Is Silver next?

[snorko]

It just seems like there should be some kind of standard for determining the worth of gold or silver, etc.. If purity is .90, then it should be valued at .90 of of spot for .999 or .9999. I realize that the old coins weren't made with that in mind but dang, it just seems awfully convoluted.

Now you have me questioning my sanity understanding.

And this is why I stick to well marked coins, though the pre-33 gold should be GTG.

 

[DoggyDaddy]

Now you have me questioning my sanity understanding.

Oh crap! C'mon snorko! I look to you for wisdom in these matters!

 

[snorko]

Oh crap! C'mon snorko! I look to you for wisdom in these matters!

Oh you poor lost soul.

 

[Kurr]

The old coins were meant for circulation. The coins the mint now produce are not intended for circulation. I think '65-'70 was the last silver with the 40% half dollar, before that it was all 90%.

And many companies produce .999 medallions, or rounds. I consider a coin to be government issued currency.

 

[DoggyDaddy]

Now this thought really will blow our minds I think. The value of gold is priced in USD. But if the USD is no longer the worldwide reserve currency, and that switches to yuan or rubles or crypto, then what are precious metals really worth?

 

[DoggyDaddy]

The old coins were meant for circulation. The coins the mint now produce are not intended for circulation. I think '65-'70 was the last silver with the 40% half dollar, before that it was all 90%.

And many companies produce .999 medallions, or rounds. I consider a coin to be government issued currency.

Right. That's why I put "coins" in quotes. I should have just said rounds. But there are also sovereign coins that are .999 (Britannias, Philharmonics, etc.). It makes my brain hurt.

 

[Kurr]

Jewelry is worse, lol.

 

[snapping turtle]

Russia now said it will buy gold at I believe 57 a gram. Than kind sets a floor for gold.

So now you can always know you can get 57 a gram.

 

[ancjr]

PM Technical Analysis

 

[ancjr]

Hope yall got your buys in. Looks like the sale is over for now.

 

[BigRed]

Still a big spread between spot and American Eagle.

$2 maybe $3 used to be the norm. Now I'm seeing $10 and even $15.

What the heck?

 

[ancjr]

I don't think inflated coin prices are going away any time soon.

 

[rosejm]

Still a big spread between spot and American Eagle.

$2 maybe $3 used to be the norm. Now I'm seeing $10 and even $15.

What the heck?

There's a shortage of planchettes from the Mint's suppliers. Wholesaler deliveries are taking longer than usual. Quite a bit of talk that there's "plenty" of silver available, just not in the ASE form. There's also been discussion about lengthy delays from Canadian (8-12w) and Mexican (TBD) mints for Silver Maples & Libertads.

I have some concerns about the planchette theory, since volume prices for: Rounds are +$5 (20%), 10oz bars +$4.50 (18%), and 100oz bars +$3.50 (14%) are noticeably higher than in recent history.

That seems to point to a significant divergence from the paper spot price - which generally cannot be completed physically despite the instruments definition...

 

[teddy12b]

I can only hope you're all prepared to watch the spot price drop today. I'm about to place an order. God be with you all.

 

[snorko]

I can only hope you're all prepared to watch the spot price drop today. I'm about to place an order. God be with you all.

And also with you (Lutheran reflex). I hope you made your buy early, prices are continuing upward.

 

[teddy12b]

Well, I didn't want to just take down silver today, gold will plummet soon also. Granted the gold I bought could easily be blown out of my hand by a strong breeze, because it's such a tiny flake. I don't know how much luck will rub off on the gold, but precious metals will likely take a dip soon.

 

[ancjr]

 

[teddy12b]

He didn't know I just bought some silver and gold before producing this video. His charts can't survive the force of nature that was just created.

 

[ancjr]

He didn't know I just bought some silver and gold before producing this video. His charts can't survive the force of nature that was just created.

Yesterday was a huge day for mining companies. Just an ant dip on a little softness today. Monday will be a better indicator of the larger market.

 

[DoggyDaddy]

Yesterday was a huge day for mining companies. Just an ant dip on a little softness today. Monday will be a better indicator of the larger market.

Prices up today.