Direct from 1000 oz Futures bars to Coins

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#1 Mon, Dec 12, 2011 - 6:24am
MB
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Spanksville
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Direct from 1000 oz Futures bars to Coins

Has anyone had experience with this interesting idea. Basically you can take delivery of 1000 oz bars of silver from COMEX and have them directed to a mint who will produce you coins for $900 including shipping and then instead of you paying them $900 Cash they will just keep $900 worth of silver in return for converting 1000 oz bars to coins.

https://www.goldenstatemint.com/bullion-round-conversion.html

I would love to hear anyone's experience with this type of service

Edited by: MB on Nov 8, 2014 - 5:08am
Mon, Dec 12, 2011 - 10:49am
tallydynasty
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Tallahassee, FL
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nah. You are going to lose at

nah.

You are going to lose at least 2-3 ounces if not more in the conversion. Rounds are a tad above 1 troy ounce typically.

Just buy quality silver rounds if that's what you are looking for.

Mon, Dec 12, 2011 - 6:54pm (Reply to #2)
MB
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sorry, I am missing the math.

sorry, I am missing the math.

Rounds cost $1.4.

This is rounds for $0.90 over spot.

.50 delta

$500 savings, and price includes shipping. You are saying that it might cost you an extra 3 oz of $90. So lets say you save $400 instead of $500.

Why is it bad to save $400? I know of a few things I can buy with the $400

Mon, Dec 12, 2011 - 9:37pm
pailin
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cheaper

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Wed, Dec 14, 2011 - 11:15am (Reply to #4)
SE
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I think the point should be

I think the point should be to see what is involved in removing silver from COMEX, so that they have NONE to base futures on. Pull the flow of metal from the refinery down through the distribution channels into the coin shops so fast that there's barely enough for legitimate industrial users and no one else.

The metals have to be removed from the financial sector's control, forever.

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