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Who's buying gold at these prices !!!

Probably no one. Gold is in a bubble. It can't go much higher. You've got to be foolish to buy it here.
What's wrong with these people image


Must be nuts
«1

Comments

  • Joe6Pack probably can't buy at this gold price, but he can and will buy SILVER. Keep stacking both!!!!
  • Can't - I'm all in baby!! Gonna cash out at the peak and pay all my creditors with worthless dollars! Like my dad always says "you give them your nice silver coins and they give you paper." My dad got me into coins over 35 years ago and he still has all the stuff he's accumulated - didn't even flinch during the 80's.
  • I know I have a BIG bag full of M.S. Quality walking libertys I will be selling soon!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • OverdateOverdate Posts: 6,902 ✭✭✭✭✭


    << <i>I know I have a BIG bag full of M.S. Quality walking libertys I will be selling soon! >>


    If they're halves and not Silver Eagles, mint state Walking Liberty halves are worth quite a bit more than melt.

    My Adolph A. Weinman signature :)

  • derrybderryb Posts: 36,108 ✭✭✭✭✭
    Somebody's driving the price up, they don't do that by selling!

    The decline from democracy to tyranny is both a natural and inevitable one.

  • sbeverlysbeverly Posts: 962 ✭✭✭
    I suspect that foreign central banks are moving the metals...

    I'm sure the Chinese for example , are not pleased with the QE announcement.
    Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I was looking to buy some Au. Bought 50 oz silver instead Tuesdayimage
    Avid collector of GSA's.
  • jmski52jmski52 Posts: 22,297 ✭✭✭✭✭
    I'm thinkin' about buying more silver, but I'm making sure that my expenses are covered for a few months out before I commit.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    Those who hold this line are not paying attention. Gold is going to $1600 simply based on US dollar devaluation (thanks for QE2 Mr. FED). I'll buy at these prices.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Miners have been lagging the metals for several years. They are starting to catch up but are still historically cheap. I'm continuing to add them.

    I have a BIG bag full of M.S. Quality walking libertys I will be selling soon!

    I wouldn't be surprised if they gained zero value since silver has moved up from $18 to $25. Premium bullion related items should continue to lose value as bullion rises. Though at the point that the premium is entirely gone, then the item will finally benefit from further price increases.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    A LOT of people. I am not a bullion dealer but I've done a couple hundred thousand in bullion ( swiss 20 fr) and generic gold since yesterday.


  • << <i>Probably no one. Gold is in a bubble. It can't go much higher. You've got to be foolish to buy it here.
    What's wrong with these people image


    Must be nuts >>



    You gotta be foolish to make that statement.

    It CAN and WILL go much higher. You have no idea what you are up against here.
  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭
    Sold about a hundred ounces retail in the past hour.......
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • PrethenPrethen Posts: 3,447 ✭✭✭
    I'm a buyer of generic gold coins.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I still wanna know what a generic 1 oz gold round looks likeimage













    image
    Avid collector of GSA's.
  • I added to the stack this week, a 1/10 oz. AGE and 2 prospectors.image

    Slow and steady...........................Damn, that's the same thing the wife told me last night. imageimage


    Herb
    Remember it's not how you pick your nose that matters, it's where you put the boogers.
    imageimageimage
  • rpwrpw Posts: 235 ✭✭
    I am buying AGE, ASE and bulk 90%. It never ceases to amaze me that we are watching the annihilation of the US dollar and yet some people are carrying on as if it is business as usual. This is going to end in tears as these things usually do, probably when DJIA = 1 oz of gold. Whether that is $3000 or $5000 I can't say but that's where it's headed.
    imageimage Small Size National Bank Note Type Set $5-$100
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    You do have to be carefull out there (as usual). You can still buy the 4 piece AGE proof set (in OGP) for $2,938 from the Mint. Both Gainsville and APMEX are selling these sets NGCPR70 (Gainsville) or in the OGP (APMEX) for $3,420ish PLUS shipping! Quite a profit they're taking in with each sale.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826


  • << <i>Miners have been lagging the metals for several years. They are starting to catch up but are still historically cheap. I'm continuing to add them.

    image
  • MsMorrisineMsMorrisine Posts: 32,123 ✭✭✭✭✭


    << <i>Sold about a hundred ounces retail in the past hour....... >>



    Are you in Balitmore this week?
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    I'm fixin to sell a few ounces of gold and invest the proceeds in concrete, steel, and sod.

    I will store the new commodities in my backyard, rather than my bank box.

    Liberty: Parent of Science & Industry

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I have halted all PM buying, completely stopped til I see at least a 10-15% retracement. I'll only be selling from the stash at this point being that the cost avg. of that is significantly lower of what I can flip it for now.
    To forgive is to free a prisoner, and to discover that prisoner was you.


  • << <i>I have halted all PM buying, completely stopped til I see at least a 10-15% retracement. I'll only be selling from the stash at this point being that the cost avg. of that is significantly lower of what I can flip it for now. >>

    You probably saw the NEW LOW today! better buy now!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,275 ✭✭✭✭✭
    I have not added gold for the last month - mostly because I hit my goal.

    I've added 250 ounces of silver in the last two weeks. Fortunately silver was $24 or below during most of that period.
  • MilesWaitsMilesWaits Posts: 5,300 ✭✭✭✭✭
    AGE Proof One Ouncers of the 2010 variety. Guess I like paying high premiums!

    Other than that, picked up some One Ounce Wolfs at the local show at $26. Love the design!

    So yes, always buying. Can't stop. Must have oxygen. Pfffft.

    Miles
    Now riding the swell in PM's and surf.
  • OverdateOverdate Posts: 6,902 ✭✭✭✭✭


    << <i>I still wanna know what a generic 1 oz gold round looks likeimage

    image >>


    And where are all the bags of 90% junk gold?



    << Premium bullion related items should continue to lose value as bullion rises. Though at the point that the premium is entirely gone, then the item will finally benefit from further price increases. >>

    When gold reaches $50 million per ounce, it will be time for the ceremonial melting of the 1933 double eagles. image

    My Adolph A. Weinman signature :)

  • bestmrbestmr Posts: 1,761 ✭✭✭
    I just sold some misc silver the other day that didn't fit with my collection, ie, war nickles, 40%, silver dollars, ect. Used some of that $ to get a PCGS PR69DCAM off Ebay for $380. WOOT!
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • TWQGTWQG Posts: 3,145 ✭✭
    Recent purchases include 1 oz Proof gold and 2009 silver quarter sets from the mint. I hit my physical target a while ago but still nibble for the collection.
    I continue to trade GLD, SLV, AUY, PZG, PAL in my retirement accounts.
  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭


    << <i>

    << <i>Sold about a hundred ounces retail in the past hour....... >>



    Are you in Balitmore this week? >>



    We have people there, but I am talking about at our store in beautiful downtown Chicago.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I think we are starting to see a gold bubble form as too many people are suddenly trading in it and all the guys on TV make projections on what it will be worth. It almost reminds me of Japan before the crash or the .com era. I still think gold may double from here and this is close to a base but nothing goes up forever unless the dollar gets wiped out which isn't go to happen yet. When Cramer is touting gold on TV you know the Fast Money is chasing it, it is paper money but it is still chasing it.

  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I think the golds ETFs are why the gold mining stocks have underperformed, it used to be that traders had to buy the mining stocks to participate but once the ETFs came out they switched to those trades.

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    You ever hear of a crowded trade? Do you know what happens in crowded trades?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>You ever hear of a crowded trade? Do you know what happens in crowded trades? >>



    So what are you saying? Be specific please....

    1) Which trade is crowded?
    2) When time wise will this crowded trade become too crowded and bust? I want a time frame. In other words when should we be headed for the doors?
    3) Why is this trade crowded? What are your indicators?

    Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Ive actually loaded up on gold in the last month or so....over 3 oz so far. It is a great time to load up on gold because the GSR is lower. Amazingly most of the gold i have bought Ive actually bought it damn near spot after Mr Rebates and Ebay bucks and even got some gold below spot. I cant complain when i bought a 94 1/4 oz Eagle proof for 361 minus all the cash backs

    Gold may be at an all time high but buying metals based off the GSR is a good strategy as well
  • it chokes me because this is NOT a normal market. Silver does NOT gain 160c a day, nor gold $45.60. This kind of market can turn on you rattlesnake fast and bite clean to your bone.

    I'm left with one of two conclusions: either this panic will pass quickly, and prices will settle down, or we have just had the first taste off Bernanke's Inflationary Buffett, and markets will only get wilder. God have mercy on us!
    I don't really watch the news, because the markets' daily charts digest all the information and report much more accurately than any coiffed and blow-dried anchor that ever nasalized a sentence. today the charts say we are in deep trouble and a panic is developing. An international panic, perhaps, out of the US dollar.
    But greater evidence of panic erupted in stocks, silver, and gold as investors frantically scrambled to shuck US dollars for something, anything, of value.
    Bear in mind that these are NOT usual markets, but an alien new world in which the currency rivets are popping out. I don't know what might happen, and neither does anybody else. There's no chart for these waters. Y'all had better become tough-minded and philosophical overnight.

    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Look at the up side before the big dip Wednesday. Thursday was still a nice day but to me 1/2 it was regaining Wednesdays dip.
    Avid collector of GSA's.
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    and let's see what today's lack of jobs number brings.............If you're a long term/ long time holder of gold/silver try to ignore the noise. Sell smoe whenever your sleeping weight is keeps you up at night. The ride is more enjoyable that way.

    A one percent move in gold is now $14. Sounds like a lot, but it really isn't. $15 swings will be the new norm and there will be more days of $50 moves. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • As much as i like prices to go up but the truth is that it is not precious metals that are going up, its the dollar that is getting massively devalued. I read somewhere that with the new round of QE the dollar would be devalued by 20%. That means that prices across the board could go 20% higher than what it is right now. If that holds true that puts silver at around 30 bucks and gold at around $1650.

    We may love the action now but we may just be experiencing the demise of the almighty dollar.

    Remember...what good is 30 dollar silver or 1650 gold if food costs twice as much

    There's some food for thought
  • CaptHenwayCaptHenway Posts: 31,499 ✭✭✭✭✭


    << <i>and let's see what today's lack of jobs number brings.............If you're a long term/ long time holder of gold/silver try to ignore the noise. Sell smoe whenever your sleeping weight is keeps you up at night. The ride is more enjoyable that way.

    A one percent move in gold is now $14. Sounds like a lot, but it really isn't. $15 swings will be the new norm and there will be more days of $50 moves. MJ >>



    Excellent point.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • DrBusterDrBuster Posts: 5,301 ✭✭✭✭✭
    On another board this week I said I'd like to see 1600 and 30 by the end of the year and got lambasted by this idiot that was preaching bubble and I'm a fool, blah blah blah. QE will push the dollar down, and I don't think the big boys or the IRA bullion folks are going to let anything more than a 20% down tick occur.

    to add: I did buy the 1/4 and 1/10 AGE proofs, that's probably it for me for a bit as it's holiday and crazy womens b-day times for me (wife, mom, MIL, grandma all in Nov).
  • The shorts are buying at these levels.
    By the looks of the daily increase in silver and platinum and palladium it feels like panic buying too.
    Do not be surprised if there is a 10-15% pull back once they have all covered their shorts, but there is possibly a 15-20% run up before that happens.
    Buy the dips!!!


  • << <i>The shorts are buying at these levels.
    By the looks of the daily increase in silver and platinum and palladium it feels like panic buying too.
    Do not be surprised if there is a 10-15% pull back once they have all covered their shorts, but there is possibly a 15-20% run up before that happens. >>

    Shorts in full panic - Buy out imminent
    lol...on technical tops and crap....there is CLEAR insider action that is a massive indication of a big sale.

    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ

    With a reply comment like that, it sounds like you have your mind made up, and it isnt worth my time to try and convince you of anything because you have blinders on.

    As much as i like prices to go up but the truth is that it is not precious metals that are going up, its the dollar that is getting massively devalued
    We may love the action now but we may just be experiencing the demise of the almighty dollar

    BINGO!!!

    People are be blinded by the fact that their PM is worth more, but I wonder do they realize that everything they buy with this kind of economic fundamentals, is going to cost them more because their $ is soon to be worth sh*t. So you go cash in your PM's and get the cash...and you find that it isnt worth as much and you cant buy as much as you could've in the past. To me, it's a double edged sword. Sure im happy my PM is worth more, but when I go to cash it in im not getting as much out of it becuase I pay for stuff with Dollars, unfortunately.
    Then you have people say, Im not cashing in, im going to hold to $x. Guess what, at that point you're $ is worth even less. Until we can buy things like cars, houses, furnaces, appliances or pay a contractor to do work on our home or car with PM, and not with paper money, you're LOSING ground.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • percybpercyb Posts: 3,301 ✭✭✭
    It's my understanding that China and other countries are buying gold. The USA is buying treasuries because these other nations no longer want to subsidize our debt.
    "Poets are the unacknowledged legislators of the world." PBShelley
  • jmski52jmski52 Posts: 22,297 ✭✭✭✭✭
    <<Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ >>

    With a reply comment like that, it sounds like you have your mind made up, and it isnt worth my time to try and convince you of anything because you have blinders on.

    Now, let me get this straight, you are saying that gold mining stocks are a crowded trade, right? Instead of ETFs causing them to drag, you are saying that they are lagging because they are a crowded trade, right? As I interpret it, MJ was simply asking why you thought so. (BTW, Peter Schiff was just on today talking about how the miners have gone ballistic.)

    I have to agree with you on most of your declining dollar observations, but I don't see a pm position as losing ground. When the dollar drops a point, from 0.77 to 0.76 for instance, how much do the pms move? I'm thinking that the metals are moving much faster than the dollar because of the relative size differentials of these two markets. It doesn't take nearly as much capital flow to move the metals as it does to move the dollar, correct?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.


  • << <i>
    BINGO!!!

    People are be blinded by the fact that their PM is worth more, but I wonder do they realize that everything they buy with this kind of economic fundamentals, is going to cost them more because their $ is soon to be worth sh*t. So you go cash in your PM's and get the cash...and you find that it isnt worth as much and you cant buy as much as you could've in the past. To me, it's a double edged sword. Sure im happy my PM is worth more, but when I go to cash it in im not getting as much out of it becuase I pay for stuff with Dollars, unfortunately.
    Then you have people say, Im not cashing in, im going to hold to $x. Guess what, at that point you're $ is worth even less. Until we can buy things like cars, houses, furnaces, appliances or pay a contractor to do work on our home or car with PM, and not with paper money, you're LOSING ground. >>



    Couldnt have said it better...one too many times you hear people say well ill sell at this or that amount. Thats all great but your $ will be worth less. The only advantage that i see to selling would be to pay off any debt you may have. Pay debt with inflated dollars. Dont get me wrong, I have sold recently BUT not to acquire FRNs but rather to sell as a means to trade for another metal. I have worked it out so that the minute i sell silver to the dealer i lock in my price for whatever gold im getting that way im not exposed to the changes. Yes i trade for FRNs for a brief period but im not going to let myself become exposed to more devaluation

    I am a service member living in Germany and i can tell you from first hand experience that food at our commissary is very expensive now. So much that we will now be buying our groceries at the german supermarkets. We used to be able to buy a months worth of groceries for $300-350 now we're at about $400 or more. My wife just did shopping at the german supermarket and she bought a week's worth of groceries for about 50 euros (or about $75). All while our commander in chief spends $200 mill per day for a trip to Inida
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>Probably no one. Gold is in a bubble. It can't go much higher. You've got to be foolish to buy it here.
    What's wrong with these people image


    Must be nuts >>




    image
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    We used to be able to buy a months worth of groceries for $300-350 now we're at about $400 or more.

    and you're not getting as much as you use to either. Packaging is in smaller quantities than they used to be. So in effect, you're paying more, for less. It's one thing when something like this happens over an extended period of time, things catch up. But when it happens basically over the last 2 months and more $'s are being injected to the machine nearly simultaneously, it's inevitable that inflation will occur...and lets not fool ourself. Thats what the Govt. wants to happen.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • Ladies and Gentlemen, buy and hold both gold and silver at these levels please. You will be glad you did, and your families will thank you for having had the wisdom to do so. We are in for some very rough times...
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    <Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ

    With a reply comment like that, it sounds like you have your mind made up, and it isnt worth my time to try and convince you of anything because you have blinders on>

    So you can't or won't any my questions I asked you below. The rest of my quote below. No worries. FYI- I've been short pm's in the past and I hedge so save your rheotric for smoeone else. .........MJ


    So what are you saying? Be specific please....

    1) Which trade is crowded?
    2) When time wise will this crowded trade become too crowded and bust? I want a time frame. In other words when should we be headed for the doors?
    3) Why is this trade crowded? What are your indicators?

    Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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