Discussion in 'Bullion Investing' started by yakpoo, Jun 21, 2019.
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21X is just about the current silver spot bid price ($28.32/oz) of an "uncirculated" half. Given that well worn examples can be as much as 25% light...19X seems like a pretty nice price...Well Done!
The lightest coin I've weighed yet was a slick Barber dime that had lost about 20%. Weight gets lost from the surface, so larger coins lose weight (by percentage) more slowly -- the larger the coin, the smaller its surface area relative to its volume (and weight).
I'm not sure I've ever weighed a silver half that had lost more than 15% of its weight, and that would have been (again) a slick Barber. I've seen some pretty flat Walkers, but not as flat as the Barbers, and I don't think I've ever seen a Franklin that would have lost as much as 5%.
But, mostly, I guess it's time to dig out the scale and get some examples. I'll see what I can do.
I read that someplace long ago. As I recall, it was an article about bullion vendors who sell junk silver by "face value" vs. "weight". I've always considered the 25% figure to be the extreme.
A 1 day drop losing half of total recent gains is not a correction but the market realizing the gain was nonsense.
LAPS your life sounds so exciting
Gold 1917.60 dropped from Friday. Silver 25.58 dropped from Friday. FYI Source KITKO @17:23 today.
This is why I say that Gold (and other PMs) are largely a reflection of underlying strength or weakness in the denominated currency. If the purchase was done in Yen, or Euros, or Yuan...the price movement in gold would simply reflect the strength,weakness of whatever currency was used to buy the shiny metal.
Sure, there are supply/demand fundamentals in play with Gold, but it pales in comparison with the supply/demand fundamentals in the denominated currency.
Back in July, it looks like I nailed the end-of-year GSR, but I overshot just a tad on the actual prices.
I was wondering what everyone thinks might happen to Gold and Silver in the coming year...given the recent spike in Crypto prices. Will money begin flowing out of PMs and into Crypto?
I don't think too many individuals/institutions would move $$$ out of PMs into BitCoin. Central Banks and some hedge funds, maybe.
I think a rising BitCoin price drags UP gold. Gold will lag bigtime, but if BitCoin goes to $100,000 I think gold is closer to $3,000.
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