(Topic ID: 286786)

Precious Metals? Gold, Silver, Prospecting and Collecting.

By phil-lee

3 years ago


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  • Latest reply 35 hours ago by phil-lee
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#701 62 days ago

Fractional gold value must match 80 percent of the total value of the Country's currency for a gold backed dollar to work.
Actually pretty easy with a near-Global revaluation of gold value.

Stacking metals, of any kind( copper, aluminum, stainless steel)l is wise and a valuable endeavor.
Always Stacking copper and currently not selling.
Aluminum stock is on hold for sell. /cans up for daily sell price.
So its come down to junk steel, or Shred.
You find this stuff along the side of the road,it adds up.

Silver is being purchased by non-usual buyers. A lot of them, nearly a Global movement.
Gold too damn expensive so silver will do

I see a 2 day pullback next week when shorts clear.

#702 61 days ago

New to buying gold and silver... so curious, would it be smart to invest now during the rise or too much of a risk that it will sink in the next few months?

#703 61 days ago
Quoted from Pinball-Wiz:

New to buying gold and silver... so curious, would it be smart to invest now during the rise or too much of a risk that it will sink in the next few months?

If anyone knew the answers to your excellent questions we would( or could) all be rich.
Study, feel comfortable about any decision you make from knowledge of the game.

Personally, and this is not financial advice but my opinion) a silver dollar in your wallet or a small gold coin in your vehicle
gives a measure of security.
The sky is the limit from there depending upon available disposable income and initiative into PM.

#704 61 days ago
Quoted from Pinball-Wiz:

New to buying gold and silver... so curious, would it be smart to invest now during the rise or too much of a risk that it will sink in the next few months?

I don’t think of gold and silver as an investment. There’s no guarantee of gain. I personally don’t buy precious metals for profit, but instead for inflation insurance. I park what I can afford in hard assets to preserve my wealth. Many factors must be accounted for in your decision but I wouldn’t chase and load up at these prices hoping to make a quick buck. I’d dollar cost average into a position by purchasing a little every month. It’s not like what you spend is gone either. You can always sell and convert back to dollars (plus or minus the fluctuation). So it depends on a lot of things but mainly your time frame. How long are you investing for? If you buy high now and need to sell in a month (possibly at a loss) then that’s not ideal. If your time horizon is longer out then your chances of seeing a rise in price is more likely.

1 week later
#705 53 days ago

Silver safely resumed its rise yesterday after a short-covering downturn.
Gold still strong but waiting on impetus for further attempts to the moon.
Right now copper is the one to collect and stack.
Yes, silver and gold have been used as currencies for a thousand years.
People forget copper has too.

1 week later
#706 46 days ago

Silver has returned to its old tricks.
I'm shocked, tell you,SHOCKED silver is below 30 dollars.
Not.
May be a good thing, as has been discussed before, if the lid comes off the silver price
it means the dollar is toast.
Still buying gold.

#707 42 days ago

I notice a lot of shills, influencers and talking heads talking up and pushing US junk silver.
The 90% train left the station a couple of Months ago. The Dealers must have tons of it.
I like it and have it in the stack..
However it is much better and easier to do transactions with 999 1 ounce coins or bars. I do not want to try
and explain why a pre-1964 Quarter is worth 6 bucks when it looks the same (to a regular person) to the quarter in their pocket.
The Dealers jacked the price up when it became popular a year ago and now its actually cheaper to buy pure 999.

The Asia Markets are closed Monday so further drops may be in order.
Tuesday I see the climb back in Spot price return.
Comex manipulation and short covering is more difficult when the big buyers in China and India are open for business.

#708 39 days ago

IMG_2480 (resized).jpegIMG_2480 (resized).jpegLast 3 small gold coins. Reached my goal of 1 Oz total 1 Gram - 3 gram fractional.
1/2 Gram elephant
1.50 Gram Maple
1 gram Noah Ark.
Its been fun filling the change purse with sizes that can easily be spent (Barter).
Will return to 1/4 and 1/2 Oz coins.

The 1 gram Noah Ark is an impressive size though wafer thin.
The 1/2 gram Elephant may be the smallest legitimate gold coin available minted by Bavarian Mint.
Not sure why the Canadian 1/20 is so desirable.
All 24K

#709 39 days ago
Quoted from phil-lee:

However it is much better and easier to do transactions with 999 1 ounce coins or bars.

Quoted from phil-lee:

Its been fun filling the change purse with sizes that can easily be spent (Barter).

You just made the argument for why to own junk silver. If silver goes to $50, $100, or $300 an ounce I don’t want to spend a 1oz bar to buy the basics. A silver dime at $100/oz would be worth $7. Perfect for buying some bread or paying for a drink.

#710 39 days ago

I don't want to go out more than necessary. Looking at food/supply orders from 120 to 200.
Hopefully pre-arranged beforehand and ready to pick up.
Right now this is equivalent to my grocery bill, no telling what this would buy if inflation gets worse.
Also no telling what gold or silver would be valued at. Lot of questions.

Just want to come home with stuff. My constitutional would be wiped out in no time for large purchases.

#711 39 days ago

To clarify, I like certain Constitutional coins.
Benjamin halves. Instantly recognizable as 90% silver. Too many Kennedys that can't say this. Lot of flaky Kennedys.
Same with Mercury dimes. Keep the Rosy and Barbers are overpriced and wore out.
Stack AU Peace dollars, consider them a deal in lesser grades.
Hate Washington quarters, though understand why some Folks love them. Too common.

Purchasing with PM needs to be cut and dried right now.
Hispanic Farmers around here like Libertads and vintage gold Pesos.
Americans like Silver dollars and American Eagles.
Asians prefer 24K gold, many make jewelry from small coins. They do not like the Eagle or Krugerrand. Better are the 24K Brittania, Philharmonic, Maple.

Small orders will come later. Get your supplies now.

#712 39 days ago
Quoted from phil-lee:

Hate Washington quarters

How could someone on a pinball forum hate the most classic, euphoria ingrained, nostalgic skeleton key to the childhood arcade experience?!? (at least for my era anyway, though the question is of course in jest)

#713 39 days ago
Quoted from Medisinyl:

How could someone on a pinball forum hate the most classic, euphoria ingrained, nostalgic skeleton key to the childhood arcade experience?!? (at least for my era anyway, though the question is of course in jest)

I feel guilty.
Indeed the quarter is the workhorse for Vending of every type.
As a source of silver there are better options for your cash.

#714 39 days ago
Quoted from phil-lee:

As a source of silver there are better options for your cash.

Was a fairly decent option back when I got it (essentially getting 9 rolls of quarters and a roll of dimes for free), when waiting for boosted eBay bucks provided a bit of a loophole for buying junk silver (I was buying cases of Magic the Gathering to sit on to earn the rewards [ultimately sold most of the MtG for a small profit to fund the pinball obsession ]).

Never sold any of my silver though (mostly have bars), and content with what I've got, but if/when the ratio drops enough, I'd like to swap a chunk into 1/10 gold Brits. (premium hurdle on them, but another sound/feel preference).

#715 39 days ago
Quoted from Medisinyl:

Was a fairly decent option back when I got it (essentially getting 9 rolls of quarters and a roll of dimes for free), when waiting for boosted eBay bucks provided a bit of a loophole for buying junk silver (I was buying cases of Magic the Gathering to sit on to earn the rewards [ultimately sold most of the MtG for a small profit to fund the pinball obsession ]).
Never sold any of my silver though (mostly have bars), and content with what I've got, but if/when the ratio drops enough, I'd like to swap a chunk into 1/10 gold Brits. (premium hurdle on them, but another sound/feel preference).

My Mom was a waitress in 1963-1965 and told me to go through her tips everyday looking for silver before it was withdrawn forever.
Then everything showed up, Walking Liberty halves, standing liberty quarters, and a ton of Barber coins.
Had a lot of silver dollars as well as stuff like 5Peso silver from Mexico.
She used the 90% Washington quarters and Roosevelt dimes to pay bills.
This huge box of silver was stolen during a break in in 2009.
Been getting it back since then.

#716 39 days ago
Quoted from phil-lee:

My Mom was a waitress in 1963-1965 and told me to go through her tips everyday looking for silver before it was withdrawn forever.
Then everything showed up, Walking Liberty halves, standing liberty quarters, and a ton of Barber coins.
Had a lot of silver dollars as well as stuff like 5Peso silver from Mexico.
She used the 90% Washington quarters and Roosevelt dimes to pay bills.
This huge box of silver was stolen during a break in in 2009.
Been getting it back since then.

Brutal to hear. Been stolen from a few times myself, so I can empathize (fortunately never a home break in).

Otherwise my grandfather had mentioned having his kids doing similar to pick out silver in those days...relayed when I took up coin roll hunting as a kid (mostly pennies in a failed attempt to collect all the Lincoln cents). So it's neat to hear another perspective on saving silver in that pivotal time period before my own (born in '85).

#717 38 days ago
Quoted from Medisinyl:

Brutal to hear. Been stolen from a few times myself, so I can empathize (fortunately never a home break in).
Otherwise my grandfather had mentioned having his kids doing similar to pick out silver in those days...relayed when I took up coin roll hunting as a kid (mostly pennies in a failed attempt to collect all the Lincoln cents). So it's neat to hear another perspective on saving silver in that pivotal time period before my own (born in '85).

Stack what you know.
Just cause I don't like something doesn't mean you can't barter with pre-90 quarters if it comes to that.
If something bad does happen to our currency people will learn fast what's real and silver quarters and dimes are viable.
I saved pre-82 pennies for awhile, last of the copper. Love Indian Head pennies and Colonial Large Cents.

#718 38 days ago

Planning on selling some gold this weekend. C'mon 2400! If you upvote this post, the price will rise!

#719 36 days ago
Quoted from PinPatch:

Joining the club, first purchase got these as I liked the imagery and paid a premium for it. If I decide to start stacking will probably go for Aussie silver as the transport fees are negligible, being in Australia.
[quoted image][quoted image]

Dredging up an old post, but I like that SS coin as well (particularly when viewed next to the maple). ...as a side note, despite what some have presumed, my screen-name has zero to do with cannabis.

I had a couple proofs and one standard, but gifted the others. This proof may have been the one I got for the price of the standard--seller didn't seem to know what he had.

Smudging is just on the case, but seeing now it seems to have developed a milk spot above the "o" on the face (some on the maple face as well).
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Quoted from Coindork:

Here’s a fun show and tell.
I bought a group of shipwreck coins recovered from the Akerendam (Dutch shipwreck that sank off the coast of Norway in 1724).
The coins were totally encrusted and unidentifiable when I got them.
Been soaking off and dissolving the marine encrustation to see what I’ve got.
It’s kind of like playing a scratcher.
Some are winners, some are pretty eaten up from salt water. Mostly various Dutch coins from different provinces and coins from Spanish Netherlands (places like Antwerp).
This is all bullion that was on route to Indonesia for trade in the 1700s.
The coins have some corrosion from salt water exposure, but all in all I’m pretty happy with what they look like.
Pretty neat.
[quoted image]
[quoted image]

Old post again, but those look amazing in every condition shown.

One of my favorite periods of coin collecting was during high school, when my mother would gift me uncleaned lots of ancient coins we'd clean (olive oil soak, then whatever necessary) and identify together (unfortunately lost her to cancer in 2008).

Quoted from mattosborn:

Planning on selling some gold this weekend. C'mon 2400! If you upvote this post, the price will rise!

I made the mistake of selling most of my pre-33 around $21xx before the greater rally, intending to get a tube of 1/10 Brits from it (I don't like the look of 90%, and for this nerd, fractional seems to play into the pirate/medieval fantasy, etc. side of things, haha), though hesitated and got discouraged through the rally, so perhaps I wouldn't mind a small pullback over the next 2-3 months (let's say after you sell to be fair ), or at least staying a bit flat. Will be interesting to see where things go if we get a rate cut, or if there's any world event escalation, though never know with how manipulated PMs seem to be, especially silver.

#720 36 days ago
Quoted from mattosborn:

Planning on selling some gold this weekend. C'mon 2400! If you upvote this post, the price will rise!

In case anyone is curious, I've locked in a sale price of $2330 per 1oz coin (American Gold Eagle). That's about a 55% return on my money after holding for ~4 years. Not bad, eh?

#721 30 days ago

Evidently rumors of war have built a new fire under P Metals.
We will see how far it runs before they pound it down again.
Concentrating on food stocks at the moments well as a new generator.
Commodities of all kinds are actually a bargain right now, this may change.

Shipping disruptions are a significant threat well as power disruptions.
Silver and gold are limited as to how far they can help in the short term.

#722 29 days ago

Pictured are 5 Germania Mint 1 ounce bars and 1 Asahi ounce bar.
The Germania bars are tightly shrink wrapped with a nice hologram on the back.
I love them but they have went up on price so far they have become undesirable.
ASAHI is an American operation and this bar is 6 bucks cheaper.
IMG_2484 (resized).jpegIMG_2484 (resized).jpeg

Which would you prefer? Do you have a favorite silver bar?

1 week later
#723 21 days ago

"I don't like it, its too quiet" Duke Nukem
Changing my tactics. Love Sovereign Mint coins.
Eagles, Maples, Krugerrands.
The only silver I will buy now is the cheapest 999 available.
Same with gold.

The past 10 days show LBME and Comex are firmly in control
A good example of a commodity in a tradable, recognizable form is the goal.
Right now Premiums are lost, with no tangible rise in spot.

#724 19 days ago

PM sales are down across the board.
More people are selling off or out.
The economy is blamed with more people needing operating cash.
There is enough silver in the Market from sales / orders for new from Dealers slipping.
Junk silver sold at spot or below, a trend not seen in years.
American gold still preferred over foreign when sales do occur.

#725 18 days ago
Quoted from phil-lee:

More people are selling off or out.

“Sell” is a four letter word

#726 18 days ago
Quoted from Ballderdash:

At or below $2000 gold and $25 silver with premiums is a steal in my opinion. That is a solid floor where I don’t think anyone would lose value. I’d be accumulating at those numbers. If someone is looking to start a position and dollar cost average in to a small holding I could see dabbling at $2200 and $26. Then add more if/when the price goes down.

Kind of crazy when you think about it, now 70 days later, and neither of these buying opportunities have materialized. It's been an impressive run. It will be interesting if commodity inflation will keep metals supported above these lower levels idefinately.

#727 18 days ago
Quoted from Ballderdash:

I don’t think of gold and silver as an investment. There’s no guarantee of gain. I personally don’t buy precious metals for profit, but instead for inflation insurance. I park what I can afford in hard assets to preserve my wealth. Many factors must be accounted for in your decision but I wouldn’t chase and load up at these prices hoping to make a quick buck. I’d dollar cost average into a position by purchasing a little every month. It’s not like what you spend is gone either. You can always sell and convert back to dollars (plus or minus the fluctuation). So it depends on a lot of things but mainly your time frame. How long are you investing for? If you buy high now and need to sell in a month (possibly at a loss) then that’s not ideal. If your time horizon is longer out then your chances of seeing a rise in price is more likely.

Curious what percentage of your portfolio you consider ideal. Do you consider physical holding better or different than Gold or Silver ETF's? If so, do you have an opinion on percentages there as well? Interested in the opinions of everyone else as well.

#728 17 days ago
Quoted from ovfdfireman:

Curious what percentage of your portfolio you consider ideal. Do you consider physical holding better or different than Gold or Silver ETF's? If so, do you have an opinion on percentages there as well? Interested in the opinions of everyone else as well.

10%. I do, yes. Some looking for dollar profits may prefer the ease of buying and selling ETFs. However, if preparing for a collapse or trying to avoid counterparty risk, physical is king. Having the metal in your possession if the market/dollar fails guarantees access to your funds.

#729 11 days ago

What commodities do you value higher then metals?
I appreciate a good generator, or two.
Propane- powered appliances.
5 gallon Primo water containers with manual pumps.
Variety of canned foods besides the usual beans and tomatoes.
Decent pickup truck and utility boat.
What is most important to you?

#730 11 days ago

I dumped precious metals for stock over a decade ago. Best decision for me as I'm too lazy to lug metal around to sell it.

I just buy stocks of dividend-paying blue chip companies when they are unusually low. Then I collect the div and wait to sell for roughly 30%-40% in a year or two. The market is a very slow clock. If you're patient, you'll always know what time it is. I leave the get rich quick Nvidias to the kids. I learned all about that approach the hard way.

But if there is ww3, I won't be able to trade my stock for food...

#731 11 days ago
Quoted from Tranquilize:

But if there is ww3, I won't be able to trade my stock for food...

Imagine going to a post-SHTF restaurant. You ask, "What are your side options?" The waitress replies, "Oh, you mean our stock options? We can't get food at the moment, try again tomorrow."

#732 9 days ago

Something broke...

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#733 8 days ago

Yeah Crash, some things are going on.
Gold is the Prairie Dog sounding out the canary in the coal mine.
Just having fun.
Doing maintenance on things, acquiring replacement parts.
Precious metals are on the back burner.
Alternative commodities moved to the front.

#734 8 days ago

Not sure what to think about gold or silver at the moment but, copper? Added about 50 lbs. to the pile today.

The big question for me is, do I cash in now or hold out for next year? My gut and everything I read tells me that it is going to keep going up. The risk I have of holding though is hurricane season. It could wipe out my pile quite easily.

IMG_1576 (resized).jpgIMG_1576 (resized).jpg
#735 8 days ago

If a hurricane passes through Summerland and we see a flying copper spaghetti monster we know who it is!

#736 5 days ago

Gold hitting all-time highs again.... Time to sell some more!

#737 5 days ago
Quoted from mattosborn:

Gold hitting all-time highs again.... Time to sell some more!

IMG_4121.gifIMG_4121.gif
Too soon

#738 4 days ago
Quoted from Ballderdash:

[quoted image]
Too soon

As I was saying…

IMG_4143 (resized).jpegIMG_4143 (resized).jpeg
#739 4 days ago

Unless you need the cash I’d wait for the $3,000 - $5,000 mark. It will happen.

#740 4 days ago
Quoted from lifefloat:

Not sure what to think about gold or silver at the moment but, copper? Added about 50 lbs. to the pile today.
The big question for me is, do I cash in now or hold out for next year? My gut and everything I read tells me that it is going to keep going up. The risk I have of holding though is hurricane season. It could wipe out my pile quite easily.
[quoted image]

That looks like a fair amount of time and effort. Not to mention fuel. How much do you get per pound? Around here its only a few bucks/lb.

#741 4 days ago
Quoted from Ballderdash:

Unless you need the cash I’d wait for the $3,000 - $5,000 mark. It will happen.

I'm sure it will reach that some day. But for now, I'm just going to sell a few ounces and re-invest elsewhere. Got my eye on some high-dividend stocks.

#742 4 days ago
Quoted from mattosborn:

Got my eye on some high-dividend stocks.

At the top of another market?

#743 3 days ago
Quoted from Ballderdash:

At the top of another market?

Top? Show me your crystal ball.

#744 3 days ago
Quoted from mattosborn:

Top? Show me your crystal ball.

I’m not trying to argue with you. I’m trying to protect you from losing what you’ve got. We’re in this mess together.

#745 3 days ago
Quoted from Ballderdash:

I’m not trying to argue with you. I’m trying to protect you from losing what you’ve got. We’re in this mess together.

Same, not arguing at all. I don't pretend to understand the market or where it's headed. What I can tell you is that some of the biggest mistakes I've made are selling a stock when I shouldn't have. The other big mistakes are not buying at all (e.g. waiting for another dip that doesn't happen).

As for gold, I'm just going to sell a little bit as it climbs. I plan on keeping most of it, as I feel it is a safe investment that will do well in the long term.

#746 2 days ago

Seems like the days when the gold tide raised silvers boat has passed.
31 dollars an ounce seems like the new insurmountable mountain for silver.
Have 100 oz of silver need to liquidate for gold but now is not a good time.
Such a glut of silver on the shelves from Sellers coin shops are paying well back of spot.
Or no longer buying at all.

#747 46 hours ago
Quoted from phil-lee:

Such a glut of silver on the shelves from Sellers coin shops are paying well back of spot. Or no longer buying at all.

Physical silver is such a small market that the moment people realize they need it, it will be gone. You may see inventory now but that’s nothing compared to the claims on it. If you’re investing in silver for daily gains you’re doing it wrong. It’s an inflation hedge/rainy day fund/lottery ticket. The moment it hits $50 it will hit $100, then $300 before you know it. In a dollar collapse (the Fed is F’ed btw) you’re going to want metal. If you don’t think that’s going to happen sell your silver and move on. It’s going to be boring until it’s not. Put that cash in a bank CD instead.

#748 45 hours ago

Balder I post information that may be of value to someone here.

Quoted from Ballderdash:

If you’re investing in silver for daily gains you’re doing it wrong.

Have made it obvious from previous posts I am not. Turning silver into gold, thats all.

Quoted from Ballderdash:

It’s an inflation hedge/rainy day fund/lottery ticket.

Silver is a tangible form of payment in the event of serious currency devaluation.

Quoted from Ballderdash:

The moment it hits $50 it will hit $100, then $300 before you know it.

The ONLY impetus for these types of moves would be a complete collapse of the US Currency.

Quoted from Ballderdash:

If you don’t think that’s going to happen sell your silver and move on.

I sold a gold Maple around 1993. Thats it.

As to whether that happens anytime soon is conjecture. Prepare accordingly.

#749 45 hours ago
Quoted from phil-lee:

Balder I post information that may be of value to someone here.

Have made it obvious from previous posts I am not. Turning silver into gold, thats all.

Silver is a tangible form of payment in the event of serious currency devaluation.

The ONLY impetus for these types of moves would be a complete collapse of the US Currency.

I sold a gold Maple around 1993. Thats it.
As to whether that happens anytime soon is conjecture. Prepare accordingly.

I didn’t stutter.

#750 45 hours ago
Quoted from Ballderdash:

I didn’t stutter.

I'm not a novice. Thanks for the insight!

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