Gold and silver prices are down

[07Mustang]

There is a coin show Sunday January 2 at the Elks Club in Auburn, MA

 

[not new guy]

Just search for a coin shop in your area. They're around. If they're no better than online just go to one of the big name sellers on ebay.

 

[Win]

I stop by Northshore numismatics in downtown Wakefield sometimes. They have a pretty good variety of silver for a brick and mortar store. Folks are always kind to me and the kids too so that’s a plus.

 

[dans]

I stop by Northshore numismatics in downtown Wakefield sometimes. They have a pretty good variety of silver for a brick and mortar store. Folks are always kind to me and the kids too so that’s a plus.

I thought they closed years ago. I guess I should pay closer attention

 

[413guy]

So where are you folks buying your silver coins? With most of you commenting that the online premium being so high where are you going locally? I am looking to pick up some silver every other week or so.

If you are only going to be making small purchases every other week, I would consider looking somewhere over the border in New Hampshire. Massachusetts will charge you tax on anything less than $1000. The coin and stamp shop in Manchester has a good reputation from what I have gathered.

 

[Varmint]

Gold is $1827, knocking on the door of $1830 resistance.

This is a bullish time of year for gold with Chinese and Indian buying season. A close above $1830 for the month and year would be very nice, so the banks will be loading up their shorts today.

 

[sacksjacked]

Read the fine print, NO bullion. I would think scrap might be called bullion to limit payouts. Some of the gold beats aa Apmex website price by $20 or so.

Gone are the days when we took advantage of the 10% Ebay Bucks. Those were the days when a 1oz gold coin was going for around $1050-1100/ea. Making over $100 in ebay bucks per coin. Coins were selling for pretty close to spot as well so that made the deals that much sweeter

 

[sacksjacked]

Gold is $1827, knocking on the door of $1830 resistance.

This is a bullish time of year for gold with Chinese and Indian buying season. A close above $1830 for the month and year would be very nice, so the banks will be loading up their shorts today.

I don't bother looking at the daily price movements. Buy coins on a good deal and stack em high. JPM can easily hammer the PM market down two days in a row and we are back under $1800. Forget about what PM prices are daily. Just buy!

 

[413guy]

Gold is $1827, knocking on the door of $1830 resistance.

This is a bullish time of year for gold with Chinese and Indian buying season. A close above $1830 for the month and year would be very nice, so the banks will be loading up their shorts today.

Almost 1839 as of writing this. We will see what happens this week/year.

 

[Canndo]

First purchases of the new year.

 

[Varmint]

Almost 1839 as of writing this. We will see what happens this week/year.

Magical $30 drop to below $1800. Where’s my shocked face?

 

[76Too]

Magical $30 drop to below $1800. Where’s my shocked face?

I asked them why and they legit said they’re just doing it to f*** with your head now.

 

[Canndo]

Picked up these too.

 

[enbloc]

@Canndo is going to survive the Apocalypse quite well...

 

[Varmint]

Magical $30 drop to below $1800. Where’s my shocked face?

Saves me retyping this.

 

[Canndo]

Precious came early! Eyeballing gold now…..

 

[chris_1001]

Bought a bit more SLV (paper) today.

 

[enbloc]

Precious came early! Eyeballing gold now…..
View attachment 561234

 

[Varmint]

Bought a bit more SLV (paper) today.

Please buy PSLV instead - it's 100% backed by physical silver, so . . . SLV is backed by physical plus derivatives.

 

[chuckules]

Please buy PSLV instead - it's 100% backed by physical silver, so . . . SLV is backed by physical plus derivatives.

View: https://m.youtube.com/watch?v=9PDKnmlGm1I



First post for me on this thread; time (well, past time) to stop lurking and start buying...

 

[Canndo]

Is it weird that I now carry this in my pocket, daily?

 

[Rob Boudrie]

Please buy PSLV instead - it's 100% backed by physical silver, so . . . SLV is backed by physical plus derivatives.

You mean physical silver and the integrity of those holding the silver, and the effectiveness of their security precautions and/or the solvency of the insurer of the inventory.

I assume this is the standard deal where the amount of actual silver a share represents decreases by a small % each year as inventory is sold to pay administrative fees, executive compensation and bonuses, security; etc.

 

[Uzi2]

Is it weird that I now carry this in my pocket, daily?
View attachment 563874

Why Yes, Yes it is.

If I'm going to carry around an extra ten ounces of metal, it will be in 9mm caliber.

 

[enbloc]

Is it weird that I now carry this in my pocket, daily?
View attachment 563874

Nope. I carry an ASE in a flip...

 

[enbloc]

Is it weird that I now carry this in my pocket, daily?
View attachment 563874

Silver-soldier a nice loop ring on it and go Italian...

 

[Varmint]

You mean physical silver and the integrity of those holding the silver, and the effectiveness of their security precautions and/or the solvency of the insurer of the inventory.

I assume this is the standard deal where the amount of actual silver a share represents decreases by a small % each year as inventory is sold to pay administrative fees, executive compensation and bonuses, security; etc.

PSLV’s expense ratio is 0.62% yes. The main difference vs SLV is it’s taxed as capital gains while SLV is taxed like PMs as ordinary income, and PSLV’s physical silver is 100% put aside (in the Canadian Royal Mint) and cannot be loaned out or be in derivative form like SLV. Sprott acquires the silver before you buy PSLV, they don’t take your money like SLV and then try to go find the silver at some future date (backing your purchase by paper silver until then).

You can also take delivery but only if you’re a large shareholder. You cannot take delivery from SLV.

 

[Rob Boudrie]

The main difference vs SLV is it’s taxed as capital gains while SLV is taxed like PMs as ordinary income,

IRS considers PM's collectibles, hence the lack of capital gains treatments.

I have never seen a PM vendor's "education" material mention this point.

 

[Win]

Big move up in the metals markets today. What’s your guy sense of the near future in the metals markets? Are we out of the slump? Not yet?

 

[In God We Trust]

Big move up in the metals markets today. What’s your guy sense of the near future in the metals markets? Are we out of the slump? Not yet?

Probably not because I own a good stack of silver I bought in the 30s and 40s. I’m a loser with investments for the most part, so I expect silver to stay low until the day after I die.

My only smart move was buying SiriusXM at 13 cents s a share and going all in on stock funds during the slump a year ago.

 

[richc]

Big move up in the metals markets today. What’s your guy sense of the near future in the metals markets? Are we out of the slump? Not yet?

Interest rates are up a bit. Dollar is down. Inflation is hurting consumers. Risk of war between Russia and Ukraine.