How do you guys cope with gold and silver costing so much more
Comments
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The erosion of numismatic premiums when gold and silver were much lower is the tricky part.
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Still waiting on PR68 and PR69 "didn't catch a 70" key date proof eagles to go up. Thought I was safe with keys but they've more or less been the same price since March 2020. Whether spot is 22 or 41 they cost the same.
Key date commems and modern bullion have outperformed them by a mile. I tend to find more of those under spot too, or like spot with free shipping. A lot more of them catch MS70 and PR70 too.
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@asheland said:
I’m still buying at these prices, although it kind of sucks
I agree. I just reloaded the war chest to carry me through next year. It cost more to do but I'm probably going to make more. The issue for me is not having enough dry powder to do a higher volume or make more risky plays.
I really like gambling on "is this ebay seller a real person" and "is this mislisted item with a blurry photo what i think it is?" Those are often the situations that result in getting sweet stuff well below spot. They can, and do, also result in a frustrating experience of having my money tied up for weeks or having to do a card dispute.
I still can't make heads or tails of what markets have premiums that stagnate or go up with spot. I have some type of autism so pattern recognition is like a superpower and it is still hard to get a read on it. I'm starting to think the market is just gonna do whatever it wants to do.
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@Azurescens said:
I still can't make heads or tails of what markets have premiums that stagnate or go up with spot.
Thats why some of us stay away from premiums and instead trade spot.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@Azurescens said:
Still waiting on PR68 and PR69 "didn't catch a 70" key date proof eagles to go up. Thought I was safe with keys but >they've more or less been the same price since March 2020. Whether spot is 22 or 41 they cost the same.Which is.......?
Key date commems and modern bullion have outperformed them by a mile. I tend to find more of those under >spot too, or like spot with free shipping. A lot more of them catch MS70 and PR70 too.
That's to be expected. It's happened in the past, it just wasn't as painful a lesson because the rise in gold back then was hundreds of dollars, not $1,500 an ounce.
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@Azurescens said:
I still can't make heads or tails of what markets have premiums that stagnate or go up with spot. I have some type >of autism so pattern recognition is like a superpower and it is still hard to get a read on it. I'm starting to think the >market is just gonna do whatever it wants to do.I follow the premium patterns on gold coins, particularly Saints. It's counterintuitive, but if you believe gold is going to rise, with some exceptions, you do NOT do as well buying numismatic coins as you do pure bullion coins. A rising gold price eats into the premium.
There are exceptions but for more common gold coins, with modest premiums, you can watch gold DOUBLE and your coins do nothing price-wise.
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@RedneckHB said:
@Azurescens said:
I still can't make heads or tails of what markets have premiums that stagnate or go up with spot.
Thats why some of us stay away from premiums and instead trade spot.
@GoldFinger1969 said:
@Azurescens said:
I still can't make heads or tails of what markets have premiums that stagnate or go up with spot. I have some type >of autism so pattern recognition is like a superpower and it is still hard to get a read on it. I'm starting to think the >market is just gonna do whatever it wants to do.I follow the premium patterns on gold coins, particularly Saints. It's counterintuitive, but if you believe gold is going to rise, with some exceptions, you do NOT do as well buying numismatic coins as you do pure bullion coins. A rising gold price eats into the premium.
There are exceptions but for more common gold coins, with modest premiums, you can watch gold DOUBLE and your coins do nothing price-wise.
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Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
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@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common >one.Me too...but the market penalizes their leverage to a rising gold price in most instances.
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@GoldFinger1969 said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common >one.Me too...but the market penalizes their leverage to a rising gold price in most instances.
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But it also insulates the owner somewhat from a drop in the gold price.
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@dcarr said:
But it also insulates the owner somewhat from a drop in the gold price.Yup....but I think most want to know how their purchase would do if gold rises.
Look at the buyer of half-Eagles 5-6 years ago. $425-$450 in gold content....you pay double that (still affordable).....gold doubles and then some.....and your coin is flat and trades ONLY at the gold content !!
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I’d rather be fishing or golfing . That helps me cope.
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Come on Dan, give blitz a Quote/price for 100/250/500 but have him supply the silver
Call it skin in the game.1 -
@GoldFinger1969 said:
@dcarr said:
But it also insulates the owner somewhat from a drop in the gold price.Yup....but I think most want to know how their purchase would do if gold rises.
Look at the buyer of half-Eagles 5-6 years ago. $425-$450 in gold content....you pay double that (still affordable).....gold doubles and then some.....and your coin is flat and trades ONLY at the gold content !!
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Who here paid double melt for common Half Eagle gold coins 5 or 6 years ago ?
Don't be ashamed, please chime in if you did..
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@rte592 said:
Come on Dan, give blitz a Quote/price for 100/250/500 but have him supply the silver
Call it skin in the game..
Fortunately, I have more projects offered to me than I can actually do.
So I have the luxury of being able to pick the projects that I am actually interested in..
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Do gold and silver cost more, or does the dollar buy less?
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.6 -
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
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Would you pay a premium if it was common?
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@RedneckHB said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
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Would you pay a premium if it was common?
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Not at times (like now) when they are available at spot (no premium).
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@dcarr said:
@rte592 said:
Come on Dan, give blitz a Quote/price for 100/250/500 but have him supply the silver
Call it skin in the game..
Fortunately, I have more projects offered to me than I can actually do.
So I have the luxury of being able to pick the projects that I am actually interested in..
Your loss. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
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@dcarr said:
@RedneckHB said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
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Would you pay a premium if it was common?
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Not at times (like now) when they are available at spot (no premium).
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Common is common. Why ever pay a premium?
Excuses are tools of the ignorantKnowledge is the enemy of fear
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Common is common. Why ever pay a premium?
There's a widely-held view that common classic gold would be exempt from confiscation and that the modern American Gold Eagles would not - a view that I maintain is not really valid.
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.1 -
@TwoSides2aCoin said:
I’d rather be fishing or golfing . That helps me cope.They stocked hatchery steelhead at a pond down the street.
I didn't catch anything but it was incredible.
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@RedneckHB said:
@dcarr said:
@RedneckHB said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
.
Would you pay a premium if it was common?
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Not at times (like now) when they are available at spot (no premium).
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Common is common. Why ever pay a premium?
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It is OK to pay a premium if you can sell at the same premium, and/or if you think premiums are going up.
.
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@dcarr said:
It is OK to pay a premium if you can sell at the same premium, and/or if you think premiums are going up.
So if you are looking to sell some gold you bought at $2,000 an oz. years ago. And one of those coins is a common date Saint that you paid a $200 premium for ($2200), are you not selling today at $3650? Are you holding out to get a $200 premium @ $3850?
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@Downtown1974 said:
@dcarr said:
It is OK to pay a premium if you can sell at the same premium, and/or if you think premiums are going up.
So if you are looking to sell some gold you bought at $2,000 an oz. years ago. And one of those coins is a common date Saint that you paid a $200 premium for ($2200), are you not selling today at $3650? Are you holding out to get a $200 premium @ $3850?
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I personally don't have any such coin to sell. But if I did, and I truly wanted to sell it, I would sell at the best market price that I could get.
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I used to think the same thing too!
Now, I fully grasp the notion that it's not gold appreciating against the dollar, rather it's the dollar depreciating against gold.
Gold is the standard, not the US dollar.
It really doesn't matter what price you pay for gold.
When you're buying gold, you are buying 'wealth', you are buying true 'money', you are escaping the perils of the financial system.
It's a no brainer to me.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)3 -
@dcarr said:
@RedneckHB said:
@dcarr said:
@RedneckHB said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
.
Would you pay a premium if it was common?
.
Not at times (like now) when they are available at spot (no premium).
.
Common is common. Why ever pay a premium?
.
It is OK to pay a premium if you can sell at the same premium, and/or if you think premiums are going up.
.
There is always an "if" or two.
Paying premiums for common is a fools game, which has been proven time and time again.
Im surprised you dont own much gold.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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Yeah, all of those fools paying premiums on common date gold years ago, who could double or triple their money now, even selling at melt. Pffft, bunch of fools. 🙄
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End Systemic Elitism - It Takes All of Us
ANA LM, LSCC, EAC, FUN1 -
@RedneckHB said:
@dcarr said:
@RedneckHB said:
@dcarr said:
@RedneckHB said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
.
Would you pay a premium if it was common?
.
Not at times (like now) when they are available at spot (no premium).
.
Common is common. Why ever pay a premium?
.
It is OK to pay a premium if you can sell at the same premium, and/or if you think premiums are going up.
.
There is always an "if" or two.
Paying premiums for common is a fools game, which has been proven time and time again.
Im surprised you dont own much gold.
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Predicting the future always includes an "if".
Right now, it might make sense to buy semi-rare gold coins at a modest premium, since the price on those might hold up a little better than the most common gold if the gold price drops.
Paying a NEGATIVE premium (as in SLV fees and the like), is the greater fool game.
.
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@Downtown1974 said:
Yeah, all of those fools paying premiums on common date gold years ago, who could double or triple their money now, even selling at melt. Pffft, bunch of fools. 🙄Im talking about all the moron who are still trying to break even on the ASEs they bought 3 years ago.
But yeah, you coulda bought non-premium gold and been up quadruple. Yup, bunch of fools. Lol
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@dcarr said:
@RedneckHB said:
@dcarr said:
@RedneckHB said:
@dcarr said:
@RedneckHB said:
@dcarr said:
Personally, I would still rather pay 10% more (for example) for a rare date gold coin than pay "spot" for a common one.
.
Would you pay a premium if it was common?
.
Not at times (like now) when they are available at spot (no premium).
.
Common is common. Why ever pay a premium?
.
It is OK to pay a premium if you can sell at the same premium, and/or if you think premiums are going up.
.
There is always an "if" or two.
Paying premiums for common is a fools game, which has been proven time and time again.
Im surprised you dont own much gold.
.
Predicting the future always includes an "if".
Right now, it might make sense to buy semi-rare gold coins at a modest premium, since the price on those might hold up a little better than the most common gold if the gold price drops.
Paying a NEGATIVE premium (as in SLV fees and the like), is the greater fool game.
.
If.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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sometimes you gotta hold 'em a little longer than other times. If you're not elderly like me time is on your side. But I've held mine long enough to where they are now paying off.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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To me it reflects the eroding value of the dollar.
"Poets are the unacknowledged legislators of the world." PBShelley2 -
@DoubleEagle59 said:
I used to think the same thing too!Now, I fully grasp the notion that it's not gold appreciating against the dollar, rather it's the dollar depreciating against gold.
Gold is the standard, not the US dollar.
It really doesn't matter what price you pay for gold.
When you're buying gold, you are buying 'wealth', you are buying true 'money', you are escaping the perils of the financial system.
It's a no brainer to me.
I used to think this was just something sovereign citizens and radical libertarians said. Then I lived through the last six years and I totally get it now.
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@derryb said:
sometimes you gotta hold 'em a little longer than other times. If you're not elderly like me time is on your side. But I've held mine long enough to where they are now paying off.Had to explain to my wife last night that, while some plays are bad in the interim and I'd lose money if I sell, we have the option to just wait until they're worth more. She said this sounds pretty wild. I told her the mistakes I made at 18 have already doubled +some. I think she gets it now.
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@derryb said:
sometimes you gotta hold 'em a little longer than other times. If you're not elderly like me time is on your side. But I've held mine long enough to where they are now paying off.Time heals all wounds.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@RedneckHB said:
@derryb said:
sometimes you gotta hold 'em a little longer than other times. If you're not elderly like me time is on your side. But I've held mine long enough to where they are now paying off.Time heals all wounds.
it also wounds all heels
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
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@derryb said:
@RedneckHB said:
@derryb said:
sometimes you gotta hold 'em a little longer than other times. If you're not elderly like me time is on your side. But I've held mine long enough to where they are now paying off.Time heals all wounds.
it also wounds all heels
One should walk in another man shoes.
Excuses are tools of the ignorantKnowledge is the enemy of fear
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@Downtown1974 said:
Yeah, all of those fools paying premiums on common date gold years ago, who could double or triple their money now, even selling at melt. Pffft, bunch of fools. 🙄IKR? 😆
Not that I’m selling, but not too long ago I got this at the time, below melt!
$550 in April of 2024
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That’s a beauty @asheland! That’s right in my wheelhouse!
I remember now, we have very similar interests in our collecting scope. You gave me some great advice when I built my gold type set.1 -
@Downtown1974 said:
That’s a beauty @asheland! That’s right in my wheelhouse!
I remember now, we have very similar interests in our collecting scope. You gave me some great advice when I built my gold type set.Thank you! I do appreciate that! 👍
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Funny thing is I did not need that type. I already had one a grade higher, but it was such a pleasant coin for such a great price. I couldn’t resist it! He literally sold it to me about $15 under the current melt price that day.!
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Prices from a local monthly show today:
AGE 3600 / 3700
Buffs 3650 / 3750
Generic silver 40 / 42.5
90% 27.7-29 / 29-29.5
40% 11 / 12Lots of 10 oz bars at 420-430.
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@RedneckHB said:
@derryb said:
@RedneckHB said:
@derryb said:
sometimes you gotta hold 'em a little longer than other times. If you're not elderly like me time is on your side. But I've held mine long enough to where they are now paying off.Time heals all wounds.
it also wounds all heels
One should walk in another man shoes.
Yeah…. Why wear out your own shoes ? Wear out the other guy’s !
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And 50 by Christmas, however it will be nowhere near the high if you do an inflation calculator for 1980, $50 is over 200 today.
Lots of people think it’ll hit 600. I don’t know if I agree with that or not but I do think 100 or 200 and down the road could be very possible.
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$600!!!????
Imagine.....Silver dimes at $40 and quarters at $100 each.We'd all be rich!!!
Excuses are tools of the ignorantKnowledge is the enemy of fear
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I couldn’t quite get to the start date of this thread (09/22/24) but I could get close.
Compare the current price to that of 09/27/24.
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