Gold and Silver on the Cusp of a Major Move Higher!

Discussion in 'Bullion Investing' started by fretboard, May 17, 2021.

  1. losthomer

    losthomer Active Member

    Millions of men and women have gone for their dirt siesta preparing for the dollar and our society to collapse. Someday they will be right. All societies fail eventually. It just might take hundreds or thousands of years.
     
    crazyd, -jeffB, FryDaddyJr and 3 others like this.
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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    My crystal ball is broken so couldn't say one way or another
     
    JCKTJK likes this.
  4. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

  5. JCKTJK

    JCKTJK Well-Known Member

    I was outside all day, what did she say today?? anything about interest rates and inflation??
     
  6. 1865King

    1865King Well-Known Member

    Right now is not the time to buy gold or silver. The price is really out of wrack. Silver was around $12.50 in March of 2020 and you couldn't find any to buy. Now it's at $28.00+. Silver eagles are going for about $44.00 each today. Even with silver at $28.50 it doesn't convert to $44.00 for a silver eagle. I talked to a dealer friend today and asked him what he could buy them at. He told me he bought some 2020's for $27.00 each and was selling them at $31.00 each. That's more of a realistic price based on spot. Gold is the same thing $1,850.00 0unce and selling at between $2,450.00 and $2,850.00. Why? Now is not the time to buy.
     
    FryDaddyJr likes this.
  7. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    When is the right time ? the pandemic has changed things forever, just because both
    Silver and gold were on the cheap doesn't mean there going to go back to
    pre pandemic leveles not by a long shot !
     
    Scott J likes this.
  8. 1865King

    1865King Well-Known Member

    When the big sellers are selling gold and silver common bullion coins for a ridiculously high price over spot you will be screwed in the long run. If your concerned that the economy will collapse and it most likely will at some time in the future. However, it's hard to predict what effect it will have on the general population. If you want some gold and silver as back up money if everything goes to hell I'm with you. However, I wouldn't want $100,000.00 in gold and silver as mad money but, $10,000.00 is a realistic number. But it's not a deal at the prices today. Probably you could get a reasonable deal on junk silver. Keep in mind that if the economy goes to hell your cash will still be good in the short term. So having $5,000.00 to $10,000.00 in cash available would be smart but, unfortunately it won't do you any good if it's in your bank account. When shit hits the fan the banks could be closed. This has happened before. Put your back up cash in a safe place and that's not the bank if you need it quick. Use your cash as long as you can then switch to gold and silver coins as a means of barter. What I am describing is the worst case scenario. Like after WW 1 in Germany and in the US after 1929. Things went really bad. Talk to people that lived through it. They would be in their nineties but, there are enough of them left that could give you an idea of what it was like. If you think it can't happen today you are very wrong.
     
    Scott J and FryDaddyJr like this.
  9. FryDaddyJr

    FryDaddyJr Junior Member


    things haven't changed that much and they are slowly returning to normal. quit parroting the shrill rhetoric
     
    atcarroll and chascat like this.
  10. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    What’s normal anymore ? the pandemic has
    changed everything forever, so maybe returning to a new normal but the old one
    that we got accustomed to is long gone !
     
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Silver wasn't $12.50 before Covid-19. You can't use the price as a fair value. Try closer to $18.

    I agree that the premiums are out of whack, unless there is a temporary disturbance affecting production or supply....either the premiums need to go down OR the price of silver needs to rise.

    Gold bullion can be had for $1,900 - $2,100 if you buy pre-1933 gold.
     
    slackaction1 likes this.
  12. Santinidollar

    Santinidollar Supporter! Supporter

    That was yesterday when she was touting big tax increases. She apparently was quiet today.
     
    JCKTJK likes this.
  13. Collecting Nut

    Collecting Nut Borderline Hoarder

    I’ll stick with my gold, silver, coins, copper and lead. It’s always worked well for me.
     
    JCKTJK likes this.
  14. 1865King

    1865King Well-Known Member

    Actually silver did drop to around $12.50 an ounce around March 2020. It didn't stay there long and you couldn't buy any because no one will sell it at a loss. It quickly recovered to the $18.00 range.
     
    JCKTJK and GoldFinger1969 like this.
  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Right, which is why I say that wasn't a real price. It was like the negative print on oil....a result of the pandemic.
     
    1865King likes this.
  16. JCKTJK

    JCKTJK Well-Known Member

    Don't forget to add some Beans and Band-aids, Just in case ;)
     
    Collecting Nut likes this.
  17. Collecting Nut

    Collecting Nut Borderline Hoarder

    No room for them. :smuggrin:
     
    JCKTJK likes this.
  18. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Now moving higher, I like Silver but Platinum
    Is the major player right now just picked up
    some APE,S
     
    FryDaddyJr likes this.
  19. fretboard

    fretboard Defender of Old Coinage!

    Yeah, I picked up a half last month but that's it for me for awhile as the prices are way too steep for me. :D This silver hype is beyond me!

    286179252a.jpg 286179252b.jpg 286179252c.jpg 286179252d.jpg
     
    slackaction1 and Joel Turner like this.
  20. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Platinum is in the perfect spot, and I look for
    it to overtake gold eventually, I think Silver
    is still a good value, however I think allot of
    people are waiting for that to drop, if that
    ever comes, it for sure be a wait and see
    proposition.
     
    fretboard likes this.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Central Banks and countries are now declaring war on BitCoin and crypto currencies....I know Bill Miller, a great value investor, was bullish in BARRON'S a few weeks ago but the old saying is "Don't Fight The Fed" and ditto for countries.

    https://www.cbsnews.com/news/bitcoin-crash-wall-street/

    Gold should now have a headwind behind it and the Digital Guys have gale-force hurricanes in their face. :D
     
    fretboard and slackaction1 like this.
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