Gold and silver prices are down

Win said:
At what price would you guys stop buying silver? In addition to the kilo coin I bought my daughter I’ve been buying a few ounces here and there. But at what price would you guys not spend extra money on silver? $25/oz?
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When it's overpriced. One way to gauge that is gold/silver ratio. At (current) 85:1, silver is probably underpriced. At 40:1 I'd say it's overpriced.
 
enbloc said:
Looks like Gold and Silver took a little dump today.
Gold headed for $1250 (down nearly $100/oz since mid-Feb)
Silver headed for sub-$15 (down nearly $1+/oz since mid-Feb)

Good time to trade fiat for shiny...
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$1275 is a big support level for gold, it probably won't break that. If it does maybe $1220 is next. Now that the Fed has thrown in the towel, you just won't have a lot of sellers. Everyone knows it's a matter of time before the Fed restarts QE, and you want to own gold/silver or miners before then.
 
Well now I just saw this thread pop up and I was like “oh something must be going on with metals”. I haven’t looked in a year or so and holy crap I need to sell my palladium! What a spike. Almost takes the sting off the platinum bust.
 
HerbWest said:
Seems the prices of precious metals are completely controlled and at the whim of paper contracts.
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I know some of the gold bugs say it's all manipulated, silver especially. But it seems to me PMs are behaving normally - after a 6-7 year bear market, we're back in a bull market.

I think the last pull back in PMs will be done by summer. I keep buying gold/silver stocks on pull backs.
 
Anyhow, I don't buy Precious Metals as an investment that I would wish to sell in time.

I buy silver in small coins, which could be used to buy Bread, Gasoline, and Transport should the SHTF.

A few pounds of which might make a difference. Or not.

Stock up on Food and Ammo too.
 
Mike Stanton said:
The only way to receive eBay Buck promotions is to create an eBay Account for every family member.

Even the dog.
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Yeah I used to qualify but that stopped in 2019. I don’t know if EBay actively fools around with accounts or what, but I’m sure they lost a lot of money on all those silver and gold purchases with 10% Bucks, lol.
 
Varmint said:
I know some of the gold bugs say it's all manipulated, silver especially. But it seems to me PMs are behaving normally - after a 6-7 year bear market, we're back in a bull market.

I think the last pull back in PMs will be done by summer. I keep buying gold/silver stocks on pull backs.
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Really don’t much about it, have read about huge paper shorts controlling prices?
 
I'm buying PMs when I can but sometimes dabbling over into numismatic coins. I think PMs are the better hedge against economic/monetary supply catastrophe but numismatic coins have a history that I treasure.
 
At times you can find sales on eBay where a slabbed MS 62-63 St Gaudens random date coins is $50-$75 about the spot cost of gold. When eBay bucks are active I've bought a few of these for less than the spot price of gold.

It's an interesting way to buy PM's and numismatic items. You know they'll never be worth less than the spot price of gold. And a PCGS coin is guaranteed authentic.

If you think like I do, if/when the price of gold pops due to some major financial disaster, war or huge natural disaster, the extra $50/$75 is meaningless. And you have the peace of mind that the coin has been authenticated.

YMMV...

Rich

Win said:
I'm buying PMs when I can but sometimes dabbling over into numismatic coins. I think PMs are the better hedge against economic/monetary supply catastrophe but numismatic coins have a history that I treasure.
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richc said:
At times you can find sales on eBay where a slabbed MS 62-63 St Gaudens random date coins is $50-$75 about the spot cost of gold. When eBay bucks are active I've bought a few of these for less than the spot price of gold.

It's an interesting way to buy PM's and numismatic items. You know they'll never be worth less than the spot price of gold. And a PCGS coin is guaranteed authentic.

If you think like I do, if/when the price of gold pops due to some major financial disaster, war or huge natural disaster, the extra $50/$75 is meaningless. And you have the peace of mind that the coin has been authenticated.

YMMV...

Rich
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In terms of the minor markup of numismatic gold I feel very similarly to the way that you do. What I feel differently about is that I like to own coins in the range of VF-XF. I enjoy thinking about what type of transactions those coins went through, what they bought, and what type of folks may have owned them. But I know many numismatists who enjoy MS coins the most so these are the types of preferences where there isn't a universally correct answer.
 
I understand your POV on this. I know plenty of coin collectors who also enjoy the past history of the coins.

Me... For $75 over spot I won't save that much over XF or AU. And although I enjoy the beauty of older gold coins I also enjoy seeing coins in their original state. Buying an uncirculated coin that's over 100 years old just blows me away...

:)

Win said:
In terms of the minor markup of numismatic gold I feel very similarly to the way that you do. What I feel differently about is that I like to own coins in the range of VF-XF. I enjoy thinking about what type of transactions those coins went through, what they bought, and what type of folks may have owned them. But I know many numismatists who enjoy MS coins the most so these are the types of preferences where there isn't a universally correct answer.
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Can anyone here tell me about Palladium? I really don't know anything about it or why it's been so hot over the last several months? What's it used for and why has demand increased so much?
 
I love collecting the Swiss PAMP 1oz & 5oz silver bars, but I have never bought any on eBay before. I was looking at some today and one of them (with over 20 bids) looked strange. I did a search for counterfeit PAMP silver bars and found one on YouTube. The video showed the exact same fake bar that was for sale on eBay. Buyer beware!!!
 
Hey Ash,

Yeah, there are a ton of fakes out there. Anything I buy on eBay is from a handful of reputable sellers. Apmex, Bay Precious Metals, Liberty and MCM. They have way to much to lose to mess around selling fakes and have been very reliable.

NES member @Win turned me on to this machine a while back. As you know I"m a sucker for tech gadgets...

Precious Metals Verifier PRO - Sigma Metalytics

Cheers

Rich

samandglove1 said:
I love collecting the Swiss PAMP 1oz & 5oz silver bars, but I have never bought any on eBay before. I was looking at some today and one of them (with over 20 bids) looked strange. I did a search for counterfeit PAMP silver bars and found one on YouTube. The video showed the exact same fake bar that was for sale on eBay. Buyer beware!!!
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Bonus of the precious metal verifier is that my kids can't wait to test everything we buy. Really get's them into the hobby. Fun times.
 
Win said:
Can anyone here tell me about Palladium? I really don't know anything about it or why it's been so hot over the last several months? What's it used for and why has demand increased so much?
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Palladium has been going gangbusters cause there's a serious shortage such that the paper market is not able to control prices. There just aren't many producers - I think it's more a production issue than demand.

I like to buy PMs when they're cheap, not after they've had a huge rally. Silver is cheap, gold somewhat cheap.
 
samandglove1 said:
I love collecting the Swiss PAMP 1oz & 5oz silver bars, but I have never bought any on eBay before. I was looking at some today and one of them (with over 20 bids) looked strange. I did a search for counterfeit PAMP silver bars and found one on YouTube. The video showed the exact same fake bar that was for sale on eBay. Buyer beware!!!
Click to expand...

Like rich and others, I just buy from Apmex, MCM, silvertowne and a few times jmbullion. If you're buying bullion and mass produced coins, there's no reason to buy from anyone but the big trusted sellers.
 
HerbWest said:
Really don’t much about it, have read about huge paper shorts controlling prices?
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Yes, in the case of silver, JP Morgan has half the deliverable silver traded on the Comex in its own vault (100 million ounces). So they can easily manipulate the price of silver.

The Hunt brothers bought up all the silver and drove the price to $50 in 1980. Silver is a tiny market, it's a $20 billion market, like a quarter that of bitcoin. So it's easy to manipulate. But if gold takes off (and gold's much harder to manipulate), silver will go with it, so I don't really worry about it. Take advantage of JP Morgan driving down silver, and buy it. Just keep in mind it can take decades to pay off.
 
My only hope is that someday Tungsten becomes worth more than silver and the Chinese recall all their fakes... [rofl2]
 
$26.18 is waaaay to much for a Troy oz of silver... PAMP or not.
But I do give you credits for "Style" samandglove1...
 
Thanks for the advice. I'm a long time buyer with Apmex & JM, but I've never bought precious metals on eBay before. I unloaded almost 200lbs of silver at $40 in 2011, and have stayed out of silver since then. Other instruments are starting to spook me a bit, though, so I think it's time to jump back in.
 
Lol. I watched the video and he cut into a Silver bar. Not likely a genuine PAMP bar, but a SILVER BAR. The 130.00 test solution color did not change. had it turned green or blue that would have been bad, but it stayed close to the same. Most likely real silver...

Someone is knocking off PAMP bars with real silver and cashing in on the premium!
Brilliant!
 
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samandglove1 said:
Thanks for the advice. I'm a long time buyer with Apmex & JM, but I've never bought precious metals on eBay before. I unloaded almost 200lbs of silver at $40 in 2011, and have stayed out of silver since then. Other instruments are starting to spook me a bit, though, so I think it's time to jump back in.
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I like buying directly from refiners/mints who pour their own rounds/bars, (Sunshine Minting, SMI is my current favorite non-Government silver house, and supplies blank silver planchets to the US Mint for ASE's) followed by the big internet houses that offer you some protections on your purchases.
~Matt
 
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