Today, Saturday I just bought a couple grand worth of Silver

[Neb]

I check it every day. And silver is over $30. I think gold is way too high to buy right now. It's a good thing that we all bought our gold $2000 ago.
Even at $30 I might still buy some silver.

Yup

I am considering taking the gold profit and increasing our silver holdings.

Ben

 

[Mountain trapper]

Yup

I am considering taking the gold profit and increasing our silver holdings.

Ben

That's not a bad strategy. I used to watch the gold/silver ratio and base my buying decisions on that. It's still a good way to go.
Check out platinum too. It's under $1,000. Historically platinum has always been way higher than gold.

 

[Supervisor42]

I noticed.

It is in record territory.

Ben

I'd bet all of the gold-coin sellers are scrambling about now, changing the prices on all of their TV commercials and online ads!

What is the current value of a one ounce Gold American Eagle coin? The current ask purchase price for a one ounce American Gold Eagle is: $2,637.20 and the current Monex bid selling price for one ounce Gold Eagle coin is: $2,546.40.

 

[Supervisor42]

1 Oz American Gold Eagle

Buy Price: Best Price: $ 2,637.26. Gold Eagle Coins for Sale. A 1 oz American gold eagle coin is a gold bullion coin produced by the U.S. Mint. The Gold ...
$2,637.26 to $2,652.10 · 60-day returns · In stock

...Umm, make that $2,719.03

 

[old tex]

Like I've said before I'm gun shy about buying minerals because of a loss before. Having said that I believe that there's a case to be made for buying gold to "balance" possible stock drops. As for the economy going down there's probably a good case to be made for having silver. I'm not committed to believe either of those situations are close BUT my wife wanted to buy silver. So we bought more of it about a week ago & I assume that we will buy some every month in the future. Good or bad thing to do, only time will tell.

 

[Mountain trapper]

I think now is still a good time to buy silver. I recently inherited my father's silver, old coins and currency stash. There's a pile of Mexican silver pesos in there that I have no interest in, so I'll sell that. The Morgan and Liberty silver dollars I'll add to my stash. There's probably at least a couple hundred dollars face value of silver quarters and dimes. I'd like to buy another couple hundred face value of silver coins and add to the stash.

 

[Mountain trapper]

Going to stop at a coin shop today and sell a bag of Mexican silver pesos. They're all dated in the 1920's and contain a little less than a half ounce of silver.

 

[Mountain trapper]

Gold is up to $2660 today, that's an increase of $837 in just 12 months. Silver is around $31 per ounce. To me silver is still worth buying. Last week I sold some Mexican silver pesos. I'm only interested in holding US silver.

 

[Neb]

Gold is up to $2660 today, that's an increase of $837 in just 12 months. Silver is around $31 per ounce. To me silver is still worth buying. Last week I sold some Mexican silver pesos. I'm only interested in holding US silver.

We committed to play it safe through the election. We can always buy back after we get a better idea where the world is going.

Ben

 

[Mountain trapper]

We committed to play it safe through the election. We can always buy back after we get a better idea where the world is going.

Ben

I think that's a fair strategy, and that's what we're doing. If Trummp is elected, and gets the ME back under control, then I expect to see gold and silver prices drop. If Camela gets elected, then I see the wars in the ME escalate, plus it'll drag the US in further, the price of gold and silver could skyrocket. Right now the gold/silver ratio is 83.71
Take a look at platinum. It's trading right around $1000. I think there could be a huge potential for it going up. Platinum is used in the production of hydrogen, which I think will replace the failed battery powered vehicles.
Just my opinion, which is worth less than nothing.

 

[Neb]

I think that's a fair strategy, and that's what we're doing. If Trummp is elected, and gets the ME back under control, then I expect to see gold and silver prices drop. If Camela gets elected, then I see the wars in the ME escalate, plus it'll drag the US in further, the price of gold and silver could skyrocket. Right now the gold/silver ratio is 83.71

Exactly. Funny you speak to gold and silver. I didn't say as much but gold and silver are what will hold on to for now (a few exceptions but not worth mentioning).

Ben

 

[Dave2001]

We committed to play it safe through the election. We can always buy back after we get a better idea where the world is going.

Ben

Gold way to high to buy right now!

 

[Mountain trapper]

Gold way to high to buy right now!

Maybe. But if Camela and her pet idiot get elected, gold will surely go up. I have all the gold I need right now, but I am looking at buying some 1/10th and 1/4 ounce coins, jic.

 

[Dave2001]

IF those 2FOOLS get elected by some outrageous activity we arent going to have a country anyway!

 

[Mountain trapper]

IF those 2FOOLS get elected by some outrageous activity we arent going to have a country anyway!

Even if that was true, gold and silver will still have value. Probably much more valuable than today.

 

[Skinwalker]

pay no attention to reddit tier 9001 iq naysayers. People have tested purity on things like silver forever for cheap. You don't need the fanboy brand $100 over spot junk. Nor do you need some $300 testing machine. Touchstone cost like $10. Anybody planning to trade silver should aquire or already have the means. People who don't would probably just as soon gun you down for your coinage than make an honest trade in shtf.
Just my 2c.

https://www.ebay.com/itm/144966104031

 

[Neb]

pay no attention to reddit tier 9001 iq naysayers. People have tested purity on things like silver forever for cheap. You don't need the fanboy brand $100 over spot junk. Nor do you need some $300 testing machine. Touchstone cost like $10. Anybody planning to trade silver should aquire or already have the means. People who don't would probably just as soon gun you down for your coinage than make an honest trade in shtf.
Just my 2c.

https://www.ebay.com/itm/144966104031

I can assay gold and silver. Basic set up but it should work. It was like $60 on Amazon.

Ben

 

[Supervisor42]

Gold got above the $2,600 ceiling today, or did anybody notice?

One month later, after being stuck for weeks in the $2,600's doldrums, it seems to be getting comfortable in the $2,700 range :
(annoying graph)

 

[Neb]

One month later, after being stuck for weeks in the $2,600's doldrums, it seems to be getting comfortable in the $2,700 range :
(annoying graph)
View attachment 165119

Only 11% short of $3K an oz.

And silver is up more than 3% on the day... so far.

Ben

 

[Neb]

Only 11% short of $3K an oz.

And silver is up more than 3% on the day... so far.

Ben

Silver was up 6% on the day.

Ben

 

[Mountain trapper]

The stock market is at record highs today too. It's a good thing that we all bought a lot of gold, silver and stocks when the prices were low.
Just my 2 cent prediction; if Trump wins the election, I expect to see the stock market go way up, and gold/silver to drop considerably. If the dems manage to steal the election, I'd say that PM's will go way up, because the dems will start WW3, and all stocks will drop, except for defense company stocks.

 

[Neb]

The stock market is at record highs today too. It's a good thing that we all bought a lot of gold, silver and stocks when the prices were low.
Just my 2 cent prediction; if Trump wins the election, I expect to see the stock market go way up, and gold/silver to drop considerably. If the dems manage to steal the election, I'd say that PM's will go way up, because the dems will start WW3, and all stocks will drop, except for defense company stocks.

Some yes some no.

The strength of the dollar and/or inflation affect the price of gold.

Ben

 

[Mountain trapper]

Some yes some no.

The strength of the dollar and/or inflation affect the price of gold.

Ben

So do wars.

 

[angie_nrs]

I'm not a buyer right now, but my overall PM purchases since 2013 are up slightly over 46%.

Even though that seems impressive, I just bought butter on sale yesterday at $3.50 per pound when I bought butter a year (or so) ago at $1.99 on sale. I saw a sale last week for butter at $2.99 per pound but wasn't able to get to the store. So, if you figure that butter went from $1.99 to $2.99, that's a 50% increase. That just goes to show that my PM's are not really going up in value, but the dollar is getting weaker.

 

[Mountain trapper]

I'm not a buyer right now, but my overall PM purchases since 2013 are up slightly over 46%.

Even though that seems impressive, I just bought butter on sale yesterday at $3.50 per pound when I bought butter a year (or so) ago at $1.99 on sale. I saw a sale last week for butter at $2.99 per pound but wasn't able to get to the store. So, if you figure that butter went from $1.99 to $2.99, that's a 50% increase. That just goes to show that my PM's are not really going up in value, but the dollar is getting weaker.

One of the reasons people buy and hold PM's, is for when or if the economy truly crashes. The gold that I sold a couple weeks ago was up over $2200 from what I paid for it. That sounds like a lot, but most of my stock investments have increased by 18% to 32% every year. Of course during the dark days of obumer I had a couple negative years.
I don't buy PM's for an investment, but more for "just in case". I'm generally more optimistic than most, as I see better times coming.

 

[zoomzoom]

I'm not a buyer right now, but my overall PM purchases since 2013 are up slightly over 46%.

Wished you bought it all in 2013?
Silver is up almost 100% in 10 years.
Gold is up over 120% in 10 years.

Not as good as my stock investments over the same period but still pretty good.

 

[Supervisor42]

One of the reasons people buy and hold PM's, is for when or if the economy truly crashes. The gold that I sold a couple weeks ago was up over $2200 from what I paid for it. That sounds like a lot, but most of my stock investments have increased by 18% to 32% every year. Of course during the dark days of obumer I had a couple negative years.
I don't buy PM's for an investment, but more for "just in case". I'm generally more optimistic than most, as I see better times coming.

I plead guilty for being a buzzard in the Obumer years.
I knew I wouldn't need the money for 10 years, so I more than doubled the withholding into my 401K.
The 25%-off sign was flashing and I was buying, buying, buying!
When the worm finally turned, my money doubled.

 

[Mountain trapper]

I plead guilty for being a buzzard in the Obumer years.
I knew I wouldn't need the money for 10 years, so I more than doubled the withholding into my 401K.
The 25%-off sign was flashing and I was buying, buying, buying!
When the worm finally turned, my money doubled.

Even though my investments were in negative territory during obuma days, I increased my stock purchases. To me a down market means that stocks are on sale. When many people were panicking and selling their stocks I was buying more, even to the point of going in to big debt to buy more.

 

[Neb]

...I was buying more, even to the point of going in to big debt to buy more.

I could never do that.

All of our savings are intended to ensure The Princess will not have to get a paying job after she retires AND our heirs are provided for after our passing.

Debt is bad mojo in my book. Once I was debt free I never wanted to go there again. There was one exemption when our financial advisor advised we get a mortgage for one our LLCs because the interest rates were so low. We could live with that and paid off the mortgage even though we could have made more investing in stocks.

Ben

 

[zoomzoom]

even to the point of going in to big debt to buy more.

I'm with @Neb
Damn, that's a big risk.