True value of second hand bullion

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Firstly, I actually read the thread thus my assumptions are facts and I respond within context of the thread. Secondly, its no my fault if you cannot understand. Lastly, I will.
 
Wow. I thought I needed to go to an Alex Jones or a David Icke forum for illogical rants.

Glad to see its still on SS after the closure of GD.



Lets not let logic get in theway of a good idealistic rant. I mean, I believe JP Morgan owe me like... Yeah about 5 tonnes of silver for all their manipulation...

Never gonna happen though is it? :D
 
nuts man, nuts, coconuts :)

silver premium crashed for 1992 kooka, while the bullion spot going up $0.76 usd/oz

premium paid is truly second hand, oh mine mine better stick it to the BULL LION :)
 
is customs a major factor in the price of importing these generic rounds?
protecting perth mints monpoly of bullion coins seems more like monopoly protection than protecting Australian industry.

Bad enough we don't see one cent in royalties for the tonnes of gold and silver we actually own as Australians. (which we lawfully should be receiving by the way) but then we get ripped off when we actually want to buy our own gold and silver in coin, and its sent overseas so Americans buy it cheaper than us
 
Last 2000oz I brought in - $55.50 - so yep, it's all Customs fault. Had to mark up that 3c/oz to $3/oz just to recover my costs.

:|
 
ok, so customs is no big deal apparently. It's just the international shipping costs that are driving up the prices going from USA to Aussieland
 
Honestcoins said:
ok, so customs is no big deal apparently. It's just the international shipping costs that are driving up the prices going from USA to Aussieland
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That would be a flat fee I'd say, so for people stacking smaller amounts it's going to substantially add to their cost, along with postage etc.
 
RomanControl said:
Bad enough we don't see one cent in royalties for the tonnes of gold and silver we actually own as Australians. (which we lawfully should be receiving by the way) but then we get ripped off when we actually want to buy our own gold and silver in coin, and its sent overseas so Americans buy it cheaper than us
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What, you mean like in the form of a special tax on profits from mining?

COMMUNIST!
 
RomanControl said:
is customs a major factor in the price of importing these generic rounds?
protecting perth mints monpoly of bullion coins seems more like monopoly protection than protecting Australian industry.
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I wouldn't call it a major factor, but it's not a nominal cost by any means. The last few times I ordered in from Gainseville - from memory - I believe the customs charge was around $65. If you're poor like me and can only afford to order around 100 then that's a premium of 65 cents per Oz added to your cost.

Of course postage is another factor - and from memory i recall that as being around $120 - so that's another $1.20 per Oz added to your cost.

Thus in this example where 100 rounds was ordered one would be adding $1.85 per ounce to the cost payed to the bullion dealer (eg Gainsville).

Of course - if you were rolling in cash like Renovator - one can lower one's cost per ounce by ordering in serious bulk, so for arguments sake let's say you order 5000 rounds instead...

The Customs fee of $65 is then nominal per round = 1.3 cents per round.
The shipping cost per round should also work out less per round the higer the quantity ordered.
 
Yippe-Ki-Ya said:
By the way those buffalo rounds are selling at around 85 cents over spot currently (depending on how many you order). I reckon thats pretty good value for such a fine looking and popular sized piece of silver bullion!

http://www.gainesvillecoins.com/products/154673/1-oz-silver-round-999-fine-buffalo-design.aspx
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"Popular" is a relative term.

They might be popular in the U.S. but you could have issues trying to sell them locally at anything less than a big discount, especially in bulk.

All markets are local.
 
Big A.D. said:
Yippe-Ki-Ya said:
By the way those buffalo rounds are selling at around 85 cents over spot currently (depending on how many you order). I reckon thats pretty good value for such a fine looking and popular sized piece of silver bullion!

http://www.gainesvillecoins.com/products/154673/1-oz-silver-round-999-fine-buffalo-design.aspx
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"Popular" is a relative term.

They might be popular in the U.S. but you could have issues trying to sell them locally at anything less than a big discount, especially in bulk.

All markets are local.
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Well first of all I said popular sized - referring to the fact that its in 1 troy ounce size - which is certainly more popular say than 5 kg bars or even 1 kg bars simply due to the ease of disposal.

Secondly I dont believe that I would have any problems in selling these 1 ounce buffalo rounds for around spot + 10% due to their size/disposability as well as their excellent finish.

SAVVIE??!!??
 
Yippe-Ki-Ya said:
Secondly I dont believe that I would have any problems in selling these 1 ounce buffalo rounds for around spot + 10% due to their size/disposability as well as their excellent finish.

SAVVIE??!!??
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You should ask Roman about his experiences of selling Buffalo rounds on here :P
 
I have to admit, I have 20 buffalo rounds, although they are cheap and are of 1oz .999. However there is something unappealing about them to me. I'd rather pay abit more and get ASE's or Maples.
 
Big A.D. said:
They might be popular in the U.S. but you could have issues trying to sell them locally at anything less than a big discount, especially in bulk........
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I'm curious as to why you think that one would need to sell them at a big discount here is Oz? 1 oz of .999 silver is 1 oz of .999 silver.

Here in Oz, all .999 silver sells at quite large premium over spot unless its in the form of large ugly bars. The issue most people ( I won't name the whiners in this thread) appear to be facing is the relative paucity of 1 oz ROUNDS here in Australia, priced anywhere near spot. In fact, to the contrary, some sellers are asking for way above normal pricing for rounds, equating them in price to many 1 oz bullion COINS. There don't seem to be any sellers of these rounds in Australia who are having to sell at a big discount. The cheapest I could find so far was Bullion Bourse who is selling tubes of 20 for $34.10 AUD each (plus post) which is approx $3.10 over AUD spot. As an aside, he is also selling 500g ABC bars at a price which works out to approx $31.84 AUD/oz which is approx 94c over spot. The point I'm making is that these .999 US rounds do sell for a significant premium over spot here in Oz compared to the premium over spot in the USA.

A pity one of the US manufacturers of rounds didn't set up a subsidury refinery/mint here in Oz (not such an easy matter I realise) I'm sure the low premium over spot would give Perth Mint more than a little competition and give cause for lower premiums on 1 oz bullion items.
 
hussman said:
I have to admit, I have 20 buffalo rounds, although they are cheap and are of 1oz .999. However there is something unappealing about them to me. I'd rather pay abit more and get ASE's or Maples.
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which is why ASE and Maple COINS have a larger premium, even in the USA. :)
 
hussman said:
I have to admit, I have 20 buffalo rounds, although they are cheap and are of 1oz .999. However there is something unappealing about them to me. I'd rather pay abit more and get ASE's or Maples.
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There's something unappealing about many of the cast silver bullion bars as well, but that doesn't mean diddley nor change the fact that they sell for above spot price.

ANY 1 ounce 999+ silver bar/round will sell for a fair bit above spot simply due to its convenient size. its that simple! savvie??!!??
 
Spot is an industrial figure. You are lucky to get spot. What you get at spot is raw product. A bar is a little more, a round a little more than that, and a coin more than the round. Add the distance and customs to that and you pay a little more. Koalas are the cheapest coin you can get in Australia from Australia and everybody calls it shit.

You get what you pay for. Most people accept that. Your stack is an extension of your persona. Cheap stack = shallow person.
 
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