Reddit's silver "apes" now targeting silver, opportunity or fool's gold?

[QuarterMillionMan]

Just placed an order for six 10 oz bullion bars ($267.50) each for a total of $1605 w/free shipping and no taxes. In California no taxes are added for ordering $1500 or more (each state has its own threshold amounts so do you own due diligence for avoiding taxes in your own state).

[QuarterMillionMan]

[disneysteve]

Just placed an order for six 10 oz bullion bars ($267.50) each for a total of $1605

What percentage of your portfolio do you hold in precious metals?

[QuarterMillionMan]

My net worth is about $850,000, with about $85,000 in precious metals, so 10%.

[scfr]

Hmmm . . . Is this a good time to sell some of that extra sterling silver flatware?

[QuarterMillionMan]

I didn't realize the six 10 oz bullion bars that I ordered but not received yet will be this big (I've never owned 10 oz bars). Recently, I got my first 1 kilo which is 2.2 lbs. or 1 kilo = 35 troy ounces. This order of six 10 oz bullion bars will be just shy of 2 kilos by just one 10 oz bar.

[crazyliblady]

I didn't realize the six 10 oz bullion bars that I ordered but not received yet will be this big (I've never owned 10 oz bars). Recently, I got my first 1 kilo which is 2.2 lbs. or 1 kilo = 35 troy ounces. This order of six 10 oz bullion bars will be just shy of 2 kilos by just one 10 oz bar.

How do you buy gold? After you buy it, do they ship it to you?

[QuarterMillionMan]

Yes, they ship it.

[QuarterMillionMan]

The camera angle is not capturing the full scale of his gold in the pic but it is impressive nonetheless.

[james.hendrickson]

man...thats a lot of silver bars.

[QuarterMillionMan]

A general rule of thumb is $1 face value of 90% silver is worth $23 (but this must be at the wholesale or dealer level). Buyers must pay a nuch higher premium. For example, I've been buying 1/2 dollar coins at $12 to $14 per coin. This general rule of thumb though doesn't apply to $1 Morgans or other $1 coins because those coins costs about $39 each. Ever since James mentioned buying Mercury dimes, I've been buying 90% silver coins myself (thanks James for waking me up to 90% silver). I used to only buy .999 fine silver.

[QuarterMillionMan]

Here's a good illustration. His best to worst is $1, 1/2 dollar, dimes, quarters. He says dimes are better than quarters because it is more fractional and easier to barter, if needed. I need to get some dimes too.

[QuarterMillionMan]

Just placed this order for Mercury dimes, good price.

[QuarterMillionMan]

Got my 10 oz bars today. The process takes quite long. Ordered on 6/4/23. Paid by bank electronically. Takes 1 week for the dealer to confirm the order. Another week for dealer to receive payment. And lastly the 3rd week to ship. But I'm satisfied. Each individually wrapped in vacuum plastic.

[QuarterMillionMan]

I will be buying more 90% silver since prices came down. I bought 2 rolls of Mercury dimes with full dates for $237 last month. This month it is now $216 so I'll make another purchase. And I'll get some 90% quarters with full dates at $205. Good prices.