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Rookie Silver guy

Joined
Jan 10, 2016
Messages
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#1
Hi all, I just started investing in Silver and I found this site. Looking forward to learning more about it. Two questions that I have.

1) NTR 10oz Silver bars: Are these still good to buy? Elemetal bought NTR last year and wanted to know if that would effect my selling ability.

2) What does it cost to make an ounce of Silver. I googled it and it said $6.69 an ounce back in 2013. does that sound right?
 

Weatherman

In GIM since 2006
Gold Chaser
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Mar 30, 2010
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#2
Hi all, I just started investing in Silver and I found this site. Looking forward to learning more about it. Two questions that I have.

1) NTR 10oz Silver bars: Are these still good to buy? Elemetal bought NTR last year and wanted to know if that would effect my selling ability.

2) What does it cost to make an ounce of Silver. I googled it and it said $6.69 an ounce back in 2013. does that sound right?
Welcome to GIM! This is a great time to build your stack. :2 thumbs up:
I don't have good answers to your questions :don't know:, so I will answer different questions instead.

1) You might want to consider 10 ounce or smaller as alternatives to 100 ounce bars. I have no doubt that 100 ounce bars you would buy from a quality dealer will be OK, but would you be as confident if you were buying from a stranger? That is the question a future buyer would have when you want to sell the bars. Do a web search for 100 oz silver fakes, and you will find millions of reasons that buyers would be concerned about 100 oz bars. Smaller bars and coins are more difficult to fake, and are easier to sell when the time comes.

2) Part of the problem with finding the cost per ounce to mine silver is that approximately 70% of mined silver is byproduct from base metal mining. The base metal miners treat that byproduct silver as a cost free benefit in their mining process, and they dump the byproduct on the market at any price they can get. Primary silver miners like PAAS may say what their cost per ounce is to produce, but the market will see a much lower cost per ounce by factoring in the "free" byproduct silver. My view is the current economic slowdown will result in less base metal mining, which will then produce less byproduct silver. That reduction in the supply of silver will then trigger the next bull market in silver and gold. You can read more about that viewpoint in the link below.

When Will the Price of Silver Explode?
 
Joined
Jan 10, 2016
Messages
204
Likes
177
#3
Welcome to GIM! This is a great time to build your stack. :2 thumbs up:
I don't have good answers to your questions :don't know:, so I will answer different questions instead.

1) You might want to consider 10 ounce or smaller as alternatives to 100 ounce bars. I have no doubt that 100 ounce bars you would buy from a quality dealer will be OK, but would you be as confident if you were buying from a stranger? That is the question a future buyer would have when you want to sell the bars. Do a web search for 100 oz silver fakes, and you will find millions of reasons that buyers would be concerned about 100 oz bars. Smaller bars and coins are more difficult to fake, and are easier to sell when the time comes.

2) Part of the problem with finding the cost per ounce to mine silver is that approximately 70% of mined silver is byproduct from base metal mining. The base metal miners treat that byproduct silver as a cost free benefit in their mining process, and they dump the byproduct on the market at any price they can get. Primary silver miners like PAAS may say what their cost per ounce is to produce, but the market will see a much lower cost per ounce by factoring in the "free" byproduct silver. My view is the current economic slowdown will result in less base metal mining, which will then produce less byproduct silver. That reduction in the supply of silver will then trigger the next bull market in silver and gold. You can read more about that viewpoint in the link below.

When Will the Price of Silver Explode?
Great Article. I know the mining companies stocks are in the tank so that probably means silver may take awhile to make solid gains. That's an interesting relationship that silver has to copper. Thanks for the welcome Weatherman.