Collecting Gold and Silver coins

[bakuten]

You can buy a few bars now already. Gold dropped for 6 consecutive days.

Mid-Nov then see again.

haha....i forgot to state the reasons of my predictions.
its based on comex gold/silver contracts expiry dates.
its on the 25th Nov...roughly 26th Nov our time....

reason being...usually bullion banks will do the following during contracts expiry dates:

1. Dump obscene amounts of naked shorts in a short period(seconds) onto the market to drive down prices. (2-5% drop usually over a day or 2)
2. Offer expiring contracts holders above spot prices to encourage them to cash in their contracts for cash instead of taking physical delivery of the metals.
3. slowly cover the shorts back while using high frequency trading to keep the price stable while covering the shorts. (will recover abit before mkt closes for the weekend)

hope this explanation helps

 

[Dyhalt]

For those following the Comex activities might want to take note that theres actually 55 open interest for 1 physical once of gold thats still in the Comex.

What it means there are 55 owners who can claim ownership to every physical gold there is....

I would rather be the one paying a little more to get my gold RIGHT NOW instead of competing with the other 54 who might want to be settled in cash instead of gold , but thats just me

 

[bakuten]

For those following the Comex activities might want to take note that theres actually 55 open interest for 1 physical once of gold thats still in the Comex.

What it means there are 55 owners who can claim ownership to every physical gold there is....

I would rather be the one paying a little more to get my gold RIGHT NOW instead of competing with the other 54 who might want to be settled in cash instead of gold , but thats just me

Ya...its a game of musical chairs...
The last time I checked, silver was oversold 18,000 times....there are 18,000 paper ounces chasing 1 ounce of silver.... totally insane haha.

 

[Sambuca78]

Are gold coins, not bought from banks, as liquid?

This is for the long term but don't want to get a shock that 10 years later when you need the cash, no one wants to take in the coin and have to go to pawn shops at ridiculous low price.

Ya, I also want to know... but in term of Silver Bars. Where can I sell the physical silver in future if silver price increase? Thanks.

 

[makav31i]

Ya, I also want to know... but in term of Silver Bars. Where can I sell the physical silver in future if silver price increase? Thanks.

This is the problem with silver in Singapore...pawnshop only accept gold and not silver...the only option for you to sell is those stall that you purchased the silver from have a buyback policy or you sell it to another buyer...if I remember correctly, those perth mint authorized distributors are oblige to buyback the perth mint coins as it is in their contract which they signed with perth mint to create liquidity for the perth mint coins...

 

[bakuten]

Ya, I also want to know... but in term of Silver Bars. Where can I sell the physical silver in future if silver price increase? Thanks.

currently, gold is taken in at pawnshops at spot due to the huge physical demand around the world.

silver is not taken in at pawnshops at the moment. Only bullion dealers take in silver at spot or slightly under spot. google keyword: "silver bullion singapore"
the first few links are all the major bullion dealers in singapore where u can liquidate your gold/silver

 

[Shiny Things]

For those following the Comex activities might want to take note that theres actually 55 open interest for 1 physical once of gold thats still in the Comex.

What it means there are 55 owners who can claim ownership to every physical gold there is....

I would rather be the one paying a little more to get my gold RIGHT NOW instead of competing with the other 54 who might want to be settled in cash instead of gold , but thats just me

No, this is wrong.

Firstly, "Comex" (it's not Comex any more, it's been part of CME since 2008) is not the gold market. The loco-London gold market is bigger, and I reckon (though I don't know) that you'll find more gold vaulted in London than in New York. If you just look at the CME futures you're missing half the market.

Secondly, yep, you're pretty much right, there are 55 ounces worth of open interest for each ounce of "registered" gold in the CME (I get 60, but potayto/potahto). And we're coming up to delivery day right now! OH MY GOD!

Here's why this is not a problem, and this is important:

None of those 55 ounces can be called for delivery right now.

The only futures contract that's eligible for delivery right now is the November future. And open interest in the Nov13s is thirteen contracts. One-three. One less than fourteen. One thousand three hundred ounces of gold.

Where's the rest of the open interest?

200k contracts are in the December future; those will all get rolled to the January future (or the March) when they come up to maturity - because generally banks don't want to take delivery and hold huge stacks of gold in their vaults. Vaulting is bloody expensive. Have a look at the delivery stats for Comex gold futures - it's almost never more than a hundred contracts or so per month.

The other 200k is out in the January 14, Feb 14, March 14, or subsequent futures. Those can't be called for delivery until their respective maturity dates, and when that comes to pass they'll almost certainly get rolled anyway.

How do I know this? I clerked on a minor bullion bank's gold desk for a year. I handled those futures settlements and OTC settlements. I did this in real life. And nothing grinds my gears more than people making derpy comments about stuff they don't understand.

Dyhalt, Bakuten: you are both talking conspiracy theorist rubbish. You are giving bad advice. You don't know what you're on about. Stop before you hurt yourselves.

 

[bakuten]

No, this is wrong.

Firstly, "Comex" (it's not Comex any more, it's been part of CME since 2008) is not the gold market. The loco-London gold market is bigger, and I reckon (though I don't know) that you'll find more gold vaulted in London than in New York. If you just look at the CME futures you're missing half the market.

Secondly, yep, you're pretty much right, there are 55 ounces worth of open interest for each ounce of "registered" gold in the CME (I get 60, but potayto/potahto). And we're coming up to delivery day right now! OH MY GOD!

Here's why this is not a problem, and this is important:

None of those 55 ounces can be called for delivery right now.

The only futures contract that's eligible for delivery right now is the November future. And open interest in the Nov13s is thirteen contracts. One-three. One less than fourteen. One thousand three hundred ounces of gold.

Where's the rest of the open interest?

200k contracts are in the December future; those will all get rolled to the January future (or the March) when they come up to maturity - because generally banks don't want to take delivery and hold huge stacks of gold in their vaults. Vaulting is bloody expensive. Have a look at the delivery stats for Comex gold futures - it's almost never more than a hundred contracts or so per month.

The other 200k is out in the January 14, Feb 14, March 14, or subsequent futures. Those can't be called for delivery until their respective maturity dates, and when that comes to pass they'll almost certainly get rolled anyway.

How do I know this? I clerked on a minor bullion bank's gold desk for a year. I handled those futures settlements and OTC settlements. I did this in real life. And nothing grinds my gears more than people making derpy comments about stuff they don't understand.

Dyhalt, Bakuten: you are both talking conspiracy theorist rubbish. You are giving bad advice. You don't know what you're on about. Stop before you hurt yourselves.

Yep. U surely know the processes more than me.

But it still doesn't change the fact that gold n silver prices are utterly and completely manipulated. 5000 gold contracts dumped in a span of 30 seconds? Its so incredible that even the market went dark for 10secs lol

Please explain that to me what strategy and aim the seller was trying to achieve besides artificially pushing down prices trying to trigger a chain reaction of stop loss sell orders.

Anyway, conspiracy theory or not, its starting to become a predictable pattern to me. U don't have to agree with me since its my personal opinion.

 

[Dyhalt]

Thanks Shiny thing, you have cleared some of my doubts and I really thankyou for sharing your knowledge

I don't buy into those conspiracy theory thing like you mentioned (But I think calling other people's opinion rubbish is a little rude, their view might be wrong but that is no reason to condemn it, just let them reap what they believe), personally I buy gold /silver simply because I like them.

In terms of investment I'm a firm believer of value investing, gold is just a hobby which I like to spend maybe 10~20% of what I earned on (Just like car collector). Thanks for sharing

(Thought this is a gold/silver coin thread? maybe we can move back to the topic instead of discussing gold price movements here )

 

[bakuten]

Thanks Shiny thing, you have cleared some of my doubts and I really thankyou for sharing your knowledge

I don't buy into those conspiracy theory thing like you mentioned (But I think calling other people's opinion rubbish is a little rude, their view might be wrong but that is no reason to condemn it, just let them reap what they believe), personally I buy gold /silver simply because I like them.

In terms of investment I'm a firm believer of value investing, gold is just a hobby which I like to spend maybe 10~20% of what I earned on (Just like car collector). Thanks for sharing

(Thought this is a gold/silver coin thread? maybe we can move back to the topic instead of discussing gold price movements here )

Silver Pegasus rounds !

 

[Dyhalt]

Silver Pegasus rounds !

I would love to have some of these beautiful rounds

I recently bought 10 2012 Somalia Elephant Silver rounds near spot price, I'm very happy to have bought from the seller at a good bargain (Silver content checked with ultrasonic thickness gauge, condition is fair with some milk spot but still good for a hard to get coin)

 

[iCuteCube]

You guys are not intending to stack on rounds right?

For rounds, their prices are quite stagnant lol in general speaking. Would just grab a few oz, and maybe 1 tube if the design is really what i like.

What are you guys buying of round?

Let me throw some question to the floor, you can choose not to answer it, not survey, just sharing.

1) What do you stack on (Or you are just collector) ?
2) Why for Q1
3) What is your most favorite coin, can only choose 1 design, tough question.
4) What is your next hoot that you are looking at or waiting for.

Let me start the ball rolling
1) I don't really stack a lot, maybe 40% stack, 60% collector. Like to collect each design a few oz, and maybe some graded coins and exotic coins

2) Because, i not really a 100% fan of investing precious metal due to the manipulation of big brother, i just join in the flow and enjoy my coins Big reason for physical

3) China Panda (Silver/Gold) definitely. I always go for some graded, and Panda sheets. I buy from online US store. gainesville coins and apmex. Otherwise share shipment or mass order, or just buy from someone. Or Marina bay sands coin show.

4) next hoot i actually eyeing on the SM 5oz silver for balloting, if never tio also nevermind, won't spent extra money for it. Or maybe i like the NZ 1oz 2014 lunar!

 

[makav31i]

You guys are not intending to stack on rounds right?

For rounds, their prices are quite stagnant lol in general speaking. Would just grab a few oz, and maybe 1 tube if the design is really what i like.

What are you guys buying of round?

Let me throw some question to the floor, you can choose not to answer it, not survey, just sharing.

1) What do you stack on (Or you are just collector) ?
2) Why for Q1
3) What is your most favorite coin, can only choose 1 design, tough question.
4) What is your next hoot that you are looking at or waiting for.

Let me start the ball rolling
1) I don't really stack a lot, maybe 40% stack, 60% collector. Like to collect each design a few oz, and maybe some graded coins and exotic coins

2) Because, i not really a 100% fan of investing precious metal due to the manipulation of big brother, i just join in the flow and enjoy my coins Big reason for physical

3) China Panda (Silver/Gold) definitely. I always go for some graded, and Panda sheets. I buy from online US store. gainesville coins and apmex. Otherwise share shipment or mass order, or just buy from someone. Or Marina bay sands coin show.

4) next hoot i actually eyeing on the SM 5oz silver for balloting, if never tio also nevermind, won't spent extra money for it. Or maybe i like the NZ 1oz 2014 lunar!

Q1) Me mostly stack gold and not silver...Silver is like my own personal collection...

Q2) for me it is due to the liquidity and almost all pawnshop accepts gold and not silver...

Q3) I also like the Silver Panda coins...I still need to send some of my ungraded proof silver panda to NGC..

Q4) Me thinking that I would move on to China proof Silver Unicorn next...

 

[Dyhalt]

1) What do you stack on (Or you are just collector) ?
I stack on Canadian Gold/Silver leaf, probably 50% of my holdings in precious metals. Others consist of silver bars from Scottsdale/Englehard/JM/NTR and a small portion for rare coins that I like to collect (Set of kookaburra, Panda, Lunar series, Coins from Nuie island, New Zealand, Singapore mint lunar series etc)

2) Why for Q1
I don't time my purchase, I always set aside 10% of what I earn into gold/silver coins. Its my hobby. (A little more when price is good)

3) What is your most favorite coin, can only choose 1 design, tough question.
My favorite is Canadian Maple Silver Leaf, I love nature design and its 9999 purity, beautiful to look at when kept in capsules, and size is right, not as large as American Silver Eagles and not as small as 1 oz gold coins.

4) What is your next hoot that you are looking at or waiting for.
I would love to have a small stack of Britannia, I've yet to find maybe a tube at good price. (They are always overpriced)

 

[Resurrect93]

1) What do you stack on (Or you are just collector) ?
I used to stack CML only then somehow got addicted and move on PM's coins and Panda. Maybe I loses discipline, got bored of CML.

2) Why for Q1
CML for the .9999 purity, never know if in the future even .0009 matter also.

3) What is your most favorite coin, can only choose 1 design, tough question.
none - yet.

4) What is your next hoot that you are looking at or waiting for.
Silver Pegasus Round

5) I would like to ask, say if I order online for over 400dollar, would it be tax exempted IF the coins ordered are tax exempted or will still be tax 7%?

 

[makav31i]

1) What do you stack on (Or you are just collector) ?
I used to stack CML only then somehow got addicted and move on PM's coins and Panda. Maybe I loses discipline, got bored of CML.

2) Why for Q1
CML for the .9999 purity, never know if in the future even .0009 matter also.

3) What is your most favorite coin, can only choose 1 design, tough question.
none - yet.

4) What is your next hoot that you are looking at or waiting for.
Silver Pegasus Round

5) I would like to ask, say if I order online for over 400dollar, would it be tax exempted IF the coins ordered are tax exempted or will still be tax 7%?

For your question number 5, there is a form to be filled when you bring in GST exempted precious metals if I remember correctly...and also depend on which shipping company you are using..

 

[Resurrect93]

Thanks, as I am looking onto buying from Malony's GoldSilver.com. Also GoldSilverCentral got a lifetime loyalty discount program.. Quite worth it in my pov, what do you think?

 

[bakuten]

Thanks, as I am looking onto buying from Malony's GoldSilver.com. Also GoldSilverCentral got a lifetime loyalty discount program.. Quite worth it in my pov, what do you think?

Buy from Maloney will have some risks.

1. Shipping from USA (expensive and might get lost)

2. I think need to pay for credit card charge also.



Buy locally will be safer and less hassle. COD is still the safest bet.

 

[Resurrect93]

Buy from Maloney will have some risks.

1. Shipping from USA (expensive and might get lost)

2. I think need to pay for credit card charge also.



Buy locally will be safer and less hassle. COD is still the safest bet.

International Delivery - GoldSilver.com

I tried calculating, on some cases it is almost the same price as Singapore's, also there is insurance. However it would be more expensive if one get tax.

COD is..?

 

[bakuten]

Cash on delivery