Gold and silver prices are down

Trafficdiver said:
14 years does not make a trend permanent.

When the dollar crashes a pb&j sandwich will be worth 2 qudrillion.
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Sure, I just think it’s too difficult to deal with non-monetary metals, so I stick to gold and silver. They also can have really bad cycles.

The only sure thing is the dollar going down.

We were just vacationing in Indonesia, where a nice meal for four is $300,000. It’s a taste of our future.
 
In God We Trust said:
Silver has been doing jack shit ever since I bought in. This seems to be the story of my life when it comes to investing. I’m probably gonna buy a couple hundred ounces in the near future just for fun, but I don’t see it going up any time soon.
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I think silver is still undervalued and has huge potential. As I said upthread, $100/oz wouldn't surprise me at all and I feel confident that we'll see at least ~$40/oz this year.

Gold, on the other hand... man I wish I had some clue. It doesn't feel good to me to by buying an asset at its at its all-time, record high price, but at the same time... could it be like BTC and still be near the bottom of a huge spike?
 
Freddy Q said:
I think silver is still undervalued and has huge potential. As I said upthread, $100/oz wouldn't surprise me at all and I feel confident that we'll see at least ~$40/oz this year.

Gold, on the other hand... man I wish I had some clue. It doesn't feel good to me to by buying an asset at its at its all-time, record high price, but at the same time... could it be like BTC and still be near the bottom of a huge spike?
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I’m in the same camp. I’m afraid to buy gold at this price, but I know I’m going to regret it in a year.
 
Freddy Q said:
I think silver is still undervalued and has huge potential. As I said upthread, $100/oz wouldn't surprise me at all and I feel confident that we'll see at least ~$40/oz this year.

Gold, on the other hand... man I wish I had some clue. It doesn't feel good to me to by buying an asset at its at its all-time, record high price, but at the same time... could it be like BTC and still be near the bottom of a huge spike?
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Typical silver miner makes like $7 an ounce profit at $32 silver. At $100 silver they’d be making $75/oz, there’s a 10 bagger right there. Probably a 20 bagger cause silver miners are currently priced for more like $25 silver.
 
Varmint said:
Typical silver miner makes like $7 an ounce profit at $32 silver. At $100 silver they’d be making $75/oz, there’s a 10 bagger right there. Probably a 20 bagger cause silver miners are currently priced for more like $25 silver.
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Can you explain that like I’m retarded?
 
In God We Trust said:
Can you explain that like I’m retarded?
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😆 sorry. So for a typical silver miner it costs about $25/oz to get their silver out of the mine and process it. At $32 silver they make $7/oz.

If the silver price went to $100, and that cost stayed at $25, which would depend on inflation, now they’re making $75/oz, so their profit has gone up 1000%, and the stock would likely follow.

This happened back in the 2000 to 2011 bull market, and also in the 1970s.

The opposite happened more recently in 2021-2022, the cost to mine silver went up, due to crazy inflation, much faster than the price of silver, so the mining stocks got crushed.
 
It gets really crazy if you look at marginal silver miners, called optionality plays, who have a ton of silver in the ground, but it’s expensive to mine, so it might cost them $31/oz to mine. They barely make any money so they probably don’t even operate, or in the case of a junior developer, nobody will fund them to build that mine. The stock is nearly worthless.

But at $50 silver, suddenly that mine is now making $20/oz instead of $1/oz. So the stock is now worth 20X what it was.

In a big silver bull market you say crazy stock runs for this reason.
 
Varmint said:
It gets really crazy if you look at marginal silver miners, called optionality plays, who have a ton of silver in the ground, but it’s expensive to mine, so it might cost them $31/oz to mine. They barely make any money so they probably don’t even operate, or in the case of a junior developer, nobody will fund them to build that mine. The stock is nearly worthless.

But at $50 silver, suddenly that mine is now making $20/oz instead of $1/oz. So the stock is now worth 20X what it was.

In a big silver bull market you say crazy stock runs for this reason.
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Any good stocks to look into?
 
In God We Trust said:
Any good stocks to look into?
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I don’t like to recommend individual mining stocks cause it’s so risky. I built my own ETF basically to spread out the risk, and try to limit individual position sizes to 5% of the miner portfolio.

A safer way to go is either buy like 5 of the top companies (AEM, KGC, NEM etc) or buy an ETF like GDXJ or SILJ. You won’t get a 10x but could get a 2x in the case of GDXJ or 3X for SILJ.
 
The 10x gains are best achieved in silver juniors. This is a list of the companies most leveraged to silver, meaning they’re more likely to benefit from a strong silver price. Most silver is mined as a byproduct of other mining of base metals. These companies are the few juniors that are primarily silver (and gold) companies. None are base metal miners. I own all but #2.

In order of leverage.

1) Discovery Silver (DSVSF, DSV.TO)
2) Vizsla Silver (VZLA, VZLA.V)
3) I-80 Gold (IAUX, IAU.TO)
4) GoGold Silver & Gold (GLGDF, GGD.TO)
5) AbraSilver Resources (ABBRF, ABRA.V)
6) Skeena Gold & Silver (SKE, SKE.TO)
7) Dolly Varden Silver (DOLLF, DV.V)
8) Thesis Gold (THSGF, TAU.V)
9) Integra Resources (ITRG, ITR.V)
10) Liberty Gold (LGDTF, LGD.TO)
11) Osisko Development (ODV, ODV.V)
 
In God We Trust said:
I’m in the same camp. I’m afraid to buy gold at this price, but I know I’m going to regret it in a year.
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If you don't get it, and it goes to $10K, you will regret it.

If you get it, and it goes down to $1500, you'll still have an once of gold.

I'll stop buying gold at $69,420 per ounce. Same with silver and same with platinum.

At least for a few weeks.
 
Trafficdiver said:
If you don't get it, and it goes to $10K, you will regret it.

If you get it, and it goes down to $1500, you'll still have an once of gold.

I'll stop buying gold at $69,420 per ounce. Same with silver and same with platinum.

At least for a few weeks.
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I don’t regret not buying more junior gold miners when they were dirt cheap . . . cause they’re still dirt cheap. 😆
 
Varmint said:
I don’t regret not buying more junior gold miners when they were dirt cheap . . . cause they’re still dirt cheap. 😆
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You are trading stocks. I am talking about buying an ounce of physical gold.

Shadow And Bone Sb GIF by NETFLIX
 
55_grain said:
For folks in MA, some purchases of metals over $1000 are the sales tax exempt, but make sure before you complete the buy.
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I know this is a thing - I took advantage buying a full set of ASEs - but I"ve been trying to find more information (really, ANY information) about this exemption and I've been pretty unsuccessful. I guess my google-fu is weak or something, but I'm coming up short on finding specifics on what exactly is exempt and what isn't. Can anybody point me in the right direction?
 
Freddy Q said:
I know this is a thing - I took advantage buying a full set of ASEs - but I"ve been trying to find more information (really, ANY information) about this exemption and I've been pretty unsuccessful. I guess my google-fu is weak or something, but I'm coming up short on finding specifics on what exactly is exempt and what isn't. Can anybody point me in the right direction?
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1000049415.jpg
 
Jeeze I know somebody would be able to find that page fast but.. damn! Thank you sir, appreciate it.
I'm trying to figure out if a 1/4 AGE in a 14k bezel pendant would be exempt. Seems like thats a mix of exempt (the 1/4 eagle, which is under 1k) and non-exempt (the pendant that its in, which puts it up over 1k) which I'd assume means, its not exempt :mad:
 
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Freddy Q said:
Jeeze I know somebody would be able to find that page fast but.. damn! Thank you sir, really appreciate it.
I'm trying to figure out if a 1/4 AGE in a 14k bezel pendant would be exempt. Seems like thats a mix of exempt (the eagle) and non-exempt (the pendant that its in) which I'd assume means the whole shebang is not exempt :mad:
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Technically, the bezel would not be exempt. The coin would be exempt, but the total purchase of exempt items has to be over $1,000. Interpretation can get a little dicey - if you soldered a half dozen gold eagles together to make a bracelet, then you've fabricated a piece of jewelry, which would not be exempt. If you sell the 6 gold eagles before soldering, then charge labor to solder them together, then they would be exempt.
 
Hey guys, I'm looking to see if anyone has had experience selling silver and gold and thought this may be a good place to ask.


I am looking to liquidate a portion of my collection to help fund some expenses for an upcoming real estate purchase. Until today I've done a lot more purchasing and holding of precious metals than buying, but having some liquidity will help me on this.


Does anyone have any recommendations on the best way to sell? I'm located near Worcester so any coin shops or bullion dealers that buy at fair prices nearby? Also if selling privately how do you find buyers? I would rather not advertise publicly about holding metals…. I would think this forum may be a good spot since most people here are pretty rational (and likely armed)


Any feedback would be greatly appreciated!
 
Colt_176 said:
Hey guys, I'm looking to see if anyone has had experience selling silver and gold and thought this may be a good place to ask.


I am looking to liquidate a portion of my collection to help fund some expenses for an upcoming real estate purchase. Until today I've done a lot more purchasing and holding of precious metals than buying, but having some liquidity will help me on this.


Does anyone have any recommendations on the best way to sell? I'm located near Worcester so any coin shops or bullion dealers that buy at fair prices nearby? Also if selling privately how do you find buyers? I would rather not advertise publicly about holding metals…. I would think this forum may be a good spot since most people here are pretty rational (and likely armed)


Any feedback would be greatly appreciated!
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I know a buddy of mine is on another forum board and a guy on there has no problem selling gold/silver in the classified section on there. I would try posting a few things on here and see how it goes .........
 
Colt_176 said:
Hey guys, I'm looking to see if anyone has had experience selling silver and gold and thought this may be a good place to ask.


I am looking to liquidate a portion of my collection to help fund some expenses for an upcoming real estate purchase. Until today I've done a lot more purchasing and holding of precious metals than buying, but having some liquidity will help me on this.


Does anyone have any recommendations on the best way to sell? I'm located near Worcester so any coin shops or bullion dealers that buy at fair prices nearby? Also if selling privately how do you find buyers? I would rather not advertise publicly about holding metals…. I would think this forum may be a good spot since most people here are pretty rational (and likely armed)


Any feedback would be greatly appreciated!
Click to expand...
I like to sell at shows. You get a chance to offer your coins/bullion to a large number of dealers in a short amount of time. What I've found is that different items catch different dealers eye. I usually end up selling a few items to several different dealers within about an hour when I go this route.
 
Colt_176 said:
Hey guys, I'm looking to see if anyone has had experience selling silver and gold and thought this may be a good place to ask.


I am looking to liquidate a portion of my collection to help fund some expenses for an upcoming real estate purchase. Until today I've done a lot more purchasing and holding of precious metals than buying, but having some liquidity will help me on this.


Does anyone have any recommendations on the best way to sell? I'm located near Worcester so any coin shops or bullion dealers that buy at fair prices nearby? Also if selling privately how do you find buyers? I would rather not advertise publicly about holding metals…. I would think this forum may be a good spot since most people here are pretty rational (and likely armed)


Any feedback would be greatly appreciated!
Click to expand...
bostonbullion.com

Home - Boston Bullion

bostonbullion.com bostonbullion.com

You just have to make it past his tarantula's and you're good.
 
Win said:
I like to sell at shows. You get a chance to offer your coins/bullion to a large number of dealers in a short amount of time. What I've found is that different items catch different dealers eye. I usually end up selling a few items to several different dealers within about an hour when I go this route.
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What do you see things like US and Canadian 1 oz and US 90% silver selling for in relation to spot?
 

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