Gold bug / silver bug / numismatic / metals thread

[Pimphand 5733]

22 hours ago, RDCanecutter said:

Back in the 90s my girlfriend inherited what must have been a 100oz brick of silver. At the time I thought silver was the dumbest thing you could buy, and I am sure I said so. (Meanwhile, I used my $ to drink the Crown and Anchor dry.)

She was nervous about how to store it. I convinced her to wrap it in fabric and use it as a doorstop.

I hope she still had it when silver hit 45/oz.

I hope she still has it!  We're going to look back and laugh at $45/oz once the world realizes the simple facts....

Silver is produced at a 7:1 ratio to gold.

Pretty close to 100% of the gold that is mined/found goes into vaults or jewelry where a huge chunk of silver is used in modern day electronics and photovoltaics because of it's hyper conductive nature and yet none of it is recycled because of the historically low price.

The part of the story that hasn't unfolded yet is there are two stable silver isotopes that occur at almost a 50/50 split in nature (107 & 109).  Humanity will soon figure out which one of the two is the hyper conductor and that will be exclusively used in industrial cases where the less conductive will be used in investment scenarios.

At the end of the day silver is the most important element in the periodic table no hyperbole and yet despite this you can buy 84oz of silver to 1oz gold as of the writing of this post

Facts:
Roman Empire would let you trade 12oz of silver for 1oz gold
USA would let you trade 15oz of silver for 1oz gold back when we were on the bimetallic standard
In 1964 the median income in the USA was $6,600 when our coinage (dimes and above) was 90% silver
Today if you had $6,600 in 90% coins you could go to your local coin shop and sell it for $138,600
Today the median income in the USA is $37,585 if you don't think inflation is silent theft you are an absolute fucking moron
In 1933 the when FDR illegally stole our gold the median salary was $1,125 which in 90% coinage would get you 804.375oz silver a year
Today you can buy 804.375oz silver for $22,860.34 + premiums which is distinctly less than today's median income

I hope this helps clarify the bullish reasons to buy the lunar metal....

[Pimphand 5733]

Oh and to piss the absolute retards on this site off....

Mexico is the #1 silver producing country on the planet.

When the Trumpster Fire said Mexico will pay for the wall he might not have been wrong because once the shit hits the fan they will nationalize their mines and not allow the dumb gringos across.

[Pimphand 5733]

2012 David Morgan chimes in
 

 

Bart Chilton was a god and lost his life for it...
 

If you think for a picosecond that we are wrong you best get ready...

https://www.justice.gov/opa/pr/former-jp-morgan-precious-metals-traders-sentenced-prison

[bernorange 8359]

I'm on my phone right now and lazy so I'm not reformatting and posting directly, but I ran across a fun item this morning:

https://www.pmbug.com/threads/silver-is-a-scarce-material.7370/

 

[Pimphand 5733]

and the hero stock is tanking....

[RDCanecutter 26393]

Reporting from Western North Carolina where we are currently visiting family. Googled "coin shops" and they appear to be almost as common as drug stores around here. I'm talking every 5 or 10 miles especially as you get near Asheville. Asheville, while growing, is still far from huge. I suppose it's all the retiree money.

I doubt I'll have time to explore this trip, and metal is high anyway, but on a future visit I'd definitely be down for a store-to-store crawl. Maybe a lurking Surlster who lives here can take up the banner and pull it off.

[Pimphand 5733]

Ready for the next boating accident....

[RDCanecutter 26393]

23 hours ago, Pimphand said:

Ready for the next boating accident....

Nice table strength test.

[CleverNickname 1308]

peace dollars.

[B00M 6414]

On 4/20/2024 at 3:00 PM, Pimphand said:

Ready for the next boating accident....

$20k or so worth of silver at current spot price? 

[RDCanecutter 26393]

At Casa Canecutter we now hunger for an old-school gold Krugerand. Low premiums going and coming. But maybe the main reason is all the late-70s commercials where Dos Equis Men with scotch-and-cigar voices would tell me to buy one. Took almost 50 years, but those ads and slowly working on me.

I figured out that I only had to draw 240 extra 4 x 6" cartoons to afford an ounce. We are at 40 this week.

[bernorange 8359]

Krugs are OK.  They have a distinct copperish color to them due to their allow mix though.  I prefer the color of pure gold (Maples/Buffalos) or Eagles (alloy has less copper than Krugs).

[RDCanecutter 26393]

33 minutes ago, bernorange said:

Krugs are OK.  They have a distinct copperish color to them due to their allow mix though.  I prefer the color of pure gold (Maples/Buffalos) or Eagles (alloy has less copper than Krugs).

I kinda like the old "real coins meant to jingle" gold-copper alloy. I'd go Mexican if they had, say, a vintage 40 peso. The 50 peso Centenario just seems outside my ability to focus, but maybe by the time I gather enough $ to get an ounce I will have grown stronger.

[Mr. Drummond 2198]

Nothing wrong with Kruggerands, low premium with not much discount when selling.    I think i used to have some before the boating accident.

Just checked SD Bullion.

Kruggs = 75 dollar difference from Buy and Sell price per oz.

Maples =80 dollar difference

AGE =  88 dollar difference

Buffalo = 90 dollar difference.

 

[crash_davis 23101]

Who wants to go on an Antarctica expedition with me? Volcano spewing $6000 worth of gold crystals per day.

https://www.upi.com/Odd_News/2024/04/25/Mount-Erebus-volcano-gold/3971714052176/

It sounds like a dream, but it's true in Antarctica, gold rains from the sky. Tucked in among the glaciers, fiery Mount Erebus is the southernmost active volcano on Earth, providing a bit of heat amid the frozen landscape.

While volcanic bombs are exciting, it's the bursts of gas spraying tiny crystals of metallic gold that surprise scientists, who estimate the volcano spews around 80 grams of gold a day -- that's worth around $6,000.

[Pimphand 5733]

On 4/28/2024 at 10:38 AM, RDCanecutter said:

At Casa Canecutter we now hunger for an old-school gold Krugerand. Low premiums going and coming. But maybe the main reason is all the late-70s commercials where Dos Equis Men with scotch-and-cigar voices would tell me to buy one. Took almost 50 years, but those ads and slowly working on me.

I figured out that I only had to draw 240 extra 4 x 6" cartoons to afford an ounce. We are at 40 this week.

https://sdbullion.com/1-oz-south-african-gold-krugerrand-coin-random-year

[Shaggy3.0 1695]

any coin shop recs in ft. worth tx?

looking to buy gold/silver 1oz coins.

maybe some jewelry for a lady.

 

Edited May 12 by Shaggy3.0

[bernorange 8359]

I know of a few in Dallas if it helps:

https://www.bullionstar.us/

https://www.silver.com/

https://www.jmbullion.com/

https://www.providentmetals.com/

[Shot Caller 17]

any coin shop recs in ft. worth tx?
looking to buy gold/silver 1oz coins.
maybe some jewelry for a lady.
 

I’ve used Fort Worth Coin Company on Camp Bowie before. Highly recommend Grissom’s for jewelry on Camp Bowie West.

[CHIEF 5078]

I begged Mrs. CHIEF to agree to buy five hundred 1 oz. silver Maple Leafs back in March, when silver was around $21ish an ounce. I just bought them today priced about $3k more total. I don't ever know why I ask for permission or agreement before I do shit like this. It's just easier to never tell her until she freaks out after looking at the savings account. She will be furious for about ten minutes, and then, she will be on her computer monitoring silver prices constantly.

CHIEF

[RDCanecutter 26393]

24 minutes ago, CHIEF said:

I begged Mrs. CHIEF to agree to buy five hundred 1 oz. silver Maple Leafs back in March, when silver was around $21ish an ounce. I just bought them today priced about $3k more total. I don't ever know why I ask for permission or agreement before I do shit like this. It's just easier to never tell her until she freaks out after looking at the savings account. She will be furious for about ten minutes, and then, she will be on her computer monitoring silver prices constantly.

CHIEF

Whenever I wake up from a craze of buying, I feel a momentary twinge as if I blew that money at the racetrack. Then I realize that even if I take a small loss, I could turn right around and get most of that cash back. Sort of like moving it from a savings account to a Shiny savings account.

It's not so much about being "right" about the market as it is NOT spending every last dime on stuff like beer. If I had 1/4 of my beer money back from the past 3 decades, that'd be a ton of metal (and stocks) even if I bought at dumb prices. And the remaining 3/4 of that beer would be plenty for the foolishness I got up to.

[CHIEF 5078]

2 minutes ago, RDCanecutter said:

Whenever I wake up from a craze of buying, I feel a momentary twinge as if I blew that money at the racetrack. Then I realize that even if I take a small loss, I could turn right around and get most of that cash back. Sort of like moving it from a savings account to a Shiny savings account.

It's not so much about being "right" about the market as it is NOT spending every last dime on stuff like beer. If I had 1/4 of my beer money back from the past 3 decades, that'd be a ton of metal (and stocks) even if I bought at dumb prices. And the remaining 3/4 of that beer would be plenty for the foolishness I got up to.

She just got home, she was mad for about 10 seconds, and this is exactly what I told her. It isn't like I'm going to Vegas and betting it all on black It's just a speculation based on market research I have been following for a while. It's just taking money that would be sitting in savings at 2-3% and taking the chance that you can have it grow at 20-30% in a short amount of time. It will be sitting in my safe, I can get rid of it at anytime.

CHIEF

[RDCanecutter 26393]

Glad to help a brother out. Now take her antiquing.

[CHIEF 5078]

3 minutes ago, RDCanecutter said:

Glad to help a brother out. Now take her antiquing.

One of the great things about Mrs. CHIEF is she will see the drop in the savings account, and she will completely disregard that the money is just sitting in the safe. She will cease to spend on anything but necessities until that savings account has the same amount it had in it before this purchase. So I've 2-3 months.

CHIEF

[CHIEF 5078]

Silver up a dollar an ounce. Told the wife we are up $500. I've gone from inconsiderate asshole to financial genius  in less than 18 hours.

CHIEF

[Mr. Drummond 2198]

My wife doesn't get my gold buying.  I have been stacking slow and steady since about 2015.   All of a sudden all those eye rolls i got when i showed her something cool i bought, now all of a sudden is met with?   "so how much do We have?"  

 

Now its We.    Before it was "why did You buy another one?"

Edited May 17 by Mr. Drummond

[Pimphand 5733]

31 minutes ago, CHIEF said:

Silver up a dollar an ounce. Told the wife we are up $500. I've gone from inconsiderate asshole to financial genius in less than 18 hours.

CHIEF

 

23 minutes ago, Mr. Drummond said:

My wife doesn't get my gold buying.  I have been stacking slow and steady since about 2015.   All of a sudden all those eye rolls i got when i showed her something cool i bought, now all of a sudden is met with?   "so how much do We have?"  

Now its We.  Before it was "why did You buy another one?"

It's funny how reviled we are for being early to the party.  Literally this is a 44 year cup & handle formation that once it breaks loose it's going to be violent to the upside.  I wish I could say the ride was going to be fun but you will be very glad you have counterparty risk free assets in hand.

 

[CHIEF 5078]

42 minutes ago, Mr. Drummond said:

My wife doesn't get my gold buying.  I have been stacking slow and steady since about 2015.   All of a sudden all those eye rolls i got when i showed her something cool i bought, now all of a sudden is met with?   "so how much do We have?"  

 

Now its We.    Before it was "why did You buy another one?"

For sure. If I make out like a bandit, it will be "our" investment, although she will give me credit for it. If we loose money it will be totally "my stupid decision."

CHIEF

[Mr. Drummond 2198]

Can we talk Gold vs Silver?      I am a goldbug not a silverbug.   The premiums on silver and the amount of physical space it takes up always kept me from it.      I am not a doomsday scenario type person where i think i am going to be trading silver for bread and gold for land.   Hell i dont even have those little gram bars that are tear off that are sold for that thought (bartering). 

Physical Space:  @CHIEF's monster box he bought of AgMaples is about $17k  (im not being critical at all - i think precious metals are smart to do - obviously)  - that same monster box of AuMaples is $1.2 million for the same amount of space.

Gold can be had for about 3-4% premium at the 1oz coin level.    Silver is usually like 12-15%

Hell, right now SD has AuMaples for just less than 2% premium  - $39.99 over spot.        Silver Maples are at about 13.8% premium.     ASE are above 25%

So, in my little brain, silver has to do 10+% better than gold to be the better buy.  

 

Perhaps i am missing something?    what do yall think?

[Pimphand 5733]

1 minute ago, Mr. Drummond said:

Can we talk Gold vs Silver?      I am a goldbug not a silverbug.   The premiums on silver and the amount of physical space it takes up always kept me from it.      I am not a doomsday scenario type person where i think i am going to be trading silver for bread and gold for land.   Hell i dont even have those little gram bars that are tear off that are sold for that thought (bartering). 

Physical Space:  @CHIEF's monster box he bought of AgMaples is about $17k  (im not being critical at all - i think precious metals are smart to do - obviously)  - that same monster box of AuMaples is $1.2 million for the same amount of space.

Gold can be had for about 3-4% premium at the 1oz coin level.    Silver is usually like 12-15%

Hell, right now SD has AuMaples for just less than 2% premium  - $39.99 over spot.        Silver Maples are at about 13.8% premium.     ASE are above 25%

So, in my little brain, silver has to do 10+% better than gold to be the better buy.  

Perhaps i am missing something?    what do yall think?

Silver lags behind gold horribly but it will catch up and do so violently
 

Gold is so tragically overpriced compared to silver, platinum, and palladium it's not even funny.

With that said I still have ~7 lbs of gold just a paltry amount to the ~350 lbs of silver

[RDCanecutter 26393]

I have the opposite experience. When we got married I came into the union with two Mercury Dimes and one Morgan that looks like it was hit with a belt sander. Mrs. Canecutter, on the other hand, had amassed several silver settings when silver was low, because she didn't feel like waiting and squabbling with her siblings one day.

However, when a hippy coworker almost slapped me around to buy gold back when it was at 800 in 2008 (?) she replied "We don't take financial advice from hippies," and invested the cost of an ounce of gold in Vulcan Materials stock, now 10x higher.

Then when I did start stacking, she enjoys it, and would be upset if I sold much of it. The only gold coins I ever sold were a half-Sovereign and a 1/20 oz Panda, and I used the cash for two Olympic-grade epee blades. I figure gold for swords is legit Dungeons and Dragons.

[Mr. Drummond 2198]

7 minutes ago, Pimphand said:

With that said I still have ~7 lbs of gold just a paltry amount to the ~350 lbs of silver

I know which one i want to carry.  Ha.

[Pimphand 5733]

1 minute ago, Mr. Drummond said:

I know which one i want to carry.  Ha.

For sure!

[RDCanecutter 26393]

14 minutes ago, Mr. Drummond said:

Can we talk Gold vs Silver?      I am a goldbug not a silverbug.   The premiums on silver and the amount of physical space it takes up always kept me from it.      I am not a doomsday scenario type person where i think i am going to be trading silver for bread and gold for land.   Hell i dont even have those little gram bars that are tear off that are sold for that thought (bartering). 

Physical Space:  @CHIEF's monster box he bought of AgMaples is about $17k  (im not being critical at all - i think precious metals are smart to do - obviously)  - that same monster box of AuMaples is $1.2 million for the same amount of space.

Gold can be had for about 3-4% premium at the 1oz coin level.    Silver is usually like 12-15%

Hell, right now SD has AuMaples for just less than 2% premium  - $39.99 over spot.        Silver Maples are at about 13.8% premium.     ASE are above 25%

So, in my little brain, silver has to do 10+% better than gold to be the better buy.  

 

Perhaps i am missing something?    what do yall think?

In general, with either metal, buying the big thing is more efficient than buying the smaller thing. eg Look at 10 oz silver bars instead of 1 oz bits, and 1 oz gold vs. fractional.

Another thing is the mark-up on government-issued bullion vs generic. If you step away from Eagles or similar to generic, you can cut the premium to the bone, as you no doubt know. People have their reasons for whichever they want.

With the premiums, the question is "Can I get it back when I sell?" Mostly depends on where and how you sell, and how fast. So the answer is somewhere between "yes" and "no." 

Weight-wise there's no question.

[Pimphand 5733]

 

[CHIEF 5078]

2 hours ago, Pimphand said:

Silver lags behind gold horribly but it will catch up and do so violently
 

Gold is so tragically overpriced compared to silver, platinum, and palladium it's not even funny.

With that said I still have ~7 lbs of gold just a paltry amount to the ~350 lbs of silver

Yes, the split in price is why I bought silver. Silver normally trades at about 50/1 to gold. It was over 80/1 when I bought. Gold and silver guys have been saying that would correct itself. Not by gold dropping, but by silver going up to its historic trading ratio. At gold's current price, silver should be sitting above $48/oz.

CHIEF

[bernorange 8359]

Silver has entered a supply/demand deficit (new mining production < industrial demand) and above ground (vaulted) stocks have been depleting faster than most anyone would have expected several years ago.  The "West" (ie. LBMA + COMEX) vaults appear to have anywhere from 2-10 years of inventory left at the current burn rate depending upon what numbers you look at and what assumptions you make about mining production (fairly fixed), industrial demand (growing but at what rate?) and investment demand (ETFs hold a lot of vaulted metal too - will folks sell or buy?).   As we approach the tipping point where vaulted stock is sufficiently depleted and industrial demand depends entirely upon mining production, silver is really going to surprise people.

[bernorange 8359]

Quote

...
Silver has a dual character, valued both for its uses as a financial asset and an industrial input, including clean-energy technologies. The metal is a key ingredient in solar panels, and with robust growth in that industry, usage of the metal is expected to reach a record this year, according to the Silver Institute. Against that backdrop, the market is headed for a fourth year in deficit, with this year’s shortage seen as the second biggest on record.

That’s led industrial users — which typically rely on miners for supply — to seek ounces by draining the world’s major inventories, according to Silver Bullion’s Gregersen. Stockpiles tracked by the London Bullion Market Association fell to the second-lowest level on record in April, while the volumes at exchanges in New York and Shanghai are near seasonal lows.

Over the next two years, the LBMA stockpiles may be depleted given the current pace of demand, according to TD Securities. The headline figure overstates the available volume of metal given that it includes exchange-traded fund holdings, Daniel Ghali, a commodity strategist, said in an April note.

“We are slowly going to see supplies tightening because industrial demand is set to go higher,” Gregersen said. “If investors are also starting to buy, then I think in two or three months’ time, my biggest problem might end up being ‘Where do I find supply?’ rather than ‘How do I sell the silver?’”

https://finance.yahoo.com/news/hot-commodity-silver-sets-pace-233919816.html

[Shaggy3.0 1695]

Appreciate the ft.worth recs.  Purchased 8 tubes of silver generic rounds at different stores.  Then made it to dallas.  Saw these at dgse.  Had to grab em.

 

 

 

[pantone159 719]

On 5/16/2024 at 3:21 PM, RDCanecutter said:

It's not so much about being "right" about the market as it is NOT spending every last dime on stuff like beer.

This is the main investment value of precious metals, especially silver. Metal financial returns just don't match a stock index fund, so on that comparison they are poor investments. But they do very handily beat investment returns on beer. So having a fun hobby that leaves you with something of material value ain't so bad.

On the gold-vs-silver question, I figure that silver is just too bulky to bother with, so I hoard just things that I like, and that feed my inner dragon. For real money storage gold is what you want.

[bernorange 8359]

I might be crazy...

https://www.pmbug.com/threads/silver-might-10x-within-the-next-3-years.7455/

[bernorange 8359]

China seems to be buying while the USA has a holiday.  USA market open on Tuesday is going to be interesting if this continues tonight and tomorrow night.  

[Pimphand 5733]

On 5/26/2024 at 10:50 PM, bernorange said:

China seems to be buying while the USA has a holiday.  USA market open on Tuesday is going to be interesting if this continues tonight and tomorrow night.  

Yup China and India are playing Pac-Man every time the shitboxes at the COMEX drive the price down to cover their shorts.

Such idiocy (by us not them)

[Pimphand 5733]

It's become predictable at this point...

West: Hammer the fuck out of the price on Thu/Fri

East: Thank you very much you ignorant dumbfucks we will load up and force the price back up on Monday

[Pimphand 5733]

 

[bernorange 8359]

India repatriated 100 tons of gold from the Bank of England so far this year.  They said they plan to repatriate more of the remaining 300 tons.

[Pimphand 5733]

once the COMEX and LBMA go down like the cheap crack whores that they are we will finally see the moon slingshot...

[bernorange 8359]

I went by my local Costco this morning and they had 1 toz gold Buffalos for $2,359.  Great price for a Buffalo even befor factoring 2% membership rebate or CC cash back / rewards.

[Superhero 8828]

2 hours ago, bernorange said:

I went by my local Costco this morning and they had 1 toz gold Buffalos for $2,359.  Great price for a Buffalo even befor factoring 2% membership rebate or CC cash back / rewards.

It's hard to make back the premiums on Buffaloes.

The place I went shorted me on premiums when I sold silver, but made up for it (mostly) by not charging a premium on a gold Maple.

 

I still have 100+ ounces sitting in my garage that I want to trade for gold. Just haven't found the time to go to the coin shop.

[bernorange 8359]

$2359 for a Buffalo + 2% back is below current spot.  What premium?