I am trying to buy some physical silveer
I buy through my local bank, as I want to know if I will get delivery
I see our canadian gold mines are now considered essential. Didn't know any were shut down??
The price of silver is going down but the premim is crazy high
I have an idea some gold and silver coins may not be available, soon
I don't know if it is worth a 50-60& premium over spot to buy or not. There is always some premium, but the premium is really going up in price while spot price goes down
I was thinking of buying 100, 1 oz silver coins or bars
The bank is crazy. They have a menu a mile long and when you finally get to ask for a real person they tell you they will call back. So far, nobody has called back but I just started calling on Fri afternoon
The reason for buying is sort of like buying insurance, if the fiat system crashes. Only this insurance premium does not disappear in one yr. At least you still have some silver or gold on hand
I am not sure if I am too late for delivery but the web site said either available or low supplies, so I assume I can still get delivery of physical silver
if you go straight to a silver mine company website,... like first majestic ... you can buy all you want. but the price is quite a bit higher... at 20 bucks per ounce. you won't get it for the current price you see on kitco, etc.
if you buy a contract on the exchange, you can always try to take delivery, but chances are you will have to wait a long time, or just accept cash (paper dollars) rather than getting the metal.
or, you can buy something like a fund (like CEF), where they allow you to take delivery, but you have to own a LOT of shares. there are other funds that do this also. so if you own a quarter million worth of a fund, you can get delivery. (supposedly).
i've never heard of a bank that acts as a dealer for silver. (my banks around here don't do this).
That's the problem
Everybody wants physical gold and silver delivery
Thus the high premium over spot price
I have bought gold and silver thru our Canadian banks
The web site at the bank where I have an account still showed physical on Friday. The folks don't really like to do it, but it can be done in Canada. They don't do much and don't know how to do it without a lot of telephone calls
The price with premium was 32.00 plus CAD for a 1 oz bar or 34.00 plus for 1 oz coins
The coins said limited supply but the bars said unlimited
I want 100 bars or coins delivered which I will keep
I can't afford much more risk, just in case I am wrong
I already own physical gold and silver, bought at that bank
At that price I won't be trading them for a long time
The way every bank in the world is throwing money around I think everybodies currency will take a tumble in buying power
This money stimulas all over the world isn't done yet by a long shot . They are just spending money from thin air, hand over fist
The high premium for physical makes me think gold and silver will go up. Maybe a lot higher. I should have done this sooner but I was sitting on the fence as silver kept going down.
It's hard to get delivery of physical into Canada. Nobody wants to do it, what with shipping and insurance, customs etc.
Looks like our biggest candian gold mine is going back to work. So I read in canadian news [Barrick Gold Mine]
Our advisor said I should just buy stk in Barrick
IMHO
Buy lead. Everything else is negotiable.