What's new
By:
Filters

*Official* Silver/Gold thread

So I read the article and the crime was “spoofing”. From what I gather, they put in a huge buy or sell order and wait for the market to get wind of it and react. Then they would cancel the order. I assume they would actually do the opposite to make money. I fail to see this as criminal. If I put in an order to buy something and it suddenly went up, I would cancel to. It seems to me the people reacting to the order and driving the price up or down are making a mistake. You would think others would learn not to trust rumors.

I don’t believe this kind of manipulation is keeping the price down overall. That is what the feds should really be looking at, but of course, they want the price to stay down.
 
WaterH said:
So I read the article and the crime was “spoofing”. From what I gather, they put in a huge buy or sell order and wait for the market to get wind of it and react. Then they would cancel the order. I assume they would actually do the opposite to make money. I fail to see this as criminal. If I put in an order to buy something and it suddenly went up, I would cancel to. It seems to me the people reacting to the order and driving the price up or down are making a mistake. You would think others would learn not to trust rumors.

I don’t believe this kind of manipulation is keeping the price down overall. That is what the feds should really be looking at, but of course, they want the price to stay down.
Click to expand...
pump and dump is crime, bro
 
[486] said:
pump and dump is crime, bro
Click to expand...
True. But did they promote the pump or just have the order in? Nothing wrong with having a HUGE short or long order in. Nowadays with modern tech its: A:easier to leak that info (aka pump) or B:get spied on electronic or otherwise and someone try and expose your plans. The pump and dump was made famous in the wolf of Wall Street days with firms directly pumping stocks by calling people and lying to them directly.
 
Safe Dude said:
Gold and Silver down , looks like a good time to buy ?
Click to expand...
IMG_9152.png
DXY has been on a tear and is inversely correlated.
 
OK, here’s a question for you. I bought “Queen’s Beasts” gold coins as they came out. My brothers both told me I was nuts because I paid an extra $20 per coin over spot vs a Eagle. Eventually, I have a complete set. A complete set is eleven coins that is worth approximately 20 grand in gold. On eBay, they are selling a set for 32 grand. They are not just offering it at 32 grand, there are completed sales at that price just a couple weeks ago.

Now my brothers are saying sell and replace with eagles. What say Irate?
 
WaterH said:
OK, here’s a question for you. I bought “Queen’s Beasts” gold coins as they came out. My brothers both told me I was nuts because I paid an extra $20 per coin over spot vs a Eagle. Eventually, I have a complete set. A complete set is eleven coins that is worth approximately 20 grand in gold. On eBay, they are selling a set for 32 grand. They are not just offering it at 32 grand, there are completed sales at that price just a couple weeks ago.

Now my brothers are saying sell and replace with eagles. What say Irate?
Click to expand...
well yeah collector value is worthless and dependent upon disposable money
 
WaterH said:
Now my brothers are saying sell and replace with eagles. What say Irate?
Click to expand...
If you sold how much would you receive in profit?

I ask because if you are looking to gain more gold, then using the profit to lever up your stack is a good thing.

I would start researching the collector angle, just to see if this is a good or bad time to sell. Collectors will have a different mindset than the gold accumulator.
 
Mr Stubs said:
If you sold how much would you receive in profit?

I ask because if you are looking to gain more gold, then using the profit to lever up your stack is a good thing.

I would start researching the collector angle, just to see if this is a good or bad time to sell. Collectors will have a different mindset than the gold accumulator.
Click to expand...
Well I probably paid an average of $1350 an ounce, so I would be making money no matter. But the question is will the collectable angle get even more. When I bought them, it really wasn’t to make more money. It was just to have something different. I didn’t mind the small extra cost since I allready have a number of eagles/Buffalos, etc. Now, I would never pay that much over spot.

I bought gold mainly for insurance if the dollar crashes. If the dollar were to crash now, obviously the spot price would sky rocket, but would these be worth even more?
 
I don’t know… that’s the collector angle I guess.


I would me more inclined to pay a premium when overall price is low. One could argue that a collector is not concerned with price and will acquire at any level due to the scarcity…
 
WaterH said:
OK, here’s a question for you. I bought “Queen’s Beasts” gold coins as they came out. My brothers both told me I was nuts because I paid an extra $20 per coin over spot vs a Eagle. Eventually, I have a complete set. A complete set is eleven coins that is worth approximately 20 grand in gold. On eBay, they are selling a set for 32 grand. They are not just offering it at 32 grand, there are completed sales at that price just a couple weeks ago.

Now my brothers are saying sell and replace with eagles. What say Irate?
Click to expand...

If you're trying to decide to sell or hold, put yourself on the other side of the transaction, how many usd would you pay to keep these collectibles you have?

I'd dump them, collectibles don't fare well in tough times, like 486 said, it's fluff that comes from disposable income
 
2big bronco said:
So now they are selling coins that are easily dividable

Screenshot_20230930_074738_Samsung Internet.jpg
Click to expand...
not really worthwhile, imo
just get bars and as large as practical to get the best price available

if you're trading in metal, you've got to verify all of it is genuine and a bunch of little bits is very annoying where larger chunks are much easier to verify density figures on, then chisel off enough to 'make weight'
 
[486] said:
not really worthwhile, imo
just get bars and as large as practical to get the best price available

if you're trading in metal, you've got to verify all of it is genuine and a bunch of little bits is very annoying where larger chunks are much easier to verify density figures on, then chisel off enough to 'make weight'
Click to expand...

I think its more of a novelty to cater to "prepers" who think they may be trading 1/4 oz of silver for 2 chickens and a loaf of bread in the future.


In other news I bought a 1 kilo bar from jm bullion recently "in any condition" and it looks like it was genuinely burried for the last 100 years in some very acidic soil. It apears to be delaminating and extremely rough. Ill try to remember to grab some pics later.
 
make sure you weigh it, the big ones do seem to vary a li'l tiny bit

also last I looked JM's prices were pretty 'upmarket' from the other sellers
 
[486] said:
make sure you weigh it, the big ones do seem to vary a li'l tiny bit

also last I looked JM's prices were pretty 'upmarket' from the other sellers
Click to expand...

I weighed it. What sellers are you seeing cheaper? Generally jm has been on the low side so I usually dont shop around. Ill probably buy another kilo this week so I guess I should.
 
2big bronco said:
I weighed it. What sellers are you seeing cheaper? Generally jm has been on the low side so I usually dont shop around. Ill probably buy another kilo this week so I guess I should.
Click to expand...
Just looking at 10oz bars, Scottsdale Mint and APMEX are both cheaper right now on most of them. APMEX also runs a lot of "app only" deals if you're willing to shop from your phone.
 
2big bronco said:
So now they are selling coins that are easily dividable

Screenshot_20230930_074738_Samsung Internet.jpg
Click to expand...

I don’t understand why you would not just get smaller coins.

Projectjunkie said:
If you're trying to decide to sell or hold, put yourself on the other side of the transaction, how many usd would you pay to keep these collectibles you have?

I'd dump them, collectibles don't fare well in tough times, like 486 said, it's fluff that comes from disposable income
Click to expand...

Im kind of thinking your right. The only thing is I have something to show people. If I just have a stack of Eagles, they are all the same. Of course, if I can have a larger stack or the same stack and 10 grand, that would be nice.
 
WaterH said:
I don’t understand why you would not just get smaller coins.
Click to expand...

Yeah, it's a novelty to skin a little extra off a Fudd/ novice imo


If/ when things got to that point, and I needed a gallon of milk at the Bodega I'd speak quietly to the Arab, look both ways, and dramatically pull 45 cents in pre 65 coins from my pocket wrapped in a piece of cloth.

Never mind the bulk I've got stashed :laughing:



Buy some pre 65 coins for daily expense type transactions in a shtf scenario

Same as the guy that takes 100s to a yard sale, gotta keep those tucked away and have 5s handy
 
My $0.02 as someone fairly new to the metals market, but following investing trends for the last couple of years.

Gold/silver aren’t really intended to be “day traded” to turn a profit, the premiums sort of prevent it. People that had no real interest in holding metals were moving money there last year as it was pretty much the only “safe haven” with stocks in limbo, real estate fairly volatile, inflation at 9%, recession fears, etc.

They bought into it to hedge against any losses (it’s real purpose), which drove the prices up fairly rapidly from $1,800/oz to over $2,000/oz. The people buying at the tail end of the climb knew it wasn’t likely to stay there short of a financial crisis either, so it was a bit of a “hot potato.”

Stock sentiment has stabilized, and bonds and high interest savings accounts are paying 5+% with zero risk, so the gold was sold and the money was moved back into an actual “investment” that is likely to grow.

Gold from a non-prepper mentality is designed to preserve wealth, which it typically does well. It doesn’t necessarily “grow” over the long term when compared to rising prices of goods and services.

I‘d 100% dump collectible coins right now, if things turn south people will flock to gold again but only care about spot price, and the people who are ok with the “collectible premium“ right now will be playing defense.
 
MuntCuffin said:
Ya think online sellers keep a record of purchases?

If so, would you want the government knowing what yer holding?

Shop local, buy local.
Click to expand...
I've pretty much given up on trying to hide anything. Predictive AI is too good, the only way to effectively avoid it is to abandon all my fake internet FriEnDs and make real friends
 
2big bronco said:
I think its more of a novelty to cater to "prepers" who think they may be trading 1/4 oz of silver for 2 chickens and a loaf of bread in the future.


In other news I bought a 1 kilo bar from jm bullion recently "in any condition" and it looks like it was genuinely burried for the last 100 years in some very acidic soil. It apears to be delaminating and extremely rough. Ill try to remember to grab some pics later.
Click to expand...


A
20231001_165743.jpg
20231001_165747.jpg
/attachments/20231001_165753-jpg.752739/?hash=650a3457e6b00a4a449c9497c72ad99a
20231001_165756.jpg
20231001_165759.jpg
 

Attachments

  • 20231001_165753.jpg
    20231001_165753.jpg
    900.8 KB · Views: 6
You must log in or register to reply here.
Top Back Refresh