perhaps the most retarded idea I've ever had

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So quick and stupid question for the silver autists that seem to enjoy this thread:

I stopped by a bank today that sells silver bullion. When I asked about 1 oz. silver coins, they said they had '2022 silver eagle coins for $34".
Is that a good price? What exactly are the numbers that I should be looking for?
 
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Dr. Geronimo said:
So quick and stupid question for the silver autists that seem to enjoy this thread:

I stopped by a bank today that sells silver bullion. When I asked about 1 oz. silver coins, they said they had '2022 silver eagle coins for $34".
Is that a good price? What exactly are the numbers that I should be looking for?
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From a quick Google search it sounds pretty generic and probably okay.
 
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Dr. Geronimo said:
So quick and stupid question for the silver autists that seem to enjoy this thread:

I stopped by a bank today that sells silver bullion. When I asked about 1 oz. silver coins, they said they had '2022 silver eagle coins for $34".
Is that a good price? What exactly are the numbers that I should be looking for?
Click to expand...
You'll want to watch the silver spot price to know what you're paying for. Spot will reflect the value of one Troy ounce of metal which is the minimum value you can expect to sell for. You will always pay a price above spot to purchase and the amount will vary depending on what you're buying and who you are buying from.

Spot price is around $24 right now so you would be paying $10 over spot. The question is if that is excessive. Right off the bat Uncle Sam is selling Silver Eagles to dealers at $2 over spot so you'll always be paying for that $2 for a current year Silver Eagle. If you just want one coin just for the fun of it then $34 is about the going rate for a single bullion Silver Eagle. Bullion is intended as a store of wealth so ideally you purchase it in a manner that gets you as close to spot as possible. You're not doing a very good job at storing wealth if every ounce you buy is $8 loss going to someone else. Coins do have numismatic value in excess of their metal content but Silver Eagles aren't exactly rare or valuable beyond the silver in them and the characters, "One Dollar" stamped on it.

If you just want one or two for the sake of having it you're probably better off paying the premium for a proof Silver Eagle instead of bullion. It will be pretty and mirror shiny and come sealed in a capsule like the MotherFucker coins plus also come in a nice velvet box. Since they're limited mintage and collector type items they can hold that value over spot a little better. The mint hasn't made them available yet for this year but you can order proof coins direct from them once they do.
 
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Joshuan Moon said:
You'll want to watch the silver spot price to know what you're paying for. Spot will reflect the value of one Troy ounce of metal which is the minimum value you can expect to sell for. You will always pay a price above spot to purchase and the amount will vary depending on what you're buying and who you are buying from.

Spot price is around $24 right now so you would be paying $10 over spot. The question is if that is excessive. Right off the bat Uncle Sam is selling Silver Eagles to dealers at $2 over spot so you'll always be paying for that $2 for a current year Silver Eagle. If you just want one coin just for the fun of it then $34 is about the going rate for a single bullion Silver Eagle. Bullion is intended as a store of wealth so ideally you purchase it in a manner that gets you as close to spot as possible. You're not doing a very good job at storing wealth if every ounce you buy is $8 loss going to someone else. Coins do have numismatic value in excess of their metal content but Silver Eagles aren't exactly rare or valuable beyond the silver in them and the characters, "One Dollar" stamped on it.

If you just want one or two for the sake of having it you're probably better off paying the premium for a proof Silver Eagle instead of bullion. It will be pretty and mirror shiny and come sealed in a capsule like the MotherFucker coins plus also come in a nice velvet box. Since they're limited mintage and collector type items they can hold that value over spot a little better. The mint hasn't made them available yet for this year but you can order proof coins direct from them once they do.
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Thank you for the info. I really appreciate it. Do you have any tips on how to find some silver at a lower price?
 
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Dr. Geronimo said:
Thank you for the info. I really appreciate it. Do you have any tips on how to find some silver at a lower price?
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Become good friends with someone who is a distributor able to purchase those $2 above spot Silver Eagles direct from the mint and bring him some beer? lol

I like to stick with proof coins and sets from the mint mostly. They are nice to look at. I'm only just recently looking at ordering bullion in any real quantity myself. As with most things in life buying in bulk is your easiest savings. There are plenty of online bullion distributors who offer discounts off the markup for purchases made in largest quantity as well as discounts for paying with check. I can't recommend any particular one as I've never actually bought from one.

You have the option of getting silver from a private mint or from a government run mint. Private mint silver will be the cheapest option with a smaller markup but on the resale market it might be more difficult to move or recover that value above spot because people might find negative value in the Autistic Tranny stamped on it or might have less trust that the product is true to its marked quality. Government backed precious coinage will always be more expensive. One reason is because it is legal tender so the face value is part of the price. A Silver Eagle is $1 so even if the mint took a loss on the striking expenses it would still have to charge at least a dollar above spot to account for the face value. The other reason is because governments are backing it and governments aren't likely to just disappear like a private mint can. The coin has some good backing behind it being what it claims to be. People trust them so there is an value to having more expensive government coins over meme tokens. You are selling a silver coin vs selling silver shaped like a coin. Its a distinction that can't be ignored but probably isn't too big of a deal in most cases.

You can save a little bit more by buying coins from randomly selected years instead of from listings that call out a year. And also you can consider buying junk silver. Junk silver should be able to get you close to spot pricing too but in general you'll probably have to put in some effort to find it. Anything on ebay will be instantly at spot price and my experience with pawn shops is that they overcharge and can't really be trusted to get the silver content right. You can try to find junk silver out in the wild but you got about 60 years of people taking silver out of circulation before you. Quarters/dimes/half-dollar coins prior to 1965 will have silver in it among a few others you can look up. Doesn't hurt to check the date on the change you come across but don't have high hopes.
 
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Final Update on the 2021 Kiwi Coin

You are receiving this email because you bought a silver coin from Mad at the Internet in 2021.

I apologize for the difficulties the run has had. At this point in time, you should all have your coins.

If you still have not received your order, please contact me at <jcmoon@pm.me> from the email address you used. Please supply your order ID as well. I will first check your tracking number. If the order is marked as errored by the post service, or if you have not received it for whatever reason, I can either issue a refund or try to send out a replacement. I do not have many leftovers, so please do not wait.

I will be selling the last of my inventory by the end of the month, then I will be purging customer data from my records before doing the spring merchandise sale (which will likely be apparel).

Thank you for your endless patience,
Josh
 
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Null said:
Thank you for your endless patience,
Josh
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I'm pretty impressed with this. It's hard not to compare it to shit like old SA fundraisers where Kyanka would just literally steal the money and not even lift a finger toward doing whatever it was raised for. Meanwhile you have this unmitigated logistical disaster and you put in Herculean efforts to make everything right anyway.

You totally suck at grifting dude. You should take some pride in that.
 
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Null said:
I will be selling the last of my inventory by the end of the month, then I will be purging customer data from my records before doing the spring merchandise sale (which will likely be apparel).
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I will not stop shilling for a hat run.
1645292106921.png
 
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I was glad to get Josh's email this morning. Got my coins a while back, enjoy them. Looking forward to the spring merch run. Yeah, I sure could go for a KF hat this time.

Josh did an honorable thing in sending his email. Not everyone acts in this manner, especially these days. Sadly, you are far more likely to encounter dishonorable behavior. Seeing Josh's honorable action made me very happy.

As always, appreciate being one of Josh's guests on the site.
 
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It is a shame the coin run turned into such a shitshow because the final product was very cool. I love my coins, I am mesmerized by how shiny they are like a tard, and I love clinking two together. Maybe after some time has passed Null will be willing to try again, but I understand if he never wants anything to do with them again.
 
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