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Pooling for silver pricing...

Started by Eli, January 11, 2006, 08:47 AM NHFT

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AlanM

Quote from: russellkanning on January 11, 2006, 10:54 PM NHFT
If you accept them at the cafe, then you will always have some flowing through.

I personnally like the idea of accepting silver at the Cafe, but we will have to make a business decision together.

Eli

#16
I, personally, like bars alot.? They will never be mistaken for worthless quarters and half dollars.

Caleb

Sorry ... I accidentally forgot about this topic.

The reason coins are preferable to bars is that bars are more easily tampered with.  Therefore, when you go to sell them, most buyers will require that the bars be assayed, which costs extra money.

Caleb

Eli

The next step is for us to discuss what we want to buy.  I am currently interested in two vendors.  First is the North West Territorial Mint.  They vend a number of products I would be interested in purchasing; silver eagles, canadian maples, and  Pan Am rounds. 

Chris(Dreepa) and I have also been discussing getting custom minted Pheonix dollars, with something like a porcupine or a gadsden flag on the reverse.  We had already considered what the initial investment cost would be and are interested in maximize our investment by ordering at least 1000 rounds every time we purchase custom minted coins. 

After we have established a common interest in one of the four products above, I figure we can discuss how to pool funds for the purchase.

Pat McCotter

Will Phoenix do fractional coins? 1/2, 1/4, 1/10 and 1/20?

Eli

They don't at the moment.  They may in the future.

toowm

I'm in, and my preferences are entirely based on the best deal we can get, including shipping and any other costs.

So what is an expected volume discount? 5% over spot/free shipping?

Eli

That really depends on what we buy.  Pan am rounds are the cheapest. I think the mint will ship for free.  Their current prices are listed.  http://www.nwtmintbullion.com/

At the volume of 1000 oz I think pheonix charges spot ask + .50 minting +3% liscencing.  I am not sure if that is exactly correct, I don't have the notes in front of me.

Eli

Looking back over my exchange with chris, pheonix is planning to do half ounce coins.

Also Phoenix does charge shipping.  I imagine we would ship to some central location, in NH, and pick up from there.

Dreepa

Also if we want to have a logo or design on one half of the coin you have to figure it will be another $.75 per coin.... but how cool would that be?

I also am trying to see if any other mints would do this.

Fluff and Stuff

Quote from: Eli on January 24, 2006, 11:31 AM NHFT
That really depends on what we buy.  Pan am rounds are the cheapest. I think the mint will ship for free.  Their current prices are listed.  http://www.nwtmintbullion.com/

That does seem like a good idea.  I am in if we can get a very good deal like over 1000 rounds by Pan Am.  I don't care if they have a porcupine on them or anything.  i just want the lowest price.  I also need someone in NH or near-by to hold them for me until I can get up there.

toowm

OK, the Pan American prices are listed here: http://www.nwtmintbullion.com/silver_panam.php

We need to order >5000 oz. to get the biggest discount (just under 5%, free shipping), which is almost $50,000FRN.

A $0.75 per coin design is an extra 8%, which is too high for me. If you can find total costs for a designed coin under 5% over spot, I'm interested, but I think it's unlikely unless we get a huge volume.

Fluff and Stuff


AlanM

I'm one of those who will be picking up silver a little at a time, for now. I would like to start with $50 worth and buy more later.

Eli

I think 50k is a little out of reach.  Is there enough interest to get 1000 ounces? Post here or PM me about the # of ounces you would be interested in purchasing, say, within 3 months.