True value of second hand bullion

No way - we have a culture here at SS that is way too skewed to coin collection and rareities.

Rare coin premiums are like a derivative of ego
Its a valuation based upon desire or beauty - like art and paintings

If fiat is backed by nothing - the premiums are backed by nothing and could easily revert back to purely metal content.
It reminds me of when I use to play marbles at school.

 

that cash was made of gold and silver

not FRN or plastic that will melt in the petrol tanks

 

"Mint premium" is the price you pay for being able to hold that particular piece metal in your own hands.

To me at least, that is worth more than just the metal itself.

 

Oh yes it was !!!!!
@jislizard I wouldnt touch predecimals with a ten foot pole most people wont/dont know what they are & its likely they will offer you 5c for a sixpence 10c for a shilling 20c for a florin & 50c for a 66 fifty.
You need to remember not many people know they have silver content & know them as old 5,10,20&50c pieces & its likely thats all you will get .

Are you going to educate them on the spot ? lets face it if you got a 10 dollar note you got a much better chance of buying something worth $10 than a 66 50 cent piece. & then you will expect change .....I dont like your chances

 

I couldnt agree more .

 

That's what bubbles are all about.

Everybody pretended tulips were worth thousands of dollars in Amsterdam a few centuries ago... until they decided to stop pretending and someone was left holding the bag.

And as you point out, we are all pretending fiat is worth something.

It's how the world works. See my sig.

 

You want low premium silver...but you won't touch pre-dec? Pre dec is negative premium!

I stopped buying it a while back, and converted some into gold via a direct swap.

I am not going to try and educate the masses, their god, the almighty TV will do that for me.

When silver rose last year, my family told me about it, it was on some tv show or other.

Rest assured that if silver goes to the moon it will get plenty of coverage on the TV, and I will sell it then!

My silver is not for flipping or for buying rat burgers during the zombie apocalypse, it is for wealth protection, sure I get a kick out of following spot prices to see how much the spot value of my collection is, I don't even factor premiums into it, my proofs are all showing up at spot.

 

I feel I have to pipe in here with my two cents, for what they are worth (two cents? :lol: )


Firstly, if one were planning on getting out in one, two or maybe three big sales that's cool, I feel that it limits your potential buyers. If you get your timing wrong and other people have off loaded large stashes before you they may not be in a position or willing to buy.

Secondly, I think that you do a disservice to fellow stackers whom may not be able to, or are willing to, pony up for 10 ounce coins, by calling them hobbyists and collectors. If all they can afford is to stack one or two 1oz coins a pay that's potentially 100 ounces in a year, 100 ounces dollar cost averaged. That 100 ounces wouldn't have been burned by the $50 spike that some here are still smarting at. And whilst I'm at it. You said "Dropping $300+ for a single coin is for the pros and stackers. I have not progressed to 1kg bars but I think that is where I will be eventually.". Well, to someone who can only afford an ounce or two that's a big buy. But seriously, no 1kg bars and you're calling yourself a pro? Here's a pro sale on this very forum http://forums.silverstackers.com/topic-24268-thousands-of-ounces-of-silver-bars.html

Look. It's fine if your stacking strategy doesn't involve 1oz coins / rounds. I just happen to feel that it's counter-productive to knock the smaller stacker. We all have wealth to preserve, some just have more than others *said whilst I admire my stash of 1/2 ounce dragons (currently my favourite silver coins)*






As an aside and all IMHO - there's nothing wrong with Buffolo's. I wouldn't make them the core of my 1oz silver. But at worst they'll go for spot

 

Well, on the bright side; if Wesley Snipes showed up at your door and all you had laying about was pre decimals chances are he won't pluck out your eye for it.

Pre decimals = good for fooling crooks it ain't real silver

 

DanDee, reported for baiting me with LEGO (again)

 

would you prefer rounds?

 

^^^From the pirate collection
I remember the many fantasies I had with the treasure chest.. its amazing what you can stuff inside

 

I come in peace and I take your point, this thread is all over the place, we were talking about the possibilities of dealers buying second hand silver from abroad in bulk, economies of scale and that sort of thing, not individual purchases of people scraping together enough money to buy a single ounce at a time. If that is all you can afford you probably won't be juggling the merits of importing 100s of 1oz coins against domestic 500oz lumpy bars.

I do intend to limit my potential buyers, to people who have a lot of cash to hand, not to people who want me to put a coin aside until payday. It may cut down on my customer base, but that is intentional. If GP can shift 50oz bars of gold I am not concerned about finding buyers for my silver.

I have about 300 times more money invested in properties than I have in silver, but I wouldn't say I was a pro house buyer! It is more about mentality than purchasing power, no one minds buying a 1oz coin, but few people start by buying a 1Kg bar, the kilo bar comes later once you have more confidence that you aren't making a terrible mistake. The kilo bar comes when you have built up a network and know enough people you could offload it to. The pros can do that, the beginners can't.

My stack includes everything except gold bars, I have gold, silver, platinum and copper coins (even a 1/2 oz Dragon), pre-dec coins, 1966s, silver bars and lots of numismatics, banknotes, stamps, phonecards, Star Wars figures and Magic the Gathering cards. I have been into investing/hoarding of just about everything for years, and there are premiums for everything, the idea that they will not be passed on because silver is somehow different is a little naive.

The 1oz coins appear in my stack as a hangover from my days collecting Liberty Dollars, the ones I have bought as future birthday presents for my niece (all 2011, the year she was born) and the remainder of my dragons. They are not the best way to preserve wealth as you need a lot of fiat to buy them, you lose money on each purchase. You are gambling on the price going up.

Not knocking the smaller stacker, some months I can afford 50oz, this month I have nothing spare for silver. Few people are stacking at a consistent level so we are all small stackers before payday, I just know enough now not to buy an ounce here and an ounce there, stick the money in the bank, earn a bit of interest, make one transaction, get better volume breaks, pay one lot of postage.

Your 2 cents are a lot less rabid than the others

 

I am bringing my Lego over from the UK, works out cheaper than replacing it.

Have you seen the cost of second hand Lego on eBay in Australia? Actually, forget it.

 

CAN SOMEBODY DEFINE SECONDHAND BULLION FOR ME
I spoke to four dealers today & 2 jewelers & they all laughed at me when I just said the words
SECOND HAND BULLION

So If I but a 1oz Gold Dragon today for $1800 ( I like round numbers )
And sell it tomorrow to another bullion dealer for $1800
Who than sells it for $2200

SECOND

HAND

MY TURTLEN

ARSE

 

jizlard has teselated the point again.
The dealer issue is more about why the ordinary stacker cant get boring 999 silver rounds near spot like other countries can.
Even kilo bars carry the best part of $100 premiums here when sold second hand privately.


Are the dealers uninterested in the idea of supplying to that market in the first place? And thats why we dont have much cheap 999 silver rounds?

Idve thought they were a good idea for dealers, because they can be bought by the superfunds.

one of these guys brings in a few hundred thousand absolutely boring silver rounds and maybe we can end the premium princess regime for good.

Let the princesses fondle their pamp lady 1kg bar that cost them $100 for the artistic excitement of some guy in a factory pressing the stamp on it.
And those of us without any taste , can concentrate on what we were interested in the first place.

The premium princesses keep saying the market rules, well IVe seen enough of the market saying here they arent getting what they want.

 

What? YKY was selling 2% over spot for his kg bars!!!! That's like $20 premium!

Hiho was selling spot + $25 before for kg bars as well! Where are you plucking these crazy numbers from?

 

second hand gold bullion

second hand silver bullion (buyer wants it on the cheap) may be a low ballet er

all my silver bars are second hand, since I bought them from the big distributor instead of buying direct from the mint.

some of my bars are supposed to be second hand, but I bought them direct from the miner, so it must be first hand, just that they are made by NWTM.

 

I hope this thread dies a horrid painful slow death in the 7th circle of hell with ants biting at it's sensitive parts.