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if only i had the money....

Discussion in 'Members' Lounge' started by pissedoffsol, Jun 5, 2006.

  1. pissedoffsol

    pissedoffsol RETIRED

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    http://cgi.ebay.com/Huge-lot-of-200-Silver...5QQcmdZViewItem

    silver closed friday at $12.34 an ounce.

    morgans are 90% silver, and weigh 26.73 grams.

    1 grams = 0.0352739619 ounce

    26.73 * 0.0352739619 = 0.942873002

    so each morgan weighs 0.942873002 ounces.

    .94 * .90 = 0.846

    so there is .846 ounces of silver per morgan.

    .846 * 200 = 169.2

    169.2 * 12.34 = $2087.928 worth of melt value.

    these fuckers are under melt value. freakin nuts.

    on an average coin, the intrinsic value is at least 150% of melt....

    i'm freakin tempted....
     
  2. 90 accord

    90 accord Chicks dig the box Moderator VIP

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    seems like too much of a pain to make ~100 bucks, that is even if you can sell them at the "list price" for silver
     
  3. pissedoffsol

    pissedoffsol RETIRED

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    thats not list price, thats throw it in a bucket and melt it price.up to abotu $20-22 each, even in the worst condition, this is still a profitable excursion.

    everythign is going nuts...

    http://www.kitco.com/gold.londonfix.html
     
  4. totalburnout

    totalburnout Well-Known Member VIP

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    Less talk, more buying.


    Get on the phone with your dad and have him front you on the money. I've heard you talk about your parents being comfortable and I'm sure they could probably help you out.

    You could return the money within a month and profited on the investment.


    I think it would be stupid for you not to buy. This is like when I see a good deal on anything used, even if I have no use for it, I pick it up and resell it for more.
     
  5. BigJ

    BigJ I'm just about that action Boss. VIP

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    :word:

    Do it. I sell copper out of the back of my work these days.

    I can buy a real of 1/0 gauge for about 1.40/foot from job sites periodically. I turn around and sell it for 2.04/foot an hour later and make well over 300 in profit per roll. The only problem is I get just a small percentage because I'm doing it at work, plus my hourly.

    Metal is where its at man. Buy.
     
  6. SlushboxTeggy

    SlushboxTeggy It's only stupid if it doesn't work VIP

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    Yea my dad is an electrician and does the same with copper. But he never buys it. If they rip it out of a job site, they split it between a few people and go sell it. Funny that this comes up because we were just talking about it the other day. Prices are sky rocketting on most metal. Stuff they use to just throw is now is bringing in some nice coin.
     
  7. reckedracing

    reckedracing TTIWWOP VIP

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    My old man was a commercial roofer for a long time
    he used to bring home lead, copper and bronze
    cashed in prob 10+ years ago though

    my friends father works for a guy who was OCD about copper
    he would save any unused pieces of pipe, wire etc
    he would pick up even the tiniest pieces
    well a couple weeks ago he cashed in for 3K+ on the copper he saved
    lol

    there are a lot of abandoned bungalow colonies around my area
    kinda makes me think about gutting the copper wire and all the copper plumbing from them :ph34r:
     
  8. pissedoffsol

    pissedoffsol RETIRED

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    Well, technically I have the money.... but it will put me near my limits... something I don't like to do.
    the point of this would be to save it for a couple years at the very least, and wait till silver goes crazy.

    back in 1980, silver was over $50 an ounce.
     
  9. BigJ

    BigJ I'm just about that action Boss. VIP

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    Yeah I was talking more like 30k in the couple weeks of selling copper. My company filed chapter 11, so I keep my job by selling copper for the owner.

    I can pull about 500 lbs a day on average, it just matters if the guy has enough cash to settle me when I go in. (Check=Paper Trail).
     
  10. reckedracing

    reckedracing TTIWWOP VIP

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    so you're removing all the old inventory from the chap 11 business?
     
  11. BigJ

    BigJ I'm just about that action Boss. VIP

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    Accountants.....

    It isn't considered inventory. In a bid, the product/material is considered completely used when a job is finished. Any left overs is literally free material for who ever takes it. Part of my job is to literally take all left over material from job sites and keep them if they can be organized in the shop. Well someone 30 year ago thought it'd be a good idea to do that with wire, and yeah we have tons of wire still. Walls of spools it all over the place, and they can't be used as they're non-current high voltage and such so they don't even have a salvage value anymore.

    So I get to cut and strip the wire and sell raw copper at an enormous price so the owner can put gas in his air planes.
     
  12. totalburnout

    totalburnout Well-Known Member VIP

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    Even so, its sold under market value now. You can be an intermediate and then turn around and sell the silver at a profit.

    If I knew of an outlet from which I could sell the silver, I would buy it right now.
     
  13. MugenCRX

    MugenCRX Senior Member

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    The high bidders name is harry_beaver_123!! LOL!!
     
  14. Capt. Orygun

    Capt. Orygun Win the Day

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  15. civicious

    civicious FüK-VTEC VIP

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    That's not an ice tray, it's my grill....and that's not a sno-cone, that's my rang...



    fa sho!
     
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