JM Bullion lists Silver Eagles in stock, Random year (no choice) for $37. (pre-order for 2020 year for $39).Originally Posted by rancher1913
As I type this, the market ticker has Silver spot price at $29.31
https://www.jmbullion.com/silver/sil...silver-eagles/
~~~~~~~~~~~~~~
“If someone has a gun and is trying to kill you, it would be reasonable to shoot back with your own gun.”
― The Dalai Lama, Seattle Times, May 2001
Copper mines are shut down due to lack of demand with manufacturing shut down. Silver is a by product of that and of lead mining. SO supply has dropped way off...
Had a friend who bought silver during the last silver boom, He bought @ 30 and went to 38 a few weeks later, He did not sell at 38 and silver dropped to $14 a few weeks later... Be careful!
Give me something to believe in. Poison
Arosmith What it takes
A 12 step program
When the price moves from $15 to $30 in a couple months it's time to sell, not buy... You're supposed to buy low and sell high...
Looking at historic charts shows a number of spikes and the price always comes back down. Often times just as fast as it shot up.
When the market gets frothy and people selling silver start talking about how it's a great time to buy silver be wary. If the people selling silver knew it was heading to $100 they'd be holding it, not getting rid of it.
FWIW you can find silver at the major retailers for about $32.50 per ounce and sell it back to them for around $29. At this point I'm considering selling some.
In dealing with silver, I advise my friends to NOT buy bars or bullion coins minted by.........whoever! Or foreign coins.
Buy OLD solid silver half dollars. They are almost pure silver (90%) and as I said in a SHTF situation they are still worth 50¢! You cannot spend bullion coins or bars. Only sell them thru metal houses and dealers. The bullion coins are better than bars, because the are minted by a (supposedly) reputable mint. Bars can be made out of most any alloy and stamped.
But stick with old US currency for "hoarding"!
( Pre-1964 Kennedy, 1948-63 Franklin, 1916-1947 Walking Liberty ------- all 90% Ag)
banger
IMO If we reach a point where a silver half dollar is only worth $.50 it won't make much of a difference whether or not you've got "junk silver" or .999.
You can buy silver bullion coins for a 10% premium over spot or old US coins for a 30% premium. When purchasing large quantities that spread makes a big difference. I have saved the invoices from most of my purchases to verify the gold/silver/platinum is legit should the time come...
There is nothing wrong w/ foreign coins. The important thing is that they are from a reputable mint. I don’t hesitate to buy from Canada or Australia. I do agree w/ no bars. They can be shaved where coins typically prevent this.
You’re going to pay a large premium for 90% silver coins. Both over spot and face value. The 35% war nickels are almost always the lowest price over spot. $2 face gets you 1.125 ounces but the coins are in pretty rough shape. You will have around .75 ounces for $2 in 90% half dollars. If you’re buying them for silver the amount you get for your dollar matters.
Under normal circumstances I would recommend going to to the bank and buying all the half dollars they have. I’ve gotten countless 40% Kennedy coins this way. Take the other ones back and get dollars. But w/ the current situation you can’t do this. And I haven’t been getting as many desirable coins lately.
Gold and silver are in the early stages of a secular bull market, which means that they are cheap now and will be expensive later. Only those of you who want to speculate in the metals market need to watch for the highs. The rest of the buyers are in it for medium-to-long-term wealth preservation.
Of particular note is the fact that gold has increased by $1,738.50, or 604%, since 2000, which equates to an average of 30% per year, despite the previous high in 2011 and recent low in 2015. There will be price surges as well as retractions over the short term, but all indications point to much higher prices for gold and silver going forward.
As the Federal Reserve pumps trillions of dollars’ worth of inflation into the economy and financial markets, your savings will be taxed like never before. The time has come for Americans to convert their worthless dollars into tangible assets while they still have purchasing power.
Good luck, we’re all going to need it.
R/Griff
The way I look at it is its more for when the economy comes back on line. Our current paper money is going to be a thing of the past and worthless but the metals will always be of value
i don't know about long long term. i think some of silvers industrial use will be replaced by advances in material science. higher density and higher price metals are only rare on earths surface. there's asteroids out there that make Global GDP look like my bank account, eventually somebody is gonna go grab em and gold might become cheap enough that we can cast shiny gold boolits!
Peter Schiff on gold and silver:
“Gold and silver are not up because of Covid. Now, Covid is part of the reason, but it’s not the actual cause. You see, what happened is governments, and, in particular, central banks, they’ve responded to Covid by printing a lot of money. Governments are running big deficits and central banks are printing the money to monetize those deficits, especially the Federal Reserve. And so, it’s the money printing. It’s the inflation that central banks are creating in order to monetize government debt that is a response to Covid that’s helping to drive the gold price higher.”
He is only really half right. Gold and Silver are up but oil, lead and copper have not risen. It is not so much inflation but fear of inflation or deep recession. It is a risk off move. If the market does crash it will take gold and silver down to as people will have to sell their gold and silver to pay for their shorts and to feed themselves and pay the rent and mortgage. Inflation is still low and will remain low until the crisis is over.
Tim
Words are weapons sharper than knives - INXS
The pen is mightier than the sword - Edward Bulwer-Lytton
The tongue is mightier than the blade - Euripides
Yep, he mentioned inflation, too:
“The market is trying to instill fear in the weaker hands, so you get these spectacular one-day moves in the opposite direction of the primary trend to shake people out, to get the weaker players out of the market so you can clear away the excess baggage and then continue the trend,” he said, noting that people shouldn’t lose sight of the fundamentals, and they’re still bullish for gold.
Given the actions of the US Federal Reserve, with its unprecedented money printing, the government’s borrowing and resulting deficits, as well as the macroeconomic dynamics currently in play, we have “the most bullish fundamentals for gold in history,” Schiff said.
According to him, inflation is the driving factor for both the rising price of precious metals and falling bond yields. “And it’s going to continue to drive the price of gold higher, despite the reaction we got in the market today to the PPI number."
The government also monetizes its debt to us (bonds and T-Bills), so that when we redeem the bonds, it APPEARS that we're getting our money back with interest, but we're actually getting less buying power because the value of those dollars returned to us is less. That's called inflation. That's what happens when government spending is out of control and exceeds revenues as has happened this year with all of these stimulus packages and enhanced unemployment benefit packages in a time of dramatically reduced tax revenues. With great sectors of the economy either shut down completely or greatly reduced due to pandemic concerns (i.e,. by blue state governors and mayors to impact the economy to hurt Trump in November, and also manufacture justification to demand federal bailouts to try to shore up their budgets after years of deficit spending to buy votes).
I'm not surprised silver and gold are up. And it means I sold my silver too early once again.
That's not true. We didn't get one cent of that money, and not even the child credit for my son that wasn't yet 17. The eligibility is based on your 2018 or 2019 tax return, and we had not yet done our 2019 taxes. Living in SoCal, we make more to compensate for the ridiculous cost of living, but we still pay the same federal tax rate on that income as those who live in Kansas with 1/4 the cost of living (which is one reason we're moving there).
There's a little more to it than that--FDR made it illegal to own more than a certain amount of silver or gold. Some very wealthy people sent bags of gold eagles and double eagles to be stored in vaults in Europe, but a great deal of silver and gold were basically confiscated here by the federal government and melted down. Many millions of Morgan silver dollars, Peace dollars and silver half dollars were melted down.
Last edited by dolfinwriter; 08-13-2020 at 09:43 PM.
And THAT is THE reason for buying precious metals. Don't listen to the hypesters and profiteers who benefit from you buying THEIR silver and THEIR gold. Both gold and silver go up and down just like any other commodity. The best reason to own them is that usually hold their value vs. inflation, and they are never worth ZERO.
Are you talking about a raw silver MS eagle right out of a Monster box, or a coin certified by NGC or PCGS, or even ANACS? Burnished will be higher and Proofs will be higher also.
Accurately stated.
I must clarify for those that misunderstand what inflation is: an increase of the supply of currency. That’s it. All other prices rise as a result of inflation, and most everyone mistakenly conflates price increases with actual inflation.
A chart from Kitco.com:
R/Griff
the ones I saw where 2018 silver eagles, not numismatic, just run of the mill coins. to get a better spot actual price for actual silver and not paper, follow the sales on ebay.
if you are ever being chased by a taxidermist, don't play dead
Gold and silver both took a big hit this week, gold down over $100 from its record high. Notice, however, it is settling above the previous high set in 2011. This trend will continue as the bull market in precious metals finds its feet and continues its upward trajectory.
It’s still a good time to buy.
R/Griff
The Fed uses the core CPI as their prime measure of inflation. They use M2 to measure changes in the money supply. Prices do not always increase with an increase in the money supply. We are talking about consumer price inflation not money supply inflation. Inflation is also something you do to balloons and tires. When talking about inflation in an economic sense people most often think of consumer price inflation.Accurately stated.
I must clarify for those that misunderstand what inflation is: an increase of the supply of currency. That’s it. All other prices rise as a result of inflation, and most everyone mistakenly conflates price increases with actual inflation.
A chart from Kitco.com:
R/Griff
Tim
Words are weapons sharper than knives - INXS
The pen is mightier than the sword - Edward Bulwer-Lytton
The tongue is mightier than the blade - Euripides
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