Gold and silver prices are down

Varmint said:
I think a major reason why gold can’t break $2000 is that the major buyers of gold are central banks and Chinese. Both like to buy gold when it’s down, they aren’t going to buy gold at $2000, so the buying dries up and we go back to $1900.

This will continue until generalist and institutional investors start to get worried about the markets (stock or Treasury) or the debt and buy gold.
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That sounds right. I also think treasury yields and cd rates are headwinds. Maybe some folks are thinking when yields start to drop it will be time to switch over into gold. They may not be wrong.
 
So buying paper GLD isn't a good option right now?

2024 is going to be slooooow. I'm already seeing our work slowdown. If the economy slows I would think people are looking for a safe bet. Is that gold?
 
ASHDUMP said:
So buying paper GLD isn't a good option right now?

2024 is going to be slooooow. I'm already seeing our work slowdown. If the economy slows I would think people are looking for a safe bet. Is that gold?
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GLD is fine as a trade just don’t buy it as protection from a financial crisis since it’s backed by futures contracts not entirely physical metal.

Gold does well in stagflation, if there’s no recession it probably won’t do that well. Gold has help up really well despite rising interest rates and falling inflation. So it’s a good bet right now.
 
ASHDUMP said:
So buying paper GLD isn't a good option right now?

2024 is going to be slooooow. I'm already seeing our work slowdown. If the economy slows I would think people are looking for a safe bet. Is that gold?
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We are too. Clients taking much longer to get approval for spending. Or some clients denied budget where money was previously always available.

Yeah, it's been tightening for a number of months.
 
Rider said:
I had to go back to late February to find anything on the subject, so I thought it would be worth mentioning that gold is right at 1600 and silver is under 30 for the first time in a while. I'm hoping the downward trend will continue a while longer, as people think the economy is getting better, there will be no QE3, and the wheels aren't coming off in Europe.

This could be a good buying opportunity if you're still accumulating metals.
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Think about that, 11 years later silver is 20% lower and gold is 25% higher.

Silver price is much easier to manipulate.
 
Grendizer138 said:
It’s wild to think that 100-150 years ago they were producing that beautiful design, and now the US dollar coin is this

View attachment 816549
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It’s not wild at all. 150 years ago coin designs didn’t have subjects mandated by Congress and the designs didn’t have to get the blessing of not one, but two committees of political hacks.

Nor were the Seated Liberty and Barber coins anything more than humdrum to my eye.
 
Parker Schreiber said:
It’s not wild at all. 150 years ago coin designs didn’t have subjects mandated by Congress and the designs didn’t have to get the blessing of not one, but two committees of political hacks.

Nor were the Seated Liberty and Barber coins anything more than humdrum to my eye.
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I’m specifically talking about the Peace and Morgan dollars, which I think are incredible. You’re not easily impressed I guess. It’s cool.
 
Speaking of committees, the Florida quarter reverse always struck (get it!?) me as a coin that a committee couldn't agree on. A hodgepodge of unrelated ideas [laugh]

2004-50-state-quarters-coin-florida-uncirculated-reverse.jpg
 
Parker Schreiber said:
It’s not wild at all. 150 years ago coin designs didn’t have subjects mandated by Congress and the designs didn’t have to get the blessing of not one, but two committees of political hacks.

Nor were the Seated Liberty and Barber coins anything more than humdrum to my eye.
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I always thought the seated and standing liberty coins were gorgeous designs. Agree on the barber but the reverse with the eagle is nice
 
So, I have a safe with important papers in it. Trust documents, passports, birth certificates and such. I rarely use it, actually.

So I need a copy of my passport (and need to order a new one!), so off I go to the safe. The dial is covered in dust. And I grab the dial and start thinking... wtf is the combination?

I kinda remember two of the numbers, but the third is a mystery. I'm thinking it's in the forties, and stuck on 48. Nope, it doesn't work. So I try 44. Nope. Then I fiddle with variations on the other numbers. Nope.

Call my son who has opened it in the past to keep some of his important papers in it. Nope, he doesn't remember.

My wife is freaking out. WTF! Is it written down? Nope. I suggest she just relax as I'm sure it will come to me.

I'm lying in bed last night and it does come to me. My dyxlexia must have been kicking in. Instead of 48 the number is 84.

Phew... Oh, and I found a handgun in the safe I'd forgotten about!

:)
 
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bigbravehog said:
I always thought the seated and standing liberty coins were gorgeous designs. Agree on the barber but the reverse with the eagle is nice
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Here's a quote I like from 1876 on the seated liberty coinage, and let's not even talk about that eagle's neck.

Why is it we have the ugliest money of all civilized nations? The design is poor, commonplace, tasteless, characterless, and the execution is like thereunto. They have rather the appearance of tokens or mean medals. One reason for this is that the design is so inartistic, and so insignificant. That young woman sitting on nothing in particular, wearing nothing to speak of, looking over her shoulder at nothing imaginable, and bearing in her left hand something that looks like a broomstick with a woolen nightcap on it—what is she doing there?
1875cc-20c-Obv.jpg 1875cc-20c-Rev.jpg

I'm a fan of the Standing Liberty Quarter, even though they had to change the design by adding chainmail over Liberty's breast in 1917. For the dime, Barber simply used the same design as the seated coins, and for the quarter and half he cribbed the design from the Great Seal.
 
Parker Schreiber said:
Here's a quote I like from 1876 on the seated liberty coinage, and let's not even talk about that eagle's neck.

Why is it we have the ugliest money of all civilized nations? The design is poor, commonplace, tasteless, characterless, and the execution is like thereunto. They have rather the appearance of tokens or mean medals. One reason for this is that the design is so inartistic, and so insignificant. That young woman sitting on nothing in particular, wearing nothing to speak of, looking over her shoulder at nothing imaginable, and bearing in her left hand something that looks like a broomstick with a woolen nightcap on it—what is she doing there?
View attachment 816605View attachment 816606

I'm a fan of the Standing Liberty Quarter, even though they had to change the design by adding chainmail over Liberty's breast in 1917. For the dime, Barber simply used the same design as the seated coins, and for the quarter and half he cribbed the design from the Great Seal.
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Maybe @meh can start designing coins and his avatar can be the first. Lady justice with an AR. Excellent relief there.
 
richc said:
So, I have a safe with important papers in it. Trust documents, passports, birth certificates and such. I rarely use it, actually.

So I need a copy of my passport (and need to order a new one!), so off I go to the safe. The dial is covered in dust. And I grab the dial and start thinking... wtf is the combination?

I kinda remember two of the numbers, but the third is a mistery. I'm thinking it's in the forties, and stuck on 48. Nope, it doesn't work. So I try 44. Nope. Then I fiddle with variations on the other numbers. Nope.

Call my son who has opened it in the past to keep some of his important papers in it. Nope, he doesn't remember.

My wife is freaking out. WTF! Is it written down? Nope. I suggest she just relax as I'm sure it will come to me.

I'm lying in bed last night and it does come to me. My dyxlexia must have been kicking in. Instead of 48 the number is 84.

Phew... Oh, and I found a handgun in the safe I'd forgotten about!

:)
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Glad you found your Hi-Point.
 
Win said:
Speaking of committees, the Florida quarter reverse always struck (get it!?) me as a coin that a committee couldn't agree on. A hodgepodge of unrelated ideas [laugh]
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The concept for that coin was chosen along with 9 others by a 9-person committee appointed by Jeb Bush. Jeb then choose 5 concepts and sent them to the mint for feasibility. The final choice was made by public vote. When the coins were produced, the mint elected to shrink the elements, resulting in the "clip art" design:
1699926626297.png
 
Agustus Saint-Gaudens (the John Browning of US coin design) did the engraving for the classic US $20 double eagle (termed the "St Gaudens"), but also sculpted the Robert Gould Shaw Memorial that is displayed directly opposite the rarely used ceremonial main steps to the MA Statehouse.
 
Almost everything's up right now because the market is so mindbogglingly stupid as to think that less inflation is a good thing solely because it means the Fed will stop hiking, and supposedly that's bullish for stocks, because, as you know, it will be different this time.

 
richc said:
So I need a copy of my passport (and need to order a new one!), so off I go to the safe. The dial is covered in dust. And I grab the dial and start thinking... wtf is the combination?
Click to expand...
I write the combination on the upper side of a door, vertically. Black magic marker on a dark oak door is hard to read if you know it is there, good luck to a thief finding it let alone knowing which way and how many turns it is to get to the number. I also emailed a copy to my son who is in the mid west.
 

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