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Metals are WAY DOWN today!

RussRuss Posts: 48,514 ✭✭✭
in U.S. Coin Forum
Okay, all you world series participants need to dump your $100 platinum bullion! Quick!

Russ, NCNE
eBay consignment sales | | Collectibles from Resco CCC

Comments

  • ABC123ABC123 Posts: 2,627
    Relax---Today isn't over !
  • mgoodm3mgoodm3 Posts: 17,497 ✭✭✭


    << <i>Relax---Today isn't over ! >>



    Yeah, it could go lower.
    coinimaging.com/my photography articles Check out the new macro lens testing section
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Yummy!


    Saul Goode
  • LongacreLongacre Posts: 16,717 ✭✭✭
    It's in a free fall. What is going on?
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • messydeskmessydesk Posts: 20,019 ✭✭✭✭✭
    Regarding bullion in the World Series, two questions come to mind:

    1. How often does PCGS update the values of bullion coins?
    2. When you trade, is the price of your trade the instantaneous price or the "end of day" price?

    If the BV coins are updated at predictable times, it would be trivial to make money by going 100% into metals right before they're adjusted upward, and protect your money by going all into non-bullion-sensitive stuff right before a downward adjustment. It wouldn't necessarily be in the best spirit of the contest, but with $10000 on the line, that doesn't necessarily matter.
    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • CC2GOCC2GO Posts: 664
    Gee Russ! ....I was led to believe that who owned the most Saints would win the Series! image
  • ewitteewitte Posts: 178


    << <i>Regarding bullion in the World Series, two questions come to mind:

    1. How often does PCGS update the values of bullion coins?
    2. When you trade, is the price of your trade the instantaneous price or the "end of day" price?

    If the BV coins are updated at predictable times, it would be trivial to make money by going 100% into metals right before they're adjusted upward, and protect your money by going all into non-bullion-sensitive stuff right before a downward adjustment. It wouldn't necessarily be in the best spirit of the contest, but with $10000 on the line, that doesn't necessarily matter. >>



    It should not matter too much since BU coins in PCGS slabs are usually a good % higher over metal prices. Plus the price there is just what the current going rate is for that item.
  • HonoluluDudeHonoluluDude Posts: 2,167 ✭


    << <i>It's in a free fall. What is going on? >>



    Gold and silver usually have one or two violent correction periods per year.
    This is one of them.

    BUY THE DIP!
  • MadMartyMadMarty Posts: 16,697 ✭✭✭


    << <i>Okay, all you world series participants need to dump your $100 platinum bullion! Quick!

    Russ, NCNE >>



    People acutally use Bullion in the WS?
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • cladkingcladking Posts: 28,689 ✭✭✭✭✭
    The central banks and the shorts aren't going to just give up. There are lots of good reasons
    to be long in lots of markets and so long as this is true then they'll be in there trying to get the
    markets to advantageous positions. By the same token though, there are a lot of people who
    see inflation and more coming so they are going to continue to buy. This battle will go on for a
    long time. Look for a leveling off in prices at some level over $500 with volatility before the bull
    market resumes.
    Tempus fugit.
  • rgl1345rgl1345 Posts: 674


    << <i>It's in a free fall. What is going on? >>



    The sky is falling...the sky is falling...
    Just ask Legend image
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Where is the arghhh icon?

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

  • LongacreLongacre Posts: 16,717 ✭✭✭
    I don't even want to calculate the scratch that I lost today.
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • coinman420coinman420 Posts: 4,666 ✭
    ok people... its all my fault. last week i bought a 1/2 oz plat. its a given... if i buy something the value ALWAYS drops image
    my ebay items BST transactions/swaps/giveaways with: Tiny, raycyca,mrpaseo, Dollar2007,Whatafind, Boom, packers88, DBSTrader2, 19Lyds, Mar327, pontiacinf, ElmerFusterpuck.
  • BearBear Posts: 18,953 ✭✭✭
    Legend sure called an appropriate warning

    on this correction. It may well continue down

    to level off at 540 for gold, 1060 for platinum

    and as for silver 10. 25 /oz
    There once was a place called
    Camelotimage
  • BearBear Posts: 18,953 ✭✭✭
    Geewhiz Coinman, please give us fair warning

    that you are buying so that we can all get out in time.image
    There once was a place called
    Camelotimage
  • RussRuss Posts: 48,514 ✭✭✭
    Well, I'm now all cash at $1,214,745. What to buy? image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • BochimanBochiman Posts: 25,420 ✭✭✭✭✭


    << <i>Well, I'm now all cash at $1,214,745. What to buy? image

    Russ, NCNE >>



    Bags if the 2005 Ocean in View nickels....I heard they were RARE!!!

    image

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • ledzep87ledzep87 Posts: 1,108 ✭✭✭


    << <i>ok people... its all my fault. last week i bought a 1/2 oz plat. its a given... if i buy something the value ALWAYS drops >>



    Hey coinman420, can you go ahead and buy two more ounces of platinum? Just imagine how low the prices would be then!?!
    Great transaction with: Relaxn, Collectorcoins, OKCC
  • BochimanBochiman Posts: 25,420 ✭✭✭✭✭


    << <i>

    << <i>ok people... its all my fault. last week i bought a 1/2 oz plat. its a given... if i buy something the value ALWAYS drops >>



    Hey coinman420, can you go ahead and buy two more ounces of platinum? Just imagine how low the prices would be then!?! >>



    Nah....buy a few ounces of gold! I need it to go down quite a bit image

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • ledzep87ledzep87 Posts: 1,108 ✭✭✭
    Bochiman, when you are right, you are WAAAY right!
    Great transaction with: Relaxn, Collectorcoins, OKCC
  • pontiacinfpontiacinf Posts: 8,915 ✭✭


    << <i>

    << <i>Well, I'm now all cash at $1,214,745. What to buy? image

    Russ, NCNE >>



    Bags if the 2005 Ocean in View nickels....I heard they were RARE!!!

    image >>



    imageimageimageimage thats funny
    image

    Go BIG or GO HOME. ©Bill
  • coinman420coinman420 Posts: 4,666 ✭


    << <i>Geewhiz Coinman, please give us fair warning

    that you are buying so that we can all get out in time.image >>





    lol, next time i`ll post what i`m gonna buy so everybody can sell first. image
    my ebay items BST transactions/swaps/giveaways with: Tiny, raycyca,mrpaseo, Dollar2007,Whatafind, Boom, packers88, DBSTrader2, 19Lyds, Mar327, pontiacinf, ElmerFusterpuck.
  • rb345rb345 Posts: 64 ✭
    Silver closed down 3.5 cents today on bulliondirect.com. I'd hate to see your characterization of a 10 cent drop.l
  • gyocomgdgyocomgd Posts: 2,582 ✭✭✭


    << <i>Well, I'm now all cash at $1,214,745. What to buy? image

    Russ, NCNE >>



    Buy me a house, stingy.
    image
  • JdurgJdurg Posts: 997 ✭


    << <i>ok people... its all my fault. last week i bought a 1/2 oz plat. its a given... if i buy something the value ALWAYS drops image >>



    Yeah, this is puzzling. Typically when I buy a precious metal it jumps up in price shortly thereafter. I bought an ounce of gold at $530 in December. I bought an ounce of palladium at about $230 sometime last year. I bought a 1/3rd ounce of Rhodium for $200 a few years ago. The only one I had never bought a large amount of was platinum. Last week I bought a one ounce platinum maple leaf, and now platinum is plummeting. Must be the reason. image
    I collect the elements on the periodic table, and some coins. I have a complete Roosevelt set, and am putting together a set of coins from 1880.
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>and now platinum is plummeting. Must be the reason. >>



    It's profit taking in the PCGS World Series.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • lloydmincylloydmincy Posts: 1,861 ✭
    <<Gold and silver usually have one or two violent correction periods per year.>>

    A) This is not a correction

    B) It is not violent. 30% would be violent. Speculators are selling their contracts. That's all....
    The Accumulator - Dark Lloyd of the Sith

    image
  • 7over87over8 Posts: 4,733 ✭✭✭
    Whoever thinks that gold and silver have seen the top are absolutely wrong.

    All the dynamics for price appreciation are still in place -

    1) Inflationary tendencies.....
    2) Weak USD

    What we are experiencing is speculators selling as they are "spooked" by the Wall Street Talking Heads, the FED (another band of BS'ers) and others talking about inflation "under control" and "commodities have seen thier tops".

    Let's see...hmmmm....what are the latest numbers for monetary growth...the M3...oh, I forgot - that's not useful info...not published anymore. Could it be 8-10% annually? Could it be more?

    The FED will soon have to make a choice, raise rates to try to contain inflation and break the housing bubble - sending the economy downwards, or, let the USD freefall.

    Either way, Gold and Silver will see levels never seen before. Forget 850. Think 1800-1900.

    How the media manipulates markets....ignore them and stay the course.....
  • jabbajabba Posts: 3,176 ✭✭✭✭✭
    Well I got 15OZ of silver bars when it was at the top and then it fall's image I guess its not as bad when people where buying at $50 before the crash in the 80's image I will hold on to it for a LONG time!

    https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923

    https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923

  • granddadgranddad Posts: 966 ✭
    Golden Rule:

    He who holds the gold, makes the damned rules.

    Have a Great Day!
    Louis
  • stiffystiffy Posts: 407
    I blame Russ. Afterall, he started the thread.
  • mojomanmojoman Posts: 2,665
    It will go a little lower ,BUY ON THE DIP! then WATCH IT GO OVER 15.00 BYthe middle of Juneimage
    Ebay Seller I.D
    the_northern_trading_company
    ace@airadv.net
    imageimage
  • CoxeCoxe Posts: 11,139 ✭


    << <i>Golden Rule:

    He who holds the gold, makes the damned rules.

    Have a Great Day!
    Louis >>



    As opposed to those with short sales and margin contracts.
    Select Rarities -- DMPLs and VAMs
    NSDR - Life Member
    SSDC - Life Member
    ANA - Pay As I Go Member
  • RussRuss Posts: 48,514 ✭✭✭
    Okay, this is weird. I'm sitting in all cash and I moved up a notch today. Now, if 46 more participants lose enough money, I win! image

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC

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