@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
"Paper gold" is an oxymoron.
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
@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
"Paper gold" is an oxymoron.
Then you don't own your house because ownership is represented by a paper deed. You don't own stock because ownership is reoresented by digital stock certificates, etc.
@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
"Paper gold" is an oxymoron.
Then you don't own your house because ownership is represented by a paper deed. You don't own stock because ownership is reoresented by digital stock certificates, etc.
Let's put it another way.
You basically don't own your house as long as there can be a claim against it. Mortgage or taxing authority.
You don't own a claim on a company through stock ownership because you can be forced to tender that ownership or the company can BK you to zero. Try enforcing your ownership if the company demands you sell it. All you will have done is temporarily loaned that company capital so they can operate.
You don't own the 'cash' in the bank because legally the bank owns it. You trust them to keep it secure for your usage.
You do own gold if you bought it legally. Gold has no counterparty risk. That's a quality that some people value in times of uncertainty.
@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
I’m confused. Seriously, how do you paper trade gold if you “had the stuff packed up and ready”? It sounds to me like the gold is physically in your possession and not in a fund or ETF.
@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
I’m confused. Seriously, how do you paper trade gold if you “had the stuff packed up and ready”? It sounds to me like the gold is physically in your possession and not in a fund or ETF.
I was referring to physical gold. If I had paper gold, I could have sold it at $1977 at 6:30 am. I was pointing out that the fact that it was physical gold made it impossible for almost anyone in the US to execute the trade at the peak.
@1northcoin said:
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
"Paper gold" is an oxymoron.
Then you don't own your house because ownership is represented by a paper deed. You don't own stock because ownership is reoresented by digital stock certificates, etc.
Let's put it another way.
You basically don't own your house as long as there can be a claim against it. Mortgage or taxing authority.
You don't own a claim on a company through stock ownership because you can be forced to tender that ownership or the company can BK you to zero. Try enforcing your ownership if the company demands you sell it. All you will have done is temporarily loaned that company capital so they can operate.
You don't own the 'cash' in the bank because legally the bank owns it. You trust them to keep it secure for your usage.
You do own gold if you bought it legally. Gold has no counterparty risk. That's a quality that some people value in times of uncertainty.
Yes and no. Yes, you can roll naked in your pile of gold. But, no, it doesn't have some kind of USEFUL intrinsic value.
Gold does you no good if you can't exchange it for something that is actually useful. So, in that sense there is a risk in holding it. You need to find a trading partner, possibly two. If the farmer doesn't want your useless gold for his useful food, you need to find someone who will give you something the farmer wants in exchange for your gold. Virtually all gold monetary use in the last hundred years has required conversion to cash as an intermediary. So, you are kind of in the same bind as anyone holding paper or digital assets. You still need a marketplace that is capable and willing to facilitate exchanges.
JM
We think differently. If it got down to me trading Saints for food, things would have to be very bad. Even at that point, gold is not in my trading acct. Farmer John will be ringing me up to supply him with the ability to protect his crop and livestock. I sell ammo and guns. But thanks for your advice.
@streeter said:
JM
We think differently. If it got down to me trading Saints for food, things would have to be very bad. Even at that point, gold is not in my trading acct. Farmer John will be ringing me up to supply him with the ability to protect his crop and livestock. I sell ammo and guns. But thanks for your advice.
Oh, I think we actually kind of agree. I don't believe in gold as Armageddon insurance. Canned goods and bullets are all that really matter when things really go south. Gold will only be useful to throw at the marauders when you run out of bullets.
Short of that, I rely on a functioning social order and financial system.
@jmlanzaf said:
I find it a bit disturbing to be cheering the war premium.
Have to question what, if any, pressure can be attributed to Russian Oligarchs turning their rubles into gold?
Of course many already had their investments outside of Russia. When I was in Russia a few years ago there were many even then disparaging the Russian elite for having their money elsewhere and not supporting their own economy.
They can trade rubles for gold until the Russian Central Bank has to cash in gold to prop up their economy. I recall something like this happening in the 1980s when gold was ~$300/oz...
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
@lkenefic said:
They can trade rubles for gold until the Russian Central Bank has to cash in gold to prop up their economy. I recall something like this happening in the 1980s when gold was ~$300/oz...
I recall visiting a family in Russia who had their entire savings wiped out when the ruble crashed. It is economic disaster for many again unfortunately.
@jmlanzaf said:
Vast majority of Palladium comes from Russia. No big surprise.
Physical palladium for new cat converters is going to be very hard to obtain at any price if the situation and sanctions continue.
Expect new car prices to go way up even more, as nickel for EV batteries and palladium is needed for even hybrid electric vehicles. The huge Norilsk Mine in Russia, produces 14% of nickel in the world, 41% of the palladium, and 10% of the platinum. They might only be able to sell to China soon, not the West. An average electric vehicle battery has 80 pounds of nickel.
Even a Jefferson nickel (75% copper, 25% nickel) is worth about 7.6 cents at melt now.
@jmlanzaf said:
Vast majority of Palladium comes from Russia. No big surprise.
Physical palladium for new cat converters is going to be very hard to obtain at any price if the situation and sanctions continue.
Expect new car prices to go way up even more, as nickel for EV batteries and palladium is needed for even hybrid electric vehicles. The huge Norilsk Mine in Russia, produces 14% of nickel in the world, 41% of the palladium, and 10% of the platinum. They might only be able to sell to China soon, not the West. An average electric vehicle battery has 80 pounds of nickel.
Even a Jefferson nickel (75% copper, 25% nickel) is worth about 7.6 cents at melt now.
Now that would really be making a statement. Stop buying electric cars.
Bullion Exchange.com . NY . It’s their take on the market. I use it because it’s very easy to see and simple to use. I’m not in need of exact prices but I’m certain that is close 😉
@Jzyskowski1 said:
Bullion Exchange.com . NY . It’s their take on the market. I use it because it’s very easy to see and simple to use. I’m not in need of exact prices but I’m certain that is close 😉
It was like 25 cents high on silver and $10 high on gold. I guess that's "close". But kitco.com is just as easy to use and more accurate.
The all-time high is $2,067 for gold during the week or two spike around August 2020. If the current price and demand keep going up, we won't be able to post coins with dates to match the price.
Also noted the US Mint has sold out of all palladium coins on their website.
@Goldminers said:
The all-time high is $2,067 for gold during the week or two spike around August 2020. If the current price and demand keep going up, we won't be able to post coins with dates to match the price.
Also noted the US Mint has sold out of all palladium coins on their website.
Recall for how long Gold hovered near that number back in 2020 or was it a flash in the pan - to use a gold inspired axiom.
Yea, Lunar Gold, as noted above repeats every 12 years, 1998 was first in Australian Series.
I started collecting the series around 2000 for the Dragon. Now for 2010:
Comments
Curious how many were actually able to take advantage of the earlier in the day highs through selling?
I could have. I actually had the stuff packed up and ready. But I had drawn a firm line at 1970 when I sold 40% of my gold at 1900 last week. When it dropped back to 1950 yesterday, I decided to hold off for now.
That is, by the way, the advantage of trading paper gold. You can do it 24 hours per day during the week and a click of a mouse would have executed the sale.
"Paper gold" is an oxymoron.
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
Then you don't own your house because ownership is represented by a paper deed. You don't own stock because ownership is reoresented by digital stock certificates, etc.
Let's put it another way.
You basically don't own your house as long as there can be a claim against it. Mortgage or taxing authority.
You don't own a claim on a company through stock ownership because you can be forced to tender that ownership or the company can BK you to zero. Try enforcing your ownership if the company demands you sell it. All you will have done is temporarily loaned that company capital so they can operate.
You don't own the 'cash' in the bank because legally the bank owns it. You trust them to keep it secure for your usage.
You do own gold if you bought it legally. Gold has no counterparty risk. That's a quality that some people value in times of uncertainty.
$1943
Unfortunately > @jmlanzaf said:
I’m confused. Seriously, how do you paper trade gold if you “had the stuff packed up and ready”? It sounds to me like the gold is physically in your possession and not in a fund or ETF.
Back down to 1888 right now...
TurtleCat Gold Dollars
I was referring to physical gold. If I had paper gold, I could have sold it at $1977 at 6:30 am. I was pointing out that the fact that it was physical gold made it impossible for almost anyone in the US to execute the trade at the peak.
Yes and no. Yes, you can roll naked in your pile of gold. But, no, it doesn't have some kind of USEFUL intrinsic value.
Gold does you no good if you can't exchange it for something that is actually useful. So, in that sense there is a risk in holding it. You need to find a trading partner, possibly two. If the farmer doesn't want your useless gold for his useful food, you need to find someone who will give you something the farmer wants in exchange for your gold. Virtually all gold monetary use in the last hundred years has required conversion to cash as an intermediary. So, you are kind of in the same bind as anyone holding paper or digital assets. You still need a marketplace that is capable and willing to facilitate exchanges.
JM
We think differently. If it got down to me trading Saints for food, things would have to be very bad. Even at that point, gold is not in my trading acct. Farmer John will be ringing me up to supply him with the ability to protect his crop and livestock. I sell ammo and guns. But thanks for your advice.
Oh, I think we actually kind of agree. I don't believe in gold as Armageddon insurance. Canned goods and bullets are all that really matter when things really go south. Gold will only be useful to throw at the marauders when you run out of bullets.
Short of that, I rely on a functioning social order and financial system.
Closed today at $1889
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
WOW!!! I really like that one.
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 $1,909.94 (+20.25)
Once again heading back up past the $1900 threshold.
Volatile week ahead?
GOLD $1,935.64 (+26.09)
A significant uptick.
Looking at $1943.10...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I find it a bit disturbing to be cheering the war premium.
Try not to be so hard on yourself.
OK, continuing the climb:
GOLD $1,948.34 (+38.79)
Have to question what, if any, pressure can be attributed to Russian Oligarchs turning their rubles into gold?
Of course many already had their investments outside of Russia. When I was in Russia a few years ago there were many even then disparaging the Russian elite for having their money elsewhere and not supporting their own economy.
They can trade rubles for gold until the Russian Central Bank has to cash in gold to prop up their economy. I recall something like this happening in the 1980s when gold was ~$300/oz...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I recall visiting a family in Russia who had their entire savings wiped out when the ruble crashed. It is economic disaster for many again unfortunately.
🎶 shout shout, let it all out 🎶
And now it drops. I enjoy watching the changes except in a case like this where humanity or lack of it is driving the move.
Sad moments in time 🤨
🎶 shout shout, let it all out 🎶
Taking another run at $2000. Sitting at $1966 now.
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 $1,963.59 (+26.71)
It will be interesting to see how long $1950 will be the new benchmark.
😳😳
🎶 shout shout, let it all out 🎶
Vast majority of Palladium comes from Russia. No big surprise.
Physical palladium for new cat converters is going to be very hard to obtain at any price if the situation and sanctions continue.
Expect new car prices to go way up even more, as nickel for EV batteries and palladium is needed for even hybrid electric vehicles. The huge Norilsk Mine in Russia, produces 14% of nickel in the world, 41% of the palladium, and 10% of the platinum. They might only be able to sell to China soon, not the West. An average electric vehicle battery has 80 pounds of nickel.
Even a Jefferson nickel (75% copper, 25% nickel) is worth about 7.6 cents at melt now.
My US Mint Commemorative Medal Set
GOLD $1,971.49 (+34.61)
Stuck here for the weekend. A new normal?
Now that would really be making a statement. Stop buying electric cars.
🎶 shout shout, let it all out 🎶
That site is not quoting the normal spot price. What are they quoting?
As of the time of this post APMEX has gold at $2000.60 per oz. Golden Eagle has it at $1998 an oz.
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
Bullion Exchange.com . NY . It’s their take on the market. I use it because it’s very easy to see and simple to use. I’m not in need of exact prices but I’m certain that is close 😉
🎶 shout shout, let it all out 🎶
It was like 25 cents high on silver and $10 high on gold. I guess that's "close". But kitco.com is just as easy to use and more accurate.
No their following current trading
At least it’s moving so I would guess it is current.
🎶 shout shout, let it all out 🎶
Price 5:23 PM PST
Dow futures down 420
Nasdaq (IXIC) futures down 258
Don’t underestimate the PPT.
GOLD $1,990.90 (+19.41)
Looking back to May of 2021 with gold at 1850. Looks like we may need to start pulling out those 2000 and above gold pieces for posting.
Looking back:
As the weekend comes to a close.> @1northcoin said:
Looks like the move continues. Hit $2006 this morning.
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
$3300 palladium. Reporting on facts is not being cruel. I don’t see anyone cheering for Putin. It’s a dang crime. The price is what it is.
🎶 shout shout, let it all out 🎶
The all-time high is $2,067 for gold during the week or two spike around August 2020. If the current price and demand keep going up, we won't be able to post coins with dates to match the price.
Also noted the US Mint has sold out of all palladium coins on their website.
My US Mint Commemorative Medal Set
Recall for how long Gold hovered near that number back in 2020 or was it a flash in the pan - to use a gold inspired axiom.
Tigger!
Nice. Apparently 1998 was also "The Year of the Tiger?"
Yes. It come back by 12. So 1998 + 12 is 2010 + 12 is 2022.
FWIW I see th price of gold is at $2007 early this morning.
Now showing $2013 at this time. I can't post an image until we hit $2022. Waiting patiently.......
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
Yea, Lunar Gold, as noted above repeats every 12 years, 1998 was first in Australian Series.
I started collecting the series around 2000 for the Dragon. Now for 2010: