Jump to content

Gold bug / silver bug / numismatic / metals thread


52-80

Recommended Posts

  • 4 weeks later...

Digging thru my stash and remember i got this: limited edition 25th anniversary philharmonik gold proof set of 1oz + 0.25oz. Bought one of the few remaining ones directly from the mint. 

Paid ~1500 and now its well north of ~3000, and thats for the individual coins, without premium of the set 

Also have receipt for some other bars and coins but have no idea where the items are!

IMG_7915.jpeg

  • Hook 'Em 2
  • Like 1
  • Drool 2
Link to comment
Share on other sites

  • 2 weeks later...
On 8/9/2024 at 4:08 PM, RDCanecutter said:

Honestly I haven't thought about metals since the prices shot up. I am under spousal orders not to sell, and I think there's too much chance it'll go down again to buy.

I finally got Mrs. CHIEF to realize that what I have bought up is not really an investment. It is never to be sold. I bought it to have something to trade with if the dollar becomes worthless. It might not happen in my lifetime, or even her lifetime. But could definitely happen in CHIEF Jr.'s lifetime. I think having precious metals for such a situation is prudent.

CHIEF

  • Hook 'Em 1
  • Drool 1
Link to comment
Share on other sites

4 hours ago, CHIEF said:

I finally got Mrs. CHIEF to realize that what I have bought up is not really an investment. It is never to be sold. I bought it to have something to trade with if the dollar becomes worthless. It might not happen in my lifetime, or even her lifetime. But could definitely happen in CHIEF Jr.'s lifetime. I think having precious metals for such a situation is prudent.

CHIEF

I'm 10% buying it as a savings, and 90% because it's shiny and heavy.

You could stun an ox with a well-thrown Panamanian 20 Balboas coin.

Link to comment
Share on other sites

Bought quite a bit of silver bars and a bit of gold around 18 months ago when silver was $20.  Now up 50% in the silver, around 10% in the gold.  Seriously wondering if it's time to sell or just keep it.  I definitely don't need the cash at all.  I'll probably just keep it and end up giving it to my kid when I die.  I'm currently 36 years old.  That'll be a nice little chunk of change for him.

  • Hook 'Em 1
  • Drool 1
Link to comment
Share on other sites

  • 3 weeks later...

How do the local bugs feel about the mining stocks...specifically ETFs like the $GDX & $GDXJ ?

I personally got out of the physical metals (for varied reasons), but have enjoyed a nice run-up recently leveraging (e.g. gambling) some Roth funds to ride the wave with the miners.

Schiff claims there's a huge variance between the current ATH of spot in relation to where the miners "should be", but I don't know enough about the nature/costs/geopolitics of those companies to have an intelligent opinion.

Link to comment
Share on other sites

2 hours ago, Muny_Tex said:

How do the local bugs feel about the mining stocks...specifically ETFs like the $GDX & $GDXJ ?

I personally got out of the physical metals (for varied reasons), but have enjoyed a nice run-up recently leveraging (e.g. gambling) some Roth funds to ride the wave with the miners.

Schiff claims there's a huge variance between the current ATH of spot in relation to where the miners "should be", but I don't know enough about the nature/costs/geopolitics of those companies to have an intelligent opinion.

Not really a miner, but I threw a hundred bucks into Royal Gold a few months ago. Up to maybe 140 now. Take that, Buffett.

  • Hook 'Em 1
Link to comment
Share on other sites

On 9/16/2024 at 5:19 PM, RDCanecutter said:

ALMOST went and bought an ounce of silver last week, just for something to do. Mainly I like being a fly on the wall, watching folks come in and share the word on the street. (Yo.)

But at these prices I am just not feeling it. Anybody else?

I do not have a crystal ball but this is my prediction (note not financial advice)....

Fed pivot to the rate cutting cycle has always been the requisite precursor to the honest to goodness gold and silver bull mania we have been waiting for.  With that said it won't happen tomorrow though we are likely to watch the stock market inflate to all time highs by the end of next month.  Then IMHO the selloff will start in earnest which the paper market will drag the derivative price down with it during the margin call selloffs.  If you go back and look at the silver price in 2008 you can see it fell 50% once the selloff started then it took most of 2009 to recoup but then in 2010 and early 2011 it took off like a rocket.  I expect history to not necessarily repeat but rather rhyme in that don't be discouraged if you see us plumb back down to $20/oz in silver you will struggle to find any bullion dealer/LCS who will sell it at that price I expect the premiums to fill that gap but once the normies catch the panic and the flight to safety starts I think we are headed to some crazy crazy territory this go round but you still have some time (I think).

TL;DR I always buy as much silver < $30/oz as I can possibly hang on to.  I will still buy above that threshold but I usually keep it to smaller purchases and don't go too wild.  On Tuesday of last week I made my two most recent silver purchases (mint certified 2024 American Silver Eagle tube & 90% Franklin Half Dollar book) for my birthday. I was gun shy about it because silver usually bottoms out in September and yet it has gone up close to $2.50/oz since then so what TF do I know? ;-)

On 9/16/2024 at 7:54 PM, Muny_Tex said:

How do the local bugs feel about the mining stocks...specifically ETFs like the $GDX & $GDXJ ?

I personally got out of the physical metals (for varied reasons), but have enjoyed a nice run-up recently leveraging (e.g. gambling) some Roth funds to ride the wave with the miners.

Schiff claims there's a huge variance between the current ATH of spot in relation to where the miners "should be", but I don't know enough about the nature/costs/geopolitics of those companies to have an intelligent opinion.

My primary concern with miners are if the SHTF scenario pans out they will be great to own provided A) your brokerage is around to honor your shares (counterparty risk) and B) the mine is located in a friendly country not likely to nationalize (see: not Mexico and similar).  With that said spectacular gains are to be had to be sure.  Check out David Morgan https://www.themorganreport.com/

Edited by Pimphand
  • Hook 'Em 1
Link to comment
Share on other sites

^^^Really good points RE: counter-party risk...That is key reason why I'm no longer interested in the $GLD spot ETF...Seems like the moment the global price truly erupts is when it becomes revealed that they don't actually possess the physical inventory they claim and the whole fund falls apart in a matter of minutes/hours.

But I guess owning a basket of miners/juniors via GDX/GDXJ contains the same systemic risk it's just spread out across a larger pool of actors.  That said, if SHTF and we have the sovereign debt crisis / currency collapse that puts gold into orbit, my personal cache of physical bullion (or lack thereof) will be least of my worries.  I'd rather just stock up on canned food, batteries, shitter paper, bullets, antibiotics etc and barter that shit than dig through trying to exchange coins/bars just to acquire the same stuff on black market. 

Edited by Muny_Tex
  • Hook 'Em 1
Link to comment
Share on other sites

I think if we get a SHTF, it's more likely to be a few specks flying at that fan, rather than a whole turd knocking the fan off the shelf and breaking it. Think slipping from present-day US to present-day... not even Mexico, maybe 1980s UK or Spain. Functional markets, maybe lots more walking and carpooling, eating more beans and rice.

For a world-falls-apart extreme, you wanna be the well-digging man. Everybody will need that water.

  • Hook 'Em 2
Link to comment
Share on other sites

13 hours ago, Muny_Tex said:

^^^Really good points RE: counter-party risk...That is key reason why I'm no longer interested in the $GLD spot ETF...Seems like the moment the global price truly erupts is when it becomes revealed that they don't actually possess the physical inventory they claim and the whole fund falls apart in a matter of minutes/hours.

But I guess owning a basket of miners/juniors via GDX/GDXJ contains the same systemic risk it's just spread out across a larger pool of actors.  That said, if SHTF and we have the sovereign debt crisis / currency collapse that puts gold into orbit, my personal cache of physical bullion (or lack thereof) will be least of my worries.  I'd rather just stock up on canned food, batteries, shitter paper, bullets, antibiotics etc and barter that shit than dig through trying to exchange coins/bars just to acquire the same stuff on black market. 

They will come through with UBI and CBDC and offer it to the masses whom they will have brought to their knees.  They will agree to it and in true Stockholm syndrom thank their prison guards.   The only way to reject it is to have commodities in hand and yes that list of commodities would carry value as well ;-)

You can already see the overseas environments have been getting hostile towards non-national mining operations just look at Fortuna Silver Mines (based out of Canada)...

https://www.mining.com/fortuna-silver-takes-90-6m-charge-on-mexican-mine-closure/

Closed San Jose mine, Mexico along with impairment charges from Burkina Faso & Argentenian mines as well.

Link to comment
Share on other sites

  • 2 weeks later...

Bought my first silver since 2023. A buck-forty of dimes. I got a couple of Barbers, and the rest Roosevelts, some with post-1964 dates because they came out of silver proof sets. $31.50 an oz., melt.*

It's eerie looking at a dime dated 1990s that's silver. Gotta train my heirs to look at edges.

The 50 cent piece is my change. I'll use it to bamboozle child cashiers who've never seen one.

*D'oH just realized that the proof set dimes are 99.9% silver, not 90%. I got 2 or 3 bucks free silver. Only 400,000 more trips and that's a million free dollars.

IMG_0885.jpg

  • Hook 'Em 2
  • Haha 1
Link to comment
Share on other sites

On 10/21/2024 at 9:09 AM, bernorange said:

Waiting on @Superhero to verify that he sold his silver...

Haha. I saw the headlines lately and wanted to come by and say that I had not traded my silver for gold just yet. 

Just to be clear, I’m not exiting from precious metals. I’m just trying to make my stash more portable. Carrying 40 lbs in a duffle bag can make a man tired very quickly. 

  • Hook 'Em 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...