In today’s video I read through some of the best comments from my past 3 videos and respond to them LIVE on video for all to hear! We cover topics from tax reporting, supply and demand on Silver Bullion and more, including what you see in the title… I read a comment about a shop that just paid only $20 each for 40 2020 Silver Eagles!
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LCS Buys Silver Eagles for only $20 Each?… Responding to YOUR Silver Comments!
#silverprice #silverstacking #silvereagles
Table of Contents!
0:00 Intro
0:48 Comment #1 – Spot Price Shouldn’t Matters for Silver Coins?
6:59 Comment #2 – Silver Useless During a Recession?
8:35 Comment #3 – Coin Shop Owner buys Silver Eagles for Only $20 Each?
9:49 Comment #4 – No Tax Reporting when Selling Silver Eagles?
11:15 Comment #5 – Bullion Dealers won’t Sell Silver Below a Certain Price Level?
13:50 Comment #6 – Bullion Dealers Running out of Cash to Buy Silver?
16:22 Wrap-Up and Outro!
source
Dealers are crooks.
I think you are spot obout the margin on silver eagles. Ridiculous.
Will the spot price and actual physical silver price separate?
Seeker since the dollar is so strong what do you think about stacking cash? I'm doing that right now at this time however it's not just for a rainy day but it's for a specific future purchase which I won't get into in this post.
Hasta la vista usa. 🤣🤣🤣
Just subscribed to your informative channel Could you do a video specifically on which silver and gold products do and dont have USA irs reportability requirements ( including amount limits whether they be dollar amounts or number of ounces)…
I just lost my job and I’m debating on selling my ungraded V75 silver eagle and V75 medal set. Both are problem free and I’m sure are 70s. I just don’t know if I should keep them because they will be worth a lot later or if they are Gona stay where they are. Can someone help with this decision please. I would really appreciate it. If I don’t sell that I will have to get in the stash. I only have high premium and vintage stuff. Im only selling a tiny bit just for extra money right now. Idk what to do
As of yesterday, July 15, gasoline futures were $3.15. We don't complain about the gasoline 'spot' price, but it's 60% over spot! FWIW!! Experience is when you buy 1,000 oz of silver coins for $30K right now, don't waste your time comparing it to spot. So you are down $10K……ONLY if you sell it for spot.
If that guy has any more 2020 Silver Eagles for $20, I'll buy every one he's got. 🙂
I don't know if what I am about to say is true, but it may be possible that many people are going in to sell their silver, platinum, or gold (jewelry, coins, watches, etc…) because they may need the money at this time. Inflation is quite bad especially in the cities where cost of living is higher. Rent, Mortgage, Auto, Gas, Food, Merchandise, Insurance, Medical, and Bills in general have all gone up in price and credit card usage and debt are at record high levels now. Maybe people are selling their PM's not because they are dumb and selling what they think is a bad investment/trade, but because they need extra money to pay their inflated bills and living expenses. Some of them may even be selling their PM's at pawn shops instead of coin shops because they don't know any better and need quick cash. Just an opinion.
just a thought, I know if you buy silver off the commodity exchange you can buy the paper silver price by a contract then take delivery of the contract of silver once it expires. might have added cost, but I did speak to a commodities broker, and he did tell me you have to have it recertified to put it back on the market. If you use my commit I need (10) 40% ike's 1973
@SilverSeeker Can you Please Respond.. I got a notification saying that I won something Idk It's on Your Old video and it Has a Number I'm concerned is it spam or something… Please let me know ASAP Please I don't know your current Email or I would Email you my friend..
Just like to echo Victor Frankenstein's comments. It's not about making wealth now, it's about storing wealth for the future with funds you do not need now. Do I feel bad about the cost of all the silver I bought last year when I first got serious about stacking? Yes, of course. My dollar cost average is currently $23.58 per ounce. But I buy most of my silver with funds from the sale of far less fungible collectibles (the value of which was also inflated last year)-not "house money." And I have no intention of selling any of my silver. I will leave it all to my kids and then they can sell it if they want (with no capital gains tax!) Meanwhile, I get to enjoy looking at all that beautiful silver.
Algorithm food and a smashed 👍 Button!
Silver and gold is NOT a hedge against inflation. Inflation is at 10% while silver loses 33%
I like to stack and enjoy the collecting aspect of it. I do find the "sky is falling" mentality of most of the comments and channels off base. No one who is alive today has seen a complete collapse of the U.S. economy. Even after the Great Depression the economy roared back with a vengeance.
Silver is not a hedge nor a good savings.every time inflation is mentioned it drops and buying silver at a loss is the complete opposite of what a savings is.silver is nothing more then an investment.and to think your silver will buy something like bread is hilarious for numerous reasons.
Found some 2020 1.5oz silver Canadian Bear coins on sale today at my lcs. Woot
Run and take your silver with you lol.
My friend, you are making way too much sense. Stocks, bonds, most all investments are dropping in value. Not much pushback on that. People blindly contributing to retirement accounts are blindly loosing money. But they don’t see it.
Why can't we buy silver directly from the government at the same price point as dealers?
I would throw away my silver eagles before I would sell them. People who are selling their precious metals now, are foolish.
"They" keep talking about massive inflation, but not for sliver….. huge deflation in sliver brought to you by the bloodsucking powers that be.
Silver eagles $20 where… Buyers waiting
Coin dealers are rip offs you pay 40 for a ASE and then when you want to sell it back they offer 28?? I would never sell my silver to a coin dealer or to a pawn shop they are big rip offs…. I rather sell on eBay or at a flea market to get top dollar for my silver….
It's the sellers responsibility to shop around. If the sellers accepted that 20 price then it is what it is.
Talk about how the game is rigged, and market manipulation…
Do you feel that stacking coins such as Morgans or Peace dollars right now is this volatile market is a safer investment than stacking American Eagles? I don't know if the numismatic value outweighs the value that the physical brings, and would there be less price fluctuations in those coins.
If we all combined and stopped buying for a while, they would lower the premium.
The dealers and LCS are getting money on both sides of the deal. And many are unscrupulous jerks taking advantage.
Paying taxes is unconstitutional and is not law, it’s legislation!
I’m stacking copper tubing, along with wire, pennies and any other scrap I can get my hands for next too nothing or better yet, nothing!
I enjoyed this video very much thank you 👍
Premiums are just a way for dealers to make money selling us precious metals. There is no standard for premiums, people/companies just make up a number based on whatever they want their profits to be.
I have nothing against stacking at this time, but anyone buying Eagles or recommending Eagles might need their head checked. Just think about all those fools who bought eagles at 45$ and above per oz. Yikes.
Thank you Seeker. Always informative. Take care.
My understanding per IRS Code. Gold and Silver Eagles are exempt from a Capital Gains Tax.
Great analogy on replacing higher purchased silver with the new lower market value.
The coinshop paying $20 for ase was Tim from Yankees stacking
If you buy a 100' roll of copper wire for $200 and you use 50' of it, they will not take it back or buy it back, you will have to scrap it and you will get hardly anything for it. But if you go buy a 50' roll of copper wire it will have a premium over the larger roll and cost about $150
Because they go by the foot, and less feet will be more expensive per foot.
So the silver Eagles are probably worth more than what people are charging, even with the high premiums, but don't expect to be able to sell them back at a ratio of what you paid for it. If you figure the price is a paper price of 5000 ounces, and you are buying 1 ounce, you cannot expect to get it for the 5000 oz paper price.
I think the market is quite fair until you try to sell it back, but that goes the same with any tangible item.
You don't buy copper wire as an investment normally, although it will work for one. Same goes with physical Silver, it's not an investment technically, it's wealth preservation. I would not sell my copper wire to a scrap yard, and I would not sell my silver back to a silver dealer.
If you have to, you will get taken to the cleaners. You want to sell it to someone in need or trade it for something you need.
Seeker, please keep emphasizing to these new novice stackers, that selling their coins (bars) as spot tumbles, due to fear of losing more money, is the opposite of what they are suppose to be doing. First, and foremost, Silver & Gold should be purchased with expendable money, not needed for everyday things (food, fuel, homes, etc.). Second, when prices are falling, then it is time to take advantage of the opportunity to add to your stack, and lower your overall cost per ounce. It’s basic economics, but many do not understand this. Please keep up the good work of spreading the news.
So is this a good time to buy silver since it’s the spot is low ? I’m fairly new to all of silver businesses.
LOL! Viewers throwing Yankee Stacker and his buddy Tim at the LCS under the bus. 😂
“There is plenty of American Silver Eagles 🦅 available for sale.” Who the hell is buying them for $11 to $15 over spot price? You gotta be a Moron. On the other hand, if you’re at an LCS, trying to sell some Eagles 🦅, and they’re offering you $2 to $3 over spot, then that LCS is a bunch of scumbags. Eagles 🦅 are routinely sold for $10 to $12 over spot price, so if they’re gonna try to rip off the public (like Rip-Off-Mex), then stay as far away from them as possible.