Win
NES Member
I might be the only one here who actually buys platinum but it was starting to get down in solid buy territory for me!
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Gold and silver prices are down
- Thread starter Rider
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Varmint
NES Member
loves it but keep in mind if stocks start to really tank like last week, gold will sell off as margin investors and even all investors panic and sell everything.
richc
NES Member
Varmint
NES Member
Agreed... but I'm in it for the long term. Or next week if prices double!
yeah Isold some gold miners this morning and plan to buy back if they crash, as they're starting to as we speak.
could be an interesting day, might see a big rally if the Fed intervenes, or if not . . . What's the stock market limiter on down days? 10%?
richc
NES Member
| Circuit breakers Circuit-breaker points represent the thresholds at which trading is halted market-wide for single-day declines in the S&P 500 Index. Circuit breakers halt trading on the nation's stock markets during dramatic drops and are set at 7%, 13%, and 20% of the closing price for the previous day. The circuit breakers are calculated daily. Level 1 halt (7%)
The SEC implemented a new marketplace rule, known as the Limit Up-Limit Down Rule, designed to prevent trades from executing outside of price bands established throughout the day for individual stocks and exchange-traded funds (ETFs). |
I see the fed cut 50 points I come check the gold and silver down thread. I’m a simple guy.
Great feedback guys and I’m long for phys gold too. I’m glad I bought early and glad I bought before ebay started charging sales tax. Looking at a large land acquisition instead at the moment. Plenty of guns and ammo. Gather friends and family to increase the support and defense.
Having at least 10 coins is a great way to ease out of a bad situation. It’s good to pay off debts now rather then hold them. I’m looking at holding a bit more if there ever is a big dip in phys prices but I think that is long over. This is the only platinum I have on hand-
The world will keep going round and round for awhile fed by the anxieties of the current age. The nations will still continue planting, building, eating, drinking, and marrying as they always have.
Great feedback guys and I’m long for phys gold too. I’m glad I bought early and glad I bought before ebay started charging sales tax. Looking at a large land acquisition instead at the moment. Plenty of guns and ammo. Gather friends and family to increase the support and defense.
Having at least 10 coins is a great way to ease out of a bad situation. It’s good to pay off debts now rather then hold them. I’m looking at holding a bit more if there ever is a big dip in phys prices but I think that is long over. This is the only platinum I have on hand-
The world will keep going round and round for awhile fed by the anxieties of the current age. The nations will still continue planting, building, eating, drinking, and marrying as they always have.
Win
NES Member
Platinum is starting to look interesting again. I like platinum under $900, love it under $850, spend all of my emergency savings on it under $800 (I won't really but I feel like it ![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
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Varmint
NES Member
Platinum is starting to look interesting again. I like platinum under $900, love it under $850, spend all of my emergency savings on it under $800 (I won't really but I feel like it
You would think at some point car makers would say enough of $2800 paladium and switch back to Pt. My understanding is the amount of Paladium in a car is so small they don't care how much it costs.
I just stick to monetary metals, gold and silver. I have a couple other industrial mining stocks like Zinc or Uranium, but always regret buying them.
Varmint
NES Member
It could be something like the smart money slowly dumping stocks into the hands of the dumb money. It's definitely odd cause it's up 100, down 100, and there's no Fed or virus news driving it up or down. Makes me think its traders or computers driving it.
Bumping those Maple Leafs on behalf of a motivated family member who is now willing to sell for $1575/oz, currently 5.9% below spot.
Varmint
NES Member
yeah once the stock market goes into full panic mode, and 5% down certainly qualifies, gold will start to sell off as traders liquidate anything not nailed down.
Varmint
NES Member
Apmex and MCM, and maybe others, are now handling tax properly - you can add three rolls of silver coins to your cart and pay no tax!
Unfortunately, despite the low futures price of silver, the price of physical is pretty high right now. And Ebay Bucks deals are only 5% these days.
Then again I have no cash anyway, lol.
Unfortunately, despite the low futures price of silver, the price of physical is pretty high right now. And Ebay Bucks deals are only 5% these days.
Then again I have no cash anyway, lol.
Futures down 1,000 now. Gold going sky high?
headednorth
NES Member
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Gold, silver, stocks and bonds all down today. People seem to be selling whatever
Varmint
NES Member
gold could correct to $1600 if there's panic selling. A lot of gold traders are hugely leveraged, and will sell if everyone hits the panic button.
The Fed ramped up its overnight lending but will need to do more to stop the slide. That's when gold will skyrocket, when the Fed dumps money on the market and people stop panic selling everything.
Win
NES Member
Almost can't believe I'm saying this but if the stock market keeps this up I might have to increase my 401K contributions! Also watching platinum flirt with $800. I'm trying to resist the temptation but I won't be able to if it goes under $750. Surprisingly, to me anyway, in the numismatic coin auctions that I watch on Heritage and a few on Ebay sale prices have remained strong so far. I was watching to see if any coins I'd be interested in fell through the cracks but none have. All the collector and investor coins that I have tracked have gone higher than heritage estimates.
Varmint
NES Member
See if your 401k lets you buy stocks - my Fidelity has something called Brokeragelink - you transfer 401k money to it and then can trade.
Gold and silver mining stocks are having the fire sale of the decade right now - these are fairly low volume stocks so if one seller gets spooked it can move the price - if a lot of sellers get spooked, they can go 70% off for no reason - an oil price war is great news for mining companies whose biggest cost is often energy - and $1500 gold is great news for them - they'll be reporting big earnings as long as gold stays over $1400.
The same thing happened in 2008 - gold and mining stocks had a massive selloff during the panic, and then very quickly started a massive 3-year rally. Gold & miners bottomed 5 months before stocks back then.
Just got 2 each 10 ounce bars for $158 each.....cash and carry.
Adding to the pile.
Adding to the pile.
Varmint
NES Member
Silver is down to almost $15/oz, but unfornately there's still $4-5 premiums on silver coins - that's crazy - the futures market is going to detach from the physical market at this rate.
There are a few items that are getting reasonably priced again, like 90% quarters ($1.50 over spot) and silver maples ($3 over spot for 25).
www.apmex.com
www.apmex.com
There are a few items that are getting reasonably priced again, like 90% quarters ($1.50 over spot) and silver maples ($3 over spot for 25).
Buy $10 Face Value | 90% Junk Silver Coin Roll | APMEX
90% Silver Coins - $10 Face Value Roll | Largest selection & fast free shipping on orders $199+.
Buy 1 oz Canadian Silver Maple Leaf Coin Any Year | APMEX
1 oz Canadian Silver Maple Leaf Coin BU (Random Year) | Largest selection & fast free shipping on orders $199+.
$14.74 as of 12:10pm shit!!!Silver is down to almost $15/oz, but unfornately there's still $4-5 premiums on silver coins - that's crazy - the futures market is going to detach from the physical market at this rate.
There are a few items that are getting reasonably priced again, like 90% quarters ($1.50 over spot) and silver maples ($3 over spot for 25).
Buy $10 Face Value | 90% Junk Silver Coin Roll | APMEX
90% Silver Coins - $10 Face Value Roll | Largest selection & fast free shipping on orders $199+.
Buy 1 oz Canadian Silver Maple Leaf Coin Any Year | APMEX
1 oz Canadian Silver Maple Leaf Coin BU (Random Year) | Largest selection & fast free shipping on orders $199+.
I thought I bought at about the bottom guess not. Curious what it will close at.....may have to go buy another 10 ounces tomorrow
But .....I just buy when it's below $16.......it'll go up over the year.
I don't buy coins just bars.
RumRunner
NES Member
I bought some a couple weeks ago, figured it was pretty low and may go up as the market gets crushed. I was wrong, oh well, bought some more today as it's now lower than my last buy. Hopefully it doesn't tank more, I can't afford to keep buying as it goes lower LOL.
In a year it'll be over $20 again according to my reading. I'd love to see a 2011 spike.
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You can't even get spot for junk silver coins unless you negotiate a private sale rather than deal with a PM broker.
The issue is the buy/sell spread; not the premium amount. I doubt that junk silver is any bargain when measured on that basis (you can always get spot for American Eagles).
Most of my options are mutual funds only and these mining stocks are 24-32% down right now. Might wait for lower bottom?
Varmint
NES Member
yeah I bought my junk silver below spot, but to me the silver spot is more important than the spread or premium. When silver is $40, we'll only care about the purchase price we paid.
I'm not buying physical now, prices are still too high despite low silver futures price.
$40?
I'd be happy with $30 and sell. Most of it I've purchased as $20 or less. Now that it's tanking I'm going to buy a bit more. Paying close attention to the price later today and see how much I'll buy tomorrow.
Varmint
NES Member
most of the mining stocks are down 50-70% in a few weeks when their fundamentals have improved. Buying opportunity of the century, but if the stock market drops 5-10% again they'll get a LOT cheaper.
RumRunner
NES Member
So first time I've seen most of the 1oz silver bars I've been buying out of stock. Wonder if it's a supply issue or a run on people buying right now. May need to switch to 5oz bars
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