(Topic ID: 286786)

Precious Metals? Gold, Silver, Prospecting and Collecting.


By phil-lee

3 months ago

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  • 176 posts
  • 27 Pinsiders participating
  • Latest reply 1 day ago by Crash
  • Topic is favorited by 11 Pinsiders

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There are 176 posts in this topic. You are on page 4 of 4.
#151 55 days ago

Junk gold, silver, diamonds and copper, its everywhere.
The Lions Club was famous for collecting no longer used eyeglasses on drives. They provided vision enhancement for many that couldn't afford it, they still do.
The Pair in the photo without lenses are 12kt, low grade but still refineable.
The other pair are pince de noise, or pinch the nose. 22 Kt and I'm converting them to polarized sunglasses.
Also pictured is a heavy copper "Arthritic copper bracelet" popular in the 80's.
The Ladies watches are gold filled, the Company Fob solid 24kt.
All the other bric brac has little value, gold plated, gold filled.Small bag of diamonds removed from jewelry. On a bed of Euros.
Many of us have junk valuables piled up in boxes and scattered.
If it is a usable piece, like the sunglasses, bring it out and use it. Collect the rest and separate and identify it.
My Uncle Mickey bought bags of this stuff from Pawn Shops in Miami in the 70's, it was his job.
I was fascinated while he picked through it wearing a monacle and squinting.
In Miami at that time many rare watches in various need of repair was scrapped for gold and silver.
Uncle Mickey taught me the Trade. Miss him.
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#152 55 days ago

Mickey taught me how to differentiate grades of metal,based on color foremost, then hardness.
Showed me that any vintage gold will have some kind of stamp no matter how small.
It took a magnifying head piece to see the stamping on the glasses, really minuscule but there.
He only did the acid test if the Customer was adamant it was solid, otherwise, he knew the results.
Mickey and my Aunt Lilly lived in the Fountanblue Hotel in Miami. After the Jackie Gleason heyday it fell in disrepair and was rented out in apartments.
Remember going through the basement to the one working elevator and seeing the old Jackie Gleason Props stored there in piled up and cobweb condition.
Mickey also ran a salvage warehouse at that time, he gave us early Spanish-language Superman comics and fishing lures.
He had a hooked pick that he used to tear apart watches, brooches, rings. we went through many bags, everyday.

He also ended up with many musical instruments, I remember a rare piccolo he brought to our house at Christmas and played and sang a dozen Hannakah songs live in our living room.
We were amazed.

#153 51 days ago

Absolutely not mine and not in my possession now or ever (or I wouldn’t post this), but check out what I helped put in capsules for a client today before she brought them to her bank for safe keeping...

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#154 51 days ago

That is awesome right there! Thanks for sharing Tiger. I'm not quite there yet in the gold department.

#155 51 days ago

I have to say, those Britannia’s are nothing short of the most gorgeous coin I have ever seen, much less held. The security features are off the chart, they make the Eagle look like a late 19th century coin by comparison. Also, the price over spot is an outright bargain.

So, my client wanted just under 100k of gold. After vetting the options, I gave her three proposals to consider among...she effectively obtained three extra coins by going with the Britannia’s over the Eagles (55 ounces instead of 52 for just $200 separation in price). I had never really considered the Britannia’s until the 2021 upgrade and the Eagles and Buffalos going bandannas with the premium. My guess is the Britannia outsells the Buffalo this year for sure. The Eagles are getting a mid-year refresh so we will see what happens with those, I’m sure they will finish the year #1 like they always do...but that premium over spot needs to drop before I’ll recommend it to anyone.

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#156 51 days ago

Daaang, dropping $100k on gold in one swoop! Those Brits do look amazing.

#157 50 days ago

Those are cool.
That design dates back to the trade dollar in the 1800s.
Back then silver rather than gold was mostly used for world trade (especially in the East). Total opposite of today, but in Asia the wanted silver and that’s how a lot of world trade was facilitated.
The Mexican 8 real was probably number one at the time, but was competing with things like the US trade dollar, British trade dollar, Japanese trade dollar and yen etc.
Britainia is a pretty timeless design.

Here’s a pic of a trade dollar (not my coin, random photo from internet).

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#158 50 days ago
Quoted from TigerLaw:

I have to say, those Britannia’s are nothing short of the most gorgeous coin I have ever seen, much less held. The security features are off the chart, they make the Eagle look like a late 19th century coin by comparison. Also, the price over spot is an outright bargain.
So, my client wanted just under 100k of gold. After vetting the options, I gave her three proposals to consider among...she effectively obtained three extra coins by going with the Britannia’s over the Eagles (55 ounces instead of 52 for just $200 separation in price). I had never really considered the Britannia’s until the 2021 upgrade and the Eagles and Buffalos going bandannas with the premium. My guess is the Britannia outsells the Buffalo this year for sure. The Eagles are getting a mid-year refresh so we will see what happens with those, I’m sure they will finish the year #1 like they always do...but that premium over spot needs to drop before I’ll recommend it to anyone.
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Thats a great way to pass on some inheritance to your heirs. I have thought about this but never explored its legality

#159 50 days ago
Quoted from Coindork:

Those are cool.
That design dates back to the trade dollar in the 1800s.
Back then silver rather than gold was mostly used for world trade (especially in the East). Total opposite of today, but in Asia the wanted silver and that’s how a lot of world trade was facilitated.
The Mexican 8 real was probably number one at the time, but was competing with things like the US trade dollar, British trade dollar, Japanese trade dollar and yen etc.
Britainia is a pretty timeless design.
Here’s a pic of a trade dollar (not my coin, random photo from internet).
[quoted image]

I'm a firm believer in storing wealth in and trading metals, as societies around the globe used to, before the fiat dollar came into play. You can print dollars all day, but can't print gold and silver. They are hard assets that have been proven throughout world history to be effective.

As far as buying silver, I go to Dallas Gold and Silver Exchange's Bullion Express eBay store. I also check a reputable pawn shop's eBay store. Yes there are eBay fees and shipping which cost a little more, but DGSE offers quantity discounts on their buffalo silver rounds. Before they sold out of these a couple weeks ago, there were no quantity discounts. So I'm thinking they buy large bars and melt/stamp them locally then sell online when they have supply. This allows them to pass their economies of scale savings on to the customer. And I also tested multiple ways to verify their coins are legit. They seem to be the biggest metals dealer in Texas and have an awesome reputation. 100% rating on eBay with thousands of sales in less than 3 years. I mean these things are selling over 50 ounces a day. Crazy demand.


#160 49 days ago
Quoted from TigerLaw:

Eagles and Buffalos going bandannas with the premium

There is perceived higher value with American gold.
I read several comments today from younger stackers and one stood out.
"Coin collecting is over, it's all about bullion weight now"
I am sure many collectors would disagree, these revelations are coming from a new (younger, less experienced)breed.
I did notice some silver Bar offerings in the 1 ounce range not only out of stock but commanding like premiums with coins of the same size.

#161 48 days ago

Those silver rounds from DGSE are selling out as soon as they are back in stock. Thousands sold daily. So fast even that I couldn't check out because the stock counter on eBay was behind.

#162 43 days ago

Small order for March, arrived in 5 days. 5 Gram Credit Suisse and 2 Krugerrand's (silver). I really like the fractional Liberty Valcambi and will go for a 10 gram in April. The milk spotting problems with the earlier Krugers seems to have been resolved, nice looking coins.
Going to concentrate on gold and let silver ride for awhile until premiums come down.

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#163 43 days ago

Why are precious metals not keeping up with inflation?

Quoted from Crash:

I'm a firm believer in storing wealth in and trading metals, as societies around the globe used to, before the fiat dollar came into play. You can print dollars all day, but can't print gold and silver. They are hard assets that have been proven throughout world history to be effective.
As far as buying silver, I go to Dallas Gold and Silver Exchange's Bullion Express eBay store. I also check a reputable pawn shop's eBay store. Yes there are eBay fees and shipping which cost a little more, but DGSE offers quantity discounts on their buffalo silver rounds. Before they sold out of these a couple weeks ago, there were no quantity discounts. So I'm thinking they buy large bars and melt/stamp them locally then sell online when they have supply. This allows them to pass their economies of scale savings on to the customer. And I also tested multiple ways to verify their coins are legit. They seem to be the biggest metals dealer in Texas and have an awesome reputation. 100% rating on eBay with thousands of sales in less than 3 years. I mean these things are selling over 50 ounces a day. Crazy demand.

#164 42 days ago
Quoted from Pdxmonkey:

Why are precious metals not keeping up with inflation?

Because the Federal Reserve, which is a private bank, and others have been suppressing the value of gold and silver since around the 1980s. The actual value of these metals, is much higher. This makes silver cheaper than a steak dinner. Good for buyers, but I believe people are starting to wake up to that and see metals as a viable alternative should the dollar hyper inflate and collapse some day.

https://www.roadtoroota.com/public/94.cfm

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#165 42 days ago

Here’s a fun show and tell.
I bought a group of shipwreck coins recovered from the Akerendam (Dutch shipwreck that sank off the coast of Norway in 1724).

The coins were totally encrusted and unidentifiable when I got them.
Been soaking off and dissolving the marine encrustation to see what I’ve got.
It’s kind of like playing a scratcher.
Some are winners, some are pretty eaten up from salt water. Mostly various Dutch coins from different provinces and coins from Spanish Netherlands (places like Antwerp).
This is all bullion that was on route to Indonesia for trade in the 1700s.
The coins have some corrosion from salt water exposure, but all in all I’m pretty happy with what they look like.
Pretty neat.

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2 weeks later
#166 25 days ago

Just picked 40 of these up to pass out at this years Thanksgiving get together. Be a good reminder for all who survived the pandemic . We will have alot to be thankful for when this is over .

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#167 25 days ago

do meteorites count? I bought two lovely ones off a fellow pinsider. they're precious, and metals... )

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#168 25 days ago
Quoted from cait001:

do meteorites count? I bought two lovely ones off a fellow pinsider. they're precious, and metals... )
[quoted image]

Awesome.
I used to own a nice Camp del Cielo meteorite. They actually do contain some precious metal in very small trace amounts, including trace iridium.
Although mostly iron nickel, there’s a lot of random stuff in the mix on those things.
Very cool.

2 weeks later
#169 6 days ago

Is it normal for gold bars to have higher premiums for higher quantities? Hero Bullion does this for their fractional gold bars. I've read it's supposed to be opposite, with lower premiums the more you buy. Saves on distribution and packaging costs for fewer pieces stocked.

#170 6 days ago
Quoted from Crash:

Is it normal for gold bars to have higher premiums for higher quantities? Hero Bullion does this for their fractional gold bars. I've read it's supposed to be opposite, with lower premiums the more you buy. Saves on distribution and packaging costs for fewer pieces stocked.

So you're saying they want to charge you more money per individual item if you order multiple of the same thing?
If so, then no that is not normal.

#171 5 days ago

Not exactly. What I meant is higher quantities of weight. The heavier bars that weigh multiple grams have higher premiums vs. the one gram bars.

#172 2 days ago

I dont know if this is out of place, but does anyone want some wearable gold jewelry, a few points below spot?

#173 2 days ago
Quoted from Crash:

Not exactly. What I meant is higher quantities of weight. The heavier bars that weigh multiple grams have higher premiums vs. the one gram bars.

I would have to see some examples.
Some items demand larger premiums than others. Some it’s just a percentage, so by that nature a larger item will have a larger premium in dollars.

#174 1 day ago

Here's an explanation I have from Hero Bullion:

"Hello,

Thank you for your inquiry regarding the premium per gram for 1, 2.5, and 5 gram Valcambi Gold Bars. Here is what I found:

Valcambi 1g Gold Bar = $19.99 over spot per oz
Valcambi 2.5g Gold Bar = $28 over spot per oz
Valcambi 5g Gold Bar = $29 over spot per oz

Here are the formulas I used to calculate the premiums above:

spot/weight = melt price or price per gram
spot x weight + premium = Price
Valcambi 1g Gold Bar = $58.49 x 1g = $58.49 + $19.99 = $78.48
Valcambi 2.5g Gold Bar = $58.49 x 2.5 = $146.23 + $28 = $174.23
Valcambi 5g Gold Bar = $58.49 x 5 = 292.45 + $29 = $321.45

I hope this information is helpful. Please let me know if you have any additional questions or concerns. Have a great day!"

#175 1 day ago
Quoted from Crash:

Here's an explanation I have from Hero Bullion:
"Hello,
Thank you for your inquiry regarding the premium per gram for 1, 2.5, and 5 gram Valcambi Gold Bars. Here is what I found:
Valcambi 1g Gold Bar = $19.99 over spot per oz
Valcambi 2.5g Gold Bar = $28 over spot per oz
Valcambi 5g Gold Bar = $29 over spot per oz
Here are the formulas I used to calculate the premiums above:
spot/weight = melt price or price per gram
spot x weight + premium = Price
Valcambi 1g Gold Bar = $58.49 x 1g = $58.49 + $19.99 = $78.48
Valcambi 2.5g Gold Bar = $58.49 x 2.5 = $146.23 + $28 = $174.23
Valcambi 5g Gold Bar = $58.49 x 5 = 292.45 + $29 = $321.45
I hope this information is helpful. Please let me know if you have any additional questions or concerns. Have a great day!"

Ok, gotcha.
This breakdown actually makes perfect sense.
A few thing to keep in mind:
There are fixed costs associated with minting an item. Examples, refining the metal, creating planchets, producing dies, striking the coin or bar.

Just to get it into coin or bar form there is some kind of set up costs involved. Sure melt = whatever price on a given day, but that doesn’t account for production costs (at least on a newer product).

So it’s not necessarily a percentage over spot, in as much as is a set cost plus a percentage. And yes if you are buying multiple ounces it always cheaper to buy larger units, than a quantity of smaller fractional units.
It’s a lot easier to strike one 1 ounce bar, than ten 1/10 ounce bars (which is 10 times the labor).

#176 1 day ago

Right, and that makes sense from an economies of scale standpoint. I don't understand the high premium for larger pieces. IE, a $19.99 premium for a 1g bar, a $28 premium for a 2.5g bar, and a $29 premium for a 5g bar. This is just the premium, and of course buying more grams is more money. The premiums should be lower for higher weight bars.

The only thing I can think of is Valcambi is charging bullion dealers a higher premium for larger bars, maybe due to supply and demand. Then the dealers have to pass that cost on to the buyer. Perhaps the larger bars are just selling out a lot more, driving up the the price and negating any savings from economies of scale. Those larger sizes were out of stock when I checked. And shortly after the smallest 1g bar went out of stock as well.

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