Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. abuckmaster147

    abuckmaster147 Well-Known Member

    Heck no. No Ins or nothing well I cant say that I do have farm liability. Trying Sugar beet here for first time ever this year. Gonna see about Hops , and Hemp from the Gub also. They say they will help in NY but I think its more than this little Farm has to offer.
     
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  3. Cheech9712

    Cheech9712 Every thing is a guess

    Don't get on my ship list
     
  4. Clawcoins

    Clawcoins Damaging Coins Daily

    just yesterday silver went up, then down. Wonder what's it's gonna do today ?

    anyone buy anything lately ? I've just been sitting on my cash trying to pay down my house.
    upload_2018-6-5_8-13-44.png

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    @abuckmaster147 @LA_Geezer
     
  5. V. Kurt Bellman

    V. Kurt Bellman Yes, I'm blunt! Get over your "feeeeelings".

    Ohhhh, I dunno, gyrate up, gyrate down, and close somewhere near $16.40, like most days?
     
  6. abuckmaster147

    abuckmaster147 Well-Known Member

    I won a $25.00 virtual gift card that can only be used online. Thought about a RCM with it at prov yesterday but said na.
     
  7. Garlicus

    Garlicus Debt is dumb, cash is king.

    Paying down the mortgage is a better idea. Then you have more money for coins when it's paid off. ;)
     
    Last edited: Jun 5, 2018
    Santinidollar and Nathan401 like this.
  8. Santinidollar

    Santinidollar Supporter! Supporter

    Hey, since we occasionally touch on gold here, I thought I’d inquire here versus starting a new thread since this is a one question deal.

    Just got an email from a major dealer who is offering 1 Oz. American Gold Eagles at $100 over spot.

    Why would anyone in their right mind pay that much over spot?
     
  9. Santinidollar

    Santinidollar Supporter! Supporter

    Paying off my house was singularly the best personal economic move I ever made. The freed cash flow enabled me to make some nice investments that eclipsed any tax deduction for mortgage interest.
     
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  10. Garlicus

    Garlicus Debt is dumb, cash is king.

    I could have paid mine off, but that money is earning 12% guaranteed, so I just pay an extra $300/mo. towards the mortgage. I have a decent chunk sitting in the bank, but I like to keep that on hand, as well, in case an investment opportunity comes up. I am using a small amount of it to send my nephew to summer camp for 8 weeks at Camp Ramsbottom (yeah, I heard Beavis & Butthead in my head too when I heard the name, lol). He's excited to shoot a bow and arrow. @Nathan401 has probably heard of it, if not been there. Can't think of a better way to invest that money, than in my nephew.
     
    Last edited: Jun 5, 2018
  11. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    12%!!! Where?

    New fed tax laws essentially eliminates my mortgage interest deduction here in CA, therefore paying off the mortgage is much more attractive.
     
  12. Garlicus

    Garlicus Debt is dumb, cash is king.

    Same thing here in the Northeast. As for the 12%, let's just say that I'm creative ;)
     
  13. Clawcoins

    Clawcoins Damaging Coins Daily

    yeah, where do you get 12% guaranteed ?
     
  14. Santinidollar

    Santinidollar Supporter! Supporter

    12 percent? Good going. If you want to share your secret, IM me. As long as it’s legal. (JUST KIDDING!) LOL
     
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  15. Clawcoins

    Clawcoins Damaging Coins Daily

    depends where you buy it currently.

    Many of us has over and over looked for better and lower buying opportunities for metals. Of course, we educate ourselves more on it over time and reduce our purchasing price closer to spot.

    This is one reason I haven't acquired all the Proof American Platinum Eagles that I want for the various designs. I just can't get myself to pay the high premium even though it seems to be the lowest out there through Apmex or Provident.

    It also can be a driving factor of how you identify it as a numismatic purchase, and how it's sold as one too.

    I've been waiting to buy a 2009 high relief for a while, watching the price premium slowly lower over time. Sooner or later I'll snatch one up when the price is closer to spot.
     
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  16. losthomer

    losthomer Active Member

    You must have a very expensive mortgage. Most property tax is still deductible , up to a certain threshold which currently escapes me.
     
  17. Garlicus

    Garlicus Debt is dumb, cash is king.

    From a January Forbes article - "If you buy a home between now and 2026, you can deduct the interest on up to $750,000 in mortgage debt used to purchase or improve it as an itemized deduction. This cap affects home purchases made after December 14, 2017. Anyone who took out a mortgage on December 14 or earlier will be able to deduct interest on up to $1 million in debt, the old cap, for that home, even if they refinance to get a lower rate."

    The problem is for people that pay high state and local taxes, as only $10,000 of that is deductible.

    In keeping with the topic of this thread, silver closed at $16.515 today.
     
    Last edited: Jun 5, 2018
  18. Clawcoins

    Clawcoins Damaging Coins Daily

    Unless you have an mortgage equity loan on the house of which it is *not* a home improvement and other strict limitations now. So if you took a mortgage equity and used the money for a new boat you lose that deduction now.
     
  19. Garlicus

    Garlicus Debt is dumb, cash is king.

    As it should be. I looked into a lot of foreclosures that happened around here, and most, if not all, had cash-out refi's or HELOCs that were ridiculous. People used their homes as ATMs and bit off way more than they could chew, then cried when the bank wanted their money, which they were legally obligated to pay. I even saw one property that had NO mortgage (passed down in the family), but the owners took out a HELOC for as much as they could, then lost the house. No personal responsibility.
     
  20. CoinCorgi

    CoinCorgi Tell your dog I said hi!

    I have no idea what you are trying to say - sorry. Feds capped how much CA state tax I can deduct at $10K (I pay a lot more than $10K in CA income tax). Feds raised the standard deduction for me to the point that it now exceeds my Schedule A itemized deductions (directly because of the $10K cap on State Income Tax).

    Therefore I won't itemize and thus I don't get the opportunity to deduct my mortgage interest (no matter how much it is). Whether my mortgage is expensive or not has no bearing on this calculation. In fact, the mortgage is aging to the point that I am not paying that much interest anyway.

    Don't understand what your point was.
     
  21. losthomer

    losthomer Active Member

    Garlicus explained the mortgage interest deduction rules miceley. How that effects you and the new standard deduction is a different issue.
     
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