Buy a contract on COMEX as 'Silver Stackers' and stand for delivery?

bron suchecki said:
COMEX contract is delivered as 1000oz LBMA bars.

Hmm, Perth Mint has 1000oz coming out of our ying yangs so why not just buy from us directly at $200 a bar?!? Am I missing something?
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I am sure you mean something like $200 premium over spot per bar right bron? If not im in for a few @ $200 :)
 
Captain Kookaburra said:
hihosilver said:
I suggested this recently say about 2 months ago :rolleyes: and some of us went down the path trying to find out more ;) In the end, it's in the too hard basket trying to organise everyone together :/ Althought it being a great idea. To many people with to many varied ideas regarding how it would/should be conducted but the major issue is trust :rolleyes: If you have ever gone into business with a good friend or business partner and you haven't properly documented a terms and conditions agreement you'll run into major headaches later. I know with two failed business ventures in this fashion. It all starts out with great intentions but eventually you'll have the bum head who will up set the apple card and your hard earn money will be lost - sorry for being a downer on the topic :cool:
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Killjoys!!!!
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I'm far from a killjoy donkey breath ;) and wonder are you just baiting me :cool: but now that you have said this I'm going to personally watch this particular thread develop out of humor just to see you and you alone pike out. So, I really hope you and you alone are going to go the distance otherwise you'll need to be ready of the pasting of :lol: :lol: :lol: I will be delivering you and not the other guys. I really hope you all succeed and I will tip my hat to you if it does.
 
I think the plan for COMEX is to get them to pay the uber-premium because they won't be able to supply physical.

My personal feeling is that they'll deliver physical to a small consortium and save the insane premiums for their own friends prockets.

Worst case scenario is we stick the treasurer on a plane to US to accept delivery and make a decision to either ship it back to Oz or sell it there and split the funds based on investment.
 
Sorry bron suchecki I was not aware - no you've missed nothing...wow only $200 over spot? or am I missing something...
 
i think he means delivery is 200 bucks?
1000oz is about 31kilos
not sure what the premium would be, but shouldn't be too much
either way, get one of those, give to CK to melt into 1kg bars = win :D
 
Ok again this is REALLY just for discussion,but if and I stress IF something has merit then it should be investigated...


...and yes this really is expecting "them to pay the uber-premium because they won't be able to supply physical."
 
hmmmm hate to point it out but the AUS spot just dropped another dollar...
 
lookingaround said:
I am only a very very small fish here but I found the idea very interesting. Please keep this small fish informed of the details :)
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Bet I'm even smaller....

Not too mnay funds left after recent buys. But very interesting and agree that it is the details that need work, but not an unworthy goal.
 
silversardine said:
lookingaround said:
I am only a very very small fish here but I found the idea very interesting. Please keep this small fish informed of the details :)
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Bet I'm even smaller....

Not too mnay funds left after recent buys. But very interesting and agree that it is the details that need work, but not an unworthy goal.
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I am a very small fish trying to learn from the bigger fish, so hopefully over a long term I can grow to become a big fish :) Just hope no shark will eat me before then :P
 
It's a cool idea, but do we really need to sully our hands dealing with the CRIMEX.

Just purchasing five thousand physical ounces as a group takes the silver off the market just as effectively - albeit indirectly.

Why not just call Bron and haggle a special one-off deal with the Perth Mint for "A MONSTROUS BOX"

(We can always fax a copy of the receipt to Blythe! I've got her details somewhere)

Just a thought!
 
lookingaround said:
silversardine said:
lookingaround said:
I am only a very very small fish here but I found the idea very interesting. Please keep this small fish informed of the details :)
Click to expand...

Bet I'm even smaller....

Not too mnay funds left after recent buys. But very interesting and agree that it is the details that need work, but not an unworthy goal.
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I am a very small fish trying to learn from the bigger fish, so hopefully over a long term I can grow to become a big fish :) Just hope no shark will eat me before then :P
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Okay...but Sardines are pretty small. :)

I'm sure you'll grow up just fine. The big fish are excellent teachers. I am doing my best to learn too.....but I'll still be a sardine! :)
 
Depository has been selling 1000oz silver bars since it started. Pricing is spot + $200 (ie $0.20 per ounce premium). They were actually $270 but we dropped them to $200 as part of the recent changes because it is easier to calculate for pool allocated silver (which is sold as pay 50% of premium now, 50% if you take delivery - ie $0.10 per ounce upfront much easier to charge than $0.135 per ounce).

$200 is the premium ex-Perth, you'd have freight on top of that to get it over East. We could do free freight into Sydney/Melb if you bought 20 tonnes, as that is the lot size we ship it in from London as I don't think it would cost anything extra to have it shipped to Perth or Sydney by boat. OK I'm teasing now.

1000oz bars are a bit expensive, but I suppose you just get a hacksaw out and cut it up into ten pieces, stamp SilverStackers on it and you have ten approx 100oz size bars for $0.20 per ounce premium and the small syndicate investors get the left over silver sawdust. Easy :P
 
@ Turk - Yes we could look into a "A MONSTROUS BOX" and ultimatelly achieve the same result, but dirting our our hands dealing with the CRIMEX just has that extra ring IMO...still a worthy alternative plan.

@Bron - Thanks for your input and clarification on bar sizes,etc...

@silversardine - remember even if your a Sardine,your much bigger than the masses of Tadpoles with nothing :)
 
Ag said:
@ Turk - Yes we could look into a "A MONSTROUS BOX" and ultimatelly achieve the same result, but dirting our our hands dealing with the CRIMEX just has that extra ring IMO...still a worthy alternative plan.

@Bron - Thanks for your input and clarification on bar sizes,etc...

@silversardine - remember even if your a Sardine,your much bigger than the masses of Tadpoles with nothing :)
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Nice reminder Ag!

My sardine birthname came about because the newest user registered just before me was silversalmon - which was the name I chose! Missed my chance to be a bigger fish, so sardine it was. :)
 
Turk said:
It's a cool idea, but do we really need to sully our hands dealing with the CRIMEX.

Just purchasing five thousand physical ounces as a group takes the silver off the market just as effectively - albeit indirectly.

Why not just call Bron and haggle a special one-off deal with the Perth Mint for "A MONSTROUS BOX"

(We can always fax a copy of the receipt to Blythe! I've got her details somewhere)

Just a thought!
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All we need, actually, is the Perth Mint to offer SilverStackers a discount on the fabrication premium on a single product, say 10 ounce silver bullion bars (delivery at individuals expense). A nice size bar for the core of a small stack, and we could shoot for a collective 5000 oz purchase goal.

Fabrication for a 10 oz bar is $18 and say it was offered to SilverStackers for $14, would we collectively purchase 500 bars (equivalent to 1 comex contract)?

I reckon I would buy a few to be part of the effort. If the mint could report on the Silver Stacker buying volume we could publish our buying power in terms of comex contract volumes consumed. Or maybe not, it might get too much attention.
 
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