Gold and silver prices are down

Varmint said:
Yeah, put that into something that's not being printed - real estate, even PHYS or PSLV if you want PMs without the premiums of physical or the paper derivatives of SLV and GLD.
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If I can't hold the PM I don't trust others to take my money and claim they have the PM's. I just don't.

Part of me wonders how many of these folks don't really have the gold and silver they claim they do. For me that's a serious concern.

I'm old, tired and seen too many scams in my life...
 
richc said:
If I can't hold the PM I don't trust others to take my money and claim they have the PM's. I just don't.

Part of me wonders how many of these folks don't really have the gold and silver they claim they do. For me that's a serious concern.

I'm old, tired and seen too many scams in my life...
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Yeah, Sprott is the only ones I'd trust. Probably cause I listen to like 2 hrs a day and everyone recommends only Sprott for gold/silver ETFs.

I trust Sprott more than I trust say my TD Ameritrade brokerage account.

In fact Eric Sprott created his Trusts for the same reason, he didn't trust any of the ETFs out there.
 
richc said:
If I can't hold the PM I don't trust others to take my money and claim they have the PM's. I just don't.

Part of me wonders how many of these folks don't really have the gold and silver they claim they do. For me that's a serious concern.

I'm old, tired and seen too many scams in my life...
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Live look at the treasury department reading this post
 

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richc said:
Ok, frequent posters to this thread. Where are we headed with PM prices over the summer. Let all know your thinking here.
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I was buying 90% until silver hit $27 and ounce. I am in hold mode now for Eagles and 90%. $ 30 is here, just not on the charts yet. I do not know or cannot guess where the new top is but those eagles I bought at $440 per tube of 20 not that long ago are looking real good.

I am plotting my exit strategy again, keeping an eye on the gold/silver ratio. I dislike gold because you bump against the 1099b real fast on sales. Finding 1/10 Oz gold eagles available is a little hard right now. I don't see that opening up too fast.

I will start selling in the upper $30's, I missed it the last time around and could have doubled my money by selling that high and buying it all back at $20-22. Always remember that selling silver is a temporary thing. I do not see a one way street forever going up, it will eventually swing back down and then buying it back is just plain fun.

Here's a link for silver history:

I've said it before, here's a repeat. You will see 30 before you see 17.
 
Question for the group:
I am just getting in physical metals (a little late I know) I have been buying mostly sliver 1oz coins and Gold 1 gram - 1/10 oz coins. I am looking for the metal to be a long term investment. So my question. Does it matter what type of coin I buy - ex maple leaf vs a Buffalo. I am not looking for the coin value but just the metal value? I figure 1 oz is 1 oz, right?
 
Wilbart said:
Question for the group:
I am just getting in physical metals (a little late I know) I have been buying mostly sliver 1oz coins and Gold 1 gram - 1/10 oz coins. I am looking for the metal to be a long term investment. So my question. Does it matter what type of coin I buy - ex maple leaf vs a Buffalo. I am not looking for the coin value but just the metal value? I figure 1 oz is 1 oz, right?
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American Eagle coins seem to have more value over spot than others. The Buffalo too. Foreign coins like the Maple Leaf, Krugerrand and others tend to be worth less.

FYI when you buy 1 gram you're paying a large amount over spot. The larger the denomination of the coin the smaller the price over spot in general.

Good luck!
 
Wilbart said:
Question for the group:
I am just getting in physical metals (a little late I know) I have been buying mostly sliver 1oz coins and Gold 1 gram - 1/10 oz coins. I am looking for the metal to be a long term investment. So my question. Does it matter what type of coin I buy - ex maple leaf vs a Buffalo. I am not looking for the coin value but just the metal value? I figure 1 oz is 1 oz, right?
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I would say that if you don't care what you own, that is, if you only care about the gold content of the coin then it doesn't much matter what style of bullion you buy so long as it's recognized by other investors in case you ever sell.
 
Yeah I tend to buy the ones that I like the design, like Buffalos. I like the Krugerrand design but not the copperish color. But like rich said calculate the spot prices on smaller coins so you don’t overpay.
 
richc said:
FYI when you buy 1 gram you're paying a large amount over spot.
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Yeah, I know, but I figured in the long run the extra spot will be offset by getting the gold at today's and not wait till I can get the larger amounts and the higher price Gold will be at that time. But I will keep an eye on it


Win said:
recognized by other investors in case you ever sell.
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Yes, I am not doing after some weird one-off coin just not the "big" names ones.


Thanks for your help
 
I was able to acquire this 1881 Gold 100 Francs. This is one of the types of coins I was hoping to acquire prior to a major run up in gold prices. These coins are quite rare with mintages of only about 20,000/year from 1878-1906 ( France 100 Francs KM 832 Prices & Values | NGC ) yet sell for only a few hundred dollars over spot. If you're just looking to amass as much gold as possible then these aren't for you but if you're willing to pay a little more for a piece of history then this might be a consideration.
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ASHDUMP said:
Do you guys think there are some good buys on gold and silver stocks? Physical or miners? Just curious..... or has the rise started to happen?
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The rise has started somewhat but we are not out of the woods yet wrt Fed posturing on rates and bond purchases. It may rotate around for the next couple months. I do believe we’ve put in a double bottom and the ultimate lows imho were around 3/1. That was the best time to buy miners. There are a ton of Junior explorers with drilling going on and assays not yet revealed. I couldn’t begin to touch the surface of those but stay away from this one for now since as you see it’s gone bonkers! Could be a 10 bagger easy.
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Junior producers like USAS, NSRPF, AXU, ASM, CXBMF are well priced. There are so many good companies to own in Tier 1 jurisdictions. Some advanced exploration stories like MGDPF, SGSVF, LGDTF, PROBF are good considerations. Take a look at the pps difference between MGDPF and NFGFF. It’s a no brained to own Marathon instead of New Found at there respective market caps.

Aftermath Silver AAGFF was a really good buy earlier this week. It has a resource estimate calculated without a very important project addition and the estimate was revised on Weds I think. The stock sold off over the last couple weeks to support levels (almost to where I bought at .35).

@Varmint has much more to offer than I do in this sector.
 
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djbradles said:
The rise has started somewhat but we are not out of the woods yet wrt Fed posturing on rates and bond purchases. It may rotate around for the next couple months. I do believe we’ve put in a double bottom and the ultimate lows imho were around 3/1. That was the best time to buy miners. There are a ton of Junior explorers with drilling going on and assays not yet revealed. I couldn’t begin to touch the surface of those but stay away from this one for now since as you see it’s gone bonkers! Could be a 10 bagger easy.
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Junior producers like USAS, NSRPF, AXU, ASM, CXBMF are well priced. There are so many good companies to own in Tier 1 jurisdictions. Some advanced exploration stories like MGDPF, SGSVF, LGDTF, PROBF are good considerations. Take a look at the pps difference between MGDPF and NFGFF. It’s a no brained to own Marathon instead of New Found at there respective market caps.

Aftermath Silver AAGFF was a really good buy earlier this week. It has a resource estimate calculated without a very important project addition and the estimate was revised on Weds I think. The stock sold off over the last couple weeks to support levels (almost to where I bought at .35).

@Varmint has much more to offer than I do in this sector.
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Yeah, while physical gold and silver is expensive due to lack of supply, the junior miners are still cheap. The larger mining stocks tend to move first, and they have already. Stocks like Newmont are at record highs already, and GDX and GDXJ are not what I'd call cheap anymore.

But some juniors are still great buys in order of what I'd buy if I didn't own any of them:
LGDTF - Liberty Gold - seems like it's bottomed, I've been buying this up the last few months.
Aftermath Silver - very cheap right now due to Peru election June 6. I think the fear is overblown, politicians talk trash before getting elected - and the guy is dropping in the polls. Aftermath is only 1/3 in Peru, so bad news is priced in. Put in an order for $0.41 or $0.365. It's an easy double if the election goes well.
CXBMF (Calibre Mining) - in production and still undervalued
RIOFF - Chile based gold company should soon be starting mine production. Cheap because of concerns about anti mining policies coming to the government.
MGDPF (Marathon Gold) - no longer cheap at new highs but a great company and safe bet.
CANWF (Orca gold) - they're in Sudan which is why they're cheap, but this management team has done it before, and they're trying to build a mine, not just sell the company.
ECRFF - they expanded the resource by like 50% a month ago and stock hasn't moved yet.
BCEKF - 100% Peru, so it's very cheap but risky. I have an order in for more shares at $1.42.
DSVMF - safer silver junior if Peru scares you. Mexico scares me almost as much, but that's where the silver is.

That's a list of what I think are still a good buy.
 
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Varmint said:
Yeah, while physical gold and silver is expensive due to lack of supply, the junior miners are still cheap. The larger mining stocks tend to move first, and they have already. Stocks like Newmont are at record highs already, and GDX and GDXJ are not what I'd call cheap anymore.

But some juniors are still great buys in order of what I'd buy if I didn't own any of them:
LGDTF - Liberty Gold - seems like it's bottomed, I've been buying this up the last few months.
Aftermath Silver - very cheap right now due to Peru election June 6. I think the fear is overblown, politicians talk trash before getting elected - and the guy is dropping in the polls. Aftermath is only 1/3 in Peru, so bad news is priced in. Put in an order for $0.41 or $0.365. It's an easy double if the election goes well.
CXBMF (Calibre Mining) - in production and still undervalued
RIOFF - Chile based gold company should soon be starting mine production. Cheap because of concerns about anti mining policies coming to the government.
MGDPF (Marathon Gold) - no longer cheap at new highs but a great company and safe bet.
CANWF (Orca gold) - they're in Sudan which is why they're cheap, but this management team has done it before, and they're trying to build a mine, not just sell the company.
ECRFF - they expanded the resource by like 50% a month ago and stock hasn't moved yet.
BCEKF - 100% Peru, so it's very cheap but risky. I have an order in for more shares at $1.42.
DSVMF - safer silver junior if Peru scares you. Mexico scares me almost as much, but that's where the silver is.

That's a list of what I think are still a good buy.
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Appreciate the insight. Everyone of those companies I can not purchase through Webull.

Nonetheless I'll keep researching.
 
ASHDUMP said:
Appreciate the insight. Everyone of those companies I can not purchase through Webull.

Nonetheless I'll keep researching.
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ok yeah those are probably all OTC stocks. Alexco is a good silver junior that you can buy, GSV you already own. Nothing wrong with GDXJ, it has several of those stocks i listed in it. Not cheap but I like Sebanye.
 
Price action in Bitcoin looks miserable but what surprises me is that there is no panic. There’s a very orderly sell off with lower highs and lower lows occurring over the course of over a week. I would have expected folks to sell more abruptly. I certainly would have. I’m always surprised by the conviction of the crypto crowd - their confidence in the value of crypto.
 
BTC down another 10% as of this morning. I also am impressed by the confidence those crypto sycophants have in holding. Bravo.
 
Win said:
Price action in Bitcoin looks miserable but what surprises me is that there is no panic. There’s a very orderly sell off with lower highs and lower lows occurring over the course of over a week. I would have expected folks to sell more abruptly. I certainly would have. I’m always surprised by the conviction of the crypto crowd - their confidence in the value of crypto.
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What percentage is held by the top few holders? If it’s still like 90% and they’re not selling then it limits the downside. Plus you have all the people who want in and think $30k is a good entry point. If it breaks $30k then you might start to see some panicking but even then I don’t think the top holders will sell at any price.
 
I think some momentum traders are moving from bitcoin to gold now that gold has broken its downward trend line and breached $1850. Hopefully they’ll stay in it til we reach $2100.
 
I don’t know anything about who owns the bitcoin. I’m just speaking from the technical chart. Looks to me like it’s going to fall closer to 20k and then potentially begin a slow ascent. I don’t see any reason to guess the bottom. If I owned any and wanted to continue to own any I’d sell now (really a few days ago) and buy back in after the price stabilizes. Looks like unnecessary losses being taken. That’s what I have trouble understanding.
 

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