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  • 2 weeks later...

Mrs. Canecutter is now into collecting base-metal dollar coins so at the credit union I'll pick her up a roll of this or that. 9/10 of them never make it into the book, and sit there on the shelf. Well at least my son will have an inheritance.

The other day I dropped into the coin shop looking for cheap Bo Dollars (Ikes) for her. They usually have a few ordinary coins that people bring in because eBay tells them it's a $50 rare dollar coin. Nope, but here's a dollar if you want it.

No such luck. So I decide to be a tycoon and grab her a Bicentennial 40% silver one for 8 bucks. Don't tell her it's silver. She puts it in the book, yawns, forgets about it.

Me: "You know that one is silver, right?"

She: "No that mintmark can't be silver."

"I'm pretty sure it's silver. Did you see the edge?"

"Yeah the edge looks silver. But it can't be silver."

:D

 

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Ran my credit card up a bit past month. 

In the past, bought a good bit of really generic silver bars and rounds at maybe 25 average. Generic so I'd have no attachment to them.

I find myself driving past coin shops,

that aren't on the way home.

[edit: realized this is a bit mysterious. Credit card was for non-PM stuff. Thinking about ditching some silver to kill the bill like that kid shooting Ol' Yeller.]

Edited by RDCanecutter
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I'm cleaning out my mom's place (she is now in memory care). One thing I've learned is that the "valuable antiques" that were given places of care and honor growing up are mostly worthless baubles. China is not sought after (the people who loved it are dieing or dead), crystal is worse. Antique furniture is frequently not worth the storage. I've been turned down by 2 consignment shops already. 

The only things really worth saving (between both my parents) have been: sterling silverware (mostly for melt value), guns (though of they'd been sold in 1980 and invested, it would be worth way more), and tools (you can always get $40 for a decenr circular saw). The family jewelry was already passed down, and even that is mostly unfashionable. 

So I guess what I'm saying is that while I am dubious about "investing" in silver and gold, it is definely way better than most manner of illiquid markers of class and wealth. At least our heirs can take it down to the coin shop and get some fair value with minimal effort.

Also... anyone want a vast antique ashtray collection?

Edited by CleverNickname
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8 minutes ago, bernorange said:

You'll either laugh or cry...

 

Thus ever is its fate. Think about all the indigenous art that the Spaniards melted into ingots so they could ship it home and win the fair hand of María Dolores Culo Podrido de la Finca de Chicharrones de Pedos Pantanescos.

Couple months ago I was in the biggest coin shop around here, and they were sending Gold Eagles off to melt. They would have happily sold them to customers, but when the fish don't bite, still gotta keep the cash flow.

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Still spitting up light Covid chunks, so not the time to go corner my favorite silver guy in his tiny store to sell my stuff. And he is going to an out of town coin show until Monday.

Called him and asked prices. His generic silver (what I'm selling) has had the premium evaporate. He buys it a dollar under spot and sells it a dollar over. 29 would still beat what I paid for mine by about 16%.

Ah well, it'll do one of three things by Monday, up, down, stay the same, and two of those are a win. Main thing is to get a patch on this sucking chest wound of credit card.

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And of course silver took a dump the day I could sell it at the shop. Was waffling about even going through with it, but remembered that the mission was to murder interest-generating Credit Card debt so I pulled the trigger. $28.50/oz for generic, ie a dollar back of spot. About 14% higher than what I bought it at if anybody's giving out cookies.

So tomorrow if it shoots up to 35, that's me, team.

Edited by RDCanecutter
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Quote

...
Now, a spike in so-called lease rates in London this week signals that an increasingly frenetic global hunt for bullion is under way as major dealers seek to shift metal to the US before any tariffs are imposed. 

Lease rates reflect the return that holders of bullion in London’s vaults can get by loaning their metal out to other buyers on a short-term basis. Normally, the returns on offer sit close to zero, but this week they’ve surged to historic levels, with profits on one-month lease rates exceeding 3.5% on an annualized basis. 

That’s the highest level since at least 2002, and it signals surging demand for metal in London’s vaults. There have been similarly extreme moves in the silver market, and some analysts and traders warn that there may not be enough freely available metal to meet dealers’ needs.
...

https://www.bloomberg.com/news/articles/2025-01-17/trump-tariff-risks-are-fueling-a-chaotic-hunt-for-gold-in-london/

 

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