Wow Gold Passed by the $3600. Level and closed at $3599.50 and Silver at $41.20
jfriedm56
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Where does this end? $4000. for gold and $50. for silver? What are your thoughts?These numbers may be the new reality.
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I wish I'd have bought some back in the day. I wouldn't touch it, now (but that's what I said when it hit $2500!!
). I have no clue where it will come to rest, once the dust settles..Should be interesting, in any event!!! I had a friend who sold much of his gold stash, when it hit $2000. He had paid around $1500 for it. I cautioned him NOT to sell but he didn't listen. He told me that doing so (holding onto it) would be risky and greedy. I wonder how he feels NOW?? 
He should have listened.. 
Some folks insist on learning the HARD WAY. 
ALL of the 'Gold Bugs' who have been buying it their whole lives (because they believe in it) are sure sitting pretty, now!! 
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
That was a big day for metals, 4K by the end of the year is what my crystal ball says.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
What numbers are you using? Are those Futures as opposed to the current Spot Price which is well under $3600.
Agreed, that must have been a futures price (December 2025?) as opposed to spot (roughly $3531-$3535 bid/ask).
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
People like to use the larger number... unless they are buying. Lol
All comments reflect the opinion of the author, even when irrefutably accurate.
Those are Futures prices which looks like now they will be the actual price Nov/Dec timeframe, if this trend continues.
The $300 sovereign turned into the $800 sovereign pretty quickly. Bullion is good inflation insurance.
Metals prices are usually discussed in the Precious Metals forum.
http://ProofCollection.Net
Here’s my thoughts - Sell
Mr_Spud
Can I borrow yours?
I still wear a tie clip with a Half Sovereign on it. I bought it at a coin show in Dayton while I was working for Coin World in 1974 or 75 and had it soldered onto a gold-filled tie bar. The coin had solder on it from a previous jewelry use, and it cost me $12.
"Borrow"? Does that mean you'll give it back at $5000?
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Is that your prediction?
I find that amazing......that you still wear a necktie.
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
It doesn't seem like the economy is bad enough to rate gold prices at this level. I"ve lived long enough to have seen $850 gold which dropped down do $300. It makes me wonder if a major correction is in order.
I have a lot of gold, but it's "the wrong stuff." It's collectors' items, including a few sets and a gold type set. The current price of bullion has sucked the numismatic value out of a lot of items like common date $20 gold coins, even in grades like MS-63 and 64. If bullion drops, the collector base can no longer save you.
Weddings and funerals.
Why does the economy have to be bad in the US for the US Dollar price of a global commodity to go up? Why can't it be a function of supply and demand?
http://ProofCollection.Net
Well, the price of Gold is affected by the Supply and Demand of the Dollars used to buy it.
If you think that the gov will take care of the fiscal crises and dollar dilution in a fairly short period of time then of course sell your precious metals.
But I think it's a good time to hold with deficits raging, Congress in gridlock, levered up companies and personal debt, and currency in flux.
As far as numismatic premiums there are opportunities in the scarcer mints and dates.
As silver keeps climbing nicer silver coins may get sold at close to melt prices.
My pocket piece is now worth over $41.
I got the metal medal at the U.S. mint for $104 , last November. Metal is only worth what we are willing to pay. How about that $5420 gold (half ounce) Superman medal ?
It is those premiums which are costly.
``https://ebay.us/m/KxolR5
Already happening. A 1955 Franklin half (mintage 2.4 million) is worth barely more than a 1963-D (mintage 67 million). Back in the 1960's when I began collecting, a circulated 1955 half was about $7.00 and a 1963-D was spending money.
My Adolph A. Weinman signature
the gold is an actual coin, but the silver is a medal. look at the reverse for the $50 denom.
Gold has long been touted as a hedge against inflation and economic uncertainty. Inflation is low, and stock market is doing well. Before this cycle, the last time gold really went crazy was circa 1980 when inflation was 20%. In the past gold has been antidote for pessimism.
The argue about supply and demand is circular. Demand goes up for various reasons, including a hedge against inflation.
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That's quite a premium over melt value.
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
I tend to agree with this. However, I will note that the gold and silver price increases have been gradual. It's not behaving like irrational panic or exuberance. [And I'm not a lover of PMs as investments. ]
All comments reflect the opinion of the author, even when irrefutably accurate.
Let’s not forget that, even though a big influencer, the United States isn’t the only player when it comes to the fluctuations in the precious metals. Rising affluence in many parts of the world allow for individuals as well as governments to spike the demand.
Yes and no. Demand for hoarding isn't the same as industrial demand. If you think that individual hoarding is driving demand, then when it starts to drop, get the heck out of the way because it is going to accelerate the drop when the weak hands bail on a discretionary purchase.
All comments reflect the opinion of the author, even when irrefutably accurate.
Gold is the anti-dollar. But strong demand is coming from central bank bulk purchases globally. This demand does not correlate to the strength of the US economy. That was my point to counter the assertion that gold only or mostly goes up when the economy is bad. It's simply not a requirement at all.
http://ProofCollection.Net
The central banks used to sell gold to tamp down the price when it was rising. Now you say they are buying which says they have no confidence in the dollar, which says they have no confidence in the U.S. economy.
I would say sell some. I took some profit earlier in the year and don't buy into the would have, should have, could have mentality. I did expect some greater pull back but it ended up being a minor pull back then a big push up, especially for silver. I talked my son into buying a stash of ASE 3 years ago. Of course when I told him it hit $41 he said "I should have brought more" lol.
If the European or Japanese or African or Asian central banks are buying gold, I'm not sure it's because of their confidence or lack there of the US economy. I would surmise it's more likely due to their own financial condition. The world doesn't revolve around the US, although we like to think it does.
http://ProofCollection.Net
Last time I sold silver was at $42, net. Not sure what spot was. Getting close to losing on that deal...
http://macrocoins.com
He should be buying more now. The long term multi-decade chart pattern projects to $95-ish.
http://ProofCollection.Net
If they are buying gold rather than US Treasuries, it does reflect on their view of the dollar if not the economy in general. There's a reason central banks had sold off their gold in recent decades. There's little point to a central back holding a volatile asset that doesn't pay any yield.
All comments reflect the opinion of the author, even when irrefutably accurate.
The precious metals forum is thinly populated and many posts are simply two sides bickering and trolling. I think it’s worthwhile to have posts on gold in the coin forum as it’s the most likely place to get perspectives from a wider range of collectors and dealers.
He who knows he has enough is rich.
Gold has doubled in value since 2023.
Doubling in 20 years is not an exciting return
If there's little point, why are they buying now? I would venture it's a move to shore up their own balance sheets and be backed by something other than debt because the US (and world's debt-to-GDP ratios are getting a little high). US debt levels are out of control, but that doesn't mean the economy is doing good or bad, it just means we have or have had some eager spenders in control of the pocket book. Eventually debt loads will take a toll on the economy but it's not happening yet. The central bank gold purchases have been happening for years, it is not a recent phenomena. The CBs became net buyers in 2011 and really stepped it up 3 years ago over a time period that the economy has done pretty well.
http://ProofCollection.Net
Most of my non-collectable gold is in the form of chains or bracelets since esp when one shops around and finds them near spot from gold buyers looking to move them instead of refining. Its crazy that wearing 4-5 ounces means near $15k of exposure, add a watch and a wedding ring even and its easy to walk around with 30-40k of accents. Completely different risk vector for the same stuff 20+ years ago.
11.5$ Southern Dollars, The little “Big Easy” set
Than why have a separate forum?
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To assist in refining.
``https://ebay.us/m/KxolR5
dunno. it's all digging and no pay dirt over there
however inivite everyone here to there so things can be changed
+1, balance makes it an occasional indulgence without being overbearing.
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Thoughts? ...May sell a little silver or gold pieces I no longer care for. Holding gold and silver is insurance. Do not worry about $4000 gold but $10,000.....$100,000 gold should the Government really lose control.
The government already has. If you're waiting for the press release you'll be too late.
http://ProofCollection.Net
You bet - gold at $4000, silver at $50.
Bullion coins doing well. Recommend Mexico Libertads, GB Britannia, American Eagles.
Because they no longer want to hold dollars. It is fundamentally a statement on the "reserve currency".
All comments reflect the opinion of the author, even when irrefutably accurate.
OK, but that's not a new thing. The big shift from selling to CB buying started in 2012.
http://ProofCollection.Net
Anybody cutting up 1959-64 mint sets to sell 10c-50c at junk silver prices?(This is for coins not worth paying the $23 economy tier grading fee).
Just curious . . . .
@Cuprinkor , not yet but have been thinking about it. For now I figure the rate at which the sets are getting cut up may actually make them a wanted item in OGP.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$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