# Silver hitting all time highs?



## MineGuy (Mar 8, 2011)

Silver broke through $36.00 today.

Where do you all think the value in silver companies lies?

Should I be looking at a silver company like Mines Management with a big resource but a long road to production or a company like United Mining Group nearing production.

Which makes the most sense or should I be looking at a producer?


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## Cal (Jun 17, 2009)

http://www.theglobeandmail.com/repo...shining-gold-says-eric-sprott/article1934314/


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## fatcat (Nov 11, 2009)

http://seekingalpha.com/article/256...out-hedging-silver-until-50?source=qp_article


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## MineGuy (Mar 8, 2011)

*Thanks guys*

Thank you for these two articles.

I am pretty sure silver is heading up over the mid-term; the question is how to leverage that with junior shares.


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## Argonaut (Dec 7, 2010)

Silver is starting to get hype, so it is time to get out. I told everyone I knew in August to buy silver and it has doubled since then. I have no buying interest in it anymore compared to gold. Waiting until it corrects big time.

Not trying to toot my own horn here; I have made some bad trades, but silver was my big winner last year for sure.


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## fatcat (Nov 11, 2009)

I remember passing on silver at $12

Oh well, I am happy with where I am with oil.

I am inclined to think that oil is just as much an inflation hedge with a less frightening downside possibility.

I certainly agree that silver is overheated.

If we have another crash and the Fed, under political pressure, refuses to print more money, we could see a huge pullback in metals.
It seems to me that the demand for metals is entirely driven by the federal reserve.

Whereas oil has somewhat better fundamentals.

Anyway, good job on calling silver. Glad you made a nice gain.


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## Mike59 (May 22, 2010)

I danced with silver last year (SVR.UN) and took some nice gains also, but bailed in late January. The gold miners index dropped below it's 200 day moving average so I bailed on all precious metal. 

I'm chalking my performance up to a combination of sheer luck and skepticism about the entire world market, but must admit I don't have the stomach to ride a roller coaster that steep too often. 

I can never tell when or if silver has peaked, and when it drops 4+% in one day one can't help but have their finger on the button


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## humble_pie (Jun 7, 2009)

might you be a spammer, MineGuy ?

i ask because the unusual configuration here - unknown beginner poster commences by pushing 2 specific junior miners - suggests a party with an agenda ...


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## MineGuy (Mar 8, 2011)

Why, no I mightn't be humble_pie. 

If you actually read my query you will note that each of the companies I mention is at a different stage of production and I am genuinely interested in the views of the people here as to which might be the better bet or if silver is a bet worth making at all.


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## ddkay (Nov 20, 2010)

This BMO report released Monday has been making rounds on various bull boards. I don't have any precious metal ETFs in my portfolio, but silver looks enticing and I am seriously trying to decide which if any I could add.


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## el oro (Jun 16, 2009)

There is no ETF that holds a bunch of silver miners that I'm aware of. SLW, however, serves the same purpose. It holds silver streams from several companies so operational risk from any one source is low. 

For physical silver ETFs, you've got SBT.UN.TO for pure silver play. CEF.A.TO is 50/50 gold/silver and is trading at historically low premium to NAV due to their plans to add more silver and gold. There's SLV and probably some other as well.

For individual miners/explorers you'll actually have to do some work and research each company.


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## fatcat (Nov 11, 2009)

also look at: PRECIOUS METALS BULLION TRUST (Public, TSEBU.UN) which holds equal dollar amounts of gold, silver and platinum and last time i looked, was trading at a discount to NAV with .35 mer


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## ddkay (Nov 20, 2010)

Precious metals have always been a difficult area for me to research, so I do in a way feel more comfortable buying ETFs or Trusts. Thanks for throwing out some ideas.


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## Brian Weatherdon CFP (Jan 18, 2011)

It's the volatility that hurts first of all, and if you sell you never know when to get back in (as evidenced with writers above). Bigger problem is the long long loonngg lllloonnggg period of adjustment when it falls off the map for a couple of decades.

In precious metals I hold Mackenzie and Dynamic funds (and XGD could suit). Not touching specific holdings myself. I did in the 1980s and 1990s: no winning that game. I'm not trying to decide which holdings to own, or for how long. I just figure the uptrend remains intact and is suitable as part of wider allocation.

BW


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## Taxsaver (Jun 7, 2009)

It is now at US$39.40. I think summer is a lower-price period (seasonality). But if you have it, you may want to keep it until it may reach $60 next December.


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## ddkay (Nov 20, 2010)

I found an ETF with a bunch of silver miners, Global X Silver Miners (NYSE:SIL)


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## ddkay (Nov 20, 2010)

Miners - Pan American Silver Corp (PAAS) is "on sale" this afternoon. Bolivia is considering nationalizing their mines


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## Jungle (Feb 17, 2010)

Seems now you're just chasing what's already inflated.


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## ddkay (Nov 20, 2010)

I'm not chasing, I haven't bought into silver yet. I was considering PBU.UN but the low liquidity and historical trading under NAV concerns me. Just watching for now.

I was hoping the Goldman reports that this commodity rally is "over" would bring SLV below $39, hardly made a dent though.


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## fatcat (Nov 11, 2009)

i have SLW as part of XMA but i would be afraid to jump into silver at this point ..

has the industrial demand / supply equation of silver suddenly become so reconfigured just in the last year, i doubt it .. ?

it's pure speculative hype, which is fine, as long as you got in a year ago

silver is too high and is too shaky to allow me to sleep well at night

gold, i understand but silver i don't


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## ArmchairHero (Apr 4, 2011)

.. and silver just keeps on soaring!!

what do you guys think of Claymore's SVR.C, trading at a discount unlike other bullion holders currently at huge premiums?


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## Taxsaver (Jun 7, 2009)

Gold is not increasing very much silver. It probably increased by 20% in 10 days. I keep my physical silver for now. I bought a small amount of it, so I can sleep well at night whatever happens.


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## dogcom (May 23, 2009)

I think silver is now starting to go parabolic. If you have the guts you can play HZD for some fast money when this thing turns around.


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## ddkay (Nov 20, 2010)

I was thinking of ordering a 50 lot of 1oz coins for the long term to pass it on even generations. It feels odd to pay twice as much as I would have a few months ago. There's no telling when this is going to come back to where it used to be under $20 an oz, or if it's going to consolidate at these new highs. Confused about what I should do.


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## Argonaut (Dec 7, 2010)

It's funny how the same people that were calling gold a bubble are riding the silver bandwagon at the late stages. I don't mean anyone on this forum in particular. But silver looks an awful lot like a bubble to me, while gold is steady with sensible market action. Reminds me of the market manipulation back in 1980, even though I wasn't even born. 

I loved silver when it was below $20, but it just does not warrant a triple in the short term. I believe it is worth 1/50 of gold in real, physical terms and trade accordingly. Right now it would be worth $30.


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## ddkay (Nov 20, 2010)

Who's manipulating it this time though? In the 80's in was the Hunt's brothers, in the 90's it was Buffet... I think it's going up because of fear demand


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## dogcom (May 23, 2009)

This silver bull could hit between 100-300 dollars before it is done but like oil when it spiked to $147 and Uranium that went well over a $100, silver will correct hard before you see those lofty highs. 

As for the reasons, it doesn't matter, there are always great reasons why it or anything else should go to the moon.


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## Mike59 (May 22, 2010)

Given that precious metal miners have not appreciate nearly as much as bullion over the last year, what does everyone think the metal miners stocks as an investment going forward? 

I pulled out and took profits around the January 2011 dip, but wonder if this is a good time to poke my toes back in before silver and gold prices go to the moon...This chart I located in researching US money supply gave me a chill  :










It seems to me like silver/gold miners at some point will have an opportunity to realize insane profits if bullion can achieve the 500-1000% gain needed to match the production of money that's taken place .


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## ddkay (Nov 20, 2010)

What are the capital gain rates on physical gold and silver bullion?


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## fatcat (Nov 11, 2009)

i have the feeling that silver and gold investing is like a guy holding a huge stack of plates and another climbs a ladder and puts more on one plate at a time
the stack is getting higher but the downward pressure of the stack is also increasing

i can see the case for 2000 gold and 100 silver but it takes cojones to get in big time at this point

i'll keep buying XMA i guess which has just gone sideways for months

god help metals investors if any good news breaks out ..


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## ddkay (Nov 20, 2010)

http://www.cra-arc.gc.ca/E/pub/tg/t4037/t4037-e.html

Edit:



> Listed personal property (LPP) - is a type of personal-use property. The principal difference between LPP and other personal-use properties is that LPP usually increases in value over time. LPP includes all or any part of any interest in or any right to the following properties:
> 
> prints, etchings, drawings, paintings, sculptures, or other similar works of art;
> jewellery;
> ...


So it looks like they can't tax bullion bars, only collectible coins


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## kid5022 (Nov 14, 2010)

ddkay said:


> http://www.cra-arc.gc.ca/E/pub/tg/t4037/t4037-e.html
> 
> Edit:
> 
> ...


i think the bullion is taxable for capital gain
the reporting part is the problem, someone people just dont report it


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## fatcat (Nov 11, 2009)

> So it looks like they can't tax bullion bars, only collectible coins


 sorry for being picky but "they" can tax whatever they want 

on a serious note, if you bought bullion at $1000 an ounce and sold it at $2000 an ounce (or any other profit) no matter what form it was in including coins, bars, scrap, whatever .. you are going to be liable for capital gains


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## ddkay (Nov 20, 2010)

Ok thanks for clearing that up guys. So help me out here if I bought a 1oz gold bar at $1300 and sold it at $1500 what are my capital gains?


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## Argonaut (Dec 7, 2010)

Don't declare it.. that's the best part about physical precious metals. Your purchasing power is remaining the same with gold moreso than if you just held cash. You'd be foolish for willingly taxing yourself in that situation.


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## Taxsaver (Jun 7, 2009)

Argonaut said:


> Don't declare it.. that's the best part about physical precious metals. Your purchasing power is remaining the same with gold moreso than if you just held cash. You'd be foolish for willingly taxing yourself in that situation.


Let's say I bought silver at a coin store and Revenue Canada examined their books. They see my name and decide to ask me questions on the whereabouts of my silver. What would I say if they asked me, "Can we see it"?


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## Homerhomer (Oct 18, 2010)

ddkay said:


> Ok thanks for clearing that up guys. So help me out here if I bought a 1oz gold bar at $1300 and sold it at $1500 what are my capital gains?


You would be taxed 50% of $200 at your marginal tax rate.

Your capital gains should be declared, but if you don't the odds of being cought is minimal.


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## Argonaut (Dec 7, 2010)

Taxsaver said:


> Let's say I bought silver at a coin store and Revenue Canada examined their books. They see my name and decide to ask me questions on the whereabouts of my silver. What would I say if they asked me, "Can we see it"?


I'm not a lawyer, but I wouldn't think a business would be required to divulge customer information to the government. If I had a business I certainly wouldn't. And the business might not even have enough or any information on you anyway.

Roosevelt made it illegal for US citizens to own gold back in the 30's. It was basically unenforceable. As far as I'm concerned my physical gold is not the government's business. Part of its power is protecting against government mismanagement and what they do with the fiat currency that they expect us to have faith in.


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## Homerhomer (Oct 18, 2010)

Argonaut said:


> I'm not a lawyer, but I wouldn't think a business would be required to divulge customer information to the government. If I had a business I certainly wouldn't. .


Yes you would, and you wouldn't have any choice;-)


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## Taxsaver (Jun 7, 2009)

Homerhomer said:


> Yes you would, and you wouldn't have any choice;-)


I hope we don't have CRA people here on this board.


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## dcaron (Jul 23, 2009)

*Silver Investors: What Goes Up, Must Come Down…Eventually*

http://etfdailynews.com/blog/2011/0..._campaign=Feed:+EtfDailyNews+(ETF+DAILY+NEWS)


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## dogcom (May 23, 2009)

How about this example, it also works on stocks as well.

The Fed prints 10 dollars for every dollar out there and the Dow rises from 10,000 to 100,000 after that you sell for a 10 bagger gain. Wow what a gain but you actually lost money because you have to pay tax on that 90,000 point gain. So your money is still worth the same and now you have to pay tax on it.


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## ddkay (Nov 20, 2010)

What?? You have to pay 90% tax? I read somewhere that the money the fed is printing doesn't have enough velocity for inflation because more credit is being destroyed (defaults) than created, and it's creating even more asset bubbles than last time


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## fatcat (Nov 11, 2009)

> http://etfdailynews.com/blog/2011/04...+DAILY+NEWS)


 this is such an interesting situation

there is no shortage of well respected analysts saying that gold will go to 2750 and silver to 200 etc etc

and yet in silver and less extant to gold we are seeing stratospheric rises, as the article says, silver is going up like the space shuttle

yet, something doesn't feel right, it just is too far too fast

i think we will see a hefty correction but will that be taken up by people waiting for an opening to get in ?

the nytimes has a lead article which implies that qe2 is a failure, if we see another qe3, that may well send metals even higher and the tower will become even more shaky


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## Taxsaver (Jun 7, 2009)

I have enough silver for now. I'm waiting for a good correction to buy more. I can't wait to see the price of silver in December and January! From what I gather, I should wait to see the next Federal Reserve's actions before selling it.


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## Taxsaver (Jun 7, 2009)

BREAKING NEWS: The silver went up by $1 in less than 20 minutes. WOW!

http://www.kitco.com/charts/livesilver.html


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## Sherlock (Apr 18, 2010)

How do yall buy silver? Precious metals funds or something else?


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## Taxsaver (Jun 7, 2009)

Sherlock said:


> How do yall buy silver? Precious metals funds or something else?


Physical for now. I paid $4 premium on every ounce, so I paid $38 when the price was $34. I played with the buying idea waaay too long. I could have bought at $28. I bought a few thousands dollars, not enough to trouble my sleeping. I keep them in a bank's vault.


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## fatcat (Nov 11, 2009)

i would not buy physical silver unless you want to hold it for a long time and are confident it won't crash and cause you to want to unload ...

25K worth of silver weighs over 30 pounds at current prices

25K worth of gold can be held in one hand


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## Taxsaver (Jun 7, 2009)

fatcat said:


> i would not buy physical silver unless you want to hold it for a long time and are confident it won't crash and cause you to want to unload ...
> 
> 25K worth of silver weighs over 30 pounds at current prices
> 
> 25K worth of gold can be held in one hand


This was my first investment decision -other than choosing an asset location in my RRSP- ever. I learned from it. Next time I'll do a better research.


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## Taxsaver (Jun 7, 2009)

WOW! Silver is now up by $2.00 in just a few hours. It went from $46.60 to $48.50! Look forward to see the reasons for such an increase.


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## ddkay (Nov 20, 2010)

Fed meeting this week. Anybody know how long delivery takes from scotia mocatta? Will they take cash at the main branch in toronto?


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## Taxsaver (Jun 7, 2009)

ddkay said:


> Fed meeting this week. Anybody know how long delivery takes from scotia mocatta? Will they take cash at the main branch in toronto?


I have one coin of Mocatta gold in its plastic case. I may want to sell it to buy silver. I live in Toronto. I accept cash!


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## fatcat (Nov 11, 2009)

> Fed meeting this week. Anybody know how long delivery takes from scotia mocatta? Will they take cash at the main branch in toronto?


 i would try bordergold.com .. you will save money and get much faster delivery


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## BRS9 (Feb 22, 2011)

I think today was the day to open up the short silver position. 

Short-term short position lol


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## Belguy (May 24, 2010)

From the Globe and Mail:

http://www.theglobeandmail.com/glob...ver-is-it-different-this-time/article1998024/

I have a ten per cent portfolio allocation in the RBC Global Precious Metals Fund D which I have held for several years now and it has served me well.

Buy, hold, and prosper.


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## Taxsaver (Jun 7, 2009)

I might go downtown tomorrow to sell my silver. lol. I was strongly thinking about selling last Friday. Is it true that the idea which is the strongest in your mind is often the best?


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## Mike59 (May 22, 2010)

I don't believe commodities or precious metals are designed for buy and hold play, the ups and downs run for too long and you don't want to be trapped in a bear cycle. 

With the right research, one can factor in inflation and currency supply, and market timing can come in handy. 

This is a great opportunity to take some profits, depends how greedy you are


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## zylon (Oct 27, 2010)

"buy, hold and prosper" only works when dividends are paid.

If you buy silver at $5 and it goes to $40 you have not prospered at all unless you sell or exchange it for something else.

Same with a precious metals fund.

stop repeating the same nonesense IYDM


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## andrewf (Mar 1, 2010)

Agreed--commodities are not for buy and hold, except perhaps gold/silver that have very low storage costs as % of total value.


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## BRS9 (Feb 22, 2011)

Belguy said:


> From the Globe and Mail:
> 
> http://www.theglobeandmail.com/glob...ver-is-it-different-this-time/article1998024/
> 
> ...




You mean buy, hold, see gains, SELL, THEN prosper.... 

Precious metals act like real estate and take years (or decades) to come back. Now is the time to sell your gold and silver. 

To watch your holdings run up 100+%, only to fall and fall some more is a fools game. It's all about accumulation and then distribution. And you should be distributing into this strength. 

You have not made a cent until you sell. To see paper gains is not prospering; to experience gains by selling is to prosper IMO.


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## I'm Howard (Oct 13, 2010)

SELL Precious Metals if you believe Countries will stop printing IOU's and eliminate their debt and continue to manage in a fiscally , prudent manner.

Buy and Hold if you believe politicians are liars , they will continue to print to buy votes, that the problems of the U.S, Greece, Ireland etc are solved.

I am a Graduate Economist, but not active in economics, I do hold RBC Precious Metals and BTE.


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## ddkay (Nov 20, 2010)

Alright sorry I've been so quiet. I've been researching places to shop. Here's the a list I put together of a few PM dealers and their prices.

Spot: $1501 USD / ounce

The prices below are for buying (from them to you) a 1 oz gold bar at todays retail price.

Toronto
ScotiaMocatta Main Branch: $1531 ($1512 + $14 bar charge + $5 commish) - Valcambi
Guardian FX: $1526 - Valcambi
Bullion Mart: $1537 - Valcambi

Online
kitco.com: $1526 + $30 shipping + $6.11 insurance - 'recognized' refinery (?)
Border Gold: $1529 + $25-$42 shipping + $4 insurance - 'recognized' refinery (?)
ScotiaMocatta eStore: $1571 ($1501 + $57.53 Admin Fee + $11.04 Shipping + $1.44 HST) - Valcambi

So from what I gather the best deals aren't online but OTC at local dealers at least for small quantities once you count in the cost of shipping.

As a sidenote, maybe someone can dispel this myth? Scotia informed me they do not to resell used bullion (bullion sold to them), but instead ship said used bullion back to the refiner to melt it down and create new bullion lol. Seems like a huge waste of $$ to me.


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## webber22 (Mar 6, 2011)

What about PST in Ontario for gold bullion sales ?


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## ddkay (Nov 20, 2010)

I read somewhere that Ontario charges PST unlike most other provinces, but when I got my quote from the ScotiaMocatta eStore they only seem to charge 13% (GST+PST) on shipping ($1.44 on $11.04). So I think there's no PST at all if you buy it over the counter.


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## fatcat (Nov 11, 2009)

i am getting $1497 for a 1-oz gold maple from bordergold as of 4:23 PDT (though you always need to confirm a price on the phone which will be up to the minute)

i personally would not buy anything other than maples or eagles or other gold coins, i would not buy bullion, i don't think it's worth the savings, though in the case you cite, you are paying more for gold bullion which makes no sense

in bc i paid no tax on buying maples, just shipping


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## Taxsaver (Jun 7, 2009)

ddkay said:


> I read somewhere that Ontario charges PST unlike most other provinces, but when I got my quote from the ScotiaMocatta eStore they only seem to charge 13% (GST+PST) on shipping ($1.44 on $11.04). So I think there's no PST at all if you buy it over the counter.


Why does Scotia charge taxes, but none was charged when I bought in a Toronto coin store?

EDIT: Oh, you're saying HST on shipping. Sorry.

From their website:

http://www.scotiamocatta.com/products/faq.htm#Do_I_have_to_sales_tax?

Precious metals are exempt from GST / HST.

A precious metal is defined as a bar, ingot, coin or wafer of gold, silver or platinum, refined to a minimum purity of 99.50% in the case of gold and platinum, and 99.9% in the case of silver. 

Gold, silver and platinum products are exempt from HST/GST. Palladium products are subject to HST/GST. 

Provincial sales tax is applicable in certain provinces. Contact your Scotiabank branch for details. Sales tax is not payable on certificates.

============================

Here you will find the provinces where you WILL pay provincial taxes. Ontario does not have a distinct PST since it is included in the HST.

http://en.wikipedia.org/wiki/Sales_taxes_in_Canada


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## ddkay (Nov 20, 2010)

The coins have way higher premiums so I'm not sure they would be worth it.

I'm looking through http://www.mint.ca/store/buy/silver_coins-cat120006

Surprisingly, when spot was over $25 this February, The Canadian Mint was selling 200k of 1oz 99.999 fine silver coins for $20 (item # 114366 on the webstore). They were limited to 3 per household. Unfortunately all sold out. Really would have been nice to get one.

1oz 2010 Maple Leafs are selling for $79.85. Huge premium.. and also sold out.


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## ddkay (Nov 20, 2010)

Taxsaver said:


> Why does Scotia charge taxes, but none was charged when I bought in a Toronto coin store?


I said the eStore shows tax on $11.04 shipping, not the metals themselves


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## Taxsaver (Jun 7, 2009)

ddkay said:


> I said the eStore shows tax on $11.04 shipping, not the metals themselves


I edited my original post to state that I missed the point they charge only taxes on the shipping. I think I need some rest. 

Go Canadiens, go!! 1-0 for Le Canadien!!


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## webber22 (Mar 6, 2011)

I went to the Canadian Mint website and found that they only made $49 million in profit in the latest report with $2 billion in sales. Another mismanaged government crown corp. The Royal Bank has a petty cash fund bigger than that


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## ddkay (Nov 20, 2010)

Lol, JPMorgan Chase sells credit card called Slate, 0% APR and balance transfers for the first 15 months if you have "good credit", and 0% interest rate for the first 6 months if you have "average credit". I wonder how many Americans are using products like these to keep up with mortgage payments.

Edit: Wow. Wow!! I went to creditcards.ca and saw that MBNA sells a similar product to Canadians, APR of 17.99% but balance transfer of 0% for 15 months.


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## ddkay (Nov 20, 2010)

Just bought my first 1kg bar of silver... I was hoping to accumulate but Bernanke's speech this afternoon made more pullbacks less probable. I have a little in insurance policy for now I guess.


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## Taxsaver (Jun 7, 2009)

Silver price is exploding. It went from US $45 at 11AM to US $48 at 3:30PM. 

Tomorrow is Friday, so it might charge through $50 at the close in the evening. Thousands and thousand of people across the world, in so many different languages are screaming: "Thanks, Ben!". "Merci Ben!".


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## ddkay (Nov 20, 2010)

Tomorrow is Thursday. Just hope we never get another 'Silver Thursday'.


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## Taxsaver (Jun 7, 2009)

ddkay said:


> Tomorrow is Thursday. Just hope we never get another 'Silver Thursday'.


Ah, yeah.


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## Argonaut (Dec 7, 2010)

The gold:silver ratio is hitting a generational low. How long can this continue?


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## el oro (Jun 16, 2009)

It should touch at least 20 before super cycle is over. It's only in the last 200 yrs that gold:silver took off. For centuries before that the historical norm was 15-20. It's already hit 20 or below 3 times in the past hundred years. 

Capital is flowing into gold and silver at a similar rate these days and since there is more gold out there (dollar-wise) silver will outperform %-wise.

... or so the silver bugs say.


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## Taxsaver (Jun 7, 2009)

$1600 bug, I hope everything turns out good for you. I am ready to sell my silver very soon. As it stands right now, I made a profit of $700 in 60 days on an investment of $2660. That will pay the crown the dentist is going to install next week plus a new matress. I know prices can keep going north for a long time, but I would like to exit now with a satisfying profit.


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## Argonaut (Dec 7, 2010)

Go for it Taxsaver, you can't make a profit if you don't take it! I've heard the miners say they will start hedging prices at $50. That could be the ceiling for the silver run. But what do I know, I sold out at $30. Got in at $17 at least.


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## Taxsaver (Jun 7, 2009)

I've just called the coin store telling them I'm ready to sell them all I have. They're supposed to call me back. Hopefully, silver price won't crash by $3 by the time they call me. I don't think so.

When I originally bought the coins at that store in Toronto, the guy told me he would buy spot plus $2 on silver. I called a few weeks later, then it was not $2 anymore, but $1.


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## the-royal-mail (Dec 11, 2009)

Hi taxsaver, I believe Karen (?) recently started a thread about cashing in silver coins. Lots of replies in that thread, see if you can find it before taking your silver in for cashing.


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## Taxsaver (Jun 7, 2009)

I would be afraid to sell on Ebay, mostly of chargebacks (people who call their credit card company saying they never authorized the charge), or people who guarantee they will send you a cheque. You wait week after week for a cheque that never arrives, and you're stuck with your stuff.


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## the-royal-mail (Dec 11, 2009)

I sell on ebay sometimes. Paypal is the defacto payment method. I do accept cheques from friends but generally try and steer buyers to paypal. Yes, they can still do chargebacks, but I don't think anyone is suggesting you use ebay?


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## BRS9 (Feb 22, 2011)

Taxsaver said:


> $1600 bug, I hope everything turns out good for you. I am ready to sell my silver very soon. As it stands right now, I made a profit of $700 in 60 days on an investment of $2660. That will pay the crown the dentist is going to install next week plus a new matress. I know prices can keep going north for a long time, but I would like to exit now with a satisfying profit.



That's the right attitude. When you see a healthy profit - take it. 

Missing out on a little bit more profit is a hell of a lot better than holding and watching it come back to your cost... or below your cost for that matter


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## Taxsaver (Jun 7, 2009)

the-royal-mail said:


> I sell on ebay sometimes. Paypal is the defacto payment method. I do accept cheques from friends but generally try and steer buyers to paypal. Yes, they can still do chargebacks, but I don't think anyone is suggesting you use ebay?


Nobody suggested Ebay to me. 

If anybody wants to buy my 50 oz of American Eagles, 20 oz of Canadian Maple Leafs or one oz of Scotia gold coin, you can contact me. I would sell the silver one dollar over spot, and the gold coin $1500.


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## Taxsaver (Jun 7, 2009)

BRS9 said:


> That's the right attitude. When you see a healthy profit - take it.
> 
> Missing out on a little bit more profit is a hell of a lot better than holding and watching it come back to your cost... or below your cost for that matter


I see what you mean. All that experience was wonderful. If I buy again, it will not be physical unless there is no premium, like in the case of junk silver, if junk silver is a good idea.


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## james4beach (Nov 15, 2012)

Silver is not at an all time high, but it has a bullish pattern at the moment (as with all commodities).

Reddit speculators have started pumping silver recently. I am curious to see if they can move such a huge market.


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## jargey3000 (Jan 25, 2011)

james4beach said:


> Silver is not at an all time high, but it has a bullish pattern at the moment (as with all commodities).
> 
> Reddit speculators have started pumping silver recently. I am curious to see if they can move such a huge market.


what would be a good way to buy into this 'pump', if it does start to show some momentum?


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## james4beach (Nov 15, 2012)

jargey3000 said:


> what would be a good way to buy into this 'pump', if it does start to show some momentum?


You can buy silver using the US-traded "SLV" ETF. In the Canadian market, you can buy shares of the Royal Canadian Mint's fund, MNS. Silver is currently rallying, overnight. MNS closed on Friday at $20.73 but it's going to be a lot higher when it opens tomorrow.

Beware, silver is extremely volatile even in normal circumstances and if it catches a speculative fever, that's going to get even crazier.

I have no position in silver. I invest in gold, which is more stable and less prone to speculative movements.


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## newfoundlander61 (Feb 6, 2011)

Maybe FR - First Majestic Silver Corp. Just a comment I personally will not be chaning my investment style, too risky for my blood


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## m3s (Apr 3, 2010)

james4beach said:


> You can buy silver using the US-traded "SLV" ETF. In the Canadian market, you can buy shares of the Royal Canadian Mint's fund, MNS. Silver is currently rallying, overnight. MNS closed on Friday at $20.73 but it's going to be a lot higher when it opens tomorrow.


The redditors are saying physical silver like PSLV is better than paper silver like SLV, although they recommend SLV for options. Interestingly PSLV trades in CAD on the TSX and is based in Canada? Also seems like the major silver miners are also based in Canada

I was trying to make sense of what's going on last night. Lots of brand new reddit accounts posting pictures of hoards of physical silver and reports that all the physical silver stores are overwhelmed. Random FB friends who never show interest in investing now going "all in on silver"

Lots of excited videos on youtube of people who say they've been waiting for this since the 2008 financial crisis. At the same time lots of crypto exchanges are being overwhelmed with new accounts and deposits. Seems to be lots of fiat slushing around


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## james4beach (Nov 15, 2012)

m3s said:


> Lots of excited videos on youtube of people who say they've been waiting for this since the 2008 financial crisis. At the same time lots of crypto exchanges are being overwhelmed with new accounts and deposits. Seems to be lots of fiat slushing around


I guess the Federal Reserve's wish has come true. I'd say another factor, though, is the high level of greed. And no fear.

Probably sprinkle in a bit of craziness and boredom from being locked up indoors.

A very interesting combination.


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## nobleea (Oct 11, 2013)

newfoundlander61 said:


> Maybe FR - First Majestic Silver Corp. Just a comment I personally will not be chaning my investment style, too risky for my blood


I used to own FR, back when it was 1.50-2.50. Looks like I should have kept it!


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## sags (May 15, 2010)

Reported on CNBC that people are buying physical silver. The companies that sell silver coins, bars etc were over run with orders.


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## m3s (Apr 3, 2010)

sags said:


> Reported on CNBC that people are buying physical silver. The companies that sell silver coins, bars etc were over run with orders.


Run over with orders or just stopped selling it? If I heard what I was selling was about to go up in value I'd probably stop selling it too


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## Retired Peasant (Apr 22, 2013)

Interesting. If you go to the wallstreetbets subreddit, you'll see they aren't pumping silver - quite the opposite. It appears to be a ploy by others.

__
https://www.reddit.com/r/wallstreetbets/comments/la3ddb
https://www.reddit.com/r/wallstreetbets/comments/la1xhf/guess_who_owns_tonnes_of_slv_options


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## Tostig (Nov 18, 2020)

m3s said:


> The redditors are saying physical silver like PSLV is better than paper silver like SLV, although they recommend SLV for options. Interestingly PSLV trades in CAD on the TSX and is based in Canada? Also seems like the major silver miners are also based in Canada
> ...


What's the difference between PSLV and SLV? I have SVR-C.TO since May 2020. Aren't they all paper certificates stating that you own a certain amount of silver that's locked up in the trustee's vault? If everybody had those certificates in their hands, they would probably barter them like money without having to carry the actual coins.

Does PSLV have a time limit before all your silver gets delivered to your door?


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## james4beach (Nov 15, 2012)

I like the technical picture for silver, and bought some MNS today ... physical equivalent silver through The Mint.

This is part of my asset allocation. I'm squeezing it in within my 20% gold weight.


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## hfp75 (Mar 15, 2018)

So my 25% for gold has been 22% gold and 3% silver for a while now.

I am in the process of changing it to 20% gold, 3% silver & 2% bitcoin.

Dont need to do this over night but this is my new target.


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