Buy a contract on COMEX as 'Silver Stackers' and stand for delivery?
- Thread starter Ag
- Start date
So is this heading towards a COMEX or perth mint bulk buy?
Lovey80 said:
In the event they are unable to deliver physical silver they have been known to pay out the contract with a healty premium so people don't get.....I believe the term is "shitty" or possibly "litigious"
If more silver "stands for delivery" than COMEX has physical silver to deliver (because the market is full of speculators who never intend to take delivery, so there's more contracts than silver in circulation), allegedly COMEX will pay you a premium over the price of the silver as compensation for not being able to take delivery.
Think of (premium) airlines overbooking flights - if more people turn up than there are seats on the plane, the airline will compensate the passengers that had valid tickets but couldn't get a seat.
Think of (premium) airlines overbooking flights - if more people turn up than there are seats on the plane, the airline will compensate the passengers that had valid tickets but couldn't get a seat.
lookingaround
New Member
silversardine said: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
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.
I actually think my name is boring...maybe i should change it to silvertuna-wannabe?
I like the idea of taking physical delivery of a COMEX contract when they may not have the good for it. Max keiser would be proud of us (Go Aussie Silver Liberation Army!!!)
overdraft3
New Member
Bron wrote . 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)...... just copy pasted that into my harddrive for future ref:.... love it!
Funny, I was thinking of doing almost the exact same thing.
Have had experience in setting things like this up in the past.
Idea was to purchase (not particularly off the Comex but YES that's a much better idea) a big bar to virtually split up
You would set up a goal (i.e. to buy a contract, stand for delivery, deliver to specified address (i.e. private vault) then have a pre-determined sale price at which point the owners are then paid out in cash, i.e. a strike price of say $75.00. (owners wanting to keep smaller quantities of physical could always re-buy smaller bar locally at that point.
The 5000 ounces would be divided up into 50x 100 ounce shares and signed / noterised as a transferable legally binding contract. This share could then be sold to new owners with the registry updated on a sale and stored with the Bar. This allows owners to sell there shares prior to hitting the strike price (i.e. for spot value) This paper registry could also be stored online on a website to provide that extra piece of mind for all holders.
I could go into more details but you get the idea, important thing is to have a set goal and method for achieving it (basic prospectus) I'd be happy to assist in drafting one up with the specifics to allow for the transparency needed to give the share holders the confidence / security to buy in.
You can put me down for 300 ounces or 3x shares, if we did over-subscribe you can always buy a second contract. Who knows these may just get settled in cash and there may be a wave of people wanting to buy into this idea !
Have had experience in setting things like this up in the past.
Idea was to purchase (not particularly off the Comex but YES that's a much better idea) a big bar to virtually split up
You would set up a goal (i.e. to buy a contract, stand for delivery, deliver to specified address (i.e. private vault) then have a pre-determined sale price at which point the owners are then paid out in cash, i.e. a strike price of say $75.00. (owners wanting to keep smaller quantities of physical could always re-buy smaller bar locally at that point.
The 5000 ounces would be divided up into 50x 100 ounce shares and signed / noterised as a transferable legally binding contract. This share could then be sold to new owners with the registry updated on a sale and stored with the Bar. This allows owners to sell there shares prior to hitting the strike price (i.e. for spot value) This paper registry could also be stored online on a website to provide that extra piece of mind for all holders.
I could go into more details but you get the idea, important thing is to have a set goal and method for achieving it (basic prospectus) I'd be happy to assist in drafting one up with the specifics to allow for the transparency needed to give the share holders the confidence / security to buy in.
You can put me down for 300 ounces or 3x shares, if we did over-subscribe you can always buy a second contract. Who knows these may just get settled in cash and there may be a wave of people wanting to buy into this idea !
cdnmetalmetalhead
New Member
Sounds cool! Put me down for 1 oz!
@tozak - Welcome aboard!
Personally thrilled your first post relates to this topic - Cheers
Thanks for your offer in drafting something - lets see what the further interest is before committing too much time.
I think the amount of Oz's 'share' does need to be confirmed. I would love to see smaller amounts but the admin side would be a nightmare and only add further overheads,time,expense,etc
So I motion for a 100oz per share.
For stacker's looking for a smaller amount,a joint contract could be taken with other's.
Sorry cdnmetalmetalhead
Personally thrilled your first post relates to this topic - Cheers
Thanks for your offer in drafting something - lets see what the further interest is before committing too much time.
I think the amount of Oz's 'share' does need to be confirmed. I would love to see smaller amounts but the admin side would be a nightmare and only add further overheads,time,expense,etc
So I motion for a 100oz per share.
For stacker's looking for a smaller amount,a joint contract could be taken with other's.
Sorry cdnmetalmetalhead
This idea of "COMEX" or bullion banks paying a premium for people to not take delivery is BS in my opinion.
I think that's a very good point, risky part would be in actually waiting for the delivery after you stand for it. 1 month to get it to a Comex registered vault (Which JPM now is their own self- auidted vault so nothing happening in this month) then 2 months to ship it out to our address, so that's at least 3 months after standing for delivery at which point 1x contract is only small fish and could probably be ignored by JPM for a further 3 months while we are forced to threaten legal action. End of the day though it's a long time to be waiting in a market where where the supplier JPM may very well go out of business or at the very least stall settlement for years in a formal contract default. I guess all this risk "IS" the reason we are still in backwardation !
My real concern is that 5,000oz is still only a single contract and how seriously would JPM take to our legal threats if the metal didn't arrive in time ?
My real concern is that 5,000oz is still only a single contract and how seriously would JPM take to our legal threats if the metal didn't arrive in time ?
Going to go out on a limb here and say this looks like it will fizzle out as per the previous one and as per the mining tenement - or maybe I'm just pessimistic today because of the rain and crocodiles in the sewers
stellaconcepts
New Member
i might try something like this tho... on the channel... if silver gets hit hard.
will need someone we trust, perhaps I can get Mike Maloney to store for us... perhaps
will need someone we trust, perhaps I can get Mike Maloney to store for us... perhaps