Discussion in 'Bullion Investing' started by goldcollector, Apr 17, 2017.
GSR Down to 88.75
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you buy choice pieces when you can get them cheap....essentially making the most of a buying opportunity.
I've got a 1 ounce bar listed for $120 (all others are pushing $200+) I got an offer for $80 and countered at $95, really didn't want to dip below $100 BUT like I said, I bought it right.....so the interested party countered back at $88.
I declined to sell.
Could have bought a couple grams of gold but they wouldn't have the cool factor on this silver bar.
Current GSR 90.04
Thread Started at 68.93
The GSR is now almost 91
Don't worry Jeff I will be sure to post if silver manages a little run back to 90 or 89 or even 80.
But don't worry 68.93 will never ever ever be seen again.
They might get that 100 to 1 real soon the way its going. Lol. Just kidding. There has to be a small correction eventually one would think. Surely silver can't just get murdered in perpetuity. My question is why would they want to trade even at 100 to 1 ? The number was historically 16. It was 30 ish just 7-8 years ago. We have a clear winner here. There will be corrections, ups and downs but over any extended period of time Gold has always been the winner. That won't change. Even today with the GSR near 91 every LCS in my town has all the silver for sale you could imagine. Tubs of it they can't sell. Even when Jed or Bubba or Cletus do come in they only have $50 or so so what 3 or 4 ounces barely makes a dent in the inventory. And what they do sell comes back in 10 fold at the end of the month when all the silver "investors" are desperate to make it until next months EBT day. If you want to buy gold you better go online, if anyone did bring one into the LCS it sold same day. Silver is and always has been a joke played on the desperate masses, much like the powerball scam. Never trade Gold for silver I don't care what the GSR. Just like never trade your paycheck for a bunch of powerball games no matter how high the jackpot. Same reason -- you won't win.
Gold goes up just about every day. It has blown away the $1300 level which I didn't even expect. Meanwhile silver can't even hold $15.
GSR almost 91
Gold spot was $1268.45 its now ~ $1350.00. That's an $82 gain or about 6.5% over 2 years an average 3.25% annual gain. About equal to inflation.
The same day silver spot was $18.40. Its now ~$14.85. A loss of $3.55 or about 20%. Over 2 years an average loss of 10%.
This is not simply a "correction" I started this thread when Gold had already been on a 4 year Bull versus silver. GSR Doubled from 2013 to 2017.
Silver is the PM equivalent of powerball tickets. You aren't gonna get rich quick. You're just gonna keep losing. There are literally BILLIONS of ounces of silver at $14.85 + .75 premium that they can't sell. Lol with all these 10 ounces at spot "deals". Lol. Please tell me who has Gold at spot ???? And 10 ounces to boot ??? Hell Id love a single Gold Krug at spot. Just 1 ounce. Come on APMEX. Oh that's right -- No One sells Gold at spot. Even with Gold 91 times more valuable than Silver they unload Silver at spot but no way they would let go of Gold at spot.
Get rich quick (silver) pretty much impossible.
Get rich slow (Gold) not that hard.
Except for the people who do?
Graded Gold at Melt $20 Libs and $50 Buffalos
A number of dealers at last week's local show had gold for sale at or near spot. I was considering selling a couple of common-date, 63-ish Saints, and all the offers to buy were below spot.
As for silver, which as you say has been lagging: the closing price the Friday before the show put melt for 90% around 10.7x FV. There were plenty of dealers offering to buy at 10x for any quantity, and at least one guy was offering 10.5 for rolls of 1964 Kennedys (since they're usually full-weight). I saw one guy who was selling 90% at less than 11x, and he was nearly sold out.
Bottom line: most of the dealers, who are interested in making money, were acting as though they expected more upside from silver than from gold. Me, I bought nothing and sold nothing.
But you do you.
Yet the first thing I saw when I clicked on the link was
ALL SOLD OUT - NOTHING LEFT
So still no one selling at spot and if they do is sells out instantly. Not true with silver.
I'm not surprised they were buying Gold a little under spot. Its gone up nearly $100 over the last 2 weeks. We could well see half those gains given back this week. Who knows. But even with the nice run up its not hard at all to sell Gold at full spot and realize the $100 gain. My closest LCS is still buying at $5 over on AGE down to $10 under on Gold Krugs. Most everything else right at spot.
@goldcollector PM me if you want to buy gold at melt. @-jeffB is correct that gold sells at melt.
Be sure the check clears before you send the gold.
For sure! I have not received a PM yet.
Do you still hold to buying Silver as a bad investment hoping to make money on the GSR ? I take internet videos with a grain of Salt, after all, who can you trust today, right ? The Recent GSR video from Mike Maloney makes a lot of sense, worth listening too. Not that anything is ever fool proof. And mike has been talking about it since 2012. At some point everything breaks. CBs are buying, coin shops are a little busier... And as we know, just because a few Neocons say the economy is good, does not make it so... Lots of money behind the propaganda via the right.
I myself wonder about the Premium on Eagles and what will I receive for them if and when they Double... The change per year price is quite a bit based on mfgered... total for year.
I would have been all over those coins at melt.. .sweet...
@goldcollector if you want to send that silver that I paid you $115 for, 2 years ago, but you never sent, you still have the address in our PM.
It's odd to think of him hanging on to silver, of all things, isn't it? I suppose he just wouldn't feel right saddling you with such a worthless metal. Perhaps his conscience got the better of him sometime after your funds arrived.
How is it that he could still have an I.D. here ? Be able to Login to the site and offer others to buy and sale ? I thought this site had BETTER of a reputation than to allow Spammers to hang around.
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