Bought some today

[fistfulladirt]

Went by a big swap meet indoors at the fairgrounds on Sat...plain Morgans @ $28 ea. Everything overpriced, no bargains of course.

Swung by the LCS, out of stock 90% US silver, but he had 2015 ASE's $6 over spot.

 

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[Marchas45]

Went by a big swap meet indoors at the fairgrounds on Sat...plain Morgans @ $28 ea. Everything overpriced, no bargains of course.

Swung by the LCS, out of stock 90% US silver, but he had 2015 ASE's $6 over spot.

Whoa I'm glad I don't use the LCS here as they charge taxes here in Maine and that doesn't include the premiums it drives me crazy. Heck I just bought 5 10oz bars at .57 cents over spot shipped on Friday. Keep Stacking
P.S. I believe we will have another big chance next week for an even lower price.

 

[billjustbill]

Bill I found out by using the Verifier which I have, great tool. You can see it in the video above. They are actually Silver but not the full content for bullion. More like 90% Lol, Charlie

I bought 10 of the Buffalos from APMEX. After watching your video and reading your response to my question, I wrote APMEX. Within two days, they sent me a return authorization email.... So, I guess they already knew something....

I have some super strong Neodinium magnets about the size and thickness of a domino. Each one in this batch of 10 rounds came in clear plastic pockets which are stamped "AMPEX". When the magnet comes within 3/4" of the Buffalo coin, it starts drawing to it... Scary, Huh?

What's the date on the bad ones you found?

Thanks for your information,

Bill

 

[jim4silver]

Bill,

Why do you guys think I have been harping so much on getting gov made bullion? Yes they have fakes of that but they look like crap and if you get current year from a real coin shop they won't be fake.

From what I remember, Charlie's buffaloes were from Silvertowne and still showed to be 90% or higher, but less than 999. If yours are sticking to the magnet they are probably completely fake. Real silver when slid down a magnet properly will have some very very minor drag to it compared to a non silver, but it should not be sticking to or "attracted" to a magnet. I use a powerful magnet sometimes as a preliminary test and have never seen a real silver, even 90% stick to it in any way.

What do the Apmex buffaloes weigh?

Just my opinion.

Jim

 

[Marchas45]

My Buffalo's are 2015 but they are real silver one of my other forum members had an outside analysis done and they came back ok but had a film on the face of them that where causing bad readings. Like Jim says if they are sticking to a magnet they are definitely fake. Keep Stacking

 

[billjustbill]

Bill,

Why do you guys think I have been harping so much on getting gov made bullion? Yes they have fakes of that but they look like crap and if you get current year from a real coin shop they won't be fake.

From what I remember, Charlie's buffaloes were from Silvertowne and still showed to be 90% or higher, but less than 999. If yours are sticking to the magnet they are probably completely fake. Real silver when slid down a magnet properly will have some very very minor drag to it compared to a non silver, but it should not be sticking to or "attracted" to a magnet. I use a powerful magnet sometimes as a preliminary test and have never seen a real silver, even 90% stick to it in any way.

What do the Apmex buffaloes weigh?

Just my opinion.

Jim

Jim,

I had these at home to get ready for packing and shipping this week, so I weighed one. It weighs at 31.1 grams. These are the Buffalos that do not have the new laser-made hologram.

Now, for the attraction issue: The date I bought these was last September of 2014, following some garage sale collecting of Brass/Copper and selling it at the local scrap metal yard. (I more than doubled my money...and turned those dollars into twice the silver.) The 10 rounds each came in a AMPEX clear plastic envelope.

So, memory is part of the problem, the "attraction" I saw is now seen as something I see and feel that's different when I get down to the nitty-gritty of it. The 2"x2" plastic envelope has a double ply clear plastic that is folded in the center. I grabbed the empty flap and let the silver round hang straight down. As I passed the magnet in front of it, the coin moved. If I move the magnet up close to the coin, it seems that is a slight attraction, but not anything close to a quick jerk and clear "Chink" sound if it was a steel washer.

If I move the magnet up and down, the clear envelope and round will move, the faster I move it the more restriction I feel. So, it's an induction feel rather than a magnetic feel... The magnet is so strong, I can move the magnet up and down up to 3/4" away from the round and it will barely move Buffalo, but so does the 2015 ASE coin I kept out.

So, I can't tell you if these Buffalos are true .999....they magnetically behave as the Eagle coin. I may not return these coins, after all. What's your thinking?

Bill

 

[billjustbill]

My Buffalo's are 2015 but they are real silver one of my other forum members had an outside analysis done and they came back ok but had a film on the face of them that where causing bad readings. Like Jim says if they are sticking to a magnet they are definitely fake. Keep Stacking

How do you know what the date of the coin is? Are the 2015's the first to have the hologram etching?

Thanks,
Bill

 

[jim4silver]

Jim,

I had these at home to get ready for packing and shipping this week, so I weighed one. It weighs at 31.1 grams. These are the Buffalos that do not have the new laser-made hologram.

Now, for the attraction issue: The date I bought these was last September of 2014, following some garage sale collecting of Brass/Copper and selling it at the local scrap metal yard. (I more than doubled my money...and turned those dollars into twice the silver.) The 10 rounds each came in a AMPEX clear plastic envelope.

So, memory is part of the problem, the "attraction" I saw is now seen as something I see and feel that's different when I get down to the nitty-gritty of it. The 2"x2" plastic envelope has a double ply clear plastic that is folded in the center. I grabbed the empty flap and let the silver round hang straight down. As I passed the magnet in front of it, the coin moved. If I move the magnet up close to the coin, it seems that is a slight attraction, but not anything close to a quick jerk and clear "Chink" sound if it was a steel washer.

If I move the magnet up and down, the clear envelope and round will move, the faster I move it the more restriction I feel. So, it's an induction feel rather than a magnetic feel... The magnet is so strong, I can move the magnet up and down up to 3/4" away from the round and it will barely move Buffalo, but so does the 2015 ASE coin I kept out.

So, I can't tell you if these Buffalos are true .999....they magnetically behave as the Eagle coin. I may not return these coins, after all. What's your thinking?

Bill

Bill,

If you touch the round to the magnet does it stick to the magnet? That's what I was thinking you meant. Most of the Chinese fakes advertise that they don't stick to a magnet so only the really bad fakes stick to magnets. If you bought from Apmex I doubt they sent fakes they have a good reputation. If you bought them second hand then you never know.

Do your buffalo rounds have the distinctive "ring" if you ping test? When you clank two or three of the same type together there is a sound you should hear that is familiar with real silver coins. If all these "tests" seem to say silver I would keep them.

Jim

 

[Marchas45]

How do you know what the date of the coin is? Are the 2015's the first to have the hologram etching?

Thanks,
Bill

The SilverTowne Buffalos all have dates on them Bill. There are a few makers of 1oz Buffalos but ST are the best looking Buffalos out there. my opinion of course. Lol

 

[Greastart]

Whoa I'm glad I don't use the LCS here as they charge taxes here in Maine and that doesn't include the premiums it drives me crazy. Heck I just bought 5 10oz bars at .57 cents over spot shipped on Friday. Keep Stacking
P.S. I believe we will have another big chance next week for an even lower price.

Trying again. I asked earlier in this thread and only got a snarky answer. No big deal...but I am curious. Where does a newb turn to begin purchasing silver? Prices seem low and I want to wade in.

 

[jim4silver]

Trying again. I asked earlier in this thread and only got a snarky answer. No big deal...but I am curious. Where does a newb turn to begin purchasing silver? Prices seem low and I want to wade in.

Greastart,

If you read the posts here you will see a variety of opinions. The is no right answer to your question per se, other than to buy from a trusted source. My view is that a newb should avoid any of the types of silver that are heavily counterfeited right now. That would mean I am recommending American Silver Eagles, Canadian Silver Maples, etc, and if you buy from a trusted seller and get new coins in tubes most likely you will be getting coins straight from the wholesaler that are not coins some coin store bought off a customer and are being resold.

I have seen fakes at the local coin stores I go to, so you can't really be 100% sure even if you buy from a "trusted source" (at least not where I live). I don't think in my local area the stores would sell fakes intentionally, but some of the store workers are not too sharp and get fooled.

Knowing human nature as I do though I would not be surprised if a store someplace bought a bunch of real looking fakes, realized they were fakes, but turned around and sold them anyway hoping the buyer is a dupe, since the alternative is to take a loss and throw the fakes away.

If you are looking for online stores I would recommend Apmex or JM bullion. Many on the blogs like these stores. If you desire silver bars but lack the ability to verify them on your own, you are going to just have to trust that what you buy is the real thing. Personally I don't like to have to trust on issues like this.

Just my opinion.

Jim

 

[Mackaydon]

Silver now at a 5-year low; I'm still holding out for 'deeper water',like $12, then I'll get on the roller coaster and ride it wherever it goes.
Don......

 

[jim4silver]

Silver now at a 5-year low; I'm still holding out for 'deeper water',like $12, then I'll get on the roller coaster and ride it wherever it goes.
Don......

As much as I would like to buy $12 silver, I hope that price never gets here. It is interesting how the dollar has been making remarkable gains lately yet silver and gold have not been hit "too bad". I would have expected $14 or so silver based on the dollar's current position. Would be great to see gold and silver start gaining again as the dollar rises.

Jim

 

[fistfulladirt]

In the meantime, are miners declaring bankruptcy? Can't find the links too lazy.

 

[jim4silver]

In the meantime, are miners declaring bankruptcy? Can't find the links too lazy.

FFD,

Here are a couple of recent ones. If oil prices stay here or even drop some more that should lower the miners' costs somewhat and might help some keep going longer, especially the smaller ones.


Gold Miner Allied Nevada Files for Chapter 11 Bankruptcy - Bloomberg Business

http://www.wealthdaily.com/articles/what-we-can-learn-from-one-gold-miners-bankruptcy/4961






Jim

 

[Greastart]

Jim,
Thank you for your substantive reply. Gives me an idea where to start.

Regards,
Grease

 

[Beachkid23]

Silver now at a 5-year low; I'm still holding out for 'deeper water',like $12, then I'll get on the roller coaster and ride it wherever it goes. Don......

There will be tears coming out my safe at this price, all that old expensive silver will be sick! But we can add a lot more too! I'm addicted

 

[jim4silver]

Anyone here have the 2014 Australian Saltwater Crocodile silver coin? One of my dealers says he will sell me some at the same price he sells ASE's (normally he charges a buck more) so I am going to get a few today. For some reason I am drawn to the Australian silver coins like the Kooks and such. The finish and designs they use are way nicer than even our fine ASE's in my opinion.


Here is what they look like:

New Australian Saltwater Crocodile Silver Coin

Jim

 

[jim4silver]

There will be tears coming out my safe at this price, all that old expensive silver will be sick! But we can add a lot more too! I'm addicted

I am with you on the addicted part. A while back I was reading something on the signs a person is addicted to something (I think the article was referring to drugs/gambling, etc) and I fit many of the traits with respect to silver/gold. For example:

1. Tolerance to the substance. I used to feel satisfied buying one ounce of silver, now I have to buy more to get the desired effect.

2. Secrecy. I cannot tell my friends and family about my addiction and keep it secret (ok not so much on this one since I talk here).

3. Can't stop. I feel compelled to visit my coin stores each week even if I don't have the money to spend.

4. Withdrawal. When I don't have any extra $$$ to spend and the price drops I have strong cravings to buy more.

5. Obsession with the substance. Self explanatory.

6. Continue to use despite health problems. Doesn't really apply but I keep buying as price drops and pundits call me a bug.


I guess it could be worse? LOL!


Jim

 

[pronghorn]

Trying again. I asked earlier in this thread and only got a snarky answer. No big deal...but I am curious. Where does a newb turn to begin purchasing silver? Prices seem low and I want to wade in.

Provident metals has always treated me right, I would recommend them!

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