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Kraken

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    United Kingdom

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    Devon, UK
  • Stacker/Collector
    Both

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  1. Kraken

    Minting own silver

    That's possible, but if you have a clean blade and don't let it heat up too much I'm not sure how much of an issue it would be in practice - the blanks for coins are cut using steel dies, and jewellers have special saws. If you were concerned, you could sand the cut edge to take off the potentially contaminated layer, or use a laser cutter (an expensive option, but if you've got 36 kg of silver you're trying to take delivery of, it's likely to be comparable in price). Additionally, you could always send the finished product to an assay office to get the silver content verified.
  2. Kraken

    Minting own silver

    There's plenty of uses for a 1000 oz bar: a door stop, a mantelpiece ornament... The possibilities are endless! Seriously though, pure silver is quite soft so if you've got a saw that can cut through steel you'd probably be fine - you could then melt the smaller pieces individually and cast them. Seconding this.
  3. Kraken

    The coming Gold crash

    Quick, get him to spam the thread a thousand times and then we can all buy on the cheap!
  4. Makes sense, as they'll put in the biggest orders so will get priority.
  5. I had a target to get 100oz of silver by the end of the year - I've blown past that one already! My next target is 1oz of gold by Christmas. I could go and buy one right now but I prefer to keep about six months' expenses in cash, so I'll have to do frac. Excellent pictures btw, really shows the detail of the coins.
  6. Kraken

    UK Junk silver

    To be fair, I haven't bought any since late May, but I found browsing bulk collections at unsocial times gave better deals. Set your upper limit when you've decided to bid and don't bid up again. Rinse and repeat. Sooner or later you'll win something.
  7. My vote would be for one of these: With the typeface from this one:
  8. Kraken

    UK Junk silver

    I enjoy stacking junk silver, but I'd say £20/oz for pre-1947 is too high for me. My rule of thumb is up to £1 over spot for it, and I've not had any trouble buying at that price. Pre-1920 I'm willing to pay a little more for due to the higher silver content, but I still wouldn't pay as much as I would for 999 fine. That's not to say that you won't find buyers at that price, though - if you list it on ebay at the right time, you can fetch a good price for it. In terms of hypothetically bartering with it, I doubt you'd have any issues, although I don't see needing to as being especially likely. I think the pre-1947 might actually have an advantage over the older stuff in that situation as it's generally in better condition and more recognisable, although you'd obviously have to hand over more of it because of the lower silver content.
  9. 200 oz since the start of the month! And I thought I'd gone hard with my stacking... I had a couple of the 2 oz krakens arrive yesterday, gotta love the heft to them - feels a lot more like money than a plastic card. If you're strictly looking to gain ounces, you might get good deals on junk silver - if you're on ebay at the right time, you can actually pick it up under spot. As others have mentioned, adding some gold might be a good idea if you've got the funds, as it's an extremely compact store of value. I don't know what reasons you're stacking for, but how you diversify is worth thinking about. Are you planning for a SHTF scenario or is this for wealth preservation? Because the answer to that question will determine your strategy going forward. In my case, I'm mainly trying to do the latter, but at the same time I'm distinctly aware of the possibility of food shortages in the UK in the coming months, so I'm also trying to get ahead of that. I'm also looking into ways to protect myself against the devaluation of the pound, which PMs definitely help with, but I'm also looking into undervalued stocks in the US and European exchanges. As a New Yorker, these concerns won't be applicable to you, but you'll have your own motivations which will inform your decisions. And as well, an exit strategy is always worth keeping in mind - if you do need/want to sell, what options do you have to make sure you don't take an unnecessary hit?
  10. Kraken

    US silver

    I've just watched a video by SalivateMetal on the dollar-to-silver ratio: But to be honest, I'm not sure what the relevance is of that statistic. If the US government wanted to buy the entire world's production of silver for a year, I doubt they'd have to pay every single dollar in existence to get it (even taking into account the increase in price because of the huge increase in demand). If you consider PMs to be a hedge against inflation, then you can extrapolate from the 1913 price at around 2% per year, then you can work out its expected value today: $2.64 x 1.02^107 = $21.97 Which is a bit above current spot price, but I'd say it's close enough that it tracks pretty well (in fact, using a current spot price of $18, you get a year-on-year growth of 1.8%). Similarly, you can figure out the rate of growth in the money supply in that time: $2.64 x (1 + g)^107 = $3621 Which gives growth g = 7%. If you take off the 2% for inflation, then the adjusted rate of growth in the money supply is 5% per year. To me, this just tells me that the US economy has grown by an average of 5% per year since 1913, and while I can't seem to find data to hand going back that far, looking at the graph on this page (which charts from 1930) seems to track with that. To me it seems like people read to much into the dollar-to-silver ratio. There are plenty of other reasons to buy silver, but I'd say it's a red herring that primarily benefits bullion dealers rather than the average stacker.
  11. I paid just over £10/ozt for 8.5 ozt of silver (in the form of pre-1947 shillings and half crowns) in April from ebay - the person who I bought them off sent me about 20 more shillings than was advertised. I sent a message offering to pay the difference but they declined, so I guess it worked out well for me!
  12. What a wild ride this thread was. No, it doesn't bother me that the Queen's head is on British coins. As other people have mentioned, there's historical and symbolic reasons for it, and it helps recognisability as legal tender (which I believe is required to have the monarch's profile by law). Additionally, it provides a guarantee that the PM content is backed by the issuing government (UK or Commonwealth). If the Royal Mint were to secretly debase their coins, then I feel like that would be the least of UK stackers' worries...
  13. I actually tried to order from this site, but I couldn't because it said that there was something wrong with my address... I was annoyed at the time but it sounds like I got lucky! I'm glad to hear that you got a refund @werewolf, could have been a much more expensive lesson for both of us. Here's hoping that @thesongofthunder gets their money back too.
  14. I ordered two of these a couple of weeks ago, I was originally just going to buy Maples but I saw the design and knew I needed them. I'd love to know where I could get a few of these, too.
  15. Hi all, I'm new to the Silver Forum, but I've been stacking since 2014... well, I bought 6 oz back then and forgot I had it for six years! I've started it up again this year, and I found this place a few months ago. I usually tend to lurk online rather than post a lot, but I thought hey, might as well create an account, so here we are. I hope you're all well and I look forward to being part of the community.
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