$3,000 Gold Price Forecast from Merrill Lynch/BOA

Discussion in 'Bullion Investing' started by GoldFinger1969, Apr 21, 2020.

  1. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Here's what I'm used to paying. 19 cents per ounce premium. Granted, I did pay as high as $1.59/oz as well.

    Screenshot_20240204_094724_Gmail.jpg
     
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  3. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Here's another one.

    - 10 ozs at spot, zero premium (JMB promotion)
    - 10 ozs at $1.59/oz premium
    - 20 ozs at $.79 premium
    - 1 oz Navy Button was a novelty gift for Navy serviceman $16.99 premium (not my purchase)

    Screenshot_20240204_095838_Gmail.jpg
     
  4. Clawcoins

    Clawcoins Damaging Coins Daily

    I only buy US Mint made bullion. I may have a few Canadian Mint stuff, Austria, Australian but not much. So generic rounds I don't buy.

    Yup, nothing like the "good 'ole days" such as:
    4/2017 spot $18.32 / purchase $20.51 / premium $2.19

    11/2018 spot $14.39 / $16.63 / $2.24

    10/2022 spot $20.38 / $38.07 / $19.69 <-- I wrote these down for reference but I didn't buy when premiums jumped

    2/2024 spot $22.88 / $29.33 / $6.44 <-- first purchase since those spikes because it seems tolerable and I'm in it for the long haul

    Is $6.44 high. I think so too because I've been buying ASEs since 1986. I remember buying a tube for under $120.
    But it's far below the nearly 100% from a few years ago.

    Does this stop people from buying any collectable coins because they cost more now than in the past ?

    Will there be a spike in silver price in the future ?
    or a crash?

    Who knows right?

    But I look back at all the specific precious metals I've bought (skipping the super high premiums) and I'd profit on every purchase right now except for the one I made yesterday. But, hopefully, give that time and it will be profitable from the purchase price.

    Isn't that what bullion hoarders do anyways ? Buy for the future.
     
    Last edited: Feb 4, 2024
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  5. Clawcoins

    Clawcoins Damaging Coins Daily

    who is it ... @mpcusa who does a lot of bullion collecting. I don't think he's stopped much at all.
     
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    The price of silver aside, when you pay a certain premium for years and/or decades...and then it doubles or triples or more....you notice it. :yack::mad:
     
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  7. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Gold knocking on all-time highs....a new closing high today. :cigar:

    The economy remains strong, inflation doesn't want to head towards 2%, and Fed rate cuts are coming off the table.
     
  8. -jeffB

    -jeffB Greshams LEO Supporter

    WOW. Back over 100x FV for US circulating gold coinage...
     
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  9. imrich

    imrich Supporter! Supporter

    Raw bullion Silver coins purchased at ~same premium as a premier TPG certified encapsulated PERFECT GRADE (NGC MS70} slabbed Gold Eagle coin.

    Hmmm, I'll need to think about this for some time, as although Gold coin "deals" aren't easily found, they're were out there before last friday!

    Here's my best buy for Friday: https://www.ebay.com/itm/176264661942

    I've done this collecting hobby for more than 70 years, and I'm elated about the current internet offerings/competition!

    Some certified Gold coins, if located/purchased, are a great investment, for numerous reasons!

    JMHO
     
    Last edited: Mar 3, 2024 at 4:48 AM
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  10. Clawcoins

    Clawcoins Damaging Coins Daily

    Yup, that halted my collecting for a few years.
    I would love to see demographics of new and used silver ASE/AGE sales but I'm sure those stats do not exist.
     
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  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I would think that is something that the Salesforce software and AI programs would be able to spit out, huh ?:D
     
    imrich likes this.
  12. imrich

    imrich Supporter! Supporter

    I've determined that buying an available NGC certified highest grade Proof Gold coin at a lesser premium than raw Silver coinage of similar value is most preferable, as an investment!

    The Best Internet Buy today exceeds that of yesterday!

    Here is the current purchase, mandated tax paid within payment: https://order.ebay.com/ord/show?orderId=01-11269-99515#/

    JMHO
     
    Last edited: Mar 3, 2024 at 3:54 PM
  13. Clawcoins

    Clawcoins Damaging Coins Daily

    I don't see anything from your link.

    I have looked at graded from time to time as it's shown up on searches, etc. But haven't seen it less than raw. I'll pay closer attention as lower premium is preferred.

    I get phone calls from those bullion sellers from time to time. The last one was a couple months ago. Selling 69s for $1800 each for $25 AGE coin. I always tell them I don't buy grade bullion coins. Plus what percentage of the minted coins are in the 69 range ... I would think fairly high.
     
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  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Jefferies initiated coverage on the gold mining stocks, but I can't upload it here for size reasons. PM me your email if you want to see it.

    This business model is really not that great -- CAPX is just too damn high, input costs can skyrocket -- even if gold goes steadily higher.:yack:

    Supply pressures = higher gold prices.

    Annual Gold Production, 2010-23.jpg
     
    Last edited: Mar 3, 2024 at 7:46 PM
  15. imrich

    imrich Supporter! Supporter

    I purchased this 1998 PCGS MS69 certified 1/4 oz. (half the size of the $25 coin), for $600 (~$525 spot) within the last 4 hours, plus additional sales tax/shipping (~$55).

    My premium was ~14% over spot before tax and ship.!

    My cost was ~Two-thirds of your dealer quoted price.


    [​IMG]
     
    Last edited: Mar 3, 2024 at 9:37 PM
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