I just have bin hearing a lot of rumours that there could be a economic collapse in 2021 and into next spring. many investors like warren buffet switched to gold and silver and many people are abandoning fiat currency to gold and silver. do you believe the rumours that something big is brewing or is this just a hoax to make people buy more stocks and invest more?
I dont know about economic collapse. Sounds fishy to me.
But, I believe, and others agree ,that silver is going to only go up in value.We have had previews of that. People around here(WI.) are paying @ auction, $30.00 for a 1oz round of silver. And today its @ $24.07 an Oz. So,I think its a case of the market for silver being volatile, and probably going up.
I wont pay that. But, if it goes to $35.00, then $30 aint so bad.
But surely, you have to wait a fair time to recover the money invested.
If you buy an ounce of silver today, the selling price today is possibly 75% of original price, so you have already lost.
I suppose the gamble is the time you hang on to this ounce of silver, before selling, and making a profit.
This gamble is the fact that the value can stay the same, or indeed go down.
I would imagine if you bought silver many years ago, you would now make a great profit.
yes, but a fair time may be long or short.
the dollar value of silver has gone from US$12 to US$24, and of gold US$1200 to US$1900 in just last five years.
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
Quote: "COINMAN1"But five years is a long time to wait for a possible profit. It surely cannot continue to rise.
I wonder why it's gone so high. What does everyone at the end line do with these precious metals?
I agree with you - the rise has to stop somewhere.
They say playing the long waiting game always bears fruit.
I guess it is all about having something for the rainy day - that I hope no one ever has to encounter.
For me, gold is like the most historical "real money" you can possess. It's not paper (although that's what I collect), bitcoin or even other precious metals. Silver is fine but it remains the cheap 3rd cousin to 'glamorous gold.' Both gold (& silver) have been around (& valued) for millennia. This only adds to their draw & appeal as a safe haven.
Gold has experienced typical market swings. Usually it hovers around a very stable price point if all world markets remain stable. . Once "Shit hits the fan" such as a war that negatively impacts oil supply (or other world catastrophes) then gold becomes a vulnerable commodity (precious market value either increases or decreases). So when the price goes up it usually means that safe investing havens have become too complicated. That's what's happening now with COVID19 hanging around & many businesses being put into jeopardy since the world's literally changed post-pandemic.
Many people have lost trust over their country's currency. I believe this is a result of extensive quantitative easing (or the Finance department's) decision to print way more money than usual. A country's slack fiscal policies have often led these populations to seek alternative havens for money such as bitcoin, stocks or precious metals.
To be real if it really comes to a serious collapse of the system your lumpy metal will be of much use as your cotton or plastic rectangles for a long time.
Have a nice day and good, good health.
CZECHOSLOVAK REPUBLIC 5 ducats 1937 https://en.numista.com/catalogue/pieces19978.html
The auction was in Prague yesterday, the four bidders recharged to 3 times the price / 300 thousand euros (roughly eight million crowns) is at the beginning , Spend 850,000 euros on a gold coin - 550 thousand euros was an estimate .
The collector believes that the investment will pay off.
I like the idea that by buying e.g. silver proof commems at a spot price you can accumulate nice collection AND investment. You can also choose paper silver or silver rounds, but coins are pieces of art and may have good face value also. For example before the latest climb of silver price you got many Finnish €10 commems for €10-12/each, which was a spot price as well. If silver would go down, it's still possible to take them to bank at face value. That situation is only when coins are bought from aftermarket. Original issuing price is something like starting from €38/each.
Then there are foreign commems which may sell under face value. 5000 yen coins are maybe the best example. I have bought few of them at a silver value and some with premium added (€8-17/each). Exchange value is over €40 for these coins.
Quote: "Serial_Number_8"For me, gold is like the most historical "real money" you can possess. It's not paper (although that's what I collect), bitcoin or even other precious metals. Silver is fine but it remains the cheap 3rd cousin to 'glamorous gold.' Both gold (& silver) have been around (& valued) for millennia. This only adds to their draw & appeal as a safe haven.
Gold has experienced typical market swings. Usually it hovers around a very stable price point if all world markets remain stable. . Once "Shit hits the fan" such as a war that negatively impacts oil supply (or other world catastrophes) then gold becomes a vulnerable commodity (precious market value either increases or decreases). So when the price goes up it usually means that safe investing havens have become too complicated. That's what's happening now with COVID19 hanging around & many businesses being put into jeopardy since the world's literally changed post-pandemic.
Many people have lost trust over their country's currency. I believe this is a result of extensive quantitative easing (or the Finance department's) decision to print way more money than usual. A country's slack fiscal policies have often led these populations to seek alternative havens for money such as bitcoin, stocks or precious metals.
I always have believed gold and silver are valuables but what is really valuable about them in reality ? you can't make any thing out of it that has importance in real life like cooking, building and survival other then a currency. I have come to believe that gold and silver is valuable because in the end humans like to look at shiny and interesting items. eventually people will relise this and common currency will come rushing back because you always need a starting place for a economy. many people say currency is a waste and fiat currency are trash but there are political factors and economic factors determining a value of a currency, its not just printing money and stamping a value as many think. most currency's are based of the American dollar and use the American dollar as a bench mark of 0 and if it will be + and go higher then the dollar or be - and be lower then the dollar.
Quote: "Serial_Number_8"For me, gold is like the most historical "real money" you can possess. It's not paper (although that's what I collect), bitcoin or even other precious metals. Silver is fine but it remains the cheap 3rd cousin to 'glamorous gold.' Both gold (& silver) have been around (& valued) for millennia. This only adds to their draw & appeal as a safe haven.
Gold has experienced typical market swings. Usually it hovers around a very stable price point if all world markets remain stable. . Once "Shit hits the fan" such as a war that negatively impacts oil supply (or other world catastrophes) then gold becomes a vulnerable commodity (precious market value either increases or decreases). So when the price goes up it usually means that safe investing havens have become too complicated. That's what's happening now with COVID19 hanging around & many businesses being put into jeopardy since the world's literally changed post-pandemic.
Many people have lost trust over their country's currency. I believe this is a result of extensive quantitative easing (or the Finance department's) decision to print way more money than usual. A country's slack fiscal policies have often led these populations to seek alternative havens for money such as bitcoin, stocks or precious metals.
I always have believed gold and silver are valuables but what is really valuable about them in reality ? you can't make any thing out of it that has importance in real life like cooking, building and survival other then a currency. I have come to believe that gold and silver is valuable because in the end humans like to look at shiny and interesting items. eventually people will relise this and common currency will come rushing back because you always need a starting place for a economy. many people say currency is a waste and fiat currency are trash but there are political factors and economic factors determining a value of a currency, its not just printing money and stamping a value as many think. most currency's are based of the American dollar and use the American dollar as a bench mark of 0 and if it will be + and go higher then the dollar or be - and be lower then the dollar.
"I always have believed gold and silver are valuables but what is really valuable about them in reality ? you can't make any thing out of it that has importance in real life like cooking, building and survival other then a currency."
Most recently it has been used extensively in electronic components (such as this computer). That is just one of the many reasons it is rare & valuable. You should look it up.
Quote: "COINMAN1"Over the last week or so, an advert for investing in gold and silver has appeared on our television in the UK
The website is below.
www.bullionbypost.co.uk
The advert shows hundreds of coins spread over a table
I've been a client of BullionByPost for a couple of years now. Reliable. Discreet packaging. I liked their range of fractional weights, hence why I opened an account.
But I won't buy gold and silver at the current prices. I'll wait until the prices fall again.
Quote: "Idolenz"To be real if it really comes to a serious collapse of the system your lumpy metal will be of much use as your cotton or plastic rectangles for a long time.
well, but these processes don't go off instantly, like an earthquake, but drag on for years and years, as in fact, the present collapse it has already been dragging on slowly since the the last 30 years! And the most of us will try to go on as normal for as long as possible...
Even US$ dollar prices have added a zero in that time! add another zero or two and then see what your gold bought today is worth!
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
I think something special is happening in the coin auction market. Maybe it's just my feeling when I lose all the bargain auctions.
I go for Celtic coins and I don't despise ancient Greece either- for two months now, new investors have overwhelmed me in the offer.
This is not normal in our small market, yes 10 to 20 permanent candidates are normal -in recent months, the number of people at auctions has increased, however, they do not hesitate to pay the real price for old coins . I have a feeling that many new people are investing in silver old coins from the year ,, 0 ,,
,, Or at home they are bored in the quarantine they can't get drunk in bars so they spend like this,, ?
And what about honest auction visitors ?
This escaped me by $ 2 today
sold $ 89,25 -I'm angry at all but I can't,, they just buy everything new falcons and spoil my joy,,
There is something going on in the market,
not that not
Ivan
IF hoarded gold possess'd a power To lengthen life's too fleeting hour,
And purchase from the land of death A little span, a moment's breath,
How I would love the precious ore! And every day should swell my store;
That when the Fates would send their minion, To waft me off on shadowy pinion,
I might some hours of life obtain, And bribe him back to hell again.
But, since we ne'er can charm away The mandate of that awful day,
Why do we vainly weep at fate, And sigh for life's uncertain date?
The light of gold can ne'er illume The dreary midnight of the tomb!
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
Quote: "Mr. Midnight"buying opportunity ahead. wait for it.
Just to maintain some level of understanding, what do you consider a buying opportunity?
For me, buying an ounce of silver at $1 over spot price would be an opportunity.
(And a reasonable profit for the banks.)
My favorite comment on metal prices has always been, who is the richer man, The man with a wheel barrow full of gold or a man with a wheel barrow full of potatoes?
Quote: "ThePoet"My favorite comment on metal prices has always been, who is the richer man, The man with a wheel barrow full of gold or a man with a wheel barrow full of potatoes?
Quote: "ThePoet"My favorite comment on metal prices has always been, who is the richer man, The man with a wheel barrow full of gold or a man with a wheel barrow full of potatoes?
I know there are people that love to argue with me, but I would trade you a wheel barrow full of potatoes for a wheel barrow of gold.
How many takers can I get?
Got some 50 pound bags right here.
A smart man learns from his mistakes. A smarter man learns from someone else's.
Quote: "Kurt53""IF hoarded gold possess'd a power To lengthen life's too fleeting hour,
And purchase from the land of death A little span, a moment's breath,"
It does. I've tried paying for medications and Medicare with my good looks, but they aren't accepting that commodity.
My beginning stash was started when gold was less than $200/oz. It has paid off better than some of my other investments.
Touché, but when Anacreon wrote those verses 2500 years ago, there was then no medicine worth buying.
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
There does seem to be some technical support around $1730, for the near term,
but pulling back a bit, unless there is another financial blow-up, there is no reason to doubt it could fall back to the $1380 level before the year is out.
Jamais l'or n'a perdu la plus petite occasion de se montrer stupide. -Balzac
Precious metals always rise during pandemics or war. Does the probability that the prices may fall back to $1380 by the year end mean the pandemic is going to ease down.
That would be a big positive
