We could pull back to the $1600’s but that area is a hard stop of resistance. I agree that this is another consolidation of the recent run up in gold and gold equities. The dollar is on a down turn but it will recover and shoot higher if we get further market pain. I do believe this is simply another bear market rally and earnings is gonna be super sour in Q1. They are hiding the poor earnings this quarter with ease but it will get much worse with embedded inflation and if this disinflation cycle we just moved into from stagflation turns into deflation (which I don’t believe central banks will tolerate) then we will go right back to QE or some transmutation of it.
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Gold and silver prices are down
- Thread starter Rider
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76Too
NES Member
I was thinking a little more like 1929.
Could be. All I can tell you is that I think it's going to be ugly. @DJBrad is correct that earnings are going to be sour, and I don't think they will be able to stop the drop. I don't have the acumen to time things or to recognize and respond on a dime just before it happens, so I used the latest rally to pull out of stocks (mostly). We'll see how it goes. I'm not young enough that I want to take on a lot of risk, but I think I'll be able to seize some buying opportunities after the conflagration is mostly over. I won't be able to time that, either, though.
76Too
NES Member
I’m 40 and I basically just started saving for retirement 4 years ago and have less than 100k ‘all in’, so I don’t think it really matters all that much what I do yet.
If gold goes to $1400/oz, I’m holding what I bought (face to face and tax free) at $2000/oz…if it goes to $4000/oz, I’m holding what I bought at $2000/oz.
If I need to buy something I need if I don’t have anything else and cash is worthless, I’ll use gold (or silver)…until then, I’m staying put.
Varmint
NES Member
Yes I think the same. Probably worse than 2008, and I think gold will go up big starting next year when the Fed has to pivot and restart QE.
Varmint
NES Member
There’s so much debt in the system I don’t see how this can go on for years. But it’s already gone on years past its sell by date so maybe.
Varmint
NES Member
It is tough to invest when the Fed is constantly meddling in the markets. It’s like trying to count cards when the dealer is cheating.
Congress, too. I'm sure they're thinking what we really need right now is one more huge spending bill. One more for the road for the 117th Congress.
Varmint
NES Member
They probably have trillions in spending all lined up, just waiting for some economic or financial bonfire that'll get Republicans onboard.
Win
NES Member
The more I look at the history of money, the silver content diminishing from coins, gold coins going extinct altogether, the advent of digital token, NFTs, etc I believe that there is a concerted effort to confuse the populace as to what money and value are. It's been a hugely successful effort. Very few people actually own any money with the younger generations bamboozled into thinking that virtual items with no physical manifestation in the world are the best money of all!
When I look at modern coins made from cheap metals, I wonder why they exist at all? What is even the point of a modern quarter? It'd be easier to carry and have the same intrinsic value as a small note. From where I sit, it appears to be a deception.
When I look at modern coins made from cheap metals, I wonder why they exist at all? What is even the point of a modern quarter? It'd be easier to carry and have the same intrinsic value as a small note. From where I sit, it appears to be a deception.
Scottsdale Mint on Gab: 'This is the reason you always buy from trusted de…'
Scottsdale Mint on Gab: 'This is the reason you always buy from trusted dealers. Trying to save a few bucks buying from sketchy 3rd parties can be a devastating loss. You need to know their address. Our amazing customers report fraudulent sellers to us all the time, China has ramped up...
smokey-seven
NES Member
Coin lasts longer than notes and in the long run is cheaper to produce.
The only point of coin change is that inflation has not reached the point where all prices are rounded up to the next dollar.
When I get into discussions about our coinage, I carry a small leather pouch with $5 face in silver coin and a few silver eagles. They are always surprised to learn that we actually had silver coin as regular money.
smokey-seven
NES Member
Read this one today. As an aside, I have read that each solar panel has 1.5 Oz of silver in it and it is too inefficient and expensive to recover when the panel needs replacement. I ponder the numbers....
menafn.com
World is about to run out of silver
The Silver Institute, a United States-based organization that monitors the metal, stated in its most recent report that the world is on the verge of
Win
NES Member
I think the silver shortage is bound to happen but I've heard varying timelines - between "later this year" and 15 years. There's likely some gradient of diminishing supply in there.
Varmint
NES Member
Read this one today. As an aside, I have read that each solar panel has 1.5 Oz of silver in it and it is too inefficient and expensive to recover when the panel needs replacement. I ponder the numbers....
World is about to run out of silver
The Silver Institute, a United States-based organization that monitors the metal, stated in its most recent report that the world is on the verge of
Run away from any article saying we’re about to run out of silver/gold/oil etc.
At $25 silver, a lot more deposits become economical, and at $30 again a lot more become economical.
smokey-seven
NES Member
So how many more million oz of silver will be produced at $30 an oz?
76Too
NES Member
Stupid question, but I actually thought we could MAKE silver (but not gold.)
I think we made it in a chemistry class once. It’s not exactly the kind you would make into jewelry or coins, but suitable for industrial applications.
I think we made it in a chemistry class once. It’s not exactly the kind you would make into jewelry or coins, but suitable for industrial applications.
Varmint
NES Member
You're probably thinking of diamonds.
Varmint
NES Member
Dunno, but my point was that there is tons of silver in the ground, but much of it would cost too much at $20 silver to be worth mining. But at $30, all of a sudden those deposits become economical, and the mines would get built, supplying more silver to the market.
And the crappy junior mining stock that owns that deposit will go up 1000%.
![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
Win
NES Member
God made precious metals. Man makes fiat currency, digital tokens and NFTs.
76Too
NES Member
The process I was thinking of is ‘extracted’ from silver nitrate.
Are you hunting werewolves in KY with nvg seeboJKs now?
Here’s my prediction, whatever I think the price of gold and silver will be, short my prediction! Gold $1,900 and Silver $25 by Feb 2023. You’re all welcome! 
smokey-seven
NES Member
Way back when silver was 2x the price it is now, I had a friend that collected Xray photo's Silver nitrate and processed them for scrap silver. He did well but the price of silver was rising to $40.00 an ounce.
richc
NES Member
Decent deal. And IMHO the obverse of the coin looks a bit like Trump in drag...
20 Francs Swiss Helvetia Vreneli Gold Coin AGW .1867 oz AU/BU (1897-1949, Random | eBay
TheSwiss 20 Francs Vreneli gold coins were produced from 1897 to 1936 when production ceased due to the onset of the Great Depression. However, restrikes of this coin were later issued in 1947 and 1949.
www.ebay.com
76Too
NES Member
Decent deal. And IMHO the obverse of the coin looks a bit like Trump in drag...
20 Francs Swiss Helvetia Vreneli Gold Coin AGW .1867 oz AU/BU (1897-1949, Random | eBay
TheSwiss 20 Francs Vreneli gold coins were produced from 1897 to 1936 when production ceased due to the onset of the Great Depression. However, restrikes of this coin were later issued in 1947 and 1949.www.ebay.com
I’ll never be able to ‘unsee’ that now, thank you.
richc
NES Member
I've heard that Apmex is not very generous historically in its gold and silver buy prices. Here's an ad received today...
I don't recall getting an ad like this for a while from them. Demand must be strong.
I don't recall getting an ad like this for a while from them. Demand must be strong.
Win
NES Member
I went to the Devens Mass coin show this past weekend and sold several numismatic silver coins and a couple of generic world gold coins that were no longer "singing" to me. I was hoping to get a little over spot gold but I sold them for several hundred dollars over spot. Today, those checks cleared, and I paid off my truck. I'll be buying back into world gold coins over the next several months.
Anyway, to Rich's point, I think demand is high. What I'm not certain of is if the market is going to really crash dragging PMs back down further. It's possible. I made a defensive play by selling some coins, paying off my truck, and limiting my liabilities. I have a low risk tolerance.
Anyway, to Rich's point, I think demand is high. What I'm not certain of is if the market is going to really crash dragging PMs back down further. It's possible. I made a defensive play by selling some coins, paying off my truck, and limiting my liabilities. I have a low risk tolerance.
bigbravehog
NES Member
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I planned on going to the show but bailed out. I have gone to EJW shows in Worcester for many years but the last few times have been disappointed.
Prices way over grey sheet. I'm more of a collector.
How was the show ?
Win
NES Member
It's a smaller show and I actually enjoyed that. I was there early but it wasn't terribly crowded which was nice since I was offering coins to dealers. There was a good amount of US coins, silver, bullion gold and platinum, and generic pre-33 gold. There wasn't much in the way of 19th century world gold that I tend to buy these days. I bought a 1696 and a 1822 crown. Both are well worn and raw. I had positive, friendly interactions with John from Rare Coin Dealer Boston Area • Coin Rarities Online and Frank & Tom from Buying and Selling Rare Coins at Northeast Numismatics I'll definitely go again.
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