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Joined: Jan 2012
Posts: 26,679 Likes: 11
Campfire Ranger
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Campfire Ranger
Joined: Jan 2012
Posts: 26,679 Likes: 11 |
Thanks Grandad!!!
He was head cashier/teller at a local bank back in the 40's-50's & early 60's.
He went through all of the tills evenings and picked out any gold and valuable silver.
Dad has been gifting it to my brothers and I each Christmas. Embezzler, huh? Nope, he replaced anything he took with 'Legal Tender' I should have add a 😀 I figured..... Damn glad that he did it! Have several $20, 10, 5 gold coins along with many, many silver $1's, .50, .25, .10
FJB & FJT
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Joined: May 2008
Posts: 5,208 Likes: 9
Campfire Tracker
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Campfire Tracker
Joined: May 2008
Posts: 5,208 Likes: 9 |
Thanks Grandad!!!
He was head cashier/teller at a local bank back in the 40's-50's & early 60's.
He went through all of the tills evenings and picked out any gold and valuable silver.
Dad has been gifting it to my brothers and I each Christmas. Embezzler, huh? Nope, he replaced anything he took with 'Legal Tender' I should have add a 😀 I figured..... Damn glad that he did it! Have several $20, 10, 5 gold coins along with many, many silver $1's, .50, .25, .10 Now I wish I was related to an embezzler! 😀
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Joined: Oct 2010
Posts: 7,847 Likes: 16
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,847 Likes: 16 |
I don't consider PMs to be investments. I consider them to be insurance. That is a good way to look at them.
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Joined: Jun 2002
Posts: 132,013 Likes: 61
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,013 Likes: 61 |
I don't consider PMs to be investments. I consider them to be insurance. That is a good way to look at them. Indeed, however, as Mike Maloney points out, it can also be a vehicle (from time to time, at key points in history) for massive transferences of wealth, i.e., from those who do not possess it to those who do.
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Joined: Nov 2002
Posts: 33,823 Likes: 16
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,823 Likes: 16 |
Curious what percent of ones total "investment" portfolio do folks have in precious metals?
Conduct is the best proof of character.
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Joined: Dec 2013
Posts: 13,236 Likes: 15
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,236 Likes: 15 |
Curious what percent of ones total "investment" portfolio do folks have in precious metals? Are you talking PM funds (paper gold) or PMs in hand? Or both combined?
Last edited by Hastings; 12/28/22. Reason: added last sentence
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
Hebrew Roots Judaizer
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Joined: Jan 2007
Posts: 1,301
Campfire Regular
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Campfire Regular
Joined: Jan 2007
Posts: 1,301 |
I bought quite a bunch in 2019 for $14.50 an ounce. I would say that was a better investment than most of your tech stocks. Pawn shop here is paying $.50 or so over spot just to try to keep a little inventory. I predict it will push $30 per ounce in 2023. I say hold some but diversify if you can in stocks, land, guns and gold 😁
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Joined: Jul 2006
Posts: 4,888 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Jul 2006
Posts: 4,888 Likes: 5 |
On another note, there is something strange about the lack of rise in precious metal prices considering the inflation which is devaluing the fiat currency of the USA. No sir, not strange at all. Precious Metals keep up with inflation over the very long term but don't do well during periods when the Fed is raising rates. I've seen this movie before. During the last year, the dollar HAS NOT BEEN DEVALUING against other currencies and risk assets and PM's are sort of a hybrid....part commodity, part currency, part risk asset. The fact that the dollar has been devaluing against gas and groceries is throwing people a curve ball. I think its a pretty good chance that when the Fed goes back to easy money, likely after it breaks the economy, the PMs could go on a run and perhaps lead the risk assets on the way back up for a time....that will be your adjustment for inflation. I've noticed on this last dip in stocks, PMs are holding up pretty good on a relative basis.....actually very good. During some cycles PMs bottom months before the stock market. Do you think there is fear hiding in the background that precious metals like gold could again be made unlawful for private ownership? There was prison threatened the last time if you hoarded gold. That could put a damper on prices. No, I don't think that is an issue for the foreseeable future. Right now its all about rates.
"Men must be governed by God or they will be ruled by tyrants". --- William Penn
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Joined: Jan 2012
Posts: 67,558 Likes: 68
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,558 Likes: 68 |
I bought quite a bunch in 2019 for $14.50 an ounce. I would say that was a better investment than most of your tech stocks. Pawn shop here is paying $.50 or so over spot just to try to keep a little inventory. I predict it will push $30 per ounce in 2023. I say hold some but diversify if you can in stocks, land, guns and gold 😁 A pawn shop paying MORE than something’s worth? They must smoking that $300 a lb weed
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Joined: Jan 2012
Posts: 45,040 Likes: 29
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2012
Posts: 45,040 Likes: 29 |
I got some real copper pennies upstairs in a glass jar mixed in with those new fangled ones I bet....
#justwantinclusioninthethread!!!
👍🏻🤘🤗🏴☠️🏴☠️🏴☠️🤗🤘👍🏻
Arrrrgh....
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Joined: Jun 2002
Posts: 132,013 Likes: 61
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,013 Likes: 61 |
I bought quite a bunch in 2019 for $14.50 an ounce. I would say that was a better investment than most of your tech stocks. Pawn shop here is paying $.50 or so over spot just to try to keep a little inventory. I predict it will push $30 per ounce in 2023. I say hold some but diversify if you can in stocks, land, guns and gold 😁 A pawn shop paying MORE than something’s worth? They must smoking that $300 a lb weed Spot isn't "what something's worth." Spot is merely the paper contract price, i.e., the price to hold a contract that says it's based on silver, but isn't really. It's a written promise that's well known not to be deliverable, so naturally it goes for less than the real thing in the hand.
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Joined: Jan 2006
Posts: 5,721 Likes: 9
Campfire Tracker
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Campfire Tracker
Joined: Jan 2006
Posts: 5,721 Likes: 9 |
Fifty cents over spot is a BARGAIN unless you are one of those who insist you only buy below spot. The large PM sites usually sell small amounts of silver eagles for roughly $15 over spot. A person would have to be a retarded fool to sell silver for below spot.
I would buy silver eagles all day long for $1 over spot
My biggest fear is when I die my wife will sell my guns for what I told her they cost.
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Joined: Nov 2002
Posts: 33,823 Likes: 16
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,823 Likes: 16 |
Curious what percent of ones total "investment" portfolio do folks have in precious metals? Are you talking PM funds (paper gold) or PMs in hand? Or both combined? Both.
Conduct is the best proof of character.
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Joined: Dec 2013
Posts: 13,236 Likes: 15
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,236 Likes: 15 |
Today Money Metals Exchange will buy your Eagles for $27.78 or sell you some for $39.96 if you buy over 500 at spot of $23.78. So you are getting $4 premium or paying a $16.18 premium or about 168% of the melt value. Fifty cents over spot is a BARGAIN unless you are one of those who insist you only buy below spot. The large PM sites usually sell small amounts of silver eagles for roughly $15 over spot. A person would have to be a retarded fool to sell silver for below spot.
I would buy silver eagles all day long for $1 over spot
Last edited by Hastings; 12/28/22. Reason: added last sentence
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
Hebrew Roots Judaizer
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Joined: Dec 2013
Posts: 13,236 Likes: 15
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,236 Likes: 15 |
Curious what percent of ones total "investment" portfolio do folks have in precious metals? Are you talking PM funds (paper gold) or PMs in hand? Or both combined? Both. Personally about 35% that I know of but I have some commodity funds that are invested in various commodities some of which are surely precious metals.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
Hebrew Roots Judaizer
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Joined: Mar 2009
Posts: 7,177
Campfire Tracker
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Campfire Tracker
Joined: Mar 2009
Posts: 7,177 |
For those of you that have American eagle silver dollars, do y’all hang on to those or sell when prices get higher. I understand they have more of a value but don’t know how or why? Wanting to learn more about them
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Joined: Jan 2007
Posts: 1,301
Campfire Regular
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Campfire Regular
Joined: Jan 2007
Posts: 1,301 |
I bought quite a bunch in 2019 for $14.50 an ounce. I would say that was a better investment than most of your tech stocks. Pawn shop here is paying $.50 or so over spot just to try to keep a little inventory. I predict it will push $30 per ounce in 2023. I say hold some but diversify if you can in stocks, land, guns and gold 😁 A pawn shop paying MORE than something’s worth? They must smoking that $300 a lb weed Spot isn't "what something's worth." Spot is merely the paper contract price, i.e., the price to hold a contract that says it's based on silver, but isn't really. It's a written promise that's well known not to be deliverable, so naturally it goes for less than the real thing in the hand. Had an old farmer here who is long passed away, but he would say, "If I could buy you for what you're worth and sell you for what you think you're worth, I'd be a rich man." I will buy a lot of silver if I could get it for $.50 over spot. Haven't sold ANY for over 20 years. I call the wife the silver whore. She gets silver, I get guns.
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Joined: Jun 2002
Posts: 132,013 Likes: 61
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,013 Likes: 61 |
US Silver Eagles are the worst possible way to go nowadays. I bought a few dozen way back when they were a couple dollars over spot, but that was a long time ago. Recently they were commonly selling for spot x2.
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Joined: Jul 2015
Posts: 14,780 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2015
Posts: 14,780 Likes: 5 |
US Silver Eagles are the worst possible way to go nowadays. I bought a few dozen way back when they were a couple dollars over spot, but that was a long time ago. Recently they were commonly selling for spot x2. I agree. Junk silver & generic for the win. In a EOTWAWKI situation, there's no way I'd trade items for less silver just because the silver was US Mint. Silver Town has a much better record of honesty than .Gov!
Politics is War by Other Means
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Joined: Jan 2006
Posts: 5,721 Likes: 9
Campfire Tracker
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Campfire Tracker
Joined: Jan 2006
Posts: 5,721 Likes: 9 |
For those of you that have American eagle silver dollars, do y’all hang on to those or sell when prices get higher. I understand they have more of a value but don’t know how or why? Wanting to learn more about them I been dabbling in silver for well over 40 years. Still own some that was bought in the $14 range. I came to the conclusion it is easier to collect than make money off of. Sure, I could sell some eagles today and make some profit but that’s after holding them for many years. Most pawn shops and online retailers only pay a little over spot. Then factor in shipping and insurance costs. The best way to sell is locally for a few dollars less than big dealers charge or online at forums such as these. Making money buying/selling gold/silver is difficult. Good luck
My biggest fear is when I die my wife will sell my guns for what I told her they cost.
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