The Price of Gold: Does It Matter?

User avatar
PhuBai68
Posts: 498
Joined: Wed Jul 05, 2017 3:23 pm
Location: Pickens County, SC

Re: The Price of Gold: Does It Matter?

Post by PhuBai68 » Sat Apr 04, 2020 12:23 pm

Gold: $1,637.40 +6.70
Silver: $14.59 +0.15
Platinum: $733.05 +9.95
Palladium: $2,253.85 +47.85
Updated: Fri Apr 3

The North Koreans actually were counterfeiting 50 and one hundred dollar bills that were almost perfect.
$400,000 got you one million in N. Korean "super notes".

My son way back invested in silver, I believe when it was about $26 or $28.
It was at $32 and I went to a place that buys gold and silver and asked about selling it, they were paying $4 an ounce less than market.
I have a friend who went to sell his gold eagles, same thing, he was offered (I believe) a couple hundred less than going rate.
The lesson is •••
Gold and silver are just like everything else - they're only worth what you can get for it.


https://www.telegraph.co.uk/news/2017/1 ... rth-korea/
It's not diversity, it's displacement.

User avatar
Wade Hampton III
Posts: 2285
Joined: Fri Oct 18, 2013 10:40 pm
Location: Pontiac, SC

Re: The Price of Gold: Does It Matter?

Post by Wade Hampton III » Thu Apr 16, 2020 2:10 am

"Gold extended its rally to hit the highest in more than seven years on concern that the coronavirus pandemic will have a deep effect on the global economy, hammering corporate earnings while supercharging demand for havens. Gold prices in New York moved closer to $1,800 an ounce, a level last seen in 2011. Spreads between futures and spot prices remain wide, suggesting thinner liquidity, which is further exacerbating price dislocation. 'Liquidity conditions are challenging and market participants are understandably cautious,' said precious metal strategist Joni Teves....Bullion has soared this year as the global heath crisis tipped economies toward recession and spurred central bank interventions....Overall, gold still has room to run, according to Hans Goetti, founder and chief executive officer of HG Research. 'What's happening here is that the Fed is expanding its balance sheet and every other central bank in the world is doing the same,' he told Bloomberg TV. 'What you're looking at is massive currency debasement in the long term. That's the major reason why gold is higher, and I would think that over the next few weeks or months, we're probably going to retest the high that we saw in 2011.'"

User avatar
Wade Hampton III
Posts: 2285
Joined: Fri Oct 18, 2013 10:40 pm
Location: Pontiac, SC

Re: The Price of Gold: Does It Matter?

Post by Wade Hampton III » Wed Jul 22, 2020 10:53 pm

Silver would be the best asset to hold
(in addition to certain crypto/digital
assets) if the dollar crashed to worthlessness.
Additionally, silver would be better to
hold than gold as historically the gold/
silver ratio has been around 15:1 (over
the last 1000+ years), that is - on average -
one ounce of gold could purchase 15 ounces
of silver. However, the ratio today is much
higher — on the order of over 100:1 or so.
Readers of this forum no doubt know that this
is largely due to the silver shenanigans
practiced by Jamie Dimon over at JPMorgan.
So, for silver to revert to that mean average
in the future, which it likely will or at
least closer to it, will result in it being
a far better asset to hold than gold, because
it will increase in value relative to gold
as time goes on, especially in distraught
financial markets.

Also, silver can be held in various forms,
such as one ounce rounds, bars, or even
what is referred to as “junk” silver —
pre-1965 U.S. silver coins (such as dimes,
quarters and half dollars) that contain
90% silver content. These enable one to
utilize it effectively in the purchase of
items on a daily basis, due to their smaller
denomination. For instance, at the current
(approximate) $20/oz. for silver, a mercury
dime is worth roughly $1.34, so could be
used for things such as bread, eggs, etc.

As to exactly how much silver would be worth
when the dollar crashes to nothing is anyone's
guess, but it could very easily be worth
hundreds of today's dollars an ounce. For
sake of argument, lets say the dollar crashes
to nothing and silver ends up at $300/oz. A
mercury dime would be worth (approx.) $22.25
EACH; Franklin quarters would be worth about
$55 each; half dollars, about $110 each. At
that point, even smaller coins such as pennies
with copper, or real nickels (that is with
nickel in them) can provide smaller purchasing
denominations.

Historically, over the last 5,000 years, gold
and silver have been the ultimate source of
money, when other forms fail. Now we have
crypto/the blockchain too. There are some
opportunities for wealth preservation in
that sector as well.
69685
Gold-Silver Ratio
Gold-Silver Ratio
69685.jpg (436.72 KiB) Viewed 374 times

User avatar
Jim Mathias
Posts: 1856
Joined: Mon Jun 13, 2016 8:48 pm

Re: The Price of Gold: Does It Matter?

Post by Jim Mathias » Thu Jul 23, 2020 2:06 am

even smaller coins such as pennies with copper, or real nickels (that is with nickel in them) can provide smaller purchasing denominations.
The pennies being referred to here that are made of nearly pure copper (95% copper, actually. The rest is tin/zinc) were made before 1983 and are still in circulation today.

"Nickels" have been and are an alloy of 75% copper and 25% nickel. Since they first came out in the 1860s, this composition has been roughly the same all these years except for pieces minted from mid-1942 through 1945 where these were made in an alloy of 35% silver and the rest copper/manganese. Canada produced nearly pure nickel coins in denominations from 5c-25c since the late 1960s. I believe Canadian pennies minted before the late 1990s (1997?) were of near pure copper as well.
Activism materials available! ===> Contact me via PM to obtain quantities of the "Send Them Back", "NA Health Warning #1 +#2+#3" stickers, and any fliers listed in the Alliance website's flier webpage.

Grimork
Posts: 64
Joined: Wed Jun 24, 2020 4:34 pm
Location: North Carolina

Re: The Price of Gold: Does It Matter?

Post by Grimork » Thu Jul 23, 2020 4:42 am

Does this have anything to do with the so-called "national coin shortage" that's supposedly going on?

User avatar
Wade Hampton III
Posts: 2285
Joined: Fri Oct 18, 2013 10:40 pm
Location: Pontiac, SC

Re: The Price of Gold: Does It Matter?

Post by Wade Hampton III » Thu Jul 23, 2020 1:40 pm

Grimork wrote:
Thu Jul 23, 2020 4:42 am
Does this have anything to do with the so-called "national coin shortage" that's supposedly going on?
I rather doubt it. My ear has it that the sheeple are worried
that they could get the "Covic-19 virus" by coming in contact
with the metallic coins. Why this rationale does not apply to
paper currency is beyond me. Plumbing the depths of the
American sheeple is an exercise in futility.

User avatar
PhuBai68
Posts: 498
Joined: Wed Jul 05, 2017 3:23 pm
Location: Pickens County, SC

Re: The Price of Gold: Does It Matter?

Post by PhuBai68 » Mon Jul 27, 2020 12:35 pm

The only real problem with gold (or anything precious actually) is getting what it's supposed to be worth.

My son bought a boatload of silver at either $26 or $28 an ounce years ago.
Then it went down
↓↓↓ on him.
Some years later back up to $32 so I went to the local jewelry "we buy gold & silver" store in town asking about unloading it.
His offer was $28, a $4 an ounce under value price.
I have heard the same thing from a friend that had that happen with gold only instead of knocking a few dollars off the value it was a couple/few hundred dollars.
Stuff is only worth what you can get for it sadly.
I had a Winchester model 70 made around 1948-50 in .257 Roberts with a Weaver V9 scope - that rifle should have brought somewhere north of $2000 at auction, ONE bidder walked away with it for $1100.


Gold: $1,938.71 +39.21
It's not diversity, it's displacement.

Post Reply