(Topic ID: 286786)

Precious Metals? Gold, Silver, Prospecting and Collecting.

By phil-lee

3 years ago


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  • 668 posts
  • 62 Pinsiders participating
  • Latest reply 16 hours ago by phil-lee
  • Topic is favorited by 20 Pinsiders

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There are 668 posts in this topic. You are on page 12 of 14.
#551 1 year ago
Quoted from lifefloat:

My current stash (see pic)
About 1500lbs.
Historically I'm within 50lbs. on my guesses when I cash it in. I do a couple of these a year. I arrange pricing before I show up with a load. My guy is always happy to see me.
[quoted image]

I've been saving 12oz aluminum cans for about a year. I got I believe $0.70/lb last fall for my first load.

#552 1 year ago

Now we have $4.20 copper.

#553 1 year ago
Quoted from Crash:

Now we have $4.20 copper.

Do you accumulate and accumulate and then sell on the runs up Crash ?

There are times to accumulate like that last year and especially 2015 ish. Is selling part of your metals holdings high part of anyones plans?

Thanks

#554 1 year ago
Quoted from pinnyheadhead:

accumulate and accumulate and then sell on the runs up

I do my best to achieve this when cashing in scrap metals.

#555 1 year ago
Quoted from lifefloat:

I do my best to achieve this when cashing in scrap metals.

Basically this, yes.

1 month later
#556 1 year ago

Gold is on the climb again....

#557 1 year ago

I'm sure banks collapsing has nothing to do with it...

1 week later
#558 1 year ago

American "Junk" silver (Pre-1965 US coins) desirability has jumped time during the last 80 days.
Seems like a consensus among stackers, hoarders, novice collectors and concerned citizens has settled in.

2 weeks later
#559 1 year ago

I sold all my Junk at $20FV when spot was at $18 after buying all my junk for $20FV when spot was $25 a few months ago. Thought I was making a good arbitrage trade at the time, but now I miss my junk!

#560 1 year ago
Quoted from palmab03:

I sold all my Junk at $20FV when spot was at $18 after buying all my junk for $20FV when spot was $25 a few months ago. Thought I was making a good arbitrage trade at the time, but now I miss my junk!

Prices have went insane. If you want a good laugh go on APMEX and price 1/10 ounce gold coins and silver eagles.
Still,its strange the attraction for junk silver. Perhaps because its the "Other American silver coins".

Really glad I have all I need and took advantage of the dips in recent Months.

#561 1 year ago
Quoted from phil-lee:

Still,its strange the attraction for junk silver. Perhaps because its the "Other American silver coins".

That and they are ideal for barter. Which will be important I feel in the next couple of years. Junk US silver coins and Goldbacks.

1 week later
#562 1 year ago

People are buying Buffalo silver rounds. Look a like Walking Liberty, Peace and Morgan rounds.
Real Silver Eagles have become a rich persons coin.
Folks cant get enough Junk Silver and silver rounds.

1 week later
#563 12 months ago

The metals are up again on the First Republic Bank closure likely to happen this weekend. Spot market is closed so if that actually happens between now and re-opening the price results could be interesting...

#564 12 months ago

Yeah, funny how it always happens on a Friday.
I reached 10% of my net worth in gold and silver so no longer buy. More concerned with stacking cash at the moment.
Still consider Nickle a "Sleeper" metal that could experience explosive growth.
I used to clean all my scrap but was paid so little for my last load just piling it up for now. After a remodel I have a stove, fridge, washer and dryer and air conditioners. Electric heaters, hardware and copper pipe too.

#565 12 months ago

I just sold a bunch of aluminum cans for $0.50 per pound. A little down from last June when it was $0.70 but that's fine. Free money. I'm saving my copper wire for when it takes off again and I have more stored up. Only have a few pounds so far.

#566 12 months ago
Quoted from phil-lee:

Yeah, funny how it always happens on a Friday.
I reached 10% of my net worth in gold and silver so no longer buy. More concerned with stacking cash at the moment.
Still consider Nickle a "Sleeper" metal that could experience explosive growth.
I used to clean all my scrap but was paid so little for my last load just piling it up for now. After a remodel I have a stove, fridge, washer and dryer and air conditioners. Electric heaters, hardware and copper pipe too.

A good way to hoard the metal nickel, is by saving 1981 and prior Canadian nickels, they are 100% nickel, there may be a few years in the fifties that are another metalic content

#567 12 months ago

Thanks for the tip Pincoin ! Not into searching rolls for American. I would actually like to purchase Kilo ingots of the stuff but haven't researched it yet.
Seems the Market in the States still leans heavily toward US Mint products, old and new. People are willing to pay very high premiums for this stuff even though they could get much more actual bullion weight with other Mints and Generic.
Remember, you are purchasing another form of currency to SPEND. Once its gone will be hard to get back.

#568 11 months ago
Quoted from Crash:

I just sold a bunch of aluminum cans for $0.50 per pound. A little down from last June when it was $0.70 but that's fine. Free money. I'm saving my copper wire for when it takes off again and I have more stored up. Only have a few pounds so far.

So they tared me 10 pounds over which is annoying, basically got 320 cans for free. Is that normal? Their container is over 200lbs according to the ticket.

1 week later
#569 11 months ago
Quoted from Crash:

So they tared me 10 pounds over which is annoying, basically got 320 cans for free. Is that normal? Their container is over 200lbs according to the ticket.

Salvage metal dealers used to pay a nickle or dime more per pound if the cans were flattened.
When I had flattened cans I weighed them before trying to sell.
Hard to weigh non' flattened,actually had a guy transfer the cans by hand looking for debris one time.
On the silver/gold front I still insist gold is king. Silver is close to feeling like a scam.
Watch silver for awhile and you begin to see the pattern.
Slow Dow Jones day? Paper silver sells off. Then its allowed to rise for awhile,price shoots up, then it sells off again.
Until this scheme is deep-sixed silver can be a losing game.
World purchases of gold is hampering their price fixing, the lid will come off soon.

#570 11 months ago
Quoted from phil-lee:

Salvage metal dealers used to pay a nickle or dime more per pound if the cans were flattened.
When I had flattened cans I weighed them before trying to sell.
Hard to weigh non' flattened,actually had a guy transfer the cans by hand looking for debris one time.

Mine were flattened. Doesn't make any difference to them but it saves me a ton of space when collecting them.

3 months later
#571 8 months ago
Quoted from mattosborn:

Still offering gold (1oz American Gold Eagles) for pinballs. What have you got?

This thread has been very quiet….
I see a lot of Jurassic Park Premiums up for sale…. I’ll trade four 1oz Gold Eagles for one. That’s $8K+.

2 months later
#572 6 months ago
Quoted from mattosborn:

I see a lot of Jurassic Park Premiums up for sale…. I’ll trade four 1oz Gold Eagles for one. That’s $8K+.

Gold is on the rise again!
This offer still stands (current value: ~$8500).

#573 6 months ago

People say to stock commodities. Items of tangible wealth.
Gold is a Tier One asset. Silver is an also ran as long as CB manipulation continues.
Food has become a Tier One in my opinion. So has fuel.
Land is still number one. The ability to grow food and enjoy some semblance of privacy.
Tools are primary. so are electrical generators that run on diesel and propane/natural gas.
Precious metals are fun but they won't save us.
Keep stacking aluminum, copper, bronze and high grade iron.
Keep a little physical gold and some spending silver.

#574 6 months ago

Please make sure your pantry is full. Stuff you like to eat. Stuff that stores well like rice, pasta and beans.
Country Ham and Summer sausage along with jerky and pepperoni.
Throw back 20 gallons of water. I like the 5 gallon Primo bottles, Lowes has a simple pump for 13 bucks.
Cheap cold preps like NyQuil (or off brand), aspirin, vitamin C and cough suppressants. Cheap whiskey has its place.
Batteries (AAA and AA) are real handy to have around. So are flashlights and a FM or Shortwave radio.
Space blankets could be lifesavers. Fill your fuel cans and propane tanks.
These sort of preps are desirable right now.

#575 6 months ago

Also for storing gasoline for small engines such as generators, you should be using ethonal free. Small engines are not designed to run on ethanol fuel, even if it's just 10%. Plus, ethanol is what ruins like, 99% of stored fuels due to water intrusion. Ethanol free can store I believe up to 8 or 9 months in a sealed container or gas tank. Regular pump gas will not last the winter.

#576 6 months ago
Quoted from phil-lee:

Cheap whiskey has its place.

...along with a good supply of other 'medicinal' beverages!

I line the bottom of my deep freeze with plastic jugs containing water. This and a few heavy blankets a top the freezer keeps things frozen/cold for quite a while in the event of a power outage. An added bonus is a ready supply of safe drinking water.

#577 6 months ago

Crash, high octane non ethanol fuel is even better. You can get it at the airport and some stores near race tracks.
My motorcycle Dealer told me they put it in all their bikes for sale since they may sit around awhile before they sale. It takes a good while for 105 octane to drop to 89.
Thanks for the video. I have learned a lot from Taryl Dactal and Zippo Varga about small engines.

Quoted from ManyQuarters:

...along with a good supply of other 'medicinal' beverages!

Everclear would probably be best since it is so potent(pure grain alcohol). The stuff scares me after a youth consuming PJ.

#578 6 months ago
Quoted from phil-lee:

Everclear would probably be best since it is so potent(pure grain alcohol). The stuff scares me after a youth consuming PJ.

Oh Lordy, yes I survived 'neverclear' too!

Nothing like that blackout / hangover to remind me of my wasted teenage youth on booze and pinball.
Thankfully, I have moved on to brandy, cognac and more pinball.

#579 6 months ago
Quoted from ManyQuarters:

Nothing like that blackout / hangover to remind me of my wasted teenage youth

#580 6 months ago
Quoted from ManyQuarters:Thankfully, I have moved on to brandy, cognac and more pinball.

So do you do "The glass Roll?"
Cognac can be dangerous too!

#581 6 months ago

Really weird today when gold went STRAIGHT UP and stayed there.
It was like everyone put in large orders at the same time. Still not sure why other then the usual suspects.

#582 6 months ago
Quoted from phil-lee:

So do you do "The glass Roll?"
Cognac can be dangerous too!

Oh, I like my warmed up Martell on winter occasions, sure keeps the sinuses clear and colds away!
For everyday value though I've settled on Metaxa.

Interesting how in Victorian times brandy was the ready steadier go to aspirin of the day.

Quoted from phil-lee:

Really weird today when gold went STRAIGHT UP and stayed there.
It was like everyone put in large orders at the same time. Still not sure why other then the usual suspects.

Middle East tensions escalating and gold doing its flight to quality before the weekend, closing above $US 2000!

#583 5 months ago
Quoted from ManyQuarters:

Middle East tensions escalating and gold doing its flight to quality before the weekend, closing above $US 2000!

Yes, this exactly. The narrative is Israel is invading today. Take it with a grain of salt.

I'm guessing the spike was about 1:00PM Eastern Time yesterday. Wow!
_20231028_130309 (resized).JPG_20231028_130309 (resized).JPG_20231028_130347 (resized).JPG_20231028_130347 (resized).JPG

Despite this:

According to the CME FedWatch Tool, markets see a nearly 100% chance that the Federal Reserve will leave interest rates unchanged between 5.25% and 5.50%. At the same time, the Federal Reserve is expected to maintain restrictive monetary policies for the foreseeable future.

#584 5 months ago

would expect when that mysterious PM trading desk opens tonight they will return to POUNDING these prices back down.
don't think it is easy as it once was.
Pretty much given up on silver doing anything until the manipulation ends.
Still purchasing gold though, its kind of unique compared to the other metal offerings.

#585 5 months ago

Price of gold in Japanese Yen, 20 year chart, going exponential and nearly doubling in price in just the last 3 years!
(The Yen is the third most traded currency in the foreign exchange market).

gold_20_year_o_jpy_x (resized).pnggold_20_year_o_jpy_x (resized).png
1 week later
#586 5 months ago

Interesting and unique perspectives on gold in this Kitco video interview at the 2023 New Orleans Investment Conference. (Much more to it than just the China headline, especially Michelle, the smart and easy on the eyes host).

https://www.kitco.com/news/2023-11-14/China-s-gold-holdings-are-10x-reported-amounts-the-real-reason-Beijing-is-secretly-hoarding-gold-Dominic-Frisby.html

#587 5 months ago
Quoted from ManyQuarters:

Price of gold in Japanese Yen, 20 year chart, going exponential and nearly doubling in price in just the last 3 years!
(The Yen is the third most traded currency in the foreign exchange market).[quoted image]

Talk about your currency turning worthless!

2 months later
#588 3 months ago

Stripped some copper wiring recently.
Good indoor activity when its freezing outside.
Took a huge load of scrap metal to sell today.
The small container of copper wire sold for 40 percent of the load.
Got copper?
The new cash metal.

#589 3 months ago

Got copper?
Cut off/remove any metal attached to get best price.
Use a good magnet to determine the metal.
Aluminum, copper, bronze? Not magnetic.
Stainless? A slight magnetic pull for certain grades.
DONT BURN WIRE TO GET THE COPPER OUT!
Recyclers don't want it. 80 cents a pound versus 3.20-400.
Pollutes like Hell.
Small amounts of copper are in everything. They add up when extracted.

#590 3 months ago

Scrap is hot.
One of the last Wild West cash businesses left.
Regional, hard for Whale - Type Buyers and Sellers to take over with pricing controls.
Recyclers want it and are paying.
Learn to scrap something. Take a stove apart and separate the different metals.
Stress reliever as well as profitable..

#591 3 months ago
Quoted from phil-lee:

Pretty much given up on silver doing anything until the manipulation ends.

That was 85 days ago.
Seems there is a lot of chatter about silver hate.
A Great awakening about silver and its failure to meet expectations.
Is it real?
Or do they just want to crush and control the Market?

Still buying small gold, no silver.
Probably wrong.

#592 89 days ago
Quoted from phil-lee:

Stripped some copper wiring recently.
Good indoor activity when its freezing outside.
Took a huge load of scrap metal to sell today.
The small container of copper wire sold for 40 percent of the load.
Got copper?
The new cash metal.

I sold a bunch of old service conductor copper wire last December and got $58 for 18 pounds of that. The bare bright wire fetched $3.24 per pound.

#593 89 days ago
Quoted from Crash:

I sold a bunch of old service conductor copper wire last December and got $58 for 18 pounds of that. The bare bright wire fetched $3.24 per pound.

Most salvageable copper is in dumps from the 40's.
The price has reached a level where a little research done on where these dumps are is valuable.

#594 83 days ago
Quoted from phil-lee:

Seems there is a lot of chatter about silver hate.
A Great awakening about silver and its failure to meet expectations.
Is it real?
Or do they just want to crush and control the Market?

Never really sure about the silver price/market, more variables to evaluate than gold:

- Industrial metal use, varies with the economy rather than geopolitical events, (like gold does).
- It's mainly byproduct from base metal mining of lead/zinc, wartime brings more supply to the market.
- Mexico is the big producer, always a maybe supply/disruption wild card.
- Latest chatter about solar/critical use, see point 1.
- Seems to be late to the party when gold price soars but first to tank, but when she goes she really goes.
- Buying selling needs to be precisely timed, unlike the long term and dependable safety of gold.
- The JP Morgan story is forever out there. They just pay fines and never have to admit. We'll never know.

Having said all that is JMHO but the same rumors of immanent takeoff or crashing of the silver price were constantly bandied about 20 some odd years ago when the price was closer to $4 US/oz. Today, she's over 5X's higher, so...

#595 82 days ago

You have done your homework, very good points.
The old saying " as gold rises silver follows" may be quietly changing, at least in Comex areas.
Silver is heading toward full Industrial Commodity like copper. Price manipulation helps steer it.

I add a few ounces to a gold order to round it off.
Its came down to 4 choices to me;
American Silver eagle
American Peace dollar, VG or higher
Germania Mint 1 ounce bar
Mexican Mint Libertad or 5 Peso

There are better deals but I have a reason for each of these.

#596 81 days ago

Thanks phil-lee.

I fail to understand why copper isn't worth more? It's the life blood of the vast electrical world.
What I do know:

- Doctor copper's health depends on the state of the World economy.
- It is somewhat rare, but not in the same league as the precious ones.
- Copper porphyries (low grade, big tonnage, disseminated ores), the main source, need big $ to scale up.
- Chile is the main producer of copper but and so is forever manipulated by the big consumers.
- A decent gold byproduct (or main product) is usually in the Cu ores. This affects recoveries of each.
- A higher gold price will bring more copper to supply (or visa versa, see above point).
- Geopolitics, sanctioning, supply disruptions, as usual, play games with the price.
- Recycling, is it a big factor in price determination?

Copper map (resized).jpgCopper map (resized).jpg
#597 78 days ago

Good afternoon MQuarters.
Global Manufacturers of copper wire are hamstrung through Regulations.
You probably remember the fire disasters that occurred in the recent past (and still occur from older installations)
using aluminum wiring.
Other metals can conduct well but simply cannot replace the resilience of copper.

Chile as well as other South American sources are under constant Cartel pressure that threatens innovation that would increase extraction/export efficiency.

Gold used to be a byproduct of copper extraction.
Now they concentrate on the gold and copper mining suffers, hence, a shortage of supply.

Simply there is no alternative for copper right now.
Without price controls applied to it much like what is occurring with silver the price of copper would skyrocket to a point of UN sustainability.

#598 78 days ago

Why am I concentrating on Cash?

If There is a blip from the Power Company cash is the only way to procure goods.
People rapidly transfer their accounting to accept cash when the System is down.
(cash boxes, mechanical cash registers, adding machines with paper, calculators)
For a short period of time cash will be preferred over all other sources for transactions.
United States cash for us in the lower 50.
Companies that recently refused cash transactions change policy.

"Cash on the glass"

1 week later
#599 68 days ago

Quick tip for the weekend;
Stay away from Mining Stocks. All of them.

#600 68 days ago
Quoted from phil-lee:

Quick tip for the weekend;

I agree for the right now but do you have a favorite when the mining stock cycle makes its annual turn in September? (Specifically, I mean gold 'producers,' not exploration stocks).

My favorite is still AEM, Agnico Eagle, where I hold and save up the decent quarterly dividends to buy more in the summer lows. (Smart people buying Kirkland Lake for its Fosterville and Detour Lake mines.)

Having said that, I am keeping a pretty close watch on developments at New Found Gold Corp. (TSX-V: NFG, NYSE-A: NFGC). They have a few years now of very impressive gold grades and widths coming out of their 100% owned 1,662km2 Queensway gold project, located on the Trans-Canada highway 15km west of Gander, Newfoundland. Qualifying reserve / resource calculations are yet to be published but I'm a buyer before that.

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