonable premium as applicable for a govt backed organisation.
Plenty of options out there, but you need to dig further. Any of the awesome site sponsors, ABC, Bullion bourse, Bullion List just to name a few... are avenues you could explore and compare prices.
Yep if your goal was to buy at the absolute bottom you missed it Guess you'll have to settle for near the bottom ... unless of course it's going to crash again even lower.... ... perhaps you should wait just in case .... ... but then again maybe that was the bottom and it will shoot up again... ... better buy quickly now before that happens... ... but if it goes down to $20 you'll be kicking yourself buying 22 kilos at $23... ... oh bugger it just go put it in the bank.... ... but then what if we have a Cyprus moment... did that answer your question ?
It seems that there is no shortage of people to cheat others. Got one in the message box "Good day mate. All dealers are out of stock, I can sell them for $830, PAMP 1 kilo silver bars. I have 16 of them." People expect me to message back saying, yes offcourse great price, I will send $13,280 dollars to a stranger and I would expect my kilo bars coming by post. Keep in mind this is not even a bullion dealer. An average Joe from this forum site. Expect for Perth Mint, when I called other dealers they all have stock as of today.
Evening, One of the things that confuses a lot of us is what price is silver? Well, is it spot? Or is it what you can buy it for? And, topping that, if you can't buy it at all, then what is it worth? Hmmm, with a mess like that, it is impossible for anyone to say a right or wrong thing. Facts Spot is set by a small group of growingly dubious characters every day - if you want to use spot as a reference, go right ahead. Now, if you actually want to buy silver, you are going to have to pay the price a supplier asks or negotiate it otherwise - sounds fair - they don't have a gun to your head. Now, if it isn't procurable anyway - it is irrelevant. What is it worth then - anyone's guess? So, if someone bought silver at say $26 to hold long term and you can't get it now at 23, did they miss the boat? Who, can say? If you didn't get it at $26 or $22 or at $35 - did you miss out? Well, lets see what happens. Have a great night Gazza.
