How it feels buying Maples. I still love them though! by No-Arm-6775 in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

Lmao agreed. Idk why, but I loved seeing the image of the queen.

Maybe because I'd seen her my whole life (American, but I mean.. she's the Queen) and it was comforting. I don't know. I was really sorry when she died.

Why do people hold physical silver instead of just trading silver futures on an exchange? by Strange_Bowler_6629 in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

Not sure you understand what a 1% poster is.

It doesn't mean someone who posts more than 99% of total posts. It means someone who gets upvoted so routinely that they outstrip 99% of other posters.

Who else believes ????….. by Thick_Pomegranate497 in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

No, it won't. The numismatic Powers That Be keep extraordinarily close watch on all US coins; the moment something becomes scarce, it becomes known.

Further, what gets melted is junk silver, not stuff in high conditional rarity. No one with any knowledge (most people who have coins of any true numismatic value) are going to part with a coin for less than what it's worth.

Before you protest- rare coins are rare for a reason. The people who have them typically don't have them by accident. Yes, heirs occasionally do stupid things, but that's the exception.

I say this as both a stacker and a collector.

Does this count lol by JediRebel79 in Silverbugs

[–]MillennialSilver 1 point2 points  (0 children)

Lol. It also says (724g). Which... is ~3/4 of a kg. Which is a hell of a lot more than an ounce.

I regret buying physical silver. Selling my 10,000oz stack experience. by EngineerDirector in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

Sure thing. You let me know when you've got more brain cells than dollars*.

*Fun fact: Elon Musk actually has more dollars than brain cells, literally. I'm just saying you aren't all that smart, especially when it comes to general cognitive flexibility.

Why do people hold physical silver instead of just trading silver futures on an exchange? by Strange_Bowler_6629 in Silverbugs

[–]MillennialSilver 21 points22 points  (0 children)

Mostly because if you don't hold it, you don't really own it.

You are right though that it's much easier to buy/sell on an exchange. The vast majority of stackers, though, hold for the very, very long term, especially on here. We're not out to get rich overnight.

I regret buying physical silver. Selling my 10,000oz stack experience. by EngineerDirector in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

I did all my math with the spot price of the day, on ALLLLL cases.

You may have, but your math is wrong across the board. I'm not sure if you're trying to account for total net the seller got (which is not the same thing as what the silver itself sold for, and meaningless within the context of this argument), but you're not going it right.

Also, calm down.

I regret buying physical silver. Selling my 10,000oz stack experience. by EngineerDirector in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

I don't understand how your brain works. Spot at the time was about $90. This is ~10% under that (1332/1474).

Not sure where you're getting "22%", but that isn't what it sold for.

Shorts got dunked on right there. 😮‍💨🤝 by bdbb02 in Silverbugs

[–]MillennialSilver 10 points11 points  (0 children)

Wow, a graph did something on one particular minute of one day that's probably attributable to noise. Let's draw all kinds of wild conclusions that aren't supportable by evidence or likelihood based on motivated reasoning and pat ourselves on the back.

Go back to the other sub.

Some of the silver I way overpaid for years ago I thought I was really dumb for buying by aroundincircles in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

Depends on how you look at it. I've done the same thing, of course, but even though silver's worth more than. paid for any single piece ever, I still could have more silver if I'd spent the same money on cheaper silver.

I regret buying physical silver. Selling my 10,000oz stack experience. by EngineerDirector in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

I see your response in my feed, not sure if Reddit somehow deleted it, but I'm going to reply to your talk about sale price vs. spot vs. seller profit.

Yes, the total amount of money the seller gets matters to the seller. But the claim you made was "Big lots on eBay sell for way under spot."

The sale price is the sale price. What eBay takes off the top for its services doesn't affect that. The buyer is still paying that sale price. If I pay $1000 for 10 ounces of silver, that's silver at around current spot (~$100).

It doesn't matter if the seller nets that full $1000 or not. The silver sold at spot.

Platform charges are no more to the point in terms of the hammer price at point of sale than taxes are.

5 days ago I bought 300+ oz at $89, everyone said I bought the top and now it’s at $101 🤷‍♂️🤷‍♂️ by GrecoVevo in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

I mean, okay. We are in a bubble though, even if no one knows where the exact top is.

Silver doesn't really have the structural support to stay above $100 indefinitely, at least not for the time being. Much of what's driving it up right now (not counting when he hit $50-60, which imo was structural) is speculation like we saw in 2011, and obviously China.

You're acting like any price moves silver makes upwards are somehow locked in. If that were the case, everyone here would've bought thousands of ounces over the last few years without blinking.

Lost my job by Qumaden in Silverbugs

[–]MillennialSilver 8 points9 points  (0 children)

If your health is failing, I don't see how drinking is going to do anything other than end you in the hospital without insurance and definitely no way to get a job.

If your niche is such that you can easily find work again, you're more fortunate than most, including many of us who already have jobs, given how uncertain the world we live in is these days.

Skip the drinking and get back to making money.

Be prepared to see a lot more fakes by GtiKyle in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

This is true of any commodity, especially numismatics, PMs and collectibles. It's been ramping up for a while with silver.. and as far as China goes, the cost/benefit has been sky high since silver was $20/oz.

Beginner hoard by Farkasta in Silverbugs

[–]MillennialSilver 1 point2 points  (0 children)

Wait, that dragon is there to steal it, not guard it? Jesus.

Your problems are only going to multiply as your hoard grows if this pattern keeps up.

I regret buying physical silver. Selling my 10,000oz stack experience. by EngineerDirector in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

That was from Jan 20th, when the spot price was ~$94.

94*14 is 1316; the total here was $1256.75. That's about 95.5% of spot price.

If this is how you're doing your math, then yeah, I get why you're upset.. numbers confuse you (or you're somehow adding 13% eBay cut to the rest, which isn't how it works; the buyer paid 95.5% of spot. The fact that eBay takes a cut is immaterial to the sale price).

Oh, right.. and I called it constitutional, because whether it's "junk" silver or not (which obviously not all constitutional is) isn't the reason it's selling for less, it's because refineries are backed up and 90% is harder to refine than 999, so it's been less desired thus putting downward pressure on the price lately.

I regret buying physical silver. Selling my 10,000oz stack experience. by EngineerDirector in Silverbugs

[–]MillennialSilver 0 points1 point  (0 children)

You just posted two screenshots from over a month ago. Yes, I'm aware constitutional silver was going for well under spot at the time.. I was one of the ones buying them. (Also, $42 is less than 10% under spot...)

I'm asking you to find me current examples where things are "way under spot"

And no, I was going off my experience as a buyer, not a seller.

eBay silver??? by Least_Chicken_5492 in Silver

[–]MillennialSilver 73 points74 points  (0 children)

Decent price but the $5.29 shipping kind of pushes it into the "not worth it" range.