LCS Report

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buzlightening
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LCS thread very much appreciated.

I have some funds to be paid out beginning Feb 2015 which I've dedicated to real money.  Looks like there won't be any physical to be had, when the frns are freed up.  I specifically will get whatever 90% constitutional money left on the table if any at any price come Feb.  Lucky for me I had 15 great months of stacking silver eagles between 15 & 23 dollars long ago with a 401k cashed in.  Even then, (Jan '08 to May '09), if I wanted over 10K cash from my bankster account, the questions were flying.  Between marriages of two children, cash purchases of cars, and other sundry reasons given for withdrawals the 401k money went to great family causes and a nice stack of US MINT GRADE BULLION COINS.  The reason for seeking out some more minor silver increments in former constitutional dimes and quarters is what 90% I did purchase years ago, is in silver morgan dollars(Back then I purchased several hundred at 12 felon yellen bux a piece).  Even morgan silver dollars will be too big of barter piece when the US public wakes up too late, for the real value of having physical gold and silver in hand. 

I still have my many 1000's of .22 rounds purchased for 8.99 & 9.99 for 550 round bonus boxes.  I'd read every american can put their hands on a .22 and .22 rounds for barter will be like money in an econophile blowup I see coming in an augenblick.  Blink of an eye!

Still, with all the prepper stuff in place one person will never get it completely right.  This is why I see birds of a feather flocking together and uniting to stave off the criminal government and banksters who want every last penny of wealth bled from the public.  Certain we'll be discussing more forum great topics as the epic silver shortage, likely face to face at some point with many of us.  It's certain as we'll have to unite to save our republic from the crooks.   

silver66
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@erewenguy

I am with you. If I am making a buy for as many ounces as possible I buy 10 or 100 Oz bars from sunshine or other mints. I have bought some raw 100 oz slabs, they are ugly but cheap.If I am in the mood for a coin of beauty I buy from the Perth or Canadian mints. Example at the beginning of the year(of the Horse) I was buying some copper rounds with various designs on them that caught my eye (don't tread on me ,etc). The on line firm had Perth mint year of the horse 1 once silver coins and another mints, year of the Horse 1 oz silve coins. I bought some of both. You would have thought from the marketing material that they were the same quality. When I received my package in good order, I thought maybe I got a gag gift. The difference in quality between the Perth and the other mint was staggering. Not mad, but learned my lesson.

The silver shield coins I buy are very nice quality and I don't believe they are from Perth or Canada.

I have bought from First Majestic directly over the years.They have some beautiful 10 oz coins with Aztec design on them. You should look at them, only after you have looked at Turds suppliers, but I don't think you can get their coin other than through them and they don't charge much over spot, at least last time I bought from them. Which has been about a year

Silver66

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boomer sooner
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LCS in Norman, Ok.  Not much

LCS in Norman, Ok.  Not much bullion inventory, gold or silver.  Usual Numi stuff.

Saturday I stopped in for my weekly chat, but didn't purchase.

Eagles +$5 (4 tubes inventory, sold 2 tubes while I was there, MB on order)

90%  $15.25 ($15 dimes, $25 quarters & little else)

Peace Dollars  $22 (maybe 10)

Morgan Dollars  1900+ $22,  1899- $25-27 (15-20 total)

1/4 oz gold something from 18?? vf, did not ask

They usually have some gold (which I pickup odd stuff at spot or less than +5%),  but NADA, dry!

I did pick up some 1/10 AU eagles in Edmond the other day $133 ea. and a few Canadian Wildlife, misc for $20.

My mind has changed on silver, in quantity, on what to purchase.  I was concerned a few years ago that I might need American recognizable stuff for trade, but I have now changed to bulk.

Here is why

100 oz/generics x 17.50 (spot + 1.25)=$1750

100 oz/generics x 50= $5,000 no premium

100 oz/eagles x 20 (spot + 3.75)=$2000

100 oz/eagles x 50 +($5 premium)=$5,500

Now if I take the extra $250 ($2000-1750) from initial spread and apply to generics, I get an additional 14.29 oz of metal per 100 oz of eagles.

14.29 x 50=$714.50

So $2000 today equals in future (assuming eagle premium increases a little)

114.29 oz x $50 = $5,714.50 in generic value

100 oz x $55 (50+5)= $5,500 in eagle value

Not much, but on 1,000 oz means $2,145.00, and when using this to trade into gold (that is my ultimate goal) at a GSR less than 40-45, means more oz of AU!

*Extra scuba tanks not included

benny_bomb_boom
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@ dr J

this thread is much appreciated ;D takes me back to the days of crazy silver price and working the afternoons away at the old salt mine.

visited my old shop on sat. and it seems not much has changed. out of ASE taking delivery orders @ +4 out of generic rounds w a 100 oz min order at +2.  they said about 200 face in %90. I went through the + peacer bucket and was able to pick up and AU '35 peace for 40 bucks and 8 '64 unc jfk's at $7 a pop. dealed them up for a cool benny buck. lucky lucky us.

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arch stanton
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pre '65 dime as 10% of a Ag dollar

Just to keep things straight, there are .0715 Troy OZ in a pre 65 dime.  There are  .7736 troy OZ in an US silver dollar.  While a 90% dime is 10% of two 90% half dollars it is not 10% of a silver dollar.  FWIW I love 90% and strictly accumulated only 90% early on, and like many of you Kennedys were the best bang for the buck as there is almost no wear on any of them.  They do have a drawback, however since they are indistinguishable between 40% and 90% without looking at each date.  I have stuck to Franklins since.  Ugly as shit but usually in good shape (not slicks like most walking libs) and readily identifiable.  As to the mini rant above, the fixed price by the US gov of Ag was $1.29 until they let it free market in the '60s. Divide 1 by .7736 and you get 1.29.  Why they didn't make dollars consistent with dimes, halves, and quarters has to do with crimes of '73, crosses of gold and other political machinations of the times.

erewenguy
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@arch stanton

Good point on Franklins being easily identifiable as 90% in bulk. Never thought of them that way before.

TomMack
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Franklins are ugly

no argument here. For 90% it takes about 14 dimes to equal 1 ounce. Currently at 13.21 for a face dollar that is a 14% premium over spot premium (1.321*14 =18.49;  18.49/16.20= 1.14.  A 1/10 gold eagle has about a 14% premium.  i think you need all types in your stack 90%, round and bar bullion and gov't issued sovereigns . But as long as your stacking you are on the right track.  IMO

stack on

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DeaconBenjamin
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there are .0715 Troy OZ

Technically, there is .07234 oz. in a silver dime.  LCS use .0715 anticipating some wear.  Half dollars often carry a premium because they generally have less slicks than dimes or quarters.

arch stanton
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@Deacon

I stand corrected.  Teach me to post after 12 beers.

silverwood
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Facts about 90% silver coinage

One thing to keep in mind is the potential tax consequences of 90%. For some reason, that I don't understand, is that selling $1000 face value of 90% or more to a legit dealer will force the dealer to report that transaction. Whereas silver eagles do not have that same restriction and are not required to be reported. 

Spartacus Rex
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@ silverwood Facts about 90% silver Coinage LOL

One would think that such “restriction” / reporting requirements might raise a flag and some suspicious questions in the minds of the sheople. Oh well! You can bet your a** however that the significance of the difference is 100% known and clearly understood by the phederal reserve banksters and their lackeys in the IRS, as well as those who know how to eliminate any presumed / “prima facie” income tax liabilities. Have a nice day. Cheers, S. Rex

buzlightening
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Learn something new every time I come to turdville forums.

Never would have known about the silver content in dimes.  You just assume it's the same all the way around for all constitutional coinage '64 on back.  Thanks for the 90% coin education. Likely haven't been paying much attention to details and looks like I'd better.  Plenty of long poles coming for us rank'n file citizens.  Nice to avoid some. 

After listening to turd over on Dave Janda this morning it occurred to me the g20 in Brisbane was notable.  The financial muscle of China was flexed in the gold and silver arena Friday.  China owns those markets and can blow up the western banksters anytime of the day or night.  Message received loud and clear.  Military muscle with russia showing up in Brisbane with 4 war ships to escort putin to the g20.  What a flex and it's notable the US is now not the dominant financial & military bully on the world block.  Can't see speaking mandarin, cantonese, or russian good for US citizens in the future. 

silverwood
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Hi Spartacus

I have been doing some research on the tax consequences of buying and selling PM coins. So  lets just look at this example to gain some perspective. Today if one were to go to their friendly online coin dealer and sold them a one ounce/ $50 gold eagle and purchased 90% silver coins, based on the quotes I just looked at you would receive $86.80 face value of 90% coins. The current gold/silver ratio is 73.66. So lets pretend after a year or so that this bear markets ends and silver starts to out perform gold and the gold/silver ratio falls back down to it lower end of its 20 year range. So you went to your friendly online coin dealer and sold your $86.80 worth of silver coins and was able to get two one /$50 gold eagles for them what would you think you tax consequence would be for such a transaction?

Spartacus Rex
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@ silverwood

Hi silverwood.

I will do you one better: 

Let's go with the GSR you propose, and take your $86.80 in lawful money silver, and instead of exchanging for Two one ounce gold bullion “eagles”, you instead swapped for Four $10 Eagles

2003-First-Flight-Gold.jpg

or Eight $5 Half Eagles

medal_of_honer_5_raw.jpg

What would you think the tax consequence would be for such a transaction?

Lunch break is over, so have fun with that, I'll check back in later tonight.

Cheers, S. Rex

silverwood
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Tax consequences and my answer is...

So you saying that you are receiving 2 ounces of gold denominated as $40 dollars for $86.80 in silver coins. And I assume that this is what you purchased with those coins after buying them with one $50 gold eagle. Also it was longer than one year for it to qualify for long term capital gain.  IMO, you would have long term capital loss of $10!

So It Goes
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Post Here?

I guess this is the biggest LCS.  US Mint has updated ASE sales for 2014.  The total now stands at 40,393,000.  

http://www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion

I don't know if this has been noted here before.  Must say I miss the old format.  I liked hanging out on Main Street.  I mostly ignored those who trolled, but I learned as much from the community's comments as from the main article.

TomMack
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lurkers hurt

yes..  So it Goes...plenty miss 'main street'....i agree there are too many threads making it hard to follow 'the flow'.  i mainly lurk around the bottom, not really able to contribute to the quality of the thread, so perhaps as a non contributing lurker i don't have much of a leg to stand on while complaining about the changes.  i do however think the threads will consolidate and become easier to follow.

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Pug Nuggets
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I'm not hurt

The new Main Street is here.  Still free. 

benny_bomb_boom
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@pugnugs

i agree ~ no need to stay on topic or have my thoughts out on main for any tom dick or mary to stop by and read. the first few times back were weird but it keeps getting better. i just get to read the stuff i want. i think there are 4 main streeters i read, p4, caliL, drJ and JY.  and post something to them and they do respond in due time...changes have come and more are coming. look past the soupy inside or frontpage to the froth breakin out the back! stack up, surf hard. b33b

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Pittsburgh LCS

Was in Pittsburgh Friday and went to Charles Littman coins as I do every time I get to Pitt. Always have good prices. Sold out of junk, and had just a few Eagles and Maples. Said he sold 1500 ozs Ag I the past week. Also said he's been losing money on AG all year and seemed depressed about the whole state of PMs.

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