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Re: What's going on with silver?

Posted: Thu Aug 29, 2019 3:40 pm
by Kriegsspiel
dualstow wrote:
Thu Aug 29, 2019 2:47 pm
Two detectorists in England found enough Norman silver coins to give Ad O a treasure bath -

https://www.bbc.com/news/uk-england-somerset-49487078
That's cool as shit, coins with William the Conqueror and King Harold.

This part is a big downer though:
Under the Treasure Act 1996, finders of potential treasure in England, Wales and Northern Ireland are legally obliged to notify their local coroner
An inquest then determines whether the finds constitute treasure
The act contains a number of definitions of "treasure", including prehistoric objects, coins that contain gold or silver and are at least 300 years old, or more recent valuable objects that have been deliberately hidden
If the find is declared treasure, the finder must offer it for sale to a museum at a price set by the British Museum's Treasure Valuation Committee
Hmm, I wonder what they think a fair price is?
If the hoard is officially declared as treasure, the Roman Baths in Bath hopes to acquire the coins.

Stephen Clews, from the Roman Baths, said: "If you look at the true value of this, it's about 500 sheep - that's what you would have been to able to buy with them about 1,000 years ago.

"So what we need to do is translate that into some sort of modern value."
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

Re: What's going on with silver?

Posted: Thu Aug 29, 2019 9:12 pm
by dualstow
btw, as you can guess, coroner does not mean over there what it means in the U.S. I learned that watching the hilarious and charming British show, ‘Detectorists.’

Re: What's going on with silver?

Posted: Tue Sep 03, 2019 8:26 pm
by Ad Orientem
Wow. Silver blew right past $19 oz. And fwiw, silver is decoupling from gold. It won't last of course. But recently silver has been going up pretty much regardless of what gold has been doing. It took a while but I think some of the big boys have figured out that silver is still somewhat cheap relative to gold. That said, the silver gold price ratio has dropped below 80:1 for the first time since I started buying a little over a year ago. While I still think there could be more upside, I am not buying anymore. Below 80:1 silver is a hold in my book.

Re: What's going on with silver?

Posted: Wed Sep 04, 2019 3:47 pm
by ochotona
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.

Re: What's going on with silver?

Posted: Thu Sep 05, 2019 10:29 am
by Ad Orientem
ochotona wrote:
Wed Sep 04, 2019 3:47 pm
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
Wow. You timed that well.

Re: What's going on with silver?

Posted: Thu Sep 05, 2019 11:31 am
by ochotona
Ad Orientem wrote:
Thu Sep 05, 2019 10:29 am
ochotona wrote:
Wed Sep 04, 2019 3:47 pm
I sold my small SIVR position today, it was up 25% in a very short period of time. It was in my HSA, when it moves over to Fidelity, I will be buying IAU...or maybe rebuying SIVR if it is below where I sold it. But I'm keeping the 100 oz bar.
Wow. You timed that well.
I think this belongs in the "what have we learned over the past ten years thread" - Nothing goes up in a straight line. You simply have to sell or partially sell geometric moves up.

Re: What's going on with silver?

Posted: Fri Sep 06, 2019 1:58 pm
by Ad Orientem
The last 48 hrs... Looks like someone beat the snot out of silver with the ugly stick.

I need to turn off the TV and computer, and go find a good book to read.

Re: What's going on with silver?

Posted: Fri Sep 06, 2019 2:58 pm
by Smith1776
Excellent. I was hoping for an opportunity to add to my physical collection today. ;)

Re: What's going on with silver?

Posted: Fri Sep 06, 2019 3:00 pm
by dualstow
I have a Queen's Beasts silver coin from a year ago that's already starting to tarnish on the edges. I use cotton gloves now, but I think I'm done buying silver, except that which I'll give away.

Re: What's going on with silver?

Posted: Fri Sep 06, 2019 3:08 pm
by Smith1776
dualstow wrote:
Fri Sep 06, 2019 3:00 pm
I have a Queen's Beasts silver coin from a year ago that's already starting to tarnish on the edges. I use cotton gloves now, but I think I'm done buying silver, except that which I'll give away.
The tarnishing is an absolute pain.

The bullion dealer I favour gives out these free little plastic sleeves that fit quite tight around the surfaces of the coins... that has seemed to help some.

I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.

Re: What's going on with silver?

Posted: Fri Sep 06, 2019 5:40 pm
by dualstow
Smith1776 wrote:
Fri Sep 06, 2019 3:08 pm
...
I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.
I don’t know, because I’ve never stacked them on my desk. O0 I don’t have any silver larger than a coin, and I only have about 30 coins.

Re: What's going on with silver?

Posted: Fri Sep 06, 2019 6:21 pm
by Ad Orientem
Smith1776 wrote:
Fri Sep 06, 2019 3:08 pm

I've got to say though: I'm sure you'll agree that seeing literal stacks of silver on the desk is mighty satisfying.

Image

Damn. Now I want to buy more.

Re: What's going on with silver?

Posted: Sat Sep 07, 2019 6:25 am
by ochotona
Nothing beats the 100 oz bar. It has amazing fondle characteristics. If we get a good price dip, think about getting one. The premium over spot is lower.

Re: What's going on with silver?

Posted: Sat Sep 07, 2019 7:27 am
by Kriegsspiel
You guys made me go look at some silver. Like ocho implied, the premium is definitely higher than gold, about double. They look cool though.

Re: What's going on with silver?

Posted: Sat Sep 07, 2019 12:23 pm
by Ad Orientem
ochotona wrote:
Sat Sep 07, 2019 6:25 am
Nothing beats the 100 oz bar. It has amazing fondle characteristics. If we get a good price dip, think about getting one. The premium over spot is lower.

I have a friend who let me hold one of his and I suddenly understood the look in his eyes suggestive of animal lust.

Re: What's going on with silver?

Posted: Sat Sep 07, 2019 2:50 pm
by ochotona
Ad Orientem wrote:
Sat Sep 07, 2019 12:23 pm
ochotona wrote:
Sat Sep 07, 2019 6:25 am
Nothing beats the 100 oz bar. It has amazing fondle characteristics. If we get a good price dip, think about getting one. The premium over spot is lower.

I have a friend who let me hold one of his and I suddenly understood the look in his eyes suggestive of animal lust.

Re: What's going on with silver?

Posted: Sat Sep 07, 2019 3:42 pm
by dualstow
We're still talking about silver here, right guys? ???


O0

Re: What's going on with silver?

Posted: Sat Sep 07, 2019 3:55 pm
by Ad Orientem
LOL

Re: What's going on with silver?

Posted: Fri Sep 13, 2019 1:36 pm
by ochotona
Whoa...

Re: What's going on with silver?

Posted: Fri Sep 13, 2019 2:40 pm
by Ad Orientem
M U S T B E S T R O N G- M U S T N O T B U Y 100 OZ B A R

Re: What's going on with silver?

Posted: Mon Sep 23, 2019 7:17 am
by dualstow
up 3%

Re: What's going on with silver?

Posted: Mon Sep 23, 2019 1:49 pm
by Ad Orientem
Ad Orientem wrote:
Fri Sep 13, 2019 2:40 pm
M U S T B E S T R O N G- M U S T N O T B U Y 100 OZ B A R

DAMN!

Re: What's going on with silver?

Posted: Wed Nov 27, 2019 3:29 pm
by Ad Orientem
JM Bullion has 10 oz bars on sale for .29 cents over spot. I hate these evil bastards. They are like pushers waving my drug of choice under my nose at a cut rate price.

https://www.jmbullion.com/on-sale/?con ... 9zubgamux#

Re: What's going on with silver?

Posted: Thu Feb 27, 2020 11:38 am
by Ad Orientem
Silver is not doing well at all in the present crisis and is hugely underperforming gold. I suspect this is largely due to silver's dual nature as both a precious and industrial metal. In any situation that is likely to have broadly negative ramifications for the economy, demand for industrial metals will fall. Current silver/gold price ratio is 92:1.

Re: What's going on with silver?

Posted: Thu Feb 27, 2020 1:40 pm
by Hal
Ad Orientem wrote:
Wed Nov 27, 2019 3:29 pm
JM Bullion has 10 oz bars on sale for .29 cents over spot. I hate these evil bastards. They are like pushers waving my drug of choice under my nose at a cut rate price.

https://www.jmbullion.com/on-sale/?con ... 9zubgamux#
Better not visit Perth then :)

Additional Weights
Additional silver bullion cast bars up to 1,000oz can be purchased from The Perth Mint by contacting our Bullion Desk:
1300 201 112 Australia only
+61 8 9421 7218 International Callers*
E-mail: info@perthmintbullion.com