APMEX Silver Maple Leaf sale

[Pat McCotter]

APMEX is having a Labor Day sale on Silver Maple Leafs.
$1.99 over spot.

Shipping is $9.95-$24.95 depending on quantity.

Just thought I'd let you know.

[Mike Barskey]

Apparently, buying 1, 15, 100, or 501 costs $15.70 each. So no quantity discount, I guess. So no reason to combine orders with each other. Thanks for the info, Pat.

[William]

Might be worth combining orders to save on shipping.

[Mike Barskey]

Good point. I'm interested. Anyone else? PM me if you want to order together.

[William]

I've been thinking about some junk silver but they seem a little high on the walking liberty coins.

[margomaps]

That sale is over...but silver has dropped about 5% today, and the current price of the Silver Maples is closing in on what it was during the sale.  With today's losses the price of silver is nearing a 1 year low.  Bad news (perhaps) to those who got the silver bug and bought a lot over the last year during record or near-record prices.  But great news (hopefully) for those who are continually buying silver and holding it for the long term.

[K. Darien Freeheart]

Low silver prices make me happy. BUY!

[margomaps]

Low silver prices make me happy. BUY!

And there are craaaaaazy-low silver prices right now.  This morning silver dropped another 33 cents (at the time of this post).  Spot price is $11.73 at the moment.  That's about 35% less than the price was one month ago.

Either the price run-up over the last year was unwarranted by market conditions, or the price-fall we're seeing now is unwarranted.  I suspect a bit of both may help explain the huge swing.  If you have the means to buy silver right now, you might be kicking yourself really hard later if you don't do it.

[margomaps]

Also: those Canadian Silver Maples are now going for $14.99/oz.  That beats the price when they were on sale a week ago by around $1/oz.

[Brandon]

Silver's down to 10.99 right now, and bullion direct has Maples for 13.94. Right now every free cent I have is going into silver.

[John Edward Mercier]

Don't do it. Deflationary depression coming to a wallet near you.

[penguins4me]

I'm beginning to understand how government meddling in the market first confuses then destroys honest businessfolk.

If the gooberment didn't have a central bank and "regulatory agencies" to allow it to meddle with in the first place, it isn't likely we'd have had a real estate bubble in the first place, let alone have the fallout from its popping.

If the gooberment didn't forcibly take control of failed institutions and fill them with inflated fiat currency, the bad actors would likely already be bankrupt and the markets/economy would be on their way back to health, rather than approaching death's door.

If the gooberment didn't take an additional five trillion dollars' worth of crap onto its Treasury books (which, IIRC, it isn't even allowed to do under the Constitution), it would be fairly certain that a deflationary depression at this juncture is the likely destination for the markets. Since they did, who the heck knows if they'll finally take their lumps and suffer through what'll probably be Great Depression II, or if they'll fail to learn from history and hyperinflate (moreso than the 10-15% they're already ramping up this year).

Grr.

I still want to buy more silver, but I will probably wait a while longer.

[John Edward Mercier]

All currency is fiat... Gresham's Law applies.
But the housing boom that caused this problem, and what is coming... is a matter of demographics.
Can't be easily escaped.

[penguins4me]

"Fiat currency" in that more can be made at the whim of those that control it, versus a commodity which requires actual work to produce, etc.

I'm hearing talk on NPR of a *second* "stimulus bill" - and the US can barely service its existing debt as-is! In other words, the US government needs to stop spending since it has essentially no currency left. If it does not stop spending, that means those in power will have decided to print money, and at the rate they're going, that pretty much guarantees hyperinflation.

"Spending" includes doing absolutely stupid things such as officially placing Fannie/Freddie "assets" on the Treasury books, along with Bear Sterns and maybe Lehman (or the next "too big to fail" failure).

[margomaps]

And there are craaaaaazy-low silver prices right now.  This morning silver dropped another 33 cents (at the time of this post).  Spot price is $11.73 at the moment.  That's about 35% less than the price was one month ago.

Wow.  Another day, another brutal decline.  Silver is down $0.62 today, more than a dollar below the spot price I was looking at before the end of the day yesterday.  Current price is a 2-year low.