Anybody watching Gold?

[EL34]

Many economists consider gold and silver to be "natural" money.

History considers Gold and Silver real money.
Nixon removed us from the Gold standard which backs up a nations currency against the Gold a nation holds
Thus opening the flood gates for a government to print Fiat currency backed by nothing.
You are inflating the total currency, thus making it worth less.

The inflation term is not understood by many people.
The government causes inflation by printing more paper currency.
Prices going up are the result of inflating the currency.

[shooter]

Prices going up are the result of inflating the currency.

2 months ago I bought 7/16" 4X8 OSB $20, last week paid $29.99
2 months ago I bought a bar and chain for my 16" Husqvarna just under $50 for both, Thursday paid $73


the covid trillions printed, coupled with "other economic data", is insuring my lower middle-class status will be middle- poverty before it all shakes out

[EL34]

People do not understand the big picture

Raising prices is a direct result of money printing

There are scalpers for sure who take advantage of people.
But if a product now cost you more, you have to raise your prices.

This is all a result of the government inflating the currency.

[scstill]

So now I feel that I should add more hard gold :-)

I wonder though if the financial markets ever crumble/hacked if gold will still be desirable/tradeable.
Then what would be right size 1/10, 1/4, 1/2, 1?

Its like when was he last time I did a transaction with cash; seems like forever ago...

[EL34]

I would wait for a pull back/profit taking

Depends on what you can afford1 oz Canadian Maples are always a good way to go
Eagles have a much larger premium but are top of the heap for most stackers
Hard to say about tradingMany of the top sellers have a buy back policy

SD Bullion has been a good source
https://sdbullion.com/gold/american-gold-eagle-coins

[shooter]

I wonder though if the financial markets ever crumble/hacked if gold will still be desirable/tradeable.

if I understand your question/concern;
If financial markets collapse, my "guess" silver will be the "money of choice" for things like bread n eggs, veggies, et al.
Gold will be the money of choice for the big-ticket items like deasil n gas, transportation, weapons... et al.


i'm buying rolled silver USD dimes, expecting something like a silver dime gets you a dozen eggs, a loaf of bread from neighbors-friends.
an OZ of silver gets you a hen n rooster.  USD "paper" will still be a "thing" but that dozen eggs will be $20 USD paper....


and if nothing "happens" a friend next road north has a kiln n crucible that he melts down dimes n quarters then pours 2 OZ bars.

[mresistor]

and if nothing "happens" a friend next road north has a kiln n crucible that he melts down dimes n quarters then pours 2 OZ bars.

 So when melting these do you skim off the crap metals (nickle copper etc) to get the pure silver?

[scstill]

What is a reasonable premium to pay for "bulk" 90% silver coins over spot?

[shooter]

to get the pure silver?

was only there once during a pour, I asked what the "slag was" he said it was the junk metal, said it chips off easy once cooled
the bars he showed me were buffed n shiny, so my guess is it gets it to ~~97% based on what i've read about "refining panned gold" anything more is typically a chemical process with spooky chemicals.

90% silver coins over spot?

my coin shop was selling NON-USD for spot +$2/oz
USD coins were spot +$4/oz  He runs a card-coin-collectables store so I'm paying "numismatic" value since he say's "I don't deal in scrap metal"

[shooter]

I haven't bought from here yet but probably will soon.  should give you a ballpark idea on pricing


THIS should be a URL!!!  90% silver coins over spot?


search "Great Lakes Coin" should get you the home page, has a lighthouse "logo"

[bmccowan]

I wonder though if the financial markets ever crumble/hacked if gold will still be desirable/tradeable.

I think this relates to what Doug calls "real" money and I referred as "natural" money. Same thing IMO. Gold and Silver will have value if the paper currency collapses, because they have uses and are desirable beyond the "shared trust" that paper currency relies on. If US currency collapses, it'll be worthless here and abroad. But gold and silver will retain value here, but also abroad. At the end of WW2, Germany's currency collapsed. Gold and silver retained value, but most did not have any. For them, the trading commodities became cigarettes, Cognac, and the like. Bartering becomes a significant factor.
I do not buy gold. The reasons are personal and not grounded in logic, so I won't go into them. I do buy silver coins and have bought from the Bullion vendor that Doug mentions. Good service and variety. I buy silver coins because they are reasonable enough to give to my young family members - and there are many beautiful coins available for a bit above spot price. I also buy Canadian "Loonies" because the lakes in Maine are full of Loons - my favorite bird.
I do not have experience with a lot of vendors, but one that I did not like was Littleton Coin. They included coins that I did not order and asked that I buy them or return them. You likely know what I did.

[shooter]

At the end of WW2, Germany's currency collapsed.

EDITED my brain
Argentina Venezuela is a more resent example, even better, since it's currency collapse was not about "war" but "Governancegoverness"
from my favorite Book, paraphrased;


"If you live under a bad king, life will be a struggle, If you live under a good King, your life will prosper"


as an Eagle scout, (when it meant something);
the moto: "be prepared"

[shooter]

checked in on the metals,
still upward trending, although if crude keep dipping n the dollar strengthens more, might see a small downturn.

[scstill]

if you look historically where does gold/silver typically trend relative to crude/$$

Is your strategy for gold/silver as investment or hedge? 
Do you ever take profits? or just acquire?

[shooter]

still a hedge, and yep, bought n sold as "profit" many times in "good economic times"


I use USD and crude as "ballpark indicators" of what to expect over the next month.  So I bought $10 face value silver quarters today at $5.9 ea, the internet has them at $5.8 on 2 sites I checked so about a wash considering I use a brick n mortar retail store.

[EL34]

Another new all time high

[shooter]

the "tight range" looks like some profit taking coming?
last I checked the DJIA was down pretty good, guessing folks are "finalizing" positions in everything before Nov.


I got my bullion yesterday, picked up cartridges today
put up about 3 months wood for the off-grid kitchen,
I should be good til spring if a storm blows through 

[EL34]

Looks like Silver has finally caught up to Gold

[shooter]

with all the chaos these days, I expect it to keep running up, guessing it'll hit a pretty hard resistance at about $50/oz....IF....the USD n politics are reasonably "stable" for the average Joe.

[shooter]

pretty good article on why metals might be poised for a Bull run;


https://www.zerohedge.com/commodities/gold-bull-cycle-has-just-begun

[shooter]

looks like Gold is still marching up
Silver took some profits and is moving back up


I been poor-man buying DJT stock, It ran up fast, sold, made enough to "replace" my USD that I spent last month on bullion n bullets, now I have USD to.....do it all over again 


read a good article in ZeroHedge that explained why Silver should be compared with Copper, not Gold

[scstill]

Many online dealers charge $7-$8 premium for Silver Eagles (+20%over spot)
Then buy them at below spot. Plus shipping both ways...
Good deal for them not so much for us.

[shooter]

yep, you pay more for numismatic value

The place I buy is a "coin dealer"  Bothers the owner that us heathens want "scape metal" 
He typically sells USD coins for spot +$7, unless it's "collectable" then it's the current value for that ...year..denomination..etal


the dimes I bought came out to spot +$2 but if I sold it back it will be spot -$4. so at the current spot i'll loose $1.
since they're a hedge, and free since I made the cost back in the stock market, I'm up 100% 

[EL34]

If you don't want to pay the premium for Eagles go with others like maple leafs or 90% silver coins.
There's nothing wrong with owning 1964 and prior US coins
Or random 1 oz silver coins

https://sdbullion.com/random-1-oz-silver-coins

https://sdbullion.com/silver/silver-coins

[EL34]

Another new all time high for goldSilver took a nice leap up also

[EL34]

Many online dealers charge $7-$8 premium for Silver Eagles (+20%over spot)
Then buy them at below spot. Plus shipping both ways...
Good deal for them not so much for us.

You can't time the markets exactly and if you wait you can see what just happened in my charts above
You buy when there is a pull back and just call it a day

It's not a short term thingIt's a long term way to preserve your wealth
You just have to sit tight and forget about day to day price swings

[scstill]

As a preserve your wealth logic
do you try to keep your solids as a percent of portfolio?
or just an arbitrary stash?

[EL34]

You just have it.
As the dollar falls in value, Gold rises in value

It's a simple as that.

Purchasing power of the US dollar
Dollar Purchasing power

Gold went from $35 an ounce in 1967 when to where it is today
Go down to this chart
Gold Prices - Historical Annual Data
https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

[shooter]

another illustration floating around;

[EL34]

Another new high in Gold and Silver is making up for lagging behind.

[shooter]

HA, was just looking, looks like gold was up, then backed off a couple dollars but still heading up $2760 when I looked

[mresistor]

Holy nosedive, check the metals this morning.  wow..   !    Gold down $67

[EL34]

I expected a down turn if Trump won.
It relieves some of the uncertainty at the prospect of Democrats and their insane policies.

[shooter]

Gold down $67

as Kenny said "Know when to hold 'em, know when to fold 'em"


if you were buying bullion this last year for "investment" you bought high and now have to decide to hold or fold.


If you bought as a hedge, as Doug basically stated, the hedge is now hopefully behind, so you sit back and watch n wait.  at some future point the price will be "right" as an investment and Bonus, it will "offset" your hedge price hopefully enough so that it all becomes investment.

[EL34]

I was all in back in 2012 on Gold and Silver.
It's a long term store of value, not a buy and flip investment.

[shooter]

 
long term for me is much shorter than it was 20 years ago.
That said I no longer count as "investment" my current bullion stash.  it'll more than likely just stay a hedge and part of my inheritance. 


The stock market is now my short term investment vehicle at "beer money" profit levels since my capital is being slow-drained for beans n rice
Bought 10 shares DJT at $29, sold at $39.  That's gas money for the Buick, couple 3 digits, re-invested the "principle" in MRO, up $10, hoping for ~~$80 then rinse n repeat.....I'm gonna be the Buffet of  mirco-profiteers 

[EL34]

It's a great thing to do to pass the wealth onto your heirs.

[scstill]

Speaking of stock market...
I guess it liked the win.

[shooter]

look some of my withdrawal money from MI's scratch-off retirement account n converted to my bullion retirement account 
got these 2 for Spot + $1  bought $5 face value '64 Kennedy's for ~~ $10ea 

[EL34]

Those are cool

Never seen them before

[shooter]

they just got a batch at the store, I like the irony of using American green-backs to buy Aztec/ My-un(sp) calendars in silver. 

[EL34]

Gold and Silver seem to be making another move up after some profit taking

[shooter]

fed-debt is maxed out, the globalists are butt hurt and 99 more things that make USD an iffy at best proposition.
my guess though the 80% will head for the digital coins over metals, keeping metals "in-check" from a big breakout.


will be watching the new ERS to see if it offsets anything of meaning for average Joe, like lower tax rates

[acheld]

my guess though the 80% will head for the digital coins over metals, keeping metals "in-check" from a big breakout.

I really don't understand the allure of digital "coins" aside from wanting to be a cool rich tech boy.  Talk about nothin' backing it up . . .  But I think you're right.   

[shooter]

ya, me either, I debate them online, point out all the Captain Obvious things, but they are un-shakable.  I call Digi-money and many other things "the life of ease and convenience";


"sit on the couch in jammies, make "money" online to "pay" for door-dashing, while amazons fills your porch with shiny new sheet, streaming netter-flicks, as only fans cheer"


sadly more and more are finding that a "good life"!

[acheld]

sadly more and more are finding that a "good life"!

Maybe that's what they call a generational divide.  Just to be clear, I'm on the old side of that line.

[shooter]

 
at 18 I started my career in advanced computer controlled systems, even geeked them as a hobby, but every "free moment" I wanted to be outdoors, in the world God created.  I had the means so the kids had "game-boxes" they'd ask if I wanted to play, Yep, heading outdoors right now for some play.  wife; wanna watch a movie, yep, ones playing right now outside.


it's not so much generational as "mental"  you're either doing what everyone else of your "generation" does, or you're just that "weird person"
count me weird.

[shooter]

slowly creeping up

[EL34]

Another new high for Gold

[shooter]

didn't watch the Vid (47 minutes to explain something is propaganda:) but the headlines;


"Why Silver is set to breakout and pass $50"


my read over the last 2 days;


The Dollar looks like it's set to be weaponized by the "we don't like America Countries"


something like 12 States are now working Legislation through that allows the States to hold bit-coin as "investment"
those are good indicators for us in the stacker community