Win
NES Member
Looks to me like gold has a lot of buying support around $1325 and selling pressure around $1350. Silver similarly can't get below $16 or up to $17. It will be interesting to see which side of these pressures prevail...
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Gold and silver prices are down
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Varmint
NES Member
Technicals mostly point toward the break being to the upside, if so it’s be a short trip to $1600 and $22.
Would love to see it break down, I’d rather buy gold at $1180 and silver at $15.
This could all take a while though. Months even a year.
Varmint
NES Member
Wow, gold, silver and miners are really holding up. You'd think with stocks and industrials selling off, silver would take a hit. They say silver shorts are at an all-time high. It'll take off like a rocket once if a pop forces them to start covering.
Win
NES Member
A couple of tidbits of information that might be of interest to someone:
1) I recently opened a safe deposit box with Rockland Trust. Their safe deposit boxes start at $50/year. I think that was for a 4X4X24 box. I got a 5X9X24 box for $139year. I know many people have concerns about safe deposit boxes and I can appreciate that. You could, however, get a safe deposit box to split a portion of your collection or simply use the safe deposit box when you're out of town.
2) There is a company that will insure your precious metals or numismatic coins - About Cleland & Associates Unfortunately, when I spoke with them I discovered, that their minimum policy is $1,000/year. This is for insuring far more than what I currently own. I don't know if anyone here has that sizable of a collection, but in case you do, insurance is available. Of note, you have to have a certain rating on your safe and have a home security system if you want to have your collection insured at your home.
1) I recently opened a safe deposit box with Rockland Trust. Their safe deposit boxes start at $50/year. I think that was for a 4X4X24 box. I got a 5X9X24 box for $139year. I know many people have concerns about safe deposit boxes and I can appreciate that. You could, however, get a safe deposit box to split a portion of your collection or simply use the safe deposit box when you're out of town.
2) There is a company that will insure your precious metals or numismatic coins - About Cleland & Associates Unfortunately, when I spoke with them I discovered, that their minimum policy is $1,000/year. This is for insuring far more than what I currently own. I don't know if anyone here has that sizable of a collection, but in case you do, insurance is available. Of note, you have to have a certain rating on your safe and have a home security system if you want to have your collection insured at your home.
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For me, safety deposit boxes are for stocks/bonds/savings bonds, or any other paper Doc's.
Maybe a few PM's to be used as "Paper Weights"...
Maybe a few PM's to be used as "Paper Weights"...
Win
NES Member
To add some context, the guy who owns this coin shop, Victorian Rare Coin is a friend of mine. We live in the same town. I see him almost every week, sometimes more than once/week. We talk about coins and PMs. He has encouraged me for several years now to get a safe deposit box. He says that none of the coin dealers keep their numismatic or PM coins in their homes. He's been in the business for decades, knows a lot of folks, I'm sure he's right about that.
I'm not trying to tell people what is best for them. I'm just trying to pass along some knowledge that I was given. People should do what they are comfortable with.
I'm not trying to tell people what is best for them. I'm just trying to pass along some knowledge that I was given. People should do what they are comfortable with.
Varmint
NES Member
5x9x24”? SBR?
Varmint
NES Member
I'm still not convinced the rally in gold/silver/miners is going to last. Still seems like it's just a weak dollar, not any real buying in the sector.
Holding off more buying for a pullback.
Holding off more buying for a pullback.
Win
NES Member
Yes I got the 5x9x24. What’s SBR?
Win
NES Member
Where do you think gold might settle? What would constitute a buying opportunity for you?
Varmint
NES Member
I think in 1-2 years gold will be $1600 or higher, but before then we’ll probably see $1280, maybe very soon, and maybe 1180. I’ll keep accumulating below $1300 but not buying at $1350. I’m buying more silver than gold though. Silver is dirt cheap.
I’ve been buying miners and silver with my 401k money. Both look like they’ve bottomed.
Varmint
NES Member
Is anyone buying gold/silver? This thread seems dead.
I think the short-term rally in gold and maybe also silver is over, it's rolling over, as the dollar is getting get a bounce. The entire world was bearish on the dollar, which ensures it'll rally.
But the dollar bounce might be fairly short term and then it'll be back to the races for PMs. I hope we get some good prices before that happens.
I think the short-term rally in gold and maybe also silver is over, it's rolling over, as the dollar is getting get a bounce. The entire world was bearish on the dollar, which ensures it'll rally.
But the dollar bounce might be fairly short term and then it'll be back to the races for PMs. I hope we get some good prices before that happens.
richc
NES Member
I won't pay these prices either. Agreed they are too high to buy at the moment. With one exception...
You turned me on to those eBay Bucks promotions. I just bought an MS 62 St Gaudens $20 gold piece for $1450. Less $100 eBay Bucks it was $1350 which is $50 over melt. For a early 1900's coin in uncirculated condition and PCGS rated. And considered the most beautiful coin ever created by our country.
You turned me on to those eBay Bucks promotions. I just bought an MS 62 St Gaudens $20 gold piece for $1450. Less $100 eBay Bucks it was $1350 which is $50 over melt. For a early 1900's coin in uncirculated condition and PCGS rated. And considered the most beautiful coin ever created by our country.
Varmint
NES Member
I'm glad you're getting the Bucks, it's by far the best way to buy gold & silver! i maxed out my Bucks last quarter at $500.
Ebay also went crazy the end of March with their coupons too (no bucks just 15/20% coupons). I got like 45 silver coins for $15/oz. (the limit was $100 off on the 20% coupon).
Even yesterday (8% Bucks), you could get silver coins for $18/oz.
Win
NES Member
I'm still buying. The current prices are higher than they have been recently but not higher than I expect them to be in the future. I'm watching several Liberty $20 pieces in a couple of Heritage auctions that end later this week. Picking a few silver rounds here and there where I see opportunity. Also, picking up several buffalo nickels because I like them 
That's exactly what I was thinking.
Varmint
NES Member
It's crunch time, is gold gonna stay in its small trading range or break down through it?
Win
NES Member
I hope it breaks down through it! But I don't have much of a real guess. People consistently surprise me with their confidence in the economy and US dollar. Maybe they will sell?
Win
NES Member
I won this 1856 Liberty $20 yesterday evening. The premiums paid for certified numismatic gold coins are the lowest that I can recall them being. For common type 3 Libertys and Saints there doesn't appear to be any premium. This 1856 is a Type 1 $20 Liberty - substantially rarer than type 2 and 3s. There are a total of 747 1856 $20 Libertys certified by PCGS and NGC in all grades.
From PCGS coin facts:
More information: 1856 $20 (Regular Strike) - PCGS CoinFacts
Some collectors would prefer a higher graded coin where the fields were cleaner and the devices showed more detail. For myself, I prefer coins that are not only historical but also took part in history. I enjoy knowing that my coin was used in our history and enjoy contemplating what they might have been used for and the stories that they might have.
I paid $1440.00 for this coin in Heritage's April 2018 US coins signature auction...
From PCGS coin facts:
More information: 1856 $20 (Regular Strike) - PCGS CoinFacts
Some collectors would prefer a higher graded coin where the fields were cleaner and the devices showed more detail. For myself, I prefer coins that are not only historical but also took part in history. I enjoy knowing that my coin was used in our history and enjoy contemplating what they might have been used for and the stories that they might have.
I paid $1440.00 for this coin in Heritage's April 2018 US coins signature auction...
Attachments
HappyHarry
NES Member
Is that including the buyer's premium? If so, you did well; the current Greysheet bid is $1600 in VF20. You paid less than a $200 premium over melt value for a piece of history; and you're right about the near-zero premium over melt even for nice MS62-63 $20 gold pieces.
Win
NES Member
Yes - including BP. They give me a 1% discount for paying by e-check which covered shipping. Thanks for the Greysheet info. I didn't know that.
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Still buying here. Silver Eagles and Maples only... except when I find old-stamped Engelhard Prospectors and Globe Bars.
Varmint
NES Member
We're getting close to the bottom of the recent trading range for gold/silver. I'm debating whether to buy some now or wait, I feel like it'll break down through the trading range in May.
ToddDubya
NES Member
Win
NES Member
How far down do you think it might go? Personally I just keep buying when I have money.
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Still believe it's a mistake to but PMs. they have shown time and time again, they will never tolerate PM threatening the fiat currency they create and distribute.
Varmint
NES Member
I tend to buy PMs when there’s EBay bucks, or the price is low, ideally both. But for my 401k money I’m waiting for sub $1300 gold and sub $16 silver, but I feel like sooner (May) or later (a few months), both will be trending up for good. Once the Fed is forced to change their tune, it’ll be off to the races. I want to be in all my positions before then.
It probably depends on how long the dollar rallies, if the dollar index rallies over 94, gold might go way down to the $1180 lows. I’d love to see that.
Varmint
NES Member
That would make the PMs you own skyrocket in value.
They’re probably already manipulating gold and silver, the central banks buy a lot of gold, and someone seems to waltz in and sell a ton of gold whenever it hits key resistance levels. And the government punishes gold buyers by treating it as a collectible rather than a currency or investment.
All this effort to suppress gold and silver just makes me want to own them.
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