Gold and silver prices are down

[richc]

Must have been a double dose of Viagra. This is starting to look like a Ron Jeremy chart...

 

[Rat187]

Nyet¡

 

[Rat187]

Saudi's and the BRIC's have given us a dose

 

[Varmint]

Yes. When Cramer says, “I like Silver Tiger. Great project. I love the stock!”

You scared me for a second there!

 

[smokey-seven]

 

[Varmint]

US dollar taking a dump too.

Early Monday morning, premarket open, The USDX index traded as high as $103.04. This is a HUGE move to the downside.


View attachment 739275

Dollar support breaking.

Gold $2040, am I reading that right?

 

[richc]

Dollar support breaking.

Gold $2040, am I reading that right?

View attachment 739282

You are reading that correctly, sensei... except I look at spot gold at $2023 or so. I believe you look at the futures price.

 

[richc]

Saudi's and the BRIC's have given us a dose

Yup, death by a thousand cuts. Some cuts hurt worse...

 

[richc]

Nyet¡

I have Ron in the dead pool...

 

[Rat187]

Yup, death by a thousand cuts. Some cuts hurt worse...

Going to be painful

 

[richc]

Going to be painful

Oil prices drive so much of our inflation. Every product needs to be shipped.

As long as Biden is in power the Saudi's will screw with the US. Biden disrespected them, and is weak.

 

[slugworth]

Chinese making deals with everybody else, “we will back your money”

Soon the American dollar will be worthless….

 

[richc]

Chinese making deals with everybody else, “we will back your money”

Soon the American dollar will be worthless….

I think it will take longer than you suggest, but we arrive at the same place.

The Chinese, Russians, Saudis and all want to become the world's financial powerhouses. But they know if they cause the US dollar to crash and burn it hurts them too.

Quid pro quo, Clarice, quid pro quo.

 

[Rat187]

Guess the upcoming war with China is off the 'dummycrats' agenda

 

[richc]

Anyone thinking of heading up to the NH coin show on Friday? I can't make it on Saturday. Family obligations.

If so, would be fun to meet up.

 

[richc]

Silver up another $1. Damn..........

 

[Win]

A week ago I bought 2,225 shares of Defiance Silver at 9 cents/share. Here's the 1 week chart. It doesn't amount to that much money but it is a nice return.

 

[Rat187]

A week ago I bought 2,225 shares of Defiance Silver at 9 cents/share. Here's the 1 week chart. It doesn't amount to that much money but it is a nice return.

View attachment 739332

Bought at 52 week low...very smart

 

[Reptile]

Gold is $30 from it's all time high.

Today right now gold is:

$2035

 

[richc]

Spot silver prices are have trouble breeching $25. But that there is a nice number all by itself!

 

[Broomcorn]

These are recent buy prices, for decent quantities, from a very large bullion dealer for their wholesale customers. You can expect to get less when selling to a local dealer.

I'm new at this. What is the point of buying the MS69 and MS70 Eagles? The retail prices are so over inflated. What is the point of buying them if you are only going to get spot + a few bucks on a resale? Why wouldn't you buy an ungraded coin instead? You are still getting raped on the premium but at least they are using a little lube.

 

[richc]

I'm new at this. What is the point of buying the MS69 and MS70 Eagles? The retail prices are so over inflated. What is the point of buying them if you are only going to get spot + a few bucks on a resale? Why wouldn't you buy an ungraded coin instead? You are still getting raped on the premium but at least they are using a little lube.

IMHO there's no value. Essentially all Eagles are uncirculated. There's tons of high grade coins.

I have bought Eagles for the PM value, not the numismatic value. FYI one of the benefits of buying US coins is the backing of the US government. If frauds/counterfeits are found the Secret Service going after them. Crooks will often avoid counterfeiting US currency due to the major enforcement fears. Although certainly counterfeits do exist. Plus buying from the big dealers adds a layer of certainty that the coins are real. Apmex, SDBullion, Bullion Exchange and JMBullion have all done well by me over time.

I have bought some Saint Gaudens pre-1933 that have been graded. Mostly when premiums were a lot lower than today. I'd pay the extra $50-$100 per coin from a reputable dealer. it's insurance that the coin is not a fake. IMHO it makes the coin more marketable during periods of high demand. A slabbed coin adds some credibility, although, as @HappyHarry has pointed out, counterfeits do exist.

Certainly YMMV...

Rich

 

[J.A.C]

I'm new at this. What is the point of buying the MS69 and MS70 Eagles? The retail prices are so over inflated. What is the point of buying them if you are only going to get spot + a few bucks on a resale? Why wouldn't you buy an ungraded coin instead? You are still getting raped on the premium but at least they are using a little lube.

I don’t get buying graded bullion at all. Like ASE’s, etc.

If/when silver hits say $50 guess what, it’s all going to be worth $50. I don’t see anyone caring if you have a raw 2016 ASE or a slabbed 2019 one.

 

[Win]

JMHO - MS70 is a marketing ploy by the grading companies to get more submissions.

 

[76Too]

I'm new at this. What is the point of buying the MS69 and MS70 Eagles? The retail prices are so over inflated. What is the point of buying them if you are only going to get spot + a few bucks on a resale? Why wouldn't you buy an ungraded coin instead? You are still getting raped on the premium but at least they are using a little lube.

Don’t bother with graded coins. That shit is for nerds. (No offense to present company…nerds)

 

[Rat187]

Don’t bother with graded coins. That shit is for nerds. (No offense to present company…nerds)

Speaking of nerd, someone almost sold a half box of KitcoS at 17+3…lol

 

[DJBrad]

Speaking of nerd, someone almost sold a half box of KitcoS at 17+3…lol

Someone almost sold off a case of eagles too

 

[Rob Boudrie]

The deck is stacked against investors:

- Buy are retail
- Sell at wholesale
- Pay taxes without benefit of capital gains rates
-

 

[76Too]

The deck is stacked against investors:

- Buy are retail
- Sell at wholesale
- Pay taxes without benefit of capital gains rates
-

Good lessons to be learned here. Buy cheap and stack deep for the apocalypse. Never sell.

 

[Varmint]

So weird to see gold hanging around at $2040. I feel like previous trips above $2000 were extremely brief.