Gold and silver prices are down

[cockpitbob]

Cool someone makes them with the correct wording. You murder members of your family and village. You kill the guys in the other village that's at war with you.

 

[richc]

Just wanted to share some experiences with JMBullion on eBay.

I've bought a few things over time from them. No problems other than crappy packaging. I always wondered if they got their packing out of a post office dumpster. But they were never packaged the way Apmex does.

So I order some 1 Kilo Australian silver coins. They are really cool! Yes, you pay a bit more of a premium but I just wanted a couple for the collection.

2011 1 Kilo Australian Silver Rabbit Coin (BU) | eBay

FYI they were about $545 when I bought them. A good price.

These come packaged in a protective plastic container. And these were just tossed in a box with no wrapping or protection and plenty of room for them to bang around. And yes they broke.

JMBullion has good ratings on eBay. I don't think this kind of problem is common with them, but whoever packaged this was clearly new, indifferent or stoned. They readily agreed to allow me to return them for a refund.

So just be aware that JMBullion tends to do a crappy job of packaging. I've grown to expect that, but now will only order from them if they have a smoking deal.

 

[Win]

That stinks! I busted one of the capsules that was on a 10 ounce coin - just dropped it in the basement on the cement. Major bummer! Those are handsome coins though. I have the 1 ounce gold in 2011 Rabbit (the birth year of my daughter) and 2016 Monkey (the birth year of my son).

 

[Win]

Here’s why gold might die out as an investment

“Isn’t it possible faith in gold could potentially die out with the older generations?” asks Carlson, who is Ritholtz Wealth Management’s director of institutional asset management. “Doesn’t technology present a massive risk to gold’s standing as a store of value going forward?”

Here’s why gold might die out as an investment

I saw this article and hoped it would be more interesting and present compelling arguments against gold. It doesn't. It says what I had read in numerous other articles - young people are less attracted to gold so demand may be diminished over time. I'm not particularly taken by this argument for the same reason that I don't jump on board with most modern thought and progressiveness - people born in the last 35 years are not smarter, better at creating societies, better at creating rules of living and morality, etc etc than the people who existed for the 3,500 years preceding them.

 

[richc]

That's a great remembrance! My kids were born before these coins were available...

That stinks! I busted one of the capsules that was on a 10 ounce coin - just dropped it in the basement on the cement. Major bummer! Those are handsome coins though. I have the 1 ounce gold in 2011 Rabbit (the birth year of my daughter) and 2016 Monkey (the birth year of my son).

 

[richc]

During their adult lives they've not lived through difficult economic conditions. And they live in their digital worlds where Bitcoin and Ethereum live. My oldest is 30 and she was in college during the last bust cycle. Although it was not a great time financially for us and many others, we were comfortable and the kids didn't really notice.

I think that's one of the challenges today. Anyone under 30 or so has really only been living in a prosperous adult world filled with plenty. They've not experienced the shock and awe downturns of 2008-2009, 2000, and the late 80's.

We're overdue IMHO. The can has been kicked down the road by our politicians, stealing our children's future with a tidal wave of debt.

Once they feel it, they too will start to wonder what today's money really is and whether it has any real value.

I've explained it to my kids many times. They understand but I don't know if they agree. I've given them the freedom to live their lives free of financial stress. I'm lucky in that regard, and very different from my upbringing in the inner city of Boston. But that was always my goal. Let the kids be kids.

Sounds like you and I are on the same wavelength, Win.

Here’s why gold might die out as an investment

Here’s why gold might die out as an investment

I saw this article and hoped it would be more interesting and present compelling arguments against gold. It doesn't. It says what I had read in numerous other articles - young people are less attracted to gold so demand may be diminished over time. I'm not particularly taken by this argument for the same reason that I don't jump on board with most modern thought and progressiveness - people born in the last 35 years are not smarter, better at creating societies, better at creating rules of living and morality, etc etc than the people who existed for the 3,500 years preceding them.

 

[Win]

Sounds like you and I are on the same wavelength, Win.

Agreed

 

[Win]

Watching these PM prices fall reminds me of this old instagram post that made me want to buy a 10 ounce poured gold bar. If the prices fall far enough, I might just have to get one.

 

[Varmint]

Here’s why gold might die out as an investment



Here’s why gold might die out as an investment

I saw this article and hoped it would be more interesting and present compelling arguments against gold. It doesn't. It says what I had read in numerous other articles - young people are less attracted to gold so demand may be diminished over time. I'm not particularly taken by this argument for the same reason that I don't jump on board with most modern thought and progressiveness - people born in the last 35 years are not smarter, better at creating societies, better at creating rules of living and morality, etc etc than the people who existed for the 3,500 years preceding them.

I like these articles cause it means we're close to a bottom. If you doubt the future of gold, just take note of how much gold the central banks are stockpiling. It ain't cause they like pretty rocks.

 

[richc]

Win, 47 years ago today Nixon removed the dollar from the gold standard. Funny how that worked, huh?

Watching these PM prices fall reminds me of this old instagram post that made me want to buy a 10 ounce poured gold bar. If the prices fall far enough, I might just have to get one.

 

[enbloc]

Silver trading under $14.40/toz now. A "Buy" opportunity may be presenting itself...or, not.

 

[Varmint]

Silver trading under $14.40/toz now. A "Buy" opportunity may be presenting itself...or, not.

I think we might see a bottom at $14.0 silver and $1160 gold. A lot of the good mining stocks are finally capitulating so I’m trying to buy those. Hopefully EBay will come through with a 10% Bucks deal tomorrow.

 

[Win]

But my big problem with Schiff's mutual funds is when the dollar tanks, his stuff doesn't take off like it should. .

Maybe but when the dollar gets a boost Schiff's mutual funds really tank Ugh

 

[enbloc]

I think we might see a bottom at $14.0 silver and $1160 gold.

Same here. Maybe silver posts under $14, and gold around $1138, but very short lived, like 2 minutes. Just to incite a little interest. Back up before close on Friday.
These are the Dog Days of Summer after all in the PM markets...

 

[enbloc]

this old instagram post that made me want to buy a 10 ounce poured gold bar

Man I am so leery about poured gold bars these days. Tungsten be damned!

 

[Win]

Man I am so leery about poured gold bars these days. Tungsten be damned!

I hear you. I have a precious metal verifier so I'd feel pretty good about it.

 

[enbloc]

I hear you. I have a precious metal verifier so I'd feel pretty good about it.

Yes you do, My Friend!

 

[enbloc]

Have you ever thought of sandwiching a piece of lead, tungsten or even silver between a couple of Gold Eagles to test your machine?
You know a simple stack, not melting or anything.

 

[Varmint]

Same here. Maybe silver posts under $14, and gold around $1138, but very short lived, like 2 minutes. Just to incite a little interest. Back up before close on Friday.
These are the Dog Days of Summer after all in the PM markets...

This is a serious bear market for PMs, I'm worried we'll blow through those two support levels like we've blown through all the others. I think the lowest we can go is $1000 gold, below that the physical demand will break the paper market (futures will go to $900 and physical gold stays at $1000, breaking the relationship), and they sure don't want that, so they won't let it go below $1000.

 

[enbloc]

Agreed.

 

[richc]

Palladium hit a 14 year low today.

ETA: the primary use for palladium is catalytic converters. With so many electric cars predicted for our future it's possible this is a demand based downturn.

This is a serious bear market for PMs, I'm worried we'll blow through those two support levels like we've blown through all the others. I think the lowest we can go is $1000 gold, below that the physical demand will break the paper market (futures will go to $900 and physical gold stays at $1000, breaking the relationship), and they sure don't want that, so they won't let it go below $1000.

 

[Win]

Have you ever thought of sandwiching a piece of lead, tungsten or even silver between a couple of Gold Eagles to test your machine?
You know a simple stack, not melting or anything.

I haven't tried that. It's a sensitive machine tho. If you put a silver dollar on it while it's testing for pure silver it will let you know that it's not right. I can even tell the difference between 999 silver and 9999 silver on it. The 9999 silver tests purer than the 999 silver - the lines are more in the middle of the green.

 

[enbloc]

Nice.
~Matt

 

[enbloc]

Palladium hit a 14 year low today.

ETA: the primary use for palladium is catalytic converters. With so many electric cars predicted for our future it's possible this is a demand based downturn.

Sounds like the right time to buy copper.

 

[LuvDog]

What are thoughts on platinum?

 

[Win]

What are thoughts on platinum?

Some folks say it's primarily used in catalytic converters which are going out of style so platinum is therefore going out of style. Other people think it's the rich man's gold. I'm one of the latter people. I like platinum below $900 and love it below $800.

 

[Varmint]

Maybe but when the dollar gets a boost Schiff's mutual funds really tank Ugh

Yeah I might sell mine and put the money into something which is down but is actually worth owning.

 

[Varmint]

What are thoughts on platinum?

I stay away from industrial metals. If silver didn’t have a money aspect it would be like $3/oz.

 

[Varmint]

Sounds like the right time to buy copper.

I think Cu is even more undervalued than gold at the moment, but haven’t done research on copper. I did buy a uranium company, UEC. Uranium is going to take off in the next couple years imo.

 

[LuvDog]

I think of platinum as high end on the jewelry and watch market... and it seems to be really low compared to all time values.

I’m tempted to pick some up