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Re: Ag going back into the teens?
Posted:
Sat Jul 02, 2022 7:31 amby NDFarmer
I went to the Walmart site. Put the 20 Buffalo rounds in my cart. Went to check out and they wanted to charge me $36.00 for sales tax. So that's a NO GO!!!
Re: Ag going back into the teens?
Posted:
Sat Jul 02, 2022 9:25 amby JerrySpringer
NDFarmer wrote:I went to the Walmart site. Put the 20 Buffalo rounds in my cart. Went to check out and they wanted to charge me $36.00 for sales tax. So that's a NO GO!!!
Does your state charge sales tax?
Re: Ag going back into the teens?
Posted:
Sat Jul 02, 2022 9:34 amby JerrySpringer
JerrySpringer wrote:NDFarmer wrote:I went to the Walmart site. Put the 20 Buffalo rounds in my cart. Went to check out and they wanted to charge me $36.00 for sales tax. So that's a NO GO!!!
Does your state charge sales tax?
Dug further. ND does not charge sales tax on 0.999 silver. My referral to Walmart was started via Reddit. Here is the thread I saw on it:
https://old.reddit.com/r/Wallstreetsilv ... ver_taxes/Maybe the sales taxes can be nullified for orders with some tenacity. Not sure how/why Apmex is selling silver for half the premium on Walmart vs. the Apmex site.
Re: Ag going back into the teens?
Posted:
Tue Jul 05, 2022 1:52 pmby Cu Penny Hoarder
Cu Penny Hoarder wrote:Cu Penny Hoarder wrote:Today I received 4 emails from different bullion dealers advertising their "sales".
I hope Ag gets down in the teens soon and doesn't pop back up again. It's been in the $20-30 trading range for the last 2 years.
And again... today I received 5 emails about bullion dealer sales.
Contrary signal.
Ag prices definitely moving lower. Keep that dry powder ready!
Let's get back on topic here...
Ag price is moving lower. Now $19.10
The contrary (bullion dealer sales) signal working out very well.
Re: Ag going back into the teens?
Posted:
Thu Jul 07, 2022 10:25 amby Thogey
common ASEs carring a $10-15 premium on Ebay this morning.
Re: Ag going back into the teens?
Posted:
Thu Jul 07, 2022 11:06 amby franklin
APMEX has random year ASEs for $15 premium if you buy up to 19 of them. That is a 76% premium.
Re: Ag going back into the teens?
Posted:
Thu Jul 07, 2022 1:55 pmby Cu Penny Hoarder
franklin wrote:APMEX has random year ASEs for $15 premium if you buy up to 19 of them. That is a 76% premium.
Pure greed. All inventory is readily available too, that goes for most online bullion dealers.
It's bizarre how people buy when price is higher on hype and FOMO, but don't buy when prices are lower. Counterintuitive human behavior.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 6:37 amby Cu Penny Hoarder
$18.63 as I type this.
The WSS newbs who went all in at $30 and on PSLV on the Ag squeeze hype must be very concerned right now.
Never buy any asset on FOMO or hype.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 7:11 amby Morsecode
$12 to $14 by Labor Day.
No special insights, just a wild a** guess.
Cracks me up that anyone is paying a premium over 10% right now.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 7:19 amby Cu Penny Hoarder
Morsecode wrote:$12 to $14 by Labor Day.
No special insights, just a wild a** guess.
Cracks me up that anyone is paying a premium over 10% right now.
Very possible and it's my view as well.
Even though Ag price is tanking, if Ag price continue to
trickle lower, I think the higher priced bullion dealers will eventually be forced to lower the premiums. If prices quickly
crash back down to $12, they won't lower them.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 9:14 amby Corsair
Anecdotal evidence from eBay suggests premiums are falling. Over the previous month or so, 90% junk went for about 20x face including shipping. Yesterday and today, they're going for about 19x face. Not a huge drop by any means, but worth noting.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 3:16 pmby 68Camaro
Worth keeping in mind that we are currently paying a ~20% premium on the USD vs the last silver crash in early 2020, so $18 silver now is rather much like $15.40 silver was then, so the bottom might not go back to the same $12. $14.40 is the new $12, meaning we might be getting close to a bottom. Watch the premiums. If premiums get down to $2 or less on generic with spot at $15 or less, it might be the bottom.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 4:59 pmby NDFarmer
68Camaro wrote: If premiums get down to $2 or less
Do you think premiums will ever go back to $2? Or are $5 plus premiums here to stay?
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 6:43 pmby franklin
I paid 3.25 premium for Silver Buffaloes last week from SD Bullion. I don't figure $2 will be seen anytime soon.
Re: Ag going back into the teens?
Posted:
Thu Jul 14, 2022 8:48 pmby 68Camaro
Never say never. Premiums in bulk were $2 2 years ago when silver dropped to just below 12. If supply exceeds demand (people are afraid to buy because they think the price will continue to drop) then premiums will drop to entice sales.
Re: Ag going back into the teens?
Posted:
Fri Jul 22, 2022 9:27 pmby everything
It could be until the end of year before we see the ever so slowly silver price finally bottom out, and then into 2023, talk about patience. Allot is mined, around a billion ounces a year, it will be available. Since the world is economically intertwined .. industrially speaking a good global recession should bring us all some extra silver this go around.
It seems like if we shop around privately we can find around $2 over spot, especially on 10 oz. bars, I have not purchased lately but just checked some connections.
Re: Ag going back into the teens?
Posted:
Sat Jul 23, 2022 8:59 amby Cu Penny Hoarder
68Camaro wrote:Never say never. Premiums in bulk were $2 2 years ago when silver dropped to just below 12. If supply exceeds demand (people are afraid to buy because they think the price will continue to drop) then premiums will drop to entice sales.
I agree, however if the 900,000 ASE purchase by that female billionaire is true, that should keep premiums high for a while. Inventory will remain low for the next several months. She also bought lots of 90% and $50 mil in gold.
Also, if more rich people starting piling into silver, premiums will head even higher as any remaining inventory gets wiped out. The $2-3 premium on ASEs and $0.50 premium on 90% may have become a thing of the past. Eventually the COMEX paper price would become insignificant and dealers would sell Ag for whatever they want to price it at.
Re: Ag going back into the teens?
Posted:
Sat Jul 23, 2022 9:06 amby Cu Penny Hoarder
everything wrote:It could be until the end of year before we see the ever so slowly silver price finally bottom out, and then into 2023, talk about patience. Allot is mined, around a billion ounces a year, it will be available. Since the world is economically intertwined .. industrially speaking a good global recession should bring us all some extra silver this go around.
It seems like if we shop around privately we can find around $2 over spot, especially on 10 oz. bars, I have not purchased lately but just checked some connections.
If paper Ag price keeps heading lower, Ag mining is no longer profitable and miners cease operations. Industry would still be able to get if from the byproduct of zinc, lead and nickel mining though.
Re: Ag going back into the teens?
Posted:
Sat Jul 23, 2022 4:06 pmby pennypicker
I still see people paying 24x face on ebay for circulated 1964 Kennedy halves...seems that the Kennedy mystique and iconic nature and history of that coin continues to pull at the heartstrings of collectors.
Re: Ag going back into the teens?
Posted:
Sat Jul 23, 2022 6:25 pmby Cu Penny Hoarder
pennypicker wrote:I still see people paying 24x face on ebay for circulated 1964 Kennedy halves...seems that the Kennedy mystique and iconic nature and history of that coin continues to pull at the heartstrings of collectors.
Yes. Many JFK halves were hoarded in 1964/65, this is why there are so many around in AU and MS condition. I imagine many were melted in 1979/80 too.