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

[Tacitus]

BTW, Tacitus.....I never heard of that Fisch before. Interesting, but it's a pricy little gadget for what it is. Where did you get yours?

I ordered it straight from the company: Link to the Fisch site.

It is expensive, and it took me awhile to decide to spend the cash. I tried to save some money by only buying the testers for AGE/Krugerrands, US pre-1933 Eagles and Double Eagles, and Sovereigns (Wallets 2 and 3). I also bought the Ringer, because apparently the best tungsten counterfeits can be pretty good, but if you get a good high pitched ring, you are good to go.

In hindsight, I kind of wish I'd bought all of the testers (buy once, cry once). In a post-EMP world, for example, the Fisch would be worth a lot.

BTW, the technology of using slots and balances for testing metal coins has been around for a couple hundred years, at least.

 

[Neb]

I ordered it straight from the company: Link to the Fisch site.

It is expensive, and it took me awhile to decide to spend the cash. I tried to save some money by only buying the testers for AGE/Krugerrands, US pre-1933 Eagles and Double Eagles, and Sovereigns (Wallets 2 and 3). I also bought the Ringer, because apparently the best tungsten counterfeits can be pretty good, but if you get a good high pitched ring, you are good to go.

In hindsight, I kind of wish I'd bought all of the testers (buy once, cry once). In a post-EMP world, for example, the Fisch would be worth a lot.

BTW, the technology of using slots and balances for testing metal coins has been around for a couple hundred years, at least.

I agree about tools for assaying (sp?) would be useful post TEOTWAKI. High tech forgery would be rare. Graduated cylinders and a triple beam balance may be a crude start. What is the name of the stone that would tell if gold was genuine?

Something else to add to my preps.

Ben

 

[Neb]

I agree about tools for assaying (sp?) would be useful post TEOTWAKI. High tech forgery would be rare. Graduated cylinders and a triple beam balance may be a crude start. What is the name of the stone that would tell if gold was genuine?

Something else to add to my preps.

Ben

Touchstone

Not available on Amazon!

What gives?

Ben

 

[Tootsie]

I wonder if an old piece of slate, like an old time chalkboard, would work?

 

[Supervisor42]

Smart move! Everybody was going nutz to buy it [gold] when it was selling over $2,000 per ounce.View attachment 60012
Today the price was $1,766 per ounce.
GC00 | Gold Continuous Contract Overview | MarketWatch
So for the professional shopper-girls out there, is it on sale 20% off yet? How close is it?

Gold was at $1,697 per ounce a few minutes ago.
I'm sure the people that bought into the hype and paid $2,000 per ounce are pleased.

 

[Tacitus]

Gold was at $1,697 per ounce a few minutes ago.
I'm sure the people that bought into the hype and paid $2,000 per ounce are pleased.

Yeah...I had a hard time buying at 2000. In other words, I didn't.

But knowing it can go that high so easily, and knowing that the reasons it went that high are more valid than ever, this may indeed be a buying opportunity. I may pick up a bit. Granted, it is a hard market to get into at this point. I am very happy I started thinking about this years ago.

Funny that people don't get upset about stocks in their 401k's, as the stock market keeps buying, and they buy at highs. They just buy all the time, regardless.

 

[Neb]

Yeah...I had a hard time buying at 2000. In other words, I didn't.

But knowing it can go that high so easily, and knowing that the reasons it went that high are more valid than ever, this may indeed be a buying opportunity. I may pick up a bit. Granted, it is a hard market to get into at this point. I am very happy I started thinking about this years ago.

Funny that people don't get upset about stocks in their 401k's, as the stock market keeps buying, and they buy at highs. They just buy all the time, regardless.

"They are it for the long haul."

To which I reply

"At my age, how much long haul do I have left?"

Ben

 

[Supervisor42]

, this may indeed be a buying opportunity. I may pick up a bit. Granted, it is a hard market to get into at this point. I am very happy I started thinking about this years ago.

Funny that people don't get upset about stocks in their 401k's, as the stock market keeps buying, and they buy at highs. They just buy all the time, regardless.

Yep. You will find most that were screaming: "Buy Gold Now!!!" have left the building.
On 401K's, it could be a lot worse.
I knew several co-workers that were afraid to pick investments and 100% of theirs was in the default Money-Market fund for years making 1% (before the .6% fee).
Even DCA, (dollar cost averaging) is way better than that.

 

[hiwall]

Gold eagles are $1900 right now even though the "spot price" is about $1700.
As time goes on there will likely be larger disconnects between spot and real gold.

 

[Tacitus]

Gold eagles are $1900 right now even though the "spot price" is about $1700.
As time goes on there will likely be larger disconnects between spot and real gold.

Yes. But, shop around. At my local coin shop ("LCS") they are going for $1845 right now, with a spot of 1695...and no shipping costs! (although, you can get a Krugerrand for $1793, so I wouldn't buy an AGE when an identical Krugerrand is available for $50 less).

I suppose the AGE's are going so high in part because this is the last year for that design. They change it, for the first time, next year.

But note, premiums always lag drops in spot, because those sellers may have bought gold that they need to sell...and they are loathe to take a big loss as the price drops. If spot drops to $1600, and then stays between $1620 and $1580 for a couple months, the premiums will settle down much closer to spot. But, with a big drop, premiums will stay higher until it is obvious that things are settling.

 

[angie_nrs]

"They are it for the long haul."

To which I reply

"At my age, how much long haul do I have left?"

Ben

Yeah, but the kids are gonna love me. I feel that most of my stuff will likely benefit them more than me. I'm OK with that. If I need it, I know it's there so it offers me security. At the same time, I'm old enough now that it's time to start spending it on ourselves and enjoying it while we still can. We went out to eat lunch today at a restaurant for the first time in months. Hubs got a french dip with fries and tea and I got a cod dinner with water. Without tip it was $37! The dollar is losing power fast, which is why I'll likely keep on buying PM's at the dips.

 

[angie_nrs]

It is expensive, and it took me awhile to decide to spend the cash. I tried to save some money by only buying the testers for AGE/Krugerrands, US pre-1933 Eagles and Double Eagles, and Sovereigns (Wallets 2 and 3). I also bought the Ringer, because apparently the best tungsten counterfeits can be pretty good, but if you get a good high pitched ring, you are good to go.

I got the one for gold Eagles on ebay for $40. I tried it on mine and it didn't work and I wondered why since I bought the gold from a reputable company. I just read your post about it being for pre-1933 coins. Mine are recent.....so that explains that.

I bought some more silver on the dip today. I'm considering getting some platinum coins to add to the collection, since I don't have any of that. I haven't been watching platinum, so I'm going to start keeping an eye on it. If it dips, I might pounce.

 

[Tacitus]

I got the one for gold Eagles on ebay for $40. I tried it on mine and it didn't work and I wondered why since I bought the gold from a reputable company. I just read your post about it being for pre-1933 coins. Mine are recent.....so that explains that.

Be aware: Fisch has different testers for different coins. Some are for old coins, but others are for the modern coins. You have to make sure you are using the right tester for the right coin. Mine came in a binder to keep them all together, with instructions to make it easy to pick out the right tester. I bought the following gold coin testers:

• US Old Gold:
  • U.S. $20 (1850 - 1933)
  • U.S. $10 (1838 - 1933)
• Modern US gold (and Krugerrands):
  • Krugerrand/American Eagle/Britannia/Angel (1oz.)
  • 1/2oz. Krugerrand/American Eagle/Britannia/Angel
  • 1/4oz. Krugerrand/American Eagle/Britannia/Angel
  • 1/10oz. Krugerrand/American Eagle/Britannia/Angel
• British Sovereign / South African 2 Rand

And, note: The UK switched the Britannia from crown gold (.916) to pure gold (.999) in 2013. The above only work in the crown gold coins. The British Sovereign has used crown gold for a few hundred years.

I bought some more silver on the dip today. I'm considering getting some platinum coins to add to the collection, since I don't have any of that. I haven't been watching platinum, so I'm going to start keeping an eye on it. If it dips, I might pounce.

I've thought about getting platinum, too, because it is at all time lows in relation to gold. However, I decided to stick with gold, given the historical acceptance of gold...and platinum kind of looks like silver.

 

[Tacitus]

Watch the videos on how to test. They can help you make sure you are testing it right.

I suppose the tester could be a fake tester as well.

If you had the right tester, and you performed the steps correctly, and it still failed, I would seek to have it tested by a professional. Take it to a coin store, and ask them what they think. Some have more sophisticated tests than the Fisch. Although, some do not. Your mileage will vary at coin stores. The bigger it is, perhaps more likely they will have some professional grade test equipment.

Also, you can watch out for coin shows coming to your area. If the show is big enough, someone is likely to have test equipment. Happily, I haven't yet had a reason to doubt any of my coins.

 

[angie_nrs]

I guess I'm a bit confused by your post Tacitus, if you were responding to me. I got the gold 1 oz. gold tester, but my coin is 2021 which means that the tester won't work correct?

 

[angie_nrs]

Just FYI for anyone on the fence, there's a decent dip going on this morning.

 

[hiwall]

Just FYI for anyone on the fence, there's a decent dip going on this morning.

And it is quite possible this might be the last dip.

 

[angie_nrs]

And it is quite possible this might be the last dip.

That's what I was thinking, but markets are always moving, so who knows? I was waiting for one more dip (hoping there would be one) to make my final purchase. Done! Check sent. I should just shut off my market monitor because I'm done for a long while now.

 

[Neb]

The Princess got set up to use Glint.

https://glintpay.com/en_us/
It lets us convert dollars to gold and pay for things using gold.

It does introduce the complications of deciding when to convert cash to gold making purchases with cah vs gold. It does give a chance to shelter some value in gold without the complications of buying and selling.

Just another idea.

Ben

 

[Tacitus]

I guess I'm a bit confused by your post Tacitus, if you were responding to me. I got the gold 1 oz. gold tester, but my coin is 2021 which means that the tester won't work correct?

Some Fisch testers are meant for old coins. Other Fisch testers are meant for modern coins, even your coin.

Let's take this step by step:

First, what kind of coin do you have? Is it a 2021 American Gold Eagle 1 oz. coin? Does it look like this, but with a 2021 date?

Below is a video showing a test of a 1 oz. Krugerrand. The same tester works on the modern (including 2021) 1 oz. American Gold Eagle coin. (Both coins have identical dimensions and weights, because the AGE mimicked the Krugerrand because of the Krugerrand's success.)

As shown, the steps are:

1. Make sure you have the right tester. Does it say Krugerrand or American Eagle on it? Does it say 1.000 oz. or something like that? (Does your tester look like the one in the video? Is it possible that the tester itself is a counterfeit?...you did say you bought it on ebay at a price less than what Fisch sells them for.)
2. Put the coin through the slot. It should fit through the slot. If it fits through the slot, it is not too thick and not too large of diameter. (Fake coins typically use lighter metals, and so must be bigger to be heavy enough.) Does yours fit?
3. Put the coin in the round recess. Does it fit?
4. Is the coin heavy enough to weigh down its side of the tester as shown in the video?

If your coin failed, which part of the test did it fail? Knowing that might help us figure out what is going on.

 

[Tacitus]

The Princess got set up to use Glint.
...
It lets us convert dollars to gold and pay for things using gold.

Fascinating...a form of digital/electronic cash that protects against inflation by storing value in gold value as opposed to fiat value. I did not know about this. Thanks for the post. I will have to give this some thought as one alternative way to protect against runaway inflation.

Been around for a few years, apparently. Mastercard issued by a small bank in Ohio (Sutton Bank). Looks like Sutton Bank uses bank accounts provided by Kasasa? Never heard of these companies. Concept is cool, though: store some of your wealth in non-USD so that your eggs are not in all one basket.

Let us know how it works for you.

 

[bkt]

Fascinating...a form of digital/electronic cash that protects against inflation by storing value in gold value as opposed to fiat value. I did not know about this. Thanks for the post. I will have to give this some thought as one alternative way to protect against runaway inflation.

Been around for a few years, apparently. Mastercard issued by a small bank in Ohio (Sutton Bank). Looks like Sutton Bank uses bank accounts provided by Kasasa? Never heard of these companies. Concept is cool, though: store some of your wealth in non-USD so that your eggs are not in all one basket.

Let us know how it works for you.

My concern with this is whether you're dealing with physical or virtual (paper) gold. If it's the latter, I have concerns about decoupling (physical costs more than paper). I'm a fan of using precious metals as currency but I'm a bit unsure about this. Ben, let us know how this works out.

 

[Neb]

My concern with this is whether you're dealing with physical or virtual (paper) gold. If it's the latter, I have concerns about decoupling (physical costs more than paper). I'm a fan of using precious metals as currency but I'm a bit unsure about this. Ben, let us know how this works out.

I have physical but there is overhear buying and selling. But that is fot TEOTWAWKI.

Glint will be used as a means to ease inflation. Our success or failure will depend largely on our timing .

Ben

 

[Neb]

We met our advisor last night. Glint does hold physical gold.

We will be investing monthly doing the dollar cost averaging thing. It is only a matter of time before the government spending will drive the value of the dollar doen and gold up.

Ben

 

[angie_nrs]

Thanks Tactius. I'm a gold coin novice, but I got it figured out. I have the wrong wallet. I have wallet #3 and I need wallet #2 to test a 2021 $50 Liberty coin. I'm pretty certain the tester is authentic, and I know the coin is real. The Fisch testers are/were made in S. Africa (as printed/stamped on the back side of the tester) which was confirmed by Fisch, and the wallet I have was made in 1984 according to the insert. I'm OK with it though so that if I ever run across older US coins I can test them. It's worth having in my collection, although I doubt that I will ever use it.

In doing a little research, I found a few more ways to authenticate coins. There's this, but it looks like some folks prefer the Fisch over it. Still, the Fisch is quite pricy with limited use per wallet. The one below tests 7 different kinds of coins and is a much more affordable option.
https://goldcoinbalance.com/
I think maybe using these testers along with some other easy tests you can do on your own can help ensure authenticity. Here are some other things folks should know about gold and silver:

Neither gold or silver are magnetic. I believe there are specific magnets used for determining real gold and silver. Still, it wouldn't be a bad idea to have a magnet and make sure the gold and silver you have don't react to a magnet.

There are fewer silver fakes out there than gold because there is less incentive to fake silver due to it's reduced value as opposed to gold. It's a pretty good reason to buy silver.

Silver is a great thermal conductor. Put an ice cube on a silver coin or bar and you should immediately see the ice start melting. I tried this with one of my silver coins that was stored in an area that was 63 degrees, and sure enough, the ice started melting immediately.

Acid testing can be done, but be aware that if you acid test on a coin, it may discolor your coin thereby reducing the value of the coin.

 

[Tacitus]

Thanks Tactius. I'm a gold coin novice, but I got it figured out. I have the wrong wallet. I have wallet #3 and I need wallet #2 to test a 2021 $50 Liberty coin. I'm pretty certain the tester is authentic, and I know the coin is real. ...

That makes sense. Good to hear. I have wallets #2 and #3. I now only buy coins I can test.

 

[Tacitus]

I tried to buy some gold today. The store was mostly sold out.

All out of Crown Gold coins (22 karat, 92.67% pure):

• No American Gold Eagles (AGE's).
• No South African Krugerrands.
• No British Sovereigns.

Slim pickin's for 90% pure gold:

• No French 20 Francs.
• They did have some Mexican 20 and 10 peso gold coins.
• I didn't ask about the pre-1933 US gold coins. (I was looking for coins that trade at bullion price only. Pre-33 sometimes has a bit of a collector premium on it. I like them, but not what I was looking for today.)

They did have some 24 karat, 99.9% pure gold (Maple Leafs and Kangaroos), but I stay away from the ultra-pure gold, because the coins are too soft and can't actually be used as a coin without being damaged.

At least I know that the stuff I like to buy is the first to go when there is a rush on gold, which is nice. I think that means it will be in demand when I need to sell it.

 

[Neb]

I tried to buy some gold today. The store was mostly sold out.

All out of Crown Gold coins (22 karat, 92.67% pure):

• No American Gold Eagles (AGE's).
• No South African Krugerrands.
• No British Sovereigns.

Slim pickin's for 90% pure gold:

• No French 20 Francs.
• They did have some Mexican 20 and 10 peso gold coins.
• I didn't ask about the pre-1933 US gold coins. (I was looking for coins that trade at bullion price only. Pre-33 sometimes has a bit of a collector premium on it. I like them, but not what I was looking for today.)

They did have some 24 karat, 99.9% pure gold (Maple Leafs and Kangaroos), but I stay away from the ultra-pure gold, because the coins are too soft and can't actually be used as a coin without being damaged.

At least I know that the stuff I like to buy is the first to go when there is a rush on gold, which is nice. I think that means it will be in demand when I need to sell it.

Ues if and when the time coms.

Ben

 

[angie_nrs]

I ordered a couple of these....one for me and one for a family member. I didn't think a pair for $36 that included shipping was unreasonable.
https://goldcoinbalance.com/I like it. It's easy to use and is supposed to work on many different types of coins. It's not a 100% accurate guarantee (as they admit on the site), but it is a good tool to use and have. Aside from the Eagles and Krugerrands, there is a guarantee on this tool, so I think that's pretty impressive.

Here's a note they include on the site:
American Eagles or Krugerrands are made with less gold purity and cannot be guaranteed. See our blog post on the fake Eagle we discovered and tips to avoid them.
https://goldcoinbalance.com/fake-tungsten-gold-coinsexerpt from above:::

There are 3 main issues that suggest a coin is a fake:

1. There are small bubbles or bumps on the coin. These are very noticeable under a loop but I did not examine it that closely when I bought it.

2. Lady Liberty’s face does not display the detail that all my other American Gold Eagles do and almost looks to be sunken or skeletal.

3. The date looks too high off the coin when compared to other American Gold Eagles.

So, if you combine the tester with all the 3 steps above, it would seem that if they all pass, including being non reactive to a magnet, you most likely have an authentic coin.....is my guess. I researched if tungsten reacted to a magnet, and from what I could find, it does not....so that test won't necessarily help rule out a tungsten fake. I wonder how that fake coin mentioned would fare on the Fisch?

 

[angie_nrs]

I saw some sources implying that the silver squeeze is on and that prices should shoot up by this summer. I guess we'll have to wait and see. Here's some intersting links.....
Apparently this is a silver miner CEO who has withheld selling silver right now b/c he thinks prices are going up soon and wants to capitalize on the climb. His company is EXK stock symbol, which apparently Musk is somehow involved in.
https://twitter.com/keith_neumeyer

https://gab.com/WallStreetSilverOfficialhttps://twitter.com/search?q=$EXK&src=cashtag_click
I have absolutely no idea if this speculation is correct or not, but I'm ready if it is. I'm also ready if it's not. Still, with what Biden is spewing as far as higher gas prices, higher taxes, more gun control, and increased spending.......I can't see how silver doesn't go up. PM's are a hedge against inflation, so that it why I bought when I did. It looks like silver has enjoyed a nice recent bump, but if the speculators above are correct, there is still time to get your hands on some and be happy in the long run. Guess where my 'stimulus'.....or should I say.....MY tax refund, went??