What ever happened to Rider? I had drinks with him a few times years ago. Remember him being a good guy.
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Gold and silver prices are down
- Thread starter Rider
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What ever happened to Rider? I had drinks with him a few times years ago. Remember him being a good guy.
$18.01 this morning.
Varmint
NES Member
Gold and silver spot prices up a lot today but the corresponding ETFs are down. That's interesting!
HappyHarry
NES Member
Varmint
NES Member
Are you linking the Spot or Futures price?
Seems like maybe Yahoo and Apmex quote the change as the change since midnight - while other's quote the change since previous close. They showed the same number you linked, or close, but the change was like 40 cents, not 5 cents.
HappyHarry
NES Member
Kitco phone app. I assume it shows current spot. As you say, it must reference a different opening price than Yahoo and Apmex use.
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What would be really nice is a graph of the round trip hit (% lost if buying and selling Eagles on the same day) vs. spot price of silver.
richc
NES Member
What would that tell you?
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Whereabouts Unknown, last seen almost 2 years ago, which is like 5 in non-internet years...
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If could tell "You'll get 85% of value if you sell today, but if the price goes up, you will get 92% of spot, or if it goes down you will only get 75%".
All useful information for evaluating the risk/reward probabilities.
With any investment, it has to go up for you to break even. With the metals, low prices would seem to necessitate a larger price jump to break even when prices are low.
richc
NES Member
My instincts tell me the buy/sell spread is much more closely correlated to supply/demand than price.
I've bought during slack demand times for slightly over spot. I couldn't do that today. There does not seem to be enough physical gold and silver supply at the moment, evidenced by the lack of inventory at many dealers.
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No doubt true, but the lower prices also increase demand.
Gold down 1.6% as of now.
Varmint
NES Member
Gold, silver and miners following the S&P500 up and down. Not a good sign.
Yup. You would think the opposite but the .Vix was rising at the same time so volatility is pressuring everything.
Varmint
NES Member
It might just be that both have reach the high end of their trading range and are correcting. There's not enough news to drive gold up as a fear trade so it's just continuing the healthy correction after a huge run up.
richc
NES Member
Anyone missing some gold bars?
www.bloomberg.com
Have You Seen My Gold Bars? I Think I Left Them on the Train
The ownership of nearly $200,000 worth of gold bars left on a Swiss commuter train last year remains a mystery, leaving an even bigger question: who commutes with a bag of gold in the first place?
www.bloomberg.com
Varmint
NES Member
Anyone missing some gold bars?
Have You Seen My Gold Bars? I Think I Left Them on the Train
The ownership of nearly $200,000 worth of gold bars left on a Swiss commuter train last year remains a mystery, leaving an even bigger question: who commutes with a bag of gold in the first place?
Must be nice to have so much gold you don't notice losing 7 lbs of the stuff.
Funny thing- Great Bear is up another 13% today. Is a big miner going to takeover? That’s another huge gain from this morning.
Varmint
NES Member
Yeah, saw that - it's not huge volume so maybe just retail investors got wind of it? Trading their Hertz shares for another hot stock?
rep308
NES Member
I just inherited real silverware, a silver tea set and other silver dishes. These were from my Great Grandmother, circa 1910's The appraisal from Longs Jewelry done in the mid 1980's says it's worth over $10K, and yes I know appraisals are a joke. The silverware is engraved with a C but the tea set is not.
I'm thinking they are all going to be melted down but am open to ideas from the board. Anyone have an "in" at a refinary?
I'm thinking they are all going to be melted down but am open to ideas from the board. Anyone have an "in" at a refinary?
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First thing, weigh it and calculate the melt value at spot (you'll do well to get 50% of that selling it as scrap silver). If it's sterling it's 92.5% silver by weight.
Varmint
NES Member
Sit on it for now if you don't need the money. Wait until Uber drivers are telling you to buy junk silver, then it'll be easy to sell. That's probably 2-3 years away.
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Lol, like the old EF Hutton commercials except it will be "Well my Uber driver says . . . "
rep308
NES Member
I think it is stirling as it has fancy proof marks that I am decoding. I have to liquidate the estate as I am not the only beneficiary. None of the 20 to 30 year old's in the family want it. I'm checking out a refinery that was suggested to me to hopefully cut out the middleman.
Varmint
NES Member
See if you can trade it for something or buy off their share at current spot price. That'll be a big win in a year or two.
Varmint
NES Member
So $2 over spot for junk silver - looks like prices are starting to return to normal. I think pre-Covid this stuff was like $1 over spot?
Billsail
NES Member
Keep in mind when you weigh the pieces, the knife handles are hollow, and usually filled with something like cement to make them feel more substantial. Might help with balance as well. Refiners, and people buying silver know this, and will tear the handles apart before weighing.
I am no expert by any means but didn't most silversmiths mark their work in some fashion? Check on line auction sites for similar pieces you might be able to get more than melt value.
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