Closing in on $1800. We are back into the coin posting range.
I take full credit for the silver move. I sold off ASEs, 90% and a bunch of Peace and Morgan’s at about $19. Oh well. The proceeds will allow me to post some gold when we break $1800.
An interesting observation about silver that I came across elsewhere.
A silver dime bought a loaf of bread the last year it was minted.
Today, the same dime will buy a loaf of bread once converted to FIAT.
Same with a quarter and a gallon of gas.
As the first week of December progresses gold continues to hover around the $1800 price point. It is anyone's guess if the $1850 gold initially subject of this thread will be seen again before the end of 2022.
@vulcanize said:
An interesting observation about silver that I came across elsewhere.
A silver dime bought a loaf of bread the last year it was minted.
Today, the same dime will buy a loaf of bread once converted to FIAT.
Same with a quarter and a gallon of gas.
Wonder if there is similar comps for gold?
$2 loaf of bread?
I think it's just a bit of coincidental cherry picking. Bread went up over the the last 2 years while silver went down.
You can pull up the gold chart in constant dollars. If this thesis were correct, the oeuvre of gold would be constant over time. Hiwever, here's a lot of fluctuation. They don't correlate very well.
Of course you could also argue that the CPI is flawed. But the two sectors that are most volatile are food (bread) and energy (gas).
@vulcanize said:
Yesterday, I had typed out a lengthy response with relevant links twice and both times it went to the blackhole of moderation queue.
with any lengthy response, you should save it to a txt file or copy it to your clipboard before attempting to submit. The little bug rears its ugly head fairly frequently.
It's not foolproof, but you can minimize the appearance of the bug by removing any active pieces of the post. This can be links or even just names. Especially if you are responding to a post with multiple names in it, it seems to help to trim them down. If you have multiple links yourself, as you mention, it might be better to put them in separate posts.
I usually do that but it was very late in the night and was least expecting the flubbing.
It has happened again now after editing reply for adding a link and the entire post disappeared.
Anyways, it is all fudged and made to seem very blurry for the comprehension of the average Joe who is more interested in his six pack of beer and catching the game on TV.
@Jzyskowski1 said:
Vulcanize.
Ok. 80 trillion,, no biggie. 🙀
That’s a rather thick read but not bad. Sure hope they are wrong 🤨
LOL.
There's more sinister stuff lurking that makes the 80 Trillion seem like chump change compared to the $2.5 quadrillion in derivatives held by the banks that may perhaps cause the financial system meltdown first because a repeat of the 2008 "too big to fail" bail outs won't be able to take care of that mess.
Well, with AI making the news lately, perhaps can be used to track and rectify it all.
Okay, don't want to derail this thread but am interested in asking as to what the general consensus is, about repercussions on the PM market now that the U.S. federal government's total outstanding debt has reached its $31.4 trillion ceiling (according to the Treasury Department).
@pcgscacgold said:
FYI, sold off another lot of silver today. It’s up 30% since last sale. I told the dealer to look for another 30% run.
As mentioned in another thread, the premiums are disappearing.
Yes. Evaporated. The actual market price of silver coins has dropped 20+% in the last 3 weeks. 90% was wholesaling at 22x face and now it's down to 17x. The wholesale price on ASEs has dropped from +$9 to +$4. Gold is less noticeable but Upstate is down to +2% in AGEs and they were at almost +6% a month ago. So while gold has gone up almost 6%, the price is only up 2%.
@pcgscacgold said:
FYI, sold off another lot of silver today. It’s up 30% since last sale. I told the dealer to look for another 30% run.
As mentioned in another thread, the premiums are disappearing.
Yes. Evaporated. The actual market price of silver coins has dropped 20+% in the last 3 weeks. 90% was wholesaling at 22x face and now it's down to 17x. The wholesale price on ASEs has dropped from +$9 to +$4. Gold is less noticeable but Upstate is down to +2% in AGEs and they were at almost +6% a month ago. So while gold has gone up almost 6%, the price is only up 2%.
Exact amounts the dealer quoted to me today when I was selling. The 90% premium evaporated over night.
I am keeping the 90% for now. Just off loaded 5oz pucks and ASE's. They still had premiums and were up $5 an oz from last time.
@pcgscacgold said:
FYI, sold off another lot of silver today. It’s up 30% since last sale. I told the dealer to look for another 30% run.
As mentioned in another thread, the premiums are disappearing.
Yes. Evaporated. The actual market price of silver coins has dropped 20+% in the last 3 weeks. 90% was wholesaling at 22x face and now it's down to 17x. The wholesale price on ASEs has dropped from +$9 to +$4. Gold is less noticeable but Upstate is down to +2% in AGEs and they were at almost +6% a month ago. So while gold has gone up almost 6%, the price is only up 2%.
Exact amounts the dealer quoted to me today when I was selling. The 90% premium evaporated over night.
I am keeping the 90% for now. Just off loaded 5oz pucks and ASE's. They still had premiums and were up $5 an oz from last time.
The good news is that there should be a more direct connection between spot piece and coin price now. And I never understood why the premium persisted as long as it did. But it is fascinating to me that it looks like silver has been going up when the oeuvre of physical silver coin has been dropping significantly.
Not a bad price point to enter the weekend. Definitely edging up closer to that $1850.
GOLD $1,799.59 (+1.24) - Today
As the first week of December progresses gold continues to hover around the $1800 price point. It is anyone's guess if the $1850 gold initially subject of this thread will be seen again before the end of 2022.
GOLD $1,797.75 (+7.97)
And a week later ... again hanging close to the $1800 benchmark.
@vulcanize > @Jzyskowski1 said:
Well now
Today’s moment in time is one I just love seeing, even for a second. Just looky at silver . $24+ is very nice indeed
I know I've said it before, but I would stop using that site. It's designed to make you overpay for bullion. The highest ASK price of the day is only $24.22. They use a future month rather than COMEX to sell their bullion products at a slightly higher number.
My plan is coming together nicely. Sold off some silver, price went up 30%. Sold off some more silver, price is up 5% in a few days. The big question is "what is happening to the premiums".
@pcgscacgold said:
My plan is coming together nicely. Sold off some silver, price went up 30%. Sold off some more silver, price is up 5% in a few days. The big question is "what is happening to the premiums".
Believe it or not, still dropping..Upstate buy on 90% is at NEGATIVE $0.25 from +$9 a month ago and zero last week. AGE buy is down to +1.9% from 2.5% a week ago.
Comments
Just lovin it for a second 😁
🎶 shout shout, let it all out 🎶
Looky here. My little guy is doing the “ little engine that could “. Just a little minute in time, but as always, silver over $20 is welcome 😁
🎶 shout shout, let it all out 🎶
What will the Fed do? Any rate slow down indication?
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
.
https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
This is nice for a minute 😁
🎶 shout shout, let it all out 🎶
GOLD $1,714.21 (+37.91)
Staying back up over $1700 with recent double daily double digit moves. Upward trend?
Still aways to go though before again hitting $1850 gold.
$22. If only for a moment. 😁
🎶 shout shout, let it all out 🎶
I mean a moment. I’m such a sap about prices 😁. Even my animals question my obsession 🦫🙀😻😸
🎶 shout shout, let it all out 🎶
Metals being helped by the dollar?
Dollar once again less than Euro and similarly against pound back to prior (60 day chart).
And that one gold jump came against a slightly lower than anticipated inflation number.
What is next???
.
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
.
https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
Well now. There should be some smiles happening now. Gold is knocking at the door. 😁
🎶 shout shout, let it all out 🎶
I know the dealer I sold silver to at $19 is smiling. Oh well, I like what I bought with the proceeds. 😊
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
GOLD $1,772.01 (+15.68)
Not a bad price point to enter the weekend. Definitely edging up closer to that $1850.
Well now
Went to check prices this morning and there was a rather comical error. At these prices I’m buying everything 😂😂😂
🎶 shout shout, let it all out 🎶
Here we go. Nice start. 😁
Couldn’t find any sellers willing to accept that chart😂😂😂🤫
🎶 shout shout, let it all out 🎶
Ok. Just for a moment 🙀
🎶 shout shout, let it all out 🎶
That and the markets are supposed to be due to Powell and slowing down comments. The question as usual - what happens next.
https://www.kitco.com/news/2022-11-30/Powell-on-slowing-down-the-Fed-doesn-t-want-to-overtighten-and-then-cut-rates-too-soon-so-slowing-down-makes-sense.html
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
.
https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
Holy cow
The stock market is up almost 700
It was didling around zero gain or loss. If anything down Wow.
🎶 shout shout, let it all out 🎶
Closing in on $1800. We are back into the coin posting range.
I take full credit for the silver move. I sold off ASEs, 90% and a bunch of Peace and Morgan’s at about $19. Oh well. The proceeds will allow me to post some gold when we break $1800.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I always suspected that someone was in control just surprised that you are guilty 😂✌️
🎶 shout shout, let it all out 🎶
The wait is over 😀. Thanks @pcgscacgold
🎶 shout shout, let it all out 🎶
@Jzyskowski1
And now $1816. Wow, what a move!!!!
Yes, I am the one behind the scenes controlling the silver market
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Pulling back a little. Just saw $1811 on CNBC
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
@ pcgscacgold
Thank you. This brief moment has moved me to tears of joy 😽
🎶 shout shout, let it all out 🎶
$1803 currently, but I don't have a coin for that year.
My YouTube Channel
I can help. This one works for $1802 and $1803 😁
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
An interesting observation about silver that I came across elsewhere.
A silver dime bought a loaf of bread the last year it was minted.
Today, the same dime will buy a loaf of bread once converted to FIAT.
Same with a quarter and a gallon of gas.
Wonder if there is similar comps for gold?
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Nice!
I’m ready now.
My YouTube Channel
VERY NICE!!!!!
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Thanks
My YouTube Channel
GOLD $1,799.59 (+1.24) - Today
As the first week of December progresses gold continues to hover around the $1800 price point. It is anyone's guess if the $1850 gold initially subject of this thread will be seen again before the end of 2022.
$2 loaf of bread?
I think it's just a bit of coincidental cherry picking. Bread went up over the the last 2 years while silver went down.
You can pull up the gold chart in constant dollars. If this thesis were correct, the oeuvre of gold would be constant over time. Hiwever, here's a lot of fluctuation. They don't correlate very well.
Of course you could also argue that the CPI is flawed. But the two sectors that are most volatile are food (bread) and energy (gas).
Yesterday, I had typed out a lengthy response with relevant links twice and both times it went to the blackhole of moderation queue.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
with any lengthy response, you should save it to a txt file or copy it to your clipboard before attempting to submit. The little bug rears its ugly head fairly frequently.
It's not foolproof, but you can minimize the appearance of the bug by removing any active pieces of the post. This can be links or even just names. Especially if you are responding to a post with multiple names in it, it seems to help to trim them down. If you have multiple links yourself, as you mention, it might be better to put them in separate posts.
I usually do that but it was very late in the night and was least expecting the flubbing.
It has happened again now after editing reply for adding a link and the entire post disappeared.
Anyways, it is all fudged and made to seem very blurry for the comprehension of the average Joe who is more interested in his six pack of beer and catching the game on TV.
https://www.zerohedge.com/news/2022-12-07/currencies-continue-drive-macro-factors-global-markets
But truth be told, the following article from across the pond gives me the heebie-jeebies.
https://www.express.co.uk/finance/personalfinance/1706328/Financial-crisis-FX-swap-market-central-bankers-80-trillion-crash-meltdown-BIS
** Edited to add links.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Vulcanize.
Ok. 80 trillion,, no biggie. 🙀
That’s a rather thick read but not bad. Sure hope they are wrong 🤨
🎶 shout shout, let it all out 🎶
Here’s this morning’s smile. For a second 😁
🎶 shout shout, let it all out 🎶
LOL.
There's more sinister stuff lurking that makes the 80 Trillion seem like chump change compared to the $2.5 quadrillion in derivatives held by the banks that may perhaps cause the financial system meltdown first because a repeat of the 2008 "too big to fail" bail outs won't be able to take care of that mess.
Well, with AI making the news lately, perhaps can be used to track and rectify it all.
Source: https://www.usbanklocations.com/bank-rank/derivatives.html
** Edited to add source and picture
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Okay, don't want to derail this thread but am interested in asking as to what the general consensus is, about repercussions on the PM market now that the U.S. federal government's total outstanding debt has reached its $31.4 trillion ceiling (according to the Treasury Department).
https://www.usdebtclock.org/
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Yay I have one for this
Founder- Peak Rarities
Website
Instagram
Facebook
My goodness I’ll say 😳
That’s friggin magnificent 😁
🎶 shout shout, let it all out 🎶
FYI, sold off another lot of silver today. It’s up 30% since last sale. I told the dealer to look for another 30% run.
As mentioned in another thread, the premiums are disappearing.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Yes. Evaporated. The actual market price of silver coins has dropped 20+% in the last 3 weeks. 90% was wholesaling at 22x face and now it's down to 17x. The wholesale price on ASEs has dropped from +$9 to +$4. Gold is less noticeable but Upstate is down to +2% in AGEs and they were at almost +6% a month ago. So while gold has gone up almost 6%, the price is only up 2%.
Exact amounts the dealer quoted to me today when I was selling. The 90% premium evaporated over night.
I am keeping the 90% for now. Just off loaded 5oz pucks and ASE's. They still had premiums and were up $5 an oz from last time.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
The good news is that there should be a more direct connection between spot piece and coin price now. And I never understood why the premium persisted as long as it did. But it is fascinating to me that it looks like silver has been going up when the oeuvre of physical silver coin has been dropping significantly.
Strange times...
So physical silver to gold ratio is 50:1 (or 75:1 without premiums) - comparing just ASE/AGE to spot price and not generics?
Interesting article from last week
https://silverseek.com/article/closer-still-no-cigar
** Edited to add detail
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
GOLD $1,799.59 (+1.24) - Today
As the first week of December progresses gold continues to hover around the $1800 price point. It is anyone's guess if the $1850 gold initially subject of this thread will be seen again before the end of 2022.
GOLD $1,797.75 (+7.97)
And a week later ... again hanging close to the $1800 benchmark.
Well now
Today’s moment in time is one I just love seeing, even for a second. Just looky at silver . $24+ is very nice indeed 👍🏼😀
🎶 shout shout, let it all out 🎶
I know I've said it before, but I would stop using that site. It's designed to make you overpay for bullion. The highest ASK price of the day is only $24.22. They use a future month rather than COMEX to sell their bullion products at a slightly higher number.
My YouTube Channel
My plan is coming together nicely. Sold off some silver, price went up 30%. Sold off some more silver, price is up 5% in a few days. The big question is "what is happening to the premiums".
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Believe it or not, still dropping..Upstate buy on 90% is at NEGATIVE $0.25 from +$9 a month ago and zero last week. AGE buy is down to +1.9% from 2.5% a week ago.
I find it all a little bizarre.