Falling Silver prices

That is an interesting point. I can't say I've been watching, but I have noticed the few gun auctions I've looked at also come with coin collections. You can typically tell if it was an old guy that died because where there is a large collection of .22LR, there is usually a pile of coins with it. Seems to be a generational thing.

 

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Yeah I did ,just watching the show now

 

Links? Ha ha ha! Stinking guy wants links? Sean, we're talking backwoods Pennsylvania. Some of the auction houses use old school Rolodexes and handwritten envelopes to send out the notices. Many places have no Internet at all - no fiber, no TV cable, no DSL, sometimes no cellular signal at all. My last auction bill receipt was printed off a dot matrix printer.

But yes, some do list on auctionzip.com. Find those like I do. Use the search term "coin", put it a radius of 50 miles, and use these zip codes; 17601 for Lancaster, 17101 for Harrisburg, 19601 for Reading. I ABSOLUTELY GUARANTEE that the low end silver, well worn or not well known private, if there's a pile, and there frequently is, will go at or below melt. It does every time. You might have to drive here to get the lowest price stuff in the backwoods sales, but you'll eat hearty. They serve up food in crock pots.

 

That's a very small, almost insignificant minority of the market kurt. If you find one of those auctions you hold it as close to the vest as a royal flush

 

Oh I am quite aware of how special this is. But it is my "every day" reality, and also the chief reason why I am much more a seller than buyer at big time coin shows. I can turn really nice original material from these backwoods sales into slab riders week in and week out. The "books" the better pieces are in tend NOT to be in blue Whitman folders. They're too fancy and modern. No, this stuff comes in "boards" from the 30's and 40's.

That's why when Matt Dinger gets on his podcast with Nottelmann and says, "If a coin is raw, there's a reason it's raw", I have to pause the podcast and go change my pants, because I'm an old guy with neurological deficits and I just wet myself from laughing so hard.

There is not just one coin market; there are numerous ones, and some don't resemble the others at all. I go to major shows, look around the bourse and think, "these guys must be smoking something".

 

Ok, that's the best post I've read of yours kurt. There's hope for you yet lol

I too am usually the biggest shark at small non-Internet auctions. Just last Saturday I scored a coin lot for $850 plus 10% bp that will net me $2000+ with $1200 in just silver spot alone so in this way we're brothers. Just don't come to cali and I'll stay out if Penn lol

 

When I come to Cali, I'm scoring decent wines, not coins.

 

Ah yes, my gradfather had a Vinyard in Napa and grew for Robert Mondavi's costal label and as a kid it was fun running through the rows. I'm not much of a wine drinker as an adult though lol

 

Wait. There are guns other than .22LR? (and 12 ga. & 20 ga.) Seriously, the .30-06 deer rifle has already been handed down (and this is not a huge handgun area), so the .22's end up in the auction after the box lots but before the mason jars filled with Barber coins.

 

Yeah? Welcome to the life of a rural Pennsylvanian. Silver to wade through up to mid-calf, but try to buy a decent bottle of Cabernet. Not happening. I have quaffed my share of Mondavi Coastal. Thanks.

 

You're welcome lol

 

Only two hours to go. This is so exciting.

A small token Space Oddity parody in honor of: "and we have lift-off!!!!!!"

Or not.

For here I'm sitting in a mushroom,
High above the world,
Rates are a mess,
Traders want those welfare checks..

 

You don't think they could possibly find a way to NOT pull the trigger THIS time, do you? I'm not finding anyone who hasn't assumed a 25 basis points rise and already priced it into everything. And I was among those who was saying "no, not yet" up until this'n.

Only thing that scares me is metals didn't jump until the NYMEX opened this morning. London was completely unimpressed. Somebody on the NYMEX might be rope-a-doping again, just like the other Friday after the Labor Dept. report.

Could be like the old Redskins counter play - everyone takes one step left, and the run then goes right. Without the first step left, you don't trap the linebacker.

 

Just sit back and watch the show...

 

Frankly, I think a small, even minuscule rate increase is baked in. The key will be in the fed statement on how it will judge the criteria for future increases -- and if this increase is just the first one.

 

I don't believe there will be a show--at least not from this. Twenty-five bps is just a smaller welfare check for carry trade.

 

You're both right. I think the Fed would like to get more normal-ish interest rates going forward, but they're as nervous as a long-tailed cat in a room full of rockin' chairs. When a recovery is THIS anemic, and this poorly distributed up and down the economy, well, nobody has a perfect recipe book for this. Seems "capital" has found a way to shaft "labor" no matter what. Until we find a way to get this recovery working for the lower half of the economy as well as the upper 10%, we're in pretty uncharted waters, I'm afraid.

Best advice is - learn how to code "apps" for portable devices. Apple and Stanford U. are working together on a free distance learning MOOC for it.

 

Official - we have a rate increase.

 

They hiked the rate. The statement is dovish but the Fed has opened the door to further increases next year. They seem to have widened the range of factors that will determine that.

 

Is this a Janet High 5?