Gold and silver prices are down

My strategy with PMs has been dollar cost averaging the last 15+ years. I noticed Canadian 1/10th oz $5 CND gold BU coins with Prince (King) Charles profile…..not to take advantage of his medical condition but is it worth buying more than usual? What do you think?
 
yogi said:
My strategy with PMs has been dollar cost averaging the last 15+ years. I noticed Canadian 1/10th oz $5 CND gold BU coins with Prince (King) Charles profile…..not to take advantage of his medical condition but is it worth buying more than usual? What do you think?
Click to expand...


For me I don’t think it is worth it, but here is coin shop owner that feels differently.



View: https://youtu.be/TEok6Ow6IYg?si=XAQbv0lJCwa5vr_2
 
Director of Dutch Central talking about how central banks hold gold in case they need to do a currency reset. He used to term “gold would skyrocket” in such a scenario, explained why they hold only 4% of GDP in gold.

www.gainesvillecoins.com

Dutch Central Bank Admits It Has Prepared for a New Gold Standard

Interview reveals Dutch central bank (DNB) has equalized its gold reserves to the eurozone and rest of world. Could official gold reserves underpin a new gold standard?
www.gainesvillecoins.com www.gainesvillecoins.com
 
I am a silver guy as some know. I do find myself curious as to what is the exit strategy for you gold guys if you need to sell your gold for cash? You likely won't get spot but how much do you expect to give up below spot? Small amount who cares but say it's 50K what sweet spot is the selling point?
 
yogi said:
My strategy with PMs has been dollar cost averaging the last 15+ years. I noticed Canadian 1/10th oz $5 CND gold BU coins with Prince (King) Charles profile…..not to take advantage of his medical condition but is it worth buying more than usual? What do you think?
Click to expand...

I bought some 1/10th ounce US and Canadian coins years ago. Like you I've been buying bits and pieces here and there.

I just looked and saw I paid $125 each for the 1/10th ounce coins. Wish I could go back in time and buy a lot more!
 
HARRYM said:
I am a silver guy as some know. I do find myself curious as to what is the exit strategy for you gold guys if you need to sell your gold for cash? You likely won't get spot but how much do you expect to give up below spot? Small amount who cares but say it's 50K what sweet spot is the selling point?
Click to expand...

Harry, here's a place with published buy prices:

Sell Gold Silver Bullion | Highest Payout Online | SD Bullion

Sell Gold, Silver, Platinum, and Palladium Bullion products here to SD Bullion. Get the best payout on your bullion investments with live dynamic sell gold, platinum, palladium, and silver bid prices. See how much your bullion investments are worth and lock in your bullion product sale prices...
sdbullion.com sdbullion.com
 
richc said:
Harry, here's a place with published buy prices:

Sell Gold Silver Bullion | Highest Payout Online | SD Bullion

Sell Gold, Silver, Platinum, and Palladium Bullion products here to SD Bullion. Get the best payout on your bullion investments with live dynamic sell gold, platinum, palladium, and silver bid prices. See how much your bullion investments are worth and lock in your bullion product sale prices...
sdbullion.com sdbullion.com
Click to expand...
Thanks Rich. Looks like you need to call for a price. And if you are bailing on 50K of gold who would feel comfortable shipping it even with insurance? Ans at that you won't get spot. I have always told people I view gold and silver as hedges if all hell breaks loose. Have a bit of it (everyone can determine what a bit of it means to them) but always know your exit strategy is going to cost you a bit of it.
 
HARRYM said:
Thanks Rich. Looks like you need to call for a price. And if you are bailing on 50K of gold who would feel comfortable shipping it even with insurance? Ans at that you won't get spot. I have always told people I view gold and silver as hedges if all hell breaks loose. Have a bit of it (everyone can determine what a bit of it means to them) but always know your exit strategy is going to cost you a bit of it.
Click to expand...

Harry, if I had that much money in PM's I'd likely fly or drive there...

But, alas, my "stack" would not be a big risk to ship.
 
richc said:
Harry, if I had that much money in PM's I'd likely fly or drive there...

But, alas, my "stack" would not be a big risk to ship.
Click to expand...
LOL, I have told this to several who are getting sucked into converting their IRAS into Gold. One I tell them JFC DON"T DO IT and two if you are hell bent on doing it you better know full well your exit strategy.
 
HARRYM said:
I am a silver guy as some know. I do find myself curious as to what is the exit strategy for you gold guys if you need to sell your gold for cash? You likely won't get spot but how much do you expect to give up below spot? Small amount who cares but say it's 50K what sweet spot is the selling point?
Click to expand...
I have bought and sold gold coins with forum members by posting and responding to posts in this thread.
I think the price was about $25. over spot.

I have bought most of my gold from Boston Bullion. He also buys gold, but the local town laws require him to check your ID and record the transaction, so I have never sold any of my gold to him. I prefer not having a paper trail.
He lists his buy and sell prices on his website.
 
richc said:
DOH!

View attachment 849914
Click to expand...

This is good news for gold. The whole Goldilocks scenario the stock market has been touting means Fed rate cuts, low inflation and soft or no landing. While this fantasy scenario is mildly bullish for gold, it’s not going to get gold going gangbusters.

What will really be good for gold is this scenario imploding due to rising inflation and no Fed cuts, which will morph into stagflation and massive government spending, Fed throwing in the towel on inflation and doing yield curve control. This is what gets gold to $3000 and $4000.

This is what today’s CPI report is pointing towards. But in the short term it hurts gold.
 
HARRYM said:
I am a silver guy as some know. I do find myself curious as to what is the exit strategy for you gold guys if you need to sell your gold for cash? You likely won't get spot but how much do you expect to give up below spot? Small amount who cares but say it's 50K what sweet spot is the selling point?
Click to expand...
Giving it all to my daughter. She will have to figure that out.... Lol
 
yogi said:
Wasn’t planning to….the original plastic cracked and it has a faint patina and a couple of dark corners on the other side…..should I put it in a container?
Click to expand...

Absolutely, in fact I put everything silver in an airtight container, except the ones that come in 20/25 coin mint containers. People say even those aren’t airtight but I haven’t notified those tarnishing. And I handle them with those white gloves.

I buy the containers off EBay but I’m sure there’s other places sell them.
 
DJBrad said:
Really discouraging actually.
Click to expand...

You need the patience of Job to invest in miners. The gold is going back to $1600 narrative has to die before miners can take off. We’re not quite there yet.

I sold Osino Resources too soon (after the Dundee buyout news), a mystery (Chinese?) buyer came in last second with a 30% higher cash offer for the company.

This is great news for juniors.
 

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