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Thread: Buying ONLY 100oz silver bricks

  1. #1
    Join Date
    Mar 2009
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    Illinios USA
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    97

    Default Buying ONLY 100oz silver bricks

    What are the drawbacks of purchasing only 100oz silver bars? Why should we be more diverse in our purchases?

    My uncle who is now retired, has all his money stuffed in his home safe because he has never trusted banks. About a month ago he got into PM…and is now a self appointed expert. He says you should stay away from coins or any polished silver. That bricks are the only smart investment when dealing with silver.

    I tried to tell him every type of silver purchase has its advantages and disadvantages but to buy only 100oz bricks is not smart. But because he’s “The Expert”, he would not listen to me. He has now got my cousin buying only bricks.

    It’s my plan to talk to my cousin and try to explain why he needs to invest in other types of silver other than just brick…and I want to make sure I have all the facts.
    Don't buy or sell silver to these people:
    Barack Obama - He will give your silver to others who refuse to buy their own.
    Nancy Pelosi - You must pay first to find out how much silver content the coins will have.
    Harry Reid - He will overcharge you to support the cowboy poets.
    Dick Durbin - He's just too busy kissing Obama's backside.
    Debbie Wasserman-Schultz - She'll insist it's gold until your head explodes.

  2. #2
    Join Date
    Mar 2009
    Posts
    910

    Default

    Smartest thing to do is to buy your own silver and let others buy their own silver, or not, as they see fit. Especially when it comes to family members.
    Hi Ho Silver ... Away

  3. #3
    Join Date
    Jan 2010
    Posts
    737

    Default Variety is the Spice of Life

    I like my life REAL spicey.
    Some from Column A/B/C and D ( just no paper silver of any kind).
    Personally, I see a liquidity issue with 100 ouncers if the USD goes the way of the Papiermark of Germany or something more current the Zimbabwean Dollar.

    But YOU may be able to benefit via arbitrage. Let them keep doing what they do. You keep stacking with your plan. When the above happens you could be an outlet for their "Bricks" at 85-90% of spot.

    "You can lead a horse to water, but you can't MAKE him drink".

    You've done what you can. Be ready to assist them picking up the pieces
    Last edited by Goldbrix; 29th March 2010 at 21:22. Reason: wrong word changed
    Gb

    LUCK favors the PREPARED darling. - "Edna Mole"

    ATTENTION Liberals and Progressives - The path to HELL is paved with good intentions.
    ( The USA is certainly spiraling in that direction)

    "The future ain't what it used to be". - Yogi Berra

    .

  4. #4
    Sakata Guest

    Default

    1. 100oz bars may not be pure silver. The risk is much less with smaller bars.
    2. When silver is $100/oz you cannot sell a 100oz bar to anyone who had less than $10,000.
    3. Following on from 2, if it comes to needing to barter (a remote but distinct possibility), most people will not me able to make change for a 100 oz when you need bread. They will be able to make change for a 1 oz bar or a 90% quarter.
    4. Smaller amounts will be in greater demand in a crisis and so resale premiums may be higher.

    Need any more? Those should be convincing.

  5. #5
    Join Date
    Mar 2009
    Location
    Illinios USA
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    Default

    Quote Originally Posted by Sakata View Post
    1. 100oz bars may not be pure silver. The risk is much less with smaller bars.
    How do you know this? If not pure what are they?
    Don't buy or sell silver to these people:
    Barack Obama - He will give your silver to others who refuse to buy their own.
    Nancy Pelosi - You must pay first to find out how much silver content the coins will have.
    Harry Reid - He will overcharge you to support the cowboy poets.
    Dick Durbin - He's just too busy kissing Obama's backside.
    Debbie Wasserman-Schultz - She'll insist it's gold until your head explodes.

  6. #6
    Join Date
    Mar 2009
    Location
    Illinios USA
    Posts
    97

    Default

    What about when you want to cash some 100oz bars in?

    Will you have problems taking a half dozen bars into a coin shop? How many will they buy? What if you did not purchase the silver from them?
    Don't buy or sell silver to these people:
    Barack Obama - He will give your silver to others who refuse to buy their own.
    Nancy Pelosi - You must pay first to find out how much silver content the coins will have.
    Harry Reid - He will overcharge you to support the cowboy poets.
    Dick Durbin - He's just too busy kissing Obama's backside.
    Debbie Wasserman-Schultz - She'll insist it's gold until your head explodes.

  7. #7
    Sakata Guest

    Default

    Quote Originally Posted by eyoung View Post
    How do you know this? If not pure what are they?
    Search this site for the words molybdenum and tungsten and you will see what I mean. I am not saying it is a big problem and at present it is not one to be overly worried about. But as the FRN decreases from the present 1/17th toz Ag to 1/100th toz Ag I think it might become a bigger concern.
    Last edited by Sakata; 29th March 2010 at 10:20.

  8. #8
    Sakata Guest

    Default

    Quote Originally Posted by eyoung View Post
    What about when you want to cash some 100oz bars in?

    Will you have problems taking a half dozen bars into a coin shop? How many will they buy? What if you did not purchase the silver from them?
    Will you really want to sell 600 oz at once at the local shop? I doubt it.

  9. #9
    Join Date
    Mar 2009
    Location
    Illinios USA
    Posts
    97

    Default

    Quote Originally Posted by Sakata View Post
    Will you really want to sell 600 oz at once at the local shop? I doubt it.
    If all the "ifs" in life go your way, the only time you would ever need to sell is if silver goes way up and you want to sell a bit to celebrate. However there are times in everyone's life when he/she needs lots of cash fast.

    My thinking is that unless you purchased the 100oz silver bars, where you are trying to unload them, the vendor will say no thanks. If you are in need of fast cash and you take multiple bars to the place you bought them they will not be able to take them all back at once (I'm talking local coin shop here). He will end up taking them to pawn shops where he will get a really lousy deal.
    Don't buy or sell silver to these people:
    Barack Obama - He will give your silver to others who refuse to buy their own.
    Nancy Pelosi - You must pay first to find out how much silver content the coins will have.
    Harry Reid - He will overcharge you to support the cowboy poets.
    Dick Durbin - He's just too busy kissing Obama's backside.
    Debbie Wasserman-Schultz - She'll insist it's gold until your head explodes.

  10. #10
    Sakata Guest

    Default

    Quote Originally Posted by eyoung View Post
    If all the "ifs" in life go your way, the only time you would ever need to sell is if silver goes way up and you want to sell a bit to celebrate. However there are times in everyone's life when he/she needs lots of cash fast.

    My thinking is that unless you purchased the 100oz silver bars, where you are trying to unload them, the vendor will say no thanks. If you are in need of fast cash and you take multiple bars to the place you bought them they will not be able to take them all back at once (I'm talking local coin shop here). He will end up taking them to pawn shops where he will get a really lousy deal.
    Buy them from APMEX. They will buy back what you get from them.

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