̶$̶2̶0̶ ̶$̶3̶0̶$̶4̶0̶ ̶$̶5̶0̶ ̶$̶4̶0̶ ̶$̶3̶0̶ ̶$̶2̶5 $33 Gutter Metal?
blitzdude
Posts: 5,886 ✭✭✭✭✭
Looks like it's not out of the question. THKS!
0
blitzdude
Posts: 5,886 ✭✭✭✭✭
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That many strikethroughs and for a second I thought I was on the US coin forum!
It's all about what the people want...
Don't know if it will get that low... but probably going to drop some more.
Very unlikely that it will get that low. $17.75 would be my guess.
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.
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.
Speaking of gutter: a lot of minds ended up there in the past two years.
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
You may want to revise your heading to $25.00
Make it $30
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Gotta think bigger....
https://forums.collectors.com/discussion/1052200/250-silver-by-end-of-2021-and-why-ill-be-right-again#Comment_12847823
Knowledge is the enemy of fear
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.
Knowledge is the enemy of fear
maybe because it is getting "pulled" lower?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"They" would make a lot more $$$$ pushing it higher than they would pulling it lower. Perhaps too much time at Conspiracy Hedge. THKS!
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
wrong,
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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."
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
As you well know JPM has been fined numerous times for manipulating precious metals futures prices. And they are going to suddenly stop? LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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!
I did join 'em and I did beat 'em. LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
OMG here we go #WINNING! So sad. CNGTS!
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
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
$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!
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!
Tracking every one dollar move in a volatile market like silver doesn't seem like a real effective strategy to me.
I knew it would happen.
Nore does hoarding a "commodity" that can't even keep up with the phantom inflation. LOL
Nore does hoarding a "commodity" that can't even keep up with the phantom inflation. LOL
Then why are you holding onto physical metal?
I knew it would happen.
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.
Phantom Inflation. Now there's a real conspiracy theory. LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Because, just like Pokemon, I Gotta Catch 'Em All! Well, FDR dimes, GW quarters, silver eagles and silver maples anyway...
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 37,38,47,151,193,241,435,570,610,654,655 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
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.
With all of the ridiculous premiums on the bullion lately, I’m just sticking with numismatic. A bit more fun, too.
My YouTube Channel
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.
My YouTube Channel
They will drift back to normal, funny how things always seem to end up "correcting" themselves.
Very true.
My YouTube Channel
Like wages, dollar purchasing power and the national debt? LOL
Paradigm shifts are not temporary.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Congressman demands answers from US Mint/Treasury Dept. on ASE program problems.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
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!
well, you did say "things always end up correcting themselves." LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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 ?
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.
Knowledge is the enemy of fear
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.
Ever visit the smelter? I mean you of all people should know this. lol