Silver Is On A Tear Today

Call it what it is… price gouging. The fuel here in the tanks didn’t change in five days. Most of our oil doesn’t even come from that region. It’s just an excuse to price gouge the public before anything has even been affected.

 

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Is it just me or does it seem like this is getting excessively political?

 

Meanwhile, silver still rose
Hello Force Majeure for deliveryhttps://www.reddit.com/r/ValueInves...happens_if_comex_cannot_deliver_silver_force/

 

This thread is about silvers price, not oil or gas prices. Thank you.

 

So sorry , we tend to get off track sometimes. Not sure about the rest of the people though.
On that note, How's things Metalheads?

 

I think we keep getting off track and going political. I don’t want this thread to be shut down for being political. A moderator warned us once and I see it happening again.

 

No, it's because with LIFO accounting, prices need to adjust ASAP. Otherwise, the business would be short on inventory and/or bleed cash.

If someone bought some gold 3 years ago, would you expect them to sell it today based on the $1,700 an ounce purchase price in 2023 ?

Oil is priced globally, with small regional differentials (i.e., WTI vs. Brent). Where you "get" the oil doesn't matter.

 

I bought a 2023P Morgan today, my first CAC. Paid more than I wanted. It is my first modern Morgan, not to mention it's my first CAC slab. I feel like I didn't get the best deal either. The doll of a Rus/UK girl that runs the shop packaged all the coins and you couldn't look at them, stapled the baggies shut too. I made her work. Told her I was a collector and wouldn't buy at her prices.
I looked thru probably 20 baggies of single coins. 32 Washies looking for Missing MM, quite a few 42 Mercs. some Frankies and some Canadien Dollars, and other world. I felt bad, I told her I was going to do it. Anyways I bought two silvers, more to satisfy my need to put away silver.

The coin is jacked in the insert. It was a terrible job, might even have caused the toning.



By the way, I am good with your talk about silver and it's value only. The Oil talk and Market talk all, do coincide with the why.

 

CAC stickers modern coins ?

Congrats on the coins, P&G !

 

Just CAC graded.

 

Dead on. The more electric vehicles the better. Also we should generate our electricity via hydro, nuclear power, solar. But, we do not want higher gold prices, hobby is $$$$$ enough

 

Got my 1st CACG holders at FUN 2026, modern Peace/Morgans.

 

would you be Happy with a 2026 eagle at $60.00 and not have to worry about loosing on it in 5 years or so? Man I tell ya I bought most all of the silver I just sold for 12 to 20 bucks And even though I still have that $50.00 coupon But buy anything above 25,00 is still a OMG what if silver goes to 25 moment. I guess I am such my glass is half empty guy that I feel like a toddler that just saw a ghost under their bed or in there closet .

 

It all depends on how you want to feel about it. I know how I felt when silver briefly hit $120 and was wondering if it was going to keep going. I've thought for quite a while that the $20-$30 level in comparison to anything else in life over same time period seemed completely unrealistic.
There are active efforts to try to keep the price suppressed to what it is. I now look at it as any ounce I can get under $100 is a gift. I had points on my Apmex card and bought a 2026 Kookabura for $68 shipped. I paid the new exorbitant price for a couple ASEs. They sold out immediately and already sell for more on the secondary market but not interested in selling. Often at the US Mint, collector ASEs have been 3x spot. If they continued with that tradition, they could be charging $255 for one collector ASE if they wanted to now. That would match past precedent and we may see that soon. 2021-2025 were gift years.

Selling to dealers, spot is all that matters but selling to the public, spot is meaningless. People pay way over for everything. I see it every day.

I've accepted the past is the past and current economic policy will only breed higher inflation as time goes on. This keeps playing out and all people do is complain about the new prices in comparison to what they used to be instead of taking advantage of the moment. Real investment in PMs hasn't even scratched the surface in this country. If mass amounts of people wasting money on crypto, pokemon cards, handbags, shoes or whatever other BS is out there, ever figure it out, a 1% increase in demand would clear the stores out of available physical immediately. Hopefully everybody stays diluted and distracted by nonsense so we can buy more.

EDIT TO ADD: I still have silver in my collection that was acquired at under $5/oz.

 

Just saw this and thought it was interesting.
1973 during the first oil embargo, when oil prices went from $3.00/barrel to $12.00/barrel. Silver was also around $3.00 and Gold $300.00 I think . I as a child heard the daily gold prices on mom and Dads radio news station.

 

OK last question. Who or witch is better PCGS or NGC ?

 

That all depends on what coin you are submitting for grading and what you want to have attributed on the coin. Such as an error.

 

I can't speak as to which is better as I'm not an expert, but the general consensus is that they are both about the same in their grading. On the other hand, PCGS slabs sell for a slight premium on eBay. This is similar to the sports card market, whereby BGS and CGC are considered reputable by many, in some cases even better or more consistent, but PSA slabs bring an extra premium that has grown over time. Actually, perceptions of how strict the grader is can boost that premium - whether it's real or not. With sports cards, PSA is generally regarded as the strictest. NGC supposedly has a solid reputation with world coins. I like ICG if I simply want a coin authenticated, like say a Spanish colonial 8 reales. ANACS also has a long history going back to the 1980s I think, and some here prefer it.