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̶$̶2̶0̶ ̶$̶3̶0̶$̶4̶0̶ ̶$̶5̶0̶ ̶$̶4̶0̶ ̶$̶3̶0̶ ̶$̶2̶5 $20 Gutter Metal?

blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭
edited December 21, 2023 4:04PM in Precious Metals

Looks like it's not out of the question. THKS!

The whole worlds off its rocker, buy Gold™.

«1345

Comments

  • LukeMarshallLukeMarshall Posts: 1,881 ✭✭✭✭✭

    That many strikethroughs and for a second I thought I was on the US coin forum!

    It's all about what the people want...

  • tincuptincup Posts: 4,721 ✭✭✭✭✭

    Don't know if it will get that low... but probably going to drop some more.

    ----- kj
  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    Very unlikely that it will get that low. $17.75 would be my guess.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,757 ✭✭✭✭✭
    edited July 17, 2022 6:36PM

    I moved my shop in March of 2020. I wanted to shut it down, but wife insisted I keep working. Sigh.
    During my grand reopening , silver was at $13. I listed silver eagles for $20.20. for walk in customers. Sold fewer than 5 that year. Was buying silver rounds @$17 then ....and giving away the eagles. The year premiums started rising.
    So, from my experience....it seems now, if it went to $10, the general public still won't see value.
    Once Uncle Sam squeezed it out of coinage and pushed paper, while dumping clad (fiat) on us, Americans have been dumbed down. 60 years now. It's working, huh ?
    Strangely, people will pay $80 per ounce , to the mint. And $2600 per oz. of gold.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    Circa 2015 when gutter was around $15ozt I was buying eagles by the rolls in the $16-$17ozt range. In August 2019 gutter was around $17 and rolls were still available everywhere for sub $20ozt. It's all relative.

    There is no dispute that premiums are at historic highs, but they will evaporate again (just like always). No offense but selling 5 eagles a year at a 55%+ premium doesn't make a lot of business sense. Looking forward to the day of sub $7,500 green boxes. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,757 ✭✭✭✭✭
    edited July 17, 2022 6:51PM

    @blitzdude said:
    Circa 2015 when gutter was around $15ozt I was buying eagles by the rolls in the $16-$17ozt range. In August 2019 gutter was around $17 and rolls were still available everywhere for sub $20ozt. It's all relative.

    There is no dispute that premiums are at historic highs, but they will evaporate again (just like always). No offense but selling 5 eagles a year at a 55%+ premium doesn't make a lot of business sense. Looking forward to the day of sub $7,500 green boxes. RGDS!

    No offense taken.
    I don't recall ever being able to buy eagles for $1 or $2 over spot, except for an occasional walk in. Not sure where you get a 55%+ premium.
    Silver at 13. I buy it for $5.25 over spot plus shipping. $18.25 per ounce. Ten percent is $1.82+ $18.25.

    It was an introductory (2020) offer that few capitalized on during one of the weirdest times in my 67 years on earth. Speaking of gutter: a lot of minds ended up there in the past two years.
    Regards.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    Speaking of gutter: a lot of minds ended up there in the past two years.

    Regards.

    True that.....It's been a terrible last 5 years. Today I couldn't find anything on planet earth not in the green.....well except the gutter metal. lol

    The whole worlds off its rocker, buy Gold™.

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    You may want to revise your heading to $25.00 B)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @OPA said:
    You may want to revise your heading to $25.00 B)

    Make it $30 B)B)

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    Yup...what ever happened to: Azurescens, after he made that ridiculous prediction?

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭
    edited July 30, 2022 6:20AM

    @OPA said:

    Yup...what ever happened to: Azurescens, after he made that ridiculous prediction?

    Kids, dont do drugs.

    Silver is such a tiny market, it's amazing why "they" cant push it higher. I mean, they pushed "tokens" to crazy valuations. Why no sustained or increasing demand for silver. We would all like to see it break $50, but almost 2 generations later, it still languishes.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @cohodk said:

    Silver is such a tiny market, it's amazing why "they" cant push it higher.

    maybe because it is getting "pulled" lower?

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    Silver is such a tiny market, it's amazing why "they" cant push it higher.

    maybe because it is getting "pulled" lower?

    "They" would make a lot more $$$$ pushing it higher than they would pulling it lower. Perhaps too much time at Conspiracy Hedge. THKS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @blitzdude said:

    "They" would make a lot more $$$$ pushing it higher than they would pulling it lower.

    And they eventually will. For now they are still stockpiling physical silver and at the same time making massive profits on the ups and downs that they control in the futures market.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:

    "They" would make a lot more $$$$ pushing it higher than they would pulling it lower.

    And they eventually will. For now they are still stockpiling physical silver and at the same time making massive profits on the ups and downs that they control in the futures market.

    Do you actually believe all the b.s. that you've been peddling on this forum regarding so called "manipulations" for the last 10+ years? If you do, it's time for a long vacation.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,016 ✭✭✭✭✭
    edited July 30, 2022 3:52PM

    I believe Reuters, apparently you do not. LOL

    "JPMorgan to pay $920 million for manipulating precious metals, treasury market"

    I believe Bloomberg, apparently you do not. LOL

    "JPMorgan’s ‘Big Hitters’ of Gold Market Face Trial Over Spoofing"

    I even believe CNBC, apparently you do not. LOL

    "J.P. Morgan settles lawsuit that accused firm of ‘spoofing’ precious metals markets trades"

    And if you can't believe the facts second or third hand, try believing it strait from the horse's mouth.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    Yup..Old history. Most of the spoofing occurred more than 10 years ago, with nothing in the last 6 years. It had only minor daily affect on the PM market.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,016 ✭✭✭✭✭
    edited July 30, 2022 6:10PM

    @OPA said:
    Yup..Old history. Most of the spoofing occurred more than 10 years ago, with nothing in the last 6 years.

    wrong,

    It had only minor daily affect on the PM market.

    and you base this claim on exactly what? LOL
    If I spoof prices lower, then buy, then let the market drive them higher, then sell and follow with a wash, rinse, repeat action DAILY, I can make a lot of profit. The result is a futures prices that hovers where ever I want it to. Even worse, the long term affect is a grossly mis-stated price.

    Face it, often times conspiracy theory becomes conspiracy fact.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • OPAOPA Posts: 17,103 ✭✭✭✭✭
    edited July 30, 2022 6:47PM

    As I mentioned before.....old news....indictments are for manipulating prices from 2008 to 2016. It took the Govt 6 years to finally bring the parties to trial. Don't forget, silver & gold hit an all time high during the alleged manipulation time span.. I suppose, we could use some more "manipulation." ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,016 ✭✭✭✭✭
    edited July 31, 2022 5:54AM

    @OPA said:
    I suppose, we could use some more "manipulation." ;)

    Better yet, let's just call it what it is - bullion bank profit taking.

    JPMorgan dominates gold market with record $1 billion precious metals revenue

    Makes that $920 million fine for manipulation look like peanuts. No wonder they keep breaking the law and accepting the penalties. LOL

    @OPA said:
    As I mentioned before.....old news....indictments are for manipulating prices from 2008 to 2016.

    As you well know JPM has been fined numerous times for manipulating precious metals futures prices. And they are going to suddenly stop? LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    Perhaps you would have been better off purchasing JPM stock rather than hoarding the very gutter that JPM "manipulates" lower. If you can't beat 'em join 'em they say. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    I did join 'em and I did beat 'em. LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    OMG here we go #WINNING! So sad. CNGTS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    JPMorgan’s Gold Secrets Spill Out in Court

    "in 2020, JPMorgan made $1 billion in precious metals as the pandemic created unprecedented arbitrage opportunities"

    yep, bullion banking is small potatoes. LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭
    edited August 8, 2022 4:25PM

    $22? Gutter up big on the Inflation Reduction Act. $22 Perhaps? A revisit of June 2022?? Or maybe even August 2013??HLLLJH!!

    PS: JPM can't stop us now. LULZ!

    The whole worlds off its rocker, buy Gold™.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    So much for a green run to $22, looks like gutter is in a fight to hold $20. Looking like 2040 could be the year. THKS!

    The whole worlds off its rocker, buy Gold™.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Tracking every one dollar move in a volatile market like silver doesn't seem like a real effective strategy to me.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @jmski52 said:
    Tracking every one dollar move in a volatile market like silver doesn't seem like a real effective strategy to me.

    Nore does hoarding a "commodity" that can't even keep up with the phantom inflation. LOL

    The whole worlds off its rocker, buy Gold™.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Nore does hoarding a "commodity" that can't even keep up with the phantom inflation. LOL

    Then why are you holding onto physical metal?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,757 ✭✭✭✭✭

    The lower it is , the sooner one ought to dip their toe. That's an entry point. And who knows where the bottom is, likely knows why we are here.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @blitzdude said:

    @jmski52 said:
    Tracking every one dollar move in a volatile market like silver doesn't seem like a real effective strategy to me.

    Nore does hoarding a "commodity" that can't even keep up with the phantom inflation. LOL

    Phantom Inflation. Now there's a real conspiracy theory. LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • EstilEstil Posts: 6,844 ✭✭✭✭

    @jmski52 said:
    Nore does hoarding a "commodity" that can't even keep up with the phantom inflation. LOL

    Then why are you holding onto physical metal?

    Because, just like Pokemon, I Gotta Catch 'Em All! Well, FDR dimes, GW quarters, silver eagles and silver maples anyway...

    WISHLIST
    Dimes: 54S, 53P, 50P+S, 49S, 45D+S, 44S, 43D, 41S, 40D+S, 39D+S, 38D+S, 37D+S, 36S, 35D+S, all 16-34's
    Quarters: 61D, 52S, 47S, 46S, 40S, 39S, 38S, 37D+S, 36D+S, 35D, 34D, 32D+S
    74 Topps: 37,38,46,47,48,138,151,193,210,214,223,241,256,264,268,277,289,316,435,552,570,577,592,602,610,654,655
    1997 Finest silver: 115, 135, 139, 145, 310
    1995 Ultra Gold Medallion Sets: Golden Prospects, HR Kings, On-Base Leaders, Power Plus, RBI Kings, Rising Stars
  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    blitzdude

    Time to revise your heading to $20.00. AGAIN

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @OPA said:
    blitzdude

    Time to revise your heading to $20.00. AGAIN

    I was thinking probably more like $15. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    @blitzdude said:

    @OPA said:
    blitzdude

    Time to revise your heading to $20.00. AGAIN

    I was thinking probably more like $15. RGDS!

    Either one is more realistic than the current one.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ashelandasheland Posts: 22,561 ✭✭✭✭✭

    With all of the ridiculous premiums on the bullion lately, I’m just sticking with numismatic. A bit more fun, too.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @asheland said:
    With all of the ridiculous premiums on the bullion lately, I’m just sticking with numismatic. A bit more fun, too.

    I miss the days when you could get slabbed Double Eagles, $10 Indians and Libs for spot or under (ebay bux etc.). Even common date still very numismatic imo but purchased for the price of the metal. I'm not buying much now, thought maybe I should continue working on my Morgan and Peace sets but currently overpriced as well.

    The whole worlds off its rocker, buy Gold™.

  • ashelandasheland Posts: 22,561 ✭✭✭✭✭

    @blitzdude said:

    @asheland said:
    With all of the ridiculous premiums on the bullion lately, I’m just sticking with numismatic. A bit more fun, too.

    I miss the days when you could get slabbed Double Eagles, $10 Indians and Libs for spot or under (ebay bux etc.). Even common date still very numismatic imo but purchased for the price of the metal. I'm not buying much now, thought maybe I should continue working on my Morgan and Peace sets but currently overpriced as well.

    Indeed a lot of the popular series, (Morgan, Peace) are kinda high, but I still prefer them to bullion currently.

    I do remember, and miss those days where the premiums were lower on the bullion and collector coins.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @asheland said:

    @blitzdude said:

    @asheland said:
    With all of the ridiculous premiums on the bullion lately, I’m just sticking with numismatic. A bit more fun, too.

    I miss the days when you could get slabbed Double Eagles, $10 Indians and Libs for spot or under (ebay bux etc.). Even common date still very numismatic imo but purchased for the price of the metal. I'm not buying much now, thought maybe I should continue working on my Morgan and Peace sets but currently overpriced as well.

    Indeed a lot of the popular series, (Morgan, Peace) are kinda high, but I still prefer them to bullion currently.

    I do remember, and miss those days where the premiums were lower on the bullion and collector coins.

    They will drift back to normal, funny how things always seem to end up "correcting" themselves.

    The whole worlds off its rocker, buy Gold™.

  • ashelandasheland Posts: 22,561 ✭✭✭✭✭

    Very true.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    @blitzdude said:

    They will drift back to normal, funny how things always seem to end up "correcting" themselves.

    Like wages, dollar purchasing power and the national debt? LOL

    Paradigm shifts are not temporary.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • Mike59Mike59 Posts: 294 ✭✭✭

    Thanks for posting. Amazing how much Government can mess-up an agency. If it was a private company we have enough ASE for worldwide demand
    Mike

    MIKE B.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @derryb said:

    @blitzdude said:

    They will drift back to normal, funny how things always seem to end up "correcting" themselves.

    Like wages, dollar purchasing power and the national debt? LOL

    Paradigm shifts are not temporary.

    Wages, dollar, national debt? These things have absolutely nothing to do with the price of gutter metal. 99.9% of the world could care less about the price of gutter or it's premiums. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,016 ✭✭✭✭✭

    well, you did say "things always end up correcting themselves." LOL

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • dcarrdcarr Posts: 7,884 ✭✭✭✭✭

    @blitzdude said:

    @derryb said:

    @blitzdude said:

    They will drift back to normal, funny how things always seem to end up "correcting" themselves.

    Like wages, dollar purchasing power and the national debt? LOL

    Paradigm shifts are not temporary.

    Wages, dollar, national debt? These things have absolutely nothing to do with the price of gutter metal. 99.9% of the world could care less about the price of gutter or it's premiums. RGDS!

    99.9% ?
    Where did you get that figure ?

    China and India have, at present, about 17% of the total world population each. So together they comprise more than 1/3 of the total world population. Do you know what they all think about silver ? Traditionally, India, and especially China, have a general interest in silver.

    If your "99.9%" figure was correct, then only 0.1% of the world population cares what the price of silver is.
    That would seem like a terrific contrarian indicator to me. If only 0.1% of the world population bought silver, the price would double.

    PS:
    If 99.9% of Americans could "care less" about silver, then why aren't there a lot more of the older silver coins in circulation ?

  • cohodkcohodk Posts: 18,493 ✭✭✭✭✭

    @dcarr said:
    PS:
    If 99.9% of Americans could "care less" about silver, then why aren't there a lot more of the older silver coins in circulation ?

    Because the 300,000 who care have had 58 years to pull them from circulation.

    PS....99.9% probably could care less but 99.9% of them couldnt care less.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • dcarrdcarr Posts: 7,884 ✭✭✭✭✭

    @cohodk said:

    @dcarr said:
    PS:
    If 99.9% of Americans could "care less" about silver, then why aren't there a lot more of the older silver coins in circulation ?

    Because the 300,000 who care have had 58 years to pull them from circulation.

    PS....99.9% probably could care less but 99.9% of them couldnt care less.

    What about the (I presume) millions of people who have inherited silver coins and did not put them back into circulation ?
    In other words, once silver coins are taken out of circulation, they tend to stay out of circulation, even when transferred to people who never had any before.

    If I didn't know anything about silver, and I was given a bunch of silver coins, I think I would begin to care what the silver price is.

  • blitzdudeblitzdude Posts: 5,282 ✭✭✭✭✭

    @dcarr said:
    PS:
    If 99.9% of Americans could "care less" about silver, then why aren't there a lot more of the older silver coins in circulation ?

    Ever visit the smelter? I mean you of all people should know this. lol

    The whole worlds off its rocker, buy Gold™.

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