Gold and silver prices are down

[Varmint]

Sneaky bears are shorting gold in the thinly traded premarket. Down to $1780. Let’s see how the fight goes when the markets are open later today.

 

[DJBrad]

Sneaky bears are shorting gold in the thinly traded premarket. Doesn’t to $1780. Let’s see how the fight goes when the markets are open later today.

Not much longer and the fight will be over. It can’t go on forever.

 

[76Too]

Sneaky bears are shorting gold in the thinly traded premarket.

I’m sorry to keep bothering you with stupid questions, but what does this mean exactly?

I understand bears/bulls I think, but how can they drive the price down?

 

[Grendizer138]

I’m sorry to keep bothering you with stupid questions, but what does this mean exactly?

I understand bears/bulls I think, but how can they drive the price down?

Before you get wrapped around the axle, realize that most of the guys in this thread are invested in shares of gold mining companies or trading options and futures contracts. That’s why they are so invested in speculation and day to day data.

I look at PMs as an insurance policy against bad government decisions. I don’t sweat price fluctuations at all; if price goes down, cool, it’s on sale!

 

[Varmint]

I’m sorry to keep bothering you with stupid questions, but what does this mean exactly?

I understand bears/bulls I think, but how can they drive the price down?

The price we’re watching is the gold futures price, which starts trading like Sunday 7 pm. Since not many are trading at that time, what certain entities (not sure they are bears, could be a central bank for all we know) like to do is to sell a billion dollars worth of gold futures contracts all at once, when there are few buyers. This is a terrible way to make money cause you’ll get a bad price - so the only reason to do it is to drive down the metals price below key resistance levels. This can trigger algorithmic selling and panic selling to further drive down the price.

 

[Varmint]

Before you get wrapped around the axle, realize that most of the guys in this thread are invested in shares of gold mining companies or trading options and futures contracts. That’s why they are so invested in speculation and day to day data.

I look at PMs as an insurance policy against bad government decisions. I don’t sweat price fluctuations at all; if price goes down, cool, it’s on sale!

Yes it’s actually beneficial to long term thinkers like you when they drive prices down. And it won’t work forever.

 

[cams]

I’m not even close to the level you guys are in knowledge on this stuff, but I just got another 20 Silver Eagles (type 2) delivered this morning.

 

[enbloc]

I like that they added a little anti-counterfeiting feature to the reeded edge...

"The Missing Reed"... Which can be relocated at any time to keep fakers on their toes...

It has been revealed that the 2021 Type-2 American Silver Eagle Brilliant Uncirculated and Proof coins featuring the new reverse design created by Emily Damsta will include an enhanced security feature. The security feature is an anti-counterfeit reeded edge variation, implemented for the first time by the United States Mint. Essentially, within the reeded gap edge, there are very small gaps. Whether the size or position of that spaces will change for future releases is currently unknown. This security feature will also appear on the Type-2 1-ounce American Gold Eagle Brilliant Uncirculated coins featuring their new reverse designed by Jennie Norris.

 

[Rob Boudrie]

Interesting reading about overt and covert features ... but how are PM buyers supposed to use he covert ones to check authenticity if they remain in the real of the secret squirrel?

 

[enbloc]

Interesting reading about overt and covert features ... but how are PM buyers supposed to use he covert ones to check authenticity if they remain in the real of the secret squirrel?

Lol. Hopefully they did not create something that metallurgically identifies a new ASE as genuine.

Like a silver content of .888

 

[Rob Boudrie]

I wonder if the flat spot in the ridges is designed to orient the ASE in a fixture of a device that does something like scan for some difference in the property of coin at various locations. I find it hard to believe that an operation that could effectively counterfeit ridges couldn't do a flat spot.

 

[tinhorn]

Interesting reading about overt and covert features ... but how are PM buyers supposed to use he covert ones to check authenticity if they remain in the real of the secret squirrel?

Google is your friend. A bad friend, yes, but security features aren't really secrets. This is one of the reasons I stick to just a few particular coins. (Popular and well known coins that people are somewhat familiar with, 'cuz some day I might need to sell them!) It's easier to become an expert on a few subjects than the whole damn world.

Funny story: I bought an old second-hand Fisch gold coin tester for Krugerrands and American Gold Eagles. Fisch testers check size and weight. Now Krugs and AGEs are 22 karat--92% gold alloyed with copper.

My Fisch also tested 1/10 oz. Britannia coins. Well, a bunch of 1/10 Britannias were on eBay from a seller I trusted so I bought them, since the premium was the same as for 1 oz. coins.

So my 1/10 Britannias showed up, first Britannias I ever bought! I tested them like I do all my coins, and about shit my pants when they ALL failed the Fisch test! Turns out (thanks Google!) that in 2013 the alloy was changed to 24 karat--pure gold--so the coins' weight was lower since there wasn't that extra 8% of copper in the mix.

What was most fascinating were all the security features in the coins, most of which required a small magnifying glass for me to see.

 

[NHCraigT]

Visualizing the Global Silver Supply Chain

Nearly 50% of global silver production comes from South and Central America. Here's a look at the global silver supply chain.

www.visualcapitalist.com

 

[enbloc]

I wonder if the flat spot in the ridges is designed to orient the ASE in a fixture of a device that does something like scan for some difference in the property of coin at various locations. I find it hard to believe that an operation that could effectively counterfeit ridges couldn't do a flat spot.

It is the "data" within the gap that holds the secret of its authenticity...

 

[not new guy]

View: https://twitter.com/es_aion/status/1451919480892821519?s=20

 

[enbloc]

here's a close-up...



1880 U.S. $500 dollar bills...


This is an extremely rare note. Only a few are known to exist. We’ve been fortunate enough to handle one of these before. If you have this note, contact us and we will help you move forward to get the money you deserve.

Year: 1880

Denomination: Five Hundred Dollar Bill

Type: Legal Tender (United States Note)

Seal Type: Red

Portrait: Joseph K. Mansfield

Varieties: There are three signature varieties for the 1880 $500 legal tender. There is Rosecrans & Nebeker, Tillman & Morgan or Bruce & Roberts. The Bruce & Roberts signature will bring the most money, contact us for details

Value: This is an incredibly rare denomination and date. No matter condition, these notes will almost always bring over $50,000. Better condition examples will bring over $300,000

"Linen Eagle" playing cards...

1800'S COLT DERRINGER (Colt 3rd model) .41 (short) rimfire​

Forehand Arms Co. 5-shot top break revolver (Worcester, Mass) .32 S&W or .38 S&W

 

[not new guy]

Wow - that note might be the prize then. I don’t know what the rest of that roll looks like but $500 strikes me as a shitload of cash in its own, at least for back then.

 

[Varmint]

Wow - that note might be the prize then. I don’t know what the rest of that roll looks like but $500 strikes me as a shitload of cash in its own, at least for back then.

$500 in 1880 is equivalent in purchasing power to about $13,446.57 today

 

[enbloc]

Some of the coins:

 

[DJBrad]

View attachment 535611

Some of the coins:

View attachment 535613View attachment 535614
View attachment 535615View attachment 535624
View attachment 535625

What an incredible find!

 

[fl4848]

I wonder if this is one of the stashes of the Knights of the Golden Circle.

 

[Canndo]

I’ve been metal detecting and treasure hunting for 40+ years. If I ever found a stash like that, I would die a happy man. Wow!

 

[enbloc]

I wonder if this is one of the stashes of the Knights of the Golden Circle.

Naw. We usually store them in Mason jars...

 

[Win]

$500 in 1880 is equivalent in purchasing power to about $13,446.57 today

I would think more no? $500 in 1880 is 25 liberty double eagles. Why wouldn’t the value be 25 * .9675 * 1,800?

 

[fl4848]

I’ve been metal detecting and treasure hunting for 40+ years. If I ever found a stash like that, I would die a happy man. Wow!

What kind of stuff have you found?

I have a Whites detector. I haven't found anything too interesting. I don't get much time to go out though, unfortunately.

 

[fl4848]

Naw. We usually store them in Mason jars... View attachment 535633

I read a book on the KGC. It is kind of interesting. Hard to distinguish the line between myth and reality.

 

[fl4848]

View attachment 535611

Some of the coins:

View attachment 535613View attachment 535614
View attachment 535615View attachment 535623
View attachment 535625View attachment 535626
View attachment 535627

Is there a youtube video about this discovery?

 

[fl4848]

I wonder what those barnacle-looking things are on the box. Not sure if that's just dirt or some sort of metal welded to it?

 

[fl4848]

So all silver mined in the world today is being bought by China? That's great.

 

[enbloc]

I read a book on the KGC. It is kind of interesting. Hard to distinguish the line between myth and reality.

Are you a Freemason?

That is where myth and reality merge...