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Old 05-12-2010, 11:24 PM   #51
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Zerohedge has a piece on panic buying and how it's spread from the gold to silver market in Europe.
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Old 05-14-2010, 10:33 PM   #52
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Speaking of panic buying, I noticed this recently on APMEX's website. They are out of stock on a lot of their silver in bags. link
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Old 06-02-2010, 05:37 PM   #53
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From the article:

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The US Mint has just announced it has run out of silver bullion blanks, and is suspending American Eagle Silver Proof coins, until further notice.
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Old 06-04-2010, 01:19 AM   #54
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A year ago, silver was hard to bag...err, sorry, difficult to buy because of shortages of small amounts of the metal. Now it is still in the coin shops and easy, as yet to buy good amounts for the small persons interested in hedging their meager savings.

The premium is rather high, but that shouldn't keep small amounts out of the hands of interested parties.

I have no idea what millionaires do or how they save their swag?

BTW...why use ebay? It is a rip off from several directions and using debit and credit cards is chancy even in good times with honest people. Why not find a local coin dealer in your area? There is probably one or more fine business's with good reps that have been around a long while.

You can look the merchandise over, ask questions, pay cash, as you should and walk away full of satisfaction. No waiting, no worries (how many get mugged right out the door?) And most coin dealers are wearing 'heat' right out in the open. Premiums are what they are...right now kind of high...but high measured against what? With shipping and insurance...you will be paying much more than merely a bit over spot. Spot was .50 cents and ounce a few years ago...now it is about 1.20 to 1.50 an oz from my local dealer...call them up and ask, they don't change their prices like car salesmen do...they will also tell you what price they will buy back the same silver depending on spot.

O6 says it right, you won't buy for spot...and dealers have a premium to protect them from small variations of daily trading...and they deserve a profit. And worries of far away dealers and who they are disappear.
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Old 06-05-2010, 05:22 AM   #55
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BTW...why use ebay?
I have used Ebay about eight times to buy coins. So far, I haven't had any problems getting ripped off; but I was very careful about who I bought from, making sure to look at the seller's feedback percentage and reading comments others have left about the seller. The only problem I had was a packaging issue. I have gotten some good deals on Ebay, but that took a great deal of time watching items and bidding. I found a shop locally to buy junk silver; I prefer Franklin halves. Everything else, I have been buying from APMEX.
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Old 06-25-2010, 09:41 PM   #56
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Extract ..
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However, for whatever reason, silver prices are languishing for a very long time. But for David Morgan he has a theory of when silver prices will see its day of vindication. The theory goes like this:

1. Assuming that one day, people will lose faith in fiat money, gold will be hoarded by more and more of the masses.
2. Unfortunately, gold is relatively expensive and rare and that means the majority of the masses will miss out on getting some gold for themselves.
3. When that happens, they will notice that silver is dirt cheap relative to gold (since silver prices have been languishing for a very long time).
4. Therefore, they will surge towards getting silver.

Given that silver prices are at a far lower base than gold, it doesn’t take much for silver prices to rise in absolute terms in order for it to rise a lot in percentage terms.

That’s when David Morgan believes that we will see silver prices soar.
Full article at ...http://cij.inspiriting.com/
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Old 10-27-2010, 07:34 PM   #57
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Default JPM, HSBC Sued for Silver Market Manipulation

From the story:

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Yesterday's announcement by CFTC commissioner Bart Chilton that he was fully aware of fraudulent efforts to persuade and deviously control silver prices may have been the straw that broke the gold and silver price manipulating camel's back on precious metal manipulation. Today, Brian Beatty and Peter Laskaris (Southern District Court of New York, cases 10-08146, and 10-01857) sued the two firms at the very top of the precious metal manipulation pyramid: JPMorgan and HSBC. The lawsuit, which seeks class action status, alleges that "between in or about March 2008 and continuing through the present, Defendants have combined, conspired and agreed to restrain trade in, fix, and manipulate prices of silver futures and options contracts traded in this District on the COMEX division of the NYMEX. Defendants thereby have violated Section 1 of the Sherman Act, 15 U.S.C ¶1. Also during the Class Period, individual Defendants have intentionally acted to manipulate prices of COMEX silver futures and options contracts. Such conduct violates Section 9(a) of the Commodity Exchange Act, 7 U.S.C. ¶13b." And so, the tidal wave of lawsuits by all those who may have ever lost money trading precious metals against JPM et al begins.
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Old 01-19-2011, 07:43 PM   #58
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Old 02-17-2011, 01:28 PM   #59
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Silver at highest price since 7 March 1980.
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Old 02-17-2011, 02:00 PM   #60
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I bought the vast majority of mine at under $5/oz and thought people were crazy for buying it over 10$/oz

Guess I called that one wrong.
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Old 02-17-2011, 04:06 PM   #61
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Up $1.10 USD on the 24 hour charts to $31.78
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Old 02-18-2011, 07:11 AM   #62
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I bought the vast majority of mine at under $5/oz and thought people were crazy for buying it over 10$/oz
Wow, good deal! I started buying late in the game when it was at $17/oz and I thought that was high. As long as it stays above $17, then I don't feel like I have lost money. The problem with it being this high, many people will no longer buy.
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Old 02-18-2011, 11:49 AM   #63
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Silver at $32.20. Damn.

Two very good reads regarding what's happening with the moonshot on silver can be found here and here.

Hat tip to Zerohedge posters: Beastie and Turn Ferguson
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Old 02-18-2011, 11:59 AM   #64
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$32.33
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Old 02-18-2011, 12:23 PM   #65
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$32.50
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Old 02-18-2011, 12:29 PM   #66
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$32.52
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Old 02-18-2011, 12:31 PM   #67
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I am SO po'd I didn't buy in the dip a couple of years ago, when it went down to around $7.50. I tried to talk everyone into that instead of Christmas gifts but noooo. That was back when I was (at least according to them!) I read about the real estate crash before it happened and wasn't able to fo anything about it, knew about pm's and couldn't do anything, and I really believe we at minimum will see a (global) depression like never seen before (and worse) and still don't feel like I can do anything about it There's something to be said about keeping your head in the sand ...
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Old 02-18-2011, 12:35 PM   #68
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$32.66

Will we breach $33?
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Old 02-18-2011, 01:47 PM   #69
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I didn't know that silver had been confiscated in the past! (I am copying this section because there isn't any permalink on George Ure's site, and if someone reads this next week the link only goes to the main site and they would have to rummage through the archives). Please revise this post if I didn't do it right- re: copyright.
Quote:

http://urbansurvival.com/week.htm
Yes: Silver was Confiscated, Too

A couple of readers took me to task on this point, so pay close attention here.

"Love your writing, but sometimes you get sloppy. This morning you said: "Eventually, that happens, and when it does, gold and silver got confiscated last time around."

Since when did silver get confiscated in the US? Maybe I was sleeping in that part of my history studies, but I have never heard of it...."

Well, most people haven't, unless, of course, they have really, really, really studied the Great Depression. And yes. Silver was confiscated. And no, I don't generally get that sloppy!



Refer to Franklin Roosevelt's August 9, 1934 Executive Order 6814:

"By virtue of the authority vested in me by the Silver Purchase Act of 1934 and of all other authority vested in me, I, Franklin D. Roosevelt, President of the United States of America, do hereby require the delivery of all silver situated in the continental United States on the effective date hereof, by any and all persons owning, possessing, or controlling any such silver, and do hereby require any and all persons owning, possessing, or controlling any such silver to deliver the same in the manner, upon the conditions and subject to the exceptions herein contained, such action being in my judgment necessary to effectuate the policy of the Silver Purchase Act of 1934. . . . Section 2. Silver required to be delivered..–There shall be delivered in accordance with the terms of this order all silver situated in the continental United States on the effective date hereof, except silver falling within any of the following categories so long as it continues to fall thereunder:

(a) Silver coins, whether foreign or domestic;

(b) Silver of a fineness of .8 or less, which has not entered into industrial, commercial, professional, artistic, or monetary use;

(c) Silver mined, after December 21, 1933, from natural deposits in the United States or any place subject to the jurisdiction thereof: Provided, however, That so much of such silver so mined in the continental United States on or before the effective date of this order which shall not have been deposited with a United States mint tinder the proclamation of December 21, 1933, shall, if processed to a fineness greater than .8 within 75 days from the effective date of this order, be delivered in accordance with this order, not later than 90 days from the effective date hereof, or if processed to a fineness greater than .8 after 75 days from the effective date of this order, be delivered within 15 days thereafter in accordance with this order;

(d) Silver held for industrial, professional, or artistic use and unmelted scrap silver and silver sweepings in an amount not exceeding in the aggregate 500 fine troy ounces belonging to any one person;

(e) Silver owned on the effective date hereof by a recognized foreign government, foreign central bank, or the Bank for International Settlements;

(f) Silver contained in articles fabricated and held in good faith for a specific and customary use and not for their value as silver bullion; or

(g) Silver held under a license issued in accordance with Section 6 hereof.

Section 3. Time and place of delivery..–The silver required to be delivered here under shall be delivered not later than 90 days from the effective date hereof to the United States mint nearest to the place where the silver is situated immediately prior to delivery: Provided, That such silver temporarily falling within the exempt categories enumerated in Section 2, shall be delivered at the end of 90 days from the effective date hereof, or 15 days after the time when it ceases to fall within such categories, whichever date is later. Any person acquiring ownership, possession, or control of silver required to be delivered under this order after 75 days from the effective date hereof, shall deliver such silver within 15 days of such acquisition.

SECTION 4. Amount returnable for silver..–The silver herein required to be delivered shall be coined into standard silver dollars, or otherwise added to the monetary stocks of the United States in accordance with the proclamation, bearing the same date as this order, relating to the coinage of silver, and there shall be returned therefor in standard silver dollars, silver certificates, or any other coin or currency of the United States, the monetary value of the silver so delivered (that is, $1.2929+ a fine troy ounce), less a deduction of 61 8/25 percent thereof for seigniorage, brassage, coinage, and other mint charges, as provided in such proclamation; that is, the amount returnable for the silver delivered in accordance herewith shall be an amount equal to 50+ .– a fine troy ounce, which amount is not less than the fair value, at the time of this order, of the silver required to be delivered hereunder as determined by the market price over a reasonable period terminating at the time of this order.

Section 5. Reimbursement of costs..–The Secretary of the Treasury shall pay all necessary costs, actually incurred, of the transportation of such silver and standard silver dollars, silver certificates, and other coin or currency of the United States, including the cost of insurance, protection, and such other incidental costs as may be reasonably necessary. Persons desiring reimbursement of such costs shall submit their accounts on voucher forms which may be obtained by writing to the Treasurer of the United States, Washington, D.C.

Section 6. Licenses..–The Secretary of the Treasury, subject to such regulations as he may prescribe, acting directly or through such agency or agencies as he may designate, shall issue licenses authorizing the withholding of silver which the Secretary of the Treasury, or such agency as he may designate, is satisfied

(a) is required for legitimate and customary use in industry, profession, or art by a person regularly engaged in such industry, profession, or art or in the business of processing silver or furnishing silver therefor;

(b) has been imported for reexport; or

(c) is required to fulfill an obligation to deliver silver in such amount to a third person, incurred or assumed by the applicant on or before the effective date of this order; Provided, That at the date of the application, the applicant owns such silver or holds the obligation of another to deliver to him such silver.

The Secretary of the Treasury may, with the approval of the President, issue licenses authorizing the withholding of silver for purposes deemed to be in the public interest and not inconsistent with the purposes of the Silver Purchase Act of 1934 and of this order.

Section 7. Deliveries in fulfillment of obligations or to licensees.–No person required to deliver silver owned by him or in his possession or control shall be deemed to have failed to comply with the provisions of this order, if such silver is delivered in fulfillment of an obligation incurred or assumed by such person on

So - if you think I've been joking about splitting money between precious metals, producing farm land and bonds, there's the (rather harsh) reminder of why.

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Old 02-18-2011, 01:48 PM   #70
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Btw, does this mean they could take personal silver, such as my grandmother's silver tea set???
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"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis shrink from the service of his country; but he that stands now deserves the love and thanks of men and woman. Tyranny like hell is not easily conquered yet we have this consolation with us, the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly; it is dearness only that gives everything its value."

-Thomas Paine
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Old 02-18-2011, 01:50 PM   #71
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Originally Posted by preppiechick View Post
Btw, does this mean they could take personal silver, such as my grandmother's silver tea set???
What's yours is mine and what's mine is mine to keep, comrade.
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Old 02-18-2011, 04:10 PM   #72
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Thanks liest- I'll tell grandma to bury it right now!!

Fwiw, I just read this. I take everything with a grain of salt, but when I start seeing this in multiple sites(see my prior post) then there is usually something to it:

http://www.shtfplan.com/precious-met...-2000_02182011
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"These are the times that try men's souls. The summer soldier and the sunshine patriot will, in this crisis shrink from the service of his country; but he that stands now deserves the love and thanks of men and woman. Tyranny like hell is not easily conquered yet we have this consolation with us, the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly; it is dearness only that gives everything its value."

-Thomas Paine
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Old 02-18-2011, 06:09 PM   #73
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In want won't rust. I wondered weary as ...
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Old 02-18-2011, 07:41 PM   #74
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They confiscated gold and silver in the 1930s to move to a fiat currency. This time, we are already at a fiat currency, so I don't see it happening again.
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Old 02-21-2011, 01:06 PM   #75
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$33.96 boys and girls!
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