The same guy made a video 8 months ago when the melt price of a nickel was 108% face value. That video from 3 months ago showed it at 120%. Now it's about 121%. Nickels are appreciating fast.
(Topic ID: 286786)
Dunwoody, GA
Quoted from Crash:The same guy made a video 8 months ago when the melt price of a nickel was 108% face value. That video from 3 months ago showed it at 120%. Now it's about 121%. Nickels are appreciating fast.
Fascinating.
Yeah I was thinking copper prices would be transitory (where have we heard that word before?) and would go back down below $4/lb before the end of the year. Seems like the nickel broke its face value just this past year. I expect nickel shortages (as far of the coins) as people pull them out of circulation for this reason (Gresham's Law).
Quoted from Crash:I just realized something interesting about nickels... check the 11:25 mark.
This has been the case with earlier dated pennies for years (more metallic value than face value).
A couple issue with that line of thinking in regards to nickels though.
1) alloyed metals do not trade at anywhere near the melt value of refined metals. You would have to refine them in order for them to actually be worth the metallic content, which may prove to be cost prohibitive. Things like meteorites often have precious metal as trace elements in them (gold, platinum, palladium, iridium etc) but it would cost more to extract those metals and the meteorites as an object sell for far below the melt value of the medals imbedded in them. Something like a multi metal assay on these would be expensive as hell.
2) It’s not legal to melt or deface Federally issued coinage.
If you did find a cost effective way to refine them, you’re still breaking the law.
3) Good luck accumulating a large enough quantity to do this on a large enough scale to make any real money doing it for the time and cost involved. For the effort involved, cost of refining, storage space etc, you might as well scavenge though gas station trash cans for recyclable aluminum cans. I guess it depends on how you value your time.
Quoted from hiker2099:I stack copper…. J/K. I just wanted to break the tension.
Thanks. May I ask what J/K is.
Quoted from hiker2099:I think it is only a matter of time before a world currency.
And a totally digital one at that. It won’t be one of the existing ones either, it’ll one created and owned exclusively by the governments that band together to form it. Of course, the issue there is the governments are now accustomed to simply printing money…that would be harder to do if they switched to a digital currency.
Quoted from TigerLaw:And a totally digital one at that. It won’t be one of the existing ones either, it’ll one created and owned exclusively by the governments that band together to form it. Of course, the issue there is the governments are now accustomed to simply printing money…that would be harder to do if they switched to a digital currency.
Good thing we’re past Y2K because I would have loved to see the governments try and convince the world that the digital currency accidentally reset so there’s no debt LOL.
Quoted from pinnyheadhead:Fascinating.
Quoted from pinnyheadhead:I just follow and subscribe to folks because I don’t use an expert to manage my money.
Brother, you don't need to follow anyone or pay anyone by the Month. I can tell you are a Leader, just do it.
I am sorry you took me wrong. I apologize if I caused you any grief.
You are the Expert. Guarantee you could teach me many things concerning this crazy Business.
Quoted from Coindork:2) It’s not legal to melt or deface Federally issued coinage.
Always wondered if there is an exemption for these penny flatteners you see at Amusement Parks. Some place a logo in the center of the copper.
Quoted from phil-lee:Always wondered if there is an exemption for these penny flatteners you see at Amusement Parks. Some place a logo in the center of the copper.
I also always wondered about that.
And until recently I have always saved all my pennies that were dated 1981 or older, because they are high copper content.
(I am still saving them, just not looking at my current pennies I get in change at the moment).
I always thought after we quit using silver for coins after 1964 and all of those coins even common ones sell for more than face because of their silver content, well, maybe 1981 and older pennies may someday follow suit to a extent.
And I don't think anyone is melting the silver coins, they are just traded along with the price of silver.
So I would think it would be possible that someday copper pennies could be traded the same way.
And I also have the wheat pennies and S mint marks separated also.
I used to look closely at all of my change, and the coolest thing I ever found was a 1987 P dime, that on the back it said ONE DIM (the E is totally missing).
And while on the subject of modern coins, I have a lot of Eisenhower dollars and 1965 and newer Kennedy halves I wish I could get something over face value for.
(and sometimes I do, sometimes I leave some of those as tips when I dine out, and stand outside and look in the window at the 20 year old that has no clue what that money is that they were tipped with). (2 dollar bills are fun also when leaving a tip).
With currency I used to save all of the star notes, and I had a lot of them, but years ago I needed some money to make some more money so I spent them on some inventory I needed while I was short on funds.
I know I need to start looking at all of that again, it can be like a free winning lottery ticket if I find the right stuff.
Like a note that is all 7's for the serial number. Luck up and find one of those and that can be traded for a whole lot of gold or pinball machines.
Quoted from phil-lee:Always wondered if there is an exemption for these penny flatteners you see at Amusement Parks. Some place a logo in the center of the copper.
Here’s the thing I never really understood about that sort of scenario.
Let’s say you went out and started a bonfire with a million dollars in crisp new $100 dollar bills. Technically your not supposed to do that, but the real question is why would the government give a crap if you went out and destroyed money. If it’s destroyed and can never be redeemed, it then becomes debt that they never have to pay back and are no longer accountable for. They can just print more.
I would say as long as the government can "pay" it's debts by printing money I doubt they would care that much if a common person destroys a small amount of money that happens to trickle down to them (definitely not advocating this).
I agree with nickels not being a good investment at the moment. I'm not going out of my way to hunt for them, just saving them from spare change. I think it would make more sense in an economic collapse or recession scenario due to the metal contents. 90% silver coins and 95% copper pennies are also alloys, yet people are still pulling them out of the money supply to set aside "just in case" because they are not paper and have some small amount of physical value as metals. Worst case scenario I still have nickels I can spend on something, even if it's not much as inflation increases over the long term.
Turkey is a good example of what can (will? ) happen in the US.
Currency Lire has dropped 50% in value.
Inflation is rampant. Workers seek to convert their paychecks in to other currencies as well as gold.
President passes law against hoarding. Rumoured confiscation of gold soon.
It is said the Leader is setting on millions in gold bars to use should he need to move quickly.
Local produce/bread and other items are being paid for in gold and silver. Local Towns commerce developing alternative payment means separate from the Official Government.
Barter commonplace.
Quoted from phil-lee:Turkey is a good example of what can (will? ) happen in the US.
Currency Lire has dropped 50% in value.
Inflation is rampant. Workers seek to convert their paychecks in to other currencies as well as gold.
President passes law against hoarding. Rumoured confiscation of gold soon.
Crypto outlawed.
It is said the Leader is setting on millions in gold bars to use should he need to move quickly.
Local produce/bread and other items are being paid for in gold and silver. Local Towns commerce developing alternative payment means separate from the Official Government.
Barter commonplace.
Not quite accurate
There is a massive move away from silver bullion underway.
Many who purchased during the so-called "Silver Squeeze" regret the investment they put into silver.
The latest drop in the price and continued manipulation took the wind from their sails. These Buyers were evidently not intent on holding long but expected the price to rise for a quick profit.
I stopped purchasing silver a few Months ago, but its still tempting.
So everybody is singing golds praises now. The same scam can happen with gold too. High premiums, artificial shortages created through rumor.
Glad I was able to accumulate a few ounces this year to go with what I already had. I do expect gold to go up in 2022.
At which time I will stop buying.
Gold, silver, platinum, its all a 10 year hold game.
Going to Crash' advice and return to copper salvage.
Where I used to sell whole motors and insulated wire now its worth cleaning.
Copper is the new silver in many ways, the price is going UP.
Could copper actually pass silver in price if current trends/demand continues?. Yeah, sounds crazy.
Won't happen since the same manipulation by large holders will be put in to play.
Will Post a photo of my last gold purchase for 2021 Christmas. Wanted a few things to open up under the tree.
Most of the silver and a little gold going in a cigar box for the Annual Pinball Tournament prize. I call it The Best of 2021.
One or other of the Parents will win it so the Grandkids get it.
If I beat both of them I'm KEEPING IT. HA HA..
Quoted from Crash:Seriously considering checking curbs next spring for copper bearing appliances to recycle (microwaves, any small appliances with motors or transformers).
I too noticed that about the "Wall Street Silver" craze on Reddit. All these entitled young kids who buy all this silver then sell it at a loss when the spot price drops $0.50. Which causes further gluts in the market and prices to drop, more selloffs, etc. The real winners are the people that buy and hold for 10, 20, 30 years, realizing inflation and industrial demand for these metals will both continue to rise. Silver's still on sale!
Quoted from Crash:I too noticed that about the "Wall Street Silver" craze on Reddit. All these entitled young kids who buy all this silver then sell it at a loss when the spot price drops $0.50. Which causes further gluts in the market and prices to drop, more selloffs, etc. The real winners are the people that buy and hold for 10, 20, 30 years, realizing inflation and industrial demand for these metals will both continue to rise. Silver's still on sale!
Yeah, noticed your Post on the Inflation thread.
Silver would be on sale if not for these inflated premiums.
They have it marked up to a point they know it will not turn a profit for years,if ever.
Sorry, I have given up on the shiny unless something changes.
If everyone would stop buying for awhile these greedy Exchanges would have to drop premiums.
I am bullish on copper. Like you,taking a second look at electronics.
PSA, evidently microwaves have high voltage capacitors and potentially hazardous materials in the magnetrons. No thanks (for me that is).
Quoted from Crash:PSA, evidently microwaves have high voltage capacitors and potentially hazardous materials in the magnetrons. No thanks (for me that is).
Thanks, never took one apart, don't even use one.
Electric motors are copper hordes. No matter how old or cruddy, the copper inside is good.
Cleaning metal salvage is fun and relaxing.
Pile it up with an idea of like metals inside.
Crack a beer on a boring day with some pliers and tools and start dismantling.
A Guy gave me a small engine pile to haul off. 100 pounds of Cast. 1000 pounds of sheet.
You will not get rich, I promise. Gleaning metals will result in some serious cash if you do it right.
Haul off old Tractors, cars or machinery? May be worth more parting it out, do the Research.
These Folks who want to buy Crypto can knock themselves out.
Tax-free cash from junk is the future, and you hold it in your hand.
I tore down two old ceiling fans and stripped the copper windings. That alone filled up a large jar with a few pounds of #2 copper.
Some interesting thoughts about gold not being the hedge it once was. I am a neophyte when it comes to gold, so thought I would ask those that follow it more than I do their opinions.
I actually know someone at local bank who recently started stacking silver. Several people there are very aware of inflation and what it's doing to our wealth.
Posting from the Bunker tonight with 2022 Predictions and precious metals outlook.
1. Copper through the roof. Not enough supply. Supply shortages. Unprecedented demand. Lack of investment in copper mining. The World has decided to go electric without the necessary supplies of materials and amperage.
2. Germany shutting down nuclear plants. Yet nuclear is the only hope to supply the amperage needed to replace oil for fuel and heating.
3. Uranium price will continue to skyrocket. Again, lack of mining support, supply shortages = unheard of prices. New Plants are under construction, old Plants need non-depleted renewal.
4. Gold is king. Gold will breakout in 2022 to new highs. Shortages will occur. Russia, China will continue to horde more and purchase tons. 3rd World Nations will call back reserves and sue to recoup (Afghanistan, Venezuela.)
5 Silver will continue to be manipulated, with wild price swings. Sell before it kisses 34 an ounce. Start over.
6. Aluminum is being reintroduced as wiring. Remember the aluminum wiring fires of the 70's- 80's? Expect more.
6 Nickel alloys will be explored as an alternate to copper. Expect wild pricing on all conductive metals.
7. Wars, physical and pricing, will be conducted over Lithium.
8. Platinum will increase in price due to the EV surge as long as its successful.
9 Palladium will drop in price as EVs become prevalent. New uses for Palladium will result in wild price swings in 2022.
10. Rhodium will languish due to scarcity.
Dependable gas-engine cars will continue to enjoy high values. Parts availability will be paramount.
Diesel vehicles will skyrocket in value, depending upon Manufacturer. Farm equipment is included.
To be continued .....
Gold is dead?
Seems like a competition between different assets classes has reached a point to where "My Bitcoin is more valuable, gold is dead". Outright hostility between crypto and bullion Buyers.
Wise Investors dabble in both and realize the shortcomings of both gold and crypto.
I will stick with gold in 2022. I don't like crypto, don't trust it for longterm value.
So what is the best gold to buy?
Unless you are a Collector versus a Stacker, stay away from high premium coins and bars.
Purchase the cheapest 24Kt gold coins and bars on the market.
Forget the American gold eagle, it's not pure gold and the premiums are astronomical.
Kruggerands are not pure gold and look like copper in the right light.
Maple Leafs are pure, have security features and high liquidity but again premiums are high.
Right now the cheapest gold coins you can buy are Perth Mint Kangaroos and Austria Philharmonics.
Both are 24Kt and enjoy the lowest premiums.
I have left the semi-collector mindset where I purchase coins that are cool, limited, diverse etc.
All you need is 24kt gold bullion at the cheapest price.
Also, I prefer smaller denomination fractional gold. Smaller 1/10, 1/25 and gram sizes will make it easier to use in a SHTF scenario.
Again, Perth Mint and Philharmonic are the lowest fractional gold available, along with generic gold bars.
Whatever you purchase make sure it is backed by a reputable Seller. Use cash or a check to get the cheapest price.
Quoted from phil-lee:Forget the American gold eagle, it's not pure gold and the premiums are astronomical.
Don't know where you're located, but if you are near me I will sell you American Gold Eagles at no premium.
Also, not sure why you're hung up on the "not pure gold".... There's still a full Troy ounce of gold, plus an extra gram of silver. Think of it as a bonus! 
Quoted from mattosborn:Also, not sure why you're hung up on the "not pure gold".... There's still a full Troy ounce of gold, plus an extra gram of silver. Think of it as a bonus!
I'm not hung up on it. The World Market for gold has increasingly turned against non 24Kt gold coins. There is a trend and even though the American offering still enjoys desirability the premiums along with its alloy could change.
Quoted from mattosborn:I will sell you American Gold Eagles at no premium.
I believe you but statements like this raise flags.
Quoted from mattosborn:Don't know where you're located, but if you are near me I will sell you American Gold Eagles at no premium.
Also, not sure why you're hung up on the "not pure gold".... There's still a full Troy ounce of gold, plus an extra gram of silver. Think of it as a bonus!
What size gold eagles do you have at spot price?
Quoted from pincoin:What size gold eagles do you have at spot price?
1 oz only.
Quoted from phil-lee:I believe you but statements like this raise flags.
Understood. I am not a dealer. I am just an individual like you. If I go to a dealer to sell my coins I'm lucky to get spot price for them. They just turn around and sell them to someone else for $200+ more. They get you coming and going. So if there is a fellow collector that I can trust, why not sell to them and save them a few bucks?
Establishing trust, both ways, is key here though. The transaction has be secure. I do not keep gold on my premises, and any exchange would need to happen at a secure location (like outside the local PD station).
Watching Youtube videos of what people are buying in 2022 and amazed.
Home poured silver bars or poured bars with no pedigree?
Coin Dealer- I can't verify purity. Can't buy them or 25% under spot.
Cool cast or poured silver figurines, pyramids, Icons or idols,etc.
Coin Dealer- Try advertising them to recoup investment, not interested.
When you sell it comes down to bullion price or Numismatic value.
It also more importantly comes down to a Coin Dealer who is willing to purchase your bullion.
I am not including Ebay or other online methods of selling coins.
When you need to sell, now, its either a pawn shop or a precious metals dealer.
If the price of silver were to rise to 50 an ounce there would be a line out the door of people looking to sell.
People would not be buying at these prices, only selling.
The Dealer would quickly be up to his ass in high-priced silver nobody is buying.
Silver Unicorns, Pirates, swords and 50 caliber bullets will not garner a premium price. They may not reach spot price.
I am not purchasing silver coins in 2022.
10 ounce silver bars from a reputable source like Royal Canadian Mint, Engelhard or Apmex possibly.
If you envision possibly needing to sell your silver one day go with trusted sources.
Canadian Maples.
American Silver Eagles.
Royal Mint Brittanias
SA Krugerrands.
Perth Mint Kangaroos.
Mexican silver is expensive but you may recoup the price with the right Buyer.
Same with Perth Mint Swan, Kookaburra and Tigers.
Show up to the Dealer ready to sell with Star Wars, Peanuts, John Wick, "Limited rounds", unique poured bars or coins, foreign silver one-offs, less then 999 fine, or even less then an ounce Pandas and;
Prepare to be shocked, offended and pissed at what the Shop will pay.
Quoted from phil-lee:I am not purchasing silver coins in 2022
I will not be either.
Quoted from phil-lee:If the price of silver were to rise to 50 an ounce there would be a line out the door of people looking to sell
yep...and no buyers
Something else I've noticed, when you buy gold, most dealers will have a buy back price listed. For silver, no buy back price listed. Hmmmmm.....
anyway
I will be buying gold in 2022 though. In fact, there was a tiny dip last week and I picked up a few 1-ounce bars. And if it dips again, I will buy again.
Holding for the long term so I'm confident I'll do okay even with the premiums.
Quoted from phil-lee:Watching Youtube videos of what people are buying in 2022 and amazed.
Home poured silver bars or poured bars with no pedigree?
Coin Dealer- I can't verify purity. Can't buy them or 25% under spot.
Cool cast or poured silver figurines, pyramids, Icons or idols,etc.
Coin Dealer- Try advertising them to recoup investment, not interested.
When you sell it comes down to bullion price or Numismatic value.
It also more importantly comes down to a Coin Dealer who is willing to purchase your bullion.
I am not including Ebay or other online methods of selling coins.
When you need to sell, now, its either a pawn shop or a precious metals dealer.
If the price of silver were to rise to 50 an ounce there would be a line out the door of people looking to sell.
People would not be buying at these prices, only selling.
The Dealer would quickly be up to his ass in high-priced silver nobody is buying.
Silver Unicorns, Pirates, swords and 50 caliber bullets will not garner a premium price. They may not reach spot price.
I am not purchasing silver coins in 2022.
10 ounce silver bars from a reputable source like Royal Canadian Mint, Engelhard or Apmex possibly.
If you envision possibly needing to sell your silver one day go with trusted sources.
Canadian Maples.
American Silver Eagles.
Royal Mint Brittanias
SA Krugerrands.
Perth Mint Kangaroos.
Mexican silver is expensive but you may recoup the price with the right Buyer.
Same with Perth Mint Swan, Kookaburra and Tigers.
Show up to the Dealer ready to sell with Star Wars, Peanuts, John Wick, "Limited rounds", unique poured bars or coins, foreign silver one-offs, less then 999 fine, or even less then an ounce Pandas and;
Prepare to be shocked, offended and pissed at what the Shop will pay.
Agreed and thanks phil-lee, both insightful and well said!
I like most non pure silver (and gold/other metal) objects as interesting works of art but not as investments. Either it's four nines purity in excellent condition from a reputable mint (eg: Maples) for safekeeping as a liquid investment or it's a really good priced art deal or curio I know will be sitting real pretty and forever on my shelf.
My happy hunting grounds for the PM/other metals art stuff are thrift and goodwill shops. From my observations, most people seem to visit these places for cheap used necessities like clothes etc. and leave the art stuff to sit (rightly so as most of it is junk). However, occasionally a few gems pop up and that's why I go there.
The local thrifts are good charities run by kindly older neighbour ladies. I tell them every time my purchases are at giveaway prices and show them the mint or backstamp marks. Always an astonished "We didn't know that!" but to no avail, I'm back two weeks later and with the same revelations and astonishments (usually same older lady too)! Oh well bless them! I just put a few more dollars in the donation box anyways.
Here are a few examples:
1 - Five dollars each, beautifully framed, matted, handmade in Italy with 92.5% silver plate.
2 - Sixteen dollars total, set of four 22K gold plated miniature cups and saucers.
3 - Fifteen dollars, stunning copper tooled sheet and frame of running horses.
2 (resized).JPG3 (resized).JPG5 (resized).JPG6 (resized).JPG7 (resized).JPGThose are nice finds! By no means meant to disregard treasure hunting in all its forms.
I picked up (free) a complete set of Mittertiech Bavaria China with real gold rims.
Used it a couple of Christmas and tried to sell.
Its looking like I can't give it away.
Art like you have is another story. Sometimes it can be really lucrative in normal times. Now? Have no idea.
Miss the normal.
Have a stack of various Art in the back, William Magnum, others more obscure. Snapped them up at great prices.
Seems the new Generation (yeah,old man talking) couldn't care less. They see this stuff as a burden.
I too am starting to see it as a burden so my comments may have grown cynical.
Now, it's like Gold is the last Frontier for some sort of wealth insurance.
I think that will hold as long as Sovereign Nations continue to purchase it. It is rumored China may introduce a digital coin backed by gold.
If they can pull that off all bets are off.
Thanks for sharing!
Quoted from lifefloat:Something else I've noticed, when you buy gold, most dealers will have a buy back price listed. For silver, no buy back price listed. Hmmmmm.....
It's troubling that Independent Coin Dealers and Pawn Shop Owners become the new Bankers when it comes to liquidating PM assets.
There really is no "Official " Buyer.
All of these Dealers have their own standards and pricing. What if they are closed? Or broke?
I envision bartering for value of goods based on a mutually agreed value of gold with pre-identified local Suppliers.
These Guys with all of this myriad silver? They may be able to do the same, it will just be more difficult.
Think Commodities like a pound of coffee or..wait "Pork Bellies.
Gold lends itself better to commodity purchases.
Quoted from phil-lee:Show up to the Dealer ready to sell with Star Wars, Peanuts, John Wick, "Limited rounds", unique poured bars or coins, foreign silver one-offs, less then 999 fine, or even less then an ounce Pandas and;
Prepare to be shocked, offended and pissed at what the Shop will pay.
I'm making about $5 / ounce profit buying the rounds you mention on JM Bullion, SD Bullion, APMEX, Bullionexchanges, etc and immediately flipping them on ebay. Not a get rich quick scheme, but I've sold around 400 ounces since early November. I figure it's a good inflation hedge, and I'll take those $5 bills in the meantime.
Quoted from phil-lee:So what is the best gold to buy?
It seems like Gold Britannia is an excellent buy, it’s four 9s and has the “security” features not found in most bullion coins. It’s also a very beautiful coin.
I visit a lot of coin shops in different states (my job is transportation) and all of the have gold eagles, maples, krugerrand, etc. the two coins that seem to always elude me at these shops are American Buffalo and Britannia. That tells me those two are in high demand and would be easier to sell. One commands a higher premium and the other is on the cheaper side.
Quoted from phil-lee:Now, it's like Gold is the last Frontier for some sort of wealth insurance.
I think that will hold as long as Sovereign Nations continue to purchase it. It is rumored China may introduce a digital coin backed by gold.
If they can pull that off all bets are off.
Yes, gold is very strategic and has always been tied to world geopolitical/financial events but now is especially essential to precision high tech (as previously discussed).
If, as you say, China tips over the financial apple cart with a gold backed currency, one would think preparations are being made on many sides for such a possibility. Surely, those that desire so will see to it that future gold pricing is very strong but stable.
My bottom of the whisky glass guess is the west has a lot of catching up to do vs. the traditional asian affinity for using and stockpiling gold. Interesting events taking place like Poland's recent central bank purchase of gold (protection). Will that be held in London or New York? Paper or digital? How about ransomed and rehypothecated?
Quoted from ManyQuarters:If, as you say, China tips over the financial apple cart with a gold backed currency, one would think preparations are being made on many sides for such a possibility.
The Fed absolutely despises the notion of returning to any gold standard, fiat currency or digital. Seems all these years of being the Reserve currency of the World has made them resistant to backing anything in anything but "God we trust".
I trust God. I do not trust the Fed.
So what if China backs the digital Yuan with gold?
Will they offer digital "Gold Certificates" where the Holder of said currencies can cash out in gold? Very unlikely.
They wish to give the perception their currency is superior, not actually doing anything to make it so.
Quoted from Bud:It seems like Gold Britannia is an excellent buy, it’s four 9s and has the “security” features not found in most bullion coins. It’s also a very beautiful coin.
I visit a lot of coin shops in different states (my job is transportation) and all of the have gold eagles, maples, krugerrand, etc. the two coins that seem to always elude me at these shops are American Buffalo and Britannia. That tells me those two are in high demand and would be easier to sell. One commands a higher premium and the other is on the cheaper side.
Forget "Beauty" for a moment.
You buy a gold coin and one day go to sell it.
The Austrian Philharmonic is a 4-9 gold coin with the lowest premium. When you go to sell you will get spot, no premium.
It's boring, not really collectable or beautiful.
But its pure gold bullion in a recognized form that can be purchased at the lowest price.
It doesn't have the Queen on it either ( I don't have a problem with this and love Perth Mint offerings).
But a lot of Buyers do.
Would I rather have a pile of Gold Eagles, Brittanias, Maples and Swans?
Yeah.
Are you a person trying to get the most pure gold for the lowest price you can easily liqudate if the need arises?
Or are you a coin collector?
Thats the question you should ask before getting in to gold.
Quoted from loneacer:I'm making about $5 / ounce profit buying the rounds you mention on JM Bullion, SD Bullion, APMEX, Bullionexchanges, etc and immediately flipping them on ebay. Not a get rich quick scheme, but I've sold around 400 ounces since early November. I figure it's a good inflation hedge, and I'll take those $5 bills in the meantime.
I hate to be the bearer of bad news but the Jan. 1 enactment of the new IRS rules will kill millions of re-sellers.
Once you reach 600 dollars in sales for a year you are rewarded with a 1099 Form. This treats you as a small Business and opens you up to taxes and scrutiny over your Bank accounts.
This is huge, just how huge is quickly becoming apparent to a lot of Folks who are just trying to earn a little extra income and found a side hustle that works for them.
I was an Ebay seller for 20 years. There is no way I want to be treated like a Business selling old junk I have accumulated over the years.
It's now down to local sales, yard sales, personal sales among Groups, or even donations to reduce tax liability.
It really sucks, study the new law and you will agree.
Quoted from phil-lee:The Austrian Philharmonic is a 4-9 gold coin with the lowest premium. When you go to sell you will get spot, no premium.
I agree, but that’s because it’s a philharmonic, it’s plain and uninspiring. A Britannia is cheaper, it’s beautiful, has security features and inspiring. A Buffalo is always an easier sell and sells above spot. That’s one reason I have not been able to pick up any Buffalos lately, when they come in they go out almost right away. I can pick up the “cheap” gold at any shop, not the case with a Buffalo. Besides, it’s $20 of over a philharmonic on the internet, local shops always have a better deal.
020D3177-8260-4066-A245-6D190D11EA9F (resized).png86A9B5A9-8358-445E-9091-D884F979F41D (resized).pngBC2DB0F6-908F-4083-BC03-FC0F0B013FFB (resized).pngQuoted from phil-lee:I hate to be the bearer of bad news but the Jan. 1 enactment of the new IRS rules will kill millions of re-sellers.
Once you reach 600 dollars in sales for a year you are rewarded with a 1099 Form. This treats you as a small Business and opens you up to taxes and scrutiny over your Bank accounts.
This is huge, just how huge is quickly becoming apparent to a lot of Folks who are just trying to earn a little extra income and found a side hustle that works for them.
I was an Ebay seller for 20 years. There is no way I want to be treated like a Business selling old junk I have accumulated over the years.
It's now down to local sales, yard sales, personal sales among Groups, or even donations to reduce tax liability.
It really sucks, study the new law and you will agree.
I'm a business. I've been an online business for close to 20 years. I sell hundreds of thousands a year on ebay and Amazon and pay all my taxes. This is just one more product I decided to carry.
Quoted from Bud:I agree, but that’s because it’s a philharmonic, it’s plain and uninspiring. A Britannia is cheaper, it’s beautiful, has security features and inspiring. A Buffalo is always an easier sell and sells above spot. That’s one reason I have not been able to pick up any Buffalos lately, when they come in they go out almost right away. I can pick up the “cheap” gold at any shop, not the case with a Buffalo. Besides, it’s $20 of over a philharmonic on the internet, local shops always have a better deal.
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Made it no secret I only purchase fractional for its liquidity in a bad situation. I consider holding a 1oz coin as a liability unless its in a safe. Fractional is more like "Pocket change".
In fractional sizes 1/10 and 1/4 Philharmonics are much cheaper then ASE, Maples and Brittanias.
Love the gold Buffalo but it is not available in amounts less then 1oz. The reason they are so popular is they are 24kt versus the Eagle, people are starting to prefer 24kt in the US. In Europe and India among others 24kt has always been preferred.
Remember the "Premium" paid when you sell is determined by an individual Dealer, its his prerogative what you get.
In a time of stress where many people are trying to sell and a glut of stock there is no guarantee you will get any premium.
Quoted from loneacer:I'm a business. I've been an online business for close to 20 years. I sell hundreds of thousands a year on ebay and Amazon and pay all my taxes. This is just one more product I decided to carry.
Good to hear Loneacer!
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