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GWL3

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  • Gender
    Male
  • Location
    New York
  • Stacker/Collector
    Stacker

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  1. Great question! I can't tell you from experience since I've never attempted to sell any of my coins yet, but there are stackers out there that will buy silver in any condition. Some actually prefer well circulated and toned coins. I try to stay away from well circulated coins and tend to buy BU coins and rounds. I know my LCS will shy away from badly circulated coins, unless he know someone who will buy in that condition, which is rare for him. I also do not watch Silver YouTube Videos any longer (except for BackYard Bullion of course). Most seem to be only looking for views and likes in order to monetize their videos to buy more silver.
  2. I 100% agree @Aknot. I love the stacking community, however it seems like many of us believe the very second anything happens, (and I also agree that it probably won't happen in my lifetime) we will all be bartering with our G/S. When I purchased my first 30 oz of Silver back in 2013, I was told that I have more than 99% of the rest of the population. I know that PM's have gained popularity over the past few months, but I doubt more than 10% of the population owns physical PMs. Even if I'm way off and 25% of the population owns physical G/S, that means that 75% don't. If we do ever have a SHTF event, does that mean 75% will have nothing to trade with? Of course not, there will always be plenty of other goods and services that can be used as money. My neighbor across the street may value a handful of tomatoes, apples and potatoes more than G/S. I stack G/S as a hedge against inflation, an investment and for diversification purposes. Its also fun! I still get excited when I'm approaching my mailbox and I know there is some PMs in there , even if it is a 1oz. generic silver round.
  3. Thx for warning the newer stackers. I really hope many did not fall for this "flash sale". I heard they extended it longer than 4 hours, so that tells me they were probably having trouble selling these. They used a typical retail scheme, jack the price up and then announce a "sale" to make it seem they buyer is getting a great deal. These premiums are nuts. This is the first time in months that i'm actually not waiting for any silver to arrive. I haven't bought any silver in a while. I can't justify paying $8 - $12 premiums for ASE's or even $4 - $6 premiums on rounds! I know some say that this is the new normal, and perhaps they're right, but I'm willing to wait until some of the mines that are closed due to the pandemic to open and hopefully the supply will catch up to the demand and have an impact on lowering premiums to some degree.
  4. I'm way south NY (Orange County) , so I don't have the benefit of a non tax state nearby. My LCS is having a grand re-opening after being closed for almost a year. I'm gonna inquire about the taxation of ASE's with them. BTW, nice Pandas!
  5. Nice haul bro!! I noticed in one of your earlier posts you purchased from Bullion Exchanges and like me your from NY. Did BE charge you any taxes? I'm trying to purchase form places that don't charge taxes to NY residents. From what I understand, if you purchase more than $1000 at a time there is no tax charged. I usually only have around $500 or less to spend at a time.
  6. Not sure who the best is, but if I were you I would make sure the seller has at least 1000 transactions and 100% positive feedback. There are fakes out there, so if a deal looks too good to be true, it probably is
  7. GWL3

    Silver Rounds

    Thanks @BullionExchanges! Next time I'm in the city I'll check you guys out.
  8. I would love to go to my LCS instead of the online dealers, especially after how they treated us in March, when spot was so low. I live in a small town and my LCS is so tiny. In fact I didn't even know we had one until I was stopped at a red light last year and I just so happened to turn my head and see the shop. Due to the virus, the hours are not stable right now Very limited selection, but decent prices when they are opened. Maybe I'll gibe them a call tomorrow.
  9. Thx for the lesson on proofs. I want to get as much silver as I can at the lowest possible prices. I was thinking about looking into generic rounds to do so, however since prices spiked the past few weeks so did premiums on them. I don't want to pay $4 to $5 premiums on generics when thats what I was paying on ASE's no that long ago. I almost pulled the trigger on some Britannias today for $28.80. The best prices on generics at the time were $29.20. This would have affected my DCA a little. I see prices are back up after they reopened. I'll wait until late tonight to see if they come down after the buying frenzy. If not, I won't be too disappointed. I expect more pullbacks even during this upward trend.
  10. I'm not too familiar with proof coins. I tried to build my stack with ASE, Maple Leafs and Brittanias, with the occasional generic 10 oz bar when I get a flash sale that's spot or very close to it. I know proofs are more expensive, but have you ever sold any? Do they hold their value much better than BU ASE's?
  11. Probably a FOMO who thinks the price will be $50 by mid week. In the long run, I'm sure they will be fine. It would just throw their DCA out of wack
  12. Wow. Down below $25 right now. I feel bad for those who bid over $42 for generic buffalo rounds on Ebay with $3.95 shipping!! Ouch! By the time they get their rounds they could be more that $20 under water.
  13. Exactly. That's why I may hold off for a little while unless I receive a flash deal that is to good to pass. The price went up too much, too fast. I have a feeling (I hope) that we may be in for a little pull back soon, before another run. I just worry that the dealers will use their "out of stock" trick. I may have to rely on Ebay or a LCS if spot prices do drop enough
  14. It's amazing. Since the spot price started spiking my inbox is flooded with emails from the dealers letting me know that everything I requested is "Back in Stock". I'm sure they did get some from sellers, but a majority was probably held back until prices increased. I also doubt premiums will come down much either.
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