@Manorcourtman said:
I would be very worried if I held SLV or any paper silver. Well, the paper shares could make an excellent firestarter for the logs in the fireplace.
What exactly do you plan for your physical gutter? You can't eat it....unless you want to be a smurf.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@Manorcourtman said:
I would be very worried if I held SLV or any paper silver. Well, the paper shares could make an excellent firestarter for the logs in the fireplace.
What exactly do you plan for your physical gutter? You can't eat it....unless you want to be a smurf.
Yeah it's tough having physical silver! Take pity on us foolish people!!
"London Bullion Market Association has entered what insiders are calling a "lockup." There is not enough physical silver to cover billions in spot contracts. Leasing costs have surged 30 to 100 percent. And in an extremely rare twist, spot prices have flipped above futures signaling extreme stress in physical supply chains."
"This is what a paper market looks like when reality hits. Years of leveraged speculation, synthetic contracts, and supply illusion have built a system that only functions as long as no one calls for delivery. This week, people did. And the market buckled."
Couldn't find the thread but there was a time back then that I predicted once the paper system broke, prices would break free. It's happening.
P.S. Blitzy, keep your eye close to that SLV, you don't won't to be in when it locks up.
Bulgaria Hedge is still a thing? Really?? it's 2025 are they still writing their own articles or has it gone complete Ai now? RGDS!
they're like silver, completely out of your league
No Way Out: Stimulus and Money Printing Are the Only Path Left
@Goldminers said:
Right back up again to 51. Lots of dip buying.
GM, if gold stays above $4,000 that has to be way above the base price or even the bullish price that most of the gold miners used in their projections and forecasting (from what I have read from the sell-side reports).
What do you think this "windfall" means going forward ? Is it going to fall to the bottom line, at least initially ? I wouldn't expect to see a CAPX or M&A boom....but I do wonder why we should NOT see the price boost the last few months really juice the quarterly results.
Interested to hear your perspective and anybody else who follows the gold equities closely. BTW, if anybody wants the gold equity report from RBC, email me at corvettekid1969@gmail.com since I can't attach PDFs here.
@Goldminers said:
Right back up again to 51. Lots of dip buying.
GM, if gold stays above $4,000 that has to be way above the base price or even the bullish price that most of the gold miners used in their projections and forecasting (from what I have read from the sell-side reports).
What do you think this "windfall" means going forward ? Is it going to fall to the bottom line, at least initially ? I wouldn't expect to see a CAPX or M&A boom....but I do wonder why we should NOT see the price boost the last few months really juice the quarterly results.
Interested to hear your perspective and anybody else who follows the gold equities closely. BTW, if anybody wants the gold equity report from RBC, email me at corvettekid1969@gmail.com since I can't attach PDFs here.
A few weeks ago I loaded up on long dated out of the money silver mining company call options. I'm up 4-5x and in the money on most of them.
@derryb said:
Couldn't find the thread but there was a time back then that I predicted once the paper system broke, prices would >break free. It's happening.
P.S. Blitzy, keep your eye close to that SLV, you don't won't to be in when it locks up.
How do we know the bulk of the move hasn't happened yet ? Or even if it is in the 8th inning of the move ?
Yes, leasing rates and other indicators indicate tightness and folks caught leaning the wrong way. But that's a LONG WAY from saying that another Gamestop (GME) situation is here and the metal is ready to triple or quadruple in a few days or weeks or even months.
BTW, gold is up overnight but silver/palladium/platinum all down slightly or flattish. Individual metals are trading on their own fundies.
@Goldminers said:
Right back up again to 51. Lots of dip buying.
GM, if gold stays above $4,000 that has to be way above the base price or even the bullish price that most of the gold miners used in their projections and forecasting (from what I have read from the sell-side reports).
What do you think this "windfall" means going forward ? Is it going to fall to the bottom line, at least initially ? I wouldn't expect to see a CAPX or M&A boom....but I do wonder why we should NOT see the price boost the last few months really juice the quarterly results.
Interested to hear your perspective and anybody else who follows the gold equities closely. BTW, if anybody wants the gold equity report from RBC, email me at corvettekid1969@gmail.com since I can't attach PDFs here.
.
Mining companies aren't necessarily in a "windfall" position if they have been engaging in forward selling of their future gold and silver production. In fact, they could be in somewhat of a bind if they have been doing that.
Mining companies aren't necessarily in a "windfall" position if they have been engaging in forward selling of their future gold and silver production. In fact, they could be in somewhat of a bind if they have been doing that.
.
especially if they have any disruption to their production. Some of these miners are making moves that make me wonder if people are doing any more research beyond 'gold mining companies'. PPTA is a local case in point - $3 to $24 in two years, yet they have not produced an ounce of revenue...
@derryb said:
Couldn't find the thread but there was a time back then that I predicted once the paper system broke, prices would >break free. It's happening.
P.S. Blitzy, keep your eye close to that SLV, you don't won't to be in when it locks up.
How do we know the bulk of the move hasn't happened yet ? Or even if it is in the 8th inning of the move ?
Yes, leasing rates and other indicators indicate tightness and folks caught leaning the wrong way. But that's a LONG WAY from saying that another Gamestop (GME) situation is here and the metal is ready to triple or quadruple in a few days or weeks or even months.
Yet London begs physical silver.
No Way Out: Stimulus and Money Printing Are the Only Path Left
But the move could end today....tomorrow....next week.
We don't know if it's months of central bank buying ahead, like we've seen with gold. There's no way to predict this and the fact that the NORMAL condition is to have these huge "short metal, long paper" conditions tells me that it's not a springboard to much higher prices but the normal condition.
@Goldminers said:
Right back up again to 51. Lots of dip buying.
GM, if gold stays above $4,000 that has to be way above the base price or even the bullish price that most of the gold miners used in their projections and forecasting (from what I have read from the sell-side reports).
What do you think this "windfall" means going forward ? Is it going to fall to the bottom line, at least initially ? I wouldn't expect to see a CAPX or M&A boom....but I do wonder why we should NOT see the price boost the last few months really juice the quarterly results.
Interested to hear your perspective and anybody else who follows the gold equities closely. BTW, if anybody wants the gold equity report from RBC, email me at corvettekid1969@gmail.com since I can't attach PDFs here.
Most do reserves on a couple year rolling averages to not overstate them and then have to downgrade. This is too fast, so most majors will be skeptical, but of course the quarter will have great earning results.
@Goldminers said:
Most do reserves on a couple year rolling averages to not overstate them and then have to downgrade. This is too >fast, so most majors will be skeptical, but of course the quarter will have great earning results.
Assuming they didn't sell forward, shouldn't they be getting a nice windfall on current production ? I understand reserve estimates fluctuate and change at $4,400 vs. $3,400 but was wondering more about profits, cash flows, etc.
I assume that the price stays at current levels and doesn't re-set to that from 6-12 months ago. A spike and collapse benefits nobody.
@dcarr said:
Mining companies aren't necessarily in a "windfall" position if they have been engaging in forward selling of their >future gold and silver production. In fact, they could be in somewhat of a bind if they have been doing that.
Are most PM companies hedging part/all of their production ? I haven't tracked that of late, might have to hit some of the sell-side reports I have been skimming.
@MsMorrisine said:
i want a refund on my $54 silver
I attended the big PAN show today. Nobody, and I mean nobody was buying 90%. Dealers were buying .999 but only offering $44-$46 per ounce. It didn't matter if it was eagles, vintage bars or whatever. There was one dealer that was willing to go $48 for ASE's. Of course, this was all happening in the midst of the $2-$3 selloff but still at spot $51-$52 seemed pathetic. Any dealers that were into bullion had cases stuffed full of the gutter and every one of them I asked said nobody was buying it at all today. I personally witnessed many attendees' purchasing gold and while a few dealers had quite a bit on display most seemed limited compared to what I normally see at this show. I was offered 98% of spot on Sovereigns, European Francs and Mexican Pesos. Of course, this was also in the midst of a $100 selloff but I decided to dump them all. I also sold some 2016 centennial gold in OMP that I purchased from the mint that I was offered spot and I took it. Best offer I could find on platinum was $1575 for CMLs. I sold a few again in the midst of the $100 Pt selloff. I also had some fractional slabbed Pt eagles that I was able to get rid of at spot.
I went to a very large bank right beside the convention center to deposit and they were thankful as they said they were completely out of $100's. Teller told me they had seen more cash withdrawn today than any day that she had witnessed in her 20+ years there. I'm sure the gold buyers had something to do with that.
I also met refiner that was onsite and I asked him where all this backlogged gutter is/has been heading. Suprise to me he said Italy. FWIW. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
i was just messing around with the 5% plunge in silver
as i was saying in a gold thread. no one was talking economic doom. this run up is momentum. we could see -400 more on gold and back to 40 on silver. (est. pre-run up numbers)
@MsMorrisine said:
i want a refund on my $54 silver
I attended the big PAN show today. Nobody, and I mean nobody was buying 90%. Dealers were buying .999 but only offering $44-$46 per ounce. It didn't matter if it was eagles, vintage bars or whatever. There was one dealer that was willing to go $48 for ASE's. Of course, this was all happening in the midst of the $2-$3 selloff but still at spot $51-$52 seemed pathetic. Any dealers that were into bullion had cases stuffed full of the gutter and every one of them I asked said nobody was buying it at all today. I personally witnessed many attendees' purchasing gold and while a few dealers had quite a bit on display most seemed limited compared to what I normally see at this show. I was offered 98% of spot on Sovereigns, European Francs and Mexican Pesos. Of course, this was also in the midst of a $100 selloff but I decided to dump them all. I also sold some 2016 centennial gold in OMP that I purchased from the mint that I was offered spot and I took it. Best offer I could find on platinum was $1575 for CMLs. I sold a few again in the midst of the $100 Pt selloff. I also had some fractional slabbed Pt eagles that I was able to get rid of at spot.
I went to a very large bank right beside the convention center to deposit and they were thankful as they said they were completely out of $100's. Teller told me they had seen more cash withdrawn today than any day that she had witnessed in her 20+ years there. I'm sure the gold buyers had something to do with that.
I also met refiner that was onsite and I asked him where all this backlogged gutter is/has been heading. Suprise to me he said Italy. FWIW. RGDS!
.
You wrote previously that attending a coin show would be a "pathetic waste of time" ?
What were dealers selling 90% silver coin for ?
Maybe now would be a good time to buy it if it is discounted significantly compared to other forms of silver ?
Sellers on eBay are currently getting (net, after fees) about 33 times face value for small lots of 90% silver coin.
Theoretical "melt" value is currently about 37.5 times face value.
Also sold some slabbed AU58-MS64 Morgan/Peace dollars. Crazy that when I bought them 2013-2017 the prices are pretty much the same, slightly higher but spot gutter seems to have eaten up the majority of the premiums. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@MsMorrisine said:
i want a refund on my $54 silver
I attended the big PAN show today. Nobody, and I mean nobody was buying 90%. Dealers were buying .999 but only offering $44-$46 per ounce. It didn't matter if it was eagles, vintage bars or whatever. There was one dealer that was willing to go $48 for ASE's. Of course, this was all happening in the midst of the $2-$3 selloff but still at spot $51-$52 seemed pathetic. Any dealers that were into bullion had cases stuffed full of the gutter and every one of them I asked said nobody was buying it at all today. I personally witnessed many attendees' purchasing gold and while a few dealers had quite a bit on display most seemed limited compared to what I normally see at this show. I was offered 98% of spot on Sovereigns, European Francs and Mexican Pesos. Of course, this was also in the midst of a $100 selloff but I decided to dump them all. I also sold some 2016 centennial gold in OMP that I purchased from the mint that I was offered spot and I took it. Best offer I could find on platinum was $1575 for CMLs. I sold a few again in the midst of the $100 Pt selloff. I also had some fractional slabbed Pt eagles that I was able to get rid of at spot.
I went to a very large bank right beside the convention center to deposit and they were thankful as they said they were completely out of $100's. Teller told me they had seen more cash withdrawn today than any day that she had witnessed in her 20+ years there. I'm sure the gold buyers had something to do with that.
I also met refiner that was onsite and I asked him where all this backlogged gutter is/has been heading. Suprise to me he said Italy. FWIW. RGDS!
.
You wrote previously that attending a coin show would be a "pathetic waste of time" ?
What were dealers selling 90% silver coin for ?
Maybe now would be a good time to buy it if it is discounted significantly compared to other forms of silver ?
Sellers on eBay are currently getting (net, after fees) about 33 times face value for small lots of 90% silver coin.
Theoretical "melt" value is currently about 37.5 times face value.
.
No, I wrote to your response, setting up a table and sitting at a coin show all week/weekend would be a pathetic waste of my time. Get your facts straight before attempting to stalk/slander me some more.
Yes, the dealers were trying to sell 90% junk at spot and some as much as 10% back of melt. They tried to preach the great time to buy but with gutter at $50+ NOBODY is willing to buy. No offense but it certainly didn't sound like a sound investment strategy to me but then I didn't proclaim to be some great financial analyst.
Those eBay sellers are certainly taking a bath with the net discount + shipping + hassle of dealing with ebay scammers. I'd much rather dump it in one early afternoon and walk out with cash in pockets. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
@MsMorrisine said:
i want a refund on my $54 silver
I attended the big PAN show today. Nobody, and I mean nobody was buying 90%. Dealers were buying .999 but only offering $44-$46 per ounce. It didn't matter if it was eagles, vintage bars or whatever. There was one dealer that was willing to go $48 for ASE's. Of course, this was all happening in the midst of the $2-$3 selloff but still at spot $51-$52 seemed pathetic. Any dealers that were into bullion had cases stuffed full of the gutter and every one of them I asked said nobody was buying it at all today. I personally witnessed many attendees' purchasing gold and while a few dealers had quite a bit on display most seemed limited compared to what I normally see at this show. I was offered 98% of spot on Sovereigns, European Francs and Mexican Pesos. Of course, this was also in the midst of a $100 selloff but I decided to dump them all. I also sold some 2016 centennial gold in OMP that I purchased from the mint that I was offered spot and I took it. Best offer I could find on platinum was $1575 for CMLs. I sold a few again in the midst of the $100 Pt selloff. I also had some fractional slabbed Pt eagles that I was able to get rid of at spot.
I went to a very large bank right beside the convention center to deposit and they were thankful as they said they were completely out of $100's. Teller told me they had seen more cash withdrawn today than any day that she had witnessed in her 20+ years there. I'm sure the gold buyers had something to do with that.
I also met refiner that was onsite and I asked him where all this backlogged gutter is/has been heading. Suprise to me he said Italy. FWIW. RGDS!
I can understand the dealer's position. A decent selloff going on and headed into a weekend where they can't offload anything until Monday would have me being pretty conservative too.
If you have any more PCGS slabbed platinum MS/PR70's to sell let me know.
@blitzdude said:
Also sold some slabbed AU58-MS64 Morgan/Peace dollars. Crazy that when I bought them 2013-2017 the prices >are pretty much the same, slightly higher but spot gutter seems to have eaten up the majority of the premiums. >THKS!
I'm sort of surprised...because the absolute cost of the coins and the dollar amount of the premium is much less than for corresponding gold and gold premiums.
@MsMorrisine said:
i was just messing around with the 5% plunge in silver
as i was saying in a gold thread. no one was talking economic doom. this run up is momentum. we could see -400 more on gold and back to 40 on silver. (est. pre-run up numbers)
Comments
I would be very worried if I held SLV or any paper silver. Well, the paper shares could make an excellent firestarter for the logs in the fireplace.
What exactly do you plan for your physical gutter? You can't eat it....unless you want to be a smurf.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Yeah it's tough having physical silver! Take pity on us foolish people!!
they're like silver, completely out of your league
No Way Out: Stimulus and Money Printing Are the Only Path Left
It wasn't very long ago I pulled my $50 rounds off ebay and I'm glad I did.
Entertaining the idea that maybe it is time to just pull it all.
I have a pending submission of modern bullion that is already worth $500 more since I sent it in.
GM, if gold stays above $4,000 that has to be way above the base price or even the bullish price that most of the gold miners used in their projections and forecasting (from what I have read from the sell-side reports).
What do you think this "windfall" means going forward ? Is it going to fall to the bottom line, at least initially ? I wouldn't expect to see a CAPX or M&A boom....but I do wonder why we should NOT see the price boost the last few months really juice the quarterly results.
Interested to hear your perspective and anybody else who follows the gold equities closely. BTW, if anybody wants the gold equity report from RBC, email me at corvettekid1969@gmail.com since I can't attach PDFs here.
A few weeks ago I loaded up on long dated out of the money silver mining company call options. I'm up 4-5x and in the money on most of them.
http://ProofCollection.Net
How do we know the bulk of the move hasn't happened yet ? Or even if it is in the 8th inning of the move ?
Yes, leasing rates and other indicators indicate tightness and folks caught leaning the wrong way. But that's a LONG WAY from saying that another Gamestop (GME) situation is here and the metal is ready to triple or quadruple in a few days or weeks or even months.
BTW, gold is up overnight but silver/palladium/platinum all down slightly or flattish. Individual metals are trading on their own fundies.
.
Mining companies aren't necessarily in a "windfall" position if they have been engaging in forward selling of their future gold and silver production. In fact, they could be in somewhat of a bind if they have been doing that.
.
especially if they have any disruption to their production. Some of these miners are making moves that make me wonder if people are doing any more research beyond 'gold mining companies'. PPTA is a local case in point - $3 to $24 in two years, yet they have not produced an ounce of revenue...
Yet London begs physical silver.
No Way Out: Stimulus and Money Printing Are the Only Path Left
But the move could end today....tomorrow....next week.
We don't know if it's months of central bank buying ahead, like we've seen with gold. There's no way to predict this and the fact that the NORMAL condition is to have these huge "short metal, long paper" conditions tells me that it's not a springboard to much higher prices but the normal condition.
Most do reserves on a couple year rolling averages to not overstate them and then have to downgrade. This is too fast, so most majors will be skeptical, but of course the quarter will have great earning results.
My US Mint Commemorative Medal Set
Assuming they didn't sell forward, shouldn't they be getting a nice windfall on current production ? I understand reserve estimates fluctuate and change at $4,400 vs. $3,400 but was wondering more about profits, cash flows, etc.
I assume that the price stays at current levels and doesn't re-set to that from 6-12 months ago. A spike and collapse benefits nobody.
Are most PM companies hedging part/all of their production ? I haven't tracked that of late, might have to hit some of the sell-side reports I have been skimming.
i have recently attached a pdf to a post
i want a refund on my $54 silver
What form of high priced silver did you buy that you wore the new off already
I bought a 1oz and a 1/8oz LEGO @ $52, still playing with mine
I attended the big PAN show today. Nobody, and I mean nobody was buying 90%. Dealers were buying .999 but only offering $44-$46 per ounce. It didn't matter if it was eagles, vintage bars or whatever. There was one dealer that was willing to go $48 for ASE's. Of course, this was all happening in the midst of the $2-$3 selloff but still at spot $51-$52 seemed pathetic. Any dealers that were into bullion had cases stuffed full of the gutter and every one of them I asked said nobody was buying it at all today. I personally witnessed many attendees' purchasing gold and while a few dealers had quite a bit on display most seemed limited compared to what I normally see at this show. I was offered 98% of spot on Sovereigns, European Francs and Mexican Pesos. Of course, this was also in the midst of a $100 selloff but I decided to dump them all. I also sold some 2016 centennial gold in OMP that I purchased from the mint that I was offered spot and I took it. Best offer I could find on platinum was $1575 for CMLs. I sold a few again in the midst of the $100 Pt selloff. I also had some fractional slabbed Pt eagles that I was able to get rid of at spot.
I went to a very large bank right beside the convention center to deposit and they were thankful as they said they were completely out of $100's. Teller told me they had seen more cash withdrawn today than any day that she had witnessed in her 20+ years there. I'm sure the gold buyers had something to do with that.
I also met refiner that was onsite and I asked him where all this backlogged gutter is/has been heading. Suprise to me he said Italy. FWIW. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
i was just messing around with the 5% plunge in silver
as i was saying in a gold thread. no one was talking economic doom. this run up is momentum. we could see -400 more on gold and back to 40 on silver. (est. pre-run up numbers)
.
You wrote previously that attending a coin show would be a "pathetic waste of time" ?
What were dealers selling 90% silver coin for ?
Maybe now would be a good time to buy it if it is discounted significantly compared to other forms of silver ?
Sellers on eBay are currently getting (net, after fees) about 33 times face value for small lots of 90% silver coin.
Theoretical "melt" value is currently about 37.5 times face value.
.
Also sold some slabbed AU58-MS64 Morgan/Peace dollars. Crazy that when I bought them 2013-2017 the prices are pretty much the same, slightly higher but spot gutter seems to have eaten up the majority of the premiums. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
No, I wrote to your response, setting up a table and sitting at a coin show all week/weekend would be a pathetic waste of my time. Get your facts straight before attempting to stalk/slander me some more.
Yes, the dealers were trying to sell 90% junk at spot and some as much as 10% back of melt. They tried to preach the great time to buy but with gutter at $50+ NOBODY is willing to buy. No offense but it certainly didn't sound like a sound investment strategy to me but then I didn't proclaim to be some great financial analyst.
Those eBay sellers are certainly taking a bath with the net discount + shipping + hassle of dealing with ebay scammers. I'd much rather dump it in one early afternoon and walk out with cash in pockets. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Your BST offer is 48 rolls (347.22 oz.) @ $51.55/oz. That is about $428 more than I could buy it for at Scotsmans in St. Louis.
Conversely, they are buying 90% halves at slightly more than 10% back of melt.
They are paying $1,607 for Canadian Platinum Maples. You didn't do that bad, considering your original cost.
That's the current market. If you can sell 90% at substantially more than what you bought it for, you are coming out ahead.
"You can't always get what you want, but if you try sometime you'll find - you get what you need."
I knew it would happen.
I can understand the dealer's position. A decent selloff going on and headed into a weekend where they can't offload anything until Monday would have me being pretty conservative too.
If you have any more PCGS slabbed platinum MS/PR70's to sell let me know.
http://ProofCollection.Net
I'm sort of surprised...because the absolute cost of the coins and the dollar amount of the premium is much less than for corresponding gold and gold premiums.
bingo
Well, there goes the value of my mini-hoard of a couple hundred early 1960's proof sets. LOL