Gold and silver prices are down

Been buying shares in Silver Tiger Resources recently. High risk silver junior explorer with some nice drill results that have kept it from selling off like most silver stocks.

Best hits were 2608 g/t Ag-eq over 17.5 meters and 1051 g/t Ag-eq over 15.1 meters.

Based on their estimated 155 million oz resource it’s a 3-4 bagger at $30 silver and a 10 bagger at $50 silver.

$0.51 now but could easily sell off to $0.45. I’ve been buying at $0.51. Like most silver miners they’re in Mexico so there’s some political risk.
 
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Looks like $1850 might be here to stay. Senior producers are seeing some nice gains since last week. Let’s hope this is it!

Who can guess what premium over spot will be if we launch above $1900 in a few weeks?
 
djbradles said:
Looks like $1850 might be here to stay. Senior producers are seeing some nice gains since last week. Let’s hope this is it!

Who can guess what premium over spot will be if we launch above $1900 in a few weeks?
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I don't think the rally is safe til we close a week above $1900. If the Russia thing blows over we may be back under $1800. But overall gold is looking good, it's just a matter of time.
 
I used to buy my physical copper from banks. Several years ago when copper was going crazy, I used my charm at every damn bank within a 10-mile radius and bought boxes of pennies--about a thousand dollars twice a week. Had four Ryedale machines set up in a series to separate the 95% copper pre-1982 coins from the post-82 zinc coins. The last two Ryedale comparators in the series were set so tight they also separated wheat and Indian Head pennies and Canadian 98% cents.

Harvested about 30% copper from the boxes. Sold the ".950 Copper Bullion" (heeheehee) on eBay as fast as I could package and ship them. Took the zincs back to the bank and cashed them in for more boxes of pennies. Still sitting on about 65 pounds of Canadian copper pennies and several tubes of Indian Heads. Might need them someday to make change for a 90% dime.
 
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tinhorn said:
I used to buy my physical copper from banks. Several years ago when copper was going crazy, I used my charm at every damn bank within a 10-mile radius and bought boxes of pennies--about a thousand dollars twice a week. Had four Ryedale machines set up in a series to separate the 95% copper pre-1982 coins from the post-82 zinc coins. The last two Ryedale comparators in the series were set so tight they also separated wheat and Indian Head pennies and Canadian 99% cents.
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How many years ago were you getting 30% yield and actually encountering indian heads in circulation?
 
Rob Boudrie said:
How many years ago were you getting 30% yield and actually encountering indian heads in circulation?
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It was about ten years ago. Many of my IHs came from tellers who saved customer-wrapped rolls for me, knowing I was an old-coin "hobbyist". Lots of wheats were in circulation, though.
 
tinhorn said:
I used to buy my physical copper from banks. Several years ago when copper was going crazy, I used my charm at every damn bank within a 10-mile radius and bought boxes of pennies--about a thousand dollars twice a week. Had four Ryedale machines set up in a series to separate the 95% copper pre-1982 coins from the post-82 zinc coins. The last two Ryedale comparators in the series were set so tight they also separated wheat and Indian Head pennies and Canadian 99% cents.

Harvested about 30% copper from the boxes. Sold the ".950 Copper Bullion" (heeheehee) on eBay as fast as I could package and ship them. Took the zincs back to the bank and cashed them in for more boxes of pennies. Still sitting on about 65 pounds of Canadian copper pennies and several tubes of Indian Heads. Might need them someday to make change for a 90% dime.
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American ingenuity at its finest!

I should have done the same with $10 quarter rolls, cause 5 years ago I went to the bank to get a couple rolls of quarters and one roll was 100% silver quarters. [smile]
 
My wife and I were getting fast food once and paying with cash. (yeah, it was a long time ago). The cashier was counting out the change into my wife's hand and I could hear a distinct change in the clink of the coins. He had given her several steel pennies. I asked if he had any more of those and he had 3/4 of a roll left in his drawer. He let us exchange them for face value.
 
Choctaw said:
My wife and I were getting fast food once and paying with cash. (yeah, it was a long time ago). The cashier was counting out the change into my wife's hand and I could hear a distinct change in the clink of the coins. He had given her several steel pennies. I asked if he had any more of those and he had 3/4 of a roll left in his drawer. He let us exchange them for face value.
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Cool, never heard of a steel penny!
 
Varmint said:
Cool, never heard of a steel penny!
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1943, wartime. VERY common, not worth much even if in great shape, but an interesting oddity.

What is worth a lot is a 1944 steel penny or 1943 copper. Those are rare enough that each individual specimen in "known" and has its own recorded provenance. Aluminum pennys are valuable, but of questionable worth, since the govt may still hold title since there were merely "loaned" to some congresspeople/senators for examination. Just think of that poor sap who found 11 1931 $20 St Gaudens in the grandfathers (I think) stuff and lost the battle to keep them since they were technically stolen from the mint way back when.
 
Varmint said:
American ingenuity at its finest!
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I just stole ideas from others. There is still a Real Cent forum where I showed off pics of my setup. Like NES, ten year old logins still work! If you're interested, my setup is described in the 7th post at Realcent.org • Login . Unfortunately you need to set up an account to access the forum.

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Varmint said:
I should have done the same with $10 quarter rolls, cause 5 years ago I went to the bank to get a couple rolls of quarters and one roll was 100% silver quarters. [smile]
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One of my zinc dump sites was at a bank in Rockland. The coin machine was in a separate building--I had to be buzzed in. Ever seen the bags they take out of the coin machines at banks? There were tons of those bags filled with half dollars there. SOMEbody was doing large scale mining of silver halves. I remember thinking that silver mining was the next logical step but I had my hands full with copper at the time. Remember, this was ten years ago. Don't know how practical it would be to do it today. Timing and chance, timing and chance.
 
Now this is interesting. Well, to me anyway. Nickels are worth about 1/3 more than their face value, and the cheap zinc pennies are worth ALMOST a penny!

coins.jpg

From coinflation.com

Okay, I'm through derailing the silver/gold thread with talk of base metals.
 
tinhorn said:
I just stole ideas from others. There is still a Real Cent forum where I showed off pics of my setup. Like NES, ten year old logins still work! If you're interested, my setup is described in the 7th post at Realcent.org • Login . Unfortunately you need to set up an account to access the forum.

View attachment 577795
View attachment 577796


One of my zinc dump sites was at a bank in Rockland. The coin machine was in a separate building--I had to be buzzed in. Ever seen the bags they take out of the coin machines at banks? There were tons of those bags filled with half dollars there. SOMEbody was doing large scale mining of silver halves. I remember thinking that silver mining was the next logical step but I had my hands full with copper at the time. Remember, this was ten years ago. Don't know how practical it would be to do it today. Timing and chance, timing and chance.
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There was a window of time when you could get the 40% Kennedy halves because they were clad and not everyone recognized them as having real silver. Much less so today.
 
djbradles said:
Creeping up on $1900
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$1891 now. :oops:

What makes this interesting is that if it was just a Russia fear trade you’d think stocks would be down and bonds up, but they’re barely moving. So it might be the start of that breakout we’ve been waiting for for 18 months.

Gold loves to get everyone on the wrong side of the boat before making its move. No one predicted this - everyone was predicting $1750 or $1675 first.

$1897, whoohoo! I doubt we’ll break and hold above $1900 on this trip but it’s a great sign.
 
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Varmint said:
$1891 now. :oops:

What makes this interesting is that if it was just a Russia fear trade you’d think stocks would be down and bonds up, but they’re barely moving. So it might be the start of that breakout we’ve been waiting for for 18 months.

Gold loves to get everyone on the wrong side of the boat before making its move. No one predicted this - everyone was predicting $1750 or $1675 first.
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I totally agree. There is cautious optimism from all pundits but the institutional players and MM’s have taken almost every short position off. That is very telling. Even this rate hike cycle and the correlation to gold lows and breakout highs may not even materialize.

$1898-$1899 now.
 
I'm still curious as to who created bitcoin which helped to enable an entire decade of buying opportunities for PMs. I would not be shocked to find it was an entity who had interest in buying PMs. I am surprised it was so successful. I would have never imagined that so many people would be interested in buying a currency with no intrinsic value.
 

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