Is this why I just got a letter saying we're expecting an 13% increase in the unit price of electricity? Even if my provider is still the cheapest locally, I am tempted to switch providers just to send the message that a hike means customers leave. So they can either have slightly less profit off me, or none at all. Their call, in the long run, if enough people abandon ship.
Any advice for someone shopping around residential providers?
I still cant understand how silver can be mined, refined, transported, shaped and a pretty image stamped on for the price we are able to purchase an ounce and pay the wages of everybody involved and all the energy, utility and insurance costs and god knows what else but at the end of all that process and all the wages have been spent the only thing left is the silver ounce.....which i now own! woohoo. But yea going to be interesting seeing the energy prices increasing, im fixed in a nice deal with coop till March 2020
@russelbury remember that the majority of silver is retrieved while mining for other materials like gold (silver is more abundant in this case). This means that it is only one if the interest coming out of the mine. Also, the large portions of silver that go into commercial use account for a larger profits share than what we get ahold of. This steady supply and large market means prices can be lower than with other metals.
I do understand factors that keeps silver low but take Perth Mint/Royal mint etc, they buy a bulk amount of silver at a market value dependant on supply but then the real costs of producing the coin come into play, wages for one, the people producing the coin, the person creating the designs etc, then the building costs rent, insurance, utilities.
I try keep my business to a 70% gross profit margin, ie if a car part costs me £11 i want to sell and fit that part for about £35 - £40 as thats what it costs to run a business, sure millions of coins are sold and the margins can be less but £11 of raw material sold for £18 including VAT is less than 30% and wages and energy costs are increasing and so will the margins, if silver spot drops and demand drops then these tight margins dont pay the running costs of the business, its like a big game of shiny chess trying to think 20 moves ahead, love it :)
It is indeed @russellbury and that is a primary reason a lot of private mints go under, however with the Royal Mint, Perth Mint, and U.S. Mint you must keep in mind that they always have governmental funds to fall back on. If there is on thing government agencies have a great ability to do it is make bad decisions and use debt to cover them.
Awesome job brother! The trends tend to show the way and these patterns do line up for the most part. I think bad fiscal policies by the governments will be a main factor as well as we usually have a downturn or bubble bursting every ten to fifteen years. Resteemed and upvoted! Thanks for sharing!!
It's too bad that the average consumer can't contract to purchase cheaper gas right now like the big companies can. I wouldn't mind locking in some lower prices. There aren't really options for getting power where I live. It's just one utility company that provides it and the government regulates what the cost is. I'll give you a hint, it's high.
76 to 80, that's over a 5% increase in just a few days. That's not uncommon in crypto, but for something as basic and fundamental as gas, that's a big swing.
I'm not able to get the volumes of silver that you are, it's more like a coin here and a coin there, but I'm still stacking and glad I'm doing it.
Many people will say that we're crazy until everything hits the fan and then they'll be wishing they'd stacked like us.
There do appear to be some things coming on the horizon for several countries and I do not think it will be good. Alongside the price increases, we can see big bank/governments are stockpiling things like silver, so they also must think something is coming. Thanks @britcoin! Upvoted and Resteemed
We've already been seeing these prices rise to the end consumer. I've been noticing the price of gas at the pump going up. Hasn't been any particular news on why, but it's definitely creeping up. Man, being good at what you do, you could save your clients a LOT of money!
Upvoted & Resteeded, as one does.
Is this why I just got a letter saying we're expecting an 13% increase in the unit price of electricity? Even if my provider is still the cheapest locally, I am tempted to switch providers just to send the message that a hike means customers leave. So they can either have slightly less profit off me, or none at all. Their call, in the long run, if enough people abandon ship.
Any advice for someone shopping around residential providers?
I still cant understand how silver can be mined, refined, transported, shaped and a pretty image stamped on for the price we are able to purchase an ounce and pay the wages of everybody involved and all the energy, utility and insurance costs and god knows what else but at the end of all that process and all the wages have been spent the only thing left is the silver ounce.....which i now own! woohoo. But yea going to be interesting seeing the energy prices increasing, im fixed in a nice deal with coop till March 2020
@russelbury remember that the majority of silver is retrieved while mining for other materials like gold (silver is more abundant in this case). This means that it is only one if the interest coming out of the mine. Also, the large portions of silver that go into commercial use account for a larger profits share than what we get ahold of. This steady supply and large market means prices can be lower than with other metals.
I do understand factors that keeps silver low but take Perth Mint/Royal mint etc, they buy a bulk amount of silver at a market value dependant on supply but then the real costs of producing the coin come into play, wages for one, the people producing the coin, the person creating the designs etc, then the building costs rent, insurance, utilities.
I try keep my business to a 70% gross profit margin, ie if a car part costs me £11 i want to sell and fit that part for about £35 - £40 as thats what it costs to run a business, sure millions of coins are sold and the margins can be less but £11 of raw material sold for £18 including VAT is less than 30% and wages and energy costs are increasing and so will the margins, if silver spot drops and demand drops then these tight margins dont pay the running costs of the business, its like a big game of shiny chess trying to think 20 moves ahead, love it :)
It is indeed @russellbury and that is a primary reason a lot of private mints go under, however with the Royal Mint, Perth Mint, and U.S. Mint you must keep in mind that they always have governmental funds to fall back on. If there is on thing government agencies have a great ability to do it is make bad decisions and use debt to cover them.
Awesome job brother! The trends tend to show the way and these patterns do line up for the most part. I think bad fiscal policies by the governments will be a main factor as well as we usually have a downturn or bubble bursting every ten to fifteen years. Resteemed and upvoted! Thanks for sharing!!
Upvoted 100% and Resteemed!
It's too bad that the average consumer can't contract to purchase cheaper gas right now like the big companies can. I wouldn't mind locking in some lower prices. There aren't really options for getting power where I live. It's just one utility company that provides it and the government regulates what the cost is. I'll give you a hint, it's high.
76 to 80, that's over a 5% increase in just a few days. That's not uncommon in crypto, but for something as basic and fundamental as gas, that's a big swing.
I'm not able to get the volumes of silver that you are, it's more like a coin here and a coin there, but I'm still stacking and glad I'm doing it.
Many people will say that we're crazy until everything hits the fan and then they'll be wishing they'd stacked like us.
I need to start paying attention to these sorts of things. Thanks! Upvoted as always.
There do appear to be some things coming on the horizon for several countries and I do not think it will be good. Alongside the price increases, we can see big bank/governments are stockpiling things like silver, so they also must think something is coming. Thanks @britcoin! Upvoted and Resteemed
The not funny thing is that here in Brazil we have the same problems.
The not funny thing
Is that here in Brazil we
Have the same problems.
- ronaldoavelino
I'm a bot. I detect haiku.
We've already been seeing these prices rise to the end consumer. I've been noticing the price of gas at the pump going up. Hasn't been any particular news on why, but it's definitely creeping up. Man, being good at what you do, you could save your clients a LOT of money!