The War on Gold, Coming to a Corner Store Near You??

Discussion in 'Bullion Investing' started by fretboard, May 19, 2020.

  1. fretboard

    fretboard Defender of Old Coinage!

    As I research gold coins, I run into a lot of information, sometimes too much! :D I think this guy is just another braggart trying to sell something but that's okay! Braggarts share great information as well! I never thought of a War on Gold, certainly sounds interesting! :D Any of you ever hear of him? Swap lines? Anyone?

     
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  3. David Betts

    David Betts Well-Known Member

    Beware where you buy your gold! I'm all in but very close circles!
     
    fretboard likes this.
  4. QuintupleSovereign

    QuintupleSovereign Well-Known Member

    1933, anyone? "Everyone, turn in your gold and gold certificates to the nearest Federal Reserve bank; here's some soon-to-be-inflated Federal Reserve Notes instead."
     
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  5. GoldFinger1969

    GoldFinger1969 Well-Known Member

    There is no relationship between swap lines and gold mines, gold coins, or gold bullion.

    The guy is weaving conspiracy themes to talk up his long and short positions.

    Swap lines are related to money markets, liquidity, and the $14 trillion in dollar-denominated debt, not gold markets.
     
    Santinidollar likes this.
  6. fretboard

    fretboard Defender of Old Coinage!

    Okay, I was wondering where he was going with his video and then, nothing! I don't even know what he's selling as I didn't get that far! :D
     
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  7. Rono

    Rono Senior Member

    Howdy folks,

    While he may have written it, it's a little to 'tin hattish' for my tastes. Folks, need to recall two things. 1. In 1933, NO GOLD WAS SEIZED. 2. Numismatic gold was always exempt.

    Feh, hoard your gold in a collection type format. Collect gold crowns from around the world. Collect year sets of Leafs, Pandas, Phillies, AGEs, etc.

    And relax, I really don't see this happening.

    peace,

    rono
     
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  8. FryDaddyJr

    FryDaddyJr Junior Member


    an ounce is an ounce. why would you suggest a "format"?
     
  9. medoraman

    medoraman Supporter! Supporter

    That is what I like. This is why I buy low premium gold coins, much more interesting than bars. Even if gold never increases, I get the pleasure of owning coins. :)
     
    GoldFinger1969 likes this.
  10. fretboard

    fretboard Defender of Old Coinage!

    Oh, but it will definitely increase, I think! :phantom: If it don't I'm prepared to love my gold, even at lower prices! :D Years ago, I would only buy 1/10's, the price was definitely good as I won good on the bay and I would bid on gold coins that weren't US as US gold sells for top dollar! That said, I ended up paying too much a couple of times, but after I sent in for grading, I didn't do too bad! And the times I paid too much, was on US gold!! :( Since after 2011/12, I've learned quite a bit, so I'm ready for the big score!!!! :D
     
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Gold WAS seized in a few cases, notably Israel Switt (of the 1933 Double Eagle fame) had 78 Liberty Double Eagles taken when he apparently let his gold license lapse. He was out $1,560.

    Other gold cases went to various courts and individuals had gold taken away or forfeit. I believe one individual lost $5,000 when a NYC bank turned his gold in without his permission.

    See what happened to I. Switt, above. Generally true, but unless you dealt full-time in numsimatics, this could be a high bar to clear.

    Good Advice, I agree. But.....:D
     
  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Generally, the premiums on sub-ounce coins drives the price up alot. But I guess if you are sharp you can find bargains on Ebay and other sites.
     
  13. fretboard

    fretboard Defender of Old Coinage!

    As far as Ebay goes, I haven't bought any 1/10ths for quite awhile, too much money. There's certainly no great deals on there now, but the bigger you buy the better you do. :D Honestly, I couldn't afford to buy bigger pieces until just recently! :cigar:
     
    GoldFinger1969 likes this.
  14. Rono

    Rono Senior Member

    Howdy,

    I'm not sure about your question, but by putting together a stack of physical gold and silver, why not make it a coin collection. Back in 1933, even when they outlawed gold, they exempted numismatics [read: collection]. In this way, an ounce is Not just an ounce. It's a collectible coin.

    Please realize that I don't believe, for a minute, that they are going to ban private ownership of gold. Not at all. However, it might give some folks some ease in their stacking.

    peace,

    rono
     
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  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    There may have been conditions to qualify as a numismatic and not just a piece of bullion. That was an issue in the Export License of the 1933 Saint-Gaudens Double Eagle to King Farouk.
     
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