Silver is still down, buy the dip!
(Topic ID: 286786)
Quoted from Crash:Silver is still down, buy the dip!
In response to your earlier question,
There are many youtube videos on copper ingot manufacture. I've watched these guys and basically the ingot mold is the critical part.
Otherwise wrap all of your wire (I assume its been stripped?_ on a chunk of pure copper, not a copper pipe.
Put the tightly wrapped coil in a heavy cast iron pot.
Hit it with a torch. Support the pot where heat can be readily applied under and around the pot.
Use a big torch, not some portable weenie unit.
The Sh%t will melt.
You will notice a "Scum" layer form on the top of the liquid metal.
These are impurities, scoop them off (a quick flick of the wrist.)
Then pour the copper in the mold.
Cool, then remove.
People used to use cast iron "Corn Cob" baking pans to pour ingots. Especially for lead but works for copper/brass too.
Discovered the Bavaria Mint. Oldest Mint in Europe. They produce most of the general circulation Euro coins as well as Olympic coins, Medals and Legal Stamps (think Notary stamp machines.)
They also produce Somalia Gold and Silver coins.
I ordered the Elephant 1/10 and 1/25 ounce Gold coins.
Kind of an inside secret on this coin,impeccable mintage, detail and collectibility produced by a German Mint.
The 24Kt Somalia gold elephant coins are not recognized by Somalia. Seems some long-ago Finance Minister or Prime Minister signed an agreement to mint the coin years ago.
The current Head Honcho of Somalia disputes the Bavarian Mints right to make the coin.
So We have what could become an illegal coin.
Don't matter, its an affordable 24Kt coin backed by the Bavarian Mint.
Pictures will come upon arrival.
Also ordered one of the Silver Elephants just because..
Is it best to leave bare bright copper wire insulated before I plan to sell it, or can I strip it now to save space?
Quoted from Crash:Is it best to leave bare bright copper wire insulated before I plan to sell it, or can I strip it now to save space?
Strip it now, just store it indoors to keep it shiny
As promised the Somalia Gold / Silver.
The 1/10 ounce is 20MM, same size as a 1/4 OZ Kangaroo(included a AMGE 1/10 and 1/4 Perth Kangaroo for comparison) This makes the coin extremely thin. You can see the Design better.
Same quality on the 1/25 OZ 2021 that comes in at 14mm.
The Bavarian Mint does an exceptional job on the strike and presentation. 24Kt/ 999.9 Gold.
The Silver coin is a perfect mirror background with proof-like Elephant (not a milkspot but a stray finger smudge). Difficult to photograph where the background doesn't appear black.
They change the design annually so there is somewhat of a Collectors angle. Will be revisiting This Series but very pleased with these coins.
IMG_2373 (resized).jpgIMG_2371 (resized).jpg
Athens, OH
Quoted from phil-lee:As promised the Somalia Gold / Silver.
The 1/10 ounce is 20MM, same size as a 1/4 OZ Kangaroo(included a AMGE 1/10 and 1/4 Perth Kangaroo for comparison) This makes the coin extremely thin. You can see the Design better.
Same quality on the 1/25 OZ 2021 that comes in at 14mm.
The Bavarian Mint does an exceptional job on the strike and presentation. 24Kt/ 999.9 Gold.
The Silver coin is a perfect mirror background with proof-like Elephant (not a milkspot but a stray finger smudge). Difficult to photograph where the background doesn't appear black.
They change the design annually so there is somewhat of a Collectors angle. Will be revisiting This Series but very pleased with these coins.[quoted image][quoted image]
Very cool!!!
People freak out when the price of silver drops like it has the past few weeks.
They don't understand the commodity.
Forget looking at charts, ratio to gold, past performance. The Market is controlled by large holders of the metal.
When it goes down you would think it would be dramatically cheaper to buy. Not so.
If you watch PM Retailers prices the premiums remain close to the same. Or they pull availability for existing stock.
When certain items become unavailable everyone screams "Silver shortage"
The price creeps back up/ availability returns.
There is no shortage of silver, TONS out there.
If you are waiting for fire-sale prices on silver Eagles it's not going to happen.
They are now numismatic (collectors) coins.
I no longer believe in silver as a viable asset to accumulate with current inflated premiums.
Tired of hearing "to the moon" price predictions from people pushing sales.
Realize that the premiums allow coin dealers to survive and thrive.
Gold, however, is in a different league.
It's simple really, 200 pounds of silver to sell? I don't want tonnage. Thats for truck loads of scrap iron,copper,aluminum and stainless.
China, European Nations, many others are buying gold. I don't know one of them buying silver bricks and storing it unless its for Manufacturing purposes.
JP Morgan owns enough silver bricks to control the price Globally.
As long as the silver price remains manipulated I have enough.
Gold value to weight ratio is more important to me.
Small, transportable, concealable,universally recognized as valuable.
Consistent small purchases over time wins over "Corner the Market" schemes.
Good post phil-lee from the other side of the counter.
A few of my thoughts and facts on the subject:
Silver is used mainly in industrial applications and usually sourced as a byproduct from huge long life and constant base metal mines (lead-zinc ores) or large gold mines. This constant supply buffers demand and not only makes primary silver mines rare but fragile to stand alone financing and pricing issues. Large amounts of high grade ore and impeccable timing/marketing actions are required for successful primary silver mines.
Gold, on the other hand has a much higher 'value to weight ratio' and is much rarer than silver, making it the ideal investment metal. Also, aside from its beauty and long term historical values, gold has very specific, unique and desirable qualities that make it essential in high tech applications (see my earlier post #109 in this thread).
https://pinside.com/pinball/forum/topic/precious-metals-gold-silver-and-everything-else/page/3#post-6140657
The annual combined production of the world's two largest gold producers, Newmont and Barrick falls short of gold's annual industrial/high tech demand requirements (Source World Gold Council). Think strategic here, every leading high tech and MIC (Military Industrial Complex) dependent country MUST have gold. This completely demolishes the 'barbarous relic' meme, as indeed gold is the exact opposite.
Platinum and the PGMs (Platinum Group Metals) are much rarer still than gold or silver and are mined in even fewer countries, South Africa is preeminent, with much smaller amounts from Russia, Zimbabwe, USA and Canada. Mainly used in manufacturing and as vehicle emission catalysts, the PGM's straddle the investment and jewelry applications at 15.6% of total usage in 2019. Their extreme and focused rarity also makes them strategic metals. Internal (and external) problems and unrest in South Africa affecting PGM supplies are key here.
Source: 2019 Platinum Facts: https://www.nrcan.gc.ca/our-natural-resources/minerals-mining/minerals-metals-facts/platinum-facts/20520
World reserves of platinum group metals, by country.
Ranking Country Tonnes Percentage of total
1 South Africa 63,000 90.9%
2 Russia 3,900 5.6%
3 Zimbabwe 1,200 1.7%
4 United States 900 1.3%
5 Canada 310 0.4%
- Other countries N/A N/A
Total 69,310 100.0%
PGM's Global Uses (resized).pngWorld PGM production (resized).pngWorld Production of PGM's + Recycling (resized).pngWorld Supply of PGM's by Source (resized).pnghttps://cdn.jmbullion.com/wp-content/uploads/2017/04/who-owns-the-most-silver-bullion-today-image-4-e1492548619938.jpg
Thanks for the comprehensive charts!
A companion Chart illustrating JP Morgan silver holdings.
What would you rather have?
2 each 1 Oz American silver Eagle type 1 OR
1 gram of gold
Your input will help. Thanks.
Quoted from phil-lee:What would you rather have?
2 each 1 Oz American silver Eagle type 1 OR
1 gram of gold
Your input will help. Thanks.
i would personally go for the Silver Eagles. More readily identifiable in SHTF scenario and I suspect more sellable/tradeable.
1 week later
I appreciate your response, the American silver and gold offerings have a strong following.
The reality is anything from the major mints is recognizable. Most everyone knows a Maple,
Krugerrand or Brittania. The Perth Mint in Australia continues to produce coins and bullion in
a class of their own.
999 or 999.9 silver or gold will always be in demand and liquid. If it's on the coin and can be verified
it will sell, no matter the mint.
Silver rounds? Some of these are gaining street cred, Buffaloes, Sunshine Mint, Apmex are a few examples.
Foreign buyers are starting to snub the American Eagle. Not pure enough, too expensive (with premiums)
I personally do not like the design of the Type-2 Eagle silver and won't buy any at this time.
Do have a platinum 1/10 coming (pictures when it arrives) along with a Perth Swan and Tiger.
Stack a little at at time.
Stack what you can afford.
Never borrow money to purchase precious metals.
Thought I was done with silver.
Took advantage of lower spot to snag a couple Perth Mint offerings.
The Swan, Kookaburra and the 2022 Tiger have higher premiums then the lowly Kangaroo, but are much higher quality.
They also enjoy limited numbers of coins minted.
In a nutshell, they are collectable numismatic coins whose value should grow with time.
IMG_2374 (resized).jpg
Find it interesting the 1/10 Oz Platinum Kook has a value of 15 dollars, where the much larger silver coins are a dollar.
Will be collecting more Platinum in the coming Months.
IMG_2379 (resized).JPG
It is near impossible to capture the beauty of these coins, sorry for the shoddy photos.
Really like Perth stuff, no milk spots, comes in capsules and the premium coins look almost proof-like.
Just another bad picture that shows the Tiger a little better.
IMG_2377 (resized).jpgIMG_2383 (resized).JPGThis is all FYI. I subscribe to a stock site lead by Avi Gilburt. He and other traders are Metal investors and follow the “Momentum” of the metals market. But keep in mind they are not Perma Bulls. He called a pull back in metals and miners a month ago and I was going to post it here but didn’t know what reaction I would get so didn’t. So sorry but dip wasn’t that bad. Anyway metals got healthier recently and I will post you some updates. The view is Silver not Gold will lead the way up over the short and mid term. May get a little pullback on SLV and that will be lowest price for a while. This is his “highly possible” view and keep in mind few things are “highly probable” with the markets. I don’t buy metals myself but added back miners SILV and NEM after selling them back in mid June. Here is a view from a long time metals trader on GLD and SLV, so not the metals themselves but the trusts. Once again - all FYI. I wish you well.
Edit - there is some “chart talk” with levels ABC 123 etc
875B614D-D09A-4F71-B8B6-4628C836AD50 (resized).jpegA6190D05-9969-4B12-BFD3-8A741A158066 (resized).jpeg
"53.62 by late Summer early Fall 2023."
Countries have been formed, prospered,and destroyed in lesser time frames.
Thanks for the information!
Current conditions with possible unforeseen event probability high prevent me from looking that far into the future.
Quoted from pinnyheadhead:But keep in mind they are not Perma Bulls.
Permabulls are a real problem in the PM industry. Everyone in the industry seems to be one to some extent, which I get due to all the BS it takes to keep the fiat currency ship afloat.
Quoted from TigerLaw:Permabulls are a real problem in the PM industry. Everyone in the industry seems to be one to some extent, which I get due to all the BS it takes to keep the fiat currency ship afloat.
This is correct. Best one can do is get a plan and adjust or pivot as needed. Don’t just stick with things trying to prove you were right. A great grown up investor realized they are wrong and learns more from their mistakes than they do on their wins. That is called growth. And sure Metals do well at certain times yes but not all the time.
The person I subscribe to Avi Gilbert follows the “Elliott wave” method of trading thinks stocks will do very well for 2-3 years with SaP hitting 6000 then a major pullback will come. Things will go Steady back up and then 2030’s will be an ugh decade. Will metals be the holding to have during the stock downtime? Real Estate, commodities….crypto?? He is not sure but will follow closely and pivot and said at some point in next 2-3 years he will be 80% plus out of stocks and will likely have a lot of cash divided up in FDIC insured accounts at banks. Hmmmm not sure if that will come, but I do like how he is a stock bull, like now, a bear, where he feels this stock market will end badly in 2-3 years and worse later 2030’s and he owns and follows other investments like PM’s.
His service is expansive at $100 a month but gives free articles on Seeking Alpha and mentions metals from time to time. Here was his August update. I am sticking with his service and daily updates and blog until he fails me. He says he is right 70% of the time and higher over a longer term period. He helped me do very well in 2020 being a huge stock bull, so I subscribed. But I hope you can open and read his free articles. It’s all you really need.
Once again all FYI. You have to do what works for you.
https://seekingalpha.com/article/4451947-sentiment-speaks-dangerous-position-if-you-are-bullish-gold
I'm bullish on Platinum. Increased 56 bucks an Oz.today
Platinum is a sleeper metal with great upside potential.
There is a buzz going on about Platinum right now, probably started with the 1 trillion dollar coin rumors.
What will sustain it is important uses in hydrogen cell- fuel engines.
Whether it drops tomorrow or not shopping for more, looking at 5 gram bars.
Just an insight from me, take from it what you will. I had some gold bullion coins to sell and was told by a bullion buyer in Boston, that spot -10% is the starting point for an offer from him. He said it costs 10% to sell on ebay so that affects the whole market. I did not sell to him. Maybe putting your money in a silver fund is the better option than physically owning the metal for this reason, in that case you bypass this 10% issue.
Quoted from KozMckPinball:Just an insight from me, take from it what you will. I had some gold bullion coins to sell and was told by a bullion buyer in Boston, that spot -10% is the starting point for an offer from him. He said it costs 10% to sell on ebay so that affects the whole market. I did not sell to him. Maybe putting your money in a silver fund is the better option than physically owning the metal for this reason, in that case you bypass this 10% issue.
I can pretty much guarantee you that dude was not buying bullion at 10 back to sell on ebay.
That sounds like a bullshit story to buy your gold at back of melt.
Even if its total shit scrap gold thats going to the refinery to get melted you can get better than 90%.
Honestly the problems is this.
A honest dealer that is capitalized well will pay you very close on bullion.
A lot of small time brick and mortar business will pay way less, especially so if they are under capitalized.
For instance right now gold is 1796 an ounce.
At 10% back, thats roughly 1616 an ounce, which is way too little.
A good dealer ought to be paying you just a few point back, but some people don't want to lay out 1700+ to make a few percent.
The retail coin shop down the street from my office pays 96% for scrap bullshit (total crap) because he can get 98% by shipping it to the refinery to be made into bars (working off making 2%).
Okay. This is my first post in this topic. I want to purchase gold. Not too interested in coins. Albeit they are pretty I'm more interested in bullion. Fractional gram pieces is where I think I want to start. Is this a bad start to a gold horde?
so many options
1/3 gram
1 gram
5 gram
10 gram
20 gram
1 oz. etc.....
It would also be nice to not get taxed on the monies spent on this investment. I've already been taxed once on this money and don't want to get taxed on it again if I can help it. I know there are gold IRA's but a brief look at them looks very fee heavy and slightly complicated.
Another option is to pay the sales tax and buy gold on eBay of all places.
Anyway...........curious what my options are for not being taxed on gold purchases and where I should make my first purchases of gold. I am in Florida and online purchases are now taxable. It looks like there are a bunch of loopholes and legal options for not being taxed on bullion and coin purchases if they exceed $500 in a purchase though. Not sure what route I should start on for this foray into the realm of owning gold but trust that Pinside encompasses many good people that might be able to point me in the right direction.
Any starting suggestions greatly appreciated. Thanks
Quoted from lifefloat:Okay. This is my first post in this topic. I want to purchase gold. Not too interested in coins. Albeit they are pretty I'm more interested in bullion. Fractional gram pieces is where I think I want to start. Is this a bad start to a gold horde?
so many options
1/3 gram
1 gram
5 gram
10 gram
20 gram
1 oz. etc.....
It would also be nice to not get taxed on the monies spent on this investment. I've already been taxed once on this money and don't want to get taxed on it again if I can help it. I know there are gold IRA's but a brief look at them looks very fee heavy and slightly complicated.
Another option is to pay the sales tax and buy gold on eBay of all places.
Anyway...........curious what my options are for not being taxed on gold purchases and where I should make my first purchases of gold. I am in Florida and online purchases are now taxable. It looks like there are a bunch of loopholes and legal options for not being taxed on bullion and coin purchases if they exceed $500 in a purchase though. Not sure what route I should start on for this foray into the realm of owning gold but trust that Pinside encompasses many good people that might be able to point me in the right direction.
Any starting suggestions greatly appreciated. Thanks
Hi there. Im new to the thread. Im also in Florida and have a coin/bullion shop. Just to clarify the tax rule.... There is no sales tax on the purchase of US Coins (eagles/buffalos/ etc) or any bullion purchases (Bars/foreign bullion coins) over $500 in one transaction. Ebay doesnt really follow this rule to well but any local dealer should know this.
As far as a bit of advice... Generally speaking, your best investments in gold will be larger pieces. 1 oz pieces is the sweetspot in my opinion. This is because smaller products carry a bigger premium. For example, a 1 gram bar is going to cost you a much higher percentage over spot than say a 1 oz bar. My biggest selling products are eagles, buffalos, maples and bars. I know people value having smaller pieces of precious metals, but it does end up costing you. Theres a cool product out there called a valcambi combi bar though if you want to try to get the best of both worlds. They have them in different sizes, like 20gr, 50 gr, 100 gr. Its basically a big flat bar that has 1 gram perforations and the premiums are much more down to earth. I just priced some out just now on a website and buying 1 gram bars costs you 75-80 a gram, where as if you can make the move to the 50x1gram bar youre down to $62 a gram.
Gold in an IRA doesnt make too much sense to me. I know a lot of people go down that road but to me, precious metals that you dont physically own kind of contradict the point. I do play with a few etfs and mining stocks though to get exposure in the stock market sometimes though.
Happy to answer any basic questions if you want to pm me.
Quoted from KozMckPinball:Just an insight from me, take from it what you will. I had some gold bullion coins to sell and was told by a bullion buyer in Boston, that spot -10% is the starting point for an offer from him. He said it costs 10% to sell on ebay so that affects the whole market. I did not sell to him. Maybe putting your money in a silver fund is the better option than physically owning the metal for this reason, in that case you bypass this 10% issue.
That guy is full of crap. There are plenty of reputable dealers who can pay close to spot or over spot on different bullion products.
I like the Credit Suisse bars, others prefer PAMP or Apmex. As long as its from a reputable Dealer even the Secondary Market stuff is fine. These have the Assay Certification and fit easily in a wallet. IMG_2335 (resized).JPGIMG_2385 (resized).JPG
As far as size, Marker D is correct, 1Oz is a better price for the amount you get.
Depends on what your goals are. I like fractional even with the higher premiums. If you are not flush with cash purchasing a 2 gram or a 5 gram won't put the rent in jeopardy.
Also if in the future goes up to say 3000 dollars? A 1 ounce coin may be a little to difficult to move outside of a PM Dealer.
1/2 Oz is the largest I want to hold right now.
The best gold purchase is the one you can afford.
Quoted from phil-lee:The best gold purchase is the one you can afford.
This right here^^. Also, try not to buy with money that you can see yourself needing in the near future. The premiums will eat you up in the short term. I hate seeing people having to sell metals they recently bought to cover expenses, because you generally lose the premium if you need to sell to a dealer. Physical metals should be a long term mind set in my opinion.
Also, to double down on what they said. Buy from a reputable dealer. Just like most things, if its too good to be true, it likely is. There is definitely lots of fake product out there. Id avoid craigslist and similar spots unless you REALLY know what youre doing. Ive had fake bars come in that would have fooled me if I didnt have testing devices.
Quoted from MarklarD:Hi there. Im new to the thread. Im also in Florida and have a coin/bullion shop. Just to clarify the tax rule.... There is no sales tax on the purchase of US Coins (eagles/buffalos/ etc) or any bullion purchases (Bars/foreign bullion coins) over $500 in one transaction. Ebay doesnt really follow this rule to well but any local dealer should know this.
As far as a bit of advice... Generally speaking, your best investments in gold will be larger pieces. 1 oz pieces is the sweetspot in my opinion. This is because smaller products carry a bigger premium. For example, a 1 gram bar is going to cost you a much higher percentage over spot than say a 1 oz bar. My biggest selling products are eagles, buffalos, maples and bars. I know people value having smaller pieces of precious metals, but it does end up costing you. Theres a cool product out there called a valcambi combi bar though if you want to try to get the best of both worlds. They have them in different sizes, like 20gr, 50 gr, 100 gr. Its basically a big flat bar that has 1 gram perforations and the premiums are much more down to earth. I just priced some out just now on a website and buying 1 gram bars costs you 75-80 a gram, where as if you can make the move to the 50x1gram bar youre down to $62 a gram.
Gold in an IRA doesnt make too much sense to me. I know a lot of people go down that road but to me, precious metals that you dont physically own kind of contradict the point. I do play with a few etfs and mining stocks though to get exposure in the stock market sometimes though.
Happy to answer any basic questions if you want to pm me.
Cool man, welcome to the thread.
Great couple of first posts.
Do you do any of the major coin shows?
Maybe the FUN show in Florida?
There’s a small group of us that try to go out and play pinball in different cities at least one night whenever we’re on the road for a show.
For instance every time we go to the FUN show in Florida we pile into an Uber and go hit up The Pinball Lounge or when we do the Long Beach show we go to Eighty Two or Ayce Gogi.
Quoted from MarklarD:Physical metals should be a long term mind set in my opinion.
KEY POINT
The reason I don't mind premiums is a belief the metals I purchase will go up in value.
The paper PM Market cannot keep prices down or fixed long term, though they have done a good job so far.
My stack is going in to a coin collection for two little girls, 2 and 4.
Not sure I will be here when they sell them but want to give the maximum "WOW" factor when they do.
Why I'm still tempted by certain silver offerings. Gold will always be.. golden.
Platinum? Speculation.
All long term.
Quoted from Coindork:Cool man, welcome to the thread.
Great couple of first posts.
Do you do any of the major coin shows?
Maybe the FUN show in Florida?
There’s a small group of us that try to go out and play pinball in different cities at least one night whenever we’re on the road for a show.
For instance every time we go to the FUN show in Florida we pile into an Uber and go hit up The Pinball Lounge or when we do the Long Beach show we go to Eighty Two or Ayce Gogi.
Ive been to the Fun show several times, but mainly to walk it, not set up. Im pretty tied down to my shop most of the time and kids make it tough too.
Ive been wanting to get up to some of those Orlando pinball rooms lately. Havent made the trip up there from South Florida yet.
Will be heading that way for Freeplay though 
Quoted from phil-lee:KEY POINT
The reason I don't mind premiums is a belief the metals I purchase will go up in value.
The paper PM Market cannot keep prices down or fixed long term, though they have done a good job so far.
My stack is going in to a coin collection for two little girls, 2 and 4.
Not sure I will be here when they sell them but want to give the maximum "WOW" factor when they do.
Why I'm still tempted by certain silver offerings. Gold will always be.. golden.
Platinum? Speculation.
All long term.
I can get behind a lot of that sentiment. Whatever is going on with the papermaker right now is pretty ridiculous. Demand is through the roof, supply is spotty, premiums are much higher than usual, and yet gold and silver have been trending down most of the last year. Something has got to give though.
I mainly trade gold and silver, but have had a little extra buzz about people wanting platinum the past couple months. It is the wild card since its uses are more industrial; but people like to look at how much higher it was in the past compared to now.
1 week later
Something lit a fire under gold and silvers ass.
Perhaps Folks buying metals for Christmas gifts.
Giving 1/2 ounce silver to the younger kids this year.
Not sure how sustainable these price hikes are. Bears watching.
Just got a new silver coin.
First of its kind
It’s 1 ounce .999 silver also loaded with .01 Eth and an NFT.
Pretty rare, mint of 200.
https://opensea.io/assets/0x09568688e4023e5d0c066dd171d678a97c72836d/1
8DD83C57-927E-4EA0-B48E-B142D32F9E6B.jpegA little rant here...
The Us Mint re-issued Morgan and Peace silver dollars this year.
Collectors are now receiving these offerings and Posting videos.
First, in my opinion they were overpriced, for 80 bucks I can purchase a good example of the real thing.
Second, Mint mark Carson City (CC) dollars are fake, since they were not minted at the now defunct Carson City Mint.
Third, the actual Bullion value is around 26 bucks.
They were hoping the collectible value would make up for all of these shortcomings.
Others saw a flip opportunity to make some fast cash.
As a collector, a stacker, I do not care for these coins. I see no inherent value and predict they will become a footnote instead of a lucrative item.
The pre-sale price has dropped significantly and will continue to drop.
You can't force collectability, it happens naturally.
Quoted from Pdxmonkey:Just got a new silver coin.
First of its kind
It’s 1 ounce .999 silver also loaded with .01 Eth and an NFT.
Pretty rare, mint of 200.
https://opensea.io/assets/0x09568688e4023e5d0c066dd171d678a97c72836d/1[quoted image]
A very interesting coin. Combining the best of both Worlds. Wonder if coins like these will become the norm in the future?
Is there a similar coin for Bitcoin? Thanks!
Yeah there’s a several Btc coins
Casascius coins are the most known but they stopped making them awhile ago. They carry quite the premium.
Lealana and CryptoImperator are also well regarded. Kialara aren’t coins but really cool.
Some are bad actors like Titans are not good.
55BF9E9A-331D-42AF-B50C-ED637C3CE2ED (resized).jpegCECCB2A7-EFB4-4103-9654-B102B12C6D1E (resized).jpeg
Yes that one coin on the right has a loaded value of about 1.5 million.
Quoted from phil-lee:Something lit a fire under gold and silvers ass.
Perhaps Folks buying metals for Christmas gifts.
Giving 1/2 ounce silver to the younger kids this year.
Not sure how sustainable these price hikes are. Bears watching.
Hey Phil. That is what I was trying to show you in my post above. I understand SLV and GLD in the market are not real assets you own but they run and rhyme with the current price of gold and silver. Once again, looking at charts from market followers of SLV and GLD from a couple of weeks ago, they saw them doing a little move up, a slight pull back which could be the lowest price we will see in a while and then up higher over the next year or two with silver leading the way. The waves could stall and change but that is what they are now. And all of this is based on possibilities and probabilities - things change, nothing is definite, which is annoying LOL. So anyway roughly gold goes down like 3-4% and then bumps up 10% from there early 2020 or so.
I just have a couple of gold coins, my Dad buys though, but investing wise for myself mentioned above I added a double position of miner SILV a couple of weeks ago at $7.15 recommended by the same metal charts guy above (which I am holding mid term), sold NEM for a small profit and bought a chunk of call options on SLV at $30 for 2023, to benefit if silver does have the run folks are forecasting.
So if I don’t buy the real assets metals by the ounce why am I here? Just to mention that the chart guys I follow are forecasting a bit of a metals rally could be taking shape over the next year or so with silver leading the way. Letting you know what just came up on the “investor” side. I put my money where my mouth is buying these positions. If I am incorrect metals go down over the next year or so and I lose money. Will see how it plays out. And all just FYI if you interested.
And don’t worry I won’t post here all the time - Outsider
Take care Phil. Wish you well
And that leads me to the question being curious - do metals collectors hope for dips to buy more or want metals to go higher so there collection value is higher? Is this a type of question like “do you want you pins to go up, but if they do go up the price rises to add a new pin so it’s give and take?”
I am genuinely curious. Thanks
Quoted from pinnyheadhead:And that leads me to the question being curious - do metals collectors hope for dips to buy more or want metals to go higher so there collection value is higher? Is this a type of question like “do you want you pins to go up, but if they do go up the price rises to add a new pin so it’s give and take?”
I am genuinely curious. Thanks
Well, you always want to buy things that are in demand…and if gold was stagnant for ten years like it was in the $250-$350 an ounce range it wouldn’t be a particularly exciting investment. That said, I think most try and buy the dips just like the digital currency people. You never want to try and catch a falling knife but it’s easier for me to buy it when it’s 10% below a recent high than at its all time high… Just speaking for myself of course, but gold isn’t really a momentum purchase for most…
Quoted from TigerLaw:Well, you always want to buy things that are in demand…and if gold was stagnant for ten years like it was in the $250-$350 an ounce range it wouldn’t be a particularly exciting investment. That said, I think most try and buy the dips just like the digital currency people. You never want to try and catch a falling knife but it’s easier for me to buy it when it’s 10% below a recent high than at its all time high… Just speaking for myself of course, but gold isn’t really a momentum purchase for most…
Ok got it. It seems folks on this thread seem to be more “accumulation” mode here. And yes kind of like the crypto people, but different.
Thanks
Quoted from pinnyheadhead:Ok got it. It seems folks on this thread seem to be more “accumulation” mode here. And yes kind of like the crypto people, but different.
Thanks
Some stackers want the prices to go up so they can liquidate current holdings. Enough people do this and the supply blows up and the price goes back down.
Others want the price to go down so they can accumulate more, the "Bulk Bullion" Folks.
I simply want a certain amount of PM so if the Dollar fails, or comes close to failing resulting in catastrophic inflation I have another means of paying for essentials.
Good reporting recently where people in Venezuela are shaving off Gold to pay for Motel rooms and haircuts.
A Room goes for half a gram (about 45 bucks US).
My motivations are drastic and not mainstream.
If all else fails I will have a great coin collection and store of wealth for my Granddaughters.
A Trend that was in the background a few Months ago but gaining steam is "do not buy coins that feature the Queen".
First it was Buyers in Europe, India, parts of the Middle East insisting on 4-nines purity(24 Kt) in their coin and Bar purchases. American Eagles and Kruggerands were out,among others.
Then it was the insistence for 4-Nines Silver. Canadian Maples and Perth Mint Kangaroos are examples of 999.9.
A sizable portion of PM investors do not want to support National Mint offerings featuring the Queen.
Their reasons for this preference strays in to Politics.
I like Perth Mint coins and Maple leafs as well as Brittanias.
All feature various renditions of the Queen.
So what precious metal gold and silver coin offered currently in the World is 4-nine purity and doesn't feature the Queen?
Not much choice. The Austria Philharmonic and Bavarian Mint Elephant come to mind, any others?
Such a coin (or bar) could become the next preferred bullion offering.
A changing World and younger Investor that doesn't follow the status quo will change Traditions in the PM Market.
Quoted from pinnyheadhead:And don’t worry I won’t post here all the time - Outsider
Your input is always welcome! I'm just a duffer trained by a OG Miami Beach gold picker.
You and several others are the Experts. The richest 2 Guys I ever knew carried 10,000 cash in their wallet or front pocket at all times. One a junk Dealer, the other a long haul truck driver.
You never know about Folks. Don't ever judge.
Howard Hughes drove around the Desert in an old Chevy and stinky clothes wearing a beard.
Sam Walton was near the same with his Station Wagon around Arkansas.
Everyone here (I think) is looking for tips to increase wealth.
Quoted from pinnyheadhead:And that leads me to the question being curious - do metals collectors hope for dips to buy more or want metals to go higher so there collection value is higher? Is this a type of question like “do you want you pins to go up, but if they do go up the price rises to add a new pin so it’s give and take?”
I am genuinely curious. Thanks
I can tell you that as a dealer, I don’t care which way it moves as long as it’s not stagnant.
I like to see metals move one direction or the other (doesn’t matter).
When there is movement, more people are either buying or selling.
When the price is stagnant, as a generalization so are the buyers.
I don’t really deal in bullion type material, but it does directly effect the rare coin market as the are related on some levels so I follow the metals pretty closely.
Quoted from Coindork:I can tell you that as a dealer, I don’t care which way it moves as long as it’s not stagnant.
I like to see metals move one direction or the other (doesn’t matter).
When there is movement, more people are either buying or selling.
When the price is stagnant, as a generalization so are the buyers.
I don’t really deal in bullion type material, but it does directly effect the rare coin market as the are related on some levels so I follow the metals pretty closely.
Makes sense. When the market goes up you are likely getting more business buying. As of now the sentiment waves are pointing you will be busier next year and 2023 then the last year or so.
Can I ask if you do much with Silver? It’s obviously lower priced than gold which would seem a lot less worth it to deal with but what if we do see a good rise in it over the next year or so?
Thanks for the reply
Is this the article about Venezuela?
https://finance.yahoo.com/news/venezuelans-break-off-flakes-gold-120000884.html
Very interesting read. Assuming the spot price of gold is $1800 per ounce, let's do a little math. For a haircut, it's 1/8 of a gram. So, there are about 31.1 grams in a Troy ounce of gold. $1800 / 248.8 = $7.23. That's spot on for a haircut, actually on the cheaper side. Now, what about Goldbacks in Venezuela? The problem is the premiums are so high you will end up losing a lot during the exchange, if the shop owners don't recognize the "standard" premiums on the gold bills.
If a Goldback is worth $3.77, but they only have $1.80 worth of gold in each one, will that same haircut cost you 1.92 Goldbacks (basically 2) or 4 Goldbacks? If premiums don't matter to Venezuelan merchants, using Goldbacks so you don't have to shave fractions of grams could potentially cost you twice as much. Without an intermediate currency like silver to make change, that would be a deal breaker for small transactions.
However, the premiums come down as you buy larger bills...
Quoted from Crash:Is this the article about Venezuela?
https://finance.yahoo.com/news/venezuelans-break-off-flakes-gold-120000884.html
Very interesting read. Assuming the spot price of gold is $1800 per ounce, let's do a little math. For a haircut, it's 1/8 of a gram. So, there are about 31.1 grams in a Troy ounce of gold. $1800 / 248.8 = $7.23. That's spot on for a haircut, actually on the cheaper side. Now, what about Goldbacks in Venezuela? The problem is the premiums are so high you will end up losing a lot during the exchange, if the shop owners don't recognize the "standard" premiums on the gold bills.
If a Goldback is worth $3.77, but they only have $1.80 worth of gold in each one, will that same haircut cost you 1.92 Goldbacks (basically 2) or 4 Goldbacks? If premiums don't matter to Venezuelan merchants, using Goldbacks so you don't have to shave fractions of grams could potentially cost you twice as much. Without an intermediate currency like silver to make change, that would be a deal breaker for small transactions.
However, the premiums come down as you buy larger bills...
Venezuela has the advantage of natural gold deposits nearby, so the people can go out and pan it or gather by other means.
Goldbricks are a good idea. Unfortunately the Citizens have had so many versions of their currency issued the past few years they no longer trust any paper money except the dollar.
However all it would take is a Local using them and explaining the advantages to possibly take off.
If there is gold in the creeks I'm going to be out there everyday!
If the people of Venezuela had access to Goldbacks and were educated on what they are (actual gold deposited on sheets of polymer) it might revolutionize their trade.
I bought a few ounces of gold today rather than the Cactus Canyon remake. Hopefully it was the right choice for the long run.
Not as much fun to play with though for sure. New game looks pretty amazing.
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