Gold and silver prices are down

Win said:
I’m not even certain what the calipers are. I’m surprised to read that review because, in my experience, the machine is extremely sensitive. What I mean by that is that I own coins of many different compositions. If I don’t tell the machine the exact composition of the coins they fail to test as genuine. I can even see the difference between .999 and .9999 silver (maple leafs test as being most certainly genuine).
Now that I am thinking about it, maybe that review was for the original previous metal verifier (which only tested the surface of the coin) as opposed the previous metal verifier pro (which tests through the coin)?
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Not sure. That was a recent review, however. I wanted to get some real feedback and I know you’ve had yours a couple of years, so thank you.
Also, what do the bullion mini wand and XL wand do? Are they necessary?
 
I didn’t buy any attachments so I’m not sure. They are potentially for larger bars and coins that don’t fit under the built in measuring arms. But then I don’t know if you could get the full “through the bar/coin” measure with the attachments (which I now recall is why I didn’t buy them). There is that limitation - I can fit 10 ounce bars under the built in measuring arms easily but I could never get a kilo under it. I believe @richc also bought a precious metal verifier so he may have some additional insight/experiences that might be useful.
 
Win said:
I didn’t buy any attachments so I’m not sure. They are potentially for larger bars and coins that don’t fit under the built in measuring arms. But then I don’t know if you could get the full “through the bar/coin” measure with the attachments (which I now recall is why I didn’t buy them). There is that limitation - I can fit 10 ounce bars under the built in measuring arms easily but I could never get a kilo under it. I believe @richc also bought a precious metal verifier so he may have some additional insight/experiences that might be useful.
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Very good. Much appreciate it. I’m shopping around now.
 
I think I mentioned it here before, but as long as you are buying a "known item" and not a generic, I always take my own sample with me. Buying ASEs? Take one as a comparison. Gold Buffalo? Same.

By limiting your exposure to Government-only coins you also limit your risk.

Now this doesn't work for bars and such, but if you do this with Government Coin, it's fairly fool-proof. YMMV...
 
Can’t find one of those machines anyway. Everyones testing there PM’s or another company affected by the “China virus”??? [laugh]
 
Win said:
I celebrated with another 10 ounces of silver.
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Did the same, I had bought a few of the silver krugerrands not long ago, wish I had doubled up that instead of waiting as I want to get 10 more oz's to fill the tube and they were much cheaper then. Oh well. not long ago I was debating on buying some more 1 oz silver bars because it had just gone up to 18 Ha.
 
Varmint said:
Sell? That's like going to a Ferrari dealer and saying "can i drive the car around the parking lot?"
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I didn't say I was going to sell everything I have, and I also didn't say I wasn't planning on buying back in.

But I think we're getting to a price that will cause a slight dip... so good time to sell and then buy back in if it goes that way.
 
LuvDog said:
I didn't say I was going to sell everything I have, and I also didn't say I wasn't planning on buying back in.

But I think we're getting to a price that will cause a slight dip... so good time to sell and then buy back in if it goes that way.
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Also with the online vendors showing out of stock on most silver local shops might be interested in buying some bars at close to spot.....just a guess. I may test the waters next week at a local shop.
 
Varmint said:
I told my wife when silver hits $25 I'm gonna go round up all my silver and count it. I really have no idea how many ounces I have cause they're all stuffed in drawers and stuff around the house, lol.
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.50cal ammo cans makes nice, neat, durable and carriable packaging. And excellent cover when stacked in a berm under window sills... [rofl2]
 
Let me preface this by saying that I'm usually wrong so take it for what it cost you [laugh]

My sense is that precious metals are not running up to where they should be now but rather running up to where they should have been years ago. That the real run hasn't begun. That precious metals as of this moment are still significantly undervalued. I'll be continuing to buy silver at over $50/ounce. Gold at $3,000 an ounce. At that point I'll re-evaluate but until then I'm giving myself the green-light to buy with any extra money I have (not borrowed money, not money I should have spent on my wife or kids, not my emergency cash savings) but anything after that I'm giving myself the green light to buy PMs.

Edited to add: Also not money that I donate to charity. That money is needed by others more than I these days.
 
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What does the braintrust:cool: here think is a fair price to sell 90% silver at? Stuff like Morgans, Washington quarters.

APMEX is getting $27-$29 for the Morgans, $5 for the quarters

The melt value of Morgans is $17.65, Washington quarters $4.15
 
Win said:
Let me preface this by saying that I'm usually wrong so take it for what it cost you [laugh]

My sense is that precious metals are not running up to where they should be now but rather running up to where they should have been years ago. That the real run hasn't begun. That precious metals as of this moment are still significantly undervalued. I'll be continuing to buy silver at over $50/ounce. Gold at $3,000 an ounce. At that point I'll re-evaluate but until then I'm giving myself the green-light to buy with any extra money I have (not borrowed money, not money I should have spent on my wife or kids, not my emergency cash savings) but anything after that I'm giving myself the green light to buy PMs.

Edited to add: Also not money that I donate to charity. That money is needed by others more than I these days.
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Exactly. Fiat is flawed. When silver reaches $50/oz...
A loaf of bread, a gallon of milk and an "ok" steak will cost the same...
 
alan226 said:
What does the braintrust:cool: here think is a fair price to sell 90% silver at? Stuff like Morgans, Washington quarters.

APMEX is getting $27-$29 for the Morgans, $5 for the quarters

The melt value of Morgans is $17.65, Washington quarters $4.15
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It's right there in the math.

Face Value X 27 to 29

Want to move it faster? 25X

Has been 13X for a few years now. That's over...
 
enbloc said:
Exactly. Fiat is flawed. When silver reaches $50/oz...
A loaf of bread, a gallon of milk and an "ok" steak will cost the same...
Click to expand...

That's certainly true in a general sense but you can periods of time where PMs are way over or under their intrinsic value.

Someone posted the example of a car costing $3200 worth of silver in 1963. Silver was way undervalued at that time, since the same amount of silver today would buy 5 times that.

So silver could easily hit $50 and a gallon of milk is still $4.
 

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