Gold and silver prices are down

Just an anecdotal story. Young couple moved in across the street in the fall. Very nice couple.

He's obviously quite smart and has a big job at his relatively young age. We were talking economy and impact of this economy on real estate and more. Out of the blue he starts talking about gold as he's talking about his Dad. I'm no expert but know my stuff.

He holds his hands out and makes a cube that's bigger than a 400 ounce bar of gold, and perhaps two of them. He says that's how much gold it takes to store $50K. I nicely explain to him that's not true. At today's spot prices $50K is about 30 ounces and show him how big that stack would be. No way he says. He's adamant it's a much larger volume.

Reminded me of a conversation between two guys arguing over the size of their dicks...

ETA: Just checked the math... $50K in gold would represent a cube of gold 1.43" on each side at today's prices...

ETA V2: $1 million dollars in gold at today's prices would fit in a 3.87" cube that would weigh about 40 pounds. I've eaten steaks bigger than that...
 
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A new security feature for bullion items is being introduced. It's a NFC embedded chip that can be scanned with an iPhone or android app. It looks promising so far; time will tell. These are the first I've seen available; interesting that they are being released in silver before gold, but I'm sure the gold ones will be available soon.

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A new security feature for bullion items is being introduced. It's a NFC embedded chip that can be scanned with an iPhone or android app. It looks promising so far; time will tell. These are the first I've seen available; interesting that they are being released in silver before gold, but I'm sure the gold ones will be available soon.

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Soon you’ll be getting that under your skin in two various places to buy or sell anything.
 
Been happening for several years already.


View: https://youtu.be/dl_gemn9a9E
And for the prophetic word from the Apostle John while exiled by Domitian on the island of Patmos in 90 A.D

Revelation 13:16-18
16 And he causes all, the small and the great, and the rich and the poor, and the freemen and the slaves, to be given a mark on their right hand or on their forehead,

17 And that no one may be able to buy or sell except him who has the mark, that is, the name of the beast or the number of his name.

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man; and his number is six hundred sixty-six.
 
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A new security feature for bullion items is being introduced. It's a NFC embedded chip that can be scanned with an iPhone or android app. It looks promising so far; time will tell. These are the first I've seen available; interesting that they are being released in silver before gold, but I'm sure the gold ones will be available soon.

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I'm guessing silver first because it's a bigger market. More 100 ounce bars of silver trade than gold.
 
In my experience, guns hold value better than almost any other consumer product, such as jewelry or other "valuables", but don't do well as actual "investments". I have some nice guns like a Colt Detective Special, Colt Lawman, SW Model 41, some Berettas, etc, that I bought in the late 70's/early 80's that are worth maybe 2-4 times what I paid, not accounting for inflation. Money invested in the market back then would have far outpaced the return on the guns. Obviously, truly collectible guns might be a different story.

you can't ignore inflation when calculating inflation. Guns havent kept up with inflation.
 
When it comes to guns and numismatics, I have to factor in "pride of ownership" & "enjoyment of use" into the investment. It's not like a stock that I buy for the sole purpose of thinking I will be able to sell it at a higher price at some later date.
 
When it comes to guns and numismatics, I have to factor in "pride of ownership" & "enjoyment of use" into the investment. It's not like a stock that I buy for the sole purpose of thinking I will be able to sell it at a higher price at some later date.

Absolutely, I don't care what they're worth cause I'll never sell one I like. Like if I had a $4000 Python I wouldn't sell it so the value doesn't mean much.
 
When it comes to guns and numismatics, I have to factor in "pride of ownership" & "enjoyment of use" into the investment. It's not like a stock that I buy for the sole purpose of thinking I will be able to sell it at a higher price at some later date.
Exactly how I feel! I always figured that guns, coins, and some jewelry would retain value better than "regular stuff" like clothes, cars, electronics, etc., but not to an extent where they qualified as investments. I never bought guns, coins, etc. with the idea of holding for a long term profit, although I have dealt in coins & metals for many years.
 
Both the ownership and use are key to me. I’ve been through many guitars and have several in the $1k’s. I don’t plan on selling but I do consider them to retain more value than first purchased and something that I can play bringing great joy. Guns are the same. I’m of the belief that you shouldn’t sell your guns but if I needed to trade up some mundane offerings for a finer piece then I might do it. I change in my feelings overtime but never consider those things to be straight up investments. Rather, they are retainers of value.
 
A new security feature for bullion items is being introduced. It's a NFC embedded chip that can be scanned with an iPhone or android app. It looks promising so far; time will tell. These are the first I've seen available; interesting that they are being released in silver before gold, but I'm sure the gold ones will be available soon.
Lol. When the Feds come for your PM's... They'll rat themselves out...

"beep"
"beep"
"beep"

"beep"
"
BEEP-BEEP-BEEP-BEEP" Jackpot!
 
There are many RF blockers out there. The metal is harder to disguise, but if you put it in a sealed PVC sewer pipe and run it from wall to wall, they seldom metal detect sewer pipes.

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So very true, but I still would opt for 'traditional' PMs that aren't chipped.

Why?

If I was looking for PMs hidden from the Government (when Private Precious Metal Ownership becomes illegal, in the not-to-distant-future. [smile] )
I would start with the homes that are running "RF-Blockers"... [rofl2]
Signed, Agent 7 Federal Confiscation Bureau

Don't think it will happen? Lol. How else is the Government going to cover the cost of "Covid"...?

Bye, bye PM's/401k's/Savings accounts... Private Property?
 
[cheers]

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(when Private Precious Metal Ownership becomes illegal,..... Don't think it will happen?

FDR did it in the depression. Those that held out and did not turn theirs in, made a good profit. They had to keep a low profile for a while.

"made a god profit" (typo corrected)
.
 
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One thing I’ve noticed: the premium on silver bullion is so high that vintage art bars, that always had large premiums but that I prefer, are now about the same price as silver eagles. I just bought a lot of 10 silver art bars from the 70’s for $211. Not bad.
 
Are the premiums over spot, if any, higher on the buy side as well?

Spot is under $15 per ounce right now. Not sure on the buy side but I would not sell any physical silver at spot with these premiums. Demand is high for physical silver and gold it appears. Selling at spot is a suckers game.
 
I haven’t seen any silver sell close to spot in auctions. I’ve watched several auctions to see if anything fell through the cracks and nothing
 
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