$470 GOLD & $7.38 SILVER !!!!!!
longtimecollector
Posts: 2,368 ✭
AND STILL CLIMBING !!!!!!!!! 
Cam-Slam 2-6-04
3 "DAMMIT BOYS"
4 "YOU SUCKS"
Numerous POTD (But NONE officially recognized)
Seated Halves are my specialty !
Seated Half set by date/mm COMPLETE !
Seated Half set by WB# - 289 down / 31 to go !!!!!
(1) "Smoebody smack him" from CornCobWipe !
IN MEMORY OF THE CUOF
3 "DAMMIT BOYS"
4 "YOU SUCKS"
Numerous POTD (But NONE officially recognized)
Seated Halves are my specialty !
Seated Half set by date/mm COMPLETE !
Seated Half set by WB# - 289 down / 31 to go !!!!!
(1) "Smoebody smack him" from CornCobWipe !
IN MEMORY OF THE CUOF
0
Comments
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
OOPs forgot Asia market 471 and going
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Come on 470.00 .....High was only 469.90...
I have a quote for 471.60 now.
<< <i>Traded a Kruegerrand and $100 for an MS 65 Antietam last week--should have waited I guess! >>
At the rate that classics have been increasing of late, it's not at all clear that you should have waited
Don
<< <i>Interestingly enough, my local dealer informs me that MANY more of his gold customers are now selling rather than buying. >>
A good sign the bull market will continue. I believe we are far from a top.
3 "DAMMIT BOYS"
4 "YOU SUCKS"
Numerous POTD (But NONE officially recognized)
Seated Halves are my specialty !
Seated Half set by date/mm COMPLETE !
Seated Half set by WB# - 289 down / 31 to go !!!!!
(1) "Smoebody smack him" from CornCobWipe !
IN MEMORY OF THE CUOF
<< <i>Gold and oil should rise steadily until Rita has unleashed her furry. Fill up your tanks now, or esle you will be sorry. >>
$4-$5 gas predicted.
gold after this current rsally will settle into the lower 435 or so range by the middle end of october beginning of nov
<< <i>oh my my my my my my my my my my my....................
gold after this current rsally will settle into the lower 435 or so range by the middle end of october beginning of nov >>
I kinda doubt it. $500 or bust, baby.
Back in 1970s we had many similar COMMODITY things happening: except they limited gas ('member those gas lines?) instead of raising the price to high heaven (we'll see $5 to $10 bucks a gallon). They also had commodities going to high ground also (China is almost equally America and beating her on many commodities they HAVE to buy now). We also had just had a war called Vietnam, and we strated to fight the war against poverty (we lost that one too!). America hasn't done so great in any war ever since she did the Supreme Court thing called KILL the Prayer In Schools in 1963. But that's a common sense thing that says when you destroy the morals, ethics, and values of a country: you "ain't" gonna reap too many benefits done the turn pike! Or when you remove THE MAJOR absolute you absolutely create a very wicked country.
Look at todays CRB at :
http://www.ino.com
Back in 1980 the total money supply for M3 was around "1,850 BILLIONS" of US Dollars: now it's around "9,800 BILLIONS" or FIVE and a HALF times more than when gold made a run to $855 back around 1980! So with 5.5 times the money supply that they had the last time - gold might really scamper upward.
So even if gold is temporally oversold it ALREADY has the historically (inflation added) prescedent to hit 5.5 TIMES $855 or $4,655.00 - NO KIDDING! Remember the top of the bell curve, right? SELL into it!
The only trouble is that when it strarts up toward "them big numbers" (over $2,500) somebody will raise the interest rates back to 22% again (think FED): and then we buy LONG TERM C.D.s like grandma did in 1980 - 15% for 10 years!
Oh, yes, with all the oil and energy problems we should see oil at $100 to $200 a barrel also. Invest in oil too.
Gold coins certified by PCGS are like a secret currency that will hold its value.
<< <i> oh my my my my my my my my my my my....................
gold after this current rsally will settle into the lower 435 or so range by the middle end of october beginning of nov >>
You need to do more research. With the price of oil, the mounting gvn't deficit, upgrade in interest rates, the dollar index sliding.... Gold is good hedge against inflation!!!! $700+ within 2yrs.
WAKE UP~!
Now wash out your mouth out with SOAP! I (ME) bought those 10% interest rate long term CD's for my IRA account but it was in 1981 not in 1980!.
Lets face it, things are not going so well. The Feds may just have to raise the discount rate (currently 3.75%) to 6% by the end of next year. That will mean prime interest rates of 9%. That will indeed begin to bite into the economy and commodities such as gold but prices of gold could be well over $500 by then.
Good luck to all
Rob
There is a better alternative for you.
Go to the bank, order $500 face of half dollars at a time and look through all the half dollars. Save the real BU halves for your rolls and the 40% and 90% silver halves.
All this is at face value. Perfect for your budget and you will have a lot more fun at it too.
IMO silver may be a very good bet at this point it's been held down too not to show their hand. The Central Banks are running out of silver for the most part and has been a hedge since ancient times. When Gold blows silver will be $50 to $100 an ounce. Buy some scrape Franklins and Walkers for a little over spot.................Merc dimes too. JMO
<< <i>Go to the bank, order $500 face of half dollars at a time and look through all the half dollars. Save the real BU halves for your rolls and the 40% and 90% silver halves. >>
Oreville - This is a GREAT solution! I'm running with it.... Thx.
And I truely meant what I said...I hope ALL of you make a bundle. You have paid your dues, now maybe its time to reap some rewards
Rob
<< <i> Interestingly enough, my local dealer informs me that MANY more of his gold customers are now selling rather than buying. >>
That's because they bought at a decent price and will make money.... Many reasons behind this - Thinking many getting older and scared of any particular investment as of late.
<< <i>Gold coins certified by PCGS are like a secret currency that will hold its value. >>
Don't confuse US rare coins with the worldwide price of gold. Thats marketing hype.
The gold buyers in India and China won't be interested in GEM BU US Gold at 25 x gold value, particularly if gold reaches 1000+ per ounce and American collectors are already reaching the end of thier home equity credit lines.
I'm lovin it.
<< <i>
The gold buyers in India and China won't be interested in GEM BU US Gold at 25 x gold value, particularly if gold reaches 1000+ per ounce and American collectors are already reaching the end of thier home equity credit lines. >>
I tend to think that coin collector types are more careful with their money and have a better understanding of economics than common folk.
I will sell my sets someday but only for gold not for currency......
$20 Saint Gaudens Registry Set
I asked him to see what he could buy in MS64 Saints before the show opened as gold had already shown strength into the higher 450's by last Friday. There was a feeling that more strength might be coming. I was hoping to buy a pile of Saints for $700 or less but could only got some at $725. A $50 move in 2 weeks is a quick move. Today he called me to tell me had found more but now they would cost $775!!!!!! $50 more in 3 days! It seems one of the major gold players has a huge order for anything in the MS63-66 range for Saints and $20 Libs. There is not enough out there right now to fill it. His thoughts were that this rally has some real strength. Long Beach ought to be a kick. He didn't expect to be able to buy any $20's at the show and make money on them.
But on the good side he told me had just gotten back a few dozen Saints from PCGS that will be waiting for him once he got home next week. He ought to pocket an extra $1,000 or more by waiting.
The leverage on the MS64 Saints I think is quite apparent at this point as they have jumped from $650 to $775 in about a month.
Gold has moved about $30-40/oz. That leverage is 3-5X. Buying and holding gold is safer but the leverage is not there, and the premiums to buy are just as large as the Saints at wholesale.
Saints now trade sight unseen with no problem as long as they are spot free. Trading out of 64 Saints into say bullion at this point would preserve most of one's upside and still keep you into gold.
Me, I love the look of a nice Saint, not the "too perfect" look of a modern $50 eagle.
$480 was Sinclair's call on the next strong leg in gold. It would seem this one should take it out. The short sellers and all the gold guru's who have told their clients to dump at every move up are now looking pretty ridiculous. I don't suspect will see under $450 again for a while....at least I hope not.
roadrunner
<< <i>oh my my my my my my my my my my my....................
gold after this current rsally will settle into the lower 435 or so range by the middle end of october beginning of nov >>
Man, I doubt that very, very much. More like $490 to close out the year is my guess.
I hope you are right, though. I'd like to grab quite a few ounces at that price.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
At $435, gold would be at a nice buy back price. And at those levels common saints would have fallen back $120 or so in medium grades. Leverage up and leverage down. But as Coynclector put it, once the gold # gets too big, the leverage will be mostly gone.
History-wise MS64 Saints, now pushing $800, were as high as $1500 in the 1990 market peak. I think they were as high as $3000 when common Morgans in 65 reached $600-800 during the early days of PCGS. Granted, some or most of those are now MS65's, the entire market has shifted by that same amount. I remember buying some of them in April 1990 at $1000 a pop thinking they were "good" deals. Uh-huh.
roadrunner
<< <i>Deadhorse, glad to see the forum's #1 silver baron back in town.
At $435, gold would be at a nice buy back price. And at those levels common saints would have fallen back $120 or so in medium grades. Leverage up and leverage down. But as Coynclector put it, once the gold # gets too big, the leverage will be mostly gone.
roadrunner >>
Silver Baron? Yeah, I still lurk a bit. Been real busy with work and remodeling a house I bought for myself. Already sold my current place and now I need to move in the hurricane.
Now I'm thinking I should have bought metals this summer instead of a bigger/better house.
Good to see you're still holding down the PM fort.
I converted all my numismatic gold to modern bullion a while back. Still buying and flipping melt silver. Silver has been very good to me, no question there.
I really thought we weren't going to see a big run up till the last quarter or so of '06. That's been my position since back in '01 so I''ve just been studying the charts and buying and flipping and adding to the hoard. Sometimes ya just gotta hold it given the volatility. Still, we don't know how permanent this run up is going to be.
I remember a thread around the first of this year where we all made predictions on where gold would close on 12-31-05. If I remember correctly, I think I said $488.50, I think we'll see some more fluctuations but I'm liking the $490 range these days. I'll jump back in if we get a sudden drop. Problem is, it's not so easy to come by at times like that.
As far as silver, $7.75 sounds about right to me for the end of the year. I still prescribe to the notion that in two years or less that we are going to see metals prices that only the most optimistic would admit to. Call me crazy, but I can see $800-$1000 gold and silver in the near $20 range. I may be being conservative on the silver prices there.
Time will tell, but it seems like world events have been speeding up rapidly to me.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
I think your price ranges are certainly in the realm of reason. Up markets tend to totally fool the majority. Who would have thought we'd hit 5,000 on the NASDQ or 10,000 on the dow back in 1982?
Speaking of your house, I haven't yet followed through on selling mine and getting a rental. With many home prices now stagnant in the northeast, I think the better deal is to wait out the impending asset deflation by renting. For those with tons of stuff, pets, kids, etc. it's a tough think to get and move on. It's still in my thoughts but inertia is tough to overcome.
roadrunner
<< <i>Deadhorse,
I think your price ranges are certainly in the realm of reason. Up markets tend to totally fool the majority. Who would have thought we'd hit 5,000 on the NASDQ or 10,000 on the dow back in 1982?
Speaking of your house, I haven't yet followed through on selling mine and getting a rental. With many home prices now stagnant in the northeast, I think the better deal is to wait out the impending asset deflation by renting. For those with tons of stuff, pets, kids, etc. it's a tough think to get and move on. It's still in my thoughts but inertia is tough to overcome.
roadrunner >>
Housing prices are very soft in the Houston area right now. In fact there are 4 times as many homes for sale than the 20 year average. I was able to get a very good deal on a home needing quite a bit of repair and upgrades but still in a high end neighborhood. I should end up with a very nice place at about 20% less than appraisal value when all is said and done. Actually, I'm moving very close to Jason Stevens, just down the road a mile or so.
I remember you talking about moving to the rental quite a while ago and you mentioned inertia then as well.
Well, You gotta live somewhere, higher end housing tends to deflate less than mid to upper mid range. Besides, I can use the tax breaks again. I lost some of those when I paid off my current house after doing so well on that last big silver spike. Now I've got a mortgage again, but it's very managable. Not much more than the property taxes. I did all the renovations out of pocket. With incorporation, part of those tax breaks become above the line for me, so I felt it was a good time to make the move and my tax attorney was twisting my arm.
So, we'll just keep flipping silver and grabbing a little gold for a while and see where this takes us. I've got a sell out price in mind, but it's a ways off(I think).
I'm still buying the melt silver coins all the time and flipping them for bullion. It's a plan that's served me well over the years.
So, let's just sit back and enjoy the ride..........
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
RegistryNut
Man I love this place for info.
<< <i>Wonder about everyones thoughs regarding this new hurricane headed to texas and what kind ov movement it might cause in gold and silver?
Man I love this place for info. >>
The move has been going on the last few days. Gold went all the way up to $475 last night. Now it's selling off.
Thanks
Renee
<< <i>I have enough $'s for 100 oz's in silver or 2 oz's in bullion gold. What is my better choice or will it wash out down the line about the same?
Thanks
Renee >>
I'd say go with the silver. Not too much downside, but always lags behind gold.
roadrunner