Gold and silver prices are down

[Varmint]

I just hope retail silver and gold gets some restocking before the prices break out to new highs. But I doubt it, anything restocked gets bought at big premiums.

I recommend people buy Sprott Silver Trust - then when silver coins/bars are back in stock and premiums are low, sell it and buy physical. (you can redeem Sprott shares for physical but have to be a large shareholder).

I think silver is going to retest the lows - if it goes down to $12 or $13 I'll buy Sprott Silver Trust (PSLV).

 

[richc]

Bank of America gold forecast.

Gold prices will nearly double to a record $3,000 as central banks fuel 'financial repression,' Bank of America says

markets.businessinsider.com

 

[silversquirrel]

The Ruble is in freefall vs. The dollar.
How to make money on that?

 

[Varmint]

The Ruble is in freefall vs. The dollar.
How to make money on that?

Buy ERUS. Russia has some solid companies and the government has little debt and isn't printing money. Might be a good buy especially if it keeps dropping.

 

[Varmint]

Bank of America gold forecast.

Gold prices will nearly double to a record $3,000 as central banks fuel 'financial repression,' Bank of America says

markets.businessinsider.com

Hmm, the biggest gold miner, Newmont, mines like 8 million ounces a year, at a cost of $1000/oz. their share price reflects gold of like $1500, or $5/oz.

$3000 gold means they make 4x profit per oz, and the shares should go up 400%.

Then take a crappy gold miner like Monarch Gold. They might make a $100/oz at $1500 gold. But at $3000 gold, they're making $1600/oz. stock should go up 1600%.

 

[smokey-seven]

I don't think I have ever seen such a difference between spot silver and Silver Eagles. 15$ and ounce spot and a 10$ premium for Silver Eagles. I guess all those eagles I bought at a 2$ premium over an 12$ spot price was a good deal.

.

 

[Varmint]

I don't think I have ever seen such a difference between spot silver and Silver Eagles. 15$ and ounce spot and a 10$ premium for Silver Eagles. I guess all those eagles I bought at a 2$ premium over an 12$ spot price was a good deal.

.

US Mint reopened yesterday after being closed for 5 days. So the premium should come down on Eagles.

$3000 gold means probably $50 silver at a minimum. So yeah I'd say you got a good deal.

 

[Win]

US Mint reopened yesterday after being closed for 5 days. So the premium should come down on Eagles.

$3000 gold means probably $50 silver at a minimum. So yeah I'd say you got a good deal.

I'll take the over

 

[samandglove1]

Funny market right now. Here's a current anecdote.

A few guys in this thread know me and know that I can go a little overboard when I find a good buy in silver (I'm much steadier in my attitude towards gold). I have been buying silver pretty aggressively over the past year and have sold a little here and there as reality checks to test the market. I went on Facebook yesterday and advertised a couple of tubes of Silver Eagles for $500/each as a test to see if anyone would buy. Needless to say, it was a feeding frenzy with people asking how many total I would sell. I told one guy that I had plenty, so he should make an offer. He shockingly said that he would pay $24 per ASE, up to 500 coins. I couldn't say "deal" faster. He actually happily paid $12K for a Monster Box.........

I don't know where I'll toss the proceeds, maybe gold or platinum, but I have another Monster Box that I'm going to save for now.

I'm glad the casino's are closed.

Rich - Do you want to sell your Barrett.........

 

[Varmint]

Funny market right now. Here's a current anecdote.

A few guys in this thread know me and know that I can go a little overboard when I find a good buy in silver (I'm much steadier in my attitude towards gold). I have been buying silver pretty aggressively over the past year and have sold a little here and there as reality checks to test the market. I went on Facebook yesterday and advertised a couple of tubes of Silver Eagles for $500/each as a test to see if anyone would buy. Needless to say, it was a feeding frenzy with people asking how many total I would sell. I told one guy that I had plenty, so he should make an offer. He shockingly said that he would pay $24 per ASE, up to 500 coins. I couldn't say "deal" faster. He actually happily paid $12K for a Monster Box.........

I don't know where I'll toss the proceeds, maybe gold or platinum, but I have another Monster Box that I'm going to save for now.

I'm glad the casino's are closed.

Rich - Do you want to sell your Barrett.........

I wonder if he's been listening to Silver Doctors saying silvers going to $100 next month. He thinks he screwed you, lol. Probably doesn't realize the silver bugs have been predicting $100 silver since 2008.

Silver chart looks very bearish right now. Hopefully since mint production is back up, premiums will go down, making it affordable again for a few months.

 

[smokey-seven]

$3000 gold means probably $50 silver at a minimum. So yeah I'd say you got a good deal.

It becomes a question of at what point do you sell.

He shockingly said that he would pay $24 per ASE

Were those 2020 SE's? Early buy numbers for May 2020's are 25$+. The spot shift will be fun to watch.

Probably doesn't realize the silver bugs have been predicting $100 silver since 2008.

Yea and they will at SOME POINT be correct. Can you imagine telling someone in 1920 that gold would be over 1500 an ounce?

.

 

[not new guy]

I wanted to make sure I had a few coins dated 2020 in the collection, including one from China. It's shaping up to be an historic year.

 

[Varmint]

It becomes a question of at what point do you sell.

Were those 2020 SE's? Early buy numbers for May 2020's are 25$+. The spot shift will be fun to watch.

Yea and they will at SOME POINT be correct. Can you imagine telling someone in 1920 that gold would be over 1500 an ounce?

Normally I'd sell when the bull market reaches a frenzy, i.e. your Uber driver is talking about buying gold mining stocks.

But in this case, I would wait for the currency reset.

 

[Varmint]

I wanted to make sure I had a few coins dated 2020 in the collection, including one from China. It's shaping up to be an historic year.

Didn't even think of that, great call!

 

[samandglove1]

Were those 2020 SE's? Early buy numbers for May 2020's are 25$+. The spot shift will be fun to watch.

I sold him a box of 2018's. I bought them last year for a few cents under $16/each

 

[smokey-seven]

I sold him a box of 2018's.

Never sold other than face to face, what is shipping and insurance cost? At 25$ a coin I may sell some.

.

 

[richc]

Hmm, the biggest gold miner, Newmont, mines like 8 million ounces a year, at a cost of $1000/oz. their share price reflects gold of like $1500, or $5/oz.

$3000 gold means they make 4x profit per oz, and the shares should go up 400%.

Then take a crappy gold miner like Monarch Gold. They might make a $100/oz at $1500 gold. But at $3000 gold, they're making $1600/oz. stock should go up 1600%.

I found it interesting that a staid old bank like Bank of America making this prediction. So many banks have said over the years that gold was not a good investment.

I bought some Newmont (NEM) at 34. It took a dive during last months market crash. Wish I had bought more.

I'm thinking of buying a security that's tied to silver. Any suggestions? My gut tells me that silver's spot price at $15/ounce is quite low compared to gold. And if gold heads north of $2000 silver will get dragged along for the ride.

 

[Rob Boudrie]

I'm thinking of buying a security that's tied to silver. Any suggestions? My gut tells me that silver's spot price at $15/ounce is quite low compared to gold. And if gold heads north of $2000 silver will get dragged along for the ride.

The gold/silver ratio has always been a selling point used by PM vendors that wish to sell, rather than hold, their inventory.

 

[smokey-seven]

So with just about all of us thinking that Silver will be going up as well as Gold, just how much is a Silver future and can I take delivery?

I remember the Hunt brothers and some friends that mortgaged their homes for futures. They retired very young. I just do not recall how they did it. I just bought it and sold it. The bank teller I was dating at the time and told to sell all her 90% coin when silver was at $40.00, did not take my advice.


.

 

[richc]

The gold/silver ratio has always been a selling point used by PM vendors that wish to sell, rather than hold, their inventory.

I suppose they will try anything to sell their wares. Caveat Emptor.

I do think it's worth watching. Most things of that nature return to the mean after some time. And, yes, I understand that could be a rise in silver prices OR a drop in gold prices. As I do suspect gold prices will be rising due to large increases in deficit spending, money supply and overall US debt levels I would expect silver to do the same. Certainly YMMV.

It is what it is.

 

[samandglove1]

Never sold other than face to face, what is shipping and insurance cost? At 25$ a coin I may sell some.

.

He is actually in Boston, so he wired me the money and I'm going to hand deliver him the box inside one of the banks I use in the Back Bay. It seemed like the least I could do.

If you ship. just make sure that the buyer covers the insurance cost (if he wants it). Also, some carriers are weird about what they cover under insurance PM wise, so double check that if you are sending a valuable package.

 

[Varmint]

I found it interesting that a staid old bank like Bank of America making this prediction. So many banks have said over the years that gold was not a good investment.

I bought some Newmont (NEM) at 34. It took a dive during last months market crash. Wish I had bought more.

I'm thinking of buying a security that's tied to silver. Any suggestions? My gut tells me that silver's spot price at $15/ounce is quite low compared to gold. And if gold heads north of $2000 silver will get dragged along for the ride.

For silver there is always Sprott silver trust which will just track the spot price.

If you want leverage to silver, there are actually very few pure silver miners, most silver comes as a byproduct of other mining.

Here are favorite silver mining companies:
First Majestic (AG)
Alexco Silver (AXU)
Silvercrest (SILV)
America's Gold and Silver (USAS)

All are still cheap, most are still down 40-50% from their 2019 peak unlike gold miners who are getting close to or at all time highs.

They could all go down 30-40% if the General stock market sells off so keep that in mind. I'm hoping for a miner selloff but it's looking less likely. If they don't sell off by this Friday they'll probably break upwards.

 

[Win]

A few vintage silver art bars I've recently acquired. Pretty neat IMHO

 

[sacksjacked]

I just hope retail silver and gold gets some restocking before the prices break out to new highs. But I doubt it, anything restocked gets bought at big premiums.

I recommend people buy Sprott Silver Trust - then when silver coins/bars are back in stock and premiums are low, sell it and buy physical. (you can redeem Sprott shares for physical but have to be a large shareholder).

I think silver is going to retest the lows - if it goes down to $12 or $13 I'll buy Sprott Silver Trust (PSLV).

sure, silver might retest those lows. not too far from the $15 range it is now. problem is that you can't buy it at spot. if it lands in the $12 range we will likely still pay $22ish range. demand is huge. premiums are very high, IF you can even find it available for sale.

 

[sacksjacked]

I'm thinking of buying a security that's tied to silver. Any suggestions? My gut tells me that silver's spot price at $15/ounce is quite low compared to gold. And if gold heads north of $2000 silver will get dragged along for the ride.

i would go with Pan American Silver (PAAS). best silver miner in my book. i like to get in anywhere around $10 or under for it. has done very well for me in the past, not as a long term investment but like i said, getting in at the right prices. since the March crash it's doubled already but in the $15-17 range i think it's a solid buy. i expect it to make a run at the all time high.

 

[Varmint]

sure, silver might retest those lows. not too far from the $15 range it is now. problem is that you can't buy it at spot. if it lands in the $12 range we will likely still pay $22ish range. demand is huge. premiums are very high, IF you can even find it available for sale.

Yes, the mints are producing silver coins again, but there's enough pent up demand it could be a while before premiums come down, and silver could be $20 by then.

That's why I recommend Sprott Silver Trust. They buy their physical silver in bulk, where there's plenty of supply, so you can get it at spot through the Trust. You could also buy the silver ETF like SLV, but I don't trust those, since they aren't required to deliver physical like the Sprott Silver Trust (only to large stockholders, but at least you know they have the metal).

 

[Varmint]

i would go with Pan American Silver (PAAS). best silver miner in my book. i like to get in anywhere around $10 or under for it. has done very well for me in the past, not as a long term investment but like i said, getting in at the right prices. since the March crash it's doubled already but in the $15-17 range i think it's a solid buy. i expect it to make a run at the all time high.

Are their South American mines shut down? I own First Majestic whose mines are all in Mexico, and I think are all shut down. I think when the mines reopen the stock will shoot up, it's been going up anyway despite the shutdown.

I think PAAS's March low was $15, I don't think we'll see the March lows in any of the miners again, though it would be nice.

 

[Varmint]

$16 over spot w/ 5% Ebay Bucks. Of course it's $500 more than I paid for this 2 years ago.

SPECIAL PRICE! Austria Gold 100 Corona Coin BU Random Year (AGW 0.9802 oz) | eBay

SPECIAL PRICE! Austria Gold 100 Corona Coin BU Random Year (AGW 0.9802 oz). Silver Bars 1 oz 10 oz Kilo 100 oz. Gold Bars 1 oz Gold Bars Fractional Gold Bars. Reverse: A regal design that displays the coat of arms of Austria superimposed over a crowned imperial double-headed eagle.

www.ebay.com

$120 over spot with Bucks.

2020 Great Britain 1 oz Gold Royal Coat of Arms Coin GEM BU SKU60668 | eBay

Specifications for this 2020 Great Britain 1 oz Gold Royal Coat of Arms £100 Coin GEM BU SKU60668. Featured on the reverse is an interpretation of the Royal Coat of Arms by sculptor Timothy Noad. A crowned shield is centrally located, with the Lion of England on the left, and Unicorn of Scotland...

www.ebay.com

 

[enbloc]

2019 5 ounce ATB coin.


"There's a lot to like about Lowell..."

 

[enbloc]

$3 dollar per T/oz premium for generic rounds is ridiculous...